65- 407 C.M.R. ch. 820, § 3

Current through 2024-25, June 19, 2024

Section 407-820-3 - SEPARATE CORPORATE ENTITY FOR NONCORE UTILITY SERVICES

A. Limitation. A utility may not offer core and non-core services through the same corporate entity. A utility must establish a separate corporate entity to offer non-core services.

B. Establishment of Separate Corporate Entity. When a utility establishes a separate corporate entity through which to provide non-core services, the establishment of that entity is subject to the reorganization requirements in 35-A M.R.S.A. §708.

C. Use of Existing Affiliate. A utility may undertake non-core utility activities in an existing affiliated interest, upon complying with the notice requirements in Section 7 below. A utility must obtain Commission approval pursuant to 35-A M.R.S.A. §707 for any new arrangement or contract between the existing subsidiary and core utility arising from the non-core activity.

D. Transactions Between a Utility and Its Affiliate(s). A utility must seek Commission approval for all transactions between the utility and its affiliate or affiliates pursuant to 35-A M.R.S.A. §707 and section 4 of this rule.

65- 407 C.M.R. ch. 820, § 3