Monongahela Power Co/OH – ‘POS AMC’ on 5/25/94 – EX-99

As of:  Wednesday, 5/25/94   ·   Accession #:  67646-94-35   ·   File #:  70-08259

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Post-Effective Amendment to a U-1   —   Form U-1
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: POS AMC     Post-Effective Amendment to a U-1                      2      7K 
 2: EX-99       Miscellaneous Exhibit                                  3     13K 
 3: EX-99       Miscellaneous Exhibit                                  3     11K 
 4: EX-99       Miscellaneous Exhibit                                  2      8K 

EX-99   —   Miscellaneous Exhibit

EX-99
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                                                   Exhibit D-7

BEFORE THE PUBLIC UTILITIES COMMISSION OF OHIO  

In the Matter of the Application of       )                                     
MONONGAHELA POWER COMPANY for the         )                                     
Consent and Approval to Enter into a      )                                     
Multi-Year Credit Agreement and to        )                                     
Issue Evidences of Indebtedness           )                                     
Thereunder to Provide a Readily           )     Case No. 93-1845-EL-AIS         
Available Source of Funds to Ensure       )                                     
the Completion of Facilities Required     )                                     
by the Clean Air Act Amendments of        )                                     
1990 and for Other General Corporate      )                                     
Purposes.                                 )                                     

FINDING AND ORDER 

The Commission finds:                                               

     (1)   Applicant, Monongahela Power Company, is a wholly owned
         subsidiary of Allegheny Power System Inc. ("Allegheny
                System"), is an an Ohio Corporation, and a public utility as
               defined in Section 4905.02, Revised Code, and is subject to
the jurisdiction of this Commission.        

       (2)   This Application complies with the provisions of Sections
4905.40 and 4905.41, Revised Code.          

         (3)   Applicant proposes to enter into the Multi-Year Competitive
        Advance and Revolving Credit Facility Agreement (the
            "Agreement"), with The Chemical Bank and The Bank of New
                York, New York.  Under the terms of the Agreement, Applicant
              along with the Potomac Edison Company (the "Potomac"), and
             the West Penn Power Company (the "West Penn"), the wholly
                owned subsidiaries (the "Subsidiaries") of Allegheny System,
                will have the ability to borrow from the Banks, on a standby
               revolving credit basis, from time to time, through December
              31, 1998, an amount not to exceed $300 million outstanding
                at any one time, all pursuant to the terms and conditions as
               set forth in the Application and Exhibits.  Under the terms
               of the Agreement, Applicant will have the ability to borrow
up to $81 million.                          

  (4)   The proceeds from the Agreement will be used for the
              completion of Applicant's facilities required by the Clean
              Air Act Amendments of 1990 and for other general corporate
purposes.                                   

    (5)   The Agreement will permit Applicant to have in place a
     readily available source of funds to complete its
                construction program.  The Agreement is flexible and will be
             used as a backup to the regular public financing and as a
        supplement to Applicant's short-term financing.  The
              borrowings by Applicant and the Subsidiaries may be either

EX-99
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           standby loans or competitive loans, as described in the
Application and Exhibits.                   

         (6)   Under the terms of the Agreement, Applicant, along with the
               Subsidiaries, are required to grant and maintain a security
           interest in the outstanding stock of their wholly-owned
          subsidiary, Allegheny Generating Company ("AGC").  The
               security interest in the pledged securities will secure the
     performance and/or payment of Applicant's and the
               Subsidiaries' obligations under the Agreement, as described
in the Application and Exhibits.            

    (7)   The proposed guidelines or parameters set forth in the
               Application and the Exhibits are intended to facilitate the
           consummation of the Agreement on the best terms and the
               lowest cost.  The authorization to enter into the Agreement
              within the guidelines set forth in the Application and the
               Exhibits in no way relieves the Applicant of its obligation
     to negotiate and obtain the best terms available.

          (8)   The maximum amount of the borrowings is just and reasonable,
          and the probable cost, price to the Applicant, and the
                respective terms do not appear to be unjust or unreasonable.

      (9)   The effect on Applicant's revenue requirements resulting
           from the borrowings can be determined only in rate case
              proceedings in which all factors affecting rates are taken
into account according to law.              

       (10)  Based on the information contained in the Application and
          Exhibits thereto, the proposed Agreement appears to be
          reasonably required for the Applicant's lawful capital
             purposes and the Commission is satisfied that the consent
and authority should be granted.            

It is, therefore,                                                   

ORDERED, That the Applicant is authorized to enter into a Multi-Year
Advance and Revolving Credit Facility Agreement, along with other subsidiaries  
of Allegheny System, with The Chemical Bank and The Bank of New York, New       
York, to borrow on a standby revolving credit basis, from time to time,         
through December 31, 1998, an amount not to exceed $81 million, outstanding at  
any one time, all pursuant to the terms and conditions as set forth in the      
Application and Exhibits.  It is, further,                                      

ORDERED, That the proceeds from the Agreement shall be used for the 
purposes set forth in this Order and otherwise pursuant to the provisions of    
Section 4905.40, Revised Code.  It is, further,                                 

EX-99
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ORDERED, That after any amount authorized by this Order is borrowed,
Applicant shall report to this Commission the terms and full particulars        
regarding such borrowings.  It is, further,                                     

    ORDERED, That Applicant shall account for the amounts borrowed under the
Agreement as prescribed by the Federal Energy and Regulatory Commission         
Uniform System of Accounts as currently in effect.  It is, further,             

ORDERED, That nothing in this Order shall be construed to imply any 
guaranty or obligation as to the Agreement, or the associated interest          
thereon, on the part of the State of Ohio.  It is, further,                     

ORDERED, That nothing in this Order shall be construed to imply any 
guaranty, or obligation by the Commission to assure completion of any specific  
projects of the Applicant.  It is, further,                                     

  ORDERED, That nothing in this Order shall be deemed to be binding upon
this Commission in any future proceedings or investigation involving the        
justness or reasonableness of any rate, charge, rule or regulation.  It is,     
further,                                                                        

    ORDERED, That a copy of this Order be served upon all parties of record.

THE PUBLIC UTILITIES COMMISSION OF OHIO 

CRAIG A. GLAZER 
Craig A. Glazer, Chairman 

J. MICHAEL BIDDISON                             JOLYNN BARRY BUTLER 
J. Michael Biddison                             Jolynn Barry Butler 

RICHARD M. FANELLY                              DAVID W. JOHNSON    
Richard M. Fanelly                              David W. Johnson    

AKA:jr                                                                          

                                Entered in the journal

                     DEC 23 1993
                     A True Copy

                          GARY E. VIGORITO
                          Gary E. Vigorito
                   Secretary

Dates Referenced Herein   and   Documents Incorporated by Reference

				Referenced-On Page
This ‘POS AMC’ Filing		Date		First		Last			Other Filings
		12/31/98		1		2			10-K405
Filed on:		5/25/94
									List all Filings