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In addition, PUHCA requires that before purchasing securities or property from another company, a holding company must file for approval with the SEC. This plant was located at Nictaux Falls, about 4km south of Middleton, in Annapolis County. The merger follows a trend in the restructuring of state electricity markets.NSL 1923 chapter 121 — Act respecting the Avon River Power Co. In 1921, the Avon River Power Company was incorporated by Roy Jodrey and Charles Wright. It was demolished in the early 1950s to make way for the construction of the new and larger hydro-electric power plant, also called Nictaux, that was built on this site by the Nova Scotia Light & Power Company, and put into service about 1956. Under government-mandated deregulation, companies that once made and delivered electricity were told to sell their generators but keep and maintain the transmission lines.Even with this arrangement, the distribution system would not have been able to supply electricity to the farthest customer at satisfactory voltage. The acquisition premium is the difference between the asking price and book value.
The system has been in operation for five months and has at present 23 consumers connected with the expectation of serving a total of 40 consumers, together with nine 60-watt street lights. NS Power has not raised its electric rates in three years, he said, and plans on keeping them at their current level for the next two years.
A holding company under PUHCA is an enterprise that directly or indirectly owns 10% or more of stock in a public utility company. Its primary business is Nova Scotia Power, an integrated electricity generator and transmission and distribution company with more than 440,000 customers and ,900,000,000 Canadian in assets.
To eliminate the complex and confusing structure of holding companies that had made them almost impossible to regulate, Section 11b of Title I (the "Death Sentence Clause") of PUHCA abolishes all holding companies that were more than twice removed from their operating subsidiaries. and thereafter operated it as a wholly-owned subsidiary. bought six small electric utilities: Centreville Electric Light & Power Company, Gaspereaux Valley Electric Light Company, Lower Horton Electric Company, Kingston Electric Light Commission, the Town of Middleton's electric power system, and Sheffield Mills Light & Power Company. bought the electric power distribution system owned and operated by the Canning Water Commissioners. Bangor Hydro has 192,000 customers and assets of 4,000,000 (about C0,000,000). The company also has a financial interest in the Maritimes and Northeast natural gas pipeline which is being installed through Maine.
The photo was taken from a position downstream from the plant, looking upstream over the tailrace toward the tailrace tunnels. Also see: Bear River Electric Light, Heating & Power Co. NSL 1899 chapter 137 — Act to change the name of the Bear River Electric Light, Heating & Power Co to the Bear River & Digby Electric Light, Heating & Power Co. That was the intent of the merger between CMP Group, owners of Central Maine Power Co., and Energy East.
The smaller tailrace tunnel, on the left in the photo, was for the original generating unit; the larger tunnel on the right, was for unit number two. Also see: Bear River & Digby Electric Light, Heating & Power Co. The ratepayers of Bridgetown, at a meeting called for the purpose of voting upon thepurchase of the electric light system of that town on Tuesday evening [25 May, 1909 ? Only one regulatory group has not yet approved the merger.
The surface appearance of the tailrace clearly indicates that generator number one was running at the time the photograph was taken. ],decided by a vote of 17 for and 4 against, the sum of ,000. Beckwith, representing the electric light company, has declined to accept. The Securities and Exchange Commission is expected to rule in July.