-----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, J/VLkVOgUUCUnYaA4Zje/fhRhU95ak8cQ2WGrNXL4PuA3OeNxDQ0jTFTVSVsU3fE cF5kWbK9CDsCUML7qt55GA== 0000071297-96-000084.txt : 19961202 0000071297-96-000084.hdr.sgml : 19961202 ACCESSION NUMBER: 0000071297-96-000084 CONFORMED SUBMISSION TYPE: 35-CERT PUBLIC DOCUMENT COUNT: 8 FILED AS OF DATE: 19961127 SROS: BSE SROS: NYSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: NEW ENGLAND ELECTRIC SYSTEM CENTRAL INDEX KEY: 0000071297 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 041663060 STATE OF INCORPORATION: MA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 35-CERT SEC ACT: 1935 Act SEC FILE NUMBER: 070-08803 FILM NUMBER: 96673589 BUSINESS ADDRESS: STREET 1: 25 RESEARCH DR CITY: WESTBOROUGH STATE: MA ZIP: 01581 BUSINESS PHONE: 5083669011 35-CERT 1 File No. 70-8803 CERTIFICATE OF NOTIFICATION (Rule 24) SECURITIES AND EXCHANGE COMMISSION BY GRANITE STATE ENERGY, INC. In accordance with the order of the Securities and Exchange Commission dated May 23, 1996, the following is a report for the third quarter of 1996: 1. Granite State Energy, Inc. (GS Energy), a New Hampshire Corporation was formed on April 22, 1996. The corporation was capitalized on June 21, 1996, when one thousand shares of GS Energy common stock were issued and sold to New England Electric System (NEES). 2. As of September 30, 1996 NEES had purchased 1,000 shares of GS Energy common stock and made subordinated loans totaling $155,000 to GS Energy. 3. As of September 30, 1996 GS Energy employed no permanent personnel and during the third quarter of 1996 there were no individuals assigned on a substantially full-time basis. 4. During the third quarter of 1996, GS Energy recorded an accrual for revenues associated with kilowatt hours sold but not yet billed. Provided in Exhibit D is the detail to kilowatt hours sold by customer class. 5. Attached in Exhibits A through C are a balance sheet as of September 30, 1996, income statement and statement of cash flow for the quarter ended September 30, 1996 and twelve months ended September 30, 1996. Pursuant to the requirements of the Public Utility Holding Company Act of 1935, the undersigned company has duly caused this certificate of notification (Commission's File No. 70-8803) to be signed on its behalf by the undersigned officer thereunto duly authorized. By: s/Howard W. McDowell _________________________ Howard W. McDowell Treasurer Date: November 27, 1996 EX-99 2 EXHIBIT INDEX Exhibit No. Description Page - ----------- ----------- ---- A Balance Sheet at September 30, 1996 Filed (Unaudited, subject to adjustment) herewith B1 Statement of Income and Accumulated Filed Deficit for the quarter ended herewith September 30, 1996 (Unaudited, subject to adjustment) C1 Statement of Cash Flows for the Filed quarter ended September 30, 1996 herewith (Unaudited, subject to adjustment) B2 Statement of Income and Accumulated Deficit Filed For the Twelve Months ended September 30, 1996 herewith (Unaudited, Subject to Adjustment) C2 Statement of Cash Flows Filed For the Twelve Months ended September 30, 1996 herewith (Unaudited, Subject to Adjustment) D Kilowatt Hours Sold Filed For the Twelve Months ended September 30, 1996 herewith (Unaudited, Subject to Adjustment) EX-99 3 EXHIBIT A Exhibit A GRANITE STATE ENERGY, INC. Balance Sheet As of September 30, 1996 (Unaudited, Subject to Adjustment) ASSETS - ------ Current assets: Cash $39,191 Customer Accounts Receivable 40,626 Unbilled Revenue 63,000 Tax Benefit Receivable 53,644 ------- Total Assets $196,461 ======= LIABILITIES AND PARENT COMPANY'S INVESTMENT - ------------------------------------------- Current liabilities: Accounts payable to associated companies $140,086 Parent Company's Investment: Common stock, par value $1 per share 1,000 Subordinated notes payable to parent 155,000 Accumulated Deficit (99,625) ------- 56,375 ------- Total Liabilities and Parent Company's Investment $196,461 ======= EX-99 4 EXHIBIT B1 Exhibit B1 GRANITE STATE ENERGY, INC. Statement of Income and Accumulated Deficit For the Quarter ended September 30, 1996 (Unaudited, Subject to Adjustment) INCOME Operating Revenue $146,282 -------- EXPENSE Purchased Electric Energy 154,158 Other Operating Expenses 145,228 Federal Income Tax (53,586) --------- Total Operating Expenses 245,800 -------- Net Income/(Loss) (99,518) Accumulated Deficit at beginning of period (107) -------- Accumulated Deficit at end of period $(99,625) ======== EX-99 5 EXHIBIT C1 Exhibit C1 GRANITE STATE ENERGY, INC. Statement of Cash Flows For the Quarter Ended September 30, 1996 (Unaudited, Subject to Adjustment) Operating Activities: Net Income/(Loss) ($99,518) Adjustments to reconcile net income/(loss) to net cash provided by operating activities: Increase in unbilled revenue (59,700) Increase in tax benefit receivable (53,586) Increase in accounts receivable (40,626) Increase in accounts payable 136,621 ------- Net cash provided by operating activities (116,809) Financing Activities: Subordinated notes payable to parent-issues 155,000 ------- Net increase in cash and cash equivalents 38,191 Cash and cash equivalents at beginning of period 1,000 ------ Cash and cash equivalents at end of period $39,191 ====== EX-99 6 EXHIBIT B2 Exhibit B2 GRANITE STATE ENERGY, INC. Statement of Income and Accumulated Deficit For the Twelve Months ended September 30, 1996 (Unaudited, Subject to Adjustment) INCOME Operating Revenue $149,582 ------- EXPENSE Purchased Electric Energy 157,623 Other Operating Expenses 145,228 Federal Income Tax (53,644) --------- 249,207 --------- Net Income/(Loss) (99,625) Retained Earnings at beginning of period 0 --------- Accumulated Deficit at end of period ($99,625) ========= EX-99 7 EXHIBIT C2 Exhibit C2 GRANITE STATE ENERGY, INC. Statement of Cash Flows For the Twelve Months ended September 30, 1996 (Unaudited, Subject to Adjustment) Operating Activities: Net Income/(Loss) ($99,625) Adjustments to reconcile net income/(loss) to net cash provided by operating activities: Increase in unbilled revenue (63,000) Increase in tax benefit receivable (53,644) Increase in accounts receivable (40,626) Increase in accounts payable 140,086 -------- Net cash provided by operating activities (116,809) Financing Activities: Issue of common stock 1,000 Subordinated notes payable to parent-issues 155,000 ------- Net cash provided by financing activities 156,000 Net increase in cash and cash equivalents 39,191 Cash and cash equivalents at inception 0 ------- Cash and cash equivalents at end of period $39,191 ======= EX-99 8 EXHIBIT D Exhibit D GRANITE STATE ENERGY, INC. Kilowatt Hours Sold For the Twelve Months ended September 30, 1996 (Unaudited, Subject to Adjustment) CUSTOMER CLASS KILOWATT HOURS Residential 4,066,104 Commercial 1,836,475 --------- Total 5,902,579 ========= -----END PRIVACY-ENHANCED MESSAGE-----