-----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, UO65qLbA6k9aGc6IkOrIDv0WPIhD7evXrxRP0iwgZgH0g/5vTbbq/p+4nAcgbA3L l93PfOHnXfOnqp68QWJEZQ== 0000018808-02-000009.txt : 20020524 0000018808-02-000009.hdr.sgml : 20020524 20020524114242 ACCESSION NUMBER: 0000018808-02-000009 CONFORMED SUBMISSION TYPE: U-3A-2/A PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20011231 FILED AS OF DATE: 20020524 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CENTRAL VERMONT PUBLIC SERVICE CORP CENTRAL INDEX KEY: 0000018808 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 030111290 STATE OF INCORPORATION: VT FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: U-3A-2/A SEC ACT: 1935 Act SEC FILE NUMBER: 069-00065 FILM NUMBER: 02661807 BUSINESS ADDRESS: STREET 1: 77 GROVE ST CITY: RUTLAND STATE: VT ZIP: 05701 BUSINESS PHONE: 802-773-2711 MAIL ADDRESS: STREET 1: 77 GROVE STREET CITY: RUTLAND STATE: VT ZIP: 05701 U-3A-2/A 1 fnlu3a2a.htm AMENDED FORM U-3A-2/A CENTRAL VERMONT PUBLIC SERVICE CORPORATION

Adopted November 9, 1939

File No. 69-65

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM U-3A-2/A

For the Year Ended December 31, 2001

STATEMENT BY HOLDING COMPANY CLAIMING EXEMPTION UNDER RULE U-3A-2
FROM THE PROVISIONS OF THE PUBLIC UTILITY HOLDING COMPANY ACT OF 1935

CENTRAL VERMONT PUBLIC SERVICE CORPORATION
(Name of Company)

hereby files with the Securities and Exchange Commission, pursuant to Rule 2, its statement claiming exemption as a holding company from the provisions of the Public Utility Holding Company Act of 1935, and submits the following information:

  1. Name, State of organization, location and nature of business of claimant and every subsidiary thereof, other than any exempt wholesale generator ("EWG") or foreign utility company in which claimant directly or indirectly holds an interest.
  2. CENTRAL VERMONT PUBLIC SERVICE CORPORATION

         Central Vermont Public Service Corporation ("CVPS"), incorporated under the laws of the State of Vermont, has its principal executive office in Rutland, Vermont.

         The principal business of CVPS is the generation and purchase of electric energy and its transmission, distribution and sale for light, power, heat and other purposes to over 143,000 customers in Middlebury, Randolph, Rutland, Springfield, Windsor, Bradford, Bennington, Brattleboro, St. Johnsbury, St. Albans, Woodstock, Poultney, Manchester, and 163 other towns and villages in Vermont. CVPS also sells electric energy at wholesale in New Hampshire to its wholly-owned subsidiary, Connecticut Valley Electric Company Inc.; Woodsville Fire District Water and Light Dept.; New Hampshire Electric Cooperative Inc.; and, in Vermont to one small private utility. It also buys and sells surplus or required power at market clearing prices as the default market through the New England Power Pool/Independent System Operator ("ISO").

    CONNECTICUT VALLEY ELECTRIC COMPANY INC.

         Connecticut Valley Electric Company Inc. ("CVEC"), a wholly-owned subsidiary of CVPS, incorporated under the laws of the State of New Hampshire, has its principal office in Claremont, New Hampshire.

         CVEC acquired the business and properties of CVPS on December 31, 1949, located in New Hampshire and used in carrying on the intrastate business of CVPS in that State. (See Form U-1 in File No. 70-2075)

         The principal business of CVEC is the purchase of electric energy and its transmission, distribution, and sale for light, power, heat and other purposes to over 10,000 customers in Claremont and 12 other towns and villages in New Hampshire.

     

    - 1 -

         For financial reporting purposes, CVEC's financial data is included with CVPS on the Consolidated Financial Statements.

    VERMONT ELECTRIC POWER COMPANY, INC.

         Vermont Electric Power Company, Inc. ("VELCO"), a subsidiary of which CVPS owns 56.8% of its outstanding Common Stock, $100 Par Value, and 46.6% of its outstanding Preferred Stock, $100 Par Value, incorporated under the laws of the State of Vermont, has its principal office in the Town of Rutland, Vermont.

         VELCO operates pursuant to the terms of the 1985 Four-Party Agreement (as amended) with the Company and two other major distribution companies in Vermont. Although the Company owns 56.8% of VELCO's outstanding common stock, the Four-Party Agreement effectively restricts the Company's control of VELCO. Therefore, VELCO's financial statements have not been consolidated. The Four-Party Agreement continued in full force and effect until midnight June 30, 1985, and was extended thereafter as follows until June 30, 1986, with an automatic renewal from year to year unless, at least ninety (90) days prior to any succeeding anniversary, any party were to notify the other parties in writing that it desired to terminate the agreement as of such anniversary. By Amendment to the 1985 Four-Party Agreement dated February 1, 1987, the Agreement continued until May 1, 1987 and thereafter for additional two-year terms, unless at least ninety (90) days prior to any two-year anniversary, any party were to notify the other parties in writing that it desires to terminate the Agreement as of such anniversary. No such notification has been filed by the parties.

         On December 27, 1985, the Company, VELCO and the two other major distribution companies entered into the 1985 Option Agreement (as amended) for the purpose of modifying the terms of an option to purchase certain facilities owned by VELCO, but located in the individual company's service territory, which were originally outlined in the Four-Party Agreement. The option was extended from time to time and expired on December 31, 2001. However, the parties are in the process of completing an amendment that will extend the Agreement from December 31, 2001.

         VELCO provides transmission services for the State of Vermont acting by and through the Vermont Department of Public Service and for all of the electric distribution utilities in the State of Vermont. VELCO is reimbursed for its costs (as defined in the agreements relating thereto) for the transmission of power which VELCO transmits for the State of Vermont and the electric distribution utilities.

         VELCO also has agreements for power purchases for Vermont Yankee Nuclear Power Corporation which it resells at its cost to various electric distribution utilities in the State of Vermont.

         VELCO is also a participant with all of the major electric utilities in New England in the New England Power Pool, acting for itself and as agent for twenty-two other electric utilities in Vermont, including CVPS, whereby the generating and transmission facilities of all of the participants are coordinated on a New England-wide basis through a central dispatching agency to assure their operation and maintenance in accordance with proper standards of reliability, and to attain the maximum practicable economy for all of the participants through the interchange of economy and emergency power.

    VERMONT ELECTRIC TRANSMISSION COMPANY, INC.

         Vermont Electric Transmission Company, Inc. ("VETCO"), a wholly-owned subsidiary of VELCO, incorporated under the laws of the State of Vermont, has its principal office in the Town of Rutland, Vermont.

         VETCO was formed to construct, finance and operate the Vermont portion of the high voltage DC transmission line which ties the New England transmission system to the Hydro-Quebec transmission system.

    - 2 -

    VERMONT YANKEE NUCLEAR POWER CORPORATION

         Vermont Yankee Nuclear Power Corporation ("VY"), an affiliate of CVPS, of which CVPS owns 31.3% of its outstanding common stock, $100 Par Value, incorporated under the laws of the State of Vermont, has its principal office in Brattleboro, Vermont.

         VY was formed by a group of New England Utilities for the purpose of constructing and operating a nuclear-powered generating plant in Vernon, Vermont. The electricity generated by the Vernon plant is sold to VY's sponsoring stockholders.

    C. V. REALTY, INC.

         C. V. Realty, Inc., incorporated under the laws of the State of Vermont, has its principal office in Rutland, Vermont.

         C. V. Realty, Inc., a wholly-owned subsidiary of CVPS, was formed for the purpose of owning, acquiring, buying, selling, and leasing real and personal property and interests therein. It is not the purpose of this Company to own or operate facilities used for the generation, transmission or distribution of electric energy as an electric utility company.

    CENTRAL VERMONT PUBLIC SERVICE CORPORATION -
    EAST BARNET HYDROELECTRIC, INC.

         Central Vermont Public Service Corporation - East Barnet Hydroelectric, Inc. ("East Barnet"), a wholly-owned subsidiary of CVPS, incorporated under the laws of the State of Vermont, has its principal office in Rutland, Vermont.

         East Barnet was formed for the purpose of acquiring and constructing a hydroelectric project having a capacity of 2200 KW in East Barnet, Vermont and leasing said project to CVPS.

         For financial reporting purposes, East Barnet's financial data is included with CVPS on the Consolidating Financial Statements.

    CATAMOUNT RESOURCES CORPORATION

         Catamount Resources Corporation ("CRC"), incorporated under the laws of the State of Vermont, has its principal office in Rutland, Vermont.

         CRC, a wholly-owned subsidiary of CVPS, was formed for the purpose of holding CVPS' subsidiaries that invest in unregulated business opportunities.

         For financial reporting purposes, CRC's financial data is included with CVPS on the Consolidated Financial Statements.

    EVERSANT CORPORATION

         Eversant Corporation ("Eversant") changed its name from SmartEnergy Services, Inc., effective October 23, 2001. Eversant is incorporated under the laws of the State of Vermont and has its principal office in Rutland, Vermont.

     

     

     

     

     

    - 3 -

         Eversant, a wholly-owned subsidiary of CRC, was formed for the purpose of engaging in the sale or rental of energy efficient products and other related goods and services. Eversant has two wholly-owned subsidiaries: SmartEnergy Water Heating Services, Inc. and AgEnergy, Inc. The Home Service Store, Inc. is an affiliate of Eversant, of which Eversant owns a 13.4% equity ownership interest, on a fully diluted basis.

         For financial reporting purposes, Eversant's financial data is included with CRC on the Consolidating Financial Statements.

    SMARTENERGY WATER HEATING SERVICES, INC.

         SmartEnergy Water Heating Services, Inc. ("SEWHS"), incorporated under the laws of the State of Vermont, has its principal office in Rutland, Vermont.

         SEWHS, a wholly-owned subsidiary of Eversant, was formed for the purposes of operating a rental water heater business.

         For financial reporting purposes, SEWHS' financial data is included with CRC on the Consolidating Financial Statements.

    AGENERGY, INC.

         AgEnergy, Inc. ("AgEnergy") changed its name from SmartEnergy Control Systems, Inc., effective August 9, 2001. AgEnergy is incorporated under the laws of the State of Vermont and has its principal office in Rutland, Vermont.

         AgEnergy, a wholly-owned subsidiary of Eversant, was formed for the purpose of developing and distributing energy efficiency products with dairy industry applications.

         For financial reporting purposes, AgEnergy's financial data is included with CRC on the Consolidating Financial Statements.

    THE HOME SERVICE STORE, INC.

         The Home Service Store, Inc. ("HSS"), is incorporated under the laws of the State of Delaware and has its principal office in Alpharetta, Georgia.

         HSS, an affiliate of Eversant which owns a 13.4% equity ownership interest on a fully diluted basis, was formed for the purpose of marketing and engaging in national home maintenance and repair.

    CATAMOUNT ENERGY CORPORATION

         Catamount Energy Corporation ("CEC"), incorporated under the laws of the State of Vermont, has its principal office in Rutland, Vermont.

         CEC, a wholly-owned subsidiary of CRC, was formed primarily for the purpose of investing in energy supply projects. CEC has fourteen wholly-owned subsidiaries: Catamount Rumford Corporation, Equinox Vermont Corporation, Appomattox Vermont Corporation, Catamount Glenns Ferry Corporation, Catamount Rupert Corporation, Summersville Hydro Corporation, Gauley River Management Corporation, Catamount Campbell Hill Corporation, Catamount Thetford Corporation, Catamount Heartlands Corporation, Catamount Heartlands Limited, Catamount Operations, Inc., Catamount Energy (Gilbraltar) Limited, and Catamount Development GmbH.

         For financial reporting purposes, CEC's financial data is included with CRC on the Consolidating Financial Statements.

    - 4 -

    CATAMOUNT RUMFORD CORPORATION

         Catamount Rumford Corporation, formerly CV Rumford, Inc., incorporated under the laws of the State of Vermont, has its principal office in Rutland, Vermont.

         Catamount Rumford Corporation, a wholly-owned subsidiary of CEC, is a 15.0537% limited partner in the Rumford Cogeneration Company, a limited partnership that owns an 85 MW cogeneration facility located in Rumford, Maine.

         For financial reporting purposes, Catamount Rumford Corporation's financial data is included with CRC on the Consolidating Financial Statements.

    RUMFORD COGENERATION COMPANY, L.P.

         Rumford Cogeneration Company, L.P., formed under the laws of the State of Maine, has its principal office in Rumford, Maine.

    EQUINOX VERMONT CORPORATION

         Equinox Vermont Corporation, incorporated under the laws of the State of Vermont, has its principal office in Rutland, Vermont.

         Equinox Vermont Corporation, a wholly-owned subsidiary of CEC, is a 33.1126% general partner in Ryegate Associates, a general partnership that owns a 20 MW wood-fired generating facility in East Ryegate, Vermont.

         For financial reporting purposes, Equinox Vermont Corporation's financial data is included with CRC on the Consolidating Financial Statements.

    RYEGATE ASSOCIATES

         Ryegate Associates is a general partnership formed under the laws of the State of Utah and has its principal office in Houston, Texas.

    APPOMATTOX VERMONT CORPORATION

         Appomattox Vermont Corporation, incorporated under the laws of the State of Vermont, has its principal office in Rutland, Vermont.

         Appomattox Vermont Corporation, a wholly-owned subsidiary of CEC, is a 24.75% limited partner in Appomattox Cogeneration Limited Partnership, a limited partnership that owns a leasehold interest in a 41 MW coal and wood-fired cogeneration facility located in Hopewell, Virginia.

         For financial reporting purposes, Appomattox Vermont Corporation's financial data is included with CRC on the Consolidating Financial Statements.

    APPOMATTOX COGENERATION, INC.

         Appomattox Cogeneration, Inc., a subsidiary of CEC which owns 50% of its outstanding Common Stock, $1 Par Value, is incorporated under the laws of the State of Delaware and has its principal office in Houston, Texas.

     

     

     

    - 5 -

         Appomattox Cogeneration, Inc. owns a 1% general partnership interest in Appomattox Cogeneration Limited Partnership, a limited partnership that owns a leasehold interest in a 41 MW coal and wood-fired cogeneration facility located in Hopewell, Virginia.

    APPOMATTOX COGENERATION L.P.

         Appomattox Cogeneration L.P., formed under the laws of the State of Delaware, has its principal office in Houston, Texas.

    CATAMOUNT GLENNS FERRY CORPORATION

         Catamount Glenns Ferry Corporation, incorporated under the laws of the State of Vermont, has its principal office in Rutland, Vermont.

         Catamount Glenns Ferry Corporation, a wholly-owned subsidiary of CEC, is a 49.5% limited partner in Glenns Ferry Cogeneration Partners, Ltd., which developed and owns a 10 MW gas-fired cogeneration facility in Glenns Ferry, Idaho.

         For financial reporting purposes, Catamount Glenns Ferry Corporation's financial data is included with CRC on the Consolidating Financial Statements.

    GLENNS FERRY MANAGEMENT, INC.

         Glenns Ferry Management, Inc., a subsidiary of CEC which owns 50% of its outstanding Common Stock, no Par Value, is incorporated under the laws of the State of Delaware and has its principal office in Rutland, Vermont.

         Glenns Ferry Management, Inc. owns a 1% general partnership interest in Glenns Ferry Cogeneration Partners, Limited, which developed and owns a 10 MW gas-fired cogeneration facility in Glenns Ferry, Idaho.

    CATAMOUNT RUPERT CORPORATION

         Catamount Rupert Corporation, incorporated under the laws of the State of Vermont, has its principal office in Rutland, Vermont.

         Catamount Rupert Corporation, a wholly-owned subsidiary of CEC, was formed for the purpose of owning a 49.5% limited partnership interest in Rupert Cogeneration Partners, Ltd., which developed and owns a 10 MW gas-fired cogeneration facility in Rupert, Idaho.

         For financial reporting purposes, Catamount Rupert Corporation's financial data is included with CRC on the Consolidating Financial Statements.

    RUPERT MANAGEMENT, INC.

         Rupert Management, Inc., a subsidiary of CEC which owns 50% of its outstanding Common Stock, no Par Value, is incorporated under the laws of the State of Delaware and has its principal office in Rutland, Vermont.

         Rupert Management, Inc. owns a 1% general partnership interest in Rupert Cogeneration Partners, Limited, which developed and owns a 10 MW gas-fired cogeneration facility in Rupert, Idaho.

     

     

     

    - 6 -

    SUMMERSVILLE HYDRO CORPORATION

         Summersville Hydro Corporation, incorporated under the laws of the State of Vermont, has its principal office in Rutland, Vermont.

         Summersville Hydro Corporation, a wholly-owned subsidiary of CEC, is a 99% limited partner in Gauley River Power Partners, L.P. which was formed to develop, own and operate a small power production hydroelectric facility on the Gauley River, Nicholas County, West Virginia.

         For financial reporting purposes, Summersville Hydro Corporation's financial data is included with CRC on the Consolidating Financial Statements.

    GAULEY RIVER MANAGEMENT CORPORATION

         Gauley River Management Corporation, incorporated under the laws of the State of Vermont, has its principal office in Rutland, Vermont.

         Gauley River Management Corporation, a wholly-owned subsidiary of CEC, is the General Partner of Gauley River Power Partners, L.P., which was formed to develop, own and operate a small power production hydroelectric facility on the Gauley River, Nicholas County, West Virginia.

         For financial reporting purposes, Gauley River Management Corporation's financial data is included with CRC on the Consolidating Financial Statements.

    CATAMOUNT INVESTMENT COMPANY, L.L.C.

         Catamount Investment Company, L.L.C. of which CEC owns 33.333%, was formed under the laws of the State of Delaware, and has its principal office in Wilmington, Delaware.

         Catamount Investment Company, L.L.C., was formed for the purpose of investing in independent power projects. Effective December 31, 2001, Catamount Investment Company, L.L.C. was dissolved.

    CATAMOUNT CAMPBELL HILL CORPORATION

         Catamount Campbell Hill Corporation, incorporated under the laws of the State of Wyoming, has its principal office in Rutland, Vermont.

         Catamount Campbell Hill Corporation, a wholly-owned subsidiary of CEC, is a 50% owner in Campbell Hill Wind Partners, LLC, a limited liability company that was formed for the purpose of investing in an independent power project in Wyoming.

         For financial reporting purposes, Catamount Campbell Hill Corporation's financial data is included with CRC on the Consolidating Financial Statements.

    CATAMOUNT THETFORD CORPORATION

         Catamount Thetford Corporation, incorporated under the laws of the State of Vermont, has its principal office in Rutland, Vermont.

         Catamount Thetford Corporation, a wholly-owned subsidiary of CEC, owns 44.7% of the common stock of Fibrothetford Ltd., a private company limited by shares which owns and operates a 38.5 MW poultry litter fired power station in Thetford, England.

     

    - 7 -

         For financial reporting purposes, Catamount Thetford Corporation's financial data is included with CRC on the Consolidating Financial Statements.

    CATAMOUNT HEARTLANDS CORPORATION

         Catamount Heartlands Corporation ("CHC"), incorporated under the laws of the State of Delaware, has its principal office in Wilmington, Delaware.

         CHC, a wholly-owned subsidiary of CEC, was formed primarily for investing in energy supply projects. CHC has three wholly-owned subsidiaries: Catamount Heartlands Limited, Catamount Energy (Gilbraltar) Limited, and Catamount Development GmbH.

         CHC, a wholly-owned subsidiary of CEC, owns 100% of the Common Stock of Catamount Heartlands Limited which owns a 50% interest in Heartlands Power Limited, a limited liability company that develops, owns and operates a 98 MW natural gas-fired power station in Fort Dunlop, England.

         CHC owns 100% of the Common Stock of Catamount Energy (Gilbraltar) Limited which owns 33 1/3% of CIC Luxembourg SàRL, a limited liability company formed for the purpose of investing in wind energy projects in Germany.

         CHC owns 100% of the Common Stock of Catamount Development GmbH, which owns 100% of Catamount Verwaltungs GmbH, a limited liability company in the process of being formed for the purpose of investing in wind energy projects in Germany.

         For financial reporting purposes, CHC's financial data is included with CRC on the Consolidating Financial Statements.

    CATAMOUNT HEARTLANDS LIMITED

         Catamount Heartlands Limited, a private company limited by shares, formed under the laws of England, has its registered office at 69 Old Broad Street, London, United Kingdom.

         Catamount Heartlands Limited, a wholly-owned subsidiary of Catamount Heartlands Corporation, owns 50% of the Common Stock of Heartlands Power Limited, a private company limited by shares, formed to develop, own, and operate a 98 MW gas-fired power station in Fort Dunlop, England

         For financial reporting purposes, Catamount Heartlands Limited's financial data is included with CRC on the Consolidating Financial Statements.

    CATAMOUNT OPERATIONS, INC.

         Catamount Operations, Inc., a subsidiary of CEC which owns 95% of its outstanding Common Stock, no Par Value, is incorporated under the laws of the State of Vermont and has its principal office in Rutland, Vermont. The remaining 5% of the outstanding Common Stock is owned by Gauley River Power Partners, L.P.

         Catamount Operations, Inc. was formed for the purpose of providing operations and maintenance services to independent power facilities.

         For financial reporting purposes, Catamount Operations, Inc.'s financial data is included with CRC on the Consolidated Financial Statements.

     

     

    - 8 -

  3. A brief description of the properties of claimant and each of its subsidiary public utility companies used for the generation, transmission, and distribution of electric energy for sale, or for the production, transmission and distribution of natural or manufactured gas, indicating the location of principal generating plants, transmission lines, producing fields, gas manufacturing plants, and electric and gas distribution facilities, including all such properties which are outside the State in which claimant and its subsidiaries are organized and all transmission or pipelines which deliver or receive electric energy or gas at the borders of such State.
  4. CENTRAL VERMONT PUBLIC SERVICE CORPORATION

         CVPS' electric properties consist of five principal distribution systems, namely, the so-called Central, Bennington, St. Albans, St. Johnsbury and Brattleboro systems. All, except the Brattleboro system, are connected with the transmission facilities of VELCO (an affiliate of CVPS) and all except the St. Albans system are interconnected at the Vermont State line with the facilities of New England Power Company (not an affiliate of CVPS); also the Brattleboro System is directly connected at the Vermont State line with the facilities of the Public Service Company of New Hampshire (not an affiliate of CVPS). The electric generating plants of the Company consist of 20 hydroelectric generating stations, two gas turbine generating stations, and one diesel-electric generating station, of which one hydroelectric generating station is located in New York and the remainder in Vermont.

         The electric systems of CVPS include about 616 miles of overhead transmission lines, about 7,519 miles of overhead distribution lines and about 305 miles of underground distribution lines, which are located in Vermont except for about 22 miles of transmission lines which are located in New Hampshire and about two miles which are located in New York.

         CVPS is a stockholder, together with other New England utilities, in four nuclear generating companies. CVPS is entitled to a percentage of the power output of each of such companies, as follows:

         Vermont Yankee Nuclear Power Corporation in Vermont (31.141% - 162.6 MW); Maine Yankee Atomic Power Company ("MY") in Maine (2% - 16.9 MW); Connecticut Yankee Atomic Power Company ("CY") in Connecticut (2% - 11.6 MW); and Yankee Atomic Electric Company ("YA") in Massachusetts (3.5% - 6.153 MW).

         MY, CY & YA permanently ceased power operations of their nuclear power plants.

         CVPS is a participant with other New England utilities in three major electric generating stations pursuant to joint ownership agreements under each of which the Lead Participant has constructed and is operating the plant for the Participants (including itself) as tenants-in-common. The plants and locations, and the amount of CVPS's participation is as follows:

         Wyman #4 in Maine (1.7769% - 11 MW); Millstone #3 in Connecticut (1.7303% - 20 MW); Joseph C. McNeil Generating Station in Vermont (20% - 10.76 MW).

         The Company, along with eight other Vermont Joint-Owners, owns and operates a 200 MW converter station and associated transmission line in Highgate, Vermont. The station and the associated transmission line interconnects the VELCO system with the system of Hydro-Quebec. The Company is a 47.35% owner of this project.

    CONNECTICUT VALLEY ELECTRIC COMPANY INC.

         CVEC's electric properties consist of two principal systems in New Hampshire which are not interconnected with each other but each of which is connected directly with facilities of CVPS.

     

    - 9 -

         The electric systems of CVEC include about two miles of transmission lines, about 439 miles of overhead distribution lines and about 13 miles of underground distribution lines.

    VERMONT ELECTRIC POWER COMPANY, INC.

         VELCO has no generating facilities but has approximately 483 miles of transmission lines and twenty-five associated substations located in the State of Vermont. VELCO's properties interconnect with the lines of the New York Power Authority at the New York-Vermont State line near Plattsburgh, New York; with the transmission facilities of Niagara Mohawk Power Corporation at the New York-Vermont State line near Whitehall, New York, and North Troy, New York; with lines of New England Power Company at or near the New Hampshire-Vermont State line at Wilder, Vermont and at Monroe, New Hampshire, Claremont, New Hampshire, and at the Massachusetts-Vermont State line near North Adams, Massachusetts; with the lines of Public Service Company of New Hampshire at or near the New Hampshire-Vermont State line at Littleton, New Hampshire, Ascutney, Vermont and Vernon, Vermont; and with the lines of Hydro-Quebec at the Quebec/Vermont border near Highgate, Vermont through an AC/DC/AC converter and 7.6 miles of transmission lines jointly owned by several Vermont utilities. All of its transmission facilities are in Vermont except for approximately 4.3 miles of transmission lines which are located in New Hampshire.

    VERMONT ELECTRIC TRANSMISSION COMPANY, INC.

         VETCO has approximately 52 miles of high voltage DC transmission line connecting at the Quebec-Vermont border in the Town of Norton, Vermont with the transmission line of Hydro-Quebec and connecting at the Vermont-New Hampshire border near New England Power Company's Moore Hydroelectric Generating Station with the transmission line of New England Electric Transmission Corporation, a subsidiary of New England Electric System (not an affiliate of CVPS).

    VERMONT YANKEE NUCLEAR POWER CORPORATION

         Upon installation of the new low pressure turbines in April 1995, Vermont Yankee declared its nuclear power electric generating plant with a net maximum dependable capacity of 510 (Mwe). The plant, which began commercial operation on November 30, 1972, is located on the west bank of the Connecticut River in Vernon, Vermont.

    CENTRAL VERMONT PUBLIC SERVICE CORPORATION -
    EAST BARNET HYDROELECTRIC, INC.

         Electric properties of East Barnet consist of a 2200 KW hydroelectric generating station and associated facilities at East Barnet, Vermont, involving real estate of 25.54 acres.

  5. The following information for the last calendar year with respect to claimant and each of its subsidiary public utility companies:

 

 

 

 

 

 

 

 

 

 

 

 

- 10 -

  1. Number of KWH of electric energy sold (at retail or wholesale), and Mcf of natural or manufactured gas distributed at retail.
  2.  

    State

    Electric (KWH)

     

    Revenues

    Gas (Mcf)

    VY


    VT


    4,171,120,000


    (1)


    $178,840,019


    None

    CVPS


    VT
    NH


    2,694,872,962
       170,546,065
    2,865,419,027




    (2)


    $274,086,419
       13,044,646
    $287,131,065


    None
    None

    CVEC


    NH


       163,039,801

     


    $  20,407,333


    None

    VELCO


    VT


       258,467,521

     


    $  10,363,456


    None

    (1)

    Includes sales to Vermont Electric Power Company, Inc.

    (2)

    Includes sales to Connecticut Valley Electric Company Inc. and Vermont Electric Power Company, Inc.

  3. Number of KWH of electric energy and Mcf of natural or manufactured gas distributed at retail outside the State in which each company is organized.
  4. None

  5. Number of KWH of electric energy and Mcf of natural or manufactured gas sold at wholesale outside the State in which each such company is organized, or at the State line.
  6.  

    State

    Electric (KWH) (1)

     

    Expenses

    Gas (Mcf)

    VY

     

    None

    (1)

    None

    None

    CVPS


    NH


    170,546,065


    (2)


    $13,044,646


    None

    CVEC

     

    None

     

    None

    None

    VELCO

     

    None

     

    None

    None

    (1)

    Deliveries made at the step-up substation at the site.

    (2)

    Includes sales to Connecticut Valley Electric Company Inc.

     

     

     

     

     

     

     

     

     

     

    - 11 -

  7. Number of KWH of electric energy and Mcf of natural or manufactured gas purchased outside the State in which each such company is organized, or at the State line.

 

State

Electric (KWH)

 

Expenses

Gas (Mcf)

VY

 

None

 

None

None

CVPS


CT
GA
IL
MA
MD
MN
NE
NH
NY
PA
TX
WI


    3,200,000
  62,600,000
    7,600,000
    1,600,000
    9,200,000
       400,000
    1,200,000
  51,195,978
        17,569
      400,000
    6,050,000
    8,800,000
152,263,547



$     176,400
    2,926,200
       298,300
       187,500
       385,800
         21,100
         50,400
    2,178,412
           2,111
         20,200
       342,919
       380,600
$  6,969,942


None
None
None
None
None
None
None
None
None
None
None
None

CVEC


VT


130,554,600

 


$  2,976,432


None

VELCO

 

None

 

None

None

Central Vermont Public Service Corporation -
East Barnet Hydroelectric, Inc.

East Barnet leases one hydroelectric generating station, which went into service September 1, 1984 to CVPS.

  1. The following information for the reporting period with respect to claimant and each interest it holds directly or indirectly in an exempt wholesale generator ("EWG") or a foreign utility company, stating monetary amounts in United States dollars:
  1. Name, location, business address and description of the facilities used by the EWG or foreign utility company for the generation, transmission and distribution of electric energy for sale or for the distribution at retail of natural or manufactured gas.
  2.       Glenns Ferry Cogeneration Partners, Ltd. located in Glenns Ferry, Idaho; its registered office is 71 Allen Street, Suite 101, Rutland, Vermont. The facility is a 10 MW gas-fired cogeneration facility placed in operation on December 2, 1996.

          Rupert Cogeneration Partners, Ltd. located in Rupert, Idaho; its registered office is 71 Allen Street, Suite 101, Rutland, Vermont. The facility is a 10 MW gas-fired cogeneration facility placed in operation on November 21, 1996.

          Gauley River Power Partners, L.P. located in Somersville, West Virginia; its registered office is 71 Allen Street, Suite 101, Rutland, Vermont. The facility is an 80 MW hydroelectric facility placed in operation on July 30, 2001.

     

     

    - 12 -

          Fibrothetford Limited, located in Thetford in Norfolk, England; its registered office is 38 Clarendon Road, London, England W11 3AD. The facility is a poultry litter fired power station designed to produce 38.5 MW.

          Heartlands Power Limited, located in Fort Dunlop, Birmingham, England; its registered office is Allington House, 150 Victoria Street, London, England SWIE 5LB. The facility is a simple cycle gas fired power station with an expected capacity of 98 MW.

          CIC Luxembourg SàRL, formed under the laws of Luxembourg, a private company limited by shares, has its registered office at 54, Boulevard Napoleon 1 CR, Luxembourg.

          CIC Luxembourg SàRL was formed for the purpose of investing in wind energy projects and owns 100% of CIC Verwaltungs GmbH, a general partner in two wind energy farms in Germany, and 100% of CIC Beteiligungs GmbH, a limited partner in two wind energy projects in Germany.

  3. Name of each system company that holds an interest in such EWG or foreign utility company; and description of the interest held.
  4.       Central Vermont Public Service Corporation ("the Company") is the holding company system; Catamount Energy Corporation ("CEC") is a wholly-owned subsidiary of Catamount Resources Corporation; Catamount Glenns Ferry Corporation ("CGFC") is a wholly-owned subsidiary of CEC. CEC owns 50% of Glenns Ferry Management Inc. ("GFM"), the 1% general partner of Glenns Ferry Cogeneration Partners, Ltd. ("Glenns Ferry") and Indeck Capital Incorporated owns 50%. CGFC owns 49.5% of Glenns Ferry and Eastern Glenns Ferry owns the remaining 49.5%. Glenns Ferry is a limited partnership formed under and in accordance with the laws of the State of Colorado. The facility is used for the generation of electric energy for sale at wholesale and steam for sale at wholesale.

          Central Vermont Public Service Corporation ("the Company") is the holding company system; Catamount Energy Corporation ("CEC") is a wholly-owned subsidiary of Catamount Resources Corporation; Catamount Rupert Corporation is a wholly-owned subsidiary of CEC. CEC owns 50% of Rupert Management Inc. ("RM"), the 1% general partner of Rupert Cogeneration Partners, Ltd. ("Rupert") and Indeck Capital Incorporated owns 50%. Catamount Rupert Corporation owns 49.5% of Rupert and Eastern Rupert owns the remaining 49.5%. Rupert is a limited partnership formed under and in accordance with the laws of the State of Colorado. The facility is used for the generation of electric energy for sale at wholesale and steam for sale at wholesale.

          Central Vermont Public Service Corporation ("the Company") is the holding company system; Catamount Energy Corporation ("CEC") is a wholly owned subsidiary of Catamount Resources Corporation; Summersville Hydro Corporation ("SHC") is a wholly owned subsidiary of CEC; Gauley River Power Partners Limited (GRPP) is 99% owned by SHC and 1% owned by Gauley River Management Corp. GRPP was formed under the laws of the State of Vermont. GRPP is a hydroelectric power generation facility.

          Central Vermont Public Service Corporation ("the Company") is the holding company system; Catamount Energy Corporation ("CEC") is a wholly-owned subsidiary of Catamount Resources Corporation; Catamount Thetford Corporation ("CTC") is a wholly-owned subsidiary of CEC. CTC is a 44.7% shareholder of Fibrothetford Limited ("Thetford"), Foster Wheeler Energy Limited is a 5% shareholder; and Fibrowatt Limited is 51% shareholder. FibroThetford is incorporated as a private company limited by shares under the Companies Act of 1985, formed under and in accordance with the laws of England and Wales, United Kingdom. FibroThetford is an electric power station fueled predominantly by poultry litter.

     

     

    - 13 -

          Central Vermont Public Service Corporation ("the Company") is the holding company system; Catamount Energy Corporation ("CEC") is a wholly-owned subsidiary of Catamount Resources Corporation; Catamount Heartlands Corporation ("CHC") is a wholly-owned subsidiary of CEC. CHC is a 100 percent shareholder of Catamount Heartlands Limited ("CHL"), which is a 50 percent shareholder of Heartlands Power Limited ("Heartlands") and Rolls Royce Power Ventures Limited is a 50 percent shareholder. Heartlands is incorporated as a private company limited by shares under the Companies Act of 1985, formed under and in accordance with the laws of England and Wales, United Kingdom. Heartlands is a gas-fired electric power station.

          Central Vermont Public Service Corporation ("the Company") is the holding company system; Catamount Energy Corporation ("CEC") is a wholly-owned subsidiary of Catamount Resources Corporation; Catamount Heartlands Corporation ("CHC") is a wholly-owned subsidiary of CEC. Catamount Heartlands (Gibraltar) Limited is a wholly owned subsidiary of CHC, Catamount Heartlands (Gibraltar) Limited is a 33.333% shareholder of CIC Luxembourg SàRL, and Rock Energy Limited and Chessman SàRL each own 33.333%. CIC Luxembourg SàRL is a 100% shareholder of CIC Verwaltungs GmbH, general partner; and CIC Beteiligungs GmbH, limited partner, of DK Burgerwindpark Eckolstädt ("Eckolstädt") GmbH & Co. KG. and DK Windpark Kavelstorf ("Kavelstorf") GmbH & Co. Kg.

  5. Type and amount of capital invested, directly or indirectly, by the holding company claiming exemption; any direct or indirect guarantee of the security of the EWG or foreign utility company by the holding company claiming exemption; and any debt or other financial obligation for which there is recourse, directly or indirectly, to the holding company claiming exemption or another system company, other than the EWG or foreign utility company.
  6.  

    Indirect Capital
    Invested (1)

    Guarantee
    of Security

    Debt or Financial
    Obligation

    CATAMOUNT RESOURCES
    CORPORATION


    None


    $5,000,000


    None

    CATAMOUNT ENERGY
    CORPORATION


    None


    None


    $13,017,000

    CATAMOUNT GLENNS
    FERRY CORPORATION


    None


    None


    None

    GLENNS FERRY
    MANAGEMENT CORPORATION


    None


    None


    None

    CATAMOUNT RUPERT
    CORPORATION


    None


    None


    None

    RUPERT MANAGEMENT
    CORPORATION


    None


    None


    None

    SUMMERSVILLE HYDRO
    CORPORATION


    $7,425,000


    None


    None

    CATAMOUNT THETFORD
    CORPORATION


    $2,528,718


    None


    None

    CATAMOUNT HEARTLANDS
    CORPORATION


    $3,360,124


    None


    None

    - 14 -

    CATAMOUNT HEARTLANDS
    LIMITED


    $3,016,515


    None


    None

    CATAMOUNT ENERGY
    (GILBRATAR) LIMITED


    $   585,296


    None


    None

    (1) Investment account plus loan balance including accrued interest.

  7. Capitalization and earnings of the EWG or foreign utility company during the reporting period.
  8.  

    Capitalization

    Earnings

    GLENNS FERRY COGENERATION
    PARTNERS LTD.


    $11,600,504

     
    $     31,812

    RUPERT COGENERATION
    PARTNERS LTD.


    $10,576,986

     
    $(   435,143)

    GAULEY RIVER POWER
    PARTNERS LTD.


    $56,802,561


    $(2,364,319)

    FIBROTHETFORD LTD.

    $93,297,194

    $(5,341,864)

    HEARTLANDS POWER
    LIMITED


    $63,321,380

     
    $ 2,153,907

    CIC LUXEMBOURG SÀRL

    $  5,852,964

    $    150,758

  9. Identify any service, sales or construction contract(s) between the EWG or foreign utility company and a system company, and describe the services to be rendered or goods sold and fees or revenues under such agreement(s).

    Administrative management services provided to Glenns Ferry Cogeneration, fees and reimbursed expenses - $94,064.

    Administrative management services provided to Rupert Cogeneration, fees and reimbursed expenses - $94,064.

    Administrative O&M services provided to Gauley River Power Partners, fees and reimbursed expenses - $32,639.

    Administrative management services provided to CIC Luxembourg SàRL, fees and reimbursed expenses - $111,709.

    Administrative and construction services provided to DK Burgerwindpark Eckolstädt GmbH & Co., fees and reimbursed expenses - $52,675.

    Administrative and construction services provided to DK Windpark Kavelstorf GmbH & Co., fees and reimbursed expenses - $38,574.

 

 

 

 

 

 

 

 

 

 

- 15 -

EXHIBITS

    Amended Exhibit A consists of a consolidating statement of income and retained earnings of the claimant and its subsidiary companies for the last calendar year, together with a consolidating balance sheet of claimant and its subsidiary companies as of the close of such calendar year. See attachments for consolidating financial statements of CVPS and its subsidiaries for the year 2001.

    Exhibit B is the Financial Data Schedule.

    Exhibit C is the Organizational chart showing the relationship of each EWG to associate companies in the holding-company system.

    The above-named claimant has caused this statement to be duly executed on its behalf by its authorized officer on this 24th day of May, 2002.

CENTRAL VERMONT PUBLIC SERVICE CORPORATION
(Name of Claimant)

 

By:     /s/ Jean H. Gibson                             

 

Jean H. Gibson, Senior Vice President, Chief Financial Officer, and Treasurer
(Principal Financial Officer)

 

CORPORATE SEAL

 

Attest:

/c/ Mary C. Marzec                           
Assistant Corporate Secretary

 

Name, title, and address of officer to whom notices and correspondence concerning this statement should be addressed:

Mary C. Marzec                                                      Assistant Corporate Secretary                        
(Name)                                                                    (Title)

                                        Central Vermont Public Service Corporation                                         
                                               77 Grove Street, Rutland, VT 05701                                             
(Address)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

- 16 -

           

1 of 4

Exhibit A

CENTRAL VERMONT PUBLIC SERVICE CORPORATION
AND ITS SUBSIDIARIES

Consolidated Statement of Income and Retained Earnings
Year Ended December 31, 2001
(Dollars in thousands)

 





CVPS




CVPS-East Barnet
Hydroelectric, Inc.

   

Reclassi-fying & Consol-
idating
Entries




CVPS
SEMI-CONS

             

Operating Revenues

$              293,042 

$                       353 

   

$      (353)

$      293,042 

             

Operating Expenses:
 Operation:
   Purchased Power
   Production and transmission
   Other Operation
 Maintenance
 Depreciation
  Other taxes, principally property taxes
 Taxes on income



 143,396 
  24,830 
  41,202 
  17,692 
  16,449 
  12,179 
                  11,075 



 
    
   24
    
   111
    
                        (31)

   



 
(353)
    

 
 
               



 143,396 
  24,477 
 41,226 
  17,692 
  16,560 
  12,179 
          11,044 

             

      Total operating expenses

                266,823 

                        104 

   

        (353)

        266,574 

             

Operating Income (loss)

  26,219 

   249 

   

      

  26,468 

             

Other income and deductions:
 Equity in Earnings of companies not
  consolidated
 Allow. for equity funds during constr.
 Other income, net
 Other taxes
 Benefit (provision) for income taxes



   (7,646)
      59 
   (7,448)
  (48)
                   3,292 



      
 
     3 
 
                          5 

   



 51 
 
 
 
               



     (7,595)
      59 
 (7,445)
  (48)
           3,297 

Total operating and other income
Net interest expense

  14,428 
                 12,021 

   257 
                       308 

   

 51 
               

  14,736 
          12,329 

Net income (loss) before extraordinary items

                   2,407 

(51)

   

51 

2,407 

Extraordinary item, net of tax

                             

                             

   

               

                     

Net income (loss)

2,407 

(51)

   

 51 

  2,407 

             

Retained Earnings, January 1

                  78,423 

                      (538)

   

          538 

          78,423 

 

                  80,830 

                      (589)

   

          589 

          80,830 

Adjustment to Retained Earnings

     219 

           

   

           

219 

Cash dividends declared:
 Preferred Stock
 Common Stock


   1,696 
                 10,183 


      
                             

   


    
               


   1,696 
          10,183 

      Total Dividends

                 11,879 

                             

   

               

          11,879 

Retained Earnings, December 31

$               69,170 

$                   (589)

$        589 

$        69,170 

 

 

 

 

 

 

 

 

 

- 17 -

           

2 of 4


CENTRAL VERMONT PUBLIC SERVICE CORPORATION
AND ITS SUBSIDIARIES

Consolidated Statement of Income and Retained Earnings
Year Ended December 31, 2001
(Dollars in thousands)

 





CRC



Catamount Energy Corporation





Eversant

 

Reclassi-
fying &
Consol-
idating
Entries





CRC -CONS

             

Operating Revenues

                         

$                 504 

$                 1,924  

 

$          473

$            2,901 

             

Operating Expenses:
 Operation and maintenance:
   Purchased Power
   Production and transmission
   Other Operation
 Maintenance
 Depreciation
 Other taxes
 Taxes on income



 




  
 $                     1  





4,537 
11 
50 
116 
                1,793 





3,747 

       270 
87 
                  (1,468) 

 





  349 
(20)


                  



 

  8,633 

  320 
  203 
                 326 

             

      Total operating expenses

                       1  

               6,507 

                   2,645 

 

           329 

              9,482 

             

Operating Income (loss)

  (1)

(6,003)

      (721)

 

   144 

  (6,581) 

             

Other income and deductions:
 Equity in Earnings of companies not
  consolidated
 Allow. For equity funds during constr.
 Other income (expenses), net
 Other taxes
 Benefit (provision) for income taxes



   (10,779)
      
   2 
     
                            



6,079 

      (7,767)
 
                          





      (788)

                          

 



  10,779 

  (144)
    
                  



   6,079 
      
   (8,697)
    
                        

             

Total operating and other income (loss)
Net interest expense

  (10,778)
                            

(7,691)
                1,009 

      (1,509)
                       570 

 

  10,779 
                  

  (9,199)
              1,579 

Net income (loss) before extraordinary item

(10,778) 

   (8,700) 

            (2,079)

 

  10,779 

  (10,778)

Extraordinary item, net of tax

                            

                          

                              

 

                  

                        

Net income (loss)

(10,778)

(8,700)

(2,079)

 

10,779 

(10,778)

Retained Earnings, January 1

                  8,771 

                9,035 

                  (8,021)

 

       (1,014)

            8,771 

 

                 (2,007)

                  335  

                (10,100)

 

        9,765 

            (2,007) 

Adjustment to Retained Earnings

     260 

 

260 

 

(260)

     260 

Cash dividends declared:
 Preferred Stock
 Common Stock


   
                            



                          



                              

 



                  


    
                        

      Total Dividends

                            

                          

                              

 

                  

                        

             

Retained Earnings, December 31

$               (1,747)

$                 335 

$                (9,840) 

 

$       9,505

$           (1,747)

 

 

 

 

 

 

 

 

 

- 18 -

           

3 of 4


CENTRAL VERMONT PUBLIC SERVICE CORPORATION
AND ITS SUBSIDIARIES

Consolidated Statement of Income and Retained Earnings
Year Ended December 31, 2001
(Dollars in thousands)

 



Catamount
Energy
Corporation*




Catamount
Operations, Inc.




Catamount
Heartlands, Ltd.

 

Reclassi-
fying &
Consol-
idating
Entries


Catamount
Energy
Corporation

Consolidated

Operating Revenues

$                   504 

                            

                             

 

                 

$             504 

             

Operating Expenses:
 Operation:
   Purchased Power
   Production and transmission
   Other Operation
 Maintenance
 Depreciation
  Other taxes, principally property taxes
 Taxes on income



  
  
  4,517 
  11 
  50 
  116 
                1,289 



 
    
$               (5)
    
    
    
                        3 





$               25 



                    501 

 



 

    

 
 
                 



  
   
 4,537 
  11 
  50 
  116 
            1,793 

             

      Total operating expenses

                 5,983 

                       (2)

                    526 

 

                 

            6,507

             

Operating Income (loss)

  (5,479)

   2 

(526)

 

      

  (6,003)

             

Other income and deductions:
 Equity in Earnings of companies not
  consolidated
 Allow. for equity funds during constr.
 Other income (expenses), net
 Other taxes
 Benefit (provision) for income taxes



   4,629 
       
   (7,774)
  
                            



      
 

 
                           



1,450 



                             

 



  
 
 
 
               



     6,079 
       
 (7,767)
  
                     

Total operating and other income
Net interest expense

  (8,624)
                1,009 

   2 
                           

931 
                             

 

  
               

  (7,691)
            1,009 

Net income (loss) before extraordinary items

           (9,633)

931 

 

 

(8,700)

Extraordinary item, net of tax

                            

                           

                             

 

               

                     

Net income (loss)

(9,633)

931 

   

  (8,700)

             

Retained Earnings, January 1

                9,968 

                      (5)

                     634 

 

$   (1,562)

         9,035 

 

               335  

                 (3)

1,565 

 

(1,562)

           335 

Adjustment to Retained Earnings

      

           

   

           

 

Cash dividends declared:
 Preferred Stock
 Common Stock


    
                            


      
                           



                             

 


    
               


   
                     

      Total Dividends

                            

                            

                             

 

               

                     

Retained Earnings, December 31

$                  335 

$                     (3)

$                1,565 

$  (1,562)

$            335 


* Catamount Energy Corporation and associated companies.

 

 

 

 

 

 

 

 

 

- 19 -

           

4 of 4


CENTRAL VERMONT PUBLIC SERVICE CORPORATION
AND ITS SUBSIDIARIES

Consolidated Statement of Income and Retained Earnings
Year Ended December 31, 2001
(Dollars in thousands)

 




Eversant Corporation





AgEnergy, Inc.



SmartEnergy
Water Heating
Services

 

Reclassi-
fying &
Consol-
idating
Entries



Eversant
Corporation
Consolidated

             

Operating Revenues

$                     160 

                      

$              1,764  

 

                 

$          1,924 

             

Operating Expenses:
 Operation:
   Purchased Power
   Production and transmission
   Other Operation
 Maintenance
 Depreciation
  Other taxes, principally property taxes
 Taxes on income



 
  
  1,466 
  4 
  20 
  46 
                   (1,564)



 
    
$          1,358 
   2 
   4 
   15 
              (169)





                  923 

246 
26 
                    265 

 



 

    

 
 
                 



  
   
 3,747 
  9 
  270 
  87 
          (1,468)

             

      Total operating expenses

                        (28)

            1,210 

                1,463 

 

                 

           2,645 

             

Operating Income (loss)

  188 

   (1,210)

301 

 

      

  (721)

             

Other income and deductions:
 Equity in earnings of companies not
  consolidated
 Allow. for equity funds during constr.
 Other income, net
 Other taxes
 Benefit (provision) for income taxes



   134 
       
   (1,786)
  
                             



      
 
     969 
 
                      





194 

                           

 



$      (134)
 
(165)
 
                 



    
       
(788)
  
                      

Total operating and other income
Net interest expense

  (1,464)
                      616  

   (241)
                      

495 
                   119 

 

(299)
       (165)

  (1,509)
          570 

Net income (loss) before extraordinary items

               (2,080)

(241) 

                   376  

 

(134)

(2079)

Extraordinary item, net of tax

                              

                      

                           

 

                

                      

Net income (loss)

               (2,080)

(241) 

                   376  

 

(134)

(2079)

Retained Earnings, January 1

                 (8,020)

                72  

                   839 

 

        (912)

           (8,021)

 

(10,100)

(169) 

1,215 

 

 (1,046)

(10,100)

             

Adjustment to Retained Earnings

     260 

           

44 

 

(44)

260 

Cash dividends declared:
 Preferred Stock
 Common Stock



                            


      
                     



                   900 

 


    
        (900)


   
                     

      Total Dividends

                              

                      

                   900 

 

        (900)

                     

Retained Earnings, December 31

$               (9,840)

$           (169)

$                 359 

$      (190)

$         (9,840)

 

 

 

 

 

 

 

 

 

 

 

- 20 -

           

1 of 8


CENTRAL VERMONT PUBLIC SERVICE CORPORATION
AND ITS SUBSIDIARIES

Consolidated Balance Sheet
Year Ended December 31, 2001
(Dollars in thousands)

 





CVPS




CVPS-East Barnet
Hydroelectric, Inc.

   

Reclassi-fying & Consol-
idating
Entries




CVPS
SEMI-CONS

Assets

           
             

Utility plant, at original cost
 Less accumulated depreciation 

$         469,671 
            190,273 

$                    6,151 
                      2,118 

   

 
                 

$        475,822 
          192,391 

 

 279,398 

  4,033 

     

   283,431 

 Construction work in progress

              15,295 

                               

   

                 

            15,295 

 

 294,693 

   4,033 

   

 

   298,726 

Nuclear fuel
 Less accumulated amortization

   8,699 
               7,847 

 
                               

   

 
                 

   8,699 
              7,847 

             

     Net utility plant

            295,545 

                      4,033 

                 

          299,578 

             

Investments in affiliates,  at equity
  Nuclear generating companies
  Other affiliated companies


  19,452
               40,686



                                

   


 
$         489 


     19,452 
            41,175 

     Total

               60,138

                               

   

           489 

            60,627 

             

Nonutility investments

                         

                               

   

                 

                       

             

Nonutility property, less accumulated
 depreciation of $209 parent company
 and $209 semi-consolidated



                   448 



                               

   



                 



                 448 

             

Current assets:
 Cash & Cash Equivalents
 Accounts receivable, less allowance
  for uncollectible accts.
  $1,088 parent company and $1,088 semi-consolidated
 Accounts receivable - affiliates
 Unbilled revenue
 Materials and supplies, at average cost
 Prepayments
 Other current assets


  35,256 


  18,564 
     4,496 
  16,218 
   4,162 
   3,541 
                5,370 


     95 


   
   3,288
      
    
10
                               

   


 


 
 (3,785)
 
 
 
                 


    35,351 


    18,564 
     3,999 
    16,218 
    4,162 
     3,551 
              5,370 

             

     Total current assets

              87,607 

                        3,393

   

       (3,785)

            87,215 

             

Regulatory assets and other
 deferred charges


        
      38,510 


                          246 

   


                 


            38,756 

             

     Total Assets

$          482,248 

$                   7,672 

   

$     (3,296)

$        486,624 

 

 

 

 

 

 

 

 

- 21 -

           

2 of 8


CENTRAL VERMONT PUBLIC SERVICE CORPORATION
AND ITS SUBSIDIARIES

Consolidated Balance Sheet
Year Ended December 31, 2001
(Dollars in thousands)

 



CVPS


CVPS-East Barnet
Hydroelectric, Inc.

   

Consol-
idating
Entries


CVPS
SEMI-CONS

Capitalization and Liabilities

           
             

Capitalization:
Common stock
Other paid-in capital
Capital stock expense
Accum. other comprehensive income
Deferred compensation plans
Treasury stock, at cost
Retained Earnings


$            70,715 
  49,439 
  (1,805)
    (274)
    (1,097)
  (2,285)
             69,170 


        
$                         100 
 
 
 

                          (589)

   


     
$          (100)
 
 
 
      
             589 


$          70,715 
    49,439 
    (1,805)
      (274)
      (1,097)
    (2,285)
            69,170 

             

     Total common stock equity

            183,863 

                         (489) 

   

             489 

          183,863 

             

Cumulative preferred and preference  stock

              23,054 

                                  

   

                    

           23,054 

             

First Mortgage bonds
Second Mortgage bonds
Notes payable
Capital lease obligations

  46,000 
  75,000 
  10,500 
             12,897 

   
 
   5,800 
                                  

   

 
 

                   

   46,000 
    75,000 
    16,300 
            12,897 

             

     Total long-term debt

           144,397 

                        5,800 

   

                   

          150,197 

             

     Total capitalization

           351,314 

                       5,311 

   

             489 

          357,114 

             

Current liabilities:
 Notes payable - banks
  Long-term debt - current portion
 Accounts payable
 Accounts payable - affiliates
 Accrued interest
 Accrued income taxes
 Other current liabilities


 
   8,000 
   2,994 
  15,784 
   2,866 
   (18)
              20,048 


 
    
  
    372 
      
       
                         138 

   


 
 
 
(3,659)
 
 
            (126)


 
    8,000 
    2,994 
     12,497 
     2,866 
     (18)
            20,060 

     Total current liabilities

              49,674 

                         510 

   

         (3,785)

            46,399 

             

Accumulated deferred income taxes
Deferred investment tax credits
Nuclear decommissioning costs
Deferred credits

  30,116 
   5,280 
  12,826 
              33,038 

1,516 
335 
 
                                 

   

 
 
 
                   

    31,632 
    5,615 
 12,826 
           33,038 

 

              81,260 

                       1,851 

   

                  

            83,111 

Total Capitalization and Liabilities

$          482,248 

$                     7,672 

   

$       (3,296)

$        486,624 

 

 

 

 

 

 

 

 

 

- 22 -

           

3 of 8


CENTRAL VERMONT PUBLIC SERVICE CORPORATION
AND ITS SUBSIDIARIES

Consolidated Balance Sheet
Year Ended December 31, 2001
(Dollars in thousands)

 





CRC



Catamount
Energy

Corporation





Eversant

 

Reclassi-
fying &
Consol-
idating
Entries





CRC - CONS

Assets

           
             

Utility plant, at original cost
 Less accumulated depreciation 

     
                        

     
                            


                                  

 


                  

         
                        

 

 

   

     

 

 Construction work in progress

                        

                            

                                  

 

                  

                        

             

Nuclear fuel
 Less accumulated amortization

   
                        


                            


                                  

 


                  


                        

             

     Net utility plant

                        

                            

                                  

 

                  

                        

             

Investments in affiliates,  at equity
  Nuclear generating companies
  Other affiliated companies



                        



                            



                                  

 



                  


  
                        

     Total

                        

                            

                                  

 

                  

                        

             

Nonutility investments

$     28,805 

$            48,180 

$                     1,363 

 

$   (28,805)

$          49,543 

             

Nonutility property, less accumulated
 depreciation of $4,252 consolidated


                        


                   611 


                      1,315 

 


                  


              1,926 

             

Current assets:
 Cash & Cash Equivalents
 Accounts receivable, less allowance for
  uncollectible accts. $578 consolidated
 Accounts receivable - affiliates
 Unbilled revenue
 Materials and supplies, at average cost
 Prepayments
 Other current assets


  46 

  
   
  
   
   
                        


      8,205 

   256 
       

      
15 
                         4 


     1,321 

128 
392 



                        (6)

 





  (1)



                  


  9,572 

  384 
   391 
  
  5 
   21 
                    (2)

     Total current assets

                   46 

                 8,480

                      1,846  

 

              (1)

            10,371 

             

Regulatory assets and other
 deferred charges


                        


                     995 


                            8 

 


                  


              1,003 

             

     Total Assets

$          28,851

$            58,266

$                    4,532  

 

$   (28,806)

$          62,843 

 

 

 

 

 

 

 

 

 

 

- 23 -

           

4 of 8


CENTRAL VERMONT PUBLIC SERVICE CORPORATION
AND ITS SUBSIDIARIES

Consolidated Balance Sheet
Year Ended December 31, 2001
(Dollars in thousands)

 





CRC



Catamount
Energy
Corporation





Eversant

 

Reclassi-
fying &
Consol-
idating
Entries





CRC -CONS

Capitalization and Liabilities

           
             

Capitalization:
Common stock
Other paid-in capital
Capital stock expense
Accum. other comprehensive income
Deferred compensation plans
Retained Earnings
Treasury stock


     
$                30,598 
  
    
    
(1,747)
                              


         
$            25,647 

(349)

335 
                          


                 
$                12,663 



     (9,840)
                              

 


        
$   (38,310)



 9,505 
                  


          
$          30,598 
  
    (349)
    
  (1,747)
                        

             

     Total common stock equity

                  28,851 

              25,633 

                    2,823 

 

     (28,805)

          28,502  

             

Cumulative preferred and preference  stock

           

Return of Capital

                              

                          

                        

 

                  

                        

     Total preferred stock

           
             
             

First Mortgage bonds
Second Mortgage bonds
Notes payable
Capital lease obligations

  
  
  
                              



   21,542 
                          



929 
                              

 



  
                  

  
  
 22,471 
                        

             

     Total long-term debt

                              

              21,542 

                       929 

 

                  

          22,471 

             

Minority Interest

                              

                          

                              

 

                  

                        

             

     Total capitalization

                  28,851 

               47,175

                   3,752 

 

     (28,805)

            50,973 

             

Current liabilities:
 Notes payable - banks
 Notes payable - associated
 Long-term debt - current portion
 Accounts payable
 Accounts payable - affiliates
 Accrued interest
 Accrued income taxes
 Other current liabilities




   
   
  
   
   
                              




     29 
   1,335 
494 
259 
            92 
                  178 




196 
       66 
342 


                      649 

 





  
(1)


                  



   
225 
   1,401 
  835 
   263 
   92 
                827 

             

     Total current liabilities

                              

                2,387 

                   1,257 

 

              (1)

              3,643 

             

Accumulated deferred income taxes
Deferred investment tax credits
Nuclear decommissioning costs
Deferred credits

   
    
   
                              

     6,820 
      

                1,884 

(477)


                             

 




                  

  6,343 
    
   
              1,884 

 

                              

                8,704 

                    (477)

 

                  

              8,227 

Total Capitalization and Liabilities

$                28,851 

$            58,266 

$                4,532  

 

$   (28,806)

$          62,843 

 

 

 

- 24 -

           

5 of 8


CENTRAL VERMONT PUBLIC SERVICE CORPORATION
AND ITS SUBSIDIARIES

Consolidated Balance Sheet
Year Ended December 31, 2001
(Dollars in thousands)

 




Catamount
Energy

Corporation*





Catamount

Operations, Inc.





Catamount
Heartlands, Ltd.

 


Reclassi-
fying &
Consol-
idating
Entries



Catamount
Energy
Corporation
Consolidated

Assets

           
             

Utility plant, at original cost
 Less accumulated depreciation 

     
                        

     
                            


                                  

 


                  

         
                        

 

 

   

     

 

 Construction work in progress

                        

                            

                                  

 

                  

                        

             

Nuclear fuel
 Less accumulated amortization

   
                        


                            


                                  

 


                  


                        

             

     Net utility plant

                        

                            

                                  

 

                  

                        

             

Investments in affiliates,  at equity
  Nuclear generating companies
  Other affiliated companies



                        



                            



                                  

 



                  


  
                        

     Total

                        

                            

                                  

 

                  

                        

             

Nonutility investments

$          47,275 

         

$                      3,017 

 

$     (2,112)

$          48,180 

             

Nonutility property, less accumulated
 depreciation of $0 consolidated


                 611 


                            


                                  

 


                  


                 611 

             

Current assets:
 Cash & Cash Equivalents
 Accounts receivable, less allowance for
  uncollectible accts. $0 consolidated
 Accounts receivable - affiliates
 Unbilled revenue
 Materials and supplies, at average cost
 Prepayments
 Other current assets


  8,187 

242 
  15 
  
   
  15 
                   4 


$                    16 

   14 
       

       

                            


     2 

 
35 

 
 
                               

 





  (50)



                  


  8,205 

  256 
    
  
   
   15 
                  4 

     Total current assets

              8,463 

                      30 

                          37 

 

           (50)

            8,480 

             

Regulatory assets and other
 deferred charges


                 995 


                           


                               

 


                  


                 995 

             

     Total Assets

$          57,344

$                    30 

$                    3,054  

 

$     (2,162)

$          58,266 

   
* Catamount Energy Corporation and associated companies.

 

 

 

 

 

- 25 -

           

6 of 8


CENTRAL VERMONT PUBLIC SERVICE CORPORATION
AND ITS SUBSIDIARIES

Consolidated Balance Sheet
Year Ended December 31, 2001
(Dollars in thousands)

 



Catamount
Energy

Corporation*




Catamount

Operations, Inc




Catamount
Heartlands, Ltd.

 

Reclassi-
fying &
Consol-
idating
Entries


Catamount
Energy
Corporation
Consolidated

Capitalization and Liabilities

           
             

Capitalization:
Common stock
Other paid-in capital
Capital stock expense
Accum. other comprehensive income
Deferred compensation plans
Retained Earnings
Treasury stock


     
$                25,647 
  
    (403)
    
335 
                              


         




$                  (3)
                          


                 
$                     550 

54 

     1,565 
                              

 


        
$        (550)



 (1,562)
                  


          
$          25,647 
  
    (349)
    
  335 
                        

             

     Total common stock equity

                  25,579 

                    (3)

                    2,169 

 

       (2,112)

            25,633 

             

Cumulative preferred and preference  stock

           

Return of Capital

                              

                         

                        

 

                  

                        

     Total preferred stock

           
             
             

First Mortgage bonds
Second Mortgage bonds
Notes payable
Capital lease obligations

  
  
 21,542 
                              



    
                        



 
                              

 



  
                  

  
  
 21,542 
                        

             

     Total long-term debt

                  21,542 

                        

                              

 

                  

            21,542 

             

Minority Interest

                              

                        

                              

 

                  

                        

             

     Total capitalization

                  47,121 

                   (3)

                    2,169 

 

       (2,112)

            47,175 

             

Current liabilities:
 Notes payable - banks
 Notes payable - associated
 Long-term debt - current portion
 Accounts payable
 Accounts payable - affiliates
 Accrued interest
 Accrued income taxes
 Other current liabilities




29 
  1,329 
 529 
  259 
 88 
                      178 




      
    
29 
 
            4 
                          




 
       6 
(14)
 

                            

 





  
(50)


                  



   
29 
   1,335 
  494 
   259 
   92 
                178 

             

     Total current liabilities

                    2,412 

                33 

                       (8)

 

           (50)

              2,387

             

Accumulated deferred income taxes
Deferred investment tax credits
Nuclear decommissioning costs
Deferred credits

  5,927 
    
   
                   1,884 

      
      

                         

893 


                            

 




                  

  6,820 
    
   
              1,884 

 

                    7,811 

                         

                      893 

 

                  

              8,704 

Total Capitalization and Liabilities

$                57,344 

$                   30 

$                 3,054 

 

$     (2,162)

$          58,266 


* Catamount Energy Corporation and associated companies.

- 26 -

           

7 of 8


CENTRAL VERMONT PUBLIC SERVICE CORPORATION
AND ITS SUBSIDIARIES

Consolidated Balance Sheet
Year Ended December 31, 2001
(Dollars in thousands)

 




Eversant
Corporation





AgEnergy, Inc
.



SmartEnergy
Water Heating
Services, Inc.

 

Reclassi-
fying &
Consol-
idating
Entries



Eversant
Corporation
Consolidated

Assets

           
             

Utility plant, at original cost
 Less accumulated depreciation 

     
                        

     
                            


                                  

 


                  

         
                        

 

 

   

     

 

 Construction work in progress

                        

                            

                                  

 

                  

                        

             

Nuclear fuel
 Less accumulated amortization

   
                        


                            


                                  

 


                  


                        

             

     Net utility plant

                        

                            

                                  

 

                  

                        

             

Investments in affiliates,  at equity
  Nuclear generating companies
  Other affiliated companies



                        



                            



                                  

 



                  


  
                        

     Total

                        

                            

                                  

 

                  

                        

             

Nonutility investments

$            3,663 

        

$                      1,500 

 

$     (3,800)

$            1,363 

             

Nonutility property, less accumulated
 depreciation of $3,926 consolidated


                   75 


$                    42  


                       1,198  

 


                  


             1,315  

             

Current assets:
 Cash & Cash Equivalents
 Accounts receivable, less allowance for
  uncollectible accts. $834 consolidated
 Accounts receivable - affiliates
 Unbilled revenue
 Materials and supplies, at average cost
 Prepayments
 Other current assets


  312 

 5 
  365 
  
   
   
                        


      41 

   116 
      63 

      3 

                          


     968 


193 



                           (6)

 





  (229)



                  


  1,321 

  128 
   392 
  
  5 
   6 
                  (6)

     Total current assets

                 682 

                    223

                      1,170 

 

          (229)

              1,846 

             

Regulatory assets and other
 deferred charges


                        


                          


                            8 

 


                  


                    8 

             

     Total Assets

$             4,420

$                   265

$                    3,876 

 

$     (4,029)

$            4,532 

 

 

 

 

 

 

 

 

 

 

- 27 -

           

8 of 8


CENTRAL VERMONT PUBLIC SERVICE CORPORATION
AND ITS SUBSIDIARIES

Consolidated Balance Sheet
Year Ended December 31, 2001
(Dollars in thousands)

 




Eversant
Corporation





AgEnergy, Inc
.



SmartEnergy
Water Heating
Services, Inc.

 

Reclassi-
fying &
Consol-
idating
Entries



Eversant
Corporation
Consolidated

             

Capitalization and Liabilities

           
             

Capitalization:
Common stock
Other paid-in capital
Capital stock expense
Accum. other comprehensive income
Deferred compensation plans
Retained Earnings
Treasury stock


     
 $               12,663 
  
    
    
(9,840)
                              


         
$                 275 



(169)
                        


                 
$                  1,835 



     359 
                              

 


        
 $    (2,110)



 (190)
                  


          
  $        12,663 
  
    
    
  (9,840)
                        

             

     Total common stock equity

                    2,823 

                  106 

                    2,194 

 

       (2,300)

              2,823 

             

Cumulative preferred and preference  stock

           

Return of Capital

                              

                         

                              

 

                  

                        

     Total preferred stock

           
             
             

First Mortgage bonds
Second Mortgage bonds
Notes payable
Capital lease obligations

  
  
 1,500 
                              



    
                          



929 
                              

 



  (1,500)
                  

  
  
 929 
                        

             

     Total long-term debt

                   1,500 

                         

                      929 

 

      (1,500)

                 929 

             

Minority Interest

                            

                        

                             

 

                  

                        

             

     Total capitalization

                   4,323 

                  106 

                  3,123 

 

       (3,800)

              3,752 

             

Current liabilities:
 Notes payable - banks
 Notes payable - associated
 Long-term debt - current portion
 Accounts payable
 Accounts payable - affiliates
 Accrued interest
 Accrued income taxes
 Other current liabilities




   
  41 
 220 
   
   
                      625  




     
    
142 

             
                     17 




196 
       25 
209 


                         7 

 





  
(229)


                  



   
196 
   66 
  342 
   4 
    
                649 

             

     Total current liabilities

                      886 

                   159 

                     441 

 

          (229)

              1,257 

             

Accumulated deferred income taxes
Deferred investment tax credits
Nuclear decommissioning costs
Deferred credits

   (789)
    
   
                              

     
      

                         

312 


                            

 




                 

  (477)
    
   
                       

 

                    (789)

                         

                      312 

 

                 

               (477)

Total Capitalization and Liabilities

$                  4,420 

$                 265 

$                 3,876 

 

$     (4,029)

$            4,532 

 

 

- 28 -

Exhibit A

CENTRAL VERMONT PUBLIC SERVICE CORPORATION
AND ITS SUBSIDIARIES

Notes to Consolidating Financial Statements
For the Year Ended December 31, 2001

Note A - Consolidation:

      The consolidating financial statements include the accounts of Central Vermont Public Service Corporation (CVPS), its wholly-owned subsidiaries, Connecticut Valley Electric Company Inc. (CVEC), C. V. Realty, Inc., and Catamount Resources Corporation (CRC) which compose CVPS consolidated. In addition, for purposes of this SEC Form U-3A-2, the consolidating financial statements include the accounts of CVPS's affiliates, Vermont Electric Power Company, Inc. (VELCO) 56.8 percent owned, Vermont Electric Transmission Company, Inc. (VETCO), a wholly-owned subsidiary of VELCO and Vermont Yankee Nuclear Power Corporation (VY) 31.3 percent owned, which constitutes total consolidated.

      CVPS follows the equity method of accounting for its investments in affiliates. See Note D.

Note B - Income taxes:

      CVPS and its wholly-owned subsidiaries

      The Company records income taxes in accordance with the Financial Accounting Standards Board's (SFAS) No. 109, "Accounting for Income Taxes," requiring an asset and liability approach to determine income tax liabilities. The Standard requires recognition of tax assets and liabilities for the cumulative effect of all temporary differences between financial statement carrying amounts and the tax basis of assets and liabilities.

      A valuation allowance has been recorded, in the amount of $4.0 million to reflect management's best estimate of loss credit carry forwards that will ultimately be utilized. All other deferred income assets are expected to be realized.

      VELCO

      VELCO records income taxes in accordance with SFAS No. 109, "Accounting for Income Taxes," requiring an asset and liability approach to determine income tax liabilities. The Standard requires recognition of tax assets and liabilities for the cumulative effect of all temporary differences between financial statement carrying amounts and the tax basis of assets and liabilities. Under SFAS No. 109, additional deferred tax assets and liabilities resulting from VELCO's transmission billing calculation will be returned to, or collected from, ratepayers in future transmission billings. VELCO expects all deferred income tax assets will be utilized in the future.

      VY

      Vermont Yankee records taxes in accordance with SFAS No. 109, "Accounting for Income Taxes," requiring an asset and liability approach to determine income tax liabilities. The Standard requires recognition of tax assets and liabilities for the cumulative effect of all temporary differences between financial statement carrying amounts and the tax basis of assets and liabilities.

 

 

 

- 29 -

CENTRAL VERMONT PUBLIC SERVICE CORPORATION
AND ITS SUBSIDIARIES

Notes to Consolidating Financial Statements
(continued)

Note C - VETCO:

      VETCO has entered into support agreements in connection with construction of the transmission line with substantially all of the New England electric utilities. The support agreements require the utilities to reimburse VETCO for all operating and capital costs of the transmission line on an unconditional and absolute basis. In return, VETCO has agreed to build, own, operate and maintain the line and to involve itself in no other activities during the term of the agreement, which extends for 30 years from the date of commercial operation of the line. These support agreements also provide for an advisory committee made up of participants to review the operations of VETCO and to make recommendations on major decisions. VETCO is obligated to follow these recommendations to the extent reasonably practical.

      Although, VELCO owns 100 percent of VETCO's outstanding Common Stock, these provisions of the support agreements effectively restrict VELCO's control, VELCO has not consolidated its financial information with that of VETCO and instead is accounting for its investment using the equity method.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

- 30 -

CENTRAL VERMONT PUBLIC SERVICE CORPORATION
AND ITS SUBSIDIARIES

Notes to Consolidating Financial Statements

Note D - Investments in affiliates:

      CVPS accounts for investments in its affiliates by the equity method (dollars in thousands):

 

December 31,
     2001     

Nuclear generating companies
     VY
     Maine Yankee Atomic Power Company
     Connecticut Yankee Atomic Power Company
     Yankee Atomic Electric Company

Other affiliated companies:
     CVEC
     C.V. Realty, Inc.

     CRC
     VELCO:
         Common stock
         Preferred stock

             Total investments - CVPS

     VELCO investment in VETCO

             Total investments

Consolidating eliminations

             Total consolidated


$16,818 
1,257 
1,349 
28 


7,679 
274 

28,851 

3,694 
        678 

60,628 

     1,419 

62,047 

59,413 

  $  2,634 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

- 31 -

CENTRAL VERMONT PUBLIC SERVICE CORPORATION
AND ITS SUBSIDIARIES

Notes to Consolidating Financial Statements

Note E - Common stock:

      The authorized and outstanding common stock for each of the companies was as follows (dollars in thousands):

 

December 31,
     2001     

CVPS:
           Common stock, $6 par value, authorized 19,000,000 shares;
                   Issued 11,785,848 shares; outstanding 11,610,683 shares;
                   Treasury stock, at cost 175,165 shares
CVEC:
           Common stock, $50 par value, authorized 20,000 shares;
                   outstanding 14,000 shares
C.V Realty, Inc.:
           Common stock, $100 par value, authorized 500 shares;
                   outstanding 300 shares

CRC:
           Common stock, $100 par value, authorized 10,000 shares;
                   outstanding 1 share

VELCO:
           Common stock, $100 par value, Class B authorized 92,000
                   shares; outstanding 60,000 shares
VETCO:
           Common stock, $100 par value, authorized and outstanding
                   10 shares
VY:
           Common stock, $100 par value, authorized 400,100 shares;
                   outstanding 400,014 shares
                   Treasury stock, at cost 7,533 shares

                             Total common stock equity

Consolidating eliminations

                             Total consolidated



$ 70,715 
(2,285)


700 


30 



   -   



6,000 





40,002 
      (1,130)

114,033 

45,603 

   $ 68,430 

 

 

 

 

 

 

 

 

 

 

 

- 32 -

CENTRAL VERMONT PUBLIC SERVICE CORPORATION
AND ITS SUBSIDIARIES

Notes to Consolidating Financial Statements

Note F - Preferred and preference stock:

      Cumulative preferred and preference stock outstanding were as follows (dollars in thousands):

 

December 31,
     2001     

CVPS:
           Preferred stock, $100 par value, authorized 500,000 shares
                   Outstanding:
                    4.15% series,  37,856 shares
                    4.65% series,  10,000 shares
                    4.75% series,  17,682 shares
                    5.375% series,  15,000 shares
                    8.30% series,  160,000 shares
           Preferred stock, $25 par value, authorized 1,000,000 shares:
                   outstanding - none
           Preferred stock, $1 par value, authorized 1,000,000 shares:
                   outstanding - none

VELCO:
           Preferred stock, $100 par value, authorized 125,000 shares:
                   outstanding 100,000 shares
           Return of capital

VY:
           Preferred stock, $100 par value, authorized 300,000 shares:
                   outstanding - none

                             Total cumulative preferred and
                               preference stock

Consolidating eliminations

                             Total consolidated




$  3,786 
1,000 
1,768 
1,500 
16,000 

   -   

   -   



10,000 
(8,600)



   -   
                  

25,454 

       (1,400)

    $ 24,054 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

- 33 -

Exhibit B

FINANCIAL DATA SCHEDULE

Item No.

Caption Heading

Amount

1

Total Assets

$1,277,740

2

Total Operating Revenues

$   435,054

3

Net Income

$      2,407

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

- 34 -

Exhibit C

CENTRAL VERMONT PUBLIC SERVICE CORPORATION
(Name of Holding Company)

100%
CATAMOUNT RESOURCES CORPORATION

100%
CATAMOUNT ENERGY CORPORATION

100%
CATAMOUNT
GLENNS
FERRY
CORP.

50%
GLENNS
FERRY
MGMNT.,
INC.

100%
CATAMOUNT
RUPERT
CORP.

. 50%
RUPERT
MGMNT.,
CORP

100%
SUMMERSVILLE
HYDRO
CORP.

100%
GAULEY
RIVER
MGMNT.,
CORP.

33.3%
CATAMOUNT
INVESTMENT
CO., LLC

. 100%
CATAMOUNT
CAMPBELL
HILL CORP

. 100%
CATAMOUNT
THETFORD
CORP

100%
CATAMOUNT
HEARTLANDS
CORP.

100%
CATAMOUNT
HEARTLANDS
CORP.

100%
CATAMOUNT
HEARTLANDS
CORP.

49.5%
GLENNS
FERRY
COGEN.
PARTNERS,
LIMITED

1%
GLENNS
FERRY
COGEN.
PARTNERS,
LIMITED

49.5%
RUPERT
COGEN.
PARTNERS,
LIMITED

1%
RUPERT
COGEN.
PARTNERS,
LIMITED

99%
GAULEY
RIVER
POWER
PARTNERS,
LP

1%
GAULEY
RIVER
POWER
PARTNERS,
LP

 

50%
CAMPBELL
HILL WIND
PARTNERS,
LLC

44.7%
FIBRO-
THETFORD
LIMITED

100%
CATAMOUNT
ENERGY
(GILBRALTAR)
LIMITED

100%
CATAMOUNT
HEARTLANDS
LIMITED

100%
CATAMOUNT
DEVELOPMENT
GMBH

                 

33.3%
CIC LUXEMBOURG
SÀRL

50%
HEARTLANDS
POWER
LIMITED

 
                 

100%
CIC VERWALTUNGS
GMBH

100%
CIC
BETEILIGUNDS
GMBH

 
                   
               

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

- 35 -

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