-----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, HgONkzbNk0Zi/iXeRoiWNg+YeASgf/WSpWCypCt1onPsAe2gFkUO87aERYRzzQcc osBGJJxYoKdeUOGf3bRbew== 0000072741-02-000165.txt : 20021126 0000072741-02-000165.hdr.sgml : 20021126 20021126144716 ACCESSION NUMBER: 0000072741-02-000165 CONFORMED SUBMISSION TYPE: 35-CERT PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20021126 EFFECTIVENESS DATE: 20021126 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: 02840899 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 sept709541.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 New Hampshire, ) Western Massachusetts Electric Company, ) CERTIFICATE PURSUANT TO RULE 24 North Atlantic Energy Corporation, ) UNDER THE PUBLIC UTILITY HOLDING NU Enterprises, Inc., ) COMPANY ACT OF 1935 Northeast Generation Company, ) Northeast Generation Services Company, ) Select Energy, Inc., ) Select Energy Services, Inc. ) Select Energy Contracting, Inc., ) Reeds Ferry Supply Co., 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 the use of proceeds of financing transaction for investment in Exempt Wholesale Generators. (HCAR No. 35-27147, March 7, 2000, File No. 70-9541) ("Order"). For the quarter ended September 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, 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 September 30, 2002 ------------------------------------------------------------------------- (Thousands of Dollars) % ----------- ----- Common shareholders' equity Common shares $ 68,120 2.3% Capital surplus, paid in 369,414 12.6 Retained earnings 301,775 10.2 ---------- ----- Total common shareholder's equity 739,309 25.1 Preferred stock 116,200 3.9 Long-term and short-term debt 827,071 28.0 Rate reduction bonds 1,271,834 43.0 ---------- ----- $2,954,414 100.0% ========== ===== A common dividend of $15,054,506.74 was declared on September 20, 2002, and was paid to NU on September 27, 2002. Western Massachusetts Electric Company (WMECO) ------------------------------------------------------------------------- As of September 30, 2002 ------------------------------------------------------------------------- (Thousands of Dollars) % ----------- ----- Common shareholders' equity Common shares $ 10,866 2.3% Capital surplus, paid in 69,715 14.4 Retained earnings 70,739 14.7 -------- ----- Total common shareholders' equity 151,320 31.4 Long-term and short-term debt 186,505 38.6 Rate reduction bonds 144,980 30.0 -------- ----- $482,805 100.0% ======== ===== A common dividend of $4,003,154.13 was declared on September 26, 2002 and was paid to NU on September 30, 2002. Public Service Company of New Hampshire (PSNH) ------------------------------------------------------------------------- As of September 30, 2002 ------------------------------------------------------------------------- (Thousands of Dollars) % ----------- ----- Common shareholders' equity Common shares $ - - % Capital surplus, paid in 163,869 12.0 Retained earnings 199,044 14.7 ---------- ----- Total common shareholders' equity 362,913 26.7 Long-term and short-term debt 479,485 35.2 Rate reduction bonds 518,654 38.1 ---------- ----- $1,361,052 100.0% ========== ===== No common dividend was paid to NU. 2) The current senior debt rating of each Applicant to include a representation that the rating is at or above investment grade. As of September 30, 2002, 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 from working capital facilities. NU represents that during the quarter ended September 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 CL&P, PSNH and WMECO.
Net cash Net cash Net cash flows Cash flows flows (used in)/ beginning provided by used in provided by Cash end of period operating investing financing of period 7/1/2002 activities activities activities 9/30/2002 --------- ----------- ---------- ----------- --------- (Thousands of Dollars) CL&P $2,477 $141,349 $(65,400) $(70,599) $7,827 PSNH 700 56,136 (45,968) (10,150) 718 WMECO 1 7,053 (10,839) 3,786 1 NAEC 53 9,755 (9,767) - 41
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. NORTHEAST UTILITIES /s/ John P. Stack ------------------------------------------ John P. Stack Vice President - Accounting and Controller Northeast Utilities P.O. Box 270 Hartford, CT 06141-0270 November 26, 2002 -----END PRIVACY-ENHANCED MESSAGE-----