[Federal Register Volume 64, Number 204 (Friday, October 22, 1999)]
[Notices]
[Page 57160]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 99-27598]



[[Page 57160]]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 35-27088]


Filings Under the Public Utility Holding Company Act of 1935, as 
amended (``Act'')

October 15, 1999.
    Notice is hereby given that the following filing(s) has/have been 
made with the Commission pursuant to provisions of the Act and rules 
promulgated under the Act. All interested persons are referred to the 
applications(s) and/or declaration(s) for complete statements of the 
proposed transactions(s) summarized below. The application(s) and/or 
declarations(s) and any amendments is/are available for public 
inspection through the Commission's Branch of Public Reference.
    Interested persons wishing to comment or request a hearing on the 
applications(s) and/or declaration(s) should submit their views in 
writing by November 9, 1999, to the Secretary, Securities and Exchange 
Commission, Washington, D.C. 20549-0609, and serve a copy on the 
relevant applicant(s) and/or declarant(s) at the address(es) specified 
below. Proof of service (by affidavit or, in case of an attorney at 
law, by certificate) should be filed with the request. Any request for 
hearing should identify specifically the issues of facts or law that 
are disputed. A person who so requests will be notified of any hearing, 
if ordered, and will receive a copy of any notice or order issued in 
the matter. After November 9, 1999, the application(s) and/or 
declaration(s), as filed or as amended, may be granted and/or permitted 
to become effective.

Jersey Central Power & Light Company (70-6903)

    Jersey Central Power & Light Company (``JCP&L''), 2800 Pottsville 
Pike, Reading, Pennsylvania 19605, an electric utility subsidiary of 
GPU, Inc., a registered holding company, has filed a post-effective 
amendment to its application under sections 9(a) and 10 of the Act and 
rule 54 under the Act.
    By orders dated November 16, 1983 (HCAR No. 23121), November 19, 
1984 (HCAR No. 23486), July 30, 1985 (HCAR No. 23773), June 27, 1986 
(HCAR No. 24138), January 17, 1990 (HCAR No. 25007), and October 24, 
1994 (HCAR No. 26149) (``Orders''), the Commission authorized JCP&L, 
from time to time through December 31, 1999 (``Authorization Period''), 
to acquire obligations of its electric customers with an aggregate 
value of up to $15 million. These obligations arise from participation 
by these customers in the JCP&L Home Energy Loan Program, Solar Water 
Heating Conversion Program, and Electric Heat Conversion Program 
(``Programs'') and consist of notes evidencing disbursements made by 
JCP&L to contractors on behalf of its customers in connection with the 
Programs. In the Orders the Commission also authorized JCP&L to incur 
up to $750,000 in administrative and other expenses related to the 
Programs.
    JCP&L now requests the Commission to extend the Authorization 
Period through March 31, 2005. In all other respects the proposed 
transactions would not differ from those previously approved by the 
Commission in this proceeding.

American Electric Power Company, Inc., et al. (70-9353)

    American Electric Power Company, Inc., a registered holding 
company, and its nonutility subsidiaries, AEP Resources, Inc. 
(``Resources'') and AEP Energy Services, Inc. (``Services'') (together, 
``Applicants''), all located at 1 Riverside Plaza, Columbus, Ohio 
43215, have filed a post-effective amendment under section 12(c) of the 
Act and rules 46(a) and 54 under the Act to their application-
declaration previously filed under the Act.
    By orders dated September 13, 1996 and September 27, 1996 (HCAR 
Nos. 26572 and 26583), the Commission authorized AEP to form one or 
more direct or indirect nonutility subsidiaries to broker and market 
energy commodities (``Commodities Business''). Subsequently, by order 
dated November 2, 1998 (HCAR No. 26933), the Applicants were authorized 
to invest up to $800 million in certain nonutility assets related to 
the Commodities Business (``Energy Assets'') or in the equity 
securities of companies whose assets substantially consist of Energy 
Assets (``Energy Asset Subsidiaries'').
    The Applicants now request authority for the Energy Asset 
Subsidiaries to pay dividends to their parent companies from time to 
time out of capital or unearned surplus. The Applicants state that the 
ability of the Energy Asset Subsidiaries to use distributable cash to 
pay dividends to Resources or Services will benefit the AEP system by 
enabling Resources and Services to pay dividends to AEP or to apply 
those amounts to reducing or refinancing outstanding bank borrowings 
and to fund the operations of AEP's other subsidiaries.

    For the Commission by the Division of Investment Management, 
under delegated authority.
Jonathan G. Katz,
Secretary.
[FR Doc. 99-27598 Filed 10-21-99; 8:45 am]
BILLING CODE 8010-01-M