-----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, RYAmwSIQBBtBYAMNnI7Oo7qQcukFpqVR7JcRFKMTr0FjYd7U3YUBB6ska3u/ggJl f/PxAF9u0nYnFkFiAEAI/g== 0000755001-99-000019.txt : 19990823 0000755001-99-000019.hdr.sgml : 19990823 ACCESSION NUMBER: 0000755001-99-000019 CONFORMED SUBMISSION TYPE: U-9C-3 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19990630 FILED AS OF DATE: 19990820 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: U-9C-3 SEC ACT: SEC FILE NUMBER: 074-00021 FILM NUMBER: 99696835 BUSINESS ADDRESS: STREET 1: 6 LIBERTY LAND WEST CITY: HAMPTON STATE: NH ZIP: 03842 BUSINESS PHONE: 6037736504 MAIL ADDRESS: STREET 1: 6 LIBERTY LAND WEST CITY: HAMPTON STATE: NH ZIP: 03842 U-9C-3 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 Legal Testimony. In the second quarter of 1999, Unitil Resources, Inc. (Unitil Resources) entered into a contract with a law firm to provide expert testimony in an arbitration dispute regarding the sale of purchased power. Charges of $23,450 were assessed on this contract in the second quarter of 1999. Energy Marketing Activities New Hampshire Pilot Program. As of July 1, 1996, Unitil Resources, Inc., became eligible to begin marketing electricity at retail to statewide participants in the New Hampshire Pilot Program. This program, which originally was scheduled to last 24 months, allows 3% of all electric customers in the State of New Hampshire to purchase electricity from the supplier of their choice. In 1998, the State of New Hampshire extended this program beyond the original 24 month period. Revenues generated from this activity during the second quarter of 1999 were $190,067. Electricity and Natural Gas Brokerage. On March 25, 1999 Unitil Corporation acquired a minority interest in North American Power Brokers, Inc., a privately held company providing Internet technology solutions to the energy industry. The Federal Communications Commission has determined that North American Power Brokers, Inc. is an exempt telecommunications company, as that term is defined in PUHCA Section 34(a)(1), as amended. Unitil Corporation, through Unitil Resources, has licensed and deployed North American Power's innovative Internet-based technology for brokering electricity and natural gas energy transactions between retail consumers and energy suppliers. Unitil Resources offers the retail energy electronic commerce system developed and owned by North American Power, Inc. to medium and large commercial and industrial customers, co-branded under the name "Usource", powered by North American Power's World Wide Retail Energy Exchange. Revenues generated from this activity during the second quarter of 1999 were $6,196. ITEM 2 - ISSUANCES AND RENEWALS OF SECURITIES AND CAPITAL CONTRIBUTIONS Associate Reporting company company Type Net advancing receiving of Change funds funds transaction in contributions Unitil Unitil Capital contribution None Corporation Resources Inc. 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 $72,171 $71,207 $0 $143,378 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 1999 included regulatory, 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, 1999 $164,798 Total capitalization multiplied by 15% 24,720 Greater of $50 million or line 2 $50,000 Total current aggregate investment: Energy-related business: Unitil Resources, Inc. 590 Total current aggregate investment 590 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) $49,410 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. ITEM 6 - FINANCIAL STATEMENTS AND EXHIBITS A. Financial Statements - Page 1 of 2 Unitil Resources, Inc. (A Wholly-owned Subsidiary of Unitil Corporation) BALANCE SHEET (UNAUDITED) June 30 ASSETS: 1999 Service Company Property: Intangible Assets $577,986 Equipment 90,141 Total Service Company Property 668,127 Less: Accumulated Depreciation and Amortization (24,443) Net Service Company Property 643,684 Current Assets: Cash 32,751 Accounts Receivable 137,750 Prepayments 3,373 Unbilled and Accrued Revenue 138,930 Total Current Assets 312,804 Total Assets $956,488 LIABILITIES AND STOCKHOLDERS EQUITY: Current Liabilities: Notes Payable $546,893 Accounts Payable 154,562 Taxes Accrued & Other (40,917) Total Current Liabilities 660,538 Stockholder's Equity: Common Stock, $1.00 par value Authorized - 10,000 shares Outstanding - 10,000 shares 100 Premium on Common Stock 9,900 Miscellaneous Paid in Capital 590,000 Retained Earnings (304,050) Total Stockholder's Equity 295,950 Total Liabilities and Equity $956,488 ITEM 6 - FINANCIAL STATEMENTS AND EXHIBITS A. Financial Statements - Page 2 of 2 Unitil Resources, Inc. (A Wholly-owned Subsidiary of Unitil Corporation) STATEMENT OF EARNINGS (UNAUDITED) Three Months Six Months Ended June 30, Ended June 30, 1999 1999 Revenues: Electric Revenues $190,067 $427,577 Service Revenues 29,646 29,646 Total Revenues 219,713 457,223 Operating Expenses: Purchased Power 178,759 346,594 Depreciation and Amortization 24,443 28,167 Administrative and General 184,223 224,260 Provision for Income Taxes (65,898) (55,915) Total Operating Expenses 321,527 543,106 Operating (Loss) Income (101,814) (85,883) Nonoperating Income 869 2,706 Income (Loss) Before Interest Expense (100,945) (83,177) Interest Expense, net 3,067 3,272 Net (Loss) Income $(104,012) $(86,449) 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/ Mark H. Collin Mark H. Collin Treasurer Dated: August 20, 1999 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: Mark H. Collin Treasurer Dated: August 20, 1999 -----END PRIVACY-ENHANCED MESSAGE-----