-----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, G8FNCgp3Q/ZQ+Fo5ODN1ezL4H1/rLnL0WzRWGxS4ezU9fLInKnfAeTWx0z5VvszZ T0OABfhCo8goEa4sezzgDQ== 0000072741-04-000059.txt : 20040527 0000072741-04-000059.hdr.sgml : 20040527 20040527102050 ACCESSION NUMBER: 0000072741-04-000059 CONFORMED SUBMISSION TYPE: 35-CERT PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20040527 EFFECTIVENESS DATE: 20040527 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: 070-09543 FILM NUMBER: 04833838 BUSINESS ADDRESS: STREET 1: 174 BRUSH HILL AVE CITY: WEST SPRINGFIELD STATE: MA ZIP: 01090-0010 BUSINESS PHONE: 4137855871 MAIL ADDRESS: STREET 1: 107 SELDEN ST CITY: BERLIN STATE: CT ZIP: 06037-1616 35-CERT 1 cert709543.txt File No. 70-9543 UNITED STATES OF AMERICA SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Application of Northeast Utilities ) CERTIFICATE PURSUANT TO RULE 24 and Northeast Generation Services Company ) UNDER THE PUBLIC UTILITY HOLDING on Form U-1 ) COMPANY ACT OF 1935 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. 35-27148, March 7, 2000, File No. 70-9543) ("Order"). For the quarter ended March 31, 2004, the following information is reported pursuant to the Order. 1) A computation in accordance with rule 53(a) (as modified by the Commission's order in this proceeding) of NU's aggregate investment in EWGs. As of March 31, 2004, NU's aggregate investment in EWGs was approximately $448.2 million, or 54.3% of its average Consolidated Retained Earnings for the most recent four quarters of approximately $825.7 million. 2) Consolidated capitalization ratios of NU as of the end of that quarter, with consolidated debt to include all short-term debt and non-recourse debt of the EWG: NU Consolidated Capitalization -------------------------------------------------------------------------- As of March 31, 2004 -------------------------------------------------------------------------- (Thousands of Dollars) % --- Common shareholders' equity $2,333,356 34.4% Preferred stock 116,200 1.7 Long-term and short-term debt 2,642,413 39.0 Rate reduction bonds 1,682,500 24.9 ---------- ----- $6,774,469 100.0% ========== ===== 3) Analysis of the growth in consolidated retained earnings which segregates total earnings growth of Northeast Generation Company (NGC) from that attributable to other subsidiaries of NU. Retained earnings statement as of March 31, 2004: -------------------------------------------------------------------------- NGC NU Consolidated -------------------------------------------------------------------------- (Thousands of Dollars) Beginning balance as of January 1, 2004 $31,766 $808,932 Additions: Net income 9,852 67,442 Deductions: Dividends declared-common shares 7,000 19,177 ------- -------- Ending balance as of March 31, 2004 $34,618 $857,197 ======= ======== -------------------------------------------------------------------------- 4) A statement of revenues and net income for the EWG for the twelve months ending as of the end of that quarter. ------------------------------------------------------------------- Twelve Months Ended March 31, 2004 NGC ------------------------------------------------------------------- (Thousands of Dollars) Revenues $146,843 Net Income $ 38,343 ------------------------------------------------------------------- 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 /s/ John P. Stack ------------------------------------------ Vice President - Accounting and Controller Northeast Utilities P.O. Box 270 Hartford, CT 06141-0270 May 27, 2004 -----END PRIVACY-ENHANCED MESSAGE-----