9/3/14 N.Y. St. Reg. PSC-25-14-00013-A
PURSUANT TO THE PROVISIONS OF THE State Administrative Procedure Act, NOTICE is hereby given of the following action:
Action taken:
On 8/14/14, the PSC addressed a petition from Bayonne Energy Center LLC (BEC) by establishing regulatory requirements for transfers and financings, allowing a transfer to proceed without further review, and approving a financing.
Statutory authority:
Public Service Law, sections 69 and 70
Subject:
Approving regulatory requirements for transfers and financings, review of transfer and approval of a financing.
Purpose:
To approve regulatory requirements for transfers and financings, review of a transfer and approval of a financing.
Substance of final rule:
The Commission, on August 14, 2014, adopted an order addressing a petition from Bayonne Energy Center LLC (BEC) by establishing regulatory requirements for transfers and financings, allowing a transfer to proceed without further review, and approving a financing. The Commission decided Public Service Law §§ 69 and 70 would adhere to BEC’s transfers and financings, to approve a financing in an amount of no more than $720 million, and that it would not review further a transfer of ownership interests in parent companies upstream from BEC, 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:
Deborah Swatling, Public Service Commission, Three Empire State Plaza, Albany, New York 12223, (518) 486-2659, email:
deborah.swatling@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.
