THE PROPOSED LONGVIEW POWER PLANT
On October 12th, 90% Ownership of Longview, LLC was assigned to GenPower Holdings, L.P., a Cayman Islands Limited Partnership, according to documents filed with the WV Public Service Commission.
See below.
[Note: The announcement that Longview has acquired $1.8 billion in financing is incomplete without a full disclosure of all the conditions and stipulations attached thereto. It would be in the public interest for these conditions to be known, as they are relevant to the public understanding of this proposed power plant project.
We do know that the Siting and Transmission Certificates are under appeal to the WV Supreme Court of Appeals, the preliminary hearing being scheduled for October 24th at 10 a.m. in Charleston. We also know that the Storm Water permits for construction and for operation have not been granted, as is the case for a few other permits.]
Duane Nichols, Convenor, MVCAC.
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NOTICE OF TRANSFER OF OWNERSHIP OF LONGVIEW POWER, LLC
Comes Longview Power, LLC (“Longview”) by counsel, and provides notice to the Public Service Commission (“PSC” or “Commission”) that the ownership of Longview Power, LLC has been transferred in part to a third party. Longview will retain both the Siting Certificate for the facility and the Certificate of Convenience and Necessity for the transmission line. Longview makes this notice even though a change in the ownership of Longview does not require notice to the Commission under either the certificate of site approval statute or regulations. The PSC’s regulations, as quoted below, require notice to the Commission only if the Siting Certificate itself is transferred or assigned to a new owner. In the case of the transmission line certificate of convenience and necessity, Commission approval is required only when a public utility holds the certificate, and Longview is not a public utility.
1. Under the Exempt Wholesale Generator (EWG) Siting Regulations, 5 150-30-7.1, the Commission must be given thirty days’ notice of a transfer of ownership or assignment of an siting certificate:
[The owner or operator shall, at least 30 days prior to the closing date of such transfer or assignment, provide the Commission with notice of the identity of the transferee, the mailing address of the transferee, the name and mailing addresses of the management members or officers of the transferee and an affidavit of the transferee stating that the transferee agrees that it is bound by all terms and conditions of the Siting certificate for the 24-2-1 1 (c) facility.]
2. Under West Virginia Code (“WVC”) §24-2-12(g) a public utility must obtain advance approval from the Commission before a third party “acquires directly or indirectly a majority of the common stock of any public utility organized and doing business in this state.”
3. The Commission has specifically held that Longview, like other EWG facilities, is not a public utility. Longview Power, LLC, Case No. 03-1 860-E-CS, Order entered August 27, 2004, (“[T]he Commission recognizes that an exempt wholesale generator is not a regulated public utility., .”), p. 117.
4. The Commission has specifically held that the “enactment of W.Va. Code $24-2-1 IC, clarified that the requirements of W.Va. Code §24-2-12(g) do not apply when an EWG decides to sell or otherwise transfer a siting certificate issued by the Commission.” [Nedpower Mount Storm, LLC and Shell Windenergy, Inc., Case No. 05-1486-E-PC, Conclusion of Law, No. 1, Order entered December 14,2005, p. 10. ]
5. Though the Siting Certificate and the Certificate of Convenience and Necessity are not being transferred or assigned, Longview has elected to provide this notice to the Commission of the transfer of ownership.
6. On October 12, 2006, GenPower, LLC transferred ninety percent (90%) of its membership interest in Longview to GenPower Holdings, L.P., a Cayman Islands Limited Partnership: On that date the ownership of Longview became:
90% Ownership - GenPower Holdings, L.P. 10% Ownership - GenPower, LLC.
7. The mailing address of GenPower, LLC is 1040 Great Plain Avenue, Needham, MA 02492.
8. The names and addresses of the managing members of GenPower, LLC are as follows:
Robert D. S. Place, Chairman and Managing Director, 1040 Great Plain Avenue, Needham, MA 02492.
John A. O’Leary-Vice Chairman and Managing Director, 1040 Great Plain Avenue, Needham, MA 02492.
9. The mailing address of GenPower Holdings, L.P., is 1 Lafayette Place, Greenwich, CT 06830.
10. The directors of GenPower Holdings, L.P. are as follows:
Anne E. Gold, 1 Lafayette Place, Greenwich, CT 06830
Mark McComiskey, 1 Lafayette Place, Greenwich, CT 06830
11. Longview acknowledges that it remains obligated and bound by all terms and conditions of the Siting Certificate and Certificate of Convenience and Necessity issued by the Commission in the above-referenced cases and will ensure that the terms and conditions of the Siting Certificate and Certificate of Convenience and Necessity are met.
12. Longview will continue to be responsible for compliance and reporting on the same to the Commission. Longview will continue to honor all agreements entered into with third parties relating to the construction and operation of the EWG facility and transmission line. LONGVIEW POWER, LLC
By Counsel
Lynn C. Photiadis, Esquire (SB #284) Bowles Rice McDavid Graff & Love LLP 600 Quarrier Street, Post Office Box 1386 Charleston, West Virginia 25325-1386 Counsel for Longview Power, LLC
According to the June 26 PSC Order granting the Siting Certificate, Longview cannot start construction until at least 120 days after they have supplied the PSC with "detailed blueprints for the EWG project". Since today is Oct. 20, it seems unlikely they could begin construction before mid February. Thus the newspaper's claim that they would begin construction in January is clearly false. But they do seem to be hurrying to comply with the PSC's pre-construction requirements.
They must also:
"1.g. At least 90 days prior to commencing construction, for the sole purpose of demonstrating the financial viability of the Project, Longview has made an informational filing with the Commission which provides the following information to the Commission under seal and subject to Confidentiality and Protective Orders: (1) Confidential Information Memorandum prepared by Longview for the purposes of raising debt financing; (2) A revised Pro Forma Cash.Flow similar in layout to that provided by Longview under seal to Staff and the Commission on February 9,2006; (3) Detailed information regarding the sources and amounts of committed financing for the project;"
Since this financial info is to be confidential, it seems unlikely that we could get it released, unless we win the Supreme Court case next week.
JBK
Duane330@aol.com 10/17/06 1:10 PM >>>
THE PROPOSED LONGVIEW POWER PLANT
On October 12th, 90% Ownership of Longview, LLC was assigned to GenPower Holdings, L.P., a Cayman Islands Limited Partnership, according to documents filed with the WV Public Service Commission.
See below.
[Note: The announcement that Longview has acquired $1.8 billion in financing is incomplete without a full disclosure of all the conditions and stipulations attached thereto. It would be in the public interest for these conditions to be known, as they are relevant to the public understanding of this proposed power plant project.
We do know that the Siting and Transmission Certificates are under appeal to the WV Supreme Court of Appeals, the preliminary hearing being scheduled for October 24th at 10 a.m. in Charleston. We also know that the Storm Water permits for construction and for operation have not been granted, as is the case for a few other permits.]
Duane Nichols, Convenor, MVCAC.
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NOTICE OF TRANSFER OF OWNERSHIP OF LONGVIEW POWER, LLC
Comes Longview Power, LLC (“Longview”) by counsel, and provides notice to the Public Service Commission (“PSC” or “Commission”) that the ownership of Longview Power, LLC has been transferred in part to a third party. Longview will retain both the Siting Certificate for the facility and the Certificate of Convenience and Necessity for the transmission line. Longview makes this notice even though a change in the ownership of Longview does not require notice to the Commission under either the certificate of site approval statute or regulations. The PSC’s regulations, as quoted below, require notice to the Commission only if the Siting Certificate itself is transferred or assigned to a new owner. In the case of the transmission line certificate of convenience and necessity, Commission approval is required only when a public utility holds the certificate, and Longview is not a public utility.
1. Under the Exempt Wholesale Generator (EWG) Siting Regulations, 5 150-30-7.1, the Commission must be given thirty days’ notice of a transfer of ownership or assignment of an siting certificate:
[The owner or operator shall, at least 30 days prior to the closing date of such transfer or assignment, provide the Commission with notice of the identity of the transferee, the mailing address of the transferee, the name and mailing addresses of the management members or officers of the transferee and an affidavit of the transferee stating that the transferee agrees that it is bound by all terms and conditions of the Siting certificate for the 24-2-1 1 (c) facility.]
2. Under West Virginia Code (“WVC”) §24-2-12(g) a public utility must obtain advance approval from the Commission before a third party “acquires directly or indirectly a majority of the common stock of any public utility organized and doing business in this state.”
3. The Commission has specifically held that Longview, like other EWG facilities, is not a public utility. Longview Power, LLC, Case No. 03-1 860-E-CS, Order entered August 27, 2004, (“[T]he Commission recognizes that an exempt wholesale generator is not a regulated public utility., .”), p. 117.
4. The Commission has specifically held that the “enactment of W.Va. Code $24-2-1 IC, clarified that the requirements of W.Va. Code §24-2-12(g) do not apply when an EWG decides to sell or otherwise transfer a siting certificate issued by the Commission.” [Nedpower Mount Storm, LLC and Shell Windenergy, Inc., Case No. 05-1486-E-PC, Conclusion of Law, No. 1, Order entered December 14,2005, p. 10. ]
5. Though the Siting Certificate and the Certificate of Convenience and Necessity are not being transferred or assigned, Longview has elected to provide this notice to the Commission of the transfer of ownership.
6. On October 12, 2006, GenPower, LLC transferred ninety percent (90%) of its membership interest in Longview to GenPower Holdings, L.P., a Cayman Islands Limited Partnership: On that date the ownership of Longview became:
90% Ownership - GenPower Holdings, L.P. 10% Ownership - GenPower, LLC.
7. The mailing address of GenPower, LLC is 1040 Great Plain Avenue, Needham, MA 02492.
8. The names and addresses of the managing members of GenPower, LLC are as follows:
Robert D. S. Place, Chairman and Managing Director, 1040 Great Plain Avenue, Needham, MA 02492.
John A. O’Leary-Vice Chairman and Managing Director, 1040 Great Plain Avenue, Needham, MA 02492.
9. The mailing address of GenPower Holdings, L.P., is 1 Lafayette Place, Greenwich, CT 06830.
10. The directors of GenPower Holdings, L.P. are as follows:
Anne E. Gold, 1 Lafayette Place, Greenwich, CT 06830
Mark McComiskey, 1 Lafayette Place, Greenwich, CT 06830
11. Longview acknowledges that it remains obligated and bound by all terms and conditions of the Siting Certificate and Certificate of Convenience and Necessity issued by the Commission in the above-referenced cases and will ensure that the terms and conditions of the Siting Certificate and Certificate of Convenience and Necessity are met.
12. Longview will continue to be responsible for compliance and reporting on the same to the Commission. Longview will continue to honor all agreements entered into with third parties relating to the construction and operation of the EWG facility and transmission line. LONGVIEW POWER, LLC
By Counsel
Lynn C. Photiadis, Esquire (SB #284) Bowles Rice McDavid Graff & Love LLP 600 Quarrier Street, Post Office Box 1386 Charleston, West Virginia 25325-1386 Counsel for Longview Power, LLC
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James Kotcon