-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, GFu1g21uZKtP6rdbAFqify0YHto5TZoodwwfZcVZ/EvM1Zx0KopKShdeS2AJMnnM faa0HAbm9K1N9UwI3tW3aA== 0000893220-00-001347.txt : 20001201 0000893220-00-001347.hdr.sgml : 20001201 ACCESSION NUMBER: 0000893220-00-001347 CONFORMED SUBMISSION TYPE: 35-CERT PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20001130 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CONECTIV CENTRAL INDEX KEY: 0001029590 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC & OTHER SERVICES COMBINED [4931] IRS NUMBER: 510377417 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 35-CERT SEC ACT: SEC FILE NUMBER: 070-09095 FILM NUMBER: 780664 BUSINESS ADDRESS: STREET 1: 800 KING ST STREET 2: P O BOX 231 CITY: WILMINGTON STATE: DE ZIP: 19899 BUSINESS PHONE: 3024293114 MAIL ADDRESS: STREET 1: 800 KING ST STREET 2: P O BOX 231 CITY: WILMINGTON STATE: DE ZIP: 19899 35-CERT 1 w43141ae35-cert.txt INTERIM CERTIFICATE OF NOTIFICATION 1 As Filed with the Securities and Exchange Commission on November 30, 2000 SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 - -------------------------- In the Matter of INTERIM CERTIFICATE Conectiv and Subsidiaries OF File No. 70-9095 NOTIFICATION (Public Utility Holding PURSUANT TO RULE 24 Company Act of 1935) - -------------------------- This Certificate of Notification is filed by Conectiv, a Delaware corporation, pursuant to Rule 24 (17 C.F.R. Section 250.24). Such filing is made in connection with Conectiv's Form U-1 Application-Declaration, as amended (the "Application-Declaration"), and authorized by the orders of the Securities and Exchange Commission (the "Commission") dated February 26, 1998, August 21, 1998, September 28, 1998, October 21, 1998, November 13, 1998, December 14, 1999 and August 17, 2000 (the "Orders") in the above-referenced file. The Orders directed that Conectiv file with the Commission quarterly certificates pursuant to Rule 24 within 60 days after each of the first three calendar quarters and within 90 days after the last calendar quarter. This certificate reports transactions from the period July 1, 2000 through September 30, 2000. Capitalized terms not otherwise defined herein have the meaning ascribed in the Application-Declaration. 1. Conectiv Common Stock issued during period (new issue shares only): None 2. Conectiv Common Stock issued pursuant to dividend reinvestment plans and Common Stock and options issued pursuant to benefit plans:
- ---------------------------------------------------------------------------------------------------------------------- Common Stock # 0f Shares Issued During Period Cumulative # 0f Shares Issued - ---------------------------------------------------------------------------------------------------------------------- Dividend Reinvestment 0 0 - ---------------------------------------------------------------------------------------------------------------------- Employee Benefit Plans 0 3,600 - ----------------------------------------------------------------------------------------------------------------------
During the period there were no stock options and no shares of restricted stock issued under the Conectiv Incentive Compensation Plan. There was no distribution of Conectiv shares during the period under the Conectiv Incentive Compensation Plan. There were no stock options exercised under the Delmarva Long-Term Incentive Plan during the quarter and no shares of Common Stock were issued. To date, awards under the employee benefit plans include 2,251,000 common stock options and 211,200 shares of restricted stock. Note: Cumulative shares issued for dividend reinvestment plans cannot exceed 5 million shares; cumulative shares issued for employee benefit plans cannot exceed 5 million shares. 3. Conectiv Common Stock issued for acquisitions:
- ---------------------------------------------------------------------------------------------------------------------- # 0f Shares Issued During Period Value per Share Restricted (Y/N) - ---------------------------------------------------------------------------------------------------------------------- 0 N/A N/A - ----------------------------------------------------------------------------------------------------------------------
4. Conectiv Long-Term Debt issued during period: None Note: Aggregate long-term debt financing by Conectiv cannot exceed $250 million per Orders; an additional $750 million of long-term debt is subject to a reservation of jurisdiction. 2 5. Short-Term Debt issued by Conectiv and Delmarva Power & Light Company ("Delmarva") during period:
- ---------------------------------------------------------------------------------------------------------------------- Company Balance at Period-End Weighted Average Cost Highest Daily Balance - ---------------------------------------------------------------------------------------------------------------------- Conectiv $718,000,000 6.80% $769,678,000 - ---------------------------------------------------------------------------------------------------------------------- Delmarva 0 6.80% $ 16,800,000 - ----------------------------------------------------------------------------------------------------------------------
Note: The aggregate daily balance of Conectiv and Delmarva cannot exceed $1.3 billion per Orders; Delmarva's daily balance cannot exceed $275 million per order of the Virginia State Corporation Commission. 6. Interest rate risk management transactions during period by Conectiv and/or Utility Subsidiaries: No activity. 7. Utility Subsidiary financings during period: Delmarva: See Item 5 above. Note: Short-term and long-term financings by Atlantic City Electric Company ("ACE") are exempt pursuant to Rule 52; long-term financings by Delmarva are exempt pursuant to Rule 52. 8. Non-utility financing during period not exempt pursuant to Rule 52: None. 9. Guarantees issued by Conectiv and Non-utility Subsidiaries as of end of period:
- --------------------------------------------------------------------------------- Conectiv $181,887,423 - --------------------------------------------------------------------------------- Non-Utility Subsidiaries $ 8,840,000 - ---------------------------------------------------------------------------------
Note: Guarantees by Conectiv cannot exceed $350 million; guarantees by Non-Utility Subsidiaries cannot exceed $100 million. 10. Borrowings from System Money Pool during period: Pursuant to the Orders, the limit on borrowings by individual Non-Utility Subsidiaries was eliminated and are reported on Form U-6B-2 filed contemporaneously herewith. 11. Forms U-6B-2 filed with Commission during period:
- --------------------------------------------------------------------------------- Filing Entity Date of Filing - --------------------------------------------------------------------------------- Conectiv Resources Partners, Inc. November 30, 2000 - --------------------------------------------------------------------------------- Conectiv Communications, Inc. November 30, 2000 - --------------------------------------------------------------------------------- Conectiv Plumbing LLC November 30, 2000 - --------------------------------------------------------------------------------- Conectiv Solutions, LLC November 30, 2000 - --------------------------------------------------------------------------------- Atlantic Southern Properties, Inc. November 30, 2000 - --------------------------------------------------------------------------------- Conectiv Energy, Inc. November 30, 2000 - --------------------------------------------------------------------------------- Delmarva Capital Investments November 30, 2000 - ---------------------------------------------------------------------------------
12. Financial Statements: - - Conectiv Balance Sheet (Incorporated by reference to the filing of Conectiv on Form 10-Q for the period ended September 30, 2000) - - Delmarva Balance Sheet (Incorporated by reference to the filing of Delmarva on Form 10-Q for the period ended September 30, 2000) 13. Registration Statements filed pursuant to the Securities Act of 1933: None 3 14. Computation under Rule 53(a):
---------------------------------------------------------------------------------------------------------------- ($ THOUSANDS) 1 2 3 4 5 6 7 - ---------------------------------------------------------------------------------------------------------------------------------- Average Average 10% Test 2% of Capital Maximum EWG Aggregate Remaining Retained Retained Invested in Investments EWG Capacity for Earnings Earnings Utility Plant per Orders Investments EWG (Last Four (Previous (Use only if 1 Investments Quarters) Four is 10% less than Quarters) 2) - ---------------------------------------------------------------------------------------------------------------------------------- 9/30/00 (14,989) (20,201) 26% N/A 350,000 79,000 271,000 - ----------------------------------------------------------------------------------------------------------------------------------
15. Conectiv Investment in EWG Projects: Conectiv's investments in EWGs as of September 30, 2000 included $66 million in Conectiv Energy, Inc. and $13 million in Conectiv Mid-Merit, Inc. 16. Conectiv's Consolidated Capitalization Ratios: ($ thousands)
- --------------------------------------------------------------------------------- Debt 3,005,736 67.59% - --------------------------------------------------------------------------------- Preferred Stock 284,883 6.41% - --------------------------------------------------------------------------------- Common Equity 1,156,449 26.00% - --------------------------------------------------------------------------------- Total Capitalization 4,447,069 100.00% - ---------------------------------------------------------------------------------
17. Market/Book Ratio of Conectiv Common Stock:
- ---------------------------------------------------------------------------------------------------------------------- Closing Price @ 9/30/00 Book Value @ 9/30/00 Ratio - ---------------------------------------------------------------------------------------------------------------------- Conectiv Common Stock $17.8945 $13.05 1.37 - ---------------------------------------------------------------------------------------------------------------------- Conectiv Class A Common Stock $17.75 $13.05 1.36 - ----------------------------------------------------------------------------------------------------------------------
18. New EWG Projects during Preceding Quarter: Conectiv's investments in Conectiv Energy, Inc. and Conectiv Mid-Merit, Inc. considered new EWG projects since this is the first time Conectiv has been required to disclose this information in this file. 19. Consolidated and EWG Earnings Growth: There currently are no operating EWG projects 20. EWG Revenue and Net Income: There currently are no operating EWG projects. 4 SIGNATURE Pursuant to the requirements of the Public Utility Holding Company Act of 1935, the undersigned companies have duly caused this Certificate of Notification to be signed on their behalf by the undersigned thereunto duly authorized. The signatures of the applicants and of the persons signing on their behalf are restricted to the information contained in this application which is pertinent to the application of the respective companies. Conectiv Delmarva Power & Light Company Conectiv Resource Partners, Inc. Conectiv Energy Supply, Inc. Conectiv Energy, Inc. Delmarva Capital Investments, Inc. Conectiv Services, Inc. DCI I, Inc. DCI II, Inc. DCTC-Burney, Inc. Conectiv Operating Services Company Conectiv Solutions, LLC Conectiv Plumbing, LLC Atlantic City Electric Company Atlantic Generation, Inc. Atlantic Southern Properties, Inc. ATE Investment, Inc. Conectiv Thermal Systems, Inc. Binghamton General, Inc. Binghamton Limited, Inc. Pedrick General, Inc. Vineland Limited, Inc. Vineland General, Inc. ATS Operating Services, Inc. King Street Assurance, Ltd. November 30, 2000 /s/ Philip S. Reese ----------------------------------- Philip S. Reese Vice President and Treasurer -----END PRIVACY-ENHANCED MESSAGE-----