-----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, Q0w5unegLCxhH65RfO9cCZOq36YH0jWJNNZxBrXzKgXB/SeAAhRcwiCSvhT9Vdgq ijKtgphZ9qAivqbJHBT60g== 0000071297-97-000014.txt : 19970304 0000071297-97-000014.hdr.sgml : 19970304 ACCESSION NUMBER: 0000071297-97-000014 CONFORMED SUBMISSION TYPE: 35-CERT PUBLIC DOCUMENT COUNT: 8 FILED AS OF DATE: 19970303 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: 97549511 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 fourth 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 December 31, 1996 NEES had purchased 1,000 shares of GS Energy common stock and made subordinated loans totaling $355,000 to GS Energy. 3. As of December 31, 1996 GS Energy employed no permanent personnel. However, during the fourth quarter of 1996, the following individual was assigned on a substantially full-time basis, to perform duties on behalf of GS Energy: Rosemary Caredeo This person was an employee of Massachusetts Electric Company during the period covered by the filing. The cost of service provided to GS Energy reflects compensation of the individuals assigned and the actual overhead costs of Massachusetts Electric Company. 4. During the fourth 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 December 31, 1996, income statements and statements of cash flow for the quarter ended December 31, 1996 and twelve months ended December 31, 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: March 3, 1997 EX-99 2 EXHIBIT INDEX Exhibit No. Description Page - ----------- ----------- ---- A Balance Sheet at December 31, 1996 Filed (Unaudited, subject to adjustment) herewith B1 Statement of Income and Accumulated Filed Deficit for the quarter ended herewith December 31, 1996 (Unaudited, subject to adjustment) C1 Statement of Cash Flows for the Filed quarter ended December 31, 1996 herewith (Unaudited, subject to adjustment) B2 Statement of Income and Accumulated Filed Deficit for the twelve months ended herewith December 31, 1996 C2 Statement of Cash Flows for the Filed twelve months ended December 31, 1996 herewith D Kilowatt Hours Sold Filed For the Quarter Ended December 31, 1996 herewith (Unaudited, Subject to Adjustment) EX-99 3 EXHIBIT A Exhibit A GRANITE STATE ENERGY, INC. Balance Sheet As of December 31, 1996 (Unaudited, Subject to Adjustment) ASSETS - ------ Current assets: Cash $23,049 Accounts receivable from associated companies 53,340 Customer accounts receivable 54,599 Unbilled revenue 63,000 Tax benefit receivable 84,300 --------- Total assets $278,288 ========= LIABILITIES AND PARENT COMPANY'S INVESTMENT - ------------------------------------------- Current liabilities: Accounts payable to associated companies $78,778 Parent company's investment: Common stock, par value $1 per share 1,000 Subordinated notes payable to parent 355,000 Accumulated deficit (156,490) ---------- 199,510 ---------- Total liabilities and parent company's investment $278,288 ========== EX-99 4 EXHIBIT B1 Exhibit B1 GRANITE STATE ENERGY, INC. Statement of Income and Accumulated Deficit For the Quarter ended December 31, 1996 (Unaudited, Subject to Adjustment) INCOME Operating revenue $149,014 -------- EXPENSE Purchased electric energy 142,117 Other operating expenses 94,418 Federal income tax (30,656) --------- Total operating expenses 205,879 --------- Net income/(loss) (56,865) Accumulated deficit at beginning of period (99,625) --------- Accumulated deficit at end of period $(156,490) ========= EX-99 5 EXHIBIT C1 Exhibit C1 GRANITE STATE ENERGY, INC. Statement of Cash Flows For the Quarter Ended December 31, 1996 (Unaudited, Subject to Adjustment) Operating activities: Net income/(loss) ($56,865) Adjustments to reconcile net income/(loss) to net cash provided by operating activities: Increase in tax benefit receivable (30,656) Increase in accounts receivable (67,313) Increase in accounts payable (61,308) --------- Net cash provided by operating activities (216,142) Financing activities: Subordinated notes payable to parent-issues 200,000 -------- Net increase in cash and cash equivalents (16,142) Cash and cash equivalents at beginning of period 39,191 -------- Cash and cash equivalents at end of period $ 23,049 ======== EX-99 6 EXHIBIT B2 Exhibit B2 GRANITE STATE ENERGY, INC. Statement of Income and Accumulated Deficit For the Twelve Months ended December 31, 1996 (Unaudited, Subject to Adjustment) INCOME Operating revenue $298,596 ------- EXPENSES Purchased electric energy 299,740 Other operating expenses 239,646 Federal income tax (84,300) --------- 455,086 --------- Net income/(loss) (156,490) Retained earnings at beginning of period 0 --------- Accumulated deficit at end of period ($156,490) ========= EX-99 7 EXHIBIT C2 Exhibit C2 GRANITE STATE ENERGY, INC. Statement of Cash Flows For the Twelve Months ended December 31, 1996 (Unaudited, Subject to Adjustment) Operating activities: Net income/(loss) ($156,490) Adjustments to reconcile net income/(loss) to net cash provided by operating activities: Increase in unbilled revenue (63,000) Increase in tax benefit receivable (84,300) Increase in accounts receivable (107,939) Increase in accounts payable 78,778 -------- Net cash provided by operating activities (332,951) -------- Financing activities: Issue of common stock 1,000 Subordinated notes payable to parent-issues 355,000 ------- Net cash provided by financing activities 356,000 ------- Net increase in cash and cash equivalents 23,049 Cash and cash equivalents at inception 0 ------- Cash and cash equivalents at end of period $23,049 ======= EX-99 8 EXHIBIT D Exhibit D GRANITE STATE ENERGY, INC. Kilowatt Hours Sold For the Twelve Months ended December 31, 1996 (Unaudited, Subject to Adjustment) CUSTOMER CLASS KILOWATT HOURS Residential 7,517,975 Commercial 4,549,238 ---------- Total 12,067,213 ========== -----END PRIVACY-ENHANCED MESSAGE-----