U-9C-3 1 u9c.txt FORM U-9C-3 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM U-9C-3 QUARTERLY REPORT PURSUANT TO RULE 58 OF THE PUBLIC UTILITY HOLDING COMPANY ACT OF 1935. For the quarterly period ended March 31, 2001 SCANA Corporation -------------------------------------------------------------------------------- (Name of registered holding company) 1426 Main Street, Columbia, South Carolina 29201 -------------------------------------------------------------------------------- (Address of principal executive offices) Table of Contents Item No. Title Page ---------- ------------------------------------------------- ------------ 1 Organization Chart 2 2 Issuances and Renewals of Securities and Capital Contributions 2 3 Associate Transactions 3 4 Summary of Aggregate Investment 4 5 Other Investments 5 6 Financial Statements and Exhibits 5
ITEM 1 - ORGANIZATION CHART Name Energy Percentage of or Date State of Voting Reporting Gas - related of of Securities Nature of Company Company Organization Organization Held Business ------- ------- ------------ ------------ ---- -------- SCANA Resources, Inc. (a) Solo Energy Corporation Energy January 6, 1997 Delaware 23.8% (b) provide long-term energy service contracts from use of micro turbines South Carolina Electric & Gas Company (a) SC Coaltech No. 1 LP Energy April 7, 2000 Delaware 40% production and sale of synthetic fuel
(a) These SCANA Corporation system companies are not reporting companies but they are included herein because they hold securities directly in the energy-related companies set forth below their names. (b) Solo Energy Corporation's certificate of incorporation limits SCANA Corporation and its wholly owned subsidiaries to an aggregate power to vote of 18% of total number of votes entitled to be cast on matters not requiring separate voting by the holders of Series B Preferred Stock.
ITEM 2 - ISSUANCES AND RENEWALS OF SECURITIES AND CAPITAL CONTRIBUTIONS Principal Issue Person to Whom Collateral Consideration Amount of or Cost of Security was Given with for Each Company Issuing Security Type of Security Issued Security Renewal Capital Issued Security Security SOLO Energy Corporation Bridge loan bearing $1,500,000 Issue $1,500,000 SCANA Resources, Inc. None $1,500,000 interest at 10% and due June 30, 2001(1) Company Contributing Capital Company Receiving Capital Amount of Capital Contribution ---------------------------- ------------------------- ------------------------------ South Carolina Electric & Gas Company SC Coaltech No. l LP $1,256,000 (1) This note is convertible, at SCANA Resources, Inc.'s option, to Series D Preferred Stock. In addition, a warrant to purchase 1,650,000 shares of Series D Preferred Stock was issued in return for the provision of funds under the bridge loan.
2
ITEM 3 - ASSOCIATE TRANSACTIONS PART I - Transactions Performed by Reporting Companies on Behalf of Associate Companies Reporting Company Associate Company Types of Services Direct Costs Indirect Cost of Total Amount Rendering Services Receiving Services Rendered Charged Costs Charged Capital Billed ------------------ ------------------ -------- ------- ------------- ------- ------ SC Coaltech No. 1 LP South Carolina Electric Synthetic Fuel Sales $14,556,456 - - $14,556,456 & Gas Company PART II - Transactions Performed by Associate Companies on Behalf of Reporting Companies Associate Company Reporting Company Type of Services Direct Costs Indirect Cost of Total Amount Rendering Services Receiving Services Rendered Charged Costs Charged Capital Billed ------------------ ------------------ -------- ------- ------------- ------- ------ South Carolina Electric & Gas Company SC Coaltech No.1 LP Coal Sales $15,009,829 - - $15,009,829 South Carolina Electric & Gas Company SC Coaltech No.1 LP Fuel Handling $ 35,914 - - $ 35,914
3 ITEM 4 - SUMMARY OF AGGREGATE INVESTMENT (Dollars in Thousands) Investments in energy-related companies: Total consolidated capitalization as of March 31, 2001 $5,930,079 (A) Line 1 Total capitalization multiplied by 15% (line1 multiplied by 0.15) 889,512 Line 2 Greater of $50 million or line 2 $889,512 Line 3 Total current aggregate investment: (categorized by major line of energy-related business) Energy-related business category 1 - Energy-related business category 2 - Energy-related business category 3 - Energy-related business category 4 $7,800 Energy-related business category 5 - Energy-related business category 6 7,182 Energy-related business category 7 - Energy-related business category 8 - Energy-related business category 9 - Energy-related business category 10 - Total current aggregate investment $14,982 -------- Line 4 Difference between the greater of $50 million or 15% of capitalization and the total aggregate investment of the registered holding company system (line 3 less line 4) $874,530 Line 5 Investments in gas-related companies: Total current aggregate investment: (categorized by major line of gas-related business) Gas-related business category 1 - Gas-related business category 2 - Total current aggregate investment - ------------ (A) Includes common equity, preferred stock and manditorily redeemable preferred securities, long-term debt and current maturities and short-term borrowings. 4 ITEM 5 - OTHER INVESTMENTS (Dollars in Thousands)
Major line of energy- Other investment in Other investment in Reason for difference related business last U-9C-3 report this U-9C-3 report in Other Investment ---------------- ------------------ ------------------ ------------------- None*
*As specifically authorized by the Securities and Exchange Commission in Public Utility Holding Company Act Release No. 27133 (February 9, 2000), SCANA Corporation currently retains certain interests in specific non-utility subsidiaries that are engaged in energy-related types of business as described in Rule 58 of the Public Utility Holding Company Act of 1935. ITEM 6 - FINANCIAL STATEMENTS AND EXHIBITS FINANCIAL STATEMENTS Exhibit A Solo Energy Corporation Balance Sheet as of March 31, 2001 Exhibit B Solo Energy Corporation Income Statement for the Periods ended March 31, 2001 Exhibit C SC Coaltech No. l LP Balance Sheet as of March 31, 2001 Exhibit D SC Coaltech No. l LP Income Statement for the Periods ended March 31, 2001 EXHIBITS Exhibit E Certificate of SCANA Corporation 5 SIGNATURE Pursuant to the requirements of the Public Utility Holding Company Act of 1935, SCANA Corporation has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized on the 18th day of May 2001. SCANA Corporation Registrant by: s/Mark R. Cannon ----------------------------------------------- Mark R. Cannon --------------------------------------------- (Name) Controller ----------------------------------------------- (Title) May 18, 2001 --------------------------------------- (Date) 6 Exhibit A Solo Energy Balance Sheet As of March 31, 2001 (Dollars in Thousands) (Unaudited) ASSETS Current Assets Cash $3,272 Accounts Receivable - ------------------------------------------------------------------- Total Current Assets 3,272 ------------------------------------------------------------------- Fixed Assets 2,077 Other Assets 894 ------------------------------------------------------------------- TOTAL ASSETS $6,243 =================================================================== LIABILITIES & EQUITY Liabilities Current Liabilities Accounts Payable $1,155 Other Current Liabilities 7,002 ------------------------------------------------------------------- Total Current Liabilities 8,157 ------------------------------------------------------------------- Long-term debt 6 Equity (deficit) (1,920) ------------------------------------------------------------------- TOTAL LIABILITIES & EQUITY (DEFICIT) $6,243 =================================================================== 7 Exhibit B Solo Energy Income Statement for the Periods ended March 31, 2001 (Dollars in Thousands) (Unaudited) Ordinary Income/Expense Quarter Year to Date ------- ------------ Expense Total Research and Development $2,055 $2,055 Total G&A 1,999 1,999 -------------------------------------------------------------------------------- Total Expense (4,054) (4,054) -------------------------------------------------------------------------------- Net Ordinary Income (Loss) (4,054) (4,054) Other Income/Expense Other Income Interest Income 25 25 -------------------------------------------------------------------------------- Total Other Income 25 25 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Net Income (Loss) $(4,029) $(4,029) ================================================================================ 8 Exhibit C South Carolina Coaltech No. l LP Balance Sheet As of March 31, 2001 (Dollars in Thousands) (Unaudited) ASSETS Current Assets Cash $ 352 Accounts Receivable 6,142 -------------------------------------------------- ------------------- Total Current Assets 6,494 -------------------------------------------------- ------------------- Fixed Assets 9,016 -------------------------------------------------- ------------------- TOTAL ASSETS $15,510 ================================================== =================== LIABILITIES & EQUITY Liabilities Accounts Payable $ 5,854 -------------------------------------------------- ------------------- Total Liabilities 5,854 -------------------------------------------------- ------------------- Equity Partner Accounts 24,053 Retained Earnings (11,042) Net Income (loss) (3,355) -------------------------------------------------- ------------------- Total Equity 9,656 -------------------------------------------------- ------------------- TOTAL LIABILITIES & EQUITY $15,510 ================================================== =================== 9 Exhibit D South Carolina Coaltech No. 1 LP Income Statement for the Periods ended March 31, 2001 (Dollars in Thousands) (Unaudited) Quarter Year to Date INCOME: Synfuel Sales $14,557 $14,557 Other Income 80 80 -------------------------------- --------------------- --------------- TOTAL INCOME 14,637 $14,637 EXPENSES: Depreciation 334 334 Raw Material (coal) 15,010 15,010 Operating Costs 2,068 2,068 General Partners Cost 61 61 Other Costs 519 519 -------------------------------- --------------------- --------------- TOTAL EXPENSES 17,992 17,992 NET INCOME (LOSS) $ (3,355) $ (3,355) ================================ ===================== =============== Exhibit E Certificate Pursuant to the requirements of Rule 58 of the Public Utility Holding Company Act of 1935, the undersigned certifies that: A copy of SCANA's quarterly report on Form U-9C-3 for the quarterly period ended December 31, 2000, was filed with the state commissions having jurisdiction over the retail rates of SCANA Corporation's public utility subsidiary companies. The names and addresses of these state commissions are as follows: South Carolina Public Service Commission P. O. Box 11649 Columbia, SC 29211 North Carolina Utilities Commission 4325 Mail Service Center Raleigh, NC 27699-4325 May 18, 2001 By: s/M. R. Cannon ---------------------------------- M. R. Cannon Controller (principal accounting officer) 10