35-CERT 1 cert9839.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 The Connecticut Light and Power Company ("CL&P"), an electric utility subsidiary of NU, hereby files 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 September 30, 2003, 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 September 30, 2003 --------------------------------------------------------------------------- (Thousands of ------------- Dollars) % -------- --- Common shareholders' equity: Common shares $ 60,352 2.1% Capital surplus, paid in 326,453 11.6 Retained earnings 337,547 11.9 ---------- ----- Total common shareholders' equity 724,352 25.6 Preferred stock 116,200 4.1 Long-term and short-term debt 829,647 29.4 Rate reduction bonds 1,153,822 40.9 ---------- ----- $2,824,021 100.0% ========== ===== A common dividend of $10,018,440.30 was declared on September 19, 2003, and was paid to NU on September 30, 2003. Western Massachusetts Electric Company (WMECO) --------------------------------------------------------------------------- As of September 30, 2003 --------------------------------------------------------------------------- (Thousands of ------------- Dollars) % -------- --- Common shareholders' equity: Common shares $ 10,866 2.3% Capital surplus, paid in 69,500 14.5 Retained earnings 73,317 15.3 -------- ----- Total common shareholders' equity 153,683 32.1 Long-term and short-term debt 189,277 39.6 Rate reduction bonds 135,383 28.3 -------- ----- $478,343 100.0% ======== ===== A common dividend of $10,001,365.53 was declared on September 19, 2003, and was paid to NU on September 30, 2003. 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 September 30, 2003, the senior secured debt ratings issued by Standard and Poor's Corporation and Moody's of CL&P are A- and A2, respectively and the senior unsecured debt ratings of WMECO are each BBB+ and A3, respectively. 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 September 30, 2003, internal cash funds available during the quarter, confirmed with financing activities set forth below, were sufficient to fund each company's normal business operations.
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 7/1/2003 activities activities activities 9/30/2003 -------- ---------- ---------- ---------- --------- (Thousands of Dollars) CL&P $ 2,609 $ 176,183 $ (127,807) $ (43,661) $ 7,324 WMECO 1 13,378 (55,982) 42,604 1
SIGNATURE Pursuant to the requirements of the Public Utility Holding Company Act of 1935, the undersigned companies have duly caused this certificate to be signed on their behalf by the undersigned thereunto duly authorized. NORTHEAST UTILITIES THE CONNECTICUT LIGHT AND POWER COMPANY WESTERN MASSACHUSETTS ELECTRIC COMPANY /s/ John P. Stack ------------------------------------------ John P. Stack Vice President - Accounting and Controller Northeast Utilities P.O. Box 270 Hartford, CT 06141-0270 November 26, 2003