-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: keymaster@town.hall.org Originator-Key-Asymmetric: MFkwCgYEVQgBAQICAgADSwAwSAJBALeWW4xDV4i7+b6+UyPn5RtObb1cJ7VkACDq pKb9/DClgTKIm08lCfoilvi9Wl4SODbR1+1waHhiGmeZO8OdgLUCAwEAAQ== MIC-Info: RSA-MD5,RSA, oqB/PHJsQdbCmMZfhorcCVgGTGiROB2xmpQ4O/i3O/++zC7Ccym1isJL9V2X725f zamLRaCz4Xpg27Ga1U3AAA== 0000072741-94-000039.txt : 19940516 0000072741-94-000039.hdr.sgml : 19940516 ACCESSION NUMBER: 0000072741-94-000039 CONFORMED SUBMISSION TYPE: 35-CERT PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19940513 FILER: COMPANY DATA: COMPANY CONFORMED NAME: NORTHEAST UTILITIES CENTRAL INDEX KEY: 0000072741 STANDARD INDUSTRIAL CLASSIFICATION: 4911 IRS NUMBER: 042147929 STATE OF INCORPORATION: MA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 35-CERT SEC ACT: 1935 Act SEC FILE NUMBER: 070-08076 FILM NUMBER: 94528217 BUSINESS ADDRESS: STREET 1: 174 BRUSH HILL AVE CITY: WEST SPRINGFIELD STATE: MA ZIP: 01090-0010 BUSINESS PHONE: 2036655000 MAIL ADDRESS: STREET 1: 107 SELDON ST CITY: BERLIN STATE: CT ZIP: 06037-1616 35-CERT 1 HEC, INC. QTRYLY RPT FILING UNDER RULE 24 OF 35 ACT UNITED STATES OF AMERICA before the SECURITIES AND EXCHANGE COMMISSION PUBLIC UTILITY HOLDING COMPANY ACT OF 1935 In the matter of HEC Inc. Report for Period 24 Prime Parkway January 1, 1994 to Natick, MA 01760 March 31, 1994 Pursuant to Rule 24 File No. 70-8076 This report is filed under Rule 24 of the Public Utility Holding Company Act of 1935 by HEC Inc.(HEC), a wholly owned subsidiary of Northeast Utilities, a registered holding company. Pursuant to HCAR No. 35-25900 (the "Order"), HEC is authorized to provide energy management and demand side management services primarily to customers located in New England and New York (the "Region") and to provide limited services outside of the Region. The Order also authorizes HEC to provide consulting services. HEC is required to report quarterly on services provided during the previous quarter. Accordingly, this report includes the following information: 1. A summary balance sheet and an income statement (unaudited) for the three-month period ended March 31, 1994. See Exhibit A. 2. A narrative description of HEC's energy management, demand side management services, and consulting activities undertaken during the quarter and the type of customers for which services were rendered in the Region and outside the Region. See Exhibit B. 3. A summary of the revenues in the Region and outside of the Region through HEC's provision of energy management services, demand side management services, and consulting activities. See Exhibit C. As requested by order of this Commission pursuant to the Public Utility Holding Company Act of 1935, HEC has duly caused this report to be signed on the eleventh day of May 1994. HEC Inc. By: Linda A. Jensen Vice President - Finance EXHIBIT A HEC INC. BALANCE SHEET - MARCH 31, 1994 ASSETS CURRENT ASSETS: 1994 ---------- Cash and cash equivalents $ 875,161 Contract receivables, current, less allowance for uncollectibles of $640,000 2,769,165 Other current assets 217,386 ---------- Total current assets 3,861,712 ---------- PROPERTY AND EQUIPMENT 3,560,531 Less accumulated depreciation and amortization 1,014,647 ---------- Net property and equipment 2,545,884 ---------- OTHER ASSETS: Contract receivables, noncurrent, less allowance for uncollectibles of $48,000 1,155,000 Other assets 98,488 ---------- Total other assets 1,253,488 ---------- TOTAL ASSETS $7,661,084 ========= LIABILITIES AND STOCKHOLDER'S EQUITY CURRENT LIABILITIES: Accounts Payable 1,171,203 Accrued Expenses 247,258 Accrued Income Taxes (12,829) Short-Term Borrowing NU Moneypool 2,775,000 --------- Total current liabilities 4,180,632 --------- OTHER LIABILITIES: Deferred income tax liability 160,444 Other 132,080 ---------- Total other liabilities 292,524 ---------- COMMITMENTS AND CONTINGENCIES STOCKHOLDER'S EQUITY Common stock, $1 par value. Authorized and issued 100 shares 100 Additional paid-in-capital 4,315,737 Accumulated Deficit (1,127,909) --------- Total stockholder's equity 3,187,928 --------- TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY $7,661,084 ========= HEC INC STATEMENT OF OPERATION FOR THE QUARTER ENDED MARCH 31, 1994 REVENUES $ 4,402,902 COST OF REVENUES 3,621,869 --------- Gross profit 781,033 SELLING, GENERAL AND ADMINISTRATIVE EXPENSES 672,467 ------- Operating income 108,566 ------- INTEREST INCOME (EXPENSE) Interest income 37,160 Interest expense (24,294) ------ 12,866 ------ Income before income tax expense 121,432 INCOME TAX EXPENSE 48,648 ------ Net Income (Loss) $72,784 ====== EXHIBIT B HEC INC. REPORT FOR JANUARY 1 - MARCH 31, 1994 NARRATIVE DESCRIPTION OF SERVICES Energy Management Services HEC provided energy management services for approximately twenty-five clients within the Region and eighteen clients outside of the Region. Services included energy audits (the identification of energy and other resource cost reduction opportunities); design of energy conservation measures including energy efficient lighting, energy efficient motors, energy management systems, heating, ventilating and air conditioning equipment retrofits, variable speed drives; the management of and direct installation of energy conservation equipment of the same type designed; assistance in identifying and arranging third-party financing for project installations; training of client personnel in the operation of installed equipment; system commissioning and reporting of program results. The majority of these services were performed in New York, Connecticut and Massachusetts in schools, hospitals and other municipal facilities under utility-sponsored programs. Energy management services outside of the region were also provided primarily to schools and hospitals. Demand Side Management Services HEC provided demand side management services for two clients within the Region and five clients outside of the Region. Services provided within the Region consisted primarily of monitoring and/or evaluating the demand side management programs and installations of a non-affiliated New England utility. Outside of the Region, HEC assisted two midwest utilities in the design of demand side management programs and one West Coast utility in the evaluation of demand side management installations. HEC also provided services as a subcontractor in the evaluation of utility demand side management programs. Consulting Activities HEC consulting activities within the Region consisted primarily of design and specification of energy consuming equipment for six clients including schools, hospitals, a bank and a sports facility and technical and general administrative advice to two clients which provide energy services. Outside of the Region, HEC provided design services to four school and hospital clients. EXHIBIT C HEC INC. REPORT FOR JANUARY 1 - MARCH 31, 1994 SUMMARY OF REVENUES TYPE OF SERVICE WITHIN THE REGION OUTSIDE THE REGION TOTAL Energy Management $3,578,754 $518,078 $4,096,832 Services Demand Side Management 48,443 194,218 242,662 Subtotal 3,627,197 712,296 4,339,494 Consulting 44,005 19,404 63,409 TOTAL REVENUES $4,402,902 ========= -----END PRIVACY-ENHANCED MESSAGE-----