-----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, A9g6f0+QKyWIXUP9kByHX8Idp13CCqOc097++WWqkfeeS5cMxbk6fkFHW5l+XqPZ i7XgS2maBNkdUEVevFXogg== 0000893220-98-001034.txt : 19980529 0000893220-98-001034.hdr.sgml : 19980529 ACCESSION NUMBER: 0000893220-98-001034 CONFORMED SUBMISSION TYPE: 35-CERT PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19980528 SROS: NONE FILER: COMPANY DATA: COMPANY CONFORMED NAME: CONECTIV INC 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: 98632937 BUSINESS ADDRESS: STREET 1: 800 KING STREET P O BOX 231 CITY: WILMINGTON STATE: DE ZIP: 19801 BUSINESS PHONE: 3024293448 MAIL ADDRESS: STREET 1: 800 KING ST STREET 2: P O BOX 231 CITY: WILMINGTON STATE: DE ZIP: 19801 35-CERT 1 CONECTIV INC. RULE 24 (35-CERT) 1 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 Company Act of 1935) PURSUANT TO RULE 24 - ------------------------------------- This Certificate of Notification is filed by Conectiv, a Delaware corporation, pursuant to Rule 24 (18 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 order (the "Order") of the Securities and Exchange Commission (the "Commission") dated February 26,1998, in the above- referenced file. The Order 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 March 1, 1998 through March 31, 1998. 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 0
Awards under the Conectiv Incentive Compensation Plan during the period included 1,030,800 stock options and 50,200 shares of restricted stock. The strike price for such awards was $22.84375 per share. There was no distribution of Conectiv shares during the period under the Conectiv Incentive Compensation Plan. 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: Note: The Commission has reserved jurisdiction over the issuance of long-term debt by Conectiv. 2 5. Short-Term Debt issued by Conectiv and Delmarva during period:
Balance at Period-End Weighted Average Cost Highest Daily Balance --------------------- --------------------- --------------------- Conectiv $165,000,000 5.998% $165,000,000 Delmarva 2,300,000 5.639% 29,600,000
Note: Conectiv's daily balance cannot exceed $500 million; Delmarva's daily balance cannot exceed $275 million. 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 Electric 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 by Conectiv and Non-utility Subsidiaries during period:
ISSUER OF GUARANTEE ISSUED ON BEHALF OF AMOUNT TYPE OF GUARANTEE ------------------- ------------------- ------ ----------------- Conectiv Atlantic Generation $6,000,000 Guarantee Conectiv Conectiv Thermal 31,000,000 Guarantee Conectiv Atlantic Generation 5,250,000 Letter of Credit Conectiv Conectiv Thermal 27,918,656 Letters of Credit Conectiv Enerval 1,600,000 Letter of Credit --------- $71,768,656 Atlantic Enterprises Enerval $2,250,000 Guarantee Atlantic Generation Cogeneration Partners of America 2,000,000 Guarantee Atlantic Generation Vineland Cogeneration 1,374,000 Take or Pays Atlantic Generation Binghamton Cogeneration 271,000 Escrow Atlantic Generation Vineland Cogeneration 3,500,000 Capacity deficiency charge Atlantic Generation Enerval 1,200,000 Pledge of assets --------- $10,595,000
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: Borrowings by individual Non-Utility Subsidiaries did not exceed $25 million at any point during the period and are reported on Form U-6B-2 filed contemporaneously herewith. Delmarva did not participate in the Money Pool during this period. Jurisdiction was reserved over such participation pending completion of the record. 3 11. Forms U-6B-2 filed with Commission during period:
Filing Entity Date of Filing - ------------- -------------- ATE Investment May 28, 1998 Atlantic City Electric Company May 28, 1998 Atlantic Energy Enterprises, Inc. May 28, 1998 Atlantic Thermal Systems, Inc. May 28, 1998 Conectiv Resource Partners, Inc. May 28, 1998 Conectiv Services, Inc. May 28, 1998 Delmarva Capital Investments, Inc. May 28, 1998 Enerval, LLC May 28, 1998
12. Financial Statements - Conectiv Balance Sheet (Incorporated by reference to the filing of Conectiv on Form 10-Q for the period ended March 31, 1998) - Delmarva Balance Sheet (Incorporated by reference to the filing of Delmarva on Form 10-Q for the period ended March 31, 1998) 13. Registration Statements filed pursuant to the Securities Act of 1933: Registration Statement on Form S-3 for ConectivDirect (Incorporated by reference to the filing on January 13, 1998, as amended (File No. 333-44219)). ConectivDirect is Conectiv's dividend reinvestment and stock purchase plan. Registration Statement on Form S-8 for the Conectiv Incentive Compensation Plan (incorporated by reference to the filing on April 14, 1998 (File No. 333-50063)). 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 ENERGY SUPPLY COMPANY DELMARVA CAPITAL INVESTMENTS, INC. CONECTIV SERVICES, INC. DCI I, INC. DCI II, INC. DCTC-BURNEY, INC. CHRISTIANA CAPITAL MANAGEMENT, INC. DELMARVA OPERATING SERVICES COMPANY POWER CONSULTING GROUP, INC. CONECTIV SOLUTIONS, LLC CONECTIV PLUMBING, LLC ATLANTIC CITY ELECTRIC COMPANY ATLANTIC ENERGY ENTERPRISES, INC. ATLANTIC ENERGY INTERNATIONAL, INC. ATLANTIC GENERATION, INC. ATLANTIC SOUTHERN PROPERTIES, INC. ATE INVESTMENT, INC. CONECTIV THERMAL SYSTEMS, INC. COASTAL COMM, INC. ATLANTIC ENERGY TECHNOLOGY, INC. BINGHAMTON GENERAL, INC. BINGHAMTON LIMITED, INC. PEDRICK LIMITED, INC. PEDRICK GENERAL, INC. VINELAND LIMITED, INC. VINELAND GENERAL, INC. ATLANTIC JERSEY THERMAL SYSTEMS, INC. ATS OPERATING SERVICES, INC. THE EARTH EXCHANGE, INC. ATLANTIC PAXTON COGENERATION, INC. PETRON OIL CORPORATION May 28, 1998 /s/ L. M. Walters ----------------- L. M. Walters Treasurer -----END PRIVACY-ENHANCED MESSAGE-----