-----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, Jl72mFZHCnIB54GVkXNSILBErbmG7asQ8WVSHzibU1J0Qg7vES0gKTbgjdYV68jK SGrnBuhf8AQZ7bs9LKcMTA== 0000071297-97-000073.txt : 19971125 0000071297-97-000073.hdr.sgml : 19971125 ACCESSION NUMBER: 0000071297-97-000073 CONFORMED SUBMISSION TYPE: 35-CERT PUBLIC DOCUMENT COUNT: 7 FILED AS OF DATE: 19971124 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: SEC FILE NUMBER: 070-08803 FILM NUMBER: 97726877 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 NEES 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 1997: 1. NEES Energy, Inc. (NEES Energy), a Massachusetts Corporation,was formed on June 14, 1996. The corporation was capitalized on August 9, 1996 when one thousand shares of NEES Energy common stock were issued and sold to New England Electric System (NEES). 2. As of September 30, 1997 NEES had purchased 1,000 shares of NEES Energy common stock and made subordinated loans totaling$10,780,000 to NEES Energy. 3. As of September 30, 1997 NEES Energy had no permanent personnel and during the third quarter of 1997 there were no individuals assigned on a substantially full-time basis. 4. During the third quarter of 1997 NEES Energy had no kilowatt hours sold or marketed. 5. In December 1996, following SEC approval of a joint venture with a subsidiary of Eastern Enterprises (HCAR No. 35-26633), NEES Energy invested in AllEnergy Marketing Company, L.L.C.(AllEnergy), a limited liability corporation. AllEnergy is engaged in the business of marketing and selling energy commodities and energy related services. NEES Energy will invest, from time to time amounts not to exceed fifty million dollars in AllEnergy. The net investment during the third quarter of 1997 was $1,225,000. 6. Attached in Exhibits A through C are a balance sheet as of September 30, 1997, income statements and statements of cash flow for the quarter and twelve months ended September 30, 1997. 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/John G. Cochrane ___________________________ John G. Cochrane Treasurer Date: November 24, 1997 EX-99 2 EXHIBIT INDEX Exhibit No. Description Page - ----------- ----------- ---- A Balance Sheet at September 30, 1997 Filed (Unaudited, subject to adjustment) herewith B1 Statement of Income and Accumulated Deficit Filed For the Quarter ended September 30, 1997 herewith (Unaudited, Subject to Adjustment) B2 Statement of Cash Flows Filed For the Quarter Ended September 30, 1997 herewith (Unaudited, Subject to Adjustment) C1 Statement of Income and Accumulated Deficit Filed For the Twelve Months ended September 30, 1997 herewith (Unaudited, Subject to Adjustment) C2 Statement of Cash Flows Filed For the Twelve Months September 30, 1997 herewith (Unaudited, Subject to Adjustment) EX-99 3 EXHIBIT A Exhibit A NEES Energy, Inc. Balance Sheet (Thousands of Dollars) As of September 30, 1997 (Unaudited, Subject to Adjustment) ASSETS - ------ Equity investment in AllEnergy Marketing Co., L.L.C. $5,504 Current assets: Cash 79 Prepaid taxes 175 ------ Total current assets 254 ------ Total assets $5,758 ====== LIABILITIES AND PARENT COMPANY'S INVESTMENT - ------------------------------------------- Current liabilities Accounts payable $ 3 Accounts payable to associated companies 6 ------ Total current liabilities 9 Parent Company's Investment: Common stock, par value $1 per share 1 Subordinated notes payable to parent 10,780 Accumulated deficit (5,032) ------ 5,749 ------ Total liabilities and parent company's investment $5,758 ====== EX-99 4 EXHIBIT B1 Exhibit B1 NEES ENERGY, INC. Statement of Income and Accumulated Deficit (Thousands of Dollars) For the Quarter ended September 30, 1997 (Unaudited, Subject to Adjustment) INCOME Equity in income/(loss) of AllEnergy Marketing Co., L.L.C. $(2,275) ======= EXPENSES Other operating expenses 51 Income tax (814) ------- Total Operating Expenses (763) ------- Net income/(loss) (1,512) Retained earnings at beginning of period (3,520) ------- Accumulated deficit at end of period $(5,032) ======= EX-99 5 EXHIBIT B2 Exhibit B2 NEES Energy, Inc. Statement of Cash Flows (Thousands of Dollars) For the Quarter Ended September 30, 1997 (Unaudited, Subject to Adjustment) Operating activities: Net income/(loss) $ (1,512) Adjustments to reconcile net income/(loss) to net cash provided by operating activities: Undistributed income/(loss) in subsidiary 2,275 (Increase)decrease in prepaid taxes 551 Increase(decrease) in accounts payable (13) ------ Net cash provided by(used in) operating activities 1,301 ------ Investing activities: Investment in AllEnergy Marketing Co.,L.L.C. (3,500) ------- Net cash used in investing activities (3,500) ------- Financing Activities: Subordinated notes payable to parent-issues 2,250 ------- Net cash provided by financing activities 2,250 ------- Net increase(decrease) in cash and cash equivalents 51 Cash and cash equivalents at beginning of period 28 ------- Cash and cash equivalents at end of period $ 79 ======= EX-99 6 EXHIBIT C1 Exhibit C1 NEES ENERGY, INC. Statement of Income and Accumulated Deficit (Thousands of Dollars) For the Twelve Months ended September 30, 1997 (Unaudited, Subject to Adjustment) INCOME Equity in income/(loss) of AllEnergy Marketing Co., L.L.C. $(6,746) ======= EXPENSES Other operating expenses 432 Interest expense 27 Federal income tax (2,655) ------- (2,196) ------- Net income/(loss) (4,550) Retained earnings at beginning of period (482) ------- Accumulated deficit at end of period $(5,032) ======= EX-99 7 EXHIBIT C2 Exhibit C2 NEES Energy, INC. Statement of Cash Flows (Thousands of Dollars) For the Twelve Months September 30, 1997 (Unaudited, Subject to Adjustment) Operating Activities: Net Income/(Loss) ($4,550) Adjustments to reconcile net income/(loss) to net cash provided by operating activities: Undistributed income/(loss) in subsidiary 6,746 (Increase)decrease in accounts receivable 3 (Increase)decrease in prepaid taxes 84 Increase(decrease) in accounts payable (399) ------- Net cash provided by(used in) operating activities 1,884 ------- Investing activities: Investment in AllEnergy Marketing Co.,L.L.C. (12,250) ------- Net cash used in investing activities (12,250) ------- Financing Activities: Subordinated notes payable to parent-issues 10,400 ------- Net cash provided by financing activities 10,400 Net increase(Decrease) in cash and cash equivalents 34 Cash and cash equivalents at beginning of period 45 ------- Cash and cash equivalents at end of period $ 79 ======= -----END PRIVACY-ENHANCED MESSAGE-----