[Federal Register Volume 68, Number 48 (Wednesday, March 12, 2003)]
[Notices]
[Pages 11881-11882]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 03-5875]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 35-27657]


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

March 6, 2003.
    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 
application(s) and/or declaration(s) for complete statements of the 
proposed transaction(s) summarized below. The application(s) and/or 
declaration(s) and any amendment(s) 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 
application(s) and/or declaration(s) should submit their views in 
writing by March 31, 2003, to the Secretary, Securities and Exchange 
Commission, Washington, DC 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 the case of an attorney at law, 
by certificate) should be filed with the request. Any request for 
hearing

[[Page 11882]]

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 March 31, 2003, the application(s) and/or declaration(s), 
as filed or as amended, may be granted and/or permitted to become 
effective.

Allegheny Energy, Inc. (70-8553)

    Allegheny Energy, Inc. (``Allegheny''), a registered holding 
company, 10435 Downsville Pike, Hagerstown, Maryland 21740-1766, has 
filed a post-effective amendment under sections 6(a) and 7 of the Act 
and rule 54 under the Act.
    By prior orders dated September 14, 1990 (HCAR No. 25150), March 
17, 1987 (HCAR No. 24344), June 19, 1984 (HCAR No. 23333), June 23, 
1983 (HCAR No. 22985), April 29, 1980 (HCAR No. 21542), and August 5, 
1977 (HCAR No. 20131), the Commission authorized Allegheny to issue and 
sell up to 12 million shares of its common stock through its Employee 
Stock Ownership and Savings Plan (``ESOSP'') \1\ and Dividend 
Reinvestment and Stock Purchase Plan (``DRISP'').\2\ By order dated 
March 22, 1995 (HCAR No. 26255), the Commission also authorized 
Allegheny to issue up to an additional 6.025 million shares of its 
common stock: (1) Through the ESOSP; (2) through the DRISP; and (3) to 
members of Allegheny's board of directors that are not (during their 
terms of service as a director) an employee of Allegheny or any of its 
subsidiaries (``Outside Director'').
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    \1\ The ESOSP is designed to enable employees of Allegheny and 
its participating subsidiaries to provide for their futures through 
tax deferred pre-tax contributions (which are matched by employer 
contributions) and post-tax contributions. The savings plan is 
comprised of two portions: An employee stock ownership plan as 
described in section 4975(e)(7) of the Internal Revenue Code, which 
is designed to invest primarily in shares of Allegheny's common 
stock, and a profit sharing plan.
    \2\ Allegheny's authority increased to 24 million shares as a 
result of a two-for-one stock split, effective November 4, 1993. See 
HCAR No. 25911.
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    Allegheny now requests authority to issue up to an additional 
20,500,000 authorized shares of its common stock through December 31, 
2008, as follows: up to 20 million shares through the ESOSP, and up to 
500,000 shares as compensation for its Outside Directors.\3\
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    \3\ Allegheny states that part of the annual compensation it 
offers its Outside Directors consists of $12,000 worth of the 
company's common stock.

    For the Commission, by the Division of Investment Management, 
pursuant to delegated authority.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 03-5875 Filed 3-11-03; 8:45 am]
BILLING CODE 8010-01-P