[Federal Register Volume 67, Number 25 (Wednesday, February 6, 2002)]
[Notices]
[Page 5578]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 02-2817]


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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[Docket No. ER01-2928-000, 001, and 002]


Progress Ventures, Inc.; Notice of Issuance of Order

January 31, 2002.
    Progress Ventures, Inc.\1\ (Progress Ventures) submitted for filing 
a tariff that provides for the sales of capacity, energy, and ancillary 
services at market-based rates and for the reassignment of transmission 
capacity. Progress Ventures also requested waiver of various Commission 
regulations. In particular, Progress Ventures requested that the 
Commission grant blanket approval under 18 CFR part 34 of all future 
issuances of securities and assumptions of liability by Progress 
Ventures.
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    \1\ Progress Ventures is an indirect, wholly-owned subsidiary of 
Progress Energy, Inc., a registered holding company under the Public 
Utility Holding Company Act of 1935. Progress Ventures is an 
intermediate holding company formed to hold 100% indirect interest 
in certain exempt wholesale generators.
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    On January 25, 2002, pursuant to delegated authority, the Director, 
Office of Markets, Tariffs and Rates-East, granted requests for blanket 
approval under Part 34, subject to the following:
    Acceptance of Progress Ventures' market-based rate tariff is 
subject to any tariff condition adopted by the Commission in Docket No. 
EL01-118-000.
    Any person desiring to be heard or to protest the blanket approval 
of issuances of securities or assumptions of liability by Progress 
Ventures should file a motion to intervene or protest with the Federal 
Energy Regulatory Commission, 888 First Street, NE, Washington, DC 
20426, in accordance with Rules 211 and 214 of the Commission's Rules 
of Practice and Procedure (18 CFR 385.211 and 385.214).
    Absent a request to be heard in opposition within this period, 
Progress Ventures is authorized to issue securities and assume 
obligations or liabilities as a guarantor, indorser, surety, or 
otherwise in respect of any security of another person; provided that 
such issuance or assumption is for some lawful object within the 
corporate purposes of Progress Ventures, compatible with the public 
interest, and is reasonably necessary or appropriate for such purposes.
    The Commission reserves the right to require a further showing that 
neither public nor private interests will be adversely affected by 
continued approval of Progress Ventures' issuances of securities or 
assumptions of liability.
    Notice is hereby given that the deadline for filing motions to 
intervene or protests, as set forth above, is February 25, 2002.
    Copies of the full text of the Order are available from the 
Commission's Public Reference Branch, 888 First Street, NE, Washington, 
DC 20426. The Order may also be viewed on the Internet at 
http://www.ferc.fed.us/online/rims.htm (call 202-208-2222 for 
assistance). Comments, protests, and interventions may be filed 
electronically via the internet in lieu of paper. See, 18 CFR 
385.2001(a)(1)(iii) and the instructions on the Commission's Web site 
at 
http://www.ferc.fed.us/efi/doorbell.htm.

Magalie R. Salas,
Secretary.
[FR Doc. 02-2817 Filed 2-5-02; 8:45 am]
BILLING CODE 6717-01-P