SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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
Duke Hidronor (Caymans) Ltd.
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(NAME OF FOREIGN UTILITY COMPANY)
DUKE POWER COMPANY
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(NAME OF FILING COMPANY, IF FILED ON BEHALF
OF A FOREIGN UTILITY COMPANY)
STEVE C. GRIFFITH, JR.
VICE CHAIRMAN
DUKE POWER COMPANY
422 SOUTH CHURCH STREET
CHARLOTTE, NC 28242-0001
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(NAME AND ADDRESS OF AGENT FOR SERVICE OF PROCESS)
THE COMMISSION IS REQUESTED TO MAIL COPIES OF ALL COMMUNICATIONS TO:
ROBERT T. LUCAS III, PB05E
DUKE POWER COMPANY LEGAL DEPARTMENT
422 SOUTH CHURCH STREET
CHARLOTTE, NORTH CAROLINA 28242-0001
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Notification
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Duke Power Company, a North Carolina corporation ("Duke"), acting on
behalf of Duke Hidronor (Caymans) Ltd., a Cayman Islands corporation ("Duke
Hidronor Caymans"), herewith notifies the Securities and Exchange Commission
(the "Commission") that Duke Hidronor Caymans will become a foreign utility
company, as defined in Section 33(a) (3) of the Public Utility Holding Company
Act of 1935, as amended (the "Act") on a date which is expected to be on or
about December 28, 1995 (hereinafter called the "Transfer Date").
ITEM 1
Name and Business Address:
Duke Hidronor (Caymans) Ltd.
Post Office Box 309
Ugland House
South Church Street
Grand Cayman
Cayman Islands, British West Indies
Facilities:
On the Transfer Date, Duke Hidronor Caymans will become the owner of a
9.76% indirect equity interest in Hidroelectrica Piedra del Aguila S.A., an
Argentine corporation ("Piedra del Aguila"), subject to approval from the
Argentine Government. Piedra del Aguila holds an exclusive 30-year concession
for the generation of hydro-electric energy at the hydro-electric facility
located at Piedra del Aguila in the Provinces of Neuquen and Rio Negro,
Argentina. The Piedra del Aguila facility consists of a 1,400 MW hydro-electric
station located on the Limay River in Argentina.
Ownership:
All of the outstanding voting stock of Duke Hidronor Caymans is owned
by Duke Hidronor, Inc., a Delaware corporation ("Duke Hidronor"), which is a
wholly-owned subsidiary
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of Duke Energy Group, Inc., a Delaware corporation, which is a wholly-owned
subsidiary of Church Street Capital Corp., a Delaware corporation, which in turn
is a wholly-owned subsidiary of Duke. On the Transfer Date, Duke Hidronor will
transfer to Duke Hidronor Caymans its 16.54% equity interest in Hidroneuquen
S.A., an Argentine corporation ("Hidroneuquen"), which in turn owns 59% of the
voting stock ("ordinary nominative shares") of Piedra del Aguila. As a result,
Duke Hidronor Caymans will own a 9.76% indirect equity interest in Piedra del
Aguila.
Piedra del Aguila, Hidroneuquen and Duke Hidronor are all foreign
utility companies as defined in Section 33(a) (3) of the Act. In addition, Duke
Hidronor Operating Corp., a Delaware corporation ("Operating Corp."), all of the
common stock of which is owned by Duke Hidronor, is a foreign utility company as
so defined. Operating Corp. is the operator of the Piedra del Aguila facility.
Form U-57 Notifications have been previously filed with respect to each of
Piedra del Aguila, Hidroneuquen, Duke Hidronor and Operating Corp.
ITEM 2
Domestic Associate Public-Utility Companies of Duke Hidronor Caymans
and their Relationship to Duke Hidronor Caymans:
Duke and Nantahala Power and Light Company ("Nantahala") are domestic
associate public-utility companies of Duke Hidronor Caymans, with Duke being the
holding company. Duke's relationship to Duke Hidronor Caymans is that it
indirectly owns all of the capital stock of Duke Hidronor Caymans through
wholly-owned subsidiaries. Nantahala is a wholly-owned public-utility subsidiary
of Duke. Nantahala will not be involved in any way in the ownership, management,
operation or maintenance of Duke Hidronor Caymans or of the Piedra del Aguila
facility.
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The formation and capitalization of Duke Hidronor Caymans will not
involve any payment of a purchase price by either of the aforementioned domestic
associate public-utility companies with respect to an interest in Duke Hidronor
Caymans.
Exhibit A: Documents Incorporated by Reference
North Carolina Utilities Commission certification letter dated
January 25, 1993 (filed with the Commission on February 17, 1993).
The Public Service Commission of South Carolina certification
letter dated January 13, 1993 (filed with the Commission on
February 17, 1993).
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SIGNATURE
The undersigned company has duly caused this statement to be signed on
its behalf by the undersigned thereunto duly authorized.
DUKE POWER COMPANY
By: __________________________
Steve C. Griffith, Jr.
Vice Chairman
Date: December 22, 1995
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