Public utility holding company act of 1935 pdf files

Implementation of section 34a1 of the public utility holding company act of 1935, as added by. Public utility holding company act of 1935 as amended. The public utility holding company act of 1935 defines specifically what a public utility holding company is. Significance of the public utility holding company act of. Federal energy regulatory commission 18 cfr parts 365 and 366 docket no. C a public utility holding company registered under the public utility holding company act of 1935 or a subsidiary of such a registered holding company within the meaning of that act. The enactment of the public utility holding company act of 1935 49 stat.

The public utility holding company act of 1935 puhca, also known as the wheelerrayburn act, was a us federal law giving the securities and exchange commission authority to regulate, license, and break up electric utility holding companies. Be it enacted by the senate and house of representatives of the united states of america in congress assembled, that this act may be cited as the public utility act of 1935. Filings under the public utility holding company act of. Public utility holding company act of 1935 public utility holding companies sec file no. Public utility holding company act of 1935 legislation in the united states limiting the. This is the talk page for discussing improvements to the public utility holding company act of 1935 article. Sec approval of the merger pursuant to the public utility holding company act of 1935, coneds chairman and chief executive of. Federal energy regulatory commission 888 first street, n. The public utility holding company act of 1935 puhca, 1 also known as the wheelerrayburn act, was a law that was passed by the united states congress to facilitate regulation of electric utilities, by either limiting their operations to a single state, and thus subjecting them to effective state regulation, or forcing divestitures so that each became a single integrated system serving a. Legislation in the united states limiting the activities of utility companies such as electric companies. The act was passed to effect a restructuring of the electric. This report provides background information on puhca, including its history and impact. The repeal of the public utility holding company act of 1935. Public utility holding company act of 1935 etc document types.

Any company which directly or indirectly owns, controls, or holds with power to vote, 10 per cen tum or more of the out standing voting securities of a public utility holding company or of a company which is a holding company by virtue of. Title i of the act is cited as the public utility holding company act of 1935 and is applicable, generally speaking, to holding companies in the electric and gas utility fields. Code part d repeal of public utility holding company. There are ten registered electric public utility holding companies, serving approximately 49 million households in 30 states. On december 8, 2005, the federal energy regulatory commission commission issued order no. Enron, an oregon corporation with headquarters at 1400 smith street, houston, texas 770027361, has filed two applications with the securities and exchange commission commission seeking orders exempting enron from all provisions of the public utility holding company act of 1935 the act except section 9a2. Public utility holding company act of 1935etc federal. Paul white, author of drawing straight with crooked lines.

Direct testimony and exhibits jeff berzina before the south. Technically, in repealing puhca 1935, congress in 1263 of epact 2005 substituted a new public utility holding company act of 2005 puhca 2005. Forms are filed electronically via edgar unless confidential treatment is. Federal legislation that regulates public utility holding companies by requiring that certain reports and major company decisions follow regulations handed down by the securities and exchange commission and the federal government. The sec is permitted to regulate all nonutility related business.

Public utility holding company act of 1935 legislation in the united states limiting the activities of utility companies such as electric companies. Direct testimony and exhibits jeff berzina before the. The public utility holding company act of 1935 puhca was passed during the great depression in response to the failure of a number ofutility holding companies and subsequent investor losses. In relevant part, it repeals the public utility holding company act of 1935 puhca 1935 \2\ and enacts the public utility holding company act of 2005 puhca 2005,\3\ which, with one exception not relevant here, will become effective six months from the date of enactment february 8, 2006. While this assertion is a matter of opinion and open to interpretation, it is a fact that this piece of new deal legislation presents an interesting case study in. Filings under the public utility holding company act of 1935. The reports must be filed by directors or officers of an issuer with a class of equity securities registered pursuant to section 12 of. Public utility holding company act limited businesses from making a monopoly because if a business has a monopoly, they can regulate the prices federal securities act. Search, browse and learn about the federal register. The public utility holding company act puhca of 1935 is the only law that prevents utility holding companies from subsidizing unregulated business activities from profits obtained from their regulated business activities and captive customers.

This comment recounts the historical events leading up to the passage of the public utility holding company act of 1935, as well as postenactment efforts to reform the legislation. Current registered holding companies under the public. Click here to start a new topic please sign and date your posts by typing four tildes new to wikipedia. See repeal of the public utility holding company act of 1935 and enactment of the public utility holding company act of 2005, order no. Specifically, the public utility holding company act requires utility companies to restrict their businesses to either a single state or to a small, manageable geographic area in order to be subject to. The committee also received special reports from the securities and exchange commission on its study of investment trusts and investment companies under section 30 of the public utility holding company act of 1935 76af11, 77af15. The public utility holding company act of 1935 puhca, which is administered by the securities and exchange commission sec, subjects public utility holding companies to federal.

Filing under the public utility holding company act of. Time to repeal the public utility holding company act. A holding company is one that owns stock in, and supervises management of, other companies. Repeal of the public utility holding company act of 1935. Public utility holding company act of 1935 references in brackets o. Filing under the public utility holding company act of 1935.

Public utility holding company act of 1935 financial. Specifically, the public utility holding company act requires utility companies to restrict their businesses to either a single state or to a small, manageable geographic area in order to be subject to state regulations. This is not a forum for general discussion of the articles subject. To provide for control and regulation of public utility holding companies, and for other purposes.

Different statutes have targeted different industry practices, all with the general goal of ensuring dependable utility services for the public at. Congress passed the public utility holding company act of 1935 puhca or the act to protect consumers and investors from abuses by holding companies with interests in gas and electric utilities. Public utility holding company act union of concerned. Ostrander t he public utility act of i935 is in effect two separate acts. Public utility holding company act of 1935 federal. It limited holding company operations to a single state, thus subjecting them to effective state regulation. It also broke up any holding companies with more than two tiers, forcing divestitures so that each became a single integrated system serving a limited geogr. Public utility holding company act of 1935 wikipedia. Public utility holding company act financial definition of. For related information on electricity restructuring, see the crs electronic briefing book. The public utility holding company act of 1935 was the result of what many american historians call the fiercest congressional battle in history.

Puhca requires that all side businesses be kept separate from the regulated business. Any company which directly or indirectly owns, controls, or holds with power to vote, 10 per cen tum or more of the out standing voting securities of a public utility holding company or of a company which is a holding company by. It also discusses how puhca reform fits into the current electric utility industry restructuring debate. The public utility holding company act was enacted in order to protect investors and consumers from the economic disadvantages produced by the small number of holding companies that owned most of the nations utilities.

Registered public utility holding companies are multistate utilities that are regulated by the sec under the public utility holding company act of 1935 puhca. Public utility holding company act of 1935 a law that was passed by the united states congress to facilitate regulation of electric utilities, by either limiting their operations to a single state, and thus subjecting them to effective state regulation, or forcing divestitures so that each became a single integrated system serving a limited. This study is concerned with the significance of the public utility holding company act of 1935 on the public utility holding companies which were operating in texas in 1935. Current registered holding companies under the public utility. Securities and exchange commission by filing a notification of registration on form u5a under section 5 of the public utility holding company act of 1935. What is public utility holding company act of 1935.

Public utilities legal definition of public utilities. The broad authority of the securities and exchange commission under puhca 1935 to regulate public utility holding companies is replaced. Implementation of section 34a1 of the public utility holding company act of 1935, as added by section 103 of the telecommunications act of 1996. While this assertion is a matter of opinion and open to interpretation, it is a fact that this piece of new deal legislation presents an interesting case study in human behavior. Repeal of public utility holding company act of 1935. This is not a forum for general discussion of the articles subject put new text under old text. Public utility company definition of public utility. Until the 1930s public utilities were subjected to minimal regulation. Code part d repeal of public utility holding company act of 1935. One of 18 the many requirements under puhca 1935 was to form a service company and to 19 transfer employees that perform common functions for black hills corporations. An act to provide for control and regulation of publicutility holding companies, and for other purposes be it enacted by the senate and house of representatives of the united states of america in congress assembled, that this act may be cited as the public utility act of 1935. The public utility holding company act of 1935, also known as the wheelerrayburn act, was a us federal law giving the securities and exchange commission authority to regulate, license, and break up electric utility holding companies.