PSC-37-07-00015-P Preferred Stock, Bonds and Other Forms of Indebtedness by New York State Electric & Gas Corporation

9/12/07 N.Y. St. Reg. PSC-37-07-00015-P

NEW YORK STATE REGISTER

VOLUME XXIX, ISSUE 37

September 12, 2007

RULE MAKING ACTIVITIES

PUBLIC SERVICE COMMISSION

PROPOSED RULE MAKING

NO HEARING(S) SCHEDULED

 

I.D No. PSC-37-07-00015-P

Preferred Stock, Bonds and Other Forms of Indebtedness by New York State Electric & Gas Corporation

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

Proposed action:

The Public Service Commission is considering whether to approve or reject, in whole or in part, a petition of New York State Electric & Gas Corporation authorizing the issuance of long-term indebtedness, preferred stock and hybrid securities, to enter into and borrow under revolving credit facilities and to enter into derivative instruments to manage interest rate risk and other financial exposure.

Statutory authority:

Public Service Law, section 69

Subject:

Issuance of and sale of preferred stock, bonds and other forms of indebtedness.

Purpose:

To permit New York State Electric & Gas Corporation to finance transactions for purposes authorized under Public Service Law, section 69.

Substance of proposed rule:

The Commission is considering whether to approve or deny in whole or in part a petition of New York State Electric & Gas Corporation authorizing the issuance of long-term indebtedness, preferred stock and hybrid securities, to enter into and borrow under revolving credit facilities and to enter into derivative instruments to manage interest rate risk and other financial exposure.

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:

Central Operations, Public Service Commission, Bldg. 3, Empire State Plaza, Albany, NY 12223-1350, [phone]

Data, views or arguments may be submitted to:

Jaclyn A. Brilling, Secretary, Public Service Commission, Bldg. 3, Empire State Plaza, Albany, NY 12223-1350, [phone]

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.

(07-M-0891SA1)