-----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, Eo8PiCHjfImKQO2eWqJ66nLcdvfLZ8SQOk+KPMOPXyiQrffXyo/Q/4MWUR9Nsug7 nLmnmJnDLyRDglZAesVMjw== 0000310103-97-000005.txt : 19970303 0000310103-97-000005.hdr.sgml : 19970303 ACCESSION NUMBER: 0000310103-97-000005 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: CONNECTICUT ENERGY CORP CENTRAL INDEX KEY: 0000310103 STANDARD INDUSTRIAL CLASSIFICATION: NATURAL GAS DISTRIBUTION [4924] IRS NUMBER: 060869582 STATE OF INCORPORATION: CT FISCAL YEAR END: 1130 FILING VALUES: FORM TYPE: U-3A-2 SEC ACT: 1935 Act SEC FILE NUMBER: 069-00244 FILM NUMBER: 97546639 BUSINESS ADDRESS: STREET 1: 855 MAIN STREET CITY: BRIDGEPORT STATE: CT ZIP: 06604 BUSINESS PHONE: 2033828111 MAIL ADDRESS: STREET 1: 855 MAIN ST CITY: BRIDGEPORT STATE: CT ZIP: 06604 U-3A-2 1 File No. 69-244 ------ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D. C. FORM U-3A-2 Statement by Holding Company Claiming Exemption Under Rule U-3A-2 from the Provisions of the Public Utility Holding Company Act of 1935 To Be Filed Annually Prior to March 1 CONNECTICUT ENERGY 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(a) The name, State of organization, location and nature of business of the claimant and every subsidiary thereof, other than any exempt wholesale generator ("EWG") or foreign utility company in which the claimant directly or indirectly holds an interest are as follows: The name of the claimant is Connecticut Energy Corporation (the "claimant"). The claimant is incorporated under the laws of the State of Connecticut. Its principal place of business and executive offices are located at 855 Main Street, Bridgeport, Connecticut 06604. The claimant is not an operating company. The business of the claimant consists of investing in, disposing of, buying, selling and otherwise dealing in the stock, bonds, securities and properties of the other corporations listed below in 1(b). 1(b) The name, State of organization, location and nature of business of every subsidiary of the claimant thereof, other than any EWG or foreign utility company in which the claimant directly or indirectly holds an interest are as follows: (i) The Southern Connecticut Gas Company ("Southern"). Southern is incorporated under the laws of the State of Connecticut and has its executive offices located at 855 Main Street, Bridgeport, Connecticut 06604. Southern is principally engaged in the retail distribution and sale of natural gas for domestic, commercial and industrial uses in southern Connecticut, primarily in the New Haven and Bridgeport areas. Incidental to the sale of gas, Southern sells gas water heaters and space heaters. Southern is subject to the jurisdiction of the Connecticut Department of Public Utility Control as to accounting, rates, charges, certain operating matters and the issuance of securities other than borrowings maturing in twelve months or less. (ii) CNE Development Corporation ("CNE Development"). CNE Development, formerly known as Connecticut Energy Development Corporation, is incorporated under the laws of the State of Connecticut and has its executive offices located at 855 Main Street, Bridgeport, Connecticut 06604. CNE Development was formed in December 1994 and is participating as an equity holder in an entity formed to purchase and market natural gas and may potentially participate in other nonregulated activities. (iii) CNE Energy Services Group, Inc. ("CNE Energy"). CNE Energy is incorporated under the laws of the State of Connecticut and has its executive offices located at 855 Main Street, Bridgeport, Connecticut 06604. CNE Energy was formed in August 1995 and engages in nonregulated activities relating to the selling, planning, purchasing and management of various energy services to commercial and industrial end users. (iv) CNE Venture-Tech, Inc. ("CNE Venture-Tech") is incorporated under the laws of the State of Connecticut and has its executive offices located at 855 Main Street, Bridgeport, Connecticut 06604. CNE Venture-Tech is a nonregulated subsidiary which was formed in October 1996 and is expected to participate or invest in information technology ventures including, but not limited to, providing related services. It is anticipated that CNE Venture-Tech will enter into strategic alliances with other vendors in the information technology business to provide services to utilities and other businesses. 2. A brief description of the properties of the claimant and its subsidiary public utility company is as follows: (a) The claimant -- The claimant has no properties other than the common stock of the subsidiaries described above in 1(b). (b) Southern -- A major portion of Southern's physical assets consists of gas distribution facilities. As of December 31, 1996, Southern had 2,114 miles of main and 122,160 service connections. Southern leases its corporate headquarters building in Bridgeport and leases an operating facility in Orange. It also owns a propane air facility in Trumbull and certain properties in Bridgeport and New Haven that were formerly utilized as operating facilities. Southern leases an LNG plant in Milford. All of such assets of Southern are located in the State of Connecticut. Substantially all of Southern's utility properties and plant are subject to the lien of the indenture and supplemental indentures securing its first mortgage bonds. Southern has no producing field, gas manufacturing plants or pipelines which receive gas at the Connecticut border. 3. During the last calendar year and to date, only Southern has been an operating public utility company, and the following information, therefore, relates to it alone: (a) During the calendar year 1996, Southern sold 32,981,867 MCF of natural or manufactured gas at retail. (b) None (c) During the calendar year 1996, Southern sold 2,784,368 MCF of natural or manufactured gas outside Connecticut or at the Connecticut border. (d) During the calendar year 1996, Southern purchased 35,376,241 MCF of natural or manufactured gas outside Connecticut or at the Connecticut border. 4. The following information for the reporting period with respect to the claimant and each interest it holds directly or indirectly in an EWG or foreign utility company, stating monetary amounts in United States dollars: (a) None (b) None (c) None (d) None (e) None EXHIBIT A Attached as Exhibit A is a consolidating statement of income and surplus of the claimant and its subsidiary companies for calendar year 1996, together with a consolidating balance sheet of the claimant and its subsidiary companies as of the close of such calendar year. EXHIBIT B Financial Data Schedule Submitted only in electronic format to the Securities and Exchange Commission. EXHIBIT C An organizational chart showing the relationship of each EWG or foreign utility company to associate companies in the holding-company system. Not applicable. The above-named claimant has caused this statement to be duly executed on its behalf by its authorized officer on this 26th day of February, 1997. CONNECTICUT ENERGY CORPORATION ------------------------------ (Name of Claimant) By /s/ Vincent L. Ammann, Jr. -------------------------------------- Vincent L. Ammann, Jr., Vice President and Chief Accounting Officer (Corporate Seal) Attest: /s/ Carol A. Forest - ----------------------------------------- Carol A. Forest, Vice President, Finance, Chief Financial Officer and Treasurer Name, title and address of officer to whom notices and correspondence concerning this statement should be addressed: Vincent L. Ammann, Jr., Vice President and Chief Accounting Officer - ------------------------------------------------------------------- (Name) (Title) Connecticut Energy Corporation, 855 Main Street, Bridgeport, Connecticut - ------------------------------------------------------------------------ 06604 - ----- (Address) CONSOLIDATING INCOME STATEMENT DECEMBER 31, 1996 (UNAUDITED)
EXHIBIT A THE CNE SOUTHERN CNE CNE ENERGY ADJUSTMENTS/ CONNECTICUT VENTURE-TECH, DEVELOPMENT SERVICES CEC ELIMINATIONS TOTAL ACCOUNT DESCRIPTION GAS COMPANY INC. CORPORATION GROUP, INC. HOLDING DEBIT CREDIT CEC ___________________________________________________________________________________________________________________________________ OPERATING REVENUES $266,191,760 $266,191,760 PURCHASED GAS 144,444,212 144,444,212 ___________________________________________________________________________________________________________________________________ GROSS INCOME 121,747,548 121,747,548 OPERATING EXPENSES OPERATIONS 48,533,415 $ 1,508 $ 19,287 $ 3,857 $111,665 48,669,732 MAINTENANCE 3,650,803 3,650,803 DEPRECIATION/AMORTIZATION 14,926,074 14,926,074 TAXES OTHER THAN INCOME 17,289,737 17,289,737 STATE TAXES - CURRENT 1,495,610 250 250 4,824 1,500,934 FEDERAL INCOME TAXES - CURRENT 4,399,391 12,992 4,412,383 FEDERAL INCOME TAXES - DEFERRED 1,875,303 1,875,303 ___________________________________________________________________________________________________________________________________ TOTAL OPERATING EXPENSES 92,170,333 1,508 19,537 4,107 129,481 92,324,966 OPERATING INCOME 29,577,215 (1,508) (19,537) (4,107) (129,481) 29,422,582 ALLOWANCE FOR FUNDS DURING CONSTRUCTION/EQUITY EARNINGS 145,632 7,910 (208,721) (55,179) OTHER INCOME, NET (382,740) (67,959) 153,609 $159,900 $ 15,156 (441,834) LEASED LAND INCOME 15,156 15,156 0 ___________________________________________________________________________________________________________________________________ TOTAL INCOME 29,355,263 (1,508) (11,627) (280,787) 24,128 175,056 15,156 28,925,569 INCOME DEDUCTIONS INTEREST ON LONG-TERM DEBT & AMORTIZATION 11,444,462 11,444,462 OTHER INTEREST, NET 1,911,234 159,900 1,751,334 MISCELLANEOUS INCOME DEDUCTIONS 184,690 184,690 ___________________________________________________________________________________________________________________________________ TOTAL INCOME DEDUCTIONS 13,540,386 159,900 13,380,486 NET INCOME TO COMMON $ 15,814,877 $(1,508) $(11,627) $(280,787) $ 24,128 $175,056 $175,056 $ 15,545,083 ============ ======= ======== ========= ======== ======== ======== ============
CONNECTICUT ENERGY CORPORATION CONSOLIDATING BALANCE SHEET DECEMBER 31, 1996 (UNAUDITED)
EXHIBIT A THE CNE SOUTHERN CNE CNE ENERGY ADJUSTMENTS/ CONNECTICUT VENTURE-TECH, DEVELOPMENT SERVICES CEC ELIMINATIONS TOTAL ACCOUNT DESCRIPTION GAS COMPANY INC. CORPORATION GROUP, INC. HOLDING DEBIT CREDIT CEC ________________________________________________________________________________________________________________________________ ASSETS UTILITY PLANT INTANGIBLES $ 140,692 $ 140,692 PRODUCTION 2,110,867 2,110,867 STORAGE 6,892,040 6,892,040 DISTRIBUTION 340,958,766 340,958,766 GENERAL 25,845,169 25,845,169 ________________________________________________________________________________________________________________________________ SUBTOTAL 375,947,534 375,947,534 CONSTRUCTION WORK IN PROGRESS 4,731,933 4,731,933 NONUTILITY PROPERTY 2,752,005 $ 103,592 2,855,597 ________________________________________________________________________________________________________________________________ TOTAL PP&E 383,431,472 103,592 383,535,064 LESS: ACCUMULATED DEPRECIATION 120,964,571 15,118 120,979,689 ________________________________________________________________________________________________________________________________ NET PP&E 262,466,901 88,474 262,555,375 CURRENT ASSETS CASH 786,481 $20,472 186,782 $ 4,801,687 5,795,422 ACCOUNTS RECEIVABLE: TRADE 47,462,589 47,462,589 OTHER 1,012,157 93,874 178,469 1,284,500 INTERCOMPANY 128,940 347 7,530 $ 136,817 0 ________________________________________________________________________________________________________________________________ SUBTOTAL 48,603,686 94,221 185,999 136,817 48,747,089 LESS: BAD DEBT ALLOWANCE 2,641,292 2,641,292 ________________________________________________________________________________________________________________________________ NET ACCOUNTS RECEIVABLE 45,962,394 94,221 185,999 136,817 46,105,797 UNBILLED REVENUES 8,720,477 8,720,477 UNRECOVERED PURCHASED GAS COSTS 7,235,442 7,235,442 FUEL STOCK 15,276,041 15,276,041 PREPAID EXPENSES 1,792,226 1,792,226 ________________________________________________________________________________________________________________________________ TOTAL CURRENT ASSETS 79,773,061 20,472 281,003 4,987,686 136,817 84,925,405 OTHER ASSETS INVESTMENT IN SUBSIDIARIES AND OTHER ASSETS 57,910 1,831,279 96,648,477 96,648,477 1,889,189 UNAMORTIZED DEBT EXPENSE 6,183,309 6,183,309 OTHER DEFERRED DEBITS 76,827,046 484 106,421 364,142 $62,811 77,360,904 ________________________________________________________________________________________________________________________________ TOTAL OTHER ASSETS 83,010,355 58,394 1,937,700 97,012,619 62,811 96,648,477 85,433,402 TOTAL ASSETS $425,250,317 $0 $78,866 $2,307,177 $102,000,305 $62,811 $96,785,294 $432,914,182 ============ == ======= ========== ============ ======= =========== ============
CONNECTICUT ENERGY CORPORATION CONSOLIDATING BALANCE SHEET DECEMBER 31, 1996 (UNAUDITED)
EXHIBIT A THE CNE SOUTHERN CNE CNE ENERGY ADJUSTMENTS/ CONNECTICUT VENTURE-TECH, DEVELOPMENT SERVICES CEC ELIMINATIONS TOTAL ACCOUNT DESCRIPTION GAS COMPANY INC. CORPORATION GROUP, INC. HOLDING DEBIT CREDIT CEC ____________________________________________________________________________________________________________________________________ CAPITALIZATION COMMON STOCK $ 18,760,951 $ 1,000 $ 1,000 $ 9,044,437 $ 18,762,951 $ 9,044,437 CAPITAL STOCK EXPENSE (705,066) (3,286,766) (3,991,832) CAPITAL IN EXCESS OF PAR VALUE 70,799,637 100,000 2,499,000 103,963,469 81,706,854 95,655,252 RETAINED EARNINGS 44,555,658 $(1,508) (24,422) (276,930) (7,771,688) $3,821,328 40,302,438 _________________________________________________________________________________________________________________________________ SUBTOTAL 133,411,180 (1,508) 76,578 2,223,070 101,949,452 100,469,805 3,821,328 141,010,295 LONG-TERM DEBT 138,727,500 138,727,500 _________________________________________________________________________________________________________________________________ TOTAL CAPITALIZATION 272,138,680 (1,508) 76,578 2,223,070 101,949,452 100,469,805 3,821,328 279,737,795 CURRENT LIABILITIES SHORT-TERM BORROWINGS 37,100,000 37,100,000 CURRENT PORTION OF LONG-TERM DEBT 594,500 594,500 ACCOUNTS PAYABLE 19,506,300 19,506,300 REFUNDS DUE CUSTOMERS 156,593 156,593 FEDERAL CORPORATE TAXES 4,328,935 1,414 4,330,349 STATE CORPORATE TAXES 1,051,828 525 1,052,353 PROPERTY TAXES 4,138,081 4,138,081 OTHER ACCRUED TAXES 3,700,915 3,700,915 ACCOUNTS PAYABLE-INTERCOMPANY 1,508 2,288 84,107 48,914 136,817 0 INTEREST PAYABLE 2,886,467 2,886,467 OTHER ACCRUED LIABILITIES 4,131,234 4,131,234 CUSTOMERS' DEPOSITS 1,955,509 1,955,509 _________________________________________________________________________________________________________________________________ TOTAL CURRENT LIABILITIES 79,550,362 1,508 2,288 84,107 50,853 136,817 79,552,301 OTHER LIABILITIES DEFERRED FEDERAL INCOME TAXES 63,186,621 63,186,621 DEFERRED INVESTMENT TAX CREDITS 3,195,632 3,195,632 OTHER 7,179,022 62,811 7,241,833 _________________________________________________________________________________________________________________________________ TOTAL OTHER LIABILITIES 73,561,275 62,811 73,624,086 TOTAL CAPITALIZATION & LIABILITIES $425,250,317 $ 0 $78,866 $2,307,177 $102,000,305 $100,606,622 $3,884,139 $432,914,182 ============ ====== ======= ========== ============ ============ ========== ============
CONNECTICUT ENERGY CORPORATION CONSOLIDATING STATEMENT OF CHANGES IN RETAINED EARNINGS (UNAUDITED)
EXHIBIT A THE CNE SOUTHERN CNE CNE ENERGY CONNECTICUT CONNECTICUT VENTURE-TECH, DEVELOPMENT SERVICES ENERGY ADJUSTMENTS/ GAS COMPANY INC. CORPORATION GROUP, INC. CORPORATION ELIMINATIONS CONSOLIDATED ____________________________________________________________________________________________________________________________________ BALANCE - DECEMBER 31, 1995 $40,602,394 $(12,795) $ 3,857 $(7,869,299) $3,821,328 $36,545,485 ADD: NET INCOME 15,814,877 $(1,508) (11,627) (280,787) 24,128 15,545,083 LESS: COMMON STOCK DIVIDENDS 11,861,613 (73,483) 11,788,130 ____________________________________________________________________________________________________________________________________ BALANCE - DECEMBER 31, 1996 $44,555,658 $(1,508) $(24,422) $(276,930) $(7,771,688) $3,821,328 $40,302,438 =========== ======= ======== ========= =========== ========== ===========
EX-27 2
OPUR3 1,000 YEAR SEP-30-1996 JAN-01-1996 DEC-31-1996 PER-BOOK 432,914 266,192 15,545
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