<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C.
FORM U-57
NOTIFICATION OF FOREIGN UTILITY COMPANY STATUS
Filed under Section 33(a) of the
Public Utility Holding Company Act of 1935, as amended
Teollisuuden Sahkonmyynti Oy,
and subsidiaries and affiliates
Mikonkatu 15 A, 3. krs,
00100 Helsinki, Finland
(Name of foreign utility company)
Texas Utilities Company
------------------------------------------
(Name of filing company if filed on behalf
of a foreign utility company)
This Commission is requested to mail copies of all communications relating to
this Notification to:
Robert A. Wooldridge
Worsham, Forsythe & Wooldridge, L.L.P.
Energy Plaza
1601 Bryan, 30th Floor
Dallas, Texas 75201
November 5, 1999
<PAGE> 2
Texas Utilities Company (the "Company"), a Texas corporation and an
exempt holding company under the Public Utility Holding Company Act of 1935, as
amended (the "Act"), hereby notifies the Securities and Exchange Commission (the
"Commission") that Teollisuuden Sahkonmyynti Oy ("TSO") and its subsidiary and
affiliate public utility companies (TSO and its subsidiary and affiliate public
utility companies are collectively referred to herein as the "TSO Companies")
are, and on behalf of the TSO Companies claims status for the TSO Companies as,
foreign utility companies ("FUCOs") within the meaning of Section 33 of the Act.
The Company, through a wholly-owned subsidiary company (other than the Company's
existing domestic public utility companies), intends to acquire 81% of the
outstanding shares of TSO.
ITEM 1. STATE THE NAME OF THE ENTITY CLAIMING FOREIGN UTILITY COMPANY STATUS,
ITS BUSINESS ADDRESS, AND A DESCRIPTION OF THE FACILITIES USED FOR THE
GENERATION, TRANSMISSION AND DISTRIBUTION OF ELECTRIC ENERGY FOR SALE OR FOR THE
DISTRIBUTION AT RETAIL OF NATURAL OR MANUFACTURED GAS. TO THE EXTENT KNOWN,
IDENTIFY EACH PERSON THAT HOLDS FIVE PERCENT (5%) OR MORE OF ANY CLASS OF VOTING
SECURITIES OF THE FOREIGN UTILITY COMPANY AND DESCRIBE THE AMOUNT AND NATURE OF
THE INTEREST.
The name of the entity claiming foreign utility status is Teollisuuden
Sahkonmyynti Oy, ("TSO") a public company incorporated in Finland; the
business address of which is Mikonkatu 15 A, 3. krs, 00100 Helsinki,
Finland and its subsidiary and affiliate public utility companies.
TSO owns 14.7% of the total outstanding shares of Pohjolan Voima Oy
("PVO"), a company incorporated in Finland; the business address of
which is Mikonkatu 15 A, 00100, Helsinki, Finland.
PVO owns 25% of the outstanding securities of Fingrid Oyj ("Fingrid"),
the national transmission grid company in Finland; the business address
of which is Arkadiankatu, 23 B, 00100 Helsinki, Finland.
PVO also owns the following companies incorporated in Finland that own
the electric generators identified:
<TABLE>
<CAPTION>
SUBSIDIARY NAME: Location in Capacity % Owned by PVO Other Shareholders
Generator Name Finland in MW
- --------------------------------------------------------------------------------------------------------------
PVO VESIVOIMA OY: 100% None
- --------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Haapakoski Iijoki river, 28
(hydro) municipality of
Yli-Ii
- --------------------------------------------------------------------------------------------------------------
Pahkakoski Iijoki river, 34
(hydro) municipality of Il
- --------------------------------------------------------------------------------------------------------------
</TABLE>
NOTIFICATION OF FOREIGN UTILITY
COMPANY STATUS FOR TEOLLISUUDEN
SAHKONMYYNTI OY - Page 2
<PAGE> 3
<TABLE>
<S> <C> <C> <C> <C>
Kierikki Iijoki river,city 32
(hydro) of Yli-Li
Maalismaa Iijoki river, 33
(hydro) city of Yli-Li
- --------------------------------------------------------------------------------------------------------------
Raasakka Iijoki river, 58
(hydro) city of Li
- --------------------------------------------------------------------------------------------------------------
Jumisko Kemijoki river, 26
(hydro) city of
Kemijarvi
- --------------------------------------------------------------------------------------------------------------
Isohaara Kemijoki river, 106
(hydro) city of Kemi
- --------------------------------------------------------------------------------------------------------------
Melo Kokemaenjoki 60
(hydro) river, city of
Nokia
- --------------------------------------------------------------------------------------------------------------
PVO-LAMPOVOIMA OY: 100% None
- --------------------------------------------------------------------------------------------------------------
Kristiina 1 city of 223
(oil) Kristiina
- --------------------------------------------------------------------------------------------------------------
Kristiina 2 city of 248
(coal) Kristiina
- --------------------------------------------------------------------------------------------------------------
Tahkoluoto (coal) city of Pori 222
- --------------------------------------------------------------------------------------------------------------0
MUSSALON VOIMA OY: 100% None
- --------------------------------------------------------------------------------------------------------------
Mussalo city of Kotka 75
(coal)
- --------------------------------------------------------------------------------------------------------------
Mussalo city of Kotka 238
(combined cycle,
natural gas)
- --------------------------------------------------------------------------------------------------------------
PVO-HUIPPUVOIMA OY: 100% None
- --------------------------------------------------------------------------------------------------------------
Vaskiluoto (oil) city of Vaasa 160
- --------------------------------------------------------------------------------------------------------------
VEITSILUODON VOIMA OY city of Kemi 144 100% None
(CO-GENERATION)
- --------------------------------------------------------------------------------------------------------------
KEMIJARVEN VOIMA OY (CO-GENERATION) city of 28 100% None
Kemijarvi
- --------------------------------------------------------------------------------------------------------------
OULUN VOIMA OY city of Oulu 145 100% None
(CO-GENERATION)
- --------------------------------------------------------------------------------------------------------------
TEOLLISUUDEN VOIMA OY 56.8% Fortum Power and Heat
Oyj, Etela-Pohjanmaan
Voima Oy, Mankala,
Kemira Oyj
- --------------------------------------------------------------------------------------------------------------
</TABLE>
NOTIFICATION OF FOREIGN UTILITY
COMPANY STATUS FOR TEOLLISUUDEN
SAHKONMYYNTI OY - Page 3
<PAGE> 4
<TABLE>
<S> <C> <C> <C> <C>
Olkiluoto (nuclear) municipality of 1680
Eurajoki
- --------------------------------------------------------------------------------------------------------------
Meri-Pori (coal) city of Pori 257
- --------------------------------------------------------------------------------------------------------------
VASKILUODON VOIMA OY 50% Etela-Pohjanmaan Voima
Oy
- --------------------------------------------------------------------------------------------------------------
Vaskiluoto 2 (coal) city of Vaasa 230
- --------------------------------------------------------------------------------------------------------------
Seinajoki (peat) city of 126
Seinajoki
- --------------------------------------------------------------------------------------------------------------
NOKIAN LAMPOVOIMA OY 80.1% Fortum Power and Heat
Oyj
- --------------------------------------------------------------------------------------------------------------
Nokia (natural gas) city of Nokia 87
- --------------------------------------------------------------------------------------------------------------
Nokia (oil) city of Nokia 37
- --------------------------------------------------------------------------------------------------------------
LANSI-SUOMEN VOIMA OY city of 70 19.9% UPM-Kymmene
(hydro) Harjavalta Corporation, Pori,
Graninge
- --------------------------------------------------------------------------------------------------------------
TORNIONLAAKSON VOIMA OY (hydro) city of 14 50% Tomionlaakson Sahko Oy
Ylitornio
- --------------------------------------------------------------------------------------------------------------
</TABLE>
Additionally, PVO, through its subsidiary Oy Alholmens Kraft Ab has announced
construction of a new electric generator at Pietarsaari in Finland. The
generator is expected to have capacity of 265 MW and is expected to be completed
at the end of 2001. The other shareholders of Oy Alholmens Kraft Ab, other than
PVO, are UPM-Kymmene Oyj, Perhonjoki Oy, Pohjolan Voima Oy, Revon Sahko Oy,
Graningeverkens Ab, and Skelleftea Kraft Ab.
PVO, or its subsidiaries, have also announced plans to construct one or
more of the following generators:
<TABLE>
<CAPTION>
TYPE OF GENERATOR PLANNED: PLANNED POWER IN MW PLANNED COMPLETION DATE
- --------------------------------------------------------------------------------------------------------------
<S> <C> <C>
BIOMASS:
- --------------------------------------------------------------------------------------------------------------
three plants 453 2001-2003
- --------------------------------------------------------------------------------------------------------------
PROCESS GASES:
- --------------------------------------------------------------------------------------------------------------
one plant 150 2001
- --------------------------------------------------------------------------------------------------------------
HYDROPOWER:
- --------------------------------------------------------------------------------------------------------------
one plant at Melo 4 1999
- --------------------------------------------------------------------------------------------------------------
</TABLE>
NOTIFICATION OF FOREIGN UTILITY
COMPANY STATUS FOR TEOLLISUUDEN
SAHKONMYYNTI OY - Page 4
<PAGE> 5
<TABLE>
<S> <C> <C>
one plant at the Iijoki 115 2010
River
- --------------------------------------------------------------------------------------------------------------
NATURAL GAS:
- --------------------------------------------------------------------------------------------------------------
two new plants 170 2000-2001
- --------------------------------------------------------------------------------------------------------------
</TABLE>
In addition to the shareholders of the TSO Companies owning electric
generators identified above, shareholders owning 5% or more of TSO, PVO, and
Fingrid are as follows:
a. TSO - the following entities will jointly own 19% of the
outstanding securities of TSO: (a) UPM-Kymmene Oyj; (b) Stora
Enso Oyj; (c) Etela-Pohjanmaan Voima Oy; (d) Kemira Oyj; and
(e) Oy Metsa-Botnia Ab.
b. PVO - the following entities, other than TSO, will own 5% or
more of the outstanding securities in PVO: (a) UPM-Kymmene
Corporation - 37.9% and (b) Stora Enso Oyj - 16.5%.
c. Fingrid - the following entities, other than PVO, will own 5%
or more of the outstanding securities in Fingrid: (a) Fortum
Power and Heat Oy - 25.1%; (b) Keskinainen Elakevakuutusyhtio
Ilmarinen - 10.5%; (c) Keskinainen elakevakuutusyhtio
Varma-Sampo - 12.5%; (d) Pohjolan Voima Oy - 25.1%; and (e)
Suomen valtio - 12.3%.
ITEM 2. STATE THE NAME OF ANY DOMESTIC ASSOCIATE PUBLIC-UTILITY COMPANY AND, IF
APPLICABLE, ITS HOLDING COMPANY, AND A DESCRIPTION OF THE RELATIONSHIP BETWEEN
THE FOREIGN UTILITY COMPANY AND SUCH COMPANY, AND THE PURCHASE PRICE PAID BY ANY
SUCH DOMESTIC ASSOCIATE PUBLIC-UTILITY COMPANY FOR ITS INTEREST IN THE FOREIGN
UTILITY COMPANY.
The Company, through a wholly-owned non-domestic subsidiary intends to
acquire 81% of the outstanding shares of TSO. If TSO becomes a
subsidiary company of the Company, the domestic associate
public-utility companies of the TSO Companies will be TXU Electric
Company ("TXU Electric"), TXU SESCO Company ("TXU SESCO") and TXU Gas
Company ("TXU Gas"). The only relationship among TXU Electric, TXU
SESCO, TXU Gas and TSO will be that their holding company is the
Company. The Company indirectly owns all the outstanding voting stock
of TXU Electric, TXU SESCO, and TXU Gas. TXU Electric will not pay any
portion of the purchase price. TXU SESCO will not pay any portion of
the purchase price. TXU Gas will not pay any portion of the purchase
price.
EXHIBIT A. IF APPLICABLE, THE STATE CERTIFICATION(S) REQUIRED UNDER SECTION
33(a)(2) OF THE ACT. CERTIFICATION(S) PREVIOUSLY FILED WITH THE COMMISSION MAY
BE INCORPORATED BY REFERENCE. IF THE CERTIFICATION(S) IS NOT AVAILABLE AT THE
TIME OF FILING THE FORM U-57, SO STATE, AND UNDERTAKE TO FILE SUCH CERTIFICATION
AS AN AMENDMENT WHEN AVAILABLE; HOWEVER, FOREIGN UTILITY COMPANY STATUS WILL NOT
BE DEEMED OBTAINED UNTIL ALL REQUIRED CERTIFICATION(S) HAVE BEEN FILED.
NOTIFICATION OF FOREIGN UTILITY
COMPANY STATUS FOR TEOLLISUUDEN
SAHKONMYYNTI OY - Page 5
<PAGE> 6
A true and correct copy of the Public Utility Commission of Texas
certification letter dated November 4, 1999 is attached hereto as
Exhibit A-1 and incorporated herein by reference. A true and correct
copy of the Railroad Commission of Texas certification letter dated
February 4, 1998, filed previously with the Commission on or about
February 17, 1998, is attached hereto as Exhibit A-2 and incorporated
herein by reference.
The Public Utility Commission of Texas certification letter was
expressly made applicable to all future foreign utility companies
ventures in which Texas Utilities Company or its subsidiaries may seek
to obtain an ownership interest; provided, that if Texas Utilities
Company intends to make a FUCO investment with recourse to Texas
Utilities Company that would cause Texas Utilities Company's aggregate
investment in foreign utility companies and exempt wholesale generators
to exceed 60% of its consolidated net worth, Texas Utilities Company
shall obtain additional certification from the Public Utility
Commission of Texas prior to completing such investment. THE INVESTMENT
IN TSO WILL NOT CAUSE TEXAS UTILITIES COMPANY'S AGGREGATE INVESTMENT TO
EXCEED 60% OF ITS CONSOLIDATED NET WORTH.
The Railroad Commission of Texas certification letter was expressly
made applicable to all future foreign utility company ventures in which
Texas Utilities Company or its subsidiaries may seek to obtain an
ownership interest.
SIGNATURE
The undersigned company has duly caused this statement to be signed on
its behalf by the undersigned thereunto duly authorized.
TEXAS UTILITIES COMPANY
By: /s/ PETER B. TINKHAM
------------------------------
Peter B. Tinkham
Secretary/Assistant Treasurer
Date: November 5, 1999
NOTIFICATION OF FOREIGN UTILITY
COMPANY STATUS FOR TEOLLISUUDEN
SAHKONMYYNTI OY - Page 6
<PAGE> 7
EXHIBIT A-1
[LOGO OF SEAL PUBLIC UTILITY COMMISSION OF TEXAS Pat Wood, III
OF TEXAS 1701 N. Congress Avenue Chairman
APPEARS HERE] P.O. Box 13326
Austin, Texas 78711-3326
512/936-7000 o (Fax) 936-7003 Judy Walsh
Commissioner
Brett Perlman
Commissioner
November 4, 1999
Mr. Jonathan G. Katz
Secretary
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, D.C. 20549
Dear Mr. Katz:
Texas Utilities Electric Company ("TXU Electric") and TXU SESCO Company
("TXU SESCO"), subsidiaries of Texas Utilities Company ("TXU"), a Texas
Corporation, have advised this Commission that TXU is considering acquisitions
by one or more wholly-owned subsidiary companies (other than TXU Electric or TXU
SESCO) of an interest in entities that are considered foreign utility companies
("FUCOs") as defined in Section 33(a)(3) of the 1935 Act. In connection with
such acquisitions, TXU Electric and TXU SESCO have requested that the Public
Utility Commission of Texas (the "Commission") provide to you the certification
contemplated in Section 33(a)(2) of the Public Utility Holding Company Act of
1935 (15 U.S.C 79 et. seq.), which section was added to that Act by Section 715
of the Energy Policy Act of 1992.
As the State Commission having jurisdiction over the retail electric
rates of TXU's public utility subsidiaries, TXU Electric and TXU SESCO, please
be advised that this Commission: (i) has the authority and resources to protect
the ratepayers of TXU Electric and TXU SESCO; and (ii) intends to exercise such
authority.
This certification is applicable to all FUCOs in which TXU or its
subsidiaries seek to obtain an ownership interest; provided, that if TXU intends
to make a FUCO investment with recourse to
NOTIFICATION OF FOREIGN UTILITY
COMPANY STATUS FOR TEOLLISUUDEN
SAHKONMYYNTI OY - Page 7
<PAGE> 8
TXU that would cause TXU's aggregate investment in FUCOs and foreign Exempt
Wholesale Generators to exceed 60% of its consolidated net worth (as defined by
Commission Subst. R. 25.271), TXU shall obtain additional certification from the
Commission prior to completing such investment. The certification is subject to
being revised or withdrawn by the Commission in the future.
Please contact Darryl Tietjen (512-936-7436) of the Commission Staff if
you have any questions on this matter.
Sincerely,
PUBLIC UTILITY COMMISSION OF TEXAS
/s/ Pat Wood, III
Pat Wood, III, Chairman
/s/ Judy Walsh
Judy Walsh, Commissioner
/s/ Brett A. Perlman
Brett A. Perlman, Commissioner
cc: Office of Public Utility Regulation
Securities and Exchange Commission
NOTIFICATION OF FOREIGN UTILITY
COMPANY STATUS FOR TEOLLISUUDEN
SAHKONMYYNTI OY - Page 8
<PAGE> 9
EXHIBIT A-2
<TABLE>
<S> <C> <C>
CHARLES R. MATTHEWS, CHAIRMAN
BARRY WILLIAMSON, COMMISSIONER [LOGO OF SEAL OF
CAROLE KEETON RYLANDER, COMMISSIONER TEXAS] RONALD L. KITCHENS, DIRECTOR
</TABLE>
RAILROAD COMMISSION OF TEXAS
GAS SERVICES DIVISION
February 4, 1998
Mr. Jonathan G. Katz
Secretary
Securities and Exchange Commission
450 Fifth Street, NW
Washington, D.C. 20549
Dear Mr. Katz,
Texas Utilities Company ("Texas Utilities") has advised the Railroad
Commission of Texas ("Commission") that a subsidiary of Texas Utilities is
considering acquisition of The Energy Group PLC, a foreign utility company
operating in England and Wales. In connection with such activities, Texas
Utilities has requested that the Commission provide you with the certification
contemplated in Section 33(a)(2) of the Public Utility Holding Company Act of
1935 (15 U.S.C. 79 et seq.).
As the State Commission having jurisdiction over the wholesale and
retail gas rates of Texas Utilities and its subsidiaries, the Commission hereby
certifies that it:
i.) has the authority and resources to protect the
ratepayers of Texas Utilities and its subsidiaries
subject to Commission jurisdiction, and
ii.) intends to exercise such authority.
This certification is intended to be applicable with respect to the
above described transaction and such other foreign utility company ventures in
which Texas Utilities or its subsidiaries may seek to obtain an ownership
interest, but is conditioned on and subject to being revised or withdrawn as to
any future acquisitions. Texas Utilities has represented that it will timely
inform this Commission of any efforts by it or its subsidiaries to seek
ownership interest in other foreign utility companies.
Sincerely,
/s/ R.L. Kitchens
- ----------------------------------------
Ronald L. Kitchens
Director, Gas Services Division
On behalf of the Railroad Commission of Texas
cc: Office of Public Utility Regulation
Securities and Exchange Commission
450 Fifth Street, NW
Washington, D.C. 20549
NOTIFICATION OF FOREIGN UTILITY
COMPANY STATUS FOR TEOLLISUUDEN
SAHKONMYYNTI OY - Page 9
