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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
Interstate Energy Corporation PTE Ltd.
65 Chulia Street
No. 31-00, Singapore
(Name of foreign utility company)
IES Industries Inc.
(Name of filing company if filed on behalf
of a foreign utility company)
The Commission is requested to mail copies of
all communications relating to this
Notification to:
Stephen W. Southwick
Vice President, General Counsel & Secretary
IES Industries Inc.
200 First Street S.E.
Cedar Rapids, Iowa 52401
M. Douglas Dunn
Milbank, Tweed, Hadley & McCloy
1 Chase Manhattan Plaza
New York, New York 10005-1413
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IES Industries Inc. ("IES"), an Iowa corporation, acting on
behalf of Interstate Energy Corporation PTE Ltd. ("Interstate PTE"), which is
incorporated in Singapore and is a wholly-owned subsidiary of IES, hereby
notifies the Securities and Exchange Commission (the "Commission") that
Interstate PTE is, and hereby claims status as, a foreign utility company
("FUCO") within the meaning of Section 33 of the Act.
ITEM 1. NAME, BUSINESS, ADDRESS, FACILITIES AND OWNERSHIP.
The name and business address of the company claiming FUCO
status is Interstate Energy Corporation PTE Ltd., 65 Chulia Street, No. 31-00,
Singapore.
Interstate PTE is participating in cooperative joint venture
enterprises in the People's Republic of China ("PRC") with PRC enterprise legal
persons and may in the future establish similar enterprises. In the enterprises,
Interstate PTE establishes a limited liability Joint Venture Company with a PRC
enterprise legal person to develop, manage and operate power plants. The Joint
Venture Companies are intended to, among other things, develop and operate
co-generation steam and power facilities and to enhance the economic efficiency
of the generation of energy from the power plants.
Interstate PTE will do business only through its ownership
interests in the joint ventures of or other property in the PRC in which it
acquires an interest. It will neither own nor operate facilities that are
located in any State in the United States of America (the "United States") that
are used for the generation, transmission, or distribution of electric energy
and will derive no part of its income from the generation, transmission, or
distribution of electric energy for sale within the United States.
ITEM 2. DOMESTIC ASSOCIATE PUBLIC-UTILITY COMPANIES OF INTERSTATE PTE
AND THEIR RELATIONSHIP TO INTERSTATE PTE.
Interstate PTE is a wholly-owned subsidiary of IES
International Inc. ("International"), an Iowa corporation and a holding company
for certain of the international non-utility subsidiaries of IES. International
is a wholly-owned subsidiary of IES Diversified Inc. ("Diversified"), an Iowa
corporation which serves as the holding company for substantially all of the
non-utility businesses of IES. Diversified, an Iowa corporation, is a
wholly-owned subsidiary of IES.
IES Utilities Inc. ("Utilities"), an Iowa corporation engaged
primarily in providing electric energy, natural gas and, to a limited extent,
steam used for heating and industrial purposes, is a public utility associate
company of Interstate PTE. IES owns all of the issued and outstanding shares of
common
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stock of Utilities. At present, apart from its affiliation to IES, Utilities has
no relationship with Interstate PTE. Utilities may perform services in
conjunction with the joint venture enterprises for Interstate PTE and its
subsidiaries in accordance with the rules and regulations, if applicable, of the
Iowa Utilities Board (the "IUB") and the Commission.
If the service company ("Services") is formed as described in
the Form U-1 Application/Declaration, as amended, in File No. 70-8891 of the
Commission, Services may also perform services for Interstate PTE and its
subsidiaries in accordance with the rules and regulations, if applicable, of the
IUB and the Commission.
EXHIBIT A: STATE CERTIFICATION.
Attached as Exhibit A is a letter from the IUB dated December 9, 1997,
certifying that it has the authority and resources to protect ratepayers subject
to its jurisdiction with respect to the ownership interests that IES, either
itself or through a subsidiary, has or may obtain in electric facilities in
foreign countries and that it intends to exercise its authority so long as the
aggregate total foreign investment by IES does not at any time exceed $240
million. IES does not have an aggregate of $240 million or more in foreign
investment. The IUB is the only state commission that has retail rate
jurisdiction over Utilities.
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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.
IES Industries Inc.
By: /s/ Stephen W. Southwick
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Stephen W. Southwick
Vice President, General Counsel & Secretary
Date: December 12, 1997
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EXHIBIT INDEX
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EXHIBIT A: STATE CERTIFICATION.
Attached as Exhibit A is a letter from the IUB dated December 9, 1997,
certifying that it has the authority and resources to protect ratepayers subject
to its jurisdiction with respect to the ownership interests that IES, either
itself or through a subsidiary, has or may obtain in electric facilities in
foreign countries and that it intends to exercise its authority so long as the
aggregate total foreign investment by IES does not at any time exceed $240
million. IES does not have an aggregate of $240 million or more in foreign
investment. The IUB is the only state commission that has retail rate
jurisdiction over IES Utilities.
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[STATE OF IOWA DEPARTMENT OF COMMERCE UTILITIES BOARD LETTERHEAD]
December 9, 1997
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, D.C. 20549
Dear Commission Members:
The Iowa Utilities Board has been advised IES Industries Inc. (IES), either
itself or through a subsidiary or other entity in which IES holds an ownership
interest, has or may obtain an interest in electric facilities in foreign
countries. This letter is submitted pursuant to the requirements of Section
33(a)(2) of the Public Utility Act of 1935, as amended (the Act).
The Iowa Utilities Board hereby certifies that it has the authority and
resources to protect ratepayers subject to its jurisdiction with respect to any
foreign acquisitions, and that it intends to exercise its authority. However,
this certification applies only so long as total foreign investment by IES does
not at any time exceed $240 million. Any prior certifications which could be
construed to allow foreign investment in excess of $240 million are withdrawn.
The Iowa Utilities Board has jurisdiction over the retail electric and gas
rates of IES Utilities Inc., which is a public utility company as such term is
defined in the Act. IES Utilities Inc. is a subsidiary of IES.
Sincerely,
/s/ Allan T. Thoms
Allan T. Thoms
Chairperson
Iowa Utilities Board
/gds
