FERC Questions Company About $750M Holding

Law360, New York (March 27, 2008, 12:00 AM EDT) -- The U.S. Federal Energy and Regulatory Commission has asked Horizon Asset Management Inc. to provide information about its acquisition of more than $750 million of Sierra Pacific Resources stock.

In a letter Tuesday, FERC's Office of Energy Market Regulation asked the New York-based company about its reported purchase of more than 10% of an interest in Nevada-based Sierra Pacific, which is a public utility holding company under the Public Utility Company Act of 2005.

Under that law and the Federal Power Act, the commission must authorize...
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