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Proc-Type: 2001,MIC-CLEAR
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SECURITIES AND EXCHANGE COMMISSION Washington, D. C. FORM U-3A-2 STATEMENT BY HOLDING COMPANY PUBLIC UTILITY HOLDING COMPANY * * * * * File No. 69-291 TNP Enterprises, Inc. hereby files with the Securities and Exchange Commission, pursuant to Rule 2, its statement claiming exemption as a holding company from the provisions of the Public Utility Holding Company Act of 1935, and submits the following
information: 1. The name, state of organization, location and nature of business of claimant and every subsidiary thereof, other than any exempt wholesale
generator (EWG) or foreign utility company in which claimant directly or indirectly holds an interest: State of TNP Enterprises, Inc. Texas 2 Robbins Lane Suite 201 Texas-New Mexico Power Company Texas P.O. Box 2943 Facility Works, Inc. Texas P.O. Box 2943 First Choice Power, Inc. Texas P. O. Box 2943 TNP Operating Company Texas P.O. Box 2943 Texas Generating Company* Texas P.O. Box 2943 Texas Generating Company II* Texas P.O. Box 2943 * Wholly-owned subsidiary of Texas-New Mexico Power Company 2. The following is a brief description of the properties of claimant and of its subsidiary public utility company, Texas-New Mexico Power Company
(TNMP), used for the generation, transmission, and distribution of electric energy for sale, indicating the location of principal generating plants, transmission lines and distribution facilities including all such properties which are outside the State
in which claimant and its subsidiaries are organized, and all transmission lines which deliver or receive electric energy at the borders of such States: The claimant owns all of the issued and outstanding common stock of its principal operating subsidiary, TNMP, an electric public utility corporation. Texas-New Mexico
Power Company (TNMP) serves approximately 238,000 customers in a total of 85 municipalities and adjacent rural areas in Texas and New Mexico. TNMP is a subsidiary of TNP Enterprises, Inc., a public utility holding company exempt under Section 3(a)(1) of
the Act. Within Texas, TNMP is a regulated public utility engaged in the generation, supply, transmission, distribution and sale of electric energy. TNMP serves 76 municipalities in
Texas, primarily smaller-to-medium sized communities. Only two of the Texas municipalities that TNMP serves have populations exceeding 50,000. The largest municipalities within Texas served by TNMP are Texas City, Lewisville, and League City. The Texas
service territory is found in three areas of the state:
Exhibit A
TNP ENTERPRISES, INC. AND SUBSIDIARIES
CONSOLIDATING STATEMENTS OF INCOME (LOSS)
For the Year Ended December 31, 2000
(Amounts in Thousands)
Texas-New Mexico Power Company Consolidated
TNP Operating Company
TNP Enterprises, Inc.
Consolidating Entries
TNP Enterprises, Inc. Consolidated
OPERATING REVENUES
$ 644,035
$ -
$ -
$ -
$ 644,035
__________
__________
__________
__________
___________
OPERATING EXPENSES:
Purchased power and fuel
348,461
-
-
-
348,461
Other operating and maintenance
97,466
-
10,023
-
107,489
Depreciation of utility plant
41,353
-
8,523
-
49,876
Charge for recovery of stranded plant
18,306
-
-
-
18,306
Taxes other than income taxes
34,615
36
970
-
35,621
Income taxes
22,375
21
(15,551)
-
6,845
__________
__________
__________
__________
___________
Total operating expenses
562,576
57
3,965
-
566,598
__________
__________
__________
__________
___________
NET OPERATING INCOME (LOSS)
81,459
(57)
(3,965)
-
77,437
__________
__________
__________
__________
___________
OTHER INCOME (LOSS):
Other income and deductions, net
1,626
98
42,356
__________
44,080
Income taxes
(606)
-
(7)
-
(613)
__________
__________
__________
__________
___________
Other income (loss), net of taxes
1,020
98
42,349
-
43,467
__________
__________
__________
__________
___________
INCOME (LOSS) BEFORE INTEREST CHARGES
82,479
41
38,384
-
120,904
__________
__________
__________
__________
___________
INTEREST CHARGES:
Interest on long-term debt
35,231
-
32,139
-
67,370
Other interest and amortization of debt-related costs
5,291
-
1,222
-
6,513
__________
__________
__________
__________
___________
Total interest charges
40,522
-
33,361
-
73,883
__________
__________
__________
__________
___________
INCOME FROM CONTINUING OPERATIONS
-
-
-
-
-
Loss from discontinued nonregulated operations,
net of taxes
-
NET INCOME (LOSS)
41,957
41
5,023
-
47,021
Dividends on preferred stock and other
38
-
10,954
-
10,992
__________
__________
__________
__________
___________
INCOME (LOSS) APPLICABLE TO COMMON STOCK
$ 41,919
$ 41
$ (5,931)
$ -
$ 36,029
__________
__________
__________
__________
___________
TNP ENTERPRISES, INC. AND SUBSIDIARIES
CONSOLIDATING STATEMENTS OF RETAINED EARNINGS
For the Year Ended December 31, 2000
(Amounts in Thousands)
Texas-New Mexico Power Company Consolidated
TNP Operating Company
TNP Enterprises, Inc.
Facility Works, Inc.
Consolidating Entries
TNP Enterprises, Inc. Consolidated
PREDECESSOR
BALANCE AT DECEMBER 31, 1999
$ 90,302
$ 1,098
$ 130,425
$ (28,689)
$ (62,711)
$ 130,425
Net income (loss)
7,763
7
3,848
-
(7,765)
3,853
Dividends on preferred stock
(18)
-
-
-
-
(18)
Dividends on common stock
-
-
(3,908)
-
-
(3,908)
Gain on retirement of preferred stock
13
-
-
-
-
13
___________
__________
__________
___________
___________
____________
BALANCE AT MARCH 31, 2000
98,060
1,105
130,365
(28,689)
(70,476)
130,365
SUCCESSOR
Acquisition of predecessor
-
-
(130,365)
-
-
(130,365)
___________
__________
__________
___________
___________
____________
98,060
1,105
-
(28,689)
(70,476)
-
Net income (loss)
34,194
34
1,175
-
(34,195)
1,208
Dividends on preferred stock
(33)
-
(10,692)
-
-
(10,725)
Dividends on common stock
(31,500)
-
-
-
31,500
-
Preferred stock issuance costs
-
-
(3,601)
-
-
(3,601)
Preferred stock discount and warrant accretion
-
-
(262)
-
-
(262)
___________
__________
__________
___________
___________
____________
BALANCE AT DECEMBER 31, 2000
$ 100,721
#
$ 1,139
$ (13,380)
$ (28,689)
$ (73,171)
$ (13,380)
___________
__________
__________
___________
___________
____________
___________
__________
__________
___________
___________
____________
Exhibit A
TNP ENTERPRISES, INC. AND SUBSIDIARIES
CONSOLIDATING BALANCE SHEET
December 31, 2000
(Amounts in Thousands)
Texas-New Mexico Power Company Consolidated
TNP Operating Company
TNP Enterprises, Inc.
Facility Works, Inc.
Consolidating Entries
TNP Enterprises, Inc. Consolidated
ASSETS
UTILITY PLANT
$ 1,327,804
$ -
$ 317
$ -
$ (508,366)
$ 819,755
Less: accumulated depreciation
415,816
-
3
-
(388,253)
27,566
____________
____________
____________
___________
____________
____________
Net utility plant
911,988
-
314
-
(120,113)
792,189
____________
____________
____________
___________
____________
____________
INVESTMENT IN SUBSIDIARY COMPANIES
-
-
329,180
-
(329,180)
-
TNP ONE REPLACEMENT NOTES
-
-
-
-
-
-
OTHER PROPERTY AND INVESTMENTS, at cost
206
930
2,500
-
-
3,636
CURRENT ASSETS:
Cash and cash equivalents
2,613
647
3,390
1,460
-
8,110
Accounts receivable
21,368
-
1,064
290
(1,064)
21,658
Deferred purchased power and fuel costs
1,977
-
-
-
-
1,977
Accumulated deferred income taxes
-
-
-
339
(339)
-
Other current assets
5,037
-
54
-
-
5,091
____________
____________
____________
___________
____________
____________
Total current assets
30,995
647
4,508
2,089
(1,403)
36,836
____________
____________
____________
___________
____________
____________
LONG-TERM AND OTHER ASSETS:
Goodwill
-
-
281,870
-
-
281,870
Recoverable stranded costs
-
-
-
-
119,857
119,857
Deferred purchased power and fuel costs
37,251
-
-
-
-
37,251
Deferred charges
18,057
109
9,666
424
28,836
57,092
____________
____________
____________
___________
____________
____________
Total long-term and other assets
55,308
109
291,536
424
148,693
496,070
____________
____________
____________
___________
____________
____________
$ 998,497
$ 1,686
$ 628,038
$ 2,513
$ (302,003)
$ 1,328,731
____________
____________
____________
___________
____________
____________
CAPITALIZATION AND LIABILITIES
CAPITALIZATION:
Common shareholder's equity:
Common stock
$ 107
$ 100
$ 100,000
$ 1
$ (208)
$ 100,000
Capital in excess of par value
222,149
400
-
33,418
(255,967)
-
Retained earnings (deficit)
100,721
1,140
(13,380)
(28,689)
(73,172)
(13,380)
____________
____________
____________
___________
____________
____________
Total common shareholder's equity
322,977
1,640
86,620
4,730
(329,347)
86,620
Redeemable cumulative preferred stock
-
-
104,393
-
-
104,393
Long-term debt, less current maturities
426,327
-
432,200
-
-
858,527
____________
____________
____________
___________
____________
____________
Total capitalization
749,304
1,640
623,213
4,730
(329,347)
1,049,540
____________
____________
____________
___________
____________
____________
CURRENT LIABILITIES:
Current maturities of long-term debt
-
-
1,600
-
-
1,600
Accounts payable
38,326
-
-
346
-
38,672
Other current liabilities
67,414
46
4,918
(2,563)
(1,465)
68,350
____________
____________
____________
___________
____________
____________
Total current liabilities
105,740
46
6,518
(2,217)
(1,465)
108,622
____________
____________
____________
___________
____________
____________
LONG-TERM AND OTHER LIABILITIES:
Regulatory tax liabilities
6,371
-
-
-
-
6,371
Accumulated deferred income taxes
100,177
-
(1,824)
-
-
98,353
Accumulated deferred investment tax credits
22,377
-
-
-
-
22,377
Deferred credits
14,528
-
131
-
28,809
43,468
____________
____________
____________
___________
____________
____________
Total long-term and other liabilities
143,453
-
(1,693)
-
28,809
170,569
____________
____________
____________
___________
____________
____________
$ 998,497
$ 1,686
$ 628,038
$ 2,513
$ (302,003)
$ 1,328,731
____________
____________
____________
___________
____________
____________
____________
____________
____________
___________
____________
____________
Exhibit B
TNP ENTERPRISES, INC. AND SUBSIDIARIES
Financial Data Schedule
For the Period Ending December 31, 2000
(Amounts in Thousands)
Item No.
Caption Heading
Amount
1
Total Assets
$ 1,328,731
2
Total Operating Revenues
644,035
3
Net Income (Loss)
47,021
CLAIMING EXEMPTION
UNDER RULE U-3A-2 FROM THE
PROVISIONS OF THE
ACT OF 1935
(Name of Company)
Name
Organization
Location and Nature of Business
Jericho, NY 11753
Holding Company
Fort Worth, TX 76113
Electric Utility/Holding Company
Fort Worth, TX 76113
General purpose corporation
Fort Worth, TX 76113
General purpose corporation
Fort Worth, TX 76113
General purpose corporation
(presently inactive)
Fort Worth, TX 76113
Special purpose corporation
Fort Worth, TX 76113
Special purpose corporation
Within New Mexico, TNMP is a regulated public utility engaged in the supply, transmission, distribution and sale of electric energy. It owns transmission and distribution lines within New Mexico and serves 9 communities in southern New Mexico. The largest of these communities are Silver City, Alamogordo and Ruidoso. The New Mexico region is based at Silver City.
TNMP and its subsidiaries own generating facilities located in Robertson County, Texas, which is in the central part of Texas. The generating facilities consist of two 150 MW, circulating fluidized bed units, and currently use lignite as the fuel source. TNMP also has a transmission line connecting these units to a major transmission grid in Texas. TNMP sells electricity from these units solely within Texas. Neither the claimant nor any of its subsidiaries own transmission lines that deliver or receive electricity at the border of Texas.
3. Certain information, for the calendar year 2000 with respect to claimant and its subsidiaries, is provided in the following chart:
(a) |
Total MWH sold and related revenues are as follows: |
||||||||
MWH |
Revenues From Sales |
||||||||
Retail |
9,362,749 |
$591,162,000 |
|||||||
Wholesale |
281,017 |
12,350,000 |
|||||||
___________ |
____________ |
||||||||
Totals |
9,643,766 |
$603,512,000 |
|||||||
___________ |
____________ |
||||||||
___________ |
____________ |
||||||||
TNP Enterprises, Inc. and Texas-New Mexico Power Company are incorporated in |
|||||||||
the State of Texas. |
|||||||||
(b) |
MWH sold and related revenues at retail in (a) above, are as follows: |
||||||||
MWH |
Retail Revenues |
||||||||
Texas |
7,982,036 |
$482,534,000 |
|||||||
New Mexico |
1,380,713 |
108,628,000 |
|||||||
___________ |
____________ |
||||||||
Totals |
9,362,749 |
$591,162,000 |
|||||||
___________ |
____________ |
||||||||
___________ |
____________ |
||||||||
(c) |
MWH sold and related revenues at wholesale in (a) above, are as follows: |
||||||||
MWH |
Wholesale Revenues |
||||||||
Texas |
264,922 |
$11,405,000 |
|||||||
New Mexico |
16,095 |
945,000 |
|||||||
___________ |
____________ |
||||||||
Totals |
281,017 |
$12,350,000 |
|||||||
___________ |
____________ |
||||||||
___________ |
____________ |
||||||||
(d) |
MWH purchased and related expenses are as follows: |
||||||||
Purchased Power |
|||||||||
MWH |
Expenses |
||||||||
Texas |
6,189,151 |
$224,513,000 |
|||||||
New Mexico |
1,497,151 |
83,699,000 |
|||||||
___________ |
____________ |
||||||||
Totals |
7,686,302 |
$308,212,000 |
|||||||
___________ |
____________ |
||||||||
___________ |
____________ |
4. Neither the claimant nor any of its subsidiaries are directly or indirectly involved with, or have an interest in either an Exempt Wholesale Generator or a foreign utility company.
Exhibit A. A consolidating statement of operations of the claimant and its subsidiaries for the last calendar year 2000, together with a consolidating balance sheet and consolidating statements of retained earnings of claimant and its subsidiaries as of the close of the 2000 calendar year, are presented.
Exhibit B. A Financial Data Schedule for the period ended December 31, 2000, including Item Nos. 1, 2, and 3.
The above named claimant has caused this statement to be duly executed on its behalf by its authorized officer on this 27th day of February, 2001.
TNP Enterprises, Inc. |
By: \s\ Theodore A. Babcock |
Theodore A. Babcock |
Corporate Seal
Attest:
\s\ Kathleen A. Marion
Kathleen A. Marion, Secretary
The name, title and address of the officer to whom notices and correspondence concerning this statement should be addressed is:
Kathleen A. Marion, Secretary
TNP Enterprises, Inc.
2 Robbins Lane Suite 201
Jericho, NY 11753