PSC-34-09-00012-P Approval of a Financing and a Transfer of Ownership Interests in a 85 MW Generation Facility

8/26/09 N.Y. St. Reg. PSC-34-09-00012-P

NEW YORK STATE REGISTER

VOLUME XXXI, ISSUE 34

August 26, 2009

RULE MAKING ACTIVITIES

PUBLIC SERVICE COMMISSION

PROPOSED RULE MAKING

NO HEARING(S) SCHEDULED

 

I.D No. PSC-34-09-00012-P

Approval of a Financing and a Transfer of Ownership Interests in a 85 MW Generation Facility

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 from Power City Partners, L.P., MEG Development Company LLC and others requesting approval of a financing and a transfer of ownership interests in a 85 MW generation facility.

Statutory authority:

Public Service Law, sections 69 and 70

Subject:

Approval of a financing and a transfer of ownership interests in a 85 MW generation facility.

Purpose:

Consideration of approval of a financing and a transfer of ownership interests in a 85 MW generation facility.

Substance of proposed rule:

The Public Service Commission is considering a petition from RPL Holdings, Inc, Power City Generating, Inc., Power City Partners, L.P., and MEG Development Company LLC (MEG) requesting approval of a transfer of ownership interests, to MEG from the other petitioners, in a 85 MW generation facility located in Massena, NY, and requesting approval of a financing that would increase MEG's existing $19.3 million term loan facility by approximately $13.0 million in an acquisition and working capital loan to finance the purchase. The Commission may adopt, reject or modify, in whole or in part, the relief proposed.

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.

(09-E-0574SP1)