-----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, WiNPE2BVmq3pFMHGT4Km4qyZxUlZe9Oy5MPVKODAkrPmXEhJWMOSbxmcM9q+a+yt NCzdqVbFNmAMjGGfH6KEnw== 0000755001-97-000020.txt : 19970912 0000755001-97-000020.hdr.sgml : 19970912 ACCESSION NUMBER: 0000755001-97-000020 CONFORMED SUBMISSION TYPE: 35-CERT PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19970908 SROS: AMEX FILER: COMPANY DATA: COMPANY CONFORMED NAME: UNITIL CORP CENTRAL INDEX KEY: 0000755001 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC & OTHER SERVICES COMBINED [4931] IRS NUMBER: 020381573 STATE OF INCORPORATION: NH FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 35-CERT SEC ACT: SEC FILE NUMBER: 070-08074 FILM NUMBER: 97676753 BUSINESS ADDRESS: STREET 1: 6 LIBERTY LAND WEST CITY: HAMPTON STATE: NH ZIP: 03842 BUSINESS PHONE: 6037720775 35-CERT 1 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM U-9C-3 QUARTERLY REPORT PURSUANT TO RULE 58 UNITIL CORPORATION (Name of Registered Holding Company) 6 Liberty Lane West, Hampton, New Hampshire 03842-1720 (Address of principal executive offices) ITEM 1 - ORGANIZATION CHART Name of Energy or Date of State of Percentage Nature of reporting gas-related organization organization of voting business company company securities held Unitil Corporation Unitil Resources, Inc. Energy 5/26/93 NH 100% Energy Marketing & Consulting Description of Various Consulting, Energy marketing, Energy Management and Other Activities Undertaken by Unitil Resources Inc.: Staff providing services under the activities listed below (unless otherwise indicated) are located at Unitil Service Corp. (Unitil Service), 6 Liberty Lane West, Hampton, NH 03842-1720, where most client work is performed. From time to time staff visit other locations, predominately in New England, representing client interests. Consulting Services A. Kingston-Warren Corporation Consulting. 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 power supply arrangements. No charges have been assessed to date on this contract. B. Bangor Hydro Electric Consulting. During March 1997, Unitil Resources performed consulting work for Bangor Hydro Electric Company, which included furnishing a complete set of electronic Construction Standards in portable document format, suitable for electronic distribution and publishing over the Internet. During the second quarter of 1997, revenues of $6,200 were received on this contract. C. Sale of Survey Information. During the first quarter of 1997, Unitil Resources, in partnership with The Delahaye Group (a New Hampshire- based market research firm), began to market and sell a report analyzing the New Hampshire Pilot Program, and which provided the results of a survey completed in late 1996 of Pilot Program participants. The two entities are equally dividing the revenues from the sale of these reports, which are priced at $5,000. To date, Unitil Resources has received $5,000 in revenues from the sale of two reports. Energy Marketing Activities A. New Hampshire Pilot Program. As of July 1, 1996, Unitil Resources became eligible to begin marketing electricity at retail to statewide participants in the New Hampshire Pilot Program. This 24-month program allows 3* of all electric customers in the State of New Hampshire to purchase electricity from the supplier of their choice. Revenues generated from this activity during the second quarter of 1997 were $72,166 and for the year-to-date were $195,433. ITEM 2 - ISSUANCES AND RENEWALS OF SECURITIES AND CAPITAL CONTRIBUTIONS None. ITEM 3 - ASSOCIATE TRANSACTIONS Part I Transactions Performed by Reporting Companies on Behalf of Associate Companies None. Part II Transactions Performed by Associate Companies on Behalf of Reporting Companies Associate Reporting company company Types of Direct Indirect Total rendering receiving services costs costs Cost of amount services services rendered charged charged capital billed Unitil Unitil Energy $15,821 $16,902 $0 $32,723 Service Resources Marketing Corp. Inc. and Consulting 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. Consulting services provided by Unitil Service during the second quarter of 1997 included re @ atory, finance, accounting, marketing, energy management and administrative services. ITEM 4 - SUMMARY OF AGGREGATE INVESTMENT (Dollars in Thousands) Investments in Energy-related Companies: Total consolidated capitalization as of June 30, 1997 $138,047 Total capitalization multiplied by 15t 20,707 Greater of $50 million or line 2 $50,000 Total current aggregate investment: Energy-related business: Unitil Resources, Inc. 10 Total current aggregate investment 10 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) $49,990 Investments in Gas-related Companies None. ITEM 5 - OTHER INVESTMENTS Other Other Reason for Major line of investment in investment in difference in energy-related last U-9C-3 this U-9C-3 other business report report investment Energy Marketing $10,000* $0 n/a and Consulting * The initial investment by Unitil Corporation in Unitil Resources, Inc. was $10,000. There has been no further investment. ITEM 6 - FINANCIAL STATEMENTS AND EXHIBITS A. Financial Statements - Page 1 of 2 Unitil Resources, Inc. (A Wholly-owned Subsidiary of Unitil Corporation) BALANCE SHEETS (UNAUDITED) June 30, December 31 ASSETS: 1997 1996 1996 Current Assets: Cash $25,401 $307,714 $2,491 Accounts Receivable 75,771 5,000 71,604 Prepayments 314 0 0 Unbilled and Accrued Revenue 36,763 0 39,623 Total Current Assets 138,249 312,714 113,718 Deferred Debits -- -- -- Total Assets $138,249 $312,714 $113,718 LIABILITIES AND STOCKHOLDERS EQUITY: Current Liabilities: Accounts Payable $56,734 $30,412 $102,806 Notes Payable 202,521 0 0 Taxes Accrued & Other (137,069) 189,722 (44,206) Total Current Liabilities 122,186 220,134 58,600 Stockholder's Equity: Common Stock, $1.00 par value Authorized - 10,000 shares Outstanding - 10,000 shares 100 100 100 Premium on Common Stock 9,900 9,900 9,900 Retained Earnings 6,063 82,580 45,118 Total Stockholder's Equity 16,063 92,580 55,118 Total Liabilities and Equity $138,249 $312,714 $113,718 ITEM 6 - FINANCIAL STATEMENTS AND EXHIBITS A. Financial Statements - Page 2 of 2 Unitil Resources, Inc. (A Wholly-owned Subsidiary of Unitil Corporation) STATEMENTS OF EARNINGS (UNAUDITED) Three Months Ended Six Months Ended June 30, June 30, 1997 1996 1997 1996 Revenues: Service Revenues $6,200 $(358) $11,200 $15,427 Electric Revenues 72,166 195,433 0 Total Revenues 78,366 (358) 206,633 15,427 Operating Expenses: Purchased Power 69,054 0 186,518 0 Administrative and General 53,083 421,178 81,957 434,460 Total Operating Expenses 122,137 421,178 268,475 434,460 Operating Income (43,771) (421,536) (61,842) (419,033) Nonoperating (Expense) Income (1,633) 4,941 (1,786) 10,141 Earnings Before Income Taxes (45,404) (416,595) (63,628) (408,892) Income Taxes: Current Federal (14,355) (131,614) (20,117) (129,178) Current State (3,179) (29,137) (4,455) (28,598) Total Income Taxes (17,534) (160,751) (24,572) (157,776) Net Income $(27,870) $(255,844) $(39,056) $(251,116) B. Exhibits None. 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 Corporation By: /s/ Gail A. Siart Gail A. Siart Treasurer Dated: August 29, 1997 -----END PRIVACY-ENHANCED MESSAGE-----