N.J. Admin. Code § 14:4-4.3

Current through Register Vol. 56, No. 19, October 7, 2024

Section 14:4-4.3 - Asset investments

(a) Each electric or gas public utility and its public utility holding company shall ensure that the aggregate investment in all nonutility associates in the public utility holding company system does not exceed 25 percent of the aggregate assets of all public utilities and utility associates in the public utility holding company system.

(b) The Board may adjust the percentage level in (a) above up to an additional 10 percentage points higher, not to exceed 35 percent, upon petition by an electric or gas public utility. The Board shall consider any petitions filed pursuant to this provision on a case-by-case basis. Any adjustment to the percentage level must not compromise safe, adequate and proper service.

(c) Each electric or gas public utility or its public utility holding company shall file all of the following in their annual report with the Board:

1. A listing of names and classification (that is, utility associate or nonutility associate) for each subsidiary in the public utility holding company system;

2. The aggregate investment as a percentage of total assets of all public utilities and utility associates in the public utility holding company system;

3. An annual certification as authorized by the board of directors of the public utility holding company and electric or gas public utility, by the chief executive officer of the public utility holding company and electric or gas public utility, that the percentage of aggregate investments does not contravene this subchapter; and

4. All information required in the annual report pursuant to (c)1-3 above, shall be as of the end of the previous fiscal year.

N.J. Admin. Code § 14:4-4.3

Amended by R.2009 d.110, effective 4/6/2009.
See: 40 N.J.R. 1616(a), 41 N.J.R. 1500(a).
In (a), substituted "investment in" for "assets of" and "does" for "do"; in (c)1, substituted "classification (that is, utility associate or nonutility associate)" for "total assets"; in (c)2 substituted "aggregate investment" for "assets of all nonutility associates"; and rewrote (c)3.
Recodified from N.J.A.C. 14:4-4A.3 by R.2012 d.091, effective 5/7/2012.
See: 43 N.J.R. 1150(a), 44 N.J.R. 1534(a).