12/5/07 N.Y. St. Reg. PSC-37-07-00015-A
PURSUANT TO THE PROVISIONS OF THE State Administrative Procedure Act, NOTICE is hereby given of the following action:
Action taken:
The commission, on Nov. 7, 2007, adopted an order authorizing New York State Electric & Gas Corporation (NYSEG) to issue up to $357 million of securities for traditional utility purposes and $132 million of debt securities for refinancing existing debt.
Statutory authority:
Public Service Law, section 69
Subject:
Issuance of and sale of preferred stock, bonds and other forms of indebtedness.
Purpose:
To approve NYSEG to finance transactions for purposes authorized under PSL, section 69.
Substance of final rule:
The Public Service Commission adopted an order authorizing New York State Electric & Gas Corporation to issue up to $357 million of securities for traditional utility purposes and $132 million of debt securities for refinancing existing debt and employ derivative instruments to manage risk, no later than December 31, 2010, subject to the terms and conditions set forth in the order.
Final rule compared with proposed rule:
No changes.
Text of rule may be obtained from:
Central Operations, Public Service Commission, Bldg. 3, 14th Fl., Empire State Plaza, Albany, NY 12223-1350, by fax to (518) 474-9842, by calling (518) 474-2500. An IRS employer ID no. or social security no. is required from firms or persons to be billed 25 cents per page. Please use tracking number found on last line of notice in requests.
Assessment of Public Comment
An assessment of public comment is not submitted with this notice because the rule is within the definition contained in section 102(2)(a)(ii) of the State Administrative Procedure Act.
