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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
IES New Zealand Limited
1st Floor, 87 Hurstmere Road
Takapuna, Auckland 1309
New Zealand
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(Name of foreign utility company)
IES Industries Inc.
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(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
IES New Zealand Limited ("IES New Zealand"), a New Zealand corporation and a
wholly-owned subsidiary of IES, hereby notifies the Securities and Exchange
Commission (the "Commission") that IES New Zealand is, and hereby claims status
as, a foreign utility company ("FUCO") within the meaning of Section 33 of the
Public Utility Holding Company Act of 1935, as amended.
Item 1. Name, Business, Address, Facilities and Ownership.
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The name and business address of the company claiming FUCO status is
IES New Zealand Limited, 1st Floor, 87 Hurstmere Road, P.O. Box 33-1247,
Takapuna, Auckland 1309, New Zealand.
IES New Zealand currently owns approximately nine percent of the
common stock of Powerco Limited ("Powerco"), a New Zealand utility company whose
business address is 151 St. Hill Street, Wanganui, New Zealand. Powerco serves
approximately 80,000 electric and 20,000 gas customers in the Wanganui area of
New Zealand. IES New Zealand also currently owns approximately nine percent of
the common stock of Central Power Limited ("Central Power"), a New Zealand
utility company whose business address is 400 Church Street, Palmerston North,
New Zealand. Central Power, an electric distribution company, serves
approximately 51,000 customers in the Palmerston North area of New Zealand. IES
Investments Inc., an Iowa corporation which is a wholly-owned subsidiary of IES
Diversified Inc. ("Diversified"), has a $10 million loan outstanding to a New
Zealand company which is secured by stock options of the borrower company. The
borrower company, in turn, owns less than ten percent of the common stock of
Powerco.
IES New Zealand currently does business only through its ownership of
the common stock of the New Zealand companies, and it is anticipated that any
future acquisition would likewise be only in New Zealand or Australia. It
partially owns and operates facilities that are not located in any State in the
United States of America (the "United States") and that are used for the
generation, transmission, or distribution of electric energy. IES New Zealand
will not derive any 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 IES New Zealand and
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their Relationship to IES New Zealand.
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IES New Zealand 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 Diversified, which serves as the holding company for
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substantially all of the non-utility businesses of IES. Diversified 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
IES New Zealand. IES owns all of the issued and outstanding shares of common
stock of Utilities. At present, apart from its affiliation to IES, Utilities has
no relationship with IES New Zealand. If Interstate Services, Inc. ("Services")
is formed as described in the Form U-1 in File No. 70-8891 of the Commission,
Services may also perform services for New Zealand and its subsidiaries in
accordance with the rules and regulations, if applicable, of the Iowa Utilities
Board ("IUB") and the Commission.
Exhibit A: State certification.
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Attached as Exhibit A is a letter from the IUB dated July 29, 1994,
certifying that it has the authority and resources to protect ratepayers subject
to its jurisdiction with respect to IES New Zealand. The IUB is the only state
commission that has retail rate jurisdiction over IES.
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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: November 20, 1997
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EXHIBIT A
[IOWA UTILITIES BOARD LETTERHEAD]
July 29, 1994
Securities and Exchange Commission
450 Fifth Street N.W.
Washington, D.C. 20549
Dear Sirs:
The Iowa Utilities Board has been advised IES Industries Inc. (IES), through a
subsidiary or other entity in which IES holds an ownership interest, has or
may obtain an interest in electrical facilities in New Zealand. This letter is
submitted pursuant to the requirements of Section 33(a)(2) of the Public
Utility Holding Company Act of 1935, as amended (the Act).
The Iowa Utilities Board hereby certifies to you that it has the authority and
resources to protect ratepayers subject to its jurisdiction with respect to any
such acquisitions and that it intends to exercise its authority.
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, and a subsidiary of IES.
Sincerely,
/s/ DENNIS J. NAGEL
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Dennis J. Nagel
Chairperson
Iowa Utilities Board
/gds
LUCAS STATE OFFICE BUILDING/DES MOINES, IOWA 50319
