Section 15-3908. RING-FENCING

Latest version.

3908.1Any energy utility owned by a holding company that transfers more than five percent (5%) of the utility’s earnings to a holding company parent, or declares a special or regular cash dividend to the holding company parent, shall notify the Commission in writing within five (5) business days following such action.

3908.2 An energy utility shall issue debt securities and request that rating agencies maintain credit and bond ratings for those securities apart from the holding company or any affiliate. Nothing in this section shall prohibit an energy utility from issuing private debt securities without a rating, except to an affiliate.

authority

The Public Service Commission of the District of Columbia (Commission), pursuant to its authority under D.C. Code § 34-301 (2010 Supp.) and D.C. Code §§ 34-802 and 34-1513(c) (2001).

source

Notice of Final Rulemaking published at 58 DCR 1109, 1115 (February 4, 2011).

                    
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