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
Italian Vento Power Corporation 4 S.r.l.
_______________________________
(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
Italian Vento Power Corporation 4 S.r.l.
Via Circumvallazione, 54/h
83100 Avellino, Italy
Description of the facilities used for the generation, transmission, or
distribution of electric energy for sale
Italian Vento Power Corporation 4 S.r.l. ("IVPC") is developing 280.7
MW of wind-generated capacity in rural Italy in eleven projects, consisting
of clusters of 660 kW and 600 kW turbines and associated equipment in the
following comunes (townships): (1) 47 turbines totaling 30 MW in Andretta
and Bisaccia; (2) 60 turbines totaling 39.6 MW in Lacedonia and Monteverde;
(3) 41 turbines totaling 27.06 MW in Monacilioni, Pielracatella, and Sant
Elia; (4) 60 turbines totaling 39.6 MW in Forenza and Maschito; (5) 25
turbines totaling 15 MW in Volturara and Motta Moniecorvino; (6) 30 tur-
bines totaling 18 MW in Roselo; (7) 47 turbines totaling 30.3 MW in Celle
San Vito, Greci, and Montaguto; (8) 30 turbines totaling 19.8 MW in Panni;
(9) 45 turbines totaling 29.7 MW in Bortigiadas, Aggius, and Vidalba;
(10) 34 turbines totaling 22.44 MW in Avigliano; and (11) 14 turbines
totaling 9.24 MW in Roseto.
The projects include transmission lines connecting the generating
facilities to the grid, ranging in length from less than 100 meters to a
maximum of 9 kilometers. IVPC is also constructing, but will not own,
substations associated with the projects.
IVPC also owns and is currently operating a 2.4 MW project in Rocca
San Felice consisting of four 600 kW turbines and associated equipment.
Ownership of the Company
IVPC Energy 5 B.V., an indirect wholly-owned subsidiary of Edison
Mission Energy ("EME"), acquired 50 percent of IVPC's shares on March 15,
2000. The other 50 percent are owned by IVPC Energy 4 B.V., a Dutch
company that is not affiliated with EME.
Item 2
Domestic associate public-utility company and holding company
Southern California Edison Company ("Edison") is the only domestic
public-utility company that is an associate company of IVPC. Edison itself
has no interest in IVPC. 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 Act, pursuant to
Rule 2.
EME, which holds indirect interests in IVPC as set forth above, 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 IVPC 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, IVPC 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:
Paul Gracey
Regional Vice President
Edison Mission Energy
18101 Von Karman Avenue, Suite 1700
Irvine, California 92715-1007
April 10, 2000
