-----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, CzzeHeC7sv6AvQFty8nzpp+HqtzXS+MlOWBzJWC9b9ncrj1Yz1Aly48Fjr3/W+Uz JwpLvW5ccO8rkJONAaTaGg== 0000071297-98-000056.txt : 19980921 0000071297-98-000056.hdr.sgml : 19980921 ACCESSION NUMBER: 0000071297-98-000056 CONFORMED SUBMISSION TYPE: U-1/A PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 19980918 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: U-1/A SEC ACT: SEC FILE NUMBER: 070-09347 FILM NUMBER: 98711801 BUSINESS ADDRESS: STREET 1: 25 RESEARCH DR CITY: WESTBOROUGH STATE: MA ZIP: 01582 BUSINESS PHONE: 5083669011 MAIL ADDRESS: STREET 1: 25 RESEARCH DR CITY: WESTBOROUGH STATE: MA ZIP: 01582 U-1/A 1 File No. 70-9347 SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 AMENDMENT No. 2 TO FORM U-1 APPLICATION/DECLARATION UNDER THE PUBLIC UTILITY HOLDING COMPANY ACT OF 1935 NEW ENGLAND POWER COMPANY AND NEW ENGLAND ELECTRIC SYSTEM 25 Research Drive Westborough, Massachusetts 01582 (Names of companies filing this statement and address of principal executive office) NEW ENGLAND ELECTRIC SYSTEM (Name of top registered holding company parent of applicant) John G. Cochrane Robert King Wulff Treasurer Corporation Counsel 25 Research Drive 25 Research Drive Westborough, Massachusetts 01582 Westborough, Massachusetts 01582 (Names and addresses of agents for service) Form U-1 Application/Declaration under the Public Utility Holding Company Act of 1935, File No. 70-9347, is hereby further amended as follows: 1. Item 1 is amended by adding the following new paragraph after the fifth paragraph therein: " NEP estimates that its capital structure, as of December 31, 1998, based on an initial repurchase of $450 million of common shares would be $372 million or 45.2 percent long-term debt, $2 million or 0.2 percent preferred stock, and $450 million or 54.6 percent common equity. This estimate also assumes the redemption of all remaining callable preferred stock of NEP will be completed. In addition, NEP expects to repurchase over time additional common shares within the requested authorized amount." 2. Item 6 is hereby amended by deleting subsection (b) in its entirety and replacing it with the following: "(b) Financial Statements 1-A Balance Sheets of NEES (Parent Company only) and NEP at June 30, 1998, Actual 1-B Statements of Income and Retained Earnings for NEES (Parent Company only) and NEP for twelve months ended June 30, 1998, Actual 2-A Consolidated Balance Sheet of NEES at June 30, 1998, Actual 2-B Statement of Consolidated Income for NEES for twelve months ended June 30, 1998, Actual 3-A Pro Forma Consolidated Balance Sheet of NEES at June 30, 1998 and Pro Forma Statements of Consolidated Income of NEES for the year ended December 31, 1997 and six months ended June 30, 1998, to reflect the sale of the nonnuclear generation business, and the notes thereto, incorporated herein by reference to Exhibits 1-3 to the Current Report on Form 8-K filed by NEES on September 16, 1998. 3-B Pro Forma Balance Sheet of NEP at June 30, 1998 and Pro Forma Statements of Income for NEP for the year ended December 31, 1997 and six months ended June 30, 1998, to reflect the sale of the nonnuclear generation business, and the notes thereto, incorporated herein by reference to Exhibits 1-3 to the Current Report on Form 8-K filed by NEP on September 16, 1998. 27 Financial Data Schedules for NEES and NEP" SIGNATURE --------- Pursuant to the requirements of the Public Utility Holding Company Act of 1935, each undersigned company has duly caused this amendment to be signed on its behalf by the undersigned officers thereunto duly authorized by each such company. NEW ENGLAND ELECTRIC SYSTEM NEW ENGLAND POWER COMPANY s/John G. Cochrane ____________________________ John G. Cochrane Treasurer Date: September 18, 1998 The name "New England Electric System" means the trustee or trustees for the time being (as trustee or trustees but not personally) under an agreement and declaration of trust dated January 2, 1926, as amended, which is hereby referred to, and a copy of which as amended has been filed with the Secretary of The Commonwealth of Massachusetts. Any agreement, obligation or liability made, entered into or incurred by or on behalf of New England Electric System binds only its trust estate, and no shareholder, director, trustee, officer or agent thereof assumes or shall be held to any liability therefor. EX-99 2 EXHIBIT INDEX EXHIBIT INDEX Exhibit No. Description Page - ----------- ------------ ------ Financial Statements -------------------- 1-A Balance Sheets of NEES (Parent Previously filed Company only) and NEP at June 30, 1998, Actual 1-B Statements of Income and Retained Previously filed Earnings for NEES (Parent Company only) and NEP for twelve months ended June 30, 1998, Actual 2-A Consolidated Balance Sheet of NEES Previously filed at June 30, 1998, Actual 2-B Statement of Consolidated Income for Previously filed NEES for twelve months ended June 30, 1998, Actual 3-A Pro Forma Consolidated Balance Sheet Incorporated by of NEES at June 30, 1998 and Pro Forma reference Statements of Consolidated Income of NEES for the year ended December 31, 1997 and six months ended June 30, 1998, to reflect the sale of the nonnuclear generation business, and the notes thereto, incorporated herein by reference to Exhibits 1-3 to the Current Report on Form 8-K filed by NEES on September 16, 1998. 3-B Pro Forma Balance Sheet of NEP at June Incorporated by 30, 1998 and Pro Forma Statements of reference Income for NEP for the year ended December 31, 1997 and six months ended June 30, 1998, to reflect the sale of the nonnuclear generation business, and the notes thereto, incorporated herein by reference to Exhibits 1-2 to the Current Report on Form 8-K filed by NEP on September 16, 1998. 27 Financial Data Schedules for NEES Previously filed and NEP -----END PRIVACY-ENHANCED MESSAGE-----