-----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, HxNMXcbtpwRuYhaUmrPInTUZvIJ5/SqJbLORwGrvONseB/GXJVYgqLyriK/U+Nds oPjw3BU6XHH2MrwYlJPh+w== 0000072741-01-500110.txt : 20010827 0000072741-01-500110.hdr.sgml : 20010827 ACCESSION NUMBER: 0000072741-01-500110 CONFORMED SUBMISSION TYPE: 35-CERT PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20010824 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: 1935 Act SEC FILE NUMBER: 070-09541 FILM NUMBER: 1722375 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 ) 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 June 30, 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 June 30, 2001 -------------------- (thousands of dollars) % ----------- ----- Common shareholders' equity: Common shares $ 75,849 2.4% Capital surplus, paid in 413,947 13.2 Retained earnings 267,272 8.6 ---------- ----- Total Common shareholders' equity 757,068 24.2 Preferred stock 116,200 3.7 Long-term and short-term debt 821,365 26.2 Rate reduction bonds 1,438,400 45.9 ---------- ----- $3,133,033 100.0% ========== ===== A common dividend of $15,018,070.32 was declared on April 25, 2001 and was paid to NU on June 30, 2001. Western Massachusetts Electric Company (WMECO) As of June 30, 2001 -------------------- (thousands of dollars) % ----------- ----- Common shareholders' equity: Common shares $ 12,742 2.8% Capital surplus, paid in 82,322 18.3 Retained earnings 60,670 13.5 ----------- ----- Total Common shareholders' equity 155,734 34.6 Long-term and short-term debt 139,135 30.9 Rate reduction bonds 155,000 34.5 ----------- ----- $ 449,869 100.0% =========== ===== A common dividend of $2,999,968.72 was declared on June 7, 2001 and was paid to NU on June 29, 2001. Public Service Company of New Hampshire (PSNH) As of June 30, 2001 -------------------- (thousands of dollars) % ----------- ----- Common shareholders' equity: Common shares $ - - Capital surplus, paid in 165,658 13.0 Retained earnings 147,665 11.6 ----------- ----- Total Common shareholders' equity 313,323 24.6 Long-term and short-term debt 433,485 34.1 Rate reduction bonds 525,000 41.3 ----------- ----- $ 1,271,808 100.0% =========== ===== A common dividend of $17,999,999.78 was declared on April 26, 2001 and was paid to NU on June 30, 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 June 30, 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 June 30, 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 thesecond quarter WMECO and PSNH 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 Cash (used in)/ (used in)/ Net cash flows beginning provided by provided by (used in) Cash of period operating investing financing end of period 3/31/2001 activities activities activities 6/30/2001 --------- -------------- -------------- -------------- ------------- (Thousands of Dollars) CL&P $1,312,925 $(486,353) $(119,072) $ (706,889) $ 611 PSNH 5,420 215,584 34,452 (249,219) 6,237 WMECO 99 51,658 42,571 (94,327) 1 NAEC - 310,150 59,850 (370,000) -
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 August 23, 2001
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