-----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, Vt9C+gZgVFNwjMvIWPBUB7MyretFcv+29Y83gpthVoHFc+pEGIAtBn0ogwbHEKff ivnKmho+sJ/bdi6+EMuKHw== 0000018808-97-000001.txt : 19970506 0000018808-97-000001.hdr.sgml : 19970506 ACCESSION NUMBER: 0000018808-97-000001 CONFORMED SUBMISSION TYPE: U-3A-2 PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19961231 FILED AS OF DATE: 19970228 SROS: NYSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: CENTRAL VERMONT PUBLIC SERVICE CORP CENTRAL INDEX KEY: 0000018808 STANDARD INDUSTRIAL CLASSIFICATION: 4911 IRS NUMBER: 030111290 STATE OF INCORPORATION: VT FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: U-3A-2 SEC ACT: 1935 Act SEC FILE NUMBER: 069-00065 FILM NUMBER: 97546719 BUSINESS ADDRESS: STREET 1: 77 GROVE ST CITY: RUTLAND STATE: VT ZIP: 05701 BUSINESS PHONE: 8027732711 U-3A-2 1 FORM U-3A-2 Adopted November 9, 1939 File No. 69-65 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM U-3A-2 For the Year Ended December 31, 1996 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: l. 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. CENTRAL VERMONT PUBLIC SERVICE CORPORATION Central Vermont Public Service Corporation ("CVPS"), incorporated under the laws of the State of Vermont and has its principal executive office in Rutland, Vermont. The principal business of the Company is the generation and purchase of electric energy and its transmission, distribution and sale for light, power, heat and other purposes to about 138,000 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 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 interchanges economy and emergency power through the New England Power Pool. 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, and has its principal office in Claremont, New Hampshire. CVEC acquired on December 31, 1949, the business and properties of CVPS 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 about 10,000 customers in Claremont and 12 other towns and villages in New Hampshire. VERMONT ELECTRIC POWER COMPANY, INC. Vermont Electric Power Company, Inc. ("VELCO"), a subsidiary of CVPS which 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 and 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 and therefore VELCO's financial statements have not been consolidated. The Four-Party Agreement continued in full force and effect until May 1995 and was extended for an additional two-year term in May 1995, and every two years thereafter, unless at least ninety (90) days prior to any two-year anniversary any party shall 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. 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 single unit and system power purchases 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 and 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. VERMONT YANKEE NUCLEAR POWER CORPORATION Vermont Yankee Nuclear Power Corporation ("VY"), an affiliate of CVPS which owns 31.3% of its outstanding common stock, $100 Par Value, incorporated under the laws of the State of Vermont and has its principal in Brattleboro, Vermont. Vermont Yankee 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 Vermont Yankee's sponsoring stockholders. C. V. REALTY, INC. C. V. Realty, Inc., incorporated under the laws of the State of Vermont and has its principal 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 - BRADFORD HYDROELECTRIC, INC. Central Vermont Public Service Corporation - Bradford Hydroelectric, Inc., ("Bradford") a wholly owned subsidiary of CVPS was incorporated under the laws of the State of Vermont and had its principal office in Rutland, Vermont. Bradford was formed for the purposes of acquiring and constructing a hydroelectric project having a capacity of 1500 KW in Bradford, Vermont and leasing said project to CVPS. Bradford was dissolved on January 16, 1996. 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 and 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 INVESTMENT CORPORATION Catamount Investment Corporation ("CIC"), incorporated under the laws of the State of Vermont and has its principal office in Rutland, Vermont. Catamount Investment Corporation, a wholly owned subsidiary of CVPS, was formed for the purpose of investing in unregulated business opportunities. SMARTENERGY SERVICES, INC. SmartEnergy Services, Inc. ("SES"), incorporated under the laws of the State of Vermont and has its principal office in Rutland, Vermont. SES is a wholly owned subsidiary of CVPS, was formed for the purpose of engaging in the sale or rental of electric water heaters, energy efficient products and other related goods and services. CV ENERGY RESOURCES, INC. CV Energy Resources, Inc. ("CVER"), incorporated under the laws of the State of Vermont and had its principal office in Rutland, Vermont. CVER was dissolved on December 3, 1996. CVER is a wholly owned subsidiary of CVPS and was formed primarily for the purpose of investing in energy related projects. CATAMOUNT ENERGY CORPORATION Catamount Energy Corporation ("CEC"), incorporated under the laws of the State of Vermont and has its principal office in Rutland, Vermont. CEC is a wholly owned subsidiary of CVPS and was formed primarily for the purpose of investing in energy supply projects. CEC has nine wholly owned subsidiaries: Catamount Rumford Corporation, Equinox Vermont Corporation, Appomattox Vermont Corporation, Catamount Williams Lake, Ltd., Catamount Rupert Corporation, Catamount Glenns Ferry Corporation, Summersville Hydro Corporation, Gauley River Management Corporation and Catamount Thetford Corporation. CATAMOUNT RUMFORD CORPORATION Catamount Rumford Corporation, formerly CV Rumford, Inc., incorporated under the laws of the State of Vermont and has its principal office in Rutland, Vermont. Catamount Rumford Corporation is a wholly owned subsidiary of CEC and is a 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 CEC on the Consolidating Financial Statements. EQUINOX VERMONT CORPORATION Equinox Vermont Corporation, incorporated under the laws of the State of Vermont and has its principal office in Rutland, Vermont. Equinox Vermont Corporation is a wholly owned subsidiary of CEC and is a 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 CEC on the Consolidating Financial Statements. APPOMATTOX VERMONT CORPORATION Appomattox Vermont Corporation, incorporated under the laws of the State of Vermont and has its principal office in Rutland, Vermont. Appomattox Vermont Corporation is a wholly owned subsidiary of CEC and is a limited partner in Appomattox Cogeneration Limited Partnership, a limited partnership that owns a leasehold interest in a coal and wood-fired cogeneration facility located in Hopewell, Virginia. For financial reporting purposes, Appomattox Vermont Corporation's financial data is included with CEC on the Consolidating Financial Statements. CATAMOUNT WILLIAMS LAKE, LTD. Catamount Williams Lake, Ltd., incorporated under the laws of the State of Vermont and has its principal office in Rutland, Vermont. Catamount Williams Lake, Ltd. is a wholly owned subsidiary of CEC and is a limited partner in T.E.S. Williams Lake Limited Partnership, which is a limited partner in NW Energy (Williams Lake) Limited Partnership, which owns a 60 MW wood-fired generating project in Williams Lake, British Columbia, Canada. For financial reporting purposes, Catamount Williams Lake, Ltd.'s financial data is included with CEC on the Consolidating Financial Statements. CATAMOUNT RUPERT CORPORATION Catamount Rupert Corporation, incorporated under the laws of the State of Vermont and has its principal office in Rutland, Vermont. Catamount Rupert Corporation is a wholly owned subsidiary of CEC and was formed for the purpose of owning a 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 CEC on the Consolidating Financial Statements. CATAMOUNT GLENNS FERRY CORPORATION Catamount Glenns Ferry Corporation, incorporated under the laws of the State of Vermont and has its principal office in Rutland, Vermont. Catamount Glenns Ferry Corporation is a wholly owned subsidiary of CEC and is a 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 CEC on the Consolidating Financial Statements. GAULEY RIVER MANAGEMENT CORPORATION Gauley River Management Corporation, incorporated under the laws of the State of Vermont and has its principal office in Rutland, Vermont. Gauley River Management Corporation is a wholly owned subsidiary of CEC and was formed for the purpose of serving as the General Partner in Gauley River Power Partners, L.P., which is developing a small power production hydroelectric facility on the Gauley River, Nicholas County, West Virginia. SUMMERSVILLE HYDRO CORPORATION Summersville Hydro Corporation, incorporated under the laws of the State of Vermont and has its principal office in Rutland, Vermont. Summersville Hydro Corporation is a wholly owned subsidiary of CEC and was formed for the purpose of owning a limited partnership interest in Gauley River Power Partners, L.P. which is developing a small power production hydroelectric facility on the Gauley River, Nicholas County, West Virginia. CATAMOUNT THETFORD CORPORATION Catamount Thetford Corporation, incorporated under the laws of the State of Vermont and has its principal office in Rutland, Vermont. Catamount Thetford Corporation is a wholly owned subsidiary of CEC and was formed for the purpose of owning a limited partnership interest in Fibrowatt Thetford Ltd., which is developing a poultry litter fired power station in Thetford, England designed to produce 38.5 MW. For financial reporting purposes, Catamount Thetford Corporation's financial data is included with CEC on the Consolidating Financial Statements. 2. 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. CENTRAL VERMONT PUBLIC SERVICE CORPORATION CVPS's 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 19 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 613 miles of transmission lines, about 7,257 miles of overhead distribution lines and about 235 miles of underground distribution lines, which are located in Vermont except for about 23 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 (30.486% - 156.7 MW); Maine Yankee Atomic Power Company in Maine (1.7961% - 14.881 MW); Connecticut Yankee Atomic Power Company in Connecticut (2% - 11.6 MW); and Yankee Atomic Electric Company in Massachusetts (3.5% - 6.153 MW). 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 46.08% 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. The electric systems of CVEC include about two miles of transmission lines, about 427 miles of overhead distribution lines and about 11 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 NYPA 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 - BRADFORD HYDROELECTRIC, INC. Electric properties of Bradford consist of a 1500 KW hydroelectric generating station and associated facilities at Bradford, Vermont involving real estate of 10.2 acres. Bradford was dissolved on January 16, 1996. 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. 3. The following information for the last calendar year with respect to claimant and each of its subsidiary public utility companies: (a) Number of KWH of electric energy sold (at retail or wholesale), and Mcf. of natural or manufactured gas distributed at retail. Electric (KWH.) Gas (Mcf.) ________ ___ VY 3,798,790,000 (1) None CVPS 3,476,479,492 (2) None CVEC 162,771,136 None VELCO 863,374,500 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. (b) 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. None (c) 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. Electric (KWH.) (1) Gas (Mcf.) ________ ___ VY None None CVPS 165,208,401 (2) None CVEC None None VELCO None None (1) Deliveries made at the step-up substation at the site. (2) Includes sales to Connecticut Valley Electric Company Inc. and Vermont Electric Power Company, Inc. (d) 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. Electric (KWH.) Gas (Mcf.) ________ ___ VY None None CVPS 325,910,845 None CVEC 129,024,605 None VELCO 614,230,690 None Central Vermont Public Service Corporation - Bradford Hydroelectric, Inc. Bradford leases one hydroelectric generating station, which went into service December 20, 1982 to CVPS. Bradford was dissolved on January 16, 1996. 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. 4. 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: (a) 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. NW Energy (Williams Lake) Limited Partnership, located in Williams Lake, British Columbia, Canada; its business address is at 1710-1066 West Hastings Street, Vancouver, British Columbia, Canada. The facility is a wood waste fired electric generating facility with 60MW (net output). Fibrowatt Thetford Limited, under construction 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. Glenns Ferry Cogeneration Partners, Ltd. located in Glenns Ferry, Idaho; its registered office is 71 Allen Street, Building A, Rutland, Vermont. The facility is a 10MW 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, Building A, Rutland, Vermont. The facility is a 10MW gas fired cogeneration facility placed in operation on November 21, 1996. (b) Name of each system company that holds an interest in such EWG or foreign utility company; and description of the interest held. Central Vermont Public Service Corporation ("the Company") is the holding company system; Catamount Energy Corporation ("CEC") is a wholly owned subsidiary of the Company; Catamount Williams Lake, Ltd. ("Wms Lake") is a wholly owned subsidiary of CEC. Wms Lake is a Limited Partner in T.E.S. Williams Lake Limited Partnership ("T.E.S. LP"). Wms Lake acquired 24.5% of a limited partnership interest in T.E.S. LP, whose sole business is owning a limited partnership interest in NE Energy Williams Lake Limited Partnership ("NW Energy"). NW Energy is a limited partnership formed under and in accordance with the laws of the Province of British Columbia, Canada. The facility will be used for the generation of electric energy exclusively 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 the Company; Catamount Thetford Corporation ("CTC") is a wholly owned subsidiary of CEC. CTC is currently a 7.6% (ultimately 44%) shareholder of Fibrowatt Thetford Limited ("Thetford"), Foster Wheeler Energy Limited is a 5% shareholder; and Fibrowatt Limited is currently an 87.4% (ultimately 51%) shareholder. Thetford is incorporated as a private company limited by shares under the Companies Act 1985. Thetford will construct and operate an electric power station fueled predominantly by poultry litter. Central Vermont Public Service Corporation ("the Company") is the holding company system; Catamount Energy Corporation ("CEC") is a wholly owned subsidiary of the Company; 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 Eastern Power Corporation 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 will be 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 the Company; Catamount Rupert Corporation ("CRC") 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 Eastern Power Corporation owns 50%. CRC 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 will be used for the generation of electric energy for sale at wholesale and steam for sale at wholesale. (c) 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. Indirect Debt or Capital Guarantee Financial Invested of Security Obligation ________ ___________ __________ CATAMOUNT WILLIAMS LAKE, LTD. $ 982,433. None None CATAMOUNT THETFORD $5,252,720. None None CORPORATION CATAMOUNT GLENNS FERRY CORPORATION $1,284,863. None None CATAMOUNT RUPERT CORPORATION $1,615,456. None None (d) Capitalization and earnings of the EWG or foreign utility company during the reporting period. Capitalization Earnings ______________ ________ CATAMOUNT WILLIAMS LAKE, LTD. $91,803,262. $2,560,789. CATAMOUNT THETFORD CORPORATION $26,715,000. $-0- CATAMOUNT GLENNS FERRY CORPORATION $13,649,062. $204,474. CATAMOUNT RUPERT CORPORATION $13,672,830. $172,445. (e) 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). None EXHIBITS 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 1996. Exhibit B is the Financial Data Schedule. Exhibit C is the Organizational chart showing the relationship of each exempt wholesale generator (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 28th day of February 1997. CENTRAL VERMONT PUBLIC SERVICE CORPORATION (Name of Claimant) By: /s/ James M. Pennington James M. Pennington, Controller CORPORATE SEAL Attest: /s/ Carole L. Root Assistant Secretary Name, title, and address of officer to whom notices and correspondence concerning this statement should be addressed: Carole L. Root Assistant Secretary (Name) (Title) Central Vermont Public Service Corporation 77 Grove Street, Rutland, VT 05701 (Address)
Exhibit A CENTRAL VERMONT PUBLIC SERVICE CORPORATION 1 of 2 AND ITS SUBSIDIARIES Consolidating Statement of Income and Retained Earnings Year Ended December 31, 1996 (Dollars in thousands) Consol- idating TOTAL CVPS-CONS VELCO VETCO VY Entries CONS --------- --------- --------- --------- --------- ---------- 56.8% (Note C) 31.3% Owned Owned Operating revenues $290,801 $16,298 $5,717 $181,715 ($68,717) $425,814 --------- --------- --------- --------- --------- ---------- Operating expenses: Operation: Purchased power 154,422 - - - (56,071) 98,351 Production and transmission 20,941 1,507 19 18,810 (12,515) 28,762 Other operation 38,098 4,802 147 76,390 (131) 119,306 Maintenance 14,918 1,693 214 33,216 - 50,041 Depreciation 17,960 4,009 2,440 14,703 - 39,112 Decommissioning expense - - - 12,672 - 12,672 Other taxes, principally property taxes 10,971 2,253 548 9,189 - 22,961 Taxes on income (Note B) 10,216 (577) 501 2,030 - 12,170 --------- --------- --------- --------- --------- ---------- Total operating expenses 267,526 13,687 3,869 167,010 (68,717) 383,375 --------- --------- --------- --------- --------- ---------- Operating income 23,275 2,611 1,848 14,705 - 42,439 Other income and deductions: Equity in earnings of companies not consolidated 3,302 667 - - (3,517) 452 Allowance for equity funds during constru 347 - - 100 - 447 Other income, net 2,647 224 128 4,542 - 7,541 Other taxes (200) - - - - (200) Benefit (provision) for income taxes (4) - - (1,791) - (1,795) --------- --------- --------- --------- --------- ---------- Total operating and other income 29,367 3,502 1,976 17,556 (3,517) 48,884 Net interest expense 9,925 2,286 1,309 10,570 - 24,090 --------- --------- --------- --------- --------- ---------- Net income before minority interest 19,442 1,216 667 6,986 (3,517) 24,794 Minority interest in net income - - - - (5,352) (5,352) --------- --------- --------- --------- --------- ---------- Net income after minority interest 19,442 1,216 667 6,986 (8,869) 19,442 Retained Earnings, January 1 66,422 230 79 845 (1,154) 66,422 --------- --------- --------- --------- --------- ---------- 85,864 1,446 746 7,831 (10,023) 85,864 Cash dividends declared: --------- --------- --------- --------- --------- ---------- Preferred stock 2,028 540 - - (540) 2,028 Common stock 9,699 700 700 6,130 (7,530) 9,699 --------- --------- --------- --------- --------- ---------- Total dividends 11,727 1,240 700 6,130 (8,070) 11,727 --------- --------- --------- --------- --------- ---------- Retained Earnings, December 31 $74,137 $206 $46 $1,701 ($1,953) $74,137 ========= ========= ========= ========= ========= ==========
CENTRAL VERMONT PUBLIC SERVICE CORPORATION 2 of 2 AND ITS SUBSIDIARIES Consolidating Statement of Income and Retained Earnings Year Ended December 31, 1996 (Dollars in thousands) Reclassi- fying & C.V. Consol- Realty, idating CVPS CVEC Inc. SES CEC CIC Entries CVPS-CONS --------- --------- --------- --------- --------- ---------- --------- --------- (Note A) (Note A) (Note A) (Note A) (Note A) Operating revenues $283,106 $18,607 - $1,862 $933 $0 ($13,707) $290,801 --------- --------- --------- --------- --------- ---------- --------- --------- Operating expenses: Operation: Purchased power 150,282 14,676 - - - - (10,536) 154,422 Production and transmission 20,920 21 - - - - - 20,941 Other operation 36,136 2,195 - 929 4,225 62 (5,449) 38,098 Maintenance 14,429 488 - 4 14 - (17) 14,918 Depreciation 17,531 429 3 374 42 - (419) 17,960 Other taxes 10,358 613 - 42 101 - (143) 10,971 Taxes on income (Note B) 10,261 (45) 2 201 (202) (25) 24 10,216 --------- --------- --------- --------- --------- ---------- --------- --------- Total operating expenses 259,917 18,377 5 1,550 4,180 37 (16,540) 267,526 --------- --------- --------- --------- --------- ---------- --------- --------- Operating income (loss) 23,189 230 (5) 312 (3,247) (37) 2,833 23,275 Other income and deductions: Equity in earnings of companies not consolidated 3,977 - - - 4,251 - (4,926) 3,302 Allow. for equity funds during constructi 347 - - - - - - 347 Other income (expenses), net 1,533 35 14 (5) (428) - 1,498 2,647 Other taxes (42) - - - (15) - (143) (200) Benefit (provision) for income taxes (24) (4) - - - - 24 (4) --------- --------- --------- --------- --------- ---------- --------- --------- Total operating and other income (loss) 28,980 261 9 307 561 (37) (714) 29,367 Net interest expense 9,537 333 - - 93 - (38) 9,925 --------- --------- --------- --------- --------- ---------- --------- --------- Net income (loss) 19,443 (72) 9 307 468 (37) (676) 19,442 Retained Earnings, January 1 66,422 1,642 189 (839) 6,328 - (7,320) 66,422 --------- --------- --------- --------- --------- ---------- --------- --------- 85,865 1,570 198 (532) 6,796 (37) (7,996) 85,864 Cash dividends declared: --------- --------- --------- --------- --------- ---------- --------- --------- Preferred stock 2,028 - - - - - - 2,028 Common stock 9,699 - - - - - - 9,699 --------- --------- --------- --------- --------- ---------- --------- --------- Total dividends 11,727 - - - 11,727 --------- --------- --------- --------- --------- ---------- --------- --------- Retained Earnings, December 31 $74,138 $1,570 $198 ($532) $6,796 ($37) ($7,996) $74,137 ========= ========= ========= ========= ========= ========== ========= =========
Exhibit A CENTRAL VERMONT PUBLIC SERVICE CORPORATION 1 of 4 AND ITS SUBSIDIARIES Consolidating Balance Sheet Year Ended December 31, 1996 (Dollars in thousands) Consol- idating TOTAL CVPS-Cons VELCO VETCO VY Entries CONS --------- --------- --------- --------- --------- ---------- 56.8% (Note C) 31.3% Owned Owned Assets ------- Utility plant, at original cost $461,231 $96,035 $47,777 $390,408 - $995,451 Less accumulated depreciation 146,539 49,426 25,098 238,116 - 459,179 --------- --------- --------- --------- --------- ---------- 314,692 46,609 22,679 152,292 - 536,272 Construction work in progress 9,302 - - - - 9,302 --------- --------- --------- --------- --------- ---------- 323,994 46,609 22,679 152,292 - 545,574 Nuclear fuel 7,093 - - 398,183 - 405,276 Less accumulated amortization 6,146 - - 370,846 - 376,992 --------- --------- --------- --------- --------- ---------- Net utility plant 324,941 46,609 22,679 179,629 - 573,858 --------- --------- --------- --------- --------- ---------- Investments in affiliates, at equity (Note D) Nuclear generating companies 21,368 - - - (17,017) 4,351 Other affiliated companies 5,262 3,746 - - (9,008) - --------- --------- --------- --------- --------- ---------- Total 26,630 3,746 - - (26,025) 4,351 --------- --------- --------- --------- --------- ---------- Nonutility investments 27,823 - - - - 27,823 --------- --------- --------- --------- --------- ---------- Nonutility property, less accumulated depreciation of $3,664 consolidated 4,498 - - - - 4,498 --------- --------- --------- --------- --------- ---------- Current assets: Cash & Cash Equivilents 6,365 162 83 1,109 - 7,719 Accounts receivable, less allowance for uncollectible accts. $1,132 consolidate 21,286 11,049 - 10,912 - 43,247 Accounts receivable - affiliates 592 6,940 3 4,665 (12,200) - Unbilled revenue 11,673 133 - - - 11,806 Materials and supplies, at average cost 3,690 1,624 103 17,433 - 22,850 Prepayments 2,423 135 4 4,468 - 7,030 Other current assets 9,473 2,048 1 - - 11,522 --------- --------- --------- --------- --------- ---------- Total current assets 55,502 22,091 194 38,587 (12,200) 104,174 --------- --------- --------- --------- --------- ---------- Regulatory assets and other deferred charge 63,574 1,619 788 322,246 - 388,227 --------- --------- --------- --------- --------- ---------- Total Assets $502,968 $74,065 $23,661 $540,462 ($38,225) $1,102,931 ========= ========= ========= ========= ========= ==========
CENTRAL VERMONT PUBLIC SERVICE CORPORATION AND ITS SUBSIDIARIES 2 of 4 Consolidating Balance Sheet Year Ended December 31, 1996 (Dollars in thousands) Consol- idating TOTAL CVPS-CONS VELCO VETCO VY Entries CONS --------- --------- --------- --------- --------- ---------- 56.8% (Note C) 31.3% Capitalization and Liabilities Owned Owned ------------------------------ Capitalization: Common stock (Note E) $70,715 $6,000 $1 $40,001 ($46,002) $70,715 Other paid-in capital 47,189 - 3,699 14,226 (7,804) 57,310 Capital stock expense (1,916) - - - - (1,916) Treasury stock, at cost (Note E) (3,656) - - (1,130) - (4,786) Retained earnings 74,137 206 46 1,700 (1,952) 74,137 --------- --------- --------- --------- --------- ---------- Total common stock equity 186,469 6,206 3,746 54,797 (55,758) 195,460 --------- --------- --------- --------- --------- ---------- Cumulative preferred and preference stock (Note F) 28,054 10,000 - - (10,000) 28,054 Return of Capital - (6,300) - - 6,300 - --------- --------- --------- --------- --------- ---------- Total preferred stock 28,054 3,700 - - (3,700) 28,054 --------- --------- --------- --------- --------- ---------- First Mortgage bonds 97,000 26,969 - 75,845 - 199,814 Notes payable 20,374 - 10,520 - - 30,894 Other long-term debt - 204 - 4,182 - 4,386 Long-Term lease arrangements 18,304 - - - - 18,304 --------- --------- --------- --------- --------- ---------- Total long-term debt 135,678 27,173 10,520 80,027 - 253,398 --------- --------- --------- --------- --------- ---------- Minority interest - - - - 33,433 33,433 --------- --------- --------- --------- --------- ---------- Total capitalization 350,201 37,079 14,266 134,824 (26,025) 510,345 --------- --------- --------- --------- --------- ---------- Current liabilities: Notes payable - banks 5,750 6,950 2,150 - - 14,850 Long-term debt - current portion 3,015 4,196 2,060 - - 9,271 Accounts payable 4,974 17,215 113 2,548 - 24,850 Accounts payable - affiliates 11,567 579 31 23 (12,200) - Accrued interest 554 397 42 1,499 - 2,492 Accrued income taxes 2,552 223 100 1,404 - 4,279 Other current liabilities 24,137 112 - 25,897 - 50,146 --------- --------- --------- --------- --------- ---------- Total current liabilities 52,549 29,672 4,496 31,371 (12,200) 105,888 --------- --------- --------- --------- --------- ---------- Accumulated deferred income taxes 57,463 942 3,116 21,854 - 83,375 Deferred investment tax credits 7,612 724 1,189 5,509 - 15,034 Accrued decommissioning costs - - - 204,991 - 204,991 Regulatory Liabilities and other deferred c 35,143 5,648 594 141,913 - 183,298 --------- --------- --------- --------- --------- ---------- 100,218 7,314 4,899 374,267 - 486,698 --------- --------- --------- --------- --------- ---------- Total Capitalization and Liabilities $502,968 $74,065 $23,661 $540,462 ($38,225) $1,102,931 ========= ========= ========= ========= ========= ==========
CENTRAL VERMONT PUBLIC SERVICE CORPORATION 3 of 4 AND ITS SUBSIDIARIES Consolidating Balance Sheet Year Ended December 31, 1996 (Dollars in thousands) C.V. Consol- Realty idating CVPS CVEC Inc. SES CEC CIC Entries CVPS-CONS --------- --------- --------- --------- --------- ---------- --------- --------- (Note A) (Note A) (Note A) (Note A) (Note A) Assets ------ Utility plant, at original cost $448,776 $12,455 - - - - - $461,231 Less accumulated depreciation 142,503 4,036 - - - - 146,539 --------- --------- --------- --------- --------- ---------- --------- --------- 306,273 8,419 - - - - - 314,692 Construction work in progress 8,882 420 - - - - - 9,302 --------- --------- --------- --------- --------- ---------- --------- --------- 315,155 8,839 - - - - - 323,994 Nuclear fuel 7,093 - - - - - - 7,093 Less accumulated amortization 6,146 - - - - - - 6,146 --------- --------- --------- --------- --------- ---------- --------- --------- Net utility plant 316,102 8,839 - - - - - 324,941 --------- --------- --------- --------- --------- ---------- --------- --------- Investments in affiliates, at equity (Note D) Nuclear generating companies 21,368 - - - - - - 21,368 Other affiliated companies 38,995 - - - - - (33,733) 5,262 --------- --------- --------- --------- --------- ---------- --------- --------- Total 60,363 - - - - - (33,733) 26,630 --------- --------- --------- --------- --------- ---------- --------- --------- Nonutility investments - - - - 27,823 - - 27,823 --------- --------- --------- --------- --------- ---------- --------- --------- Nonutility property, less accumulated depreciation of $20 parent company and $3,664 consolidated 1,928 - 41 1,988 541 - - 4,498 --------- --------- --------- --------- --------- ---------- --------- --------- Current assets: Cash & Cash Equivilents 2,247 150 228 393 3,276 71 6,365 Accounts receivable, less allowance for - uncollectible accounts $1,062 parent company and $1,132 consolidated 18,258 2,473 - 6 549 - - 21,286 Accounts receivable - affiliates 4,043 45 56 159 106 12 (3,829) 592 Unbilled revenue 11,360 313 - - - - - 11,673 Materials and supplies, at average cost 3,671 - - 19 - - - 3,690 Prepayments 2,305 99 - - 19 - - 2,423 Other current assets 4,136 14 - - 5,323 - - 9,473 --------- --------- --------- --------- --------- ---------- --------- --------- Total current assets 46,020 3,094 284 577 9,273 83 (3,829) 55,502 --------- --------- --------- --------- --------- ---------- --------- --------- Regulatory assets and other deferred charge 63,263 311 - - - - - 63,574 --------- --------- --------- --------- --------- ---------- --------- --------- Total Assets $487,676 $12,244 $325 $2,565 $37,637 $83 ($37,562) $502,968 ========= ========= ========= ========= ========= ========== ========= =========
CENTRAL VERMONT PUBLIC SERVICE CORPORATION 4 of 4 AND ITS SUBSIDIARIES Consolidating Balance Sheet Year Ended December 31, 1996 (Dollars in thousands) CV CONSOL- REALTY IDATING CVPS CVEC INC SES CEC CIC ENTRIES CVPS-CONS --------- --------- --------- --------- --------- ---------- --------- --------- (Note A) (Note A) (Note A) (Note A) (Note A) Capitalization and Liabilities ------------------------------ Capitalization: Common stock (Note E) $70,715 $700 $30 - - - ($730) $70,715 Other paid-in capital 47,189 1,250 - 2,623 21,015 120 (25,008) 47,189 Capital stock expense (1,916) - - - - - - (1,916) Retained earnings 74,136 1,570 198 (532) 6,797 (37) (7,995) 74,137 Treasury stock (Note E) (3,656) - - - - - - (3,656) --------- --------- --------- --------- --------- ---------- --------- --------- Total common stock equity 186,468 3,520 228 2,091 27,812 83 (33,733) 186,469 --------- --------- --------- --------- --------- ---------- --------- --------- Cumulative preferred and preference stock (Note F) 28,054 - - - - - - 28,054 --------- --------- --------- --------- --------- ---------- --------- --------- First Mortgage bonds 97,000 - - - - - - 97,000 Notes payable 16,300 3,750 - - 324 - - 20,374 Long-term lease arrangements 18,304 - - - - - - 18,304 --------- --------- --------- --------- --------- ---------- --------- --------- Total long-term debt 131,604 3,750 - - 324 - - 135,678 --------- --------- --------- --------- --------- ---------- --------- --------- Total capitalization 346,126 7,270 228 2,091 28,136 83 (33,733) 350,201 --------- --------- --------- --------- --------- ---------- --------- --------- Current liabilities: Notes payable - banks 5,200 550 - - - - - 5,750 Long-term debt - current portion 3,000 - - - 15 - - 3,015 Accounts payable 3,817 617 - 52 488 - - 4,974 Accounts payable - affiliates 11,939 2,238 97 57 1,065 - (3,829) 11,567 Accrued interest 549 4 - - 1 - - 554 Accrued Income taxes 2,514 - - - 38 - - 2,552 Other current liabilities 23,663 359 - 22 93 - - 24,137 --------- --------- --------- --------- --------- ---------- --------- --------- Total current liabilities 50,682 3,768 97 131 1,700 - (3,829) 52,549 --------- --------- --------- --------- --------- ---------- --------- --------- Accumulated deferred income taxes 48,422 983 - 343 7,715 - - 57,463 Deferred investment tax credits 7,511 101 - - - - - 7,612 Deferred credits 34,935 122 - - 86 - - 35,143 --------- --------- --------- --------- --------- ---------- --------- --------- 90,868 1,206 - 343 7,801 - - 100,218 --------- --------- --------- --------- --------- ---------- --------- --------- Total Capitalization and Liabilities $487,676 $12,244 $325 $2,565 $37,637 $83 ($37,562) $502,968 ========= ========= ========= ========= ========= ========== ========= =========
Exhibit A CENTRAL VERMONT PUBLIC SERVICE CORPORATION AND ITS SUBSIDIARIES Notes to Consolidating Financial Statements For the Year Ended December 31, 1996 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., SmartEnergy Services, Inc. (SES), Catamount Energy Corporation (CEC), and Catamount Investment Corporation (CIC) 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% owned, Vermont Electric Transmission Company, Inc. (VETCO), a wholly owned subsidiary of VELCO and Vermont Yankee Nuclear Power Corporation (VY) 31.3% 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 not been recorded, as the Company expects all deferred income tax assets will be utilized in the future. 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. CENTRAL VERMONT PUBLIC SERVICE CORPORATION AND ITS SUBSIDIARIES Notes to Consolidating Financial Statements (continued) 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. Note C-VETCO: Vermont Electric Transmission Company, Inc. (VETCO) was incorporated in 1982, and is a wholly owned subsidiary of Vermont Electric Power Company, Inc. VETCO was formed to construct, own and operate the Vermont portion of a high voltage transmission line connecting the electric system of New England with that of Hydro-Quebec, a Canadian utility. 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. Because 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.
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, 1996 ------------ Nuclear generating companies VY $17,017 Maine Yankee Atomic Power Company 1,420 Connecticut Yankee Atomic Power Company 2,123 Yankee Atomic Electric Company 808 Other affiliated companies: CVEC 3,520 C. V. Realty, Inc. 228 SES 2,091 CEC 27,812 CIC 82 VELCO: Common stock 3,508 Preferred stock 1,754 ------- Total investments - CVPS 60,363 VELCO investment in VETCO 3,746 ------- Total investments 64,109 Consolidating eliminations 59,758 ------- Total consolidated $ 4,351 =======
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, 1996 ------------ CVPS: Common stock, $6 par value, authorized 19,000,000 shares; outstanding 11,785,848 shares $ 70,715 Treasury stock, at cost 266,100 shares (3,656) CVEC: Common stock, $50 par value, authorized 20,000 shares; outstanding 14,000 shares 700 C. V. Realty, Inc.: Common stock, $100 par value, authorized 500 shares; outstanding 300 shares 30 SES: Common stock, $1 par value, authorized 10,000 shares; outstanding 1 share - CIC: Common stock, $100 par value, authorized 10,000 shares; outstanding 1 share - CEC: Common stock, $1 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 6,000 VETCO: Common stock, $100 par value, authorized and outstanding 10 shares 1 VY: Common stock, $100 par value, authorized 400,100 shares; outstanding 400,014 shares 40,001 Treasury stock, at cost 7,533 shares (1,130) -------- Total common stock equity 112,661 Consolidating eliminations 46,732 -------- Total consolidated $ 65,929 ========
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, 1996 ------------ CVPS: Preferred stock, $100 par value, authorized 500,000 shares Outstanding: 4.15% series, 37,856 shares $ 3,786 4.65% series, 10,000 shares 1,000 4.75% series, 17,682 shares 1,768 5.375% series, 15,000 shares 1,500 8.30% series, 200,000 shares 20,000 Preferred stock, $25 par value, authorized 1,000,000 shares; outstanding - none - Preference 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 10,000 Return of capital (6,300) VY: Preferred stock, $100 par value, authorized 300,000 shares; outstanding - none - -------- Total cumulative preferred and preference stock 31,754 Consolidating eliminations 3,700 -------- Total consolidated $ 28,054 ========
EXHIBIT C Organizational chart showing the relationship of each EWG to associate companies in the holding-company system.
CENTRAL VERMONT PUBLIC SERVICE CORPORATION (Name of Holding Company) 100% CATAMOUNT ENERGY CORPORATION 100% 100% 100% 50% 100% 50% CATAMOUNT CATAMOUNT CATAMOUNT GLENNS CATAMOUNT RUPERT WILLIAMS THETFORD GLENNS FERRY RUPERT MGMNT., LAKE, LTD. CORP. FERRY MGMNT., CORP. INC. CORP. INC. 24.5% 44% 49.5% 1% 49.5% 1% T.E.S. FIBROWATT GLENNS GLENNS RUPERT RUPERT WILLIAMS THETFORD FERRY FERRY COGEN. COGEN. LAKE, LTD. LTD. COGEN. COGEN. PARTNERS, PARTNERS PARTNERS, PARTNERS, LTD. LTD. LTD. LTD. 33% NW ENERGY WILLIAMS LAKE L.P.
EX-27 2 FORM U-3A-2 FINANCIAL DATA SCHEDULE
OPUR3 1,000 YEAR DEC-31-1996 DEC-31-1996 PER-BOOK 1,102,931 425,814 19,442
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