-----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, UzwE1gDnRpaloNlOwvekTYIKhWjdMNtdai1TU53FuyQ+4myDUtdZOu7GJAfl8XKx x6ZxruK1LkODnL4qxAK5rA== 0000072741-01-500067.txt : 20010530 0000072741-01-500067.hdr.sgml : 20010530 ACCESSION NUMBER: 0000072741-01-500067 CONFORMED SUBMISSION TYPE: 35-CERT PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20010529 FILER: COMPANY DATA: COMPANY CONFORMED NAME: NORTHEAST UTILITIES SYSTEM 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: SEC FILE NUMBER: 070-09541 FILM NUMBER: 1649328 BUSINESS ADDRESS: STREET 1: 174 BRUSH HILL AVE CITY: WEST SPRINGFIELD STATE: MA ZIP: 01090-0010 BUSINESS PHONE: 4137855871 MAIL ADDRESS: STREET 1: 107 SELDON ST CITY: BERLIN STATE: CT ZIP: 06037-1616 35-CERT 1 file709541.txt File No. 70-9541 UNITED STATES OF AMERICA SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Application of Northeast Utilities, The Connecticut ) Light and Power Company, ) Public Service Company of ) CERTIFICATE PURSUANT TO New Hampshire, Western ) RULE 24 UNDER THE PUBLIC Massachusetts Electric ) UTILITY HOLDING COMPANY ACT Company, North Atlantic ) OF 1935 Energy Corporation, NU ) Enterprises, Inc., Northeast ) Generation Company, ) Northeast Generation ) Services Company, Select ) Energy, Inc., Select Energy ) Portland Pipeline, Inc., ) HEC Inc., Select Energy ) Contracting, Inc., Reeds ) Ferry Supply Co., Inc., ) HEC Energy Consulting ) Canada, Inc. on Form U-1 ) Pursuant to the requirements of Rule 24 under the Public Utility Holding Company Act of 1935, Northeast Utilities ("NU"), a registered holding company, hereby files this quarterly report as required by the Securities and Exchange Commission's order authorizing payment of dividends, share repurchases and share issuance in connection with restructuring by NU and certain subsidiaries (HCAR. No. 27147, March 7, 2000, File No. 70-9541) ("Order"). For the quarter ended March 31, 2001, the following information is reported pursuant to the Order. 1) A total capitalization calculation to include a breakdown of the common stock equity account and by percentage for each equity and debt category for the period ending for each Applicant that indicates the amount, if any, of dividends paid to NU and/or the amount of repurchased stock from NU during the quarter; total capitalization is to include all short-term debt and current maturities. The Connecticut Light and Power Company (CL&P) As of March 31, 2001 -------------------- (thousands of dollars) % ----------- ---- Common shareholders' equity: Common shares $ 75,849 2.1% Capital surplus, paid in 413,973 11.3 Retained earnings 265,008 7.2 ---------- ----- Total Common shareholders' equity 754,830 20.6 Preferred stock 216,200 5.9 Long-term and short-term debt 1,265,477 34.4 Rate reduction bonds 1,438,400 39.1 ---------- ----- $3,674,907 100.0% ========== ===== A common dividend of $15,018,070.32 was declared on March 21, 2001 and was paid to NU on March 31, 2001. Western Massachusetts Electric Company (WMECO) As of March 31, 2001 -------------------- (thousands of dollars) % ----------- ---- Common shareholders' equity: Common shares $ 14,752 2.9% Capital surplus, paid in 93,477 18.4 Retained earnings 62,585 12.4 ----------- ----- Total Common shareholders' equity 170,814 33.7 Long-term and short-term debt 336,476 66.3 ----------- ----- $ 507,290 100.0% =========== ===== A common dividend of $2,997,672.44 was declared on March 21, 2001 and was paid to NU on March 31, 2001. North Atlantic Energy Corporation (NAEC) As of March 31, 2001 -------------------- (thousands of dollars) % ----------- ---- Common shareholders' equity: Common shares $ 1 0.0% Capital surplus, paid in 160,999 32.4 Retained earnings 1,198 0.2 ----------- ----- Total Common shareholders' equity 162,198 32.6 Long-term and short-term debt 335,000 67.4 ----------- ----- $ 497,198 100.0% =========== ===== A common dividend of $11,000,000.00 was declared on February 21, 2001 and was paid to NU on March 31, 2001. There were no other dividends paid to NU and/or repurchased stock from NU for the other applicants during this quarter. 2) The current senior debt rating of each Applicant to include a representation that the rating is at or above investment grade. As of March 31, 2001 the senior debt ratings issued by Standard and Poor's Corporation of CL&P, WMECO and PSNH are each BBB+, which is an investment grade rating. None of the other applicants have senior debt ratings. 3) The amount of cash-on-hand both during the quarter and as of the end of each quarter for CL&P, PSNH, WMECO, and NAEC to include a representation as to whether internal cash funds available during the quarter were sufficient to fund each company's normal business operations or had to be supplemented with borrowings. NU represents that during the quarter ended March 31, 2001 internal cash funds available during the quarter, confirmed with financing activities set forth below, were sufficient to fund each company's normal business operations. Internal cash funds available during the quarter were not supplemented with external borrowings during the quarter. During the first quarter, CL&P issued rate reduction bonds. The proceeds were used to pay for the IPP buyouts, IPP buydowns and the repayment of long-term and short-term debt.
Net cash flows Net cash flows Net cash flows Cash provided by/ (used in)/ provided by/ beginning (used in) provided by (used in) Cash of period operating investing financing end of period 12/31/2000 activities activities activities 3/31/2001 ---------- ---------- ---------- ---------- --------- (Thousands of Dollars) CL&P $ 5,461 $429,374 $(461,652) $1,339,742 $1,312,925 PSNH 115,135 (21,800) (87,272) (643) 5,420 WMECO 985 13,282 201 (14,369) 99 NAEC 118 75,593 (64,711) (11,000) -
SIGNATURE Pursuant to the requirements of the Public Utility Holding Company Act of 1935, the undersigned company has duly caused this Certificate to be signed on its behalf by the undersigned thereunto duly authorized. /s/ John J. Roman ----------------------------- John J. Roman Vice President and Controller Northeast Utilities P.O. Box 270 Hartford, CT 06141-0270 May 29, 2001 -----END PRIVACY-ENHANCED MESSAGE-----