-----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, NR0Gej5GggYJ/oj0+PH0q20LktDeB5o4Jdx857mGg7ZdcaGkw3a15A09HlVWZtdk mjnap/k+foegDzHppfqlfg== 0000072741-02-000120.txt : 20020827 0000072741-02-000120.hdr.sgml : 20020827 20020827151947 ACCESSION NUMBER: 0000072741-02-000120 CONFORMED SUBMISSION TYPE: 35-CERT PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20020827 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: 070-09839 FILM NUMBER: 02749538 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 no709839.txt File No. 70-9839 UNITED STATES OF AMERICA SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Application of Northeast Utilities ) CERTIFICATE PURSUANT TO RULE 24 The Connecticut Light and Power Company, ) UNDER THE PUBLIC UTILITY HOLDING Western Massachusetts Electric Company, ) COMPANY ACT OF 1935 on Form U-1 ) Pursuant to the requirements of Rules 42, 43, 44, 46(a)and 54 under the Public Utility Holding Company Act of 1935, Northeast Utilities ("NU"), a registered holding company, Western Massachusetts Electric Company ("WMECO"), an electric utility subsidiary of NU and Connecticut Light and Power Company ("CL&P"), an electric utility subsidiary of NU hereby file this quarterly report as required by the Securities and Exchange Commission's order authorizing the repurchase of common stock out of capital or unearned surplus from parent. (HCAR No. 35-27529, May 16, 2002, File No. 70-9839) ("Order"). For the quarter ended June 30, 2002, 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 of dividends paid to NU and/or the amount of stock repurchased 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, 2002 --------------------------------------------------------------------------- (Thousands of Dollars) % ------------- ---- Common shareholders' equity Common stock $ 68,120 2.2% Capital surplus, paid in 370,070 12.2 Retained earnings 288,922 9.6 ---------- ----- Total common shareholder's equity 727,112 24.0 Preferred stock 116,200 3.8 Long-term and short-term debt 854,437 28.3 Rate reduction bonds 1,325,850 43.9 ---------- ----- $3,023,599 100.0% ========== ===== A common dividend of $15,018,070.32 was declared on June 19, 2002, and was paid to NU on June 27, 2002. 772,890 shares of common stock were repurchased for $49,995,454.29 on June 28, 2002. Western Massachusetts Electric Company (WMECO) --------------------------------------------------------------------------- As of June 30, 2002 --------------------------------------------------------------------------- (Thousands of Dollars) % ------------- ---- Common shareholders' equity Common shares $ 10,866 2.3% Capital surplus, paid in 69,865 14.5 Retained earnings 70,012 14.5 -------- ----- Total common shareholders' equity 150,743 31.3 Long-term and short-term debt 182,999 38.1 Rate reduction bonds 147,185 30.6 -------- ----- $480,927 100.0% ======== ===== A common dividend of $4,001,113.60 was declared on June 20, 2002 and was paid to NU on June 25, 2002. 75,043 shares of common stock were repurchased for $13,999,271.65 on June 27, 2002. 2) The current senior debt ratings of CL&P and WMECO, including a representation that such ratings are at or above investment grade. As of June 30, 2002, the senior debt ratings issued by Standard and Poor's Corporation and Moody's of CL&P and WMECO are each BBB+ and A3, respectively, which are investment grade ratings. 3) The Utilities' cash-on-hand both during the quarter and as of the end of each quarter and 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 from working capital facilities. CL&P and WMECO represent that during the quarter ended June 30, 2002, 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 supplemented with external borrowings for WMECO.
Cash Net cash flows Net cash flows Net cash flows beginning provided by provided by (used in) Cash end of period operating investing financing of period 4/1/2002 activities activities activities 6/30/2002 --------- -------------- -------------- -------------- --------- (Thousands of Dollars) CL&P $2,246 $79,871 $19,698 $(99,338) $2,477 WMECO 755 6,319 3,316 (10,389) 1
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 P. Stack ------------------------------------------ John P. Stack Vice President - Accounting and Controller Northeast Utilities P.O. Box 270 Hartford, CT 06141-0270 August 27, 2002 -----END PRIVACY-ENHANCED MESSAGE-----