File No. _________________
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
MEDWAY POWER LIMITED
(Name of foreign utility company)
THE AES CORPORATION
(Name of filing company, if filed on behalf of a foreign utility company)
ITEM 1
Foreign utility status is claimed by Medway Power Limited ("Medway
Power"), located in Southeast England on the Isle of Grain. Medway Power owns a
660 megawatt combined cycle gas-fired power plant.
Medway Power is a joint venture among AES Medway Electric Limited ("AES
Medway"), an indirectly owned U.K. subsidiary of The AES Corporation ("AES") and
Southern Electric Power Generation Limited (a subsidiary of Southern Electric
plc) ("Southern") and SEEBOARD (Generation) Limited (a subsidiary of SEEBOARD
plc) ("SEEBOARD"). Southern and SEEBOARD were sold into private ownership in
1990 as part of theUK's electricity privatisation programme. Their primary
business is the distribution and supply of electricity to domestic and
industrial customers. Southern is based in Maidenhead, Berkshire and SEEBOARD is
based in Hove, East Sussex. AES Medway Operations Limited ("AESMO"), an
indirectly owned U.K. subsidiary of AES, operates and maintains the plant.
Medway Power sells its entire output through national electricity pool
trading arrangements (the "Pool") at prices based on the supply of, and demand
for, electricity available in the Pool. In addition, Medway Power has entered
into a contract with each of Southern and SEEBOARD, under which Southern and
SEEBOARD will pay Medway Power capacity payments based on the plant's available
capacity, and energy cost payments, based on the plant's actual sales of
electricity to the Pool, that reflect fuel costs and variable transmission
charges incurred (each a "Contract for Differences"). The basis of the contracts
is 660 megawatts. Sales of electrical output in excess of 660 megawatts are sold
into the Pool, and not subject to the Contract for Differences.
ITEM 2
Not Applicable.
EXHIBIT A
Not Applicable.
The undersigned company has duly caused this statement to be signed on
its behalf by the undersigned thereunto duly authorized.
By: /s/ William R. Luraschi
---------------------------
William R. Luraschi
General Counsel
The AES Corporation
1001 N. 19th Street
Arlington, Virginia 22209
(703) 522-1315
Dated: December 23, 1997
