-----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, S5t7VhAgR4edTxGVmVIgX+zJcnfBNzsqUUWiC7D4DPR7ve14j/PFGN/9vWQ9LCFt Zb1RtNk4ThfcjUQt4a3XHQ== 0000072741-94-000075.txt : 19941116 0000072741-94-000075.hdr.sgml : 19941116 ACCESSION NUMBER: 0000072741-94-000075 CONFORMED SUBMISSION TYPE: 35-CERT PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19941114 SROS: NONE 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: 94560112 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 July 1, 1994 to Natick, MA 01760 September 30, 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 September 30, 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 thirteenth day of October 1994. HEC Inc. By:/s/Linda A. Jensen Vice President - Finance EXHIBIT A HEC INC. BALANCE SHEET - SEPTEMBER 30, 1994 ASSETS CURRENT ASSETS: 1994 --------- Cash and cash equivalents $463,107 Contract receivables, current, less allowance for uncollectibles of $228,000 4,433,127 Other current assets 183,801 ---------- Total current assets 5,080,035 ---------- PROPERTY AND EQUIPMENT 3,625,394 Less accumulated depreciation and amortization 1,211,057 ---------- Net property and equipment 2,414,337 ---------- OTHER ASSETS: Contract receivables, noncurrent, less allowance for uncollectibles of $7,000 98,500 Other assets 28,412 ---------- Total other assets 126,912 ---------- TOTAL ASSETS $7,621,284 =========== LIABILITIES AND STOCKHOLDER'S EQUITY CURRENT LIABILITIES: Accounts Payable 1,562,825 Accrued Expenses 364,129 Accrued Income Taxes (188,949) Short-Term Borrowing NU Moneypool 2,075,000 ---------- Total current liabilities 3,813,005 ---------- OTHER LIABILITIES: Deferred income tax liability 357,336 Other 138,260 ---------- Total other liabilities 495,597 ---------- 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 (1,003,154) ----------- Total stockholder's equity 3,312,683 TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY $7,621,284 =========== HEC INC. STATEMENT OF OPERATION FOR THE QUARTER ENDED SEPTEMBER 30, 1994 REVENUES $5,513,122 COST OF REVENUES 4,865,519 ---------- Gross profit 647,603 SELLING, GENERAL AND ADMINISTRATIVE EXPENSES 596,072 ---------- Operating income 51,531 ---------- INTEREST INCOME (EXPENSE) Interest income 43,138 Interest expense (24,729) ---------- 18,409 ---------- Income before income tax expense 69,940 INCOME TAX EXPENSE 36,565 Net Income (Loss) $33,375 ========== EXHIBIT B HEC INC. REPORT FOR JULY 1 - SEPTEMBER 30, 1994 NARRATIVE DESCRIPTION OF SERVICES Energy Management Services HEC provided energy management services for approximately fifty-two clients within the Region and nineteen 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 three clients within the Region and two 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 non-affiliated New England utilities. Outside of the Region, HEC assisted a West Coast and a Midwest utility in the evaluation of demand side management installations. Consulting Activities HEC consulting activities within the Region consisted primarily of design and specification of energy consuming equipment for six clients including schools, a hospital and commercial facilities and technical and general administrative advice to one client which provides energy services. Outside of the Region, HEC provided design services for two architectural firms, general energy consulting for municipal facilities, a hospital and an insurance company, and design services for a university. EXHIBIT C HEC INC. REPORT FOR JULY 1 - SEPTEMBER 30, 1994 SUMMARY OF REVENUES TYPE OF SERVICE WITHIN THE REGION OUTSIDE THE REGION TOTAL ============================================================================ Energy Mgmt. Services $4,287,740 $975,553 $5,263,293 Demand Side Management 69,306 53,616 122,922 - ---------------------------------------------------------------------------- Subtotal 4,357,046 1,029,169 5,386,215 - ---------------------------------------------------------------------------- Consulting 83,898 43,010 126,908 ============================================================================ TOTAL REVENUES $5,513,122 ============================================================================ -----END PRIVACY-ENHANCED MESSAGE-----