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All electric and natural gas holding companies are required to register with the Securities and Exchange Commission (SEC). Larger image Photograph of the original Nictaux hydro-electric power plant, probably taken in 1940. The proposed purchase of Bangor Hydro is NS Power's first U. NS Power will not be allowed to generate electricity in Maine because of the state's electrical restructuring rules.

In addition, PUHCA requires that before purchasing securities or property from another company, a holding company must file for approval with the SEC. This plant was located at Nictaux Falls, about 4km south of Middleton, in Annapolis County. The merger follows a trend in the restructuring of state electricity markets.

NSL 1923 chapter 121 — Act respecting the Avon River Power Co. In 1921, the Avon River Power Company was incorporated by Roy Jodrey and Charles Wright. It was demolished in the early 1950s to make way for the construction of the new and larger hydro-electric power plant, also called Nictaux, that was built on this site by the Nova Scotia Light & Power Company, and put into service about 1956. Under government-mandated deregulation, companies that once made and delivered electricity were told to sell their generators but keep and maintain the transmission lines.

A regulatory bargain was created between utilities and the government. Briggs said no employees will lose their jobs at this time. Briggs and other corporate officers will continue to run Bangor Hydro, Mann said, and no decision has been made on whether their roles will be expanded within NS Power.

In exchange for an exclusive service territory, utilities are required to provide reliable electric service to all customers at a regulated rate. NS Power Holdings is based in Halifax, Nova Scotia.

A holding company under PUHCA is an enterprise that directly or indirectly owns 10% or more of stock in a public utility company. Its primary business is Nova Scotia Power, an integrated electricity generator and transmission and distribution company with more than 440,000 customers and $2,900,000,000 Canadian in assets.

To eliminate the complex and confusing structure of holding companies that had made them almost impossible to regulate, Section 11b of Title I (the "Death Sentence Clause") of PUHCA abolishes all holding companies that were more than twice removed from their operating subsidiaries. and thereafter operated it as a wholly-owned subsidiary. bought six small electric utilities: Centreville Electric Light & Power Company, Gaspereaux Valley Electric Light Company, Lower Horton Electric Company, Kingston Electric Light Commission, the Town of Middleton's electric power system, and Sheffield Mills Light & Power Company. bought the electric power distribution system owned and operated by the Canning Water Commissioners. Bangor Hydro has 192,000 customers and assets of $544,000,000 (about C$810,000,000). The company also has a financial interest in the Maritimes and Northeast natural gas pipeline which is being installed through Maine.

It asked two of the sharpest young businessmen around town to investigate the Gaspereau River as a power source. Wright, a capable and popular building contractor, and Roy A. Wright and Jodrey's hydroelectric generating plant at Stivers Falls, White Rock, Kings County, began to operate on February 25, 1920. Title I of the Public Utility Act of 1935 is known as the Public Utilities Holding Company Act of 1935 (PUHCA). Bangor Hydro now is required to purchase power from outside sources to provide electricity to standard-offer customers in its territory.