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

[Federal Register Volume 64, Number 185 (Friday, September 24, 1999)]
[Notices]
[Pages 51809-51810]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 99-24913]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 35-27076]


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

September 20, 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 
application(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 October 12, 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 October 12, 1999, the application(s) and/or 
declaration(s), as filed or as amended, may be granted and/or permitted 
to become effective.

Columbia Energy Group, et.al. (70-9491)

    Columbia Energy Group (``Columbia''), 13880 Dulles Corner Lane, 
Herndon, Virginia 20171-4600, a registered holding company, and its 
nonutility subsidiary companies, Columbia Energy Group Service 
Corporation (``CES''), Columbia LNG Corporation, CLNG Corporation, Cove 
Point LNG Limited Partnership, Columbia Atlantic Trading Corporation, 
Columbia Energy Services Corporation, Columbia Energy Retail 
Corporation (``CRC''), Columbia Energy Power Marketing Corporation 
(``CPM''), Columbia Energy Marketing Corporation (``CEM''), Energy.Com 
Corporation (``Energy.Com''), Columbia Service Partners, Inc. 
(``CSP''), Columbia Assurance Agency, Inc. (``CAA''), Columbia Energy 
Group Capital Corporation, Columbia Transmission Communications 
Corporation, Tristar Gas Technologies, Inc., Enertek Partners, L.P., 
Columbia Pipeline Corporation, Columbia Deep Water Services 
Corporation, Columbia Finance Corporation, Columbia Accounts Receivable 
Corporation, Columbia Electric Corporation, Columbia Electric Pedrick 
Limited Corporation, Columbia Electric Pedrick General Corporation, 
Columbia Electric Binghamton Limited Corporation, Columbia Electric 
Binghamton General Corporation, Columbia Electric Vineland Limited 
Corporation, Columbia Electric Vineland General Corporation, Columbia 
Electric Rumford Limited Corporation, Columbia Electric Limited 
Holdings Corporation, Columbia Electric Liberty Corporation, Columbia 
Electric Gregory Remington Corporation, and Columbia Electric Gregory 
General Corporation, all located at 13880 Dulles Corner Lane, Herndon, 
Virginia 20171-4600; Columbia Energy Resources, Inc., Columbia Natural 
Resources, Inc., Alamco-Delaware, Inc., Hawg Hauling & Disposal, Inc., 
Phoenix-Alamco Ventures, L.L.C., and Columbia Natural Resources Canada, 
Ltd., all

[[Page 51810]]

located c/o 900 Pennsylvania Avenue, Charleston, West Virginia 25302; 
Columbia Gas Transmission Corporation and Millennium Pipeline, L.P., 
both located at 12801 Fair Lakes Parkway, Fairfax, Virginia 22030-0146; 
Columbia Gulf Transmission Company, Trailblazer Pipeline Company, and 
CGT Trailblazer, L.L.C., all located at 2603 Augusta, Suite 125, 
Houston, Texas 77057; Columbia Network Services Corporation, CNS 
Microwave, Inc., and Energynet, L.L.C., all located at 1600 Dublin 
Road, Columbus, Ohio 43215-1082; Columbia Propane Corporation and 
Atlantic Energy, Inc., both located at 9200 Arboretum Parkway, Suite 
140, Richmond, Virginia 23236; and Columbia Insurance Corporation, 
Ltd., Craig Appin House, 8 Wesley Street, Hamilton HM EX, Bermuda, have 
filed an application-declaration under sections 6(a), 7, 9(a), 10 and 
12(c) of the Act and rules 42, 43, 45, and 54 under the Act.
    In summary, applicants seek increased flexibility to restructure 
Columbia's nonutility holdings from time to time as may be necessary or 
appropriate in the furtherance of its authorized nonutility activities. 
The restructuring could involve the formation of one or more new 
special-purpose subsidiaries to hold direct or indirect interests in 
any or all of the Columbia system's existing or future authorized 
nonutility businesses. The restructuring could also involve the 
transfer of existing subsidiaries, or portions of existing businesses, 
among Columbia associates and/or the reincorporation of existing 
subsidiaries in a different state.\1\ This flexibility would enable the 
Columbia system to consolidate similar businesses and to participate 
effectively in authorized nonutility activities, without the need to 
apply for or receive additional Commission approval.
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    \1\ This reincorporation could take place by merging an existing 
subsidiary with a new successor incorporated in the desired state.
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    These direct or indirect subsidiaries might be corporations, 
partnerships, limited liability companies or other entities in which 
Columbia, directly or indirectly, might have a 100% interest, a 
majority equity or debt position, or a minority debt or equity 
position. These subsidiaries would engage only in businesses to the 
extent the Columbia system is authorized, whether by statute, rule 
regulation or order.
    As an example, Columbia intends to restructure the interests held 
by its wholly-owned gas marketing subsidiary, CES. Currently, CES has 
several subsidiaries engaged in various nonutility businesses. These 
subsidiaries include CEM, CPM,\2\ CRC, CSP, CAA, and Energy.Com. CEM is 
engaged in the marketing of gas produced by its associate company 
Columbia Energy Resources, Inc. (formerly named Columbia Natural 
Resources, Inc.). CPM is an energy products company that markets and 
brokers various forms of energy, including electric energy, natural 
gas, manufactured gas, propane, natural gas liquids, oil, refined 
petroleum and petroleum products, coal and/or wood products and 
emissions allowances. CRC is engaged in retail electric and gas 
marketing activities within the United States. CSP provides energy-
related services to industrial commercial and residential customers 
nationwide. CAA, a wholly-owned subsidiary of CSP, was formed to comply 
with the requirements of state law in connection with bill insurance 
activities. Energy.Com is an exempt telecommunications company that 
provides energy consumers access to information on products of 
affiliated and non-affiliated companies offering energy and energy 
related products and services, as well as educational information on 
the energy industry in general.
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    \2\ Columbia announced its intention to sell its wholesale gas 
and electric trading operations in an August 30, 1999 press release.
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    Specifically, Columbia would reorganize CES and its subsidiaries 
under a new, first-tier subsidiary (``CES Holdings''). Applicants 
currently contemplate that CES Holding will own all of the outstanding 
voting securities of CES, CEM, CPM, CRC, CSP, CAA, and through CES, 
Energy.COM. Applicants state that each of CES Holdings' subsidiaries 
will continue to engage in their current activities. CAA will serve as 
a licensed broker in connection with authorized bill insurance 
activities.
    The proposed restructuring would be accomplished by CEG 
contributing the stock of CES to a newly-formed, special-purpose 
subsidiary, CES Holdings, followed by the sale by CES of all the 
outstanding stock of its subsidiaries, other than Energy.Com, to CES 
Holdings.\3\ However Columbia may, under the proposed authority, adopt 
a different structure or employ a different method of reorganization, 
to accomplish the reorganization of CES' nonutility interests.
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    \3\ Columbia also intends, under the requested authority, to 
reincorporate CES in the state of Delaware.
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    Columbia will obtain funds for initial and subsequent investments 
in its new subsidiaries from internally generated funds and/or the 
proceeds of otherwise authorized financing transactions. Should 
Columbia provide funds to its new subsidiaries which are then applied 
to investments in exempt wholesale generators, foreign utility 
companies, or companies formed in accordance with rule 58, the amount 
of such funds will be included in the investment limitations imposed by 
rule 53 or rule 58, as applicable.

    For the Commission by the Division of Investment Management, 
under delegated authority.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 99-24913 Filed 9-23-99; 8:45 am]
BILLING CODE 8010-01-M