-----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, UZ9UvHt8sSb5i6Myny1ioNbFSWecwnLurgxsQT5PDPqyjnFdXppGwIDqJcDQcSfj H5XKtcd0xCDd0FH3kBsB4A== 0000072741-96-000156.txt : 19961120 0000072741-96-000156.hdr.sgml : 19961120 ACCESSION NUMBER: 0000072741-96-000156 CONFORMED SUBMISSION TYPE: 35-CERT PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19961115 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: 35-CERT SEC ACT: 1935 Act SEC FILE NUMBER: 070-08076 FILM NUMBER: 96667809 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 HEC INC. QTRYLY RPT FILING UNDER RULE 24 OF 35 ACT UNITED STATES OF AMERICA before the SECURITIES AND EXCHANGE COMMISSION PUBLIC UTILITY HOLDING COMPANY ACT OF 1935 In the matter of HEC Inc. Report for Period 24 Prime Parkway July 1, 1996 to Natick, MA 01760 September 30, 1996 Pursuant to Rule 24 File Nos. 70-8076 and 70-8086 This report is filed under Rule 24 of the Public Utility Holding Company Act of 1935 by HEC Inc.(HEC), a wholly owned subsidiary of Northeast Utilities, a registered holding company. Pursuant to HCAR Nos. 35-26108, 35-26335, 35- 26564 (the "Orders"), HEC is authorized to provide energy management services, demand side management services and consulting services. HEC is required to report quarterly on services provided during the previous quarter. Accordingly, this report includes the following information: 1. A summary balance sheet and an income statement (unaudited) for the three-month period ended September 30, 1996. See Exhibit A. 2. A narrative description of HEC's activities undertaken during the quarter and the type of customers for which services were rendered. Exhibit B. As requested by order of this Commission pursuant to the Public Utility Holding Company Act of 1935, HEC has duly caused this report to be signed on the 22nd day of October 1996. HEC Inc. By:/s/Linda A. Jensen Vice President - Finance EXHIBIT A HEC INC. BALANCE SHEET - September 30, 1996 ASSETS CURRENT ASSETS: 1996 ----------- Cash and cash equivalents $1,509,851 Contract receivables, current, less allowance for uncollectibles of $298,000 6,938,243 Unbilled contracts receivable 1,237,476 Other current assets 367,770 ----------- Total current assets 10,053,340 ----------- PROPERTY AND EQUIPMENT 3,910,916 Less accumulated depreciation and amortization 2,026,479 ----------- Net property and equipment 1,884,437 ----------- OTHER ASSETS 45,156 TOTAL ASSETS $11,982,933 =========== LIABILITIES AND STOCKHOLDER'S EQUITY CURRENT LIABILITIES: Accounts Payable $5,886,067 Accrued Expenses 766,187 Accured Income Taxes 58,177 Short-Term Borrowing NU Moneypool 725,000 ----------- Total current liabilities 7,435,432 ----------- OTHER LIABILITIES: Deferred income tax liability 397,345 Other 430,482 ----------- Total other liabilities 827,827 ----------- COMMITMENTS AND CONTINGENCIES STOCKHOLDER'S EQUITY Common stock, $1 par value. Authorized and issued 100 shares 100 Additional paid-in-capital 4,000,000 Foreign Currency Exchange 98 Accumulated Deficit (280,524) ----------- Total stockholder's equity 3,719,675 TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY $11,982,933 ============ HEC INC. STATEMENT OF OPERATION FOR THE QUARTER ENDED SEPTEMBER 30, 1996 REVENUES $12,635,156 COST OF REVENUES 11,735,552 ---------- Gross profit 899,604 SELLING, GENERAL AND ADMINISTRATIVE EXPENSES 799,979 ---------- Operating income 99,625 ---------- INTEREST INCOME (EXPENSE) Interest income 48,616 Interest expense (16,017) ---------- 32,599 ---------- Income before income tax expense 132,224 INCOME TAX EXPENSE 24,216 Net Income (Loss) $108,008 ========== EXHIBIT B HEC INC. REPORT FOR JULY 1 - SEPTEMBER 30, 1996 NARRATIVE DESCRIPTION OF SERVICES Energy Management Services HEC provided the following services to clients in the period: energy audits (the identification of energy and other resource cost reduction opportunities); design of energy conservation measures including energy efficient lighting, energy efficient motors, energy management systems, heating, ventilating and air conditioning equipment retrofits, variable speed drives; the management of and direct installation of energy conservation equipment of the same type designed; assistance in identifying and arranging third-party financing for project installations; training of client personnel in the operation of installed equipment; system commissioning and reporting of program results. The majority of these services were performed for schools, hospitals and other municipal facilities under utility-sponsored programs. Other services provided consisted primarily of evaluation of various heating and/or air conditioning equipment configurations for customers or utilities and monitoring and/or evaluating the demand side management program installations of non-affiliated utilities. HEC consulting activities consisted primarily of design and specification of energy consuming equipment for clients including schools, hospitals and commercial facilities. -----END PRIVACY-ENHANCED MESSAGE-----