-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: keymaster@town.hall.org Originator-Key-Asymmetric: MFkwCgYEVQgBAQICAgADSwAwSAJBALeWW4xDV4i7+b6+UyPn5RtObb1cJ7VkACDq pKb9/DClgTKIm08lCfoilvi9Wl4SODbR1+1waHhiGmeZO8OdgLUCAwEAAQ== MIC-Info: RSA-MD5,RSA, X3b/vrsqlHC+OWceWABh4AN1NlhpXjghhBd583N6vV8K57bEn5TFqKAWmNHhILpV 76ijLcUNX+I8bXgQhCFPtQ== 0000755001-95-000012.txt : 19950530 0000755001-95-000012.hdr.sgml : 19950530 ACCESSION NUMBER: 0000755001-95-000012 CONFORMED SUBMISSION TYPE: 35-CERT PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19950519 SROS: AMEX FILER: COMPANY DATA: COMPANY CONFORMED NAME: UNITIL CORP CENTRAL INDEX KEY: 0000755001 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 020381573 STATE OF INCORPORATION: NH FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 35-CERT SEC ACT: 1935 Act SEC FILE NUMBER: 070-08074 FILM NUMBER: 95541174 BUSINESS ADDRESS: STREET 1: 216 EPPING RD CITY: EXETER STATE: NH ZIP: 03833 BUSINESS PHONE: 6037720775 35-CERT 1 SIGNATURE Pursuant to the requirements of the Public Utility Holding Company Act of 1935, the undersigned company has duly caused this Certificate to be signed on its behalf by the undersigned thereunto duly authorized. UNITIL Resources, Inc. By: /s/ Gail A. Siart Gail A. Siart Treasurer Dated: May 18, 1995 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ________________________________________________________________ Application of UNITIL Corporation ) ) CERTIFICATE PURSUANT TO and its Subsidiaries on Form U-1 ) RULE 24 UNDER THE PUBLIC ) UTILITY HOLDING COMPANY ACT (File No. 70-8074) ) OF 1935 _________________________________________________________________ Pursuant to the requirements of Rule 24 under the Public Utility Holding Company Act of 1935, UNITIL Corporation, on behalf of itself and its subsidiary, UNITIL Resources, Inc. hereby files the attached quarterly report as required by the Securities and Exchange Commission's order approving the formation of a subsidiary company to provide consulting services to non affiliates (HCAR. No. 25816; File No. 70-8074; May 24, 1993). Exhibit Exhibit A - Description of the various consulting and other activities undertaken by UNITIL Resources, Inc. Exhibit B - Statement of the amount of funds invested by UNITIL in UNITIL Resources, Inc. Exhibit C - Description of staffing. Exhibit D - Description of the intellectual property. Exhibit E - Financial Statements. EXHIBIT A Page 1 of 2 Description of Various Consulting and Other Activities Undertaken by UNITIL Resources Inc: - ------------------------------------------------------------------------------ Staff providing services under the assignments listed below (unless otherwise indicated) are located at UNITIL Service Corp. (UNITIL Service), 216 Epping Road, Exeter, NH 03833, where most client work is performed. From time to time staff visit other locations, predominately in New England, representing client interests. A. Great Bay Power Corporation (GBP) Marketing Agent. UNITIL Resources provides marketing services for power sales from GBP's 12.1324% ownership interest in the Seabrook nuclear power station, pursuant to a Marketing Agent Agreement between GBP and UNITIL Corporation dated April 1, 1993. Services provided by UNITIL Resources in the first quarter involved the marketing of power in the wholesale market. Charges to GBP under this contract totaled $62,350 in the first quarter of 1995. B. Great Bay Power Corporation (GBP) Management and Administrative Services. UNITIL Resources provides comprehensive management and administrative services to GBP, in a variety of functional areas including accounting, budgeting, finance, risk management (insurance), overview of plant operations, and general management. These services are currently provided pursuant to a Management and Administrative Services Agreement between GBP and UNITIL Corporation dated November 23, 1994. Charges to GBP under this contract totaled $139,987 in the first quarter of 1995. C. Milford, L.P. Consultancy. Milford L.P. is a PURPA QF facility located in Milford MA which has, pursuant to an agreement dated February 8, 1994, engaged UNITIL Resources for advice, consultation and support on matters involving the New England Power Pool, marketing and power contracting. Charges to Milford L.P. in the first quarter of 1995 totaled $830. The agreement with Milford is expected to expire as of April 30, 1995. D. University of Pennsylvania Consultancy. The University of Pennsylvania, through a letter contract with UNITIL Resources dated November 7, 1994, engaged the services of a UNITIL employee for the purpose of assisting in the presentation of a conference on emerging energy markets in India, held in Hyberyadad, India, the week of January 23, 1995. Services totaling $8,969 were charged in the first quarter of 1995, including charges of $1,483 which had been deferred from the fourth quarter of 1994. EXHIBIT A Page 2 of 2 E. Kingston-Warren Corporation Consultancy. An agreement was signed as of December 30, 1994 between UNITIL Resources and Kingston-Warren Corporation (K-W) under which UNITIL Resources will assist K-W in the conduct of studies relating to alternatives to K-W's current retail electrical supply from Public Service Company of New Hampshire. No charges have been assessed to date on this contract. EXHIBIT B Statement of the Amount of Funds Invested by UNITIL Corporation in UNITIL Resources, Inc.: - ------------------------------------------------------------------------------ The initial investment in UNITIL Resources, Inc. was $10,000. There has been no further investment. EXHIBIT C Description of Staffing: - ----------------------------------------------------------------------------- Staff involved in providing service to UNITIL Resources, Inc. (UNITIL Resources) are located at UNITIL Service Corp. (UNITIL Service). Service is provided to UNITIL Resources pursuant to a service agreement between UNITIL Service and UNITIL Resources dated July 1, 1993. Services provided by UNITIL Service during the first quarter included power brokering, regulatory, finance, accounting, and administrative services and ranged in number from twenty-five to twenty-eight employees on a part-time basis each month. The following are the percentages of UNITIL Service time each month that were expended on UNITIL Resources activities in the first quarter of 1995: January 5.43% February 3.61% March 3.70% EXHIBIT D Description of the Intellectual Property: - ----------------------------------------------------------------------------- No intellectual property was purchased or received during the quarter. EXHIBIT E UNITIL Resources, Inc. (A Wholly-owned Subsidiary of UNITIL Corporation) STATEMENTS OF EARNINGS (UNAUDITED) Three Months Ended March 31, 1995 1994 Revenues 212,136 105,798 Operating Expenses: Administrative and 127,350 79,700 General Total Operating 127,350 79,700 Expenses Operating Income 84,786 26,098 Earning Before Income 84,786 26,098 Taxes Income Taxes: Current Federal 26,809 8,252 Current State 5,935 1,827 Total Income 32,744 10,079 Taxes Net Income 52,042 16,019 Exhibit E Page 2 of 4 UNITIL Resources, Inc. (A Wholly-owned Subsidiary of UNITIL Corporation) BALANCE SHEETS (UNAUDITED) March 31, December 31, ASSETS: 1995 1994 1994 Current Assets: Cash 226,407 66,556 98,715 Accounts Receivable 11,160 64,700 65,565 Unbilled and Accrued 2,751 35,930 8,948 Revenue Total Current 240,318 167,186 173,228 Assets Deferred Debits 78 79,923 1,483 Total Assets 240,396 247,109 174,711 LIABILITIES AND STOCKHOLDERS EQUITY: Current Liabilities: Accounts Payable 32,902 130,706 52,003 Taxes Accrued 15,189 34,984 -17,556 Total Current 48,091 165,690 34,447 Liabilities Stockholder's Equity: Common Stock, $1.00 par value Authorized - 10,000 shares Outstanding - 100 100 100 10,000 shares Premium on Common 9,900 9,900 9,900 Stock Retained Earnings 182,305 71,419 130,264 Total 192,305 81,419 140,264 Stockholder's Equity Total Liabilities and 240,396 247,109 174,711 Equity Exhibit E Page 3 of 4 UNITIL Resources, Inc. (A Wholly-owned Subsidiary of UNITIL Corporation) STATEMENTS OF CASH FLOWS (UNAUDITED) For the Three Months Ended March 31, 1995 1994 Net Cash Flow from Operating Activities: Net Income 52,042 16,019 Change in Assets and Liabilities (Increase) Decrease in: Accounts Receivable 54,405 64,375 Unbilled and Accrued 6,197 -12,745 Revenue Deferred Debits 1,405 -17,561 Increase (Decrease) in: Accounts Payable -19,101 2,013 Taxes Accrued 32,744 10,079 Net Cash Provided by Operating 127,692 62,180 Activities Net Increase in Cash 127,692 62,180 Cash at beginning of year 98,715 4,376 Cash at March 31, 226,407 66,556 Exhibit E Page 4 of 4 UNITIL Resources, Inc. (A Wholly-owned Subsidiary of UNITIL Corporation) STATEMENTS OF RETAINED EARNINGS (UNAUDITED) For the Three Months Ended March 31, 1995 1994 Retained Earnings, 130,264 55,400 Beginning of Period Net Income 52,041 16,019 Retained Earnings, End of 182,305 71,419 Period -----END PRIVACY-ENHANCED MESSAGE-----