-----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, MBFC+RRT/BGkQ/mtzag/fi2vkQqn7KijYxhOKu2B+G6bYJyR/aLGf05fnxo4b9Lq IE0C8t1mgeVvLylgBK2CUA== 0000072741-96-000122.txt : 19960816 0000072741-96-000122.hdr.sgml : 19960816 ACCESSION NUMBER: 0000072741-96-000122 CONFORMED SUBMISSION TYPE: 35-CERT PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19960814 SROS: NYSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: NORTHEAST UTILITIES CENTRAL INDEX KEY: 0000072741 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [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: 96612594 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 April 1, 1996 to Natick, MA 01760 June 30, 1996 Pursuant to Rule 24 File Nos. 70-8076 and 70-8086 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 Nos. 35-26108 and 35-26335 (the "Orders"), HEC is authorized to provide energy management services, demand side management services and 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 June 30, 1996. See Exhibit A. 2. A narrative description of HEC's activities undertaken during the quarter and the type of customers for which services were rendered. Exhibit B. 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 14th day of August 1996. HEC Inc. By:/s/Linda A. Jensen Vice President - Finance EXHIBIT A HEC INC. BALANCE SHEET - June 30, 1996 ASSETS CURRENT ASSETS: 1996 ----------- Cash and cash equivalents $1,044,129 Contract receivables, current, less allowance for uncollectibles of $298,000 4,271,183 Unbilled contracts receivable 1,237,476 Other current assets 276,364 ----------- Total current assets 6,829,152 ----------- PROPERTY AND EQUIPMENT 3,880,918 Less accumulated depreciation and amortization 1,919,818 ----------- Net property and equipment 1,961,100 ----------- OTHER ASSETS 96,560 TOTAL ASSETS $ 8,886,812 =========== LIABILITIES AND STOCKHOLDER'S EQUITY CURRENT LIABILITIES: Accounts Payable $2,592,312 Accrued Expenses 1,159,967 Accured Income Taxes 44,031 Short-Term Borrowing NU Moneypool 725,000 ----------- Total current liabilities 4,521,310 ----------- OTHER LIABILITIES: Deferred income tax liability 387,504 Other 366,691 ----------- Total other liabilities 754,195 ----------- COMMITMENTS AND CONTINGENCIES STOCKHOLDER'S EQUITY Common stock, $1 par value. Authorized and issued 100 shares 100 Additional paid-in-capital 4,000,000 Foreign Currency Exchange (261) Accumulated Deficit (388,532) ----------- Total stockholder's equity 3,611,307 TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY $ 8,886,812 ============ HEC INC. STATEMENT OF OPERATION FOR THE QUARTER ENDED JUNE 30, 1996 REVENUES $9,810,807 COST OF REVENUES 8,860,709 ---------- Gross profit 950,098 SELLING, GENERAL AND ADMINISTRATIVE EXPENSES 826,437 ---------- Operating income 123,661 ---------- INTEREST INCOME (EXPENSE) Interest income 72,081 Interest expense (13,541) ---------- 58,540 ---------- Income before income tax expense 182,201 INCOME TAX EXPENSE 72,821 Net Income (Loss) $109,380 ========== EXHIBIT B HEC INC. REPORT FOR APRIL 1 - JUNE 30, 1996 NARRATIVE DESCRIPTION OF SERVICES Energy Management Services HEC provided the following services to clients in the period: 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 for schools, hospitals and other municipal facilities under utility-sponsored programs. Other services provided consisted primarily of evaluation of various heating and/or air conditioning equipment configurations for customers or utilities and monitoring and/or evaluating the demand side management program installations of non-affiliated utilities. HEC consulting activities consisted primarily of design and specification of energy consuming equipment for clients including schools, hospitals and commercial facilities. -----END PRIVACY-ENHANCED MESSAGE-----