6/8/16 N.Y. St. Reg. PSC-40-15-00013-A
PURSUANT TO THE PROVISIONS OF THE State Administrative Procedure Act, NOTICE is hereby given of the following action:
Action taken:
On 5/19/16, the PSC adopted an order authorizing Niagara Mohawk Power Corporation d/b/a National Grid (National Grid) to issue up to $2.07 billion of long-term debt, in one or more transactions, no later than March 31, 2020.
Statutory authority:
Public Service Law, section 69
Subject:
Issuance of long-term debt.
Purpose:
To authorize National Grid to issue up to $2.07 billion of long-term debt.
Substance of final rule:
The Commission, on May 19, 2016, adopted an order authorizing Niagara Mohawk Power Corporation d/b/a National Grid to issue up to $2.07 billion of long-term debt, comprised of up to $1.94 billion of new long-term debt and up to $429.5 million of debt to refinance its existing auction rate debt, in one or more transactions, no later than March 31, 2020, subject to the terms and conditions set forth in the order.
Final rule as compared with last published rule:
No changes.
Text of rule may be obtained from:
John Pitucci, Public Service Commission, Three Empire State Plaza, Albany, New York, 12223, (518) 486-2655, email:
john.pitucci@dps.ny.gov 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.
