Order UE92-14 - UE21308 - Maritime Electric - Consumer and Employee Share Purchase Plan (Nov 30, 1992)

Docket UE21308
Order UE92-14

IN THE MATTER of an application by Maritime Electric Company, Limited for a variance to Commission Order UE92-2.

BEFORE THE COMMISSION

on Monday, the 30th day of November, 1992.

Linda Webber, Chairman
John L. Blakney, Vice-Chairman

Order

UPON the application of Maritime Electric Company, Limited (the "Company") for an amendment to Commission Order UE92-2 to permit an additional allotment of 9,000 Common Shares under the Company's Consumer Share Purchase Plan;

AND UPON it appearing to the Commission that the additional allotment is necessary to allow the Company to meet the forecast demand for common shares under the said Plan in the Company's December, 1992 subscription period;

NOW THEREFORE, pursuant to the Island Regulatory and Appeals Commission Act and the Electric Power and Telephone Act;

IT IS ORDERED THAT

1. Paragraph 1 of Commission Order No. UE92-2 is revoked and the following substituted therefor:

1. Approval is granted to the Company for an additional allotment, in the reduced amount, of:

39,000 common shares under the Consumer Share Purchase Plan; and

15,000 common shares under the Employee Share Purchase Plan.

DATED at Charlottetown, Prince Edward Island, this 30th day of November, 1992.

BY THE COMMISSION:

Linda Webber, Chairman

John L. Blakney, Vice-Chairman