[Federal Register Volume 69, Number 89 (Friday, May 7, 2004)]
[Notices]
[Pages 25631-25632]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 04-10464]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 35-27843]


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

May 3, 2004.
    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 May 24, 2004, 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 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 May 24, 2004, the application(s) and/or 
declaration(s), as filed or as amended, may be granted and/or permitted 
to become effective.

Enron Corp., et al. (70-10200)

    Enron Corp. (``Enron''), Four Houston Center, 1221 Lamar, Suite 
1600, Houston, Texas 77010-1221, a registered holding company, on its 
behalf and on behalf of its subsidiaries, including Portland General 
Electric Company (``Portland General''), a public utility company, 121 
Salmon Street, Portland, Oregon 97204 (collectively, ``Applicants'') 
has filed a post-effective amendment to an application-declaration 
(``Application'') under sections 6(a), 7, 12(b), 12(c) of the Act and 
rule 45, 46 and 54 under the Act.\1\
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    \1\ Applicants include both debtor and non-debtor subsidiaries 
of Enron.
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    On February 6, 2004, as amended on March 9, 2004, Applicants filed 
with the Commission an application-declaration on Form U-1 under File 
No. 70-10200 (the ``Omnibus Application'').\2\ On March 9, 2004, the 
Commission issued an order granting the relief requested by Applicants 
in the Omnibus Application. In this Application, Applicants seek a 
supplemental order authorizing: Revisions to the list of Applicants and 
Enron to issue letters of credit in connection with the expiration of 
the second amended debtor in possession credit agreement.
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    \2\ Holding Co. Act Release No. 27809.
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    Enron states that some of its subsidiaries were inadvertently 
excluded from the list of Applicants in Exhibit H of the Omnibus 
Application (``Omitted Subsidiaries''). Enron requests that the 
Commission issue a supplemental order confirming that these nonutility 
subsidiaries of Enron also are entitled to the relief granted to other 
Enron nonutility subsidiaries in connection with the Omnibus 
Application. Enron also is submitting an amended Exhibit H, which 
includes the companies below as Applicants. Amended Exhibit H also 
reflects the deletion of companies which have been dissolved or sold 
and the reorganization of certain subsidiaries in connection with 
various reorganizations.
    The Omitted Subsidiaries are Dais-Analytic, Inc., Encorp, Inc., 
FSMx.com, Inc., Serveron, Corp., Venoco, Inc., 217 State Street, Inc., 
Ellwood Pipeline Inc., Whittier Pipeline Corporation, Inc., BMC, Ltd., 
Advanced Mobile Power Systems, LLC, Unkwang Gas Industry Co., Ltd, and 
PEI Venezuela Services LLC.
    The second amended debtor in possession credit agreement will 
expire on June 3, 2004. Enron may decide against renewing/extending the 
second amended debtor in possession credit agreement; however, Enron 
would have to extend or replace the letters of credit that are 
currently outstanding under the second amended debtor in possession 
credit agreement.
    Applicants request authority for Enron to (i) obtain up to 
$25,000,000.00, in the aggregate, in new, cash collateralized letters 
of credit to replace the letters of credit currently outstanding under 
the second amended debtor in possession credit agreement, (ii) to 
obtain a new debtor in possession credit agreement that would allow 
Enron to issue letters of credit in an amount not to exceed 
$25,000,000.00 in the event that Enron elects not to renew or extend 
the second amended debtor in possession credit agreement, or (iii) a 
combination of items (i) and (ii) above that would not, in the 
aggregate exceed an amount of $25,000,000.00. Any new letters of credit 
issued either as a stand

[[Page 25632]]

alone obligation or pursuant to a new debtor in possession credit 
agreement would be obligations of Enron or obligations of Enron's 
nonutility subsidiaries (if a letter of credit is issued on behalf of 
such a subsidiary) and would not be guaranteed by Portland General or 
any other Enron subsidiary (other than a nonutility subsidiary on 
behalf of which a letter of credit is issued).

    For the Commission, by the Division of Investment Management, 
pursuant to delegated authority.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 04-10464 Filed 5-6-04; 8:45 am]
BILLING CODE 8010-01-P