FILE NO.: 70-8062
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_____________________________________
POST-EFFECTIVE AMENDMENT NO. 8
TO THE
FORM U-1
APPLICATION AND DECLARATION
UNDER THE
PUBLIC UTILITY HOLDING COMPANY ACT OF 1935
___________________________________
NORTHEAST UTILITIES
174 Brush Hill Avenue
West Springfield, Massachusetts 01089
CHARTER OAK ENERGY, INC.
COE DEVELOPMENT CORPORATION
107 Selden Street
Berlin, CT 06037-1616
_____________________________________
(Name of company filing this statement
address of principal executive offices)
NORTHEAST UTILITIES
_____________________________________
(Name of top registered holding
Company parent of each applicant or declarant)
Jeffrey C. Miller, Esq.
Assistant General Counsel
NORTHEAST UTILITIES SERVICE COMPANY
P.O. Box 270
Hartford, Connecticut 06141-0270
__________________________________________
(Name and address of agent for services)
The Commission is requested to mail copies of
all orders, notices and communications to:
William S. Lamb, Esq. Jeffrey C. Miller, Esq.
LeBoeuf, Lamb, Greene & MacRae Assistant General Counsel
125 W. 55th Street NORTHEAST UTILITIES SERVICE COMPANY
New York, New York 10019-4513 P.O. Box 270
Hartford, Connecticut 06141-0270
Northeast Utilities ("NU"), West Springfield, Massachusetts,
a registered holding company, and its wholly owned subsidiaries,
Charter Oak Energy, Inc. ("Charter Oak") and COE Development
Corporation ("COE Development"), both located in Berlin, Connecticut,
(collectively the "Applicants") hereby file this post-effective
amendment to their Application and Declaration on Form U-1 (HCAR.
25726; December 30, 1992; File No. 70-8062), previously amended on
January 24, 1994 (HCAR 25977; File No. 70-8062). The Applicants are
filing this post-effective amendment in order to request authority to
issue guarantees and assume the liabilities of subsidiary companies in
connection with the financing of development activities and in
connection with contingent liabilities subsequent to operation for
certain exempt wholesale generator ("EWG") and foreign utility company
("FUCO") projects.
In the order that was issued to the Applicants on January
24, 1994 (HCAR 25977; File No. 70-8062) (the "January 1994 Order")
following the filing of Post-Effective Amendment No. 6 to their
Application and Declaration on Form U-1, the Applicants were granted
authority to engage in preliminary development and financing
activities, including the issuance of guarantees and assumption of
liabilities of subsidiary companies, in amounts up to $100 million
through December 31, 1994 as long as such activities are carried out
in accordance with the terms of the Public Utility Holding Company Act
of 1935 (the "Act") and the rules promulgated thereunder. In the
January 1994 Order, the Commission reserved jurisdiction over the
issue for which authority is being requested in this amendment as well
as an additional issue for which authority is not being requested in
this amendment.
In order to request authority for the Applicants to issue
guarantees and assume liabilities in connection with development
activities and in connection with contingent liabilities subsequent to
commencement of operation only for projects in which the Applicants
can acquire an interest without prior Commission approval ("Exempt
Projects")1 under the Energy Policy Act of 1992 ("EPA"), the
Applicants hereby amend and restate paragraph C of Item 1 of Post-
Effective Amendment No. 6 as follows:
Item 1. Description of Proposed Transaction
C. Request for Expansion of Authority for Activities
Relating to Preliminary Development, Development and
Operation
Pursuant to the January 1994 Order, the Applicants received
authority to expand the scope of their permissible preliminary
development activities to permit them to issue guarantees and assume
the liabilities of subsidiary companies.2 In accordance with the
terms of this order, any guarantees and assumptions of liability made
for projects requiring prior Commission approval ("Non-Exempt
Projects") will be limited to preliminary development activities and
will not include guarantees relating to construction financing or
permanent financing. The total value of such guarantees and
assumptions of liability outstanding at any time will not exceed $20
million. The term of any such guarantee or assumption of liability
will not exceed five years. Until such time as there is no
possibility of a claim against Charter Oak or Northeast, the full
contingent amount of any guarantees or assumptions of liabilities will
be counted as part of the authorized development activities limit
authorized in the January 1994 Order.
Similarly, in connection with Exempt Projects, the full
contingent amount of guarantees and assumptions of liability made for
preliminary development activities for EWGs and FUCOs will be counted
as part of the development activities limit authorized in the January
1994 Order.
The Applicants hereby seek authority under Rule 53 of the
Act, as promulgated in the EPA, to issue guarantees and assume the
liabilities of subsidiary companies for development activities,
including construction and permanent financing, and for contingent
liabilities subsequent to operation with regard to Exempt Projects.
Charter Oak has found that on occasion such guarantees and assumptions
of liability may provide them with opportunities to participate in
private power opportunities on a favorable basis without expending
funds.
Again, until such time as there is no possibility of a claim
against Charter Oak or NU, the full contingent amount of any of the
guarantees and assumptions of liability, the authority for which is
being requested hereunder, will be counted as part of the $100 million
investment activities limit authorized in the January 1994 Order.
Item 5 Procedure
On March 18, 1994, the Commission issued and published the
requisite notice under Rule 23 with respect to the filing of this
request for authority and no intervention occurred within the
specified period. Consequently, we hereby request that the Commission
enter not later than July 7, 1994 an appropriate order granting and
permitting this Amendment to become effective.
Applicants respectfully request that appropriate and timely
action be taken by the Commission in this matter. Applicants hereby
waive any recommended decision by a hearing officer or by any other
responsible officer of the Commission and waive the 30-day waiting
period between issuance of the Commission's order and the date on
1 For purposes of this Amendment, the term Exempt Projects shall
include FUCOs only to the extent that Commission approval for the
acquisition or financing of any such entity by the Applicants is
not required under the Act and applicable rules and regulations
thereunder as then in effect.
2 Such guarantees and assumptions of liabilities may include
bid bonds, earnest money, reimbursement obligations to
parties providing letters of credit, performance bonds and
material and payment bonds.
which it is to become effective, since it is desired that the
Commission's order, when issued, become effective forthwith,
Applicants hereby consent to the Office of Public Utility Regulation
within the Division of Investment Management assisting in the
preparation of the Commission's decision and/or order unless the
Office opposes the transactions covered by this Amendment.
SIGNATURE
Pursuant to the requirements of the Public Utility Holding
Company Act of 1935, the undersigned companies have duly caused this
Amendment to be signed on their behalf by the undersigned thereunto
duly authorized.
NORTHEAST UTILITIES
CHARTER OAK ENERGY, INC.
COE DEVELOPMENT CORPORATION
By: /s/
William S. Lamb
LeBoeuf, Lamb, Greene & MacRae,
A Partnership Including
Professional Corporations
125 W. 55th Street
New York, NY 10019-4513
Attorney for Northeast Utilities,
Charter Oak Energy, Inc. and COE
Development Corporation
Date: July 1, 1994
