Federal Register / Vol. 66, No. 184 / Friday, September 21, 2001 / Notices 48723 Cleveland Electric Illuminating the distribution and transportation of Company (‘‘NEO Construction’’), a Company (‘‘Cleveland Electric’’), and natural gas. NONGC had total assets of wholly owned subsidiary of NOOCI (the The Toledo Edison Company (‘‘Toledo $18,374,761 and $25,319,652 as of ‘‘LDC Transaction’’). Upon the asset Edison’’), and indirectly owns all of the December 31, 2001, and June 30, 2001, transfer to NEO Construction, NEO issued and outstanding voting securities respectively. Construction became a gas utility of Pennsylvania Power Company (‘‘Penn Effective June 4, 1998, FirstEnergy company under the Act. On July 7, Power’’), and Northeast Ohio Natural acquired all of the outstanding shares of 2000, NEO Construction changed its Gas Corp. (‘‘NONGC’’). Ohio Edison, MARBEL (the ‘‘MARBEL Acquisition’’). name to ‘‘Northeast Ohio Natural Gas Cleveland Electric, Toledo Edison and The MARBEL Acquisition expanded Corp.’’ 4 On March 30, 2001, NOOCI was Penn Power, collectively comprise the FirstEnergy’s products and services to merged into its parent, MARBEL (the ‘‘FirstEnergy Operating Companies.’’ include the exploration, production, ‘‘MARBELL Merger’’). Consequently, the Ohio Edison directly owns 16.5% of the distribution, transmission, and assets of NOOCI, which include all of issued and ouststanding voting marketing of natural gas and oil. Prior the issued and outstanding stock of securities of Ohio Valley Electric to the closing of the MARBEL NONGC, are now owned by MARBEL. Corporation (‘‘OVEC’’), and OVEC owns Acquisition, an internal reorganization In this application, Applicant requests all of the issued and outstanding voting took place within the MARBEL system, that the Commission authorize the securities of Indiana-Kentucky Electric as a result of which NONGC—the only acquisition of all of the issued and Corporation (‘‘IKEC’’). The FirstEnergy company in the MARBEL system that outstanding voting securities of NONGC Operatomg Companies, ATSI, NONGC, was a public utility company under the by First Energy. NONGC is held OVEC, and IKEC, are all public utility Act—was merged into a sister company: indirectly by FirstEnergy through companies as defined in the Act. For the Gas Transport, Inc. (‘‘Gas Transport’’).2 MARBEL. twelve months ending December 31, On May 24, 2000, the assets of the For the Commission, by the Division of 2000, FirstEnergy had told revenue of local gas distribution division of Gas Investment Management, pursuant to $7,028,961,000 and net income of Transport (‘‘LDC’’) were transferred to delegated authority. $598,970,000. FirstEnergy had total the Northeast Ohio Operating Margaret H. McFarland, assets of $17,941,294,000, as of Companies, Inc. (‘‘NOOCI’’), an December 31, 2000. Deputy Secretary. affiliated nonutility which was the [FR Doc. 01–23616 Filed 9–20–01; 8:45 am] In addition to its public utility parent company of NONGC and several BILLING CODE 8010–01–M holdings, FirstEnergy owns directly and other operating companies. On May 25, indirectly multiple nonutility 2000, Gas Transport, which at the time subsidiaries. MARBEL Energy only owned and operated transmission Corporation (‘‘MARBEL’’), a direct SECURITIES AND EXCHANGE pipelines, merged into Great Lakes COMMISSION nonutility subsidiary of FirstEnergy, is Transport, LLC (‘‘GLGT’’), a wholly the parent company of NONGC, a owned subsidiary of NOOCI. On May [Release No. 34–44802, File Nos. SR-Amex natural gas pipeline company, and 30, 2000, all of the membership units of 2001–80; SR–Phlx–2001–86] Marbel Holdco, Inc. (‘‘Marbel Holdco’’). GLGT were transferred to Great Lakes. Self-Regulatory Organizations; Notice Marbel Holdco holds FirstEnergy’s 50% This post-clearing transfer of GLGT to of Filing and Order Granting ownership in Great Lakes Partners, LLC Great Lakes comprises the ‘‘Great Lakes (‘‘Great Lakes’’). Great Lakes is an oil Accelerated Approval to Proposed Transaction.’’ 3 The Great Lakes and gas exploration and production Rule Changes Filed by the American Transaction was part of a corporate company in a 50/50 joint venture with Stock Exchange LLC (‘‘Amex’’) and the reorganization and no intercompany Range Resources Corporation (‘‘Range Philadelphia Stock Exchange, Inc. consideration was paid. The LDC assets Resources’’), a publicly traded, (‘‘Phlx’’) Relating to Temporary were transferred at the book value nonutility oil and gas exploration and Trading of Amex Options on the Phlx assigned to these assets at the time of production company. Great Lakes holds To Respond to Market Developments the MARBEL Acquisition. a majority of its assets in the On July 1, 2000, NOOCI transferred Appalachian Basin. Those assets September 17, 2001. the assets of LDC to NEO Construction include more than 7,700 oil and natural Pursuant to section 19(b)(1) of the gas wells, drilling rights, proven Securities Exchange Act of 1934 2 Applicant maintains that as a result of the (‘‘Act’’) 1 and Rule 19b–4 thereunder, 2 resources of 450 billion cubic feet application of rule 7(a) under the Act, Gas equivalent of natural gas and oil, and Transport, as the time of the MARBEL Acquisition, notice is hereby given that on 5,000 miles of pipeline. Great Lakes also was not a gas utility company, and, therefore, the September 16, 2001, the American Stock owns intrastate gas pipelines and a MARBEL Acquisition did not require prior approval Exchange LLC (‘‘Amex’’) and the of the Commission under section (a) of the Act. Philadelphia Stock Exchange Inc. small interstate pipeline between Ohio 3 Applicants state that the Great Lakes and West Virginia. Transaction was part of a larger transaction that had (‘‘Phlx’’) (collectively referred to as NONGC provides gas distribution and occurred in 1999. Effective September 30, 1999, ‘‘Exchanges’’) submitted to the transportation service to approximately FirstEnergy and Range Resources formed Great Securities and Exchange Commission 5,000 customers located in ten counties Lakes, a 50/50 joint venture primarily designed to (‘‘SEC’’ or ‘‘Commission’’) proposed rule consolidate and integrate both companies’ gas and in central and northeast Ohio, and oil exploration operations in the Appalachian NONGC owns and operates Basin, including properties in Ohio, Pennsylvania, 4 NONGC has interconnections with and receives approximately 420 miles of distribution West Virginia, Kentucky, and Tennessee. The joint some gas from Ohio Interstate Gas Transmission and transportation pipeline. NONGC venture was created to reduce operating costs Company (‘‘OIGTC’’), a nonutility which is associated with exploration of reserves and regulated by Public Utilities Commission of Ohio receives its gas supplies from local gas servicing the oil and gas properties. Applicants and engages solely in the transportation of natural producers as well as from interstate state that the Great Lakes Transaction was gas. OIGTC was one of the companies contributed pipeline companies. For the twelve structured in the manner described above for tax by MARBEL to form Great Lakes on September 30, months ending December 31, 2000, reasons and in order to allow sufficient time to 1999. In addition, NONGC receives gas from direct secure approval from the FERC for the merger of interconnects with gathering pipelines owned by NONGC had total revenue of $6,074,120 Gas Transport into GLGT. Therefore, the utility Great Lakes. and net income of $112,985; operating operations of LDC remained within the FirstEnergy 1 15 U.S.C. 78s(b)(1). revenues were principally derived from system. 2 17 CFR 240.19b–4. VerDate 11<MAY>2000 17:57 Sep 20, 2001 Jkt 194001 PO 00000 Frm 00070 Fmt 4703 Sfmt 4703 E:\FR\FM\21SEN1.SGM pfrm01 PsN: 21SEN1 48724 Federal Register / Vol. 66, No. 184 / Friday, September 21, 2001 / Notices changes. The Amex and Phlx The proposal includes two categories facilities will be limited to the Phlx descriptions of their respective of Amex members trading as Phlx ROTs options trading floor crowds where they proposed rule changes are set forth in or specialists: Amex ROTs and Amex have been granted access to trade by this Items I and II below. The Commission specialists. The proposal may also proposal and any other areas designated is publishing this notice to solicit include enabling Amex floor brokers to by the Phlx. comments on the proposed rule changes act as Phlx floor in Phlx/Amex options With respect to qualification of and form interested persons and to grant and non-Phlx Amex options (but not jurisdiction over Amex TAPs, the Phlx accelerated approval to the proposed Phlx options not traded on Amex). The intends to require submission of a form rule changes. Phlx anticipates Phase 1 to begin on containing an acknowledgement to Monday, September 17, 2001, and Phase abide by Phlx rules and submit to Phlx I. Self-Regulatory Organization’s 2 thereafter, possibly on the same day.3 jurisdiction, as well as other provisions Statements of the Terms of Substance of In addition, only Amex TAPs will be relating to Phlx floor activity and the Proposed Rule Changes permitted to trade non-Phlx Amex responsibility. The Acknowledgement As a result of the attacks on the World options that trade on the Phlx under this may also include the Phlx’s ability to Trade Center in New York City on proposal, unless deemed necessary by terminate Amex TAPs access and status, September 11, 2001, the building the Phlx for Phlx members to act as or to impose conditions on such access housing the trading facilities of the ROTs or floor brokers, in the interest of or status. Amex suffered physical damage. In fair and orderly markets. However, Phlx Further, this form will contain a addition, the area surrounding the specialist units may be allocated non- certification by both the Amex TAP and Amex has remained largely inaccessible Phlx Amex options if the current Amex the Amex as to the qualification of that to all but the most essential emergency specialist is not affiliated with a Phlx Amex member to trade on the Amex.