-----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, R8AP5GZbKvmS97r9OcgmNf4SgWuW5TZNK4x0BtNJWdQu176ZsiSXeZBj/XIf+6eF YcXJ/9Jj8jNVZuwVmMGEGg== 0000072741-98-000159.txt : 19981116 0000072741-98-000159.hdr.sgml : 19981116 ACCESSION NUMBER: 0000072741-98-000159 CONFORMED SUBMISSION TYPE: 35-CERT PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19981113 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: SEC FILE NUMBER: 070-08076 FILM NUMBER: 98749257 BUSINESS ADDRESS: STREET 1: 174 BRUSH HILL AVE CITY: WEST SPRINGFIELD STATE: MA ZIP: 01090-0010 BUSINESS PHONE: 4137855871 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, 1998 to Natick, MA 01760 September 30, 1998 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, 1998. 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 20th day of October 1998. HEC Inc. By:/s/Linda A. Jensen Vice President - Finance EXHIBIT A HEC INC. BALANCE SHEET - September 30, 1998 ASSETS CURRENT ASSETS: 1998 ----------- Cash and cash equivalents $ 983,945 Contract receivables, current, less allowance for uncollectibles of $296,854 5,910,317 Other current assets 137,937 ----------- Total current assets 7,032,199 ----------- PROPERTY AND EQUIPMENT 4,244,037 Less accumulated depreciation and amortization 2,896,940 ----------- Net property and equipment 1,347,097 ----------- OTHER ASSETS 119,956 TOTAL ASSETS $ 8,499,252 =========== LIABILITIES AND STOCKHOLDER'S EQUITY CURRENT LIABILITIES: Accounts Payable $1,158,094 Accrued Expenses 244,871 Accured Income Taxes 212,437 Short-Term Borrowing NU Moneypool 2,350,000 ----------- Total current liabilities 3,965,402 ----------- OTHER LIABILITIES: Deferred income tax liability 485,075 Other 868,880 ----------- Total other liabilities 1,353,955 ----------- 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 (1,316) Accumulated Deficit (818,889) ----------- Total stockholder's equity 3,179,895 TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY $ 8,499,252 ============ HEC INC. STATEMENT OF OPERATION FOR THE QUARTER ENDED SEPTEMBER 30, 1998 REVENUES $ 6,025,438 COST OF REVENUES 5,174,915 ---------- Gross profit 850,523 SELLING, GENERAL AND ADMINISTRATIVE EXPENSES 1,091,010 ---------- Operating income (240,487) ---------- INTEREST INCOME (EXPENSE) Interest income 47,371 Interest expense (37,367) ---------- 10,004 ---------- Income before income tax expense (230,483) INCOME TAX EXPENSE 2,158 Net Income (Loss) $(228,325) ========== EXHIBIT B HEC INC. REPORT FOR JULY 1 - SEPTEMBER 30, 1998 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 in the operation of energy efficient equipment and identification of energy efficiency opportunities; 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. -----END PRIVACY-ENHANCED MESSAGE-----