PSC-19-12-00033-P Issuance of Promissory Notes and the Assumption of the Costs and Benefits of Certain Derivative Instruments

5/9/12 N.Y. St. Reg. PSC-19-12-00033-P

NEW YORK STATE REGISTER

VOLUME XXXIV, ISSUE 19

May 09, 2012

RULE MAKING ACTIVITIES

PUBLIC SERVICE COMMISSION

PROPOSED RULE MAKING

NO HEARING(S) SCHEDULED

 

I.D No. PSC-19-12-00033-P

Issuance of Promissory Notes and the Assumption of the Costs and Benefits of Certain Derivative Instruments

PURSUANT TO THE PROVISIONS OF THE State Administrative Procedure Act, NOTICE is hereby given of the following proposed rule:

Proposed Action:

The PSC is considering a petition by Central Hudson Gas and Electric Corporation to enter into multi-year committed credit agreements in amounts not to exceed $175 million in the aggregate, and issue long-term debt in an amount not to exceed $250 million.

Statutory authority:

Public Service Law, section 69

Subject:

Issuance of promissory notes and the assumption of the costs and benefits of certain derivative instruments.

Purpose:

To authorize the issuance of the above notes and to authorize entering into agreements concerning derivative transactions.

Substance of proposed rule:

The Commission is considering whether to approve, modify or reject, in whole or in part, a petition by Central Hudson Gas and Electric Corporation to (a) enter into multi-year credit agreements to provide committed funding to meet expected liquidity needs, in amounts not to exceed $175 million in the aggregate and maturities not to exceed five years, and (b) approval to issue and sell long-term debt, commencing immediately upon issuance of an order regarding this petition, and from time to time through December 31, 2015, in an amount not to exceed $250 million in the aggregate. The Commission may also resolve issues related to the petition.

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.state.ny.us/f96dir.htm. For questions, contact:

Leann Ayer, Public Service Commission, 3 Empire State Plaza, Albany, New York 12223-1350, [phone], email: [e-mail]

Data, views or arguments may be submitted to:

Jaclyn A. Brilling, Secretary, Public Service Commission, 3 Empire State Plaza, Albany, New York 12223-1350, [phone], email: [e-mail]

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.

(12-M-0172SP1)