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
CONTACT ENERGY LIMITED
_______________________________
(Name of foreign utility company)
by
EDISON MISSION ENERGY
________________________
(Name of filing company)
18101 Von Karman Avenue
Suite 1700
Irvine, California 92715-1007
<PAGE>
Item 1
Name and business address of the entity claiming foreign utility company
status
Contact Energy Limited
Level 1
Harbour City Tower
29 Brandon Street
Wellington
New Zealand
Description of the facilities used for the generation, transmission, or
distribution of electric
energy for sale
Contact Energy Limited (Contact) owns the following generating
facilities in
operation or nearing the completion of construction in New Zealand:
Otahuhu A 85 MW gas turbine North Island, South Auckland
Otahuhu B 395 MW combined cycle North Island, South Auckland
Te Rapa 44 MW gas cogeneration North Island
Ohaaki 165 MW geothermal North Island
Wairakei 165 MW geothermal North Island
Whirinaki 162 MW gas turbine North Island
New Plymouth 580 MW gas North Island
Stratford 198 MW gas turbine North Island
Clyde 432 MW hydroelectric South Island
Roxburgh 320 MW hydroelectric South Island
Contact also has a 28 percent interest in Southern Hydro Partnership,
which owns
the following generating facilities in operation or nearing the completion
of construction in
Australia:
Dartmouth 150 MW hydroelectric
Kiewa Scheme 193 MW hydroelectric
Rubicon Scheme 14 MW hydroelectric
Eildon 120 MW hydroelectric
Cairn Curran 2 MW hydroelectric
Contact also has a 17 percent interest in a distillate and gas-fired
facility under
construction at Oakey in Queensland, which is due to be completed in
November of 1999.
Ownership of the Company
The owner of Contact is currently the Crown of New Zealand.
Edison Mission
Energy (EME), through its subsidiary Energy Mission Energy Taupo Limited
(EMETL),
intends to acquire 40 percent of the issued shares in Contact on or about
May 13, 1999.
EME and EMETL are indirect wholly-owned subsidiaries of Edison
International, an
exempt holding company, as further described below.
In addition to the 40 percent interest being acquired by EMETL, the
Crown is
offering up to 60 percent of the issued shares in Contact to members of
the public in New
Zealand and to institutional investors in New Zealand and Australia.
Item 2
Domestic associate public-utility company and holding company
Southern California Edison Company (Edison) is the only domestic
public-utility
company that will be an associate company of Contact. Edison itself will
have no interest
in Contact. Edison is a direct, wholly-owned subsidiary company of Edison
International,
which is a public utility holding company exempt from registration under
section 3(a)(1)
of the Public Utility Holding Company Act of 1935, as amended (Act),
pursuant to Rule 2.
EMETL is wholly-owned by EME Royale, which is wholly-owned by Majestic
Energy Limited, which is wholly-owned by Edison Mission Energy Global
Management,
Inc, which is wholly-owned by EME. EME is wholly-owned by The Mission
Group,
which is wholly-owned by Edison International.
EXHIBIT A
Documents incorporated by reference
Edison is the only associate company or affiliate of EMETL that is
subject to the
regulation of its retail electric or gas rates by a State commission.
The California Public
Utilities Commission (PUC) is the sole State commission with jurisdiction
over the retail rates of Edison.
Section 33(a)(2) of the Act provides that an exemption under section
33(a)(1) shall
not apply or be effective unless every State commission having
jurisdiction over the retail
electric or gas rates of a public utility company that is an associate
company or an
affiliate company of a company otherwise exempted under section 33(a)(1)
"has certified
to the Commission that it has the authority and resources to protect
ratepayers subject to
its jurisdiction and that it intends to exercise its authority." However,
this requirement is
deemed satisfied if the State commission had, prior to the date of
enactment of the Energy
Policy Act of 1992 (October 24, 1992) "on the basis of prescribed
conditions of general
applicability, determined that ratepayers of a public utility company are
adequately
insulated from the effects of diversification and the diversification
would not impair the
ability of the State commission to regulate effectively the operations of
such company."
As contemplated by this provision, the PUC in authorizing the creation of
Edison
International (formerly SCEcorp) in 1988 considered the effect of
diversification on Edison. The PUC imposed various conditions of general
applicability on the operations of
the holding company system and, based on those conditions, determined that
the ratepayers of Edison are adequately insulated from the effects of
diversification, and that diversification would not impair the PUC's
ability to regulate effectively Edison's
operations.
In approving the formation of the Edison International holding
company system,
the PUC imposed 15 conditions of general applicability on Edison and the
holding
company. Southern California Edison Company, 90 PUR4th 45 (Cal. PUC 1988).
In formulating these conditions, the PUC recognized the primary importance
of insulating
Edison's ratepayers from the effect of diversification: "The one thing we
must make sure of is that the activities of the holding company and its
nonutility enterprises do not
adversely affect the ratepayers of the utility." Id. at 63. The PUC
concluded that the conditions it adopted with regard to financial controls
and reporting were "adequate to support our regulatory function" of so
insulating Edison's ratepayers. Id. Accordingly,
the PUC adopted the conclusion of its Division of Ratepayer Advocates that
the general
conditions imposed upon the holding company would "[e]nsure that Edison
ratepayers are
insulated from all effects of nonutility activities." Id. at 69.
Additionally, the PUC found that "given the conditions we will
require, there should be no diminution of the Commission's ability to
regulate Edison effectively or
Edison's ability to provide reliable utility service at reasonable rates."
Id. at 57. "The proposed reorganization is designed to result in a
corporate structure which enhances
management's ability to take advantage of nonutility business opportunities
should they arise while not diminishing the Commission's ability to
effectively regulate utility operations." Id. at 68.
Accordingly, Contact meets the criteria set forth in section 33(a)
for qualification as a "foreign utility company."
The undersigned company has duly caused this statement to be signed
on its behalf by the undersigned officer thereunto duly authorized.
By: /s/ Richard Lehfeldt
Richard Lehfeldt
Vice President and Assistant General Counsel
Edison Mission Energy
18101 Von Karman Avenue, Suite 1700
Irvine, California 92715-1007
May 10, 1999
