PSC-19-16-00012-P Proposed Corporate Reorganization and Transfer of Ownership Interests between Members in Cricket Valley Energy Center, LLC  

  • 5/11/16 N.Y. St. Reg. PSC-19-16-00012-P
    NEW YORK STATE REGISTER
    VOLUME XXXVIII, ISSUE 19
    May 11, 2016
    RULE MAKING ACTIVITIES
    PUBLIC SERVICE COMMISSION
    PROPOSED RULE MAKING
    NO HEARING(S) SCHEDULED
     
    I.D No. PSC-19-16-00012-P
    Proposed Corporate Reorganization and Transfer of Ownership Interests between Members in Cricket Valley Energy Center, LLC
    PURSUANT TO THE PROVISIONS OF THE State Administrative Procedure Act, NOTICE is hereby given of the following proposed rule:
    Proposed Action:
    The Commission is considering a Petition proposing a corporate reorganization and transfer of ownership interests between members in the Cricket Valley Energy Center, LLC.
    Statutory authority:
    Public Service Law, sections 2(12), (13), 5(1)(b), 5-b, 64, 65, 66 and 70
    Subject:
    Proposed corporate reorganization and transfer of ownership interests between members in Cricket Valley Energy Center, LLC.
    Purpose:
    To consider corporate reorganization and transfer of ownership interests between members in Cricket Valley Energy Center, LLC.
    Substance of proposed rule:
    The New York State Public Service Commission (“Commission”) is considering a Verified Joint Petition filed by Cricket Valley Energy Center, LLC (“CVEC”), AP Cricket Valley Holdings I Inc. (“APCVHI”), AP Cricket Valley Holdings II Inc. (“APCVHII”), MC CVEC Project Holdings I, LLC (“MCCVEC”), and Cricket Valley Energy Holdings, LLC (“CVEH”; collectively, the “Petitioners”) under Section 70 of the Public Service Law for the authority to transfer CVEC ownership interests between members of CVEC. CVEC is developing an approximately 1,000 MW electric generating facility in the Town of Dover, New York. The Petitioners explain that the ownership transfer(s) only would be triggered if APCVHI, APCVHII, or MCCVEC fail to make a required capital contribution for CVEC. The Petitioners also propose an intra-corporate restructuring that would transfer to CVEH, a new holding company, the direct ownership interests in CVEC that currently are held by APCVHI, APCVHII, and MCCVEC. The Commission may adopt, reject, or modify, in whole or in part, the relief proposed and may resolve related matters.
    Text of proposed rule and any required statements and analyses may be obtained by filing a Document Request Form (F-96) located on our website http://www.dps.ny.gov/f96dir.htm. For questions, contact:
    John Pitucci, Public Service Commission, 3 Empire State Plaza, Albany, New York 12223-1350, (518) 486-2655, email: john.pitucci@dps.ny.gov
    Data, views or arguments may be submitted to:
    Kathleen H. Burgess, Secretary, Public Service Commission, 3 Empire State Plaza, Albany, New York 12223-1350, (518) 474-6530, email: secretary@dps.ny.gov
    Public comment will be received until:
    45 days after publication of this notice.
    Regulatory Impact Statement, Regulatory Flexibility Analysis, Rural Area Flexibility Analysis and Job Impact Statement
    Statements and analyses are not submitted with this notice because the proposed rule is within the definition contained in section 102(2)(a)(ii) of the State Administrative Procedure Act.
    (16-E-0201SP1)

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