-----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, C2ZnV9lYxkKbT9UqJk9XDuqByJ56caflzy44W+UT/wOLFEABbWOVmHaXgdbJVlmE qBIuUQMSV9asBRfpx9vICg== 0000072741-96-000132.txt : 19960828 0000072741-96-000132.hdr.sgml : 19960828 ACCESSION NUMBER: 0000072741-96-000132 CONFORMED SUBMISSION TYPE: U-1/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19960827 SROS: NYSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: NORTHEAST UTILITIES 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: U-1/A SEC ACT: 1935 Act SEC FILE NUMBER: 070-08895 FILM NUMBER: 96621122 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 U-1/A 1 AMENDMENT NO. 1 TO FORM U-1 FILE No. 70-8895 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 AMENDMENT NO. 1 TO APPLICATION/DECLARATION ON FORM U-1 Under THE PUBLIC UTILITY HOLDING COMPANY ACT OF 1935 NORTHEAST UTILITIES HOLYOKE WATER POWER COMPANY 174 Brush Hill Avenue 1 Canal Street West Springfield, MA 01090-0010 Holyoke, MA 01040 THE CONNECTICUT LIGHT AND PUBLIC SERVICE COMPANY POWER COMPANY OF NEW HAMPSHIRE 107 Selden Street 1000 Elm Street Berlin, CT 06037 Manchester, NH 03101 WESTERN MASSACHUSETTS NORTH ATLANTIC ELECTRIC COMPANY ENERGY CORPORATION 174 Brush Hill Avenue 1000 Elm Street West Springfield, MA 01090-0010 Manchester, NH 03101 (Names of companies filing this application and addresses of principal offices) NORTHEAST UTILITIES (Name of top registered holding company) Jeffrey C. Miller Assistant General Counsel Northeast Utilities Service Company 107 Selden Street Berlin, CT 06037 (Name and address of agent for service) The Commission is requested to mail signed copies of all orders, notices and communications to: Jane P. Seidl David R. McHale Senior Counsel Assistant Treasurer Northeast Utilities Service Northeast Utilities Service Company Company 107 Selden Street 107 Selden Street Berlin, CT 06037 Berlin, CT 06037 The Application/Declaration in this proceeding is hereby amended as follows: 1. The following financial statements are filed herewith: (b). Financial Statements 1. Northeast Utilities (parent only) 1.1 Balance Sheet, per books, as of June 30, 1996 1.2 Statement of Income, per books, for the twelve months ended June 30, 1996 2. Northeast Utilities and Subsidiaries (consolidated) 2.1 Balance Sheet, per books, as of June 30, 1996 2.2 Statement of Income, per books, for the twelve months ended June 30, 1996 3. The Connecticut Light and Power Company 3.1 Balance Sheet, per books, as of June 30, 1996 3.2 Statement of Income, per books, for the twelve months ended June 30, 1996 4. Western Massachusetts Electric Company 4.1 Balance Sheet, per books, as of June 30, 1996 4.2 Statement of Income, per books, for the twelve months ended June 30, 1996 5. Holyoke Water Power Company 5.1 Balance Sheet, per books, as of June 30, 1996 5.2 Statement of Income, per books, for the twelve months ended June 30, 1996 6. Public Service Company of New Hampshire 6.1 Balance Sheet, per books, as of June 30, 1996 6.2 Statement of Income, per books, for the twelve months ended June 30, 1996 7. North Atlantic Energy Corporation 7.1 Balance Sheet, per books, as of June 30, 1996 7.2 Statement of Income, per books, for the twelve months ended June 30, 1996 SIGNATURES Pursuant to the requirements of the Public Utility Holding Company Act of 1935, as amended, the undersigned have duly caused this Application to be signed on behalf of each of them by the undersigned thereunto duly authorized. NORTHEAST UTILITIES THE CONNECTICUT LIGHT AND POWER COMPANY WESTERN MASSACHUSETTS ELECTRIC COMPANY PUBLIC SERVICE COMPANY OF NEW HAMPSHIRE HOLYOKE WATER POWER COMPANY NORTH ATLANTIC ENERGY CORPORATION By: /s/David R. McHale Assistant Treasurer Date: August 27, 1996 NORTHEAST UTILITIES (PARENT) - b.1.1 BALANCE SHEET (Unaudited) June 30, 1996 ------------- (Thousands of Dollars) ASSETS - ------ Other Property and Investments: Investments in subsidiary companies, at equity....... $ 2,644,400 Investments in transmission companies, at equity..... 22,753 Other, at cost....................................... 946 ------------- 2,668,099 ------------- Current Assets: Cash................................................. 16 Notes receivable from affiliated companies........... 7,225 Accounts receivable from affiliated companies........ 659 Prepayments.......................................... 339 ------------- 8,239 ------------- Deferred Charges: Accumulated deferred income taxes.................... 7,606 Other................................................ 49 ------------- 7,655 ------------- Total Assets..................................... $ 2,683,993 ============= NORTHEAST UTILITIES (PARENT) BALANCE SHEET (Unaudited) June 30, 1996 ------------- (Thousands of Dollars) CAPITALIZATION AND LIABILITIES - ------------------------------ Capitalization: Common shares, $5.00 par value--Authorized 225,000,000 shares; 136,051,911 shares issued and 127,942,639 shares outstanding...................... $ 680,260 Capital surplus, paid in............................. 943,266 Deferred benefit plan--employee stock ownership plan...................................... (187,706) Retained earnings.................................... 972,293 ------------- Total common shareholders' equity.................. 2,408,113 Long-term debt....................................... 204,000 ------------- Total capitalization.......................... 2,612,113 ------------- Current Liabilities: Notes payable to banks............................... 40,000 Accounts payable..................................... 4,114 Accounts payable to affiliated companies............. 871 Long term debt--current portion...................... 14,000 Accrued taxes........................................ 9,457 Accrued interest..................................... 2,898 Other................................................ 6 ------------- 71,346 ------------- Other Deferred Credits................................. 534 ------------- Total Capitalization and Liabilities............. $ 2,683,993 ============= NORTHEAST UTILITIES (PARENT)- b.1.2 STATEMENT OF INCOME (Unaudited) Twelve Months Ended June 30, 1996 ------------- (Thousands of Dollars, except share information) Operating Revenues..................................... $ 0 ------------- Operating Expenses: Operation expense.................................... 11,349 Federal and state income taxes....................... (9,254) Taxes other than income taxes........................ 29 ------------- Total operating expenses........................ 2,124 ------------- Operating Income....................................... (2,124) ------------- Equity in earnings of subsidiaries................... 252,918 Equity in earnings of transmission companies......... 3,515 Other, net........................................... 268 ------------- Other income, net............................... 256,701 ------------- Income before interest charges.................. 254,577 ------------- Interest Charges: Interest on long-term debt........................... 19,174 Other interest....................................... 4,484 ------------- Interest charges............................... 23,658 ------------- Earnings for Common Shares............................. $ 230,919 ============= Earnings per Common Shares............................. $ 1.82 ============= Common Shares Outstanding (average) 127,212,419 ============= NORTHEAST UTILITIES AND SUBSIDIARIES - b.2.1 CONSOLIDATED BALANCE SHEET (Unaudited) June 30, 1996 ------------- (Thousands of Dollars) ASSETS - ------ Utility Plant, at cost: Electric................................................ $ 9,583,957 Other................................................... 189,478 ------------- 9,773,435 Less: Accumulated provision for depreciation......... 3,792,602 ------------- 5,980,833 Unamortized PSNH acquisition costs...................... 536,421 Construction work in progress........................... 143,557 Nuclear fuel, net....................................... 185,612 ------------- Total net utility plant............................. 6,846,423 ------------- Other Property and Investments: Nuclear decommissioning trusts, at market............... 345,464 Investments in regional nuclear generating companies, at equity................................... 82,752 Investments in transmission companies, at equity........ 22,753 Investments in Charter Oak Energy, Inc. projects........ 41,965 Other, at cost.......................................... 38,750 ------------- 531,684 ------------- Current Assets: Cash and cash equivalents............................... 275,808 Receivables, net........................................ 396,680 Accrued utility revenues................................ 123,170 Fuel, materials, and supplies, at average cost.......... 210,645 Prepayments and other................................... 59,170 ------------- 1,065,473 ------------- Deferred Charges: Regulatory assets: Income taxes,net...................................... 1,109,926 Deferred costs--nuclear plants........................ 177,257 Unrecovered contractual obligation.................... 77,039 Recoverable energy costs, net......................... 407,151 Deferred demand-side management costs................. 93,764 Cogeneration costs-CL&P............................... 85,969 Other................................................. 43,802 Unamortized debt expense................................ 37,296 Other .................................................. 67,713 ------------ 2,099,917 ------------ Total Assets.............................................. $ 10,543,497 ============ NORTHEAST UTILITIES AND SUBSIDIARIES CONSOLIDATED BALANCE SHEET (Unaudited) June 30, 1996 ------------- (Thousands of Dollars) CAPITALIZATION AND LIABILITIES - ------------------------------ Capitalization: Common shareholders' equity: Common shares, $5 par value--authorized 225,000,000 shares; 136,051,911 shares issued and 127,942,639 shares outstanding....................... $ 680,260 Capital surplus, paid in.............................. 943,266 Deferred benefit plan--employee stock ownership plan...................................... (187,706) Retained earnings..................................... 972,293 ------------- Total common shareholders' equity.............. 2,408,113 Preferred stock not subject to mandatory redemption..... 169,700 Preferred stock subject to mandatory redemption......... 276,000 Long-term debt.......................................... 3,686,267 ------------- Total capitalization........................... 6,540,080 ------------- Minority Interest in Consolidated Subsidiaries............ 99,926 ------------- Obligations Under Capital Leases.......................... 138,101 ------------- Current Liabilities: Notes payable to banks.................................. 90,000 Long-term debt and preferred stock--current portion................................................ 280,948 Obligations under capital leases--current portion................................................ 68,878 Accounts payable........................................ 321,118 Accrued taxes........................................... 66,513 Accrued interest........................................ 51,424 Accrued pension benefits................................ 91,279 Refundable energy costs................................. 42,752 Other................................................... 133,492 ------------- 1,146,404 ------------- Deferred Credits: Accumulated deferred income taxes....................... 2,115,943 Accumulated deferred investment tax credits............. 173,251 Deferred contractual obligation......................... 77,039 Other................................................... 252,753 ------------- 2,618,986 ------------- Total Capitalization and Liabilities........... $ 10,543,497 ============= NORTHEAST UTILITIES AND SUBSIDIARIES - b.2.2 CONSOLIDATED STATEMENT OF INCOME (Unaudited) Twelve Months Ended June 30, 1996 ------------- (Thousands of Dollars, except share information) Operating Revenues.................................... $ $3,865,627 ------------- Operating Expenses: Operation-- Fuel, purchased and net interchange power........ 982,766 Other............................................ 1,076,308 Maintenance......................................... 339,068 Depreciation........................................ 361,196 Amortization of regulatory assets, net.............. 107,500 Federal and state income taxes...................... 219,972 Taxes other than income taxes....................... 257,386 ------------- Total operating expenses...................... 3,344,196 ------------- Operating Income...................................... 521,431 ------------- Other Income: Deferred nuclear plants return--other funds......... 12,313 Equity in earnings of regional nuclear generating and transmission companies....................... 14,302 Other, net.......................................... 15,507 Income taxes........................................ (8,682) ------------- Other income, net............................. 33,440 ------------- Income before interest charges................ 554,871 ------------- Interest Charges: Interest on long-term debt.......................... 298,356 Other interest...................................... 12,488 Deferred nuclear plants return--borrowed funds...... (20,496) ------------- Interest charges, net......................... 290,348 ------------- Income after interest charges.................. 264,523 Preferred Dividends of Subsidiaries................... 33,604 ------------- Net Income............................................ $ $230,919 ============= Earnings Per Common Share............................. $ $1.82 ============= Common Shares Outstanding (average)................... 127,212,419 ============= THE CONNECTICUT LIGHT AND POWER COMPANY AND SUBSIDIARIES - b.3.1 CONSOLIDATED BALANCE SHEET (Unaudited) June 30, 1996 ------------- (Thousands of Dollars) ASSETS - ------ Utility Plant, at original cost: Electric................................................ $ 6,209,561 Less: Accumulated provision for depreciation......... 2,526,403 ------------- 3,683,158 Construction work in progress........................... 86,952 Nuclear fuel, net....................................... 130,890 ------------- Total net utility plant............................. 3,901,000 ------------- Other Property and Investments: Nuclear decommissioning trusts, at market............... 252,766 Investments in regional nuclear generating companies, at equity................................... 55,108 Other, at cost.......................................... 15,320 ------------- 323,194 ------------- Current Assets: Cash.................................................... 209 Notes receivable from affiliated companies.............. 187,950 Receivables, net........................................ 212,883 Accounts receivable from affiliated companies........... 3,516 Accrued utility revenues................................ 77,917 Fuel, materials, and supplies, at average cost.......... 83,628 Prepayments and other................................... 46,704 ------------- 612,807 ------------- Deferred Charges: Regulatory assets: Income taxes,net...................................... 838,262 Unrecovered contractual obligation.................... 49,025 Deferred demand-side management costs................. 93,764 Recoverable energy costs, net......................... 131,632 Cogeneration costs.................................... 85,969 Other................................................. 68,938 Unamortized debt expense................................ 16,265 Other................................................... 13,867 ------------- 1,297,722 ------------- Total Assets........................................ $ 6,134,723 ============= THE CONNECTICUT LIGHT AND POWER COMPANY AND SUBSIDIARIES CONSOLIDATED BALANCE SHEET (Unaudited) June 30, 1996 ------------- (Thousands of Dollars) CAPITALIZATION AND LIABILITIES - ------------------------------ Capitalization: Common stock--$10 par value. Authorized 24,500,000 shares; outstanding 12,222,930 shares................................................. $ 122,229 Capital surplus, paid in................................ 638,820 Retained earnings....................................... 696,488 ------------- Total common stockholder's equity.............. 1,457,537 Preferred stock not subject to mandatory redemption............................................. 116,200 Preferred stock subject to mandatory redemption......... 155,000 Long-term debt.......................................... 1,834,974 ------------- Total capitalization........................... 3,563,711 ------------- Minority Interest in Consolidated Subsidiary.............. 100,000 ------------- Obligations Under Capital Leases.......................... 102,265 ------------- Current Liabilities: Long-term debt and preferred stock--current portion................................................ 203,362 Obligations under capital leases--current portion................................................ 52,360 Accounts payable........................................ 108,430 Accounts payable to affiliated companies................ 41,105 Accrued taxes........................................... 14,069 Accrued interest........................................ 30,527 Other................................................... 65,583 ------------- 515,436 ------------- Deferred Credits: Accumulated deferred income taxes....................... 1,452,202 Accumulated deferred investment tax credits............. 138,763 Deferred contractual obligation......................... 49,025 Deferred nuclear outage costs........................... 65,486 Other................................................... 147,835 ------------- 1,853,311 ------------- Total Capitalization and Liabilities........... $ 6,134,723 ============= THE CONNECTICUT LIGHT AND POWER COMPANY AND SUBSIDIARIES - b.3.2 CONSOLIDATED STATEMENT OF INCOME (Unaudited) Twelve Months Ended June 30, 1996 ------------- (Thousands of Dollars) Operating Revenues.................................... $ 2,463,082 ------------- Operating Expenses: Operation -- Fuel, purchased and net interchange power........ 686,524 Other............................................ 709,296 Maintenance......................................... 239,247 Depreciation........................................ 247,659 Amortization of regulatory assets, net.............. 39,788 Federal and state income taxes...................... 127,410 Taxes other than income taxes....................... 176,016 ------------- Total operating expenses...................... 2,225,940 ------------- Operating Income...................................... 237,142 ------------- Other Income: Deferred nuclear plants return--other funds......... 3,194 Equity in earnings of regional nuclear generating companies......................................... 7,277 Other, net.......................................... 6,913 Income taxes........................................ (6,267) ------------- Other income, net............................. 11,117 ------------- Income before interest charges................ 248,259 ------------- Interest Charges: Interest on long-term debt.......................... 122,037 Other interest...................................... 3,729 Deferred nuclear plants return--borrowed funds...... (908) ------------- Interest charges, net......................... 124,858 ------------- Net Income............................................ $ 123,401 ============= WESTERN MASSACHUSETTS ELECTRIC COMPANY - b.4.1 BALANCE SHEET (Unaudited) June 30, 1996 ------------- (Thousands of Dollars) ASSETS - ------ Utility Plant, at original cost: Electric................................................ $ 1,247,314 Less: Accumulated provision for depreciation......... 480,336 ------------- 766,978 Construction work in progress........................... 15,017 Nuclear fuel, net....................................... 30,002 ------------- Total net utility plant............................. 811,997 ------------- Other Property and Investments: Nuclear decommissioning trusts, at market............... 73,390 Investments in regional nuclear generating companies, at equity................................... 14,955 Other, at cost.......................................... 4,291 ------------- 92,636 ------------- Current Assets: Cash.................................................... 123 Receivables, net........................................ 39,428 Accounts receivable from affiliated companies........... 790 Accrued utility revenues................................ 13,079 Fuel, materials, and supplies, at average cost.......... 5,328 Recoverable energy costs, net--current portion.......... 8,366 Prepayments and other................................... 8,894 ------------- 76,008 ------------- Deferred Charges: Regulatory assets: Income taxes, net...................................... 81,769 Unrecovered contractual obligation..................... 14,007 Recoverable energy costs............................... 10,927 Other.................................................. 29,922 Unamortized debt expense................................ 1,402 Other................................................... 143 ------------- 138,170 ------------- Total Assets........................................ $ 1,118,811 ============= WESTERN MASSACHUSETTS ELECTRIC COMPANY BALANCE SHEET (Unaudited) June 30, 1996 ------------- (Thousands of Dollars) CAPITALIZATION AND LIABILITIES - ------------------------------ Capitalization: Common stock--$25 par value. Authorized and outstanding 1,072,471 shares............ $ 26,812 Capital surplus, paid in................................ 150,324 Retained earnings....................................... 116,010 ------------- Total common stockholder's equity.............. 293,146 Preferred stock not subject to mandatory redemption..... 53,500 Preferred stock subject to mandatory redemption......... 21,000 Long-term debt.......................................... 333,739 ------------- Total capitalization........................... 701,385 ------------- Obligations Under Capital Leases.......................... 19,471 ------------- Current Liabilities: Notes payable to affiliated company..................... 3,000 Long-term debt and preferred stock--current portion................................................ 16,200 Obligations under capital leases--current portion................................................ 12,469 Accounts payable........................................ 13,353 Accounts payable to affiliated companies................ 10,154 Accrued taxes........................................... 11,804 Accrued interest........................................ 5,597 Other................................................... 17,805 ------------- 90,382 ------------- Deferred Credits: Accumulated deferred income taxes....................... 247,086 Accumulated deferred investment tax credits............. 25,568 Deferred contractual obligation......................... 14,007 Other................................................... 20,912 ------------- 307,573 ------------- Total Capitalization and Liabilities........... $ 1,118,811 ============= WESTERN MASSACHUSETTS ELECTRIC COMPANY - b.4.2 STATEMENT OF INCOME (Unaudited) Twelve Months Ended June 30, 1996 ------------- (Thousands of Dollars) Operating Revenues.................................... $ 430,555 ------------- Operating Expenses: Operation -- Fuel, purchased and net interchange power........ 89,061 Other............................................ 149,739 Maintenance......................................... 46,736 Depreciation........................................ 38,717 Amortization of regulatory assets................... 12,586 Federal and state income taxes...................... 15,397 Taxes other than income taxes....................... 19,249 ------------- Total operating expenses...................... 371,485 ------------- Operating Income...................................... 59,070 ------------- Other Income: Equity in earnings of regional nuclear generating companies......................................... 1,979 Other, net.......................................... 86 Income taxes........................................ 110 ------------- Other income, net............................. 2,175 ------------- Income before interest charges................ 61,245 ------------- Interest Charges: Interest on long-term debt.......................... 24,827 Other interest...................................... 525 ------------- Interest charges, net......................... 25,352 ------------- Net Income............................................ $ 35,893 ============= HOLYOKE WATER POWER COMPANY AND SUBSIDIARY - b.5.1 CONSOLIDATED BALANCE SHEET (Unaudited) June 30, 1996 ------------- (Thousands of Dollars) ASSETS - ------ Utility Plant, at original cost: Electric......................................... $ 95,574 Less: Accumulated provision for depreciation.. 40,555 ------------- 55,019 Construction work in progress...................... 1,758 ------------- Total net utility plant...................... 56,777 ------------- Other Property and Investments: Nonutility property, at cost..................... 3,355 Other investments, at cost....................... 2 ------------- 3,357 ------------- Current Assets: Cash ............................................ 123 Notes receivable from affiliated companies....... 8,750 Accounts receivable.............................. 4,618 Accounts receivable from affiliated companies.... 35 Fuel, materials, and supplies, at average cost... 5,629 Prepayments and other............................ 118 ------------- 19,273 ------------- Deferred Charges: Unamortized debt expense......................... 972 Deferred charges--SFAS 109....................... 2,489 Other............................................ 258 ------------- 3,719 ------------- Total Assets................................. $ 83,126 ============= HOLYOKE WATER POWER COMPANY AND SUBSIDIARY CONSOLIDATED BALANCE SHEET (Unaudited) June 30, 1996 ------------- (Thousands of Dollars) CAPITALIZATION AND LIABILITIES - ------------------------------ Capitalization: Common stock--$5.00 par value. Authorized 1,200,000 shares; outstanding 480,000 shares.......................................... $ 2,400 Capital surplus, paid in......................... 6,000 Retained earnings................................ 12,680 ------------- Total common stockholder's equity....... 21,080 Long-term debt,net............................... 38,300 ------------- Total capitalization.................... 59,380 ------------- Current Liabilities: Accounts payable................................. 1,753 Accounts payable to affiliated companies......... 462 Accrued taxes.................................... 1,433 Accrued interest................................. 231 Accrued pension benefits......................... 927 Other............................................ 382 ------------- 5,188 ------------- Deferred Credits: Accumulated deferred income taxes ............... 12,605 Accumulated deferred investment tax credits...... 2,860 Other............................................ 3,093 ------------- 18,558 ------------- Total Capitalization and Liabilities.... $ 83,126 ============= HOLYOKE WATER POWER COMPANY AND SUBSIDIARY - b.5.2 CONSOLIDATED STATEMENT OF INCOME (Unaudited) Twelve Months Ended June 30, 1996 ------------- (Thousands of Dollars) Operating Revenues.................................... $ 33,844 ------------- Operating Expenses: Operation -- Fuel, purchased and net interchange power........ 16,481 Other............................................ 9,515 Maintenance......................................... 3,291 Depreciation........................................ 1,981 Federal and state income taxes...................... (1,197) Taxes other than income taxes....................... 2,187 ------------- Total operating expenses...................... 32,258 ------------- Operating Income...................................... 1,586 ------------- Other Income: Allowance for other funds used during construction.. 46 Other, net.......................................... 400 Income taxes........................................ (62) ------------- Other income, net............................. 384 ------------- Income before interest charges................ 1,970 ------------- Interest Charges: Interest on long-term debt.......................... 1,603 Other interest...................................... 2 Allowance for borrowed funds used during construction...................................... (26) ------------- Interest charges, net......................... 1,579 ------------- Net Income............................................ $ 391 ============= PUBLIC SERVICE COMPANY OF NEW HAMPSHIRE - b.6.1 BALANCE SHEET (Unaudited) June 30, 1996 ------------- (Thousands of Dollars) ASSETS - ------ Utility Plant, at cost: Electric................................................ $ 2,124,121 Less: Accumulated provision for depreciation......... 532,638 ------------- 1,591,483 Unamortized acquisition costs........................... 536,421 Construction work in progress........................... 13,720 Nuclear fuel, net....................................... 1,309 ------------- Total net utility plant............................. 2,142,933 ------------- Other Property and Investments: Nuclear decommissioning trusts, at market............... 2,707 Investments in regional nuclear generating companies and subsidiary company, at equity............ 19,128 Other, at cost.......................................... 1,810 ------------- 23,645 ------------- Current Assets: Cash.................................................... 287 Receivables, net........................................ 90,785 Accounts receivable from affiliated companies........... 922 Accrued utility revenues................................ 32,174 Fuel, materials, and supplies, at average cost.......... 38,812 Accumulated deferred income taxes--current portion...... 18,031 Prepayments and other................................... 26,640 ------------- 207,651 ------------- Deferred Charges: Regulatory assets: Income taxes, net...................................... 154,394 Unrecovered contractual obligation..................... 14,007 Recoverable energy costs............................... 262,342 Other.................................................. 2,357 Unamortized debt expense................................ 13,150 Deferred receivable from affiliated company............. 33,284 Other................................................... 4,496 ------------- 484,030 ------------- Total Assets........................................ $ 2,858,259 ============= PUBLIC SERVICE COMPANY OF NEW HAMPSHIRE BALANCE SHEET (Unaudited) June 30, 1996 ------------- (Thousands of Dollars) CAPITALIZATION AND LIABILITIES - ------------------------------ Capitalization: Common stock--$1 par value. Authorized and outstanding 1,000 shares................ $ 1 Capital surplus, paid in................................ 422,712 Retained earnings....................................... 162,945 ------------- Total common stockholder's equity.............. 585,658 Preferred stock subject to mandatory redemption......... 100,000 Long-term debt.......................................... 686,485 ------------- Total capitalization........................... 1,372,143 ------------- Obligations Under Seabrook Power Contracts and Other Capital Leases................................. 872,858 ------------- Current Liabilities: Notes payable to banks.................................. 50,000 Notes payable to affiliated company..................... 1,400 Long-term debt--current portion......................... 25,000 Obligations under Seabrook Power Contracts and other capital leases--current portion........................ 39,290 Accounts payable........................................ 31,915 Accounts payable to affiliated companies................ 21,124 Accrued taxes........................................... 18,296 Accrued interest........................................ 8,432 Accrued pension benefits................................ 40,740 Refundable energy costs................................. 50,299 Other................................................... 11,581 ------------- 298,077 ------------- Deferred Credits: Accumulated deferred income taxes....................... 239,071 Accumulated deferred investment tax credits............. 4,785 Deferred contractual obligation......................... 14,007 Deferred revenue from affiliated company................ 33,284 Other................................................... 24,034 ------------- 315,181 ------------- ------------- Total Capitalization and Liabilities........... $ 2,858,259 ============= PUBLIC SERVICE COMPANY OF NEW HAMPSHIRE - b.6.2 STATEMENT OF INCOME (Unaudited) Twelve Months Ended June 30, 1996 ------------- (Thousands of Dollars) Operating Revenues.................................... $ 1,026,222 ------------- Operating Expenses: Operation -- Fuel, purchased and net interchange power........ 278,064 Other............................................ 321,156 Maintenance......................................... 36,794 Depreciation........................................ 44,658 Amortization of regulatory assets, net.............. 56,038 Federal and state income taxes...................... 76,220 Taxes other than income taxes....................... 44,178 ------------- Total operating expenses...................... 857,108 ------------- Operating Income...................................... 169,114 ------------- Other Income: Equity in earnings of regional nuclear generating companies and subsidiary company.................. 1,900 Other, net.......................................... 9,518 Income taxes........................................ (4,450) ------------- Other income, net............................. 6,968 ------------- Income before interest charges................ 176,082 ------------- Interest Charges: Interest on long-term debt.......................... 69,061 Other interest...................................... 6,950 ------------- Interest charges, net......................... 76,011 ------------- Net Income............................................ $ 100,071 ============= NORTH ATLANTIC ENERGY CORPORATION - b.7.1 BALANCE SHEET (Unaudited) June 30, 1996 ------------- (Thousands of Dollars) ASSETS - ------ Utility Plant, at original cost: Electric................................................ $ 774,785 Less: Accumulated provision for depreciation......... 109,981 ------------- 664,804 Construction work in progress........................... 5,146 Nuclear fuel, net....................................... 23,411 ------------- Total net utility plant............................. 693,361 ------------- Other Property and Investments: Nuclear decommissioning trusts, at market............... 16,601 Other, at cost.......................................... 222 ------------- 16,823 ------------- Current Assets: Cash.................................................... 13,424 Special deposits........................................ 2,617 Receivables from affiliated companies................... 13,265 Materials and supplies, at average cost................. 12,934 Prepayments and other................................... 5,258 ------------- 47,498 ------------- Deferred Charges: Regulatory assets: Deferred costs--Seabrook............................... 175,670 Income taxes, net...................................... 46,683 Recoverable energy costs............................... 2,250 Other regulatory assets................................ 28,643 Unamortized debt expense................................ 5,141 Other................................................... 239 ------------- 258,626 ------------- Total Assets........................................ $ 1,016,308 ============= NORTH ATLANTIC ENERGY CORPORATION BALANCE SHEET (Unaudited) June 30, 1996 ------------- (Thousands of Dollars) CAPITALIZATION AND LIABILITIES - ------------------------------ Capitalization: Common stock--$1 par value. Authorized and outstanding 1,000 shares.......................... $ 1 Capital surplus, paid in................................ 160,999 Retained earnings....................................... 63,223 ------------- Total common stockholder's equity.............. 224,223 Long-term debt.......................................... 520,000 ------------- Total capitalization........................... 744,223 ------------- Current Liabilities: Notes payable to affiliated company..................... 6,500 Long-term debt--current portion......................... 20,000 Accounts payable........................................ 5,178 Accounts payable to affiliated companies................ 128 Accrued interest........................................ 3,169 Accrued taxes........................................... 5,883 Other................................................... 303 ------------- 41,161 ------------- Deferred Credits: Accumulated deferred income taxes....................... 195,433 Deferred obligation to affiliated company............... 33,284 Other................................................... 2,207 ------------- 230,924 ------------- ------------- Total Capitalization and Liabilities........... $ 1,016,308 ============= NORTH ATLANTIC ENERGY CORPORATION - b.7.2 STATEMENT OF INCOME (Unaudited) Twelve Months Ended June 30, 1996 ------------- (Thousands of Dollars) Operating Revenues.................................... $ 162,608 ------------- Operating Expenses: Operation -- Fuel............................................. 13,099 Other............................................ 36,276 Maintenance......................................... 12,593 Depreciation........................................ 23,731 Federal and state income taxes...................... 11,288 Taxes other than income taxes....................... 12,091 ------------- Total operating expenses...................... 109,078 ------------- Operating Income...................................... 53,530 ------------- Other Income: Deferred Seabrook return--other funds............... 9,116 Other, net.......................................... 1,030 Income taxes........................................ 1,987 ------------- Other income, net............................. 12,133 ------------- Income before interest charges................ 65,663 ------------- Interest Charges: Interest on long-term debt.......................... 57,524 Other interest...................................... (491) Deferred Seabrook return--borrowed funds............ (19,576) ------------- Interest charges, net......................... 37,457 ------------- Net Income............................................ $ 28,206 ============= -----END PRIVACY-ENHANCED MESSAGE-----