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Finding and Order ordered that within 10 days of the time any regulatory agency, including the SEC, the Federal Energy Regulatory Commission, and the State Commissions for each state in which the applicant and/or any of the participating companies do business, imposes any condition limiting the amount of short-term debt that may be loaned to any participating company in the Money Pool, applicant shall inform the Director of the Utilities Department of this Commission, so that this Commission may consider whether to impose a similar condition on the authority of applicant to loan funds to the Money Pool; that applicant's loans to the participating companies made through the Money Pool shall be made only to those participating companies that are parties to the Money Pool agreement, as originally approved by the SEC, and that have, or whose direct parent company has, an investment grade or higher credit rating on their senior secured or unsecured debt from at least one nationally recognized rating agency; that, in the event the credit rating of any participating company or its parent company in the case of unrated companies falls below investment grade, applicant shall inform the Director of the Utilities Department of this Commission in a timely manner; that applicant shall provide information to the Director of the Utilities Department of this Commission relating to the issuance of the notes and the details of its participation in the Money Pool arrangement on a quarterly basis; that applicant's short-term indebtedness, including participation in the Money Pool, shall be in compliance with applicant's electric transition plan as approved by this Commission; that authorization granted by this order shall not be construed as limiting the Commission's determination of the appropriateness of applicant's future long-term security offerings. |
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