-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: keymaster@town.hall.org Originator-Key-Asymmetric: MFkwCgYEVQgBAQICAgADSwAwSAJBALeWW4xDV4i7+b6+UyPn5RtObb1cJ7VkACDq pKb9/DClgTKIm08lCfoilvi9Wl4SODbR1+1waHhiGmeZO8OdgLUCAwEAAQ== MIC-Info: RSA-MD5,RSA, qEVcEqFQakORwqilSGw/em8i9HRjEeFnXK+bC6s7E/+DGmNC4uqtjLwnEzJSrEQD /qJeTzSjO4T0aqoDGhw1iQ== 0000072741-94-000079.txt : 19941125 0000072741-94-000079.hdr.sgml : 19941125 ACCESSION NUMBER: 0000072741-94-000079 CONFORMED SUBMISSION TYPE: 35-CERT PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19941122 SROS: NYSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: NORTHEAST UTILITIES CENTRAL INDEX KEY: 0000072741 STANDARD INDUSTRIAL CLASSIFICATION: 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: 070-08062 FILM NUMBER: 94561540 BUSINESS ADDRESS: STREET 1: 174 BRUSH HILL AVE CITY: WEST SPRINGFIELD STATE: MA ZIP: 01090-0010 BUSINESS PHONE: 2036655000 MAIL ADDRESS: STREET 1: 107 SELDON ST CITY: BERLIN STATE: CT ZIP: 06037-1616 35-CERT 1 COE, INC. QTRYLY RPT FILING UNDER RULE 24 OF 35 ACT UNITED STATES OF AMERICA SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Application of Northeast ) ) CERTIFICATE PURSUANT TO Utilities, Charter Oak Energy ) RULE 24 UNDER THE PUBLIC ) UTILITY HOLDING COMPANY ACT Inc. and COE Development ) OF 1935 ) Corp. on Form U-1 ) ) (File No. 70-8062) ) Pursuant to the requirements of Rule 24 under the Public Utility Holding Company Act of 1935, Charter Oak Energy, Inc. ("Charter Oak"), a wholly-owned subsidiary of Northeast Utilities ("NU"), a registered holding company, hereby files this quarterly report as required by the Securities and Exchange Commission's supplemental order authorizing preliminary development activities and financing related to such activities and to acquisitions of interests in exempt wholesale generators ("EWGs") and foreign utility companies ("FUCOs") by Charter Oak (HCAR. No. 25977, January 24, 1994, File No. 70-8062; HCAR. No. 26116, September 2, 1994, File No. 70-8062; and HCAR. No. 26134, September 30, 1994, File No. 70-8062). (1) BALANCE SHEET AS OF SEPTEMBER 30, 1994: See Attached. (2) INCOME STATEMENT FOR THE QUARTER ENDED SEPTEMBER 30, 1994: See Attached. (3) GENERAL DESCRIPTION OF THE ACTIVITIES OF CHARTER OAK FOR THE QUARTER ENDED SEPTEMBER 30, 1994, AND OF THE PROJECTS IN WHICH CHARTER OAK OR ITS SUBSIDIARIES HAVE AN INTEREST. During the third quarter of 1994, pursuant to the permission granted by the Commission in the December 30, 1992 (HCAR. No. 25726), January 24 (HCAR. No. 25977), September 2, 1994 (HCAR. No. 26116), and September 30, 1994 (HCAR. No. 26134) orders, Charter Oak, through its wholly-owned subsidiary COE Development Corporation ("COE Development"), has participated in preliminary development activities for potential qualifying cogeneration and small power production facilities (collectively, "QFs"), independent power projects ("IPPs"), EWGs, and FUCOs. These activities have been performed by COE Development both on its own and with unaffiliated third parties. The relationships between COE Development and such unaffiliated third parties have been in the form of cost-sharing contractual arrangements and have not involved the formation of corporations, partnerships, joint ventures or other business entities. On January 24, 1994, September 2, 1994, and September 30, 1994 the Commission authorized NU to make investments in Charter Oak, and Charter Oak to make investments in COE Development, in the amount of up to $100 million, through December 30, 1994, for preliminary development activities and for acquisitions of interests in QFs, EWGs, FUCOs, and IPPs. This authorization includes preliminary development of domestic projects as well as investments in EWGs and FUCOs. COE Development is engaged in development activities associated with an 114 MW natural gas-fired project located in the Republic of Argentina. Charter Oak, through its wholly-owned subsidiary Charter Oak (Paris), Inc., pursuant to the permission granted by the Commission (HCAR. No. 24893), has an approximately 10% beneficial equity ownership interest in a 213 MW gas-fired operational qualifying cogeneration facility in Paris, Texas. On September 24, 1993, NU was granted permission (HCAR. No. 70-8084) to invest up to $7 million in Charter Oak for the purchase of an interest in two non-utility subsidiaries to own an interest in a foreign utility company, Encoe Partners. Encoe Partners is a general partnership formed for the sole purpose of building, owning and operating a power generating facility in the United Kingdom ("Power Plant") and acquiring a one-third interest in certain rights and obligations under a power contract. The Power Plant is 2.176 MW and will produce power by harnessing the pressure in the natural gas pipeline feeding the 1,875 MW Teesside Project in Teesside, Wilton, Cleveland, England. This transaction was completed by Charter Oak on the close of business on September 30, 1993 by acquiring interests in two non-utility subsidiary companies, COE (UK) Corp. and COE (GENCOE) Corp. At this time, none of the other projects Charter Oak is currently pursuing are sufficiently defined enough to move beyond the preliminary development stage and therefore are not contained in this report. 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. Charter Oak Energy, Inc. /s/ Eugene G. Vertefeuille Principal Charter Oak Energy, Inc. 34 Hopmeadow Street P.O. Box 576 Simsbury, CT 06070-0576 November 30, 1994 CHARTER OAK ENERGY, INC. AND SUBSIDIARIES ----------------------------------------- CONSOLIDATED BALANCE SHEETS (UNAUDITED) --------------------------------------- September 30, --------------------------- 1994 1993 ------------ ------------ (Thousands of Dollars) ASSETS - ------ Utility Plant, at original cost: Electric $ 52 $ 52 Less: Accumulated provision for depreciation 44 42 ------------ ------------ Total net utility plant 8 10 ------------ ------------ Other Investments, at cost 6,267 7,416 ------------ ------------ Current Assets: Cash 6,329 2,171 Receivables from affiliated companies 1 2,038 ------------ ------------ 6,330 4,209 ------------ ------------ Deferred Charges: Accumulated deferred income taxes 529 399 Deferred development costs 2,447 2,954 Other 858 1,059 ------------ ------------ 3,834 4,412 ------------ ------------ Total Assets $ 16,439 $ 16,047 ============ ============ CAPITALIZATION AND LIABILITIES - ------------------------------ Capitalization: Common stock $ - $ - Capital surplus, paid in 25,236 22,050 Retained earnings (9,875) (6,532) ------------ ------------ Total capitalization 15,361 15,518 ------------ ------------ Minority interest in common equity of subsidiaries 48 129 ------------ ------------ Current Liabilities: Accounts payable 1 - Accounts payable to affiliated companies 132 118 Taxes accrued 836 256 Other 61 26 ------------ ------------ 1,030 400 ------------ ------------ Total Capitalization and Liabilities $ 16,439 $ 16,047 ============ ============ CHARTER OAK ENERGY, INC. AND SUBSIDIARIES ----------------------------------------- CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) --------------------------------------------- Three Months Ended September 30, --------------------------- 1994 1993 ------------ ------------ (Thousands of Dollars) Operating Revenues $ - $ - ------------ ------------ Operating Expenses: Operation and maintenance 1,788 1,503 Depreciation 162 2 Federal and state income taxes (859) (565) Taxes other than income taxes 7 5 ------------ ------------ Total operating expenses 1,098 945 ------------ ------------ Operating Loss (1,098) (945) ------------ ------------ Other Income: Investment income 323 264 Other, net 17 9 ------------ ------------ Total other income 340 273 ------------ ------------ Loss before interest charges (758) (672) ------------ ------------ Interest Charges 2 1 ------------ ------------ Loss before minority interest in earnings (760) (673) in subsidary Minority interest in earnings in subsidary (8) - ------------ ------------ Net Loss $ (752) $ (673) ============ ============ -----END PRIVACY-ENHANCED MESSAGE-----