U-3A-2 1 file001.txt FORM U-3A-2 FILE NO. 1-9120 FORM U-3A-2 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. Statement by Holding Company Claiming Exemption Under Rule U-3A-2 from the Provisions of the Public Utility Holding Company Act of 1935 To Be Filed Annually Prior to March 1 PUBLIC SERVICE ENTERPRISE GROUP INCORPORATED ----------------------------------------------------------- (Name of company) 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. 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. 1. Public Service Enterprise Group Incorporated (PSEG), a New Jersey corporation, has its principal executive offices at 80 Park Plaza, Newark, New Jersey 07102. PSEG has four direct wholly-owned subsidiaries, Public Service Electric and Gas Company (PSE&G), PSEG Power LLC (Power), PSEG Energy Holdings Inc. (Energy Holdings), and PSEG Services Corporation (Services). PSEG also has 409 indirect subsidiaries. Details are as follows: 1.1. PSE&G, a New Jersey corporation, with its principal executive offices at 80 Park Plaza, Newark, New Jersey 07102, is an operating public utility company engaged principally in the transmission, distribution and sale of electric energy service and in the transmission, distribution and sale of gas service in New Jersey. As of December 31, 2001, net of eliminations PSE&G comprised 51% of PSEG's assets. PSE&G's 2001 revenues were 40% of PSEG's revenues and PSE&G's earnings available to PSEG were 30% of PSEG's net income. PSE&G has five direct wholly-owned subsidiaries; one direct 99%-owned subsidiary (the remaining 1% of which is owned by PSE&G's subsidiary, Public Service Corporation of New Jersey); one direct 50%-owned subsidiary (the remaining 50% of which is owned by Potomac Electric Power Company, a Virginia and District of Columbia corporation) and two indirect wholly-owned subsidiaries, as follows: 1.1.A. New Jersey Properties, Inc. (NJP), a New Jersey corporation, has its principal executive offices at 80 Park Plaza, Newark, New Jersey 07102. NJP acquires real estate from time to time. 1.1.B. Public Service Corporation of New Jersey (PSC of NJ), a New Jersey corporation, has its principal executive offices at 80 Park Plaza, Newark, New Jersey 07102. PSC of NJ owns 1% of Public Service New Millennium Economic Development Fund L.L.C. (see below). 1.1.C. Public Service New Millennium Economic Development Fund L.L.C. (New Millennium) has its principal executive offices at 80 Park Plaza, Newark, New Jersey 07102. New Millennium is a direct 99%-owned subsidiary of PSE&G, with the remaining 1% owned by PSC of NJ. New Millennium supports economic development and programs providing technology to improve education and health care in urban areas of New Jersey, and has one direct wholly-owned subsidiary, discussed below. 1.1.D. Tradelink New Jersey International Business Center, Inc. (Tradelink), a New Jersey corporation, has its principal executive offices at 80 Park Plaza, Newark, New Jersey 07102. Tradelink is presently inactive. 1.1.E. Gridco International L.L.C. (Gridco International), a Delaware corporation, has its principal executive offices at 1209 Orange Street, New Castle County, Wilmington, 2 Delaware 19801. Gridco International, a direct 50%-owned subsidiary of PSE&G with the remaining 50% owned by Potomac Electric Power Company and is currently inactive. 1.1.F. PSE&G Transition Funding LLC (Transition Funding), a Delaware limited liability company, has its principal offices at 1209 Orange Street, Wilmington, Delaware 19801. PSE&G is the sole member (parent) of Transition Funding. Transition Funding, which was organized for the purpose of purchasing intangible transition property and issuing transition bonds purchased PSE&G's property right in certain intangible transition property and issued transition bonds, on January 31, 2001. 1.1.G. PSEG Area Development LLC (Area Development), a New Jersey limited liability company, has its principal executive offices at 80 Park Plaza, Newark, New Jersey 07102. Area Development, a wholly-owned subsidiary of PSE&G, was formed to hold membership interests in limited liability companies that will provide the following services in New Jersey: real estate site finding, listing and referral and corporate relocation, strategic land use and economic development planning. 1.1.G.1. PSEG SiteFinders LLC (SiteFinders), a New Jersey limited liability company, has its principal executive offices at 80 Park Plaza, Newark, New Jersey 07102. SiteFinders, a wholly-owned subsidiary of Area Development, was formed to provide real estate site finding, listing and referral services in New Jersey. 1.1.G.2. PSEG Economic Development LLC (Economic Development), a New Jersey limited liability company, has its principal executive offices at 80 Park Plaza, Newark, New Jersey 07102. Economic Development, a wholly-owned subsidiary of Area Development, was formed to provide corporate relocation, strategic land use and economic development planning services in New Jersey. 1.2. PSEG Power LLC (Power), a Delaware limited liability company and a wholly-owned subsidiary of PSEG, has its principal executive offices at 80 Park Plaza, Newark, New Jersey 07102. Power and its subsidiaries were formed to acquire, own, operate and market the output of the electric generation-related assets formerly owned by PSE&G as well as new plants that it acquires or develops. Power has five direct wholly-owned subsidiaries and 11 indirect wholly-owned subsidiaries, discussed below. As of December 31, 2001, net of eliminations, Power comprised 20% of PSEG's assets. Power's 2001 revenues were 48% of PSEG's revenues and Power's 2001 earnings available to PSEG were 50% of PSEG's net income. 1.2.A. PSEG Fossil LLC (Fossil), a Delaware limited liability company, has its principal executive offices at 80 Park Plaza, Newark, New Jersey 07102. Fossil is an EWG and was formed to own and operate the fossil-fueled electric generation assets formerly owned by PSE&G, as well as to acquire, own and operate additional fossil-fueled electric generation assets. Fossil has 7 direct wholly-owned subsidiaries, discussed below. 1.2.A.1. PSEG Power New York Inc. (Power New York), a Delaware corporation, has its principal executive offices at Route 144 Glenmont, New York 12077. Power New York was formed in 1999 to acquire a fossil-fueled electric generation plant from Niagara Mohawk Power 3 Corporation located near Albany, New York. EWG status was granted on June 21, 2000. Power New York has one direct wholly-owned subsidiary discussed below. 1.2.A.1.(a) PSEG Power Hudson LLC (Power Hudson), a New York limited liability company, has its registered office at 111 Eighth Avenue, New York, NY 10011. Power Hudson was formed to acquire fossil-fueled electric generation assets located in the state of New York. 1.2.A.2. PSEG Power Cross Hudson Corporation (formerly PSEG Midwest Operating Company Inc.) (Cross Hudson), a Delaware corporation, has its registered office at 1209 Orange Street, Wilmington, Delaware 19801 and was renamed in 2001 for the purpose of developing power projects for delivery into New York City. This company is a wholly-owned subsidiary of Fossil. Cross Hudson has two direct wholly-owned subsidiaries discussed below. 1.2.A.2.(a) PSEG In-City I LLC (formerly PSEG Sidney Township Energy Company LLC), a Delaware limited liability company, has its registered office at 1209 Orange Street, Wilmington, Delaware 19801 and was renamed in 2001 for the purpose of developing power projects for delivery into New York City. 1.2.A.2.(b) PSEG In-City II LLC (formerly PSEG Power Fostoria Energy LLC), a Delaware limited liability company, has its registered office at 1209 Orange Street, Wilmington, Delaware 19801 and was renamed in 2001 for the purpose of developing power projects for delivery into New York City. 1.2.A.3. PSEG Lawrenceburg Energy Company LLC, a Delaware limited liability company, has its registered office at 1209 Orange Street, Wilmington, Delaware 19801 and was formed for the purpose of investing in a power facility in Lawrenceburg, Indiana. This company received EWG status on March 26, 2001. 1.2.A.4. PSEG Morristown Energy Company LLC, a Delaware limited liability company, has its registered office at 1209 Orange Street, Wilmington, Delaware 19801 and was formed for the purpose of investing in power facilities in Indiana. 1.2.A.5. PSEG Waterford Energy LLC, a Delaware limited liability company, has its registered office at 1209 Orange Street, Wilmington, Delaware 19801 and was formed for the purpose of investing in a power facility in Waterford, Ohio. This company is a wholly-owned subsidiary of Fossil. This company received EWG status on March 26, 2001. 1.2.A.6. PSEG Power Development LLC (formerly PSEG Americas Development LLC), a Delaware limited liability company, has its registered office at 1209 Orange Street, Wilmington, Delaware 19801 and was formed for the purpose of investing in power facilities in the Midwestern United States. 1.2.A.7. PSEG Power Midwest LLC, a Delaware limited liability company, has its registered office at 1209 Orange Street, Wilmington, Delaware 19801 and was formed for the purpose of operating power facilities in the Midwestern United States. 4 1.2.B. PSEG Nuclear LLC (Nuclear), a Delaware limited liability company, has its principal executive offices at 80 Park Plaza, Newark, New Jersey 07102. Nuclear is an EWG and was formed to own and operate the nuclear-fueled electric generation assets formerly owned by PSE&G, as well as to acquire, own and operate additional nuclear-fueled generation assets. Nuclear has one direct wholly-owned subsidiary, discussed below. 1.2.B.1 The Francis Corporation (TFC), a New Jersey corporation, has its principal executive offices at 80 Park Plaza, Newark, New Jersey 07102. TFC acquires real estate from time to time. 1.2.C. PSEG Power Fuels LLC (Power Fuels), a Delaware limited liability company, has its registered office at 1209 Orange Street, Wilmington, Delaware 19801. This company was formed in 2000 to hold an interest in Keystone Fuel LLC. 1.2.D. PSEG Energy Resources & Trade LLC (ER&T), a Delaware limited liability company, has its principal executive offices at 80 Park Plaza, Newark, New Jersey 07102. ER&T will provide energy and capacity to PSE&G under a full requirements contract through the end of July 2002 and will also market electricity, natural gas and capacity and ancillary services throughout the greater North East region (Northeast, Mid Atlantic and Mid-West) of the United States. 1.2.E. PSEG Power Capital Investment Co. (Power Capital), a Delaware corporation, has its principal executive offices at 1300 Market Street, Suite 602, Wilmington, Delaware 19801. This company was formed to provide financing to Power and its subsidiaries. 1.3. PSEG Energy Holdings Inc. (Energy Holdings), a New Jersey corporation, has its principal executive offices at 80 Park Plaza, Newark, New Jersey 07102. Energy Holdings is the parent of PSEG's other energy-related businesses besides Power. As of December 31, 2001, Energy Holdings comprised 29% of PSEG's assets. Energy Holdings' 2001 revenues were 12% of PSEG's revenues and Energy Holdings' 2001 earnings available to PSEG were 21% of PSEG's net income. Energy Holdings' six direct wholly-owned subsidiaries and 385 indirect subsidiaries are as follows: 1.3.A. PSEG Resources Inc. (PSEG Resources), a New Jersey corporation, has its principal executive offices at 80 Park Plaza, Newark, New Jersey 07102. PSEG Resources provides energy infrastructure financing in developed countries. PSEG Resources invests primarily in energy related financial transactions and manages a diversified portfolio of more than 60 investments, including leveraged leases, operating leases and leveraged buyout (LBO) funds, limited partnerships and marketable securities. The remainder of PSEG Resources' portfolio is further diversified across a wide spectrum of asset types and business sectors, including leveraged leases of aircraft, railcars, real estate and industrial equipment, limited partnership interests in project finance transactions, LBO and venture funds and marketable securities. Some of the transactions in which PSEG Resources and its subsidiaries participate involve other equity investors. As of December 31, 2001, PSEG Resources comprised 12% of PSEG's assets. PSEG Resources' 2001 revenues were 2% of PSEG's revenues and PSEG Resources' 2001 earnings available to PSEG were 8% of PSEG's net income. PSEG Resources is a wholly-owned subsidiary of Energy Holdings. PSEG Resources has 14 direct and 26 indirect wholly-owned subsidiaries as follows: 5 1.3.A.1. Resources Capital Financing Corporation (RCFC), a New Jersey corporation, has its principal executive offices at 80 Park Plaza, Newark, New Jersey 07102. RCFC is presently inactive. 1.3.A.2. Resources Capital Investment Corporation (RCIC), a New Jersey corporation, has its principal executive offices at 80 Park Plaza, Newark, New Jersey 07102. RCIC has investments in several leveraged lease transactions. 1.3.A.3. Resources Capital Sales Corporation (RCSC) is incorporated under the laws of the United States Virgin Islands and has its principal executive offices at Guardian Building, Havensight, and Saint Thomas, United States Virgin Islands 00801. RCSC was formed in connection with investment activities of PSEG Resources to receive the benefits available to a foreign sales corporation (FSC) under the Internal Revenue Code for the purpose of arranging the export of sales and leases of United States manufactured products, including the financing, management, negotiation and contracting of such sales and leases. 1.3.A.4. Resources Capital Management Corporation (RCMC), a New Jersey corporation, has its principal executive offices at 80 Park Plaza, Newark, New Jersey 07102. As of December 31, 2001, RCMC comprised 4% of PSEG's assets. RCMC's 2001 revenues were 1% of PSEG's revenues and RCMC's 2001 net income was 4% of PSEG's income. RCMC has investments in a project financing and several leveraged leases. RCMC has seven direct and four indirect wholly-owned subsidiaries as follows: 1.3.A.4.(a) Renaissance Tower Associates, Inc. (Tower), a Connecticut corporation, has its principal executive offices at 80 Park Plaza, Newark, New Jersey 07102. Tower is presently inactive and in the process of dissolution. 1.3A.4.(b) LMC Phase II, LLC (LMC), a Delaware limited liability company, has its principal executive offices at 80 Park Plaza, Newark, New Jersey 07102. LMC acts as ground lessee, operating lessor and borrower of a first mortgage loan with respect to the leveraged lease investment of RCMC in a Detroit, Michigan office complex. 1.3.A.4.(c) RCMC Sales Corporation (RCMC SC) is incorporated under the laws of the United States Virgin Islands, and has its principal executive offices at Guardian Building, Havensight, Saint Thomas, United States Virgin Islands 00801. RCMC SC was formed as a FSC in connection with investment activities of RCMC. RCMC SC is presently inactive. 1.3.A.4.(d) RCMC One, Incorporated, a New Jersey corporation has its principal executive offices at 80 Park Plaza, Newark, New Jersey 07102, and is presently inactive. 1.3.A.4.(e) RCMC, Inc. (RCMCI), a Delaware corporation, has its principal executive offices at 1300 Market Street, Suite 405, Wilmington, Delaware 19801. RCMCI has an investment in a limited partnership investment in an advanced flue gas desulfurization facility in Porter County, Indiana. 1.3.A.4.(f) RCMC I, Inc. (RCMC I), a Delaware corporation, has its principal executive offices at 1300 Market Street, Suite 405, Wilmington, Delaware 19801. RCMC I has investments in a 6 leveraged lease of an undivided interest of System Energy Resources Inc.'s interest in a nuclear generating station in Port Gibson, Mississippi and in a leveraged lease of an office facility in Denver, Colorado. 1.3.A.4.(g) PSEG Newburgh Holdings LLC, (Newburgh), a Delaware limited liability company, has its principal executive offices at 80 Park Plaza, Newark, New Jersey 07102. Newburgh has indirect investments in two (2) oil/natural gas-fired boiler and steam turbine generators, and an undivided interest in certain common facilities related thereto located in Newburgh, New York. Newburgh has two direct and two indirect wholly-owned subsidiaries as follows: 1.3.A.4.(g)(i) Danskammer OP LLC, (Danskammer OP), a Delaware limited liability company, has its principal executive offices at 80 Park Plaza, Newark, New Jersey 07102. Roseton OP is the Owner Participant in connection with Newburgh's investment in the Danskammer facility, an oil/natural gas-fired boiler and steam turbine generator, and an undivided interest in certain common facilities related thereto located in Newburgh, New York, and is an EWG. Danskammer OP has one direct wholly-owned subsidiary as follows: 1.3.A.4.(g)(i)(A) Danskammer OL LLC, (Danskammer OL), a Delaware limited liability company, has its principal executive offices at 80 Park Plaza, Newark, New Jersey 07102. Danskammer OL is the Owner Lessor in connection with Newburgh's investment in the Danskammer facility, an oil/natural gas-fired boiler and steam turbine generator, and an undivided interest in certain common facilities related thereto located in Newburgh, New York, and is an EWG. 1.3.A.4(g)(ii) Roseton OP LLC, (Roseton OP), a Delaware limited liability company, has its principal executive offices at 80 Park Plaza, Newark, New Jersey 07102. Danskammer OP is the Owner Participant in connection with Newburgh's investment in the Roseton facility, an oil/natural gas-fired boiler and steam turbine generator, and an undivided interest in certain common facilities related thereto located in Newburgh, New York, and is an EWG. Roseton OP has one direct wholly-owned subsidiary as follows: 1.3.A.4.(g)(ii)(A) Roseton OL LLC, (Roseton OL), a Delaware limited liability company, has its principal executive offices at 80 Park Plaza, Newark, New Jersey 07102. Roseton OL is the Owner Lessor in connection with Newburgh's investment in the Danskammer facility, an oil/natural gas-fired boiler and steam turbine generator, and an undivided interest in certain common facilities related thereto located in Newburgh, New York, and is an EWG. 1.3.A.5. PSRC Sales Corporation One (PSRC One) is incorporated under the laws of the United States Virgin Islands and has its principal executive offices at Guardian Building, Havensight, Saint Thomas, United States Virgin Islands 00801. PSRC One was formed as a FSC in connection with certain investment activities of PSEG Resources. 1.3.A.6. PSRC Sales Corporation Two (PSRC Two) is incorporated under the laws of the United States Virgin Islands and has its principal executive offices at Guardian Building, Havensight, Saint Thomas, United States Virgin Islands 00801. PSRC Two was formed as a FSC in connection with certain investment activities of PSEG Resources. 7 1.3.A.7. PSRC Sales Corporation Three (PSRC Three) is incorporated under the laws of the United States Virgin Islands and has its principal executive offices at Guardian Building, Havensight, Saint Thomas, United States Virgin Islands 00801. PSRC Three was formed as a FSC in connection with certain investment activities of PSEG Resources, and is presently inactive. 1.3.A.8. PSRC Sales Corporation Four (PSRC Four) is incorporated under the laws of the United States Virgin Islands and has its principal executive offices at Guardian Building, Havensight, Saint Thomas, United States Virgin Islands 00801. PSRC Four was formed as a FSC in connection with certain investment activities of PSEG Resources. 1.3.A.9. PSRC, Inc. (PSRCI), a Delaware corporation, has its principal executive offices at 1300 Market Street, Suite 405, Wilmington, Delaware 19801. PSRCI has investments in several leveraged lease transactions and a limited partnership interest in a developer of an historic real estate rehabilitation project in Philadelphia, Pennsylvania. 1.3.A.10. PSRC II, Inc. (PSRC II), a Delaware corporation, has its principal executive offices at 1300 Market Street, Suite 405, Wilmington, Delaware 19801. PSRC II has investments in leveraged buyout funds, limited partnerships and securities. 1.3.A.11. Enterprise Energy Technology Group, Inc., a Delaware corporation, has its principal executive offices at 1300 Market Street, Wilmington, Delaware 19801, and is presently inactive. 1.3.A.12. PSEG Collins Generation, LLC (Collins Generation), a Delaware limited liability company, has its principal executive offices at 80 Park Plaza, Newark, New Jersey 07102. Collins Generation has indirect investments in five gas/oil-fired steam generating units located in Grundy County, Illinois. Collins Generation has four direct wholly-owned subsidiaries as follows: 1.3.A.12.(a) Collins Generation I, LLC (Collins I), a Delaware limited liability company, has its principal executive offices at 80 Park Plaza, Newark, New Jersey 07102. Collins I is the Owner Participant in connection with an undivided interest in five gas/oil-fired steam generating units located in Grundy County, Illinois. 1.3.A.12.(b) Collins Generation II, LLC (Collins II), a Delaware limited liability company, has its principal executive offices at 80 Park Plaza, Newark, New Jersey 07102. Collins II is the Owner Participant in connection with an undivided interest in five gas/oil-fired steam generating units located in Grundy County, Illinois. 1.3.A.12.(c) Collins Generation III, LLC (Collins III), a Delaware limited liability company, has its principal executive offices at 80 Park Plaza, Newark, New Jersey 07102. Collins III is the Owner Participant in connection with an undivided interest in five gas/oil-fired steam generating units located in Grundy County, Illinois. 1.3.A.12.(d) Collins Generation IV, LLC (Collins IV), a Delaware limited liability company, has its principal executive offices at 80 Park Plaza, Newark, New Jersey 07102. Collins IV is the Owner Participant in connection with an undivided interest in five gas/oil-fired steam generating units located in Grundy County, Illinois. 8 1.3.A.13. PSEGR PJM, LLC (PSEGR PJM), a Delaware limited liability company, has its principal executive offices at 80 Park Plaza, Newark, New Jersey 07102. PSEGR PJM has indirect investments in three (3) generation facilities: (1) the Conemaugh Station (Conemaugh), a generating facility located near New Florence, Pennsylvania. PSEGR PJM indirectly owns an undivided interest in Conemaugh, (2) the Keystone Station (Keystone), a generating facility located in Plumcreek Township, Pennsylvania. PSEGR PJM indirectly owns an undivided interest in Keystone, and (3) the Shawville Station (Shawville), a generating facility located in Bradford Township, Pennsylvania. PSEGR PJM indirectly owns a 100% interest in Shawville. PSEGR PJM has three direct and six indirect wholly-owned subsidiaries as follows: 1.3.A.13.(a) PSEGR Conemaugh, LLC (PSEGR Conemaugh), a Delaware limited liability company, has its principal executive offices at 80 Park Plaza, Newark, New Jersey 07102. PSEGR Conemaugh has an indirect investment in Conemaugh. PSEGR Conemaugh has one direct and one indirect wholly-owned subsidiary as follows: 1.3.A.13.(a)(i) PSEGR Conemaugh Generation, LLC (Conemaugh Generation), a Delaware limited liability company, has its principal executive offices at 80 Park Plaza, Newark, New Jersey 07102. Conemaugh Generation is the Owner Participant in connection with an undivided interest in three generating stations with a collective capacity of approximately 1,711 megawatts located in New Florence, Pennsylvania (Conemaugh). Conemaugh Generation has one direct wholly-owned subsidiary as follows: 1.3.A.13.(a)(i)(A) Conemaugh Lessor Genco, LLC (Conemaugh Lessor), a Delaware limited liability company, has its principal executive offices at 80 Park Plaza, Newark, New Jersey 07102. Conemaugh Lessor is the lessor of an undivided interest in Conemaugh, and is an EWG. 1.3.A.13.(b) PSEGR Keystone, LLC (PSEGR Keystone), a Delaware limited liability company, has its principal executive offices at 80 Park Plaza, Newark, New Jersey 07102. PSEGR Keystone has an indirect investment in Keystone. PSEGR Keystone has one direct and one indirect wholly-owned subsidiary as follows: 1.3.A.13.(b)(i) PSEGR Keystone Generation, LLC (Keystone Generation), a Delaware limited liability company, has its principal executive offices at 80 Park Plaza, Newark, New Jersey 07102. Keystone Generation is the Owner Participant in connection with an undivided interest in three generating stations with a collective capacity of approximately 1,711 megawatts located in Plumcreek Township, Pennsylvania (Keystone). Keystone Generation has one direct wholly-owned subsidiary as follows: 1.3.A.13.(b)(i)(A) Keystone Lessor Genco, LLC (Keystone Lessor), a Delaware limited liability company, has its principal executive offices at 80 Park Plaza, Newark, New Jersey 07102. Keystone Lessor is the lessor of an undivided interest in Keystone, and is an EWG. 1.3.A.13.(c) PSEGR Shawville, LLC (PSEGR Shawville), a Delaware limited liability company, has its principal executive offices at 80 Park Plaza, Newark, New Jersey 07102. PSEGR Shawville has an indirect investment in Shawville. PSEGR Shawville has one direct and one indirect wholly-owned subsidiary as follows: 9 1.3.A.13.(c)(i) PSEGR Shawville Generation, LLC (Shawville Generation), a Delaware limited liability company, has its principal executive offices at 80 Park Plaza, Newark, New Jersey 07102. Shawville Generation is the Owner Participant in connection with an undivided interest in three generating stations with a collective capacity of approximately 613 megawatts located in Bradford Township, Pennsylvania (Shawville). Shawville Generation has one direct wholly-owned subsidiary as follows: 1.3.A.13.(c)(i)(A) Shawville Lessor Genco, LLC (Shawville Lessor), a Delaware limited liability company, has its principal executive offices at 80 Park Plaza, Newark, New Jersey 07102. Shawville Lessor is the lessor of an undivided interest in Shawville, and is an EWG. 1.3.A.14. PSEGR Midwest, LLC (PSEGR Midwest), a Delaware limited liability company, has its principal executive offices at 80 Park Plaza, Newark, New Jersey 07102. PSEGR Midwest has an indirect investment in two coal-fired steam generating units located in Pekin, Illinois (Powerton) and Joliet, Illinois (Joliet), respectively with a collective capacity of approximately 2,582 megawatts. PSEGR Midwest has two direct wholly-owned subsidiaries as follows: 1.3.A.14.(a) Powerton Generation I, LLC (Powerton Generation), a Delaware limited liability company, has its principal executive offices at 80 Park Plaza, Newark, New Jersey 07102. Powerton Generation is the Owner Participant in connection with a 100% interest in Powerton. 1.3.A.14.(b) Joliet Generation I, LLC (Joliet Generation), a Delaware limited liability company, has its principal executive offices at 80 Park Plaza, Newark, New Jersey 07102. Joliet Generation is the Owner Participant in connection with a 100% interest in Joliet. 1.3.B. PSEG Global Inc. (PSEG Global), a New Jersey corporation, has its principal executive offices at 35 Waterview Boulevard, Parsippany, New Jersey 07054. PSEG Global invests and participates in the development and operation of projects in the generation and distribution of energy, which includes cogeneration and independent power production facilities (IPP), and electric distribution companies. The majority of such IPPs are domestic facilities designated as "qualifying facilities" (QFs) under the Public Utility Regulatory Policies Act of 1978, as amended (PURPA), some of which are designated as "foreign utility companies" (FUCOs) under the Public Utility Holding Company Act of 1935, as amended (PUHCA), and some of which are designated as "exempt wholesale generators" (EWGs) under PUHCA. PSEG Global is a wholly-owned subsidiary of PSEG Energy Holdings Inc. PSEG Global has three direct wholly-owned subsidiaries, PSEG Baja Inc. (Baja), PSEG Global USA Inc. (PSEG Global USA), and PSEG Global Holding Company, as well as 316 indirect subsidiaries including limited and general partnership interests. Baja invests in projects in New Jersey. PSEG Global USA and its subsidiaries invest in projects which sell power to other domestic and foreign entities as well as transmission and distribution projects. PSEG Global Holding Company and its subsidiaries invest in projects internationally. In addition to its investment in Baja, PSEG Global USA, and PSEG Global Holding Company, PSEG Global is a limited partner in 2 QFs: (i) UAH-Hydro Kennebec Limited Partnership (15.6% limited partnership interest) which owns a hydroelectric facility in Winslow, Maine, and (ii) Luz Solar Partners, III (8.9% limited partnership interest) which owns a solar facility in Kramer Junction, California. PSEG Global also is a limited partner in (i) Indeck North American Power Fund, L.P. (Indeck), (6.8% limited partnership interest) which invests in QFs and EWGs, and (ii) Indeck North 10 American Power Partners, L.P., (13.3% limited partnership interest) which is the general partner of Indeck (1% general partnership interest). In addition, Indeck owns a 99% interest in Black Hills Harbor, LLC (Black Hills Harbor), formerly Indeck Harbor, LLC and, in turn, Black Hills Harbor owns a 70% general partnership interest in Harbor Cogeneration Company. As of December 31, 2001, PSEG Global comprised 16% of PSEG's assets. PSEG Global's 2001 revenues were 5% of PSEG's revenues and PSEG Global's 2001 earnings available to PSEG were 15% of PSEG's net income. 1.3.B.1. PSEG Baja Inc., a Delaware corporation, has its registered office at 1209 Orange Street, Wilimington, Delaware 19801 and was formed for the purpose of investing in North America. 1.3.B.2. PSEG Global USA, a New Jersey corporation, has its principal executive offices at 35 Waterview Boulevard, Parsippany, New Jersey 07054. PSEG Global USA has a total of 114 direct and indirect subsidiaries including limited and general partnership interests as described below: 1.3.B.2.(a) CEMAS Corporation (CEMAS), a Delaware corporation, has its registered office at 1209 Orange Street, Wilmington, Delaware 19801. CEMAS owns 18.63% of Inversora de San Nicolas, S.A. (ISN), 100% of Empresa Argentina Electrica I, Inc. (EAEI), and 4.95% of AES San Nicolas, Inc. (ASNI), (defined below). 1.3.B.2.(a)(i) ASNI, a Delaware corporation, has its principal office at 1001 N. 19th Street, Arlington, Virginia 22209, and is owned 4.95% by CEMAS. ASNI owns 62.74% of ISN, (defined below). 1.3.B.2.(a)(i)(A) ISN, an Argentine corporation, has its principal executive offices at Cerrito 1294, Piso 3, (1062), Buenos Aires (Capital Federal), Argentina. ISN owns an 88% controlling stockholder interest in Central Termica San Nicolas, S.A. (CTSN), (defined below). 1.3.B.2.(a)(i)(A)(i) CTSN, an Argentine corporation, has its principal executive offices at Cerrito 1294, Piso 3, (1062), Buenos Aires (Capital Federal), Argentina. CTSN owns a coal-fired electric generating station in San Nicolas, Argentina, and is an EWG. 1.3.B.2.(b) PSEG Sviluppo Srl, an Italian Company, has its registered office at Via Guiseppe Cuboni, n.12, Rome Italy and was formed for the purpose of asset management in Italy. PSEG Sviluppo Srl is owned 98% by PSEG Global USA Inc. and 2% by PSEG International Inc. 1.3.B.2.(c) National Energy Partners, a Delaware limited partnership, has its registered office at 1209 Orange Street, Wilmington, Delaware 19801, and owns 100% of GWF Power Systems Company, Inc. (GWF PSC). PSEG Global USA is a 50% general partner in National Energy Partners. National Energy Partners has one direct subsidiary and two indirect subsidiaries, described below. 1.3.B.2.(c)(i) GWF PSC, a California corporation, has its principal executive offices at 4300 Railroad Avenue, Pittsburg, California 94565. GWF PSC has the following direct and indirect wholly and partially owned subsidiaries: 1.3.B.2.(c)(i)(A) GWF Bay Area, Inc. (GWF Bay), a California corporation, has its principal executive offices at 4300 Railroad Avenue, Pittsburg, California 94565. GWF Bay is a 2% managing general partner of GWF Power Systems LP (GWFLP). GWF Bay is an indirect 50% owned subsidiary of PSEG Global USA. 11 1.3.B.2.(c)(i)(A)(i) GWFLP, a Delaware limited partnership, has its principal executive offices at 4300 Railroad Avenue, Pittsburg, California 94565, and owns and operates five petroleum coke-fired small power production QFs in Contra Costa County, California. PSEG Global USA directly owns a 48.5% limited partnership interest in GWFLP. In addition, PSEG Bay Area Inc. (PSEG Bay)(described below), owns a 0.5% general partnership interest in GWFLP. 1.3.B.2.(c)(i)(B) GWF Hanford, Inc. (GWF HI), a California corporation, has its principal executive offices at 4300 Railroad Avenue, Pittsburg, California 94565. GWF HI is a 2% managing general partner of Hanford L.P. (HLP). GWF HI is an indirect 50% owned subsidiary of PSEG Global USA. 1.3.B.2.(c)(i)(B)(i) HLP, a Delaware limited partnership, has its principal executive offices at 4300 Railroad Avenue, Pittsburg, California 94565 and is the owner of a petroleum coke -fired smallpower production QF in Hanford, California. PSEG Global USA directly owns a 48.5% limited partnership interest in HLP. PSEG Hanford Inc. (PSEG HI) owns a 0.5% general partnership interest in HLP. 1.3.B.2.(d) PSEG Asia Inc. (PSEG Asia), a Delaware corporation, has its principal executive offices at Room 1701 Harbour Centre, 25 Harbour Road, Wanchai, Hong Kong Special Administrative Region, People's Republic of China (China) and is presently inactive. PSEG Asia has one direct wholly-owned subsidiary, as discussed below. 1.3.B.2.(d)(i) PSEG Asia Ltd., a Bermuda limited liability company, has its principal executive offices at Clarendon House, 2 Church Street, Hamilton, Bermuda and is a developer of EWG and FUCO power production facilities in Asia. PSEG Asia Ltd. is presently inactive. 1.3.B.2.(e) PSEG Conemaugh Management Inc. (PSEG CMI), a New Jersey corporation, has its principal executive offices at 35 Waterview Boulevard, Parsippany, New Jersey 07054. PSEG CMI is a 0.5% general partner in Pennsylvania Renewable Resources Associates (PRRA). 1.3.B.2.(e)(i) PRRA, a Pennsylvania limited partnership, has its principal executive offices at 1370 Avenue of the Americas, Suite 3300, New York, New York 10019. PRRA owns a hydroelectric QF in Saltsburg, Pennsylvania. PSEG Mount Carmel Inc. (described below) is a 49.5% limited partner in PRRA. 1.3.B.2.(f) PSEG GWF Inc., a New Jersey corporation, has its principal executive offices at 35 Waterview Boulevard, Parsippany, New Jersey 07054, and has two direct wholly-owned subsidiaries as described below: 1.3.B.2.(f)(i) PSEG Bay, a Delaware corporation, has its principal executive offices at 4300 Railroad Avenue, Pittsburg, California 94565. PSEG Bay is a 0.5% general partner in GWFLP (described above), which is the owner and operator of five petroleum coke-fired small power production facilities in Contra Costa County, California. PSEG Global USA directly owns a 48.5% limited partnership interest in GWFLP. All five facilities are QFs. 12 1.3.B.2.(f)(ii) PSEG HI, a Delaware corporation, has its principal executive offices at 4300 Railroad Avenue, Pittsburg, California 94565. PSEG HI is a 0.5% general partner in Hanford L.P. (HLP) (described above), which is the owner of a petroleum coke and natural gas-fired cogeneration QF in Hanford, California. PSEG Global USA directly owns a 48.5% limited partnership interest in HLP. 1.3.B.2.(g) PSEG Hawaiian Investment Inc., a Delaware corporation, has its registered office at 1209 Orange Street, Wilmington, Delaware 19801, and owns a 48.49% limited partnership interest in Kalaeloa Investment Partners, L.P. (KIPLP), a Delaware limited partnership. 1.3.B.2.(h) PSEG Hawaiian Management Inc., a Delaware corporation, has its registered office at 1209 Orange Street, Wilmington, Delaware 19801, and is a 1% general partner in KIPLP. 1.3.B.2.(h)(i) KIPLP, a Delaware limited partnership, has its registered office at 1209 Orange Street, Wilmington, Delaware 19801, and owns a 99% limited partnership interest in Kalaeloa Partners, L.P. (KPLP). 1.3.B.2.(h)(i)(a) KPLP, a Delaware limited partnership, has its registered office at 1209 Orange Street, Wilmington, Delaware 19801, and owns a heavy oil-fired cogeneration QF on the Island of Oahu in Hawaii. 1.3.B.2.(i) PSEG India Inc., a Delaware corporation, has its registered office at 1209 Orange Street, Wilmington, Delaware 19801 and holds one share of PSEG India Private Limited (PIPL). 1.3.B.2.(j) PIPL, an Indian company, has its principal executive offices at "Prince Towers", Floor No. 9, No. 25-26, College Road, Chennai, India 600006, and was formed for the purpose of developing power production facilities in India. All but one share of PIPL is owned by PSEG Global USA Inc. The remaining 1 share is owned by PSEG India Inc. 1.3.B.2.(k) PSEG International Services Inc., a Delaware corporation, has its registered office at 1209 Orange Street, Wilmington, Delaware 19801, and provides management, operations and maintenance personnel to some of the international subsidiaries of PSEG Global USA. 1.3.B.2.(l) PSEG Kalaeloa Inc., a Delaware corporation, has its registered office at 1209 Orange Street, Wilmington, Delaware 19801, and was formed for the purpose of acquiring a 1% general partnership interest in KPLP (described above), a Delaware limited partnership. (The remaining 99% limited partnership interest is owned by KIPLP, which is also described above.) 1.3.B.2.(m) PSEG Leasing Inc., a New Jersey corporation, has its principal executive offices at 35 Waterview Boulevard, Parsippany, New Jersey 07054, and is a 50% general partner in National Energy Leasing Partners, (NELP). 1.3.B.2.(m)(i) NELP, a Delaware limited partnership, has its principal executive offices at One Riverchase Parkway South, Birmingham, Alabama 35244. NELP has entered into lease transactions with respect to certain of the equipment installed at the Hanford small power production QF of HLP (described above) and the five Contra Costa County, California small power production QFs of GWFLP (described above). 13 1.3.B.2.(n) PSEG Henrietta Turbine Inc., formerly PSEG Mexico Inc., a Delaware corporation, has its registered office at 1209 Orange Street, Wilmington, Delaware 19801, and is presently inactive. 1.3.B.2.(o) PSEG Mount Carmel Inc., a New Jersey corporation, has its principal executive offices at 35 Waterview Boulevard, Parsippany, New Jersey 07054, and is a 49.5% limited partner in PRRA (described above). PSEG Conemaugh Management Inc. owns a 0.5% general partnership interest in PRRA, resulting in a 50% indirect ownership by PSEG Global USA. 1.3.B.2.(p) PSEG New Hampshire Inc. (PSEG NH), a New Hampshire corporation, has its principal executive offices in Bridgewater, New Hampshire. PSEG NH is a co-managing 40% general partner in Bridgewater Power Company, L.P. (BPCLP). 1.3.B.2.(p)(i) BPCLP, a New Hampshire limited partnership, has its principal executive offices at Route 3, Bridgewater, New Hampshire 03222. BPCLP owns a biomass-fired small power production QF in Bridgewater, New Hampshire. 1.3.B.2.(q) PSEG Project Services Inc. (PSEG PRO), a New Jersey corporation, has its principal executive offices at 35 Waterview Boulevard, Parsippany, New Jersey 07054. PSEG PRO provides engineering, procurement, construction and management services and owns a 50% general partnership interest in each of the two following limited partnerships: 1.3.B.2.(q)(i) National Energy Constructors, a California limited partnership, has its principal executive offices at One Riverchase Parkway South, Birmingham, Alabama 35244, and has constructed five petroleum coke-fired small power production QFs owned and operated by GWFLP (described above) and a petroleum coke-fired small power production QF owned by HLP (described above). 1.3.B.2.(q)(ii) Tracy Operators, a California limited partnership, has its principal executive offices at 14800 West Schulte Road, Tracy, California 95376, and operates and maintains a biomass-fired small power production QF in Tracy, California in which PSEG Tracy Inc. (described below) has an ownership interest. 1.3.B.2.(r) PSEG Tracy Inc., a New Jersey corporation, has its principal executive offices at 35 Waterview Boulevard, Parsippany, New Jersey 07054, and is a co-managing 34.5% general partner in Thermal Energy Development Partnership, L.P. (TEDPLP). 1.3.B.2.(r)(i) TEDPLP, a Delaware limited partnership, has its principal executive offices at 14800 West Schulte Road, Tracy, California 95376. TEDPLP owns a biomass-fired small power production QF in Tracy, California. 1.3.B.2.(s) PSEG U.S. Services Inc., a Delaware corporation, has its registered office at 1209 Orange Street, Wilmington, Delaware 19801, and was formed for the purposes of future investment in Texas and is now inactive. 14 1.3.B.2.(t) PSEG International Inc., a Delaware corporation, has its registered office at 1209 Orange Street, Wilmington, Delaware 19801, and has the following direct and indirect wholly and partially owned subsidiaries: 1.3.B.2.(t)(i) PSEG Americas Services Inc. (PSEG-ASI), a Delaware corporation, has its registered office at 1209 Orange Street, Wilmington, Delaware 19801. PSEG-ASI provides management, operations and maintenance personnel to some of the international subsidiaries of PSEG Global USA. 1.3.B.2.(t)(ii) PSEG Middle East Inc., formerly PSEG Barka Inc., a Delaware corporation, has its registered office at 1209 Orange Street, Wilmington, Delaware 19801, and has one direct wholly-owned subsidiary: 1.3.B.2.(t)(ii)(A) PSEG Global Power Holdings Ltd. (GPH), formerly Barka Power Holdings Ltd., a Bermuda limited liability company, has its principal offices at Clarendon House, 2 Church Street, Hamilton HMCX HM11, Bermuda. GPH was formed for the purpose of investing in power facilities in Muscat, Oman, which are expected to qualify upon completion as an EWG. 1.3.B.2.(t)(iii) PSEG (Bermuda) Holdings II Ltd., a Bermuda limited liability company, has its principal executive offices at Clarendon House, 2 Church Street, Hamilton, Bermuda, and has the following direct and indirect wholly and partially owned subsidiaries: 1.3.B.2.(t)(iii)(A) PSEG Bhilai Energy Company Ltd., a Mauritius company, has its registered office at 608 St. James Court, St. Denis Street, Port Louis, Mauritius has one direct 45% owned subsidiary, and is an EWG. 1.3.B.2.(t)(iii)(A)(i) Bhilai Power Supply Company Limited, an Indian company, has its registered office at Vijaya Building (7th Floor), 17 Barakhamba Road, New Delhi 110001, India, and will construct and own a 574 MW coal-fired power plant in Malhya Pradish, India. 1.3.B.2.(t)(iv) ECI International Development, Inc., a Delaware corporation, has its registered office at 1209 Orange Street, Wilmington, Delaware 19801, and is presently inactive. 1.3.B.2.(t)(v) PSEG Americas Inc., a Delaware corporation, has its registered office at 1209 Orange Street, Wilmington, Delaware 19801, and has the following direct and indirect wholly and partially owned subsidiaries and owns a 0.01% interest in PSEG Americas Operating Company (PSEGAOC) as described below: 1.3.B.2.(t)(v)(A) La Plata I Inc.(La Plata I), a Delaware Company, has its registered office at 1209 Orange Street, Wilmington, Delaware 19801, and was formed for the purpose of acting as a holding company for purposes of investing in and holding interests in La Plata Partners, L.P. La Plata I is a direct and wholly owned subsidiary of PSEG Americas Inc. 1.3.B.2.(t)(v)(A)(i) La Plata Partners L.P., a Delaware limited partnership, has its principal executive offices at 1001 North 19th Street, Arlington, Virginia 22209, and was formed for the purpose of holding shares or other equity interests and to invest in other entities which are 15 directly or indirectly engaged in the electric energy business. La Plata I holds a direct 33.33% interest in La Plata Partners L.P. La Plata II, Inc. (described below) holds a direct 1% interest in La Plata Partners L.P. 1.3.B.2.(t)(v)(A)(i)(a) La Plata Holdings, Inc.(La Plata Holdings), a Delaware corporation, has its principal executive offices at 1001 North 19th Street, Arlington, Virginia 22209, and was formed for the purpose of acting as a holding company for purposes of investing in and holding interests in Camille, Ltd. La Plata Holdings is a direct wholly-owned subsidiary of La Plata Partners L.P. 1.3.B.2.(t)(v)(A)(i)(a)(i) Camille Ltd., a Cayman Islands company, has its registered offices at Leeward One Building, Safe Haven Corporate Centre, West Bay Road, P.O. Box 31106SMB, George Town, Grand Cayman, Cayman Islands, British West Indies, and was formed for the purpose of executing, delivering and performing its obligations under and consummating the transaction contemplated by the Stock Purchase Agreement. 100% of Class A Preferred stock is directly owned by La Plata Holdings 33.33% of the Class B Common stock is directly owned by Wildwood I Ltd. (described below). 1.3.B.2.(t)(v)(A)(i)(a)(i)(A) Luz de la Plata S.A., an Argentine Sociedad Anonima, has its registered offices in Buenos Aires, Argentina, and was formed for the purpose of investing in generation, transmission, distribution, commercialization, purchase and sale of electricity. Luz de la Plata S.A. is a direct wholly-owned subsidiary of Camille Ltd. 1.3.B.2.(t)(v)(A)(i)(a)(i)(B) Compania de Inversiones en Electricidad S.A. (COINELEC), an Argentine Sociedad Anonima, has its registered offices in Buenos Aires, Argentina and was formed for the purpose of making investments, including participation in joint ventures, buying and selling stocks, bonds, debentures or other assets, public or private, and any related activities. A 40% interest in COINELEC is directly owned by Camille Ltd. (described above), the remaining 60% interest is directly owned by Luz de la Plata S.A. (described above). 1.3.B.2.(t)(v)(A)(i)(a)(i)(B)(i) Empresa Distribuidora La Plata Sociedad Anonima (EDELAP), an Argentine Sociedad Anonima, has its registered offices in Buenos Aires, Argentina, is a FUCO, and was formed for the purpose of offering services of distribution and commercialization of electricity in accordance with the terms of the Concession Contract. 51% of EDELAP Class A stock is directly owned by COINELEC (described above), 31.942% of EDELAP Class B shares is directly owned by Luz de la Plata S.A. (described above) and an additional 7.058% of EDELAP Class B Shares are directly owned by Camille Ltd. (described above). 1.3.B.2.(t)(v)(A)(i)(a)(i)(B)(ii) Central Dique Sociedad Anonima (Central Dique), an Argentine Sociedad Anonima, has its registered offices in Buenos Aires, Argentina, and was formed for the purpose of producing electricity and selling it in bulk. COINELEC (described above) holds 51% Class A shares in Central Dique. 1.3.B.2.(t)(v)(B) La Plata II, Inc., a Delaware Corporation, has its principal executive offices at 1001 North 19th Street, Arlington, Virginia 22209, and was formed for the purpose of acting as a holding company for purposes of investing in and holding interests in La Plata Partners, L.P. A 33.33% interest in La Plata II, Inc. is directly held by PSEG Americas Inc. (described above). 16 1.3.B.2.(t)(v)(C) PSEG Texgen Holdings Inc. (Texgen Holdings), a Delaware company, has its registered office at 1209 Orange Street, Wilmington, Delaware 19801 and was formed for the purpose of future investments in Texas. Texgen Holdings has the following direct and indirect subsidiaries: 1.3.B.2.(t)(v)(C)(i) PSEG Texgen I Inc. (Texgen I), a Delaware company, has its registered office at 1209 Orange Street, Wilmington, Delaware 19801 and owns a 0.5% interest in Texas Independent Energy, L.P. 1.3.B.2.(t)(v)(C)(ii) PSEG Texgen II Inc. (Texgen II), a Delaware company, has its registered office at 1209 Orange Street, Wilmington, Delaware 19801 and owns a 49.5% interest in Texas Independent Energy, L.P. 1.3.B.2.(t)(v)(C)(ii)(a) Texas Independent Energy, L.P. (TIELP), a Delaware limited partnership, has its registered office at 1209 Orange Street, Wilmington, Delaware 19801 and was formed for the purpose of investing in power generating facilities in Texas. PSEG Texgen I and II together own 50% of TIELP. TIELP has seven direct and 4 indirect subsidiaries as described below. 1.3.B.2.(t)(v)(C)(ii)(a)(i) Archer Power I, LLC, a Delaware limited liability company, has its registered office at 1209 Orange Street, Wilmington, Delaware 19801 and owns a 1% general partnership interest in Archer Power Partners, LP as described below. 1.3.B.2.(t)(v)(C)(ii)(b) Archer Power II, LLC, a Delaware limited liability company, has its registered office at 1209 Orange Street, Wilmington, Delaware 19801 and owns a 99% limited partnership interest in Archer Power Partners, LP as described below. 1.3.B.2.(t)(v)(C)(ii)(b)(i) Archer Power Partners, LP, a Delaware limited partnership, has its registered office at 1209 Orange Street, Wilmington, Delaware 19801 and was formed for the purpose of investing in a future power generating facility in Archer County, Texas, which will be an EWG if built. 1.3.B.2.(t)(v)(C)(ii)(c) Guadalupe Power I, LLC, a Delaware limited liability company, has its registered office at 1209 Orange Street, Wilmington, Delaware 19801 and owns a 1% general partnership interest in Guadalupe Power Partners, LP as described below. 1.3.B.2.(t)(v)(C)(ii)(d) Guadalupe Power II, LLC, a Delaware limited liability company, has its registered office at 1209 Orange Street, Wilmington, Delaware 19801 and owns a 99% limited partnership interest in Guadalupe Power Partners, LP as described below. 1.3.B.2.(t)(v)(C)(ii)(d)(i) Guadalupe Power Partners, LP, a Delaware limited partnership, has its registered office at 1209 Orange Street, Wilmington, Delaware 19801 and owns a power generating facility in Guadalupe, Texas, which is an EWG. 1.3.B.2.(t)(v)(C)(ii)(e) Odessa-Ector Power I, LLC, a Delaware limited liability company, has its registered office at 1209 Orange Street, Wilmington, Delaware 19801 and owns a 1% general 17 partnership interest in Odessa-Ector Power Partners, LP and Odessa-Ector Power Partners Services LP as described below. 1.3.B.2.(t)(v)(C)(ii)(f) Odessa-Ector Power II, LLC, a Delaware limited liability company, has its registered office at 1209 Orange Street, Wilmington, Delaware 19801 and owns a 99% limited partnership interest in Odessa-Ector Power Partners Services, LP as described below. 1.3.B.2.(t)(v)(C)(ii)(f)(i) Odessa-Ector Power Partners, LP, a Delaware limited partnership, has its registered office at 1209 Orange Street, Wilmington, Delaware 19801 and owns a power generating facility in Odessa, Texas, which is an EWG. 1.3.B.2.(t)(v)(C)(ii)(f)(ii) Odessa-Ector Power Partners Services, LP, a Delaware limited partnership, has its registered office at 1209 Orange Street, Wilmington, Delaware 19801 and was formed for the purpose of investing in power generating facilities in Odessa, Texas. 1.3.B.2.(t)(v)(C)(ii)(g) Texas Independent Energy Operating Company, LLC (TIE), a Delaware limited liability company, has its registered office at 1209 Orange Street, Wilmington, Delaware 19801, and was formed to own and operate the eligible power generating facility owned by Odessa-Ector Power Partners, L.P., a Delaware limited liability company, and the sole limited partner is Odessa-Ector Power II, LLC, a Delaware limited liability company. EWG status was granted to TIE on April 11, 2000. 1.3.B.2.(t)(v)(D) Andina Mendoza Company (AMCO), a Cayman Islands company, has its registered office at Ugland House, South Church Street, George Town, Grand Cayman, Cayman Islands, British West Indies, and was formed for the purpose of investing in Latin America. 1.3.B.2.(t)(v)(E) PSEG Global Funding II LLC, a Delaware limited liability company, has its registered office at 1209 Orange Street, Wilmington, Delaware 19801 and directly owns PSEG Global Funding Corp. (PSEG GFC). 1.3.B.2.(t)(v)(E)(i) PSEG GFC, a Delaware company, has its registered office at 1209 Orange Street, Wilmington, Delaware 19801 and wholly owns PSEG Global Funding III Company (PSEG GFCIII). In addition, PSEG GFC has an 80% interest in Asociacion o Cuentas en Participacion (ACP). 1.3.B.2.(t)(v)(E)(i)(a) PSEG GFCIII, a Cayman Islands company, has its registered office at Ugland House, South Church Street, George Town, Grand Cayman, Cayman Islands, British West Indies, has two subsidiaries as follows: 1.3.B.2.(t)(v)(E)(i)(a)(i) ACP, is simply a contractual obligation which is considered a non-entity according to Chilean law, but is treated as an entity for U.S. tax purposes and was formed in accordance with Chilean tax laws. It has the following subsidiaries: 1.3.B.2.(t)(v)(E)(i)(a)(i)(a) PSEG Finance Company (PSEGFC), a Cayman Islands company, has its registered office at Ugland House, South Church Street, George Town, Grand Cayman, Cayman 18 Islands, British West Indies and was formed for tax reasons under Chilean tax law. PSEGFC is wholly owned by ACP. 1.3.B.2.(t)(v)(E)(i)(a)(i)(b) PSEG Peru SRL, a Peruvian limited liability company, has its registered office at Victor Andres Belaunde 147, Via Principal 155, Edificio Centro Empresarial Camino Real, Oficina 1201, San Isidro, Peru and is 99.99% owned by ACP and .01% owned by PSEGFC. 1.3.B.2.(t)(v)(F) PSEG Global Management Inc., formerly Mendoza Energia, Inc., a Delaware corporation, has its registered office at 1209 Orange Street, Wilmington, Delaware 19801, was formed for the purpose of providing energy-related services. 1.3.B.2.(t)(v)(G) Sempra Energy International Chile Holdings I B.V., a Netherlands company, has its principal executive offices at Weena 340, Rotterdam, The Netherlands 3012NJ, and was formed for the purpose of investing in Latin America. 1.3.B.2(t)(v)(H) PSEG Energy Co., formerly Cuyana, Inc., a Delaware corporation, has its registered office at 1209 Orange Street, Wilmington, Delaware 19801, and was formed for the purpose of investing in projects in North America. 1.3.B.2.(t)(vi) PSEG China Holdings Ltd., formerly PSEG Gongyi Power Ltd., (China Holdings), a Bermuda limited liability company, has its principal offices at Clarendon House, 2 Church Street, Hamilton, Bermuda and has the following wholly-owned subsidiaries : 1.3.B.2.(t)(vi)(A) Pinyi Power Ltd., a Mauritius company, has its registered office at 608 St. James Court, St. Denis Street, Port Louis, Mauritius, and was formed for the purpose of investing in power facilities in China. 1.3.B.2.(t)(vi)(B) PSEG Asia I Ltd., a Mauritius company, has its registered office at 608 St. James Court, St. Denis Street, Port Louis, Mauritius, and was formed for the purpose of investing in power facilities in China. 1.3.B.2.(t)(vi)(C) PSEG Asia II Ltd., a Mauritius company, has its registered office at 608 St. James Court, St. Denis Street, Port Louis, Mauritius, and was formed for the purpose of investing in power facilities in China. 1.3.B.2.(t)(vi)(D) PSEG Wuxue Cogeneration Ltd., (formerly PSEG Asia III Ltd.), a Mauritius company, has its registered office at 608 St. James Court, St. Denis Street, Port Louis, Mauritius, and was formed for the purpose of investing in power facilities in China. 1.3.B.2.(t)(vi)(E) PSEG Doulinzi Hydropower Ltd., (formerly PSEG Asia IV Ltd.), a Mauritius company, has its registered office at 608 St. James Court, St. Denis Street, Port Louis, Mauritius, and was formed for the purpose of investing in power facilities in China. 1.3.B.2.(t)(vi)(F) PSEG Haian Power Co. Ltd. (formerly PSEG Asia V Ltd.), a Mauritius company, has its registered office at 608 St. James Court, St. Denis Street, Port Louis, Mauritius, and was formed for the purpose of investing in power facilities in China. 19 1.3.B.2.(t)(vi)(G) PSEG Philippines Power LLC, a Delaware limited liability company, has its registered office at 1209 Orange Street, Wilmington, Delaware 19801, and is presently inactive. 1.3.B.2.(t)(vi)(H) PSEG Xuzhou Cogeneration Ltd., a Mauritius company, has its registered office at 608 St. James Court, St. Denis Street, Port Louis, Mauritius, and was formed for the purpose of investing in power facilities in China. 1.3.B.2.(t)(vi)(I) PSEG Zhuzhou Cogen Power Ltd., a Mauritius company, has its registered office at 608 St. James Court, St. Denis Street, Port Louis, Mauritius, and was formed for the purpose of investing in power facilities in China. 1.3.B.2.(t)(vii) PSEG Philippines Holdings LLC, a Delaware limited liability company, has its registered office at 1209 Orange Street, Wilmington, Delaware 19801, has one direct 27.8% owned subsidiary and four indirect partially owned subsidiaries as described below: 1.3.B.2.(t)(vii)(A) Magellan Capital Holdings Corporation (MCHC), a Philippine company, has its offices at 4/F Ortigas Bldg., Ortigas Avenue, Pasig City, Philippines, was formed for the purpose of investing in power facilities in the Philippines which are expected to qualify upon completion as EWGs and has the following direct and indirect wholly and partially owned subsidiaries: 1.3.B.2.(t)(vii)(A)(i) Magellan Utilities Development Corporation (MUDC), a Philippines company, has its offices at 4/F Ortigas Bldg., Ortigas Avenue, Pasig City, Philippines, and was formed for the purpose of investing in a power facility in the Philippines which is expected upon completion to qualify as an EWG. MUDC is 60% owned by MCHC. 1.3.B.2.(t)(vii)(A)(i)(a) Pinammoran Power Corporation (PPC), a Philippines company, has its offices at 4/F Ortigas Bldg., Ortigas Avenue, Pasig City, Philippines and is presently inactive. PPC is 99.8% owned by MUDC. 1.3.B.2.(t)(vii)(A)(i)(b) Batangas Agro-Industrial Development Corporation (BAID), a Philippines company, has its offices at 4/F Ortigas Bldg., Ortigas Avenue, Pasig City, Philippines and owns certain real property that is the site of the EWG to be constructed by MUDC. BAID is 100% owned by MCHC. 1.3.B.2.(t)(vii)(A)(i)(c) Pinamucan Industrial Estates, Inc. (PIE), a Philippines company, has its offices at 4/F Ortigas Bldg., Ortigas Avenue, Pasig City, Philippines, and is presently inactive. PIE is 99.9% owned by MCHC. 1.3.B.2.(t)(viii) PSEG Full Moon Ltd., a Mauritius company, has its registered office at 608 St. James Court, St. Denis Street, Port Louis, Mauritius, and was formed for the purpose of investing in power facilities in Indonesia. 1.3.B.2.(t)(ix) PSEG Pontianak Ltd., a Mauritius company, has its registered office at 608 St. James Court, St. Denis Street, Port Louis, Mauritius, and was formed for the purpose of investing in power facilities in Indonesia. 20 1.3.B.2.(t)(x) PSEG Pontianak (L) Ltd., a Malaysian company, has its offices at Level 10, Wisma Oceanic, Jalan O.K.K. Awang Besar, 87007 Labuan F.T., Malaysia, and has one direct 93.75% owned subsidiary as described below: 1.3.B.2.(t)(x)(A) PT Pontianak Power, an Indonesian company, has its principal executive offices at JI. Dr. Saharjo 52 Jakarta, 12970 Indonesia, and was formed for the purpose of investing in power facilities in Pontianak, Indonesia. 1.3.B.2.(t)(xi) PSEG Zhou Kou Power Ltd., a Bermuda limited liability company, has its principal executive offices at Clarendon House, 2 Church Street, Hamilton, Bermuda, and has one direct wholly-owned subsidiary as described below: 1.3.B.2.(t)(xi)(A) PSEG Zhou Kou Power Company Ltd., a Mauritius company, has its registered office at 608 St. James Court, St. Denis Street, Port Louis, Mauritius, and was formed for the purpose of investing in power facilities in Zhou Kou, China which are expected to qualify upon completion as an EWG. 1.3.B.2.(t)(xii) PSEG Europe Ltd., (formerly PSEG Global Ltd.), a United Kingdom company, has its principal executive offices at Millbank Tower, 30th Floor, 21-24 Millbank, London SW1P 4QP, England, and was formed for the purpose of managing development activities in Europe and the Middle East. PSEG Europe Ltd. has the following wholly-owned subsidiaries described below: 1.3.B.2.(t)(xii)(A) PSEG Plan Ltd. (formerly Opalshore Limited), a United Kingdom company, has its principal executive offices at Millbank Tower, 30th Floor, 21-24 Millbank, London SW1P 4QP, England, and was formed for the purpose of serving PSEG Europe Ltd. as Trustee for its benefits plan and is currently inactive. 1.3.B.2.(t)(xii)(B) PSEG Technical Services Ltd., a United Kingdom company, has its principal executive offices at Millbank Tower, 30th Floor, 21-24 Millbank, London SW1P 4QP, England, was formed for the purpose of providing technical services to power facilities in Poland. 1.3.B.2.(t)(xii)(C) PSEG Offshore Operations Ltd., formerly PSEG Operations Ltd., a United Kingdom company, has its principal executive offices at Millbank Tower, 30th Floor, 21-24 Millbank, London SW1P 4QP, England, was formed for the purpose of providing construction, management, operation and maintenance services offshore to Carthage Power Company Sarl. 1.3.B.2.(t)(xii)(D) PSEG Operations (Tunisia) Ltd., a United Kingdom company, has its principal executive offices at Millbank Tower, 30th Floor, 21-24 Millbank, London SW1P 4QP, England, was formed for the purpose of investing in power facilities in Europe and the Middle East. 1.3.B.2.(t)(xiii) (E) PSEG Operaciones I Company (PSEG Operaciones I), formerly PSEG Elecrica and Turbogeneradores de Cagua Company., a Cayman Islands company, has its registered office at Ugland House, P.O. Box 309, George Town, Grand Cayman, Cayman Islands, British West Indies and was formed for the purpose of making investments in South America. 21 1.3.B.2.(t)(ivx) PSEG Operaciones II Company (PSEG Operaciones II), formerly Peru Power LTD., a Cayman Islands company, has its registered office at Ugland House, P.O. Box 309, George Town, Grand Cayman, Cayman Islands, British West Indies and was formed for the purpose of making investments in South America. 1.3.B.2.(t)(ivx)(i) Asociacion o Cuentas en Participacion II, a Chilean contractual obligation treated as an entity for U.S. tax purposes, is owned 80% by PSEG Operaciones II and 20% by PSEG Operaciones I and was formed for the purpose of making investments in South America. 1.3.B.2.(t)(ivx)(i)(a) PSEG Cuenta Finance Company, formerly Andina Mendoza I Company, a Cayman Islands company, has its registered office at Ugland House, P.O. Box 309, George Town, Grand Cayman, Cayman Islands, British West Indies and was formed for the purpose of making investments in South America. 1.3.B.2.(t)(ivx)(i)(b) PSEG Genaracione y Energia Chile Limitada, a Chilean Company, was formed for the purpose of making investments in Latin America. 1.3.B.2 (u) PSEG Chilquinta Finance LLC (Chilquinta Finance), a Delaware limited liability company, has its registered office at 1209 Orange Street, Wilmington, Delaware 19801, and was formed for the purpose of operating and investing in various projects in Latin America. Chilquinta Finance has the following 50% owned subsidiary: 1.3.B.2 (u)(i) Chilquinta Energia Finance Co. LLC (Energia Finance), a Delaware limited liability company, has its registered office in Delaware, and was formed for the purpose of operating and investing in various projects in Latin America. 1.3.B.2.(v) PSEG Polska Sp. z o.o. (Polska), a Polish company, has its registered office at ul. Emilii Plater #53, Warsaw, Poland 00-113, and was formed for the purpose of investing in Poland 1.3.B.2.(w) North Bay Power LLC, a Delaware company , a Delaware limited liability company, has its registered office at 1209 Orange Street, Wilmington, Delaware 19801, and was formed for the purpose of investing in North America. 1.3.B.2.(x) PSEG California Corp., a Delaware corporation, has its registered office at 1209 Orange Street, Wilmington, Delaware 19801, and was formed for the purpose of investing in North America and has the following 50% owned subsidiary: 1.3.B.2.(x)(i) GWF Energy LLC, a Delaware company a Delaware limited liability company, has its registered office at 1209 Orange Street, Wilmington, Delaware 19801, and was formed for the purpose of investing in three natural gas-fired peaker facilities in California, one of which is operating and is an EWG. 1.3.B.2.(y) PSEG California II Corp., formerly Andina Electrica, Inc., a Delaware corporation, has its registered office at 1209 Orange Street, Wilmington, Delaware 19801, and was formed for the purpose of investing in North America. 22 1.3.B.2.(z) PSEG California III Corp., formerly Andian Mendoza Partners LP, a Delaware corporation, has its registered office at 1209 Orange Street, Wilmington, Delaware 19801, and was formed for the purpose of investing in North America. 1.3.B.2.(aa) PSEG Tracy Turbine Inc., formerly PSEG Peru Inc., a Delaware corporation, has its registered office at 1209 Orange Street, Wilmington, Delaware 19801, and is presently inactive. 1.3.B.3. PSEG Global Holding Company (formerly PSEG Americas Holdings Company), a Cayman Islands company, has its registered office at Ugland House, P.O. Box 309, George Town, Grand Cayman, Cayman Islands, British West Indies and was formed for the purpose of making investments in South America. 1.3.B.3.(a) PSEG Europe (Delaware) LLC, formerly PSEG Europe (Delaware) Inc. and PSEG Elcho (Delaware) Inc. (PED LLC), a Delaware limited liability company, has its registered office at 1209 Orange Street, Wilmington, Delaware 19801, and has the following direct and indirect wholly and partially owned subsidiaries: 1.3.B.3.(a)(i) PSEG Europe B.V. (PSEG Europe), a Netherlands company, has its principal executive offices at Weena 340, 3012 NJ Rotterdam, The Netherlands. PSEG Europe is a direct wholly owned subsidiary of PEDLLC and has the following direct wholly-owned subsidiaries, 99% owned subsidiaries, and indirect subsidiaries: 1.3.B.3.(a)(i)(A) PSEG Investments B.V., a Netherlands company, has its principal executive offices at Weena 340, 3012NJ Rotterdam, The Netherlands, and was formed for the purpose of investing in power facilities in Turkey. PSEG Investments B.V. is owned 99% by PSEG Europe and 1% by PEDLLC. 1.3.B.3.(a)(i)(A)(i) Konya Ilgin Elektrik Uretim ve Ticaret Limited Sirketi (Konya), a Turkish company, has its registered address at Piyade Sk. 18 C Blok Flat No. 8, Cankaya, Akara, Turkey. Konya is owned 99% by PSEG Investments B.V. and 1% by PSEG Turkey B.V. and was formed for the purpose of investing in Turkey. 1.3.B.3.(a)(i)(B) PSEG Roma B.V., formerly PSEG Poland B.V., a Netherlands company, has its principal executive offices at Weena 340, 3012NJ Rotterdam, The Netherlands, and is currently inactive. PSEG Roma B.V. is wholly-owned by PSEG Europe. 1.3.B.3 (a)(i)(C) PSEG Silesia B.V., a Netherlands company, has its principal executive offices at Weena 340, 3012NJ Rotterdam, The Netherlands, and has one wholly owned subsidiary and one indirect 55.34% owned subsidiary as follows: 23 1.3.B.3 (a)(i)(C)(i) PSEG Chorzow B.V., a Netherlands company, has its principal executive offices at Weena 340, 3012NJ Rotterdam, The Netherlands, and has a 55.34% interest in Elektrocieplownia Chorzow Elcho Sp. z.o.o. (Chorzow). 1.3.B.3.(a)(i)(C)(i)(a) Elektrocieplownia Chorzow Elcho Sp. z o.o., a Polish company, has its principal executive offices at ul. Kosciuszki 6, 41-500 Chorzow, Poland, and is developing a coal-fired power station in Chorzow, Poland, which is expected to qualify upon completion as an EWG. 1.3.B.3 (a)(i)(D) PSEG Spain B.V., a Netherlands company, has its principal executive offices at Weena 340, 3012NJ Rotterdam, The Netherlands, has one wholly-owned subsidiary and is currently inactive. 1.3.B.3 (a)(i)(D)(i) PSEG Guadalcacin B.V., a Netherlands company, has its principal executive offices at Weena 340, 3012NJ Rotterdam, The Netherlands, and is currently inactive. 1.3.B.3.(a)(i)(E) PSEG Turkey B.V., formerly Konya Ilgin Electric Production B.V., a Netherlands company, has its principal executive offices at Weena 340, 3012NJ Rotterdam, The Netherlands, and was formed for the purpose of investing in power facilities in Turkey. PSEG Turkey B.V. is owned 99% by PSEG Europe and 1% by PEDLLC. 1.3.B.3.(a)(i)(F) PSEG Italia B.V. (formerly Ramat Hovav, B.V.), a Netherlands company, has its principal executive offices at Weena 340, 3012NJ Rotterdam, The Netherlands and was formed for the purpose of investing in power facilities in Italy. PSEG Italia B.V. owns a 51.02% interest in Prisma 2000 S.p.A. (Prisma) and an indirect interest in the following subsidiaries of Prisma. 1.3.B.3.(a)(i)(F)(i) Prisma, an Italian company, has its registered office at Via G. de Castro, 4-20144 Milan, Italy and was formed for the purpose of construction, operation and maintenance of, and investing in, power projects in Italy. Prisma has the following direct wholly owned and partially owned subsidiaries: 1.3.B.3 (a)(i)(F)(i)(a) Cellulosa Calabra S.p.A., an Italian company, has its registered office at Strada Statale 106, Zona Industriale 88900 Crotone, Italy and was formed for the purpose of investing in power facilities in Italy. 1.3.B.3 (a)(i)(F)(i)(b) Energ S.p.A., an Italian company, has its registered office at Via Toledo (Piazzetta Duca d'Aosta) 265-80100 Napoli, Italy and was formed for the purpose of investing in power facilities in Italy, is wholly owned by Prisma. 1.3.B.3 (a)(i)(F)(i)(c) San Marco Bioenergie S.p.A., an Italian company, has its registered office at Via G. de Castro, 4-20144 Milan, Italy and was formed for the purpose of investing in power facilities in Italy, is wholly owned by Prisma. 1.3.B.3 (a)(i)(F)(i)(d) Idrogest S.p.A., an Italian company, has its registered office at Via Piemonte 117, Roma, Italy and is currently inactive. 24 1.3.B.3 (a)(i)(F)(i)(e) Elettrica Centro Nord Srl, an Italian company, has its registered office at Corso Nizza 10 (Int 5), 12100 Cuneo, Italy and is currently inactive. 1.3.B.3 (a)(i)(F)(i)(f) Sicob Energia Srl, an Italian company, has its registered office at Castel San Giorgio, Localita Zona Industriale, 84083, Salerno, Italy and is currently inactive 1.3.B.3 (a)(i)(F)(i)(g) Ecogen S.p.A., an Italian company, has its registered address at Strada Cipata 118, 46100, Mantova, Italy, is owned 0.005% by Prisma and is currently inactive. 1.3.B.3 (a)(i)(F)(i)(h) Biomass Italia S.p.A., an Italian company, has its registered office at Strada Statale 106, Zona Industriale, 88900-Crotone, Italy and was formed for the purpose of investing in power facilities in Italy. Prisma, owns a 50% interest in Biomass Italia S.p.A. 1.3.B.3 (a)(i)(F)(i)(h)(i) P.A. Energy Srl, an Italian company, has its registered office at Viale Citta d'Europa 681, Roma, Italy and is currently inactive. 1.3.B.3 (a)(i)(F)(i)(h)(ii) Barzellotti Lemerangi Bioenergia Srl, an Italian company, has its registered office at Corso Cavour 9, 06034 Foligno (PG), Perugia Italy and is currently inactive. 1.3.B.3 (a)(i)(F)(i)(h)(iii) La Montagnola Leopardi Srl, an Italian company, has its registered office at Corso Cavour 9, 06034 Foligno (PG), Perugia, Italy and is currently inactive. 1.3.B.3 (a)(i)(F)(i)(h)(iv) Pontedera Energia S.p.A., an Italian company, has its registered office at Via Carducci 8, Empoli (FI), Firenze, Italy and is currently inactive. 1.3.B.3 (a)(i)(G) PSEG Poland Distribution B.V., a Netherlands company, has its principal executive offices at Weena 340, Rotterdam, The Netherlands 3012NJ, and was formed for the purpose of investing in power facilities in Poland. 1.3.B.3.(a)(i)(H) PSEG Europe I B.V. a Netherlands company, has its principal executive offices at Weena 340, 3012NJ Rotterdam, The Netherlands, and was formed for investment purposes. 1.3.B.3.(a)(i)(I) PSEG Europe II B.V. a Netherlands company, has its principal executive offices at Weena 340, 3012NJ Rotterdam, The Netherlands, and was formed for investment purposes. 1.3.B.3.(a)(i)(J) PSEG Europe III B.V. a Netherlands company, has its principal executive offices at Weena 340, 3012NJ Rotterdam, The Netherlands, and was formed for investment purposes. 1.3.B.3.(a)(i)(K) PSEG Europe IV B.V. a Netherlands company, has its principal executive offices at Weena 340, 3012NJ Rotterdam, The Netherlands, and was formed for investment purposes. 1.3.B.3.(a)(i)(L) PSEG Europe V B.V. a Netherlands company, has its principal executive offices at Weena 340, 3012NJ Rotterdam, The Netherlands, and was formed for investment purposes. 25 1.3.B.3 (b) PSEG Global International Holdings LLC, a Delaware limited liability company, has its registered office at 1209 Orange Street, Wilmington, Delaware 19801 and was formed for the purpose of serving as a holding company for various international investments. This company is wholly-owned by PSEG Global Holding Company. 1.3.B.3.(b)(i) PSEG Americas Ltd., a Bermuda limited liability company, has its principal executive offices at Clarendon House, 2 Church Street, Hamilton, Bermuda. PSEG Americas Ltd. has the following direct and indirect wholly and partially owned subsidiaries as described below. 1.3.B.3.(b)(i)(B) PSEG Chile Holding S.A.(PSEGCH), a Chilean company, has its registered address in Chile and was formed for the purpose of investing in Latin America. PSEGCH is 99.99% owned by PSEG Americas Ltd. and 0.01% owned by PSEG Chilean Equity II Ltd. 1.3.B.3.(b)(i)(B)(i) Inversiones PSEG Chile I Limitada (IPCIL), a Chilean company, has its registered office in Santiago, Chile and was formed for the purpose of investing in Latin America. IPCIL is 99.99% owned by PSEGCH Ltd. and 0.01% by PSEG Chilean Equity II Ltd. 1.3.B.3.(b)(i)(B)(i)(a)(i) Sociedad Austral de Electricidad S.A. (Saesa), a Chilean Company, has its registered office in Chile and was formed for the purpose of investing in Latin America. Saesa has six direct and indirect, partially and wholly owned subsidiaries described below. 1.3.B.3.(b)(i)(B)(i)(a)(i)(a) Empresa de Energia Rio Negro S.A. (Edersa), an Argentine company, has its registered office in Argentina and was formed for the purpose of investing in Latin America. Edersa is 50% owned by Saesa. 1.3.B.3.(b)(i)(B)(i)(a)(i)(b) Empresa Electrica de la Frontera S.A. (Frontel), a Chilean Company, has its registered office in Chile and was formed for the purpose of investing in Latin America. Frontel is 82.93% owned by Saesa and has four direct and indirect partially owned subsidiaries. 1.3.B.3.(b)(i)(B)(i)(a)(i)(b)(i) Empresa Electrica de Aisen S.A. (Edelaysen), a Chilean Company, has its registered office in Chile and was formed for the purpose of investing in Latin America. Edelaysen is 91.66% owned by Frontel, above. 1.3.B.3.(b)(i)(B)(i)(a)(i)(b)(ii) Compania Electrica Osorno S.A. (Creo), a Chilean Company, has its registered office in Chile and was formed for the purpose of investing in Latin America. Creo is .10% owned by Frontel and 99.90% owned by Saesa. 1.3.B.3.(b)(i)(B)(i)(a)(i)(b)(iii) Sistema de Transmision del Sur S.A. (STS), a Chilean Company, has its registered office in Chile and was formed for the purpose of investing in Latin America. STS is .10% owned by Frontel and 99.90% owned by Saesa. STS has one 8.33% owned subsidiary, below. 1.3.B.3.(b)(i)(B)(i)(a)(i)(b)(iii)(a) Centro de Despacho Economico de Carga del Sistema Electrico Interconectado Central CDEC-SIC Limitada (CDEC-SIC), a Chilean Company, has its registered office in Chile and was formed for the purpose of investing in Latin America. CDEC-SIC is 8.33% owned by STS. 26 1.3.B.3.(b)(i)(B)(i)(a)(ii) Sociedad Austral de Electricidad II S.A. (SaesaII), a Chilean Company, has its registered office in Chile and was formed for the purpose of investing in Latin America. 1.3.B.3.(b)(i)(C) PSEGAOC, a Cayman Island company, has its registered office at Ugland House, South Church Street, George Town, Grand Cayman, Cayman Islands, British West Indies, and owns a 99.99% interest in PSEG Operating Argentina S.A.(PSEG OA). The remaining 0.01% interest is owned by CEMAS Corporation (described above). PSEGAOC is a directly 90% owned subsidiary of PSEG Americas Ltd. PSEG Americas Inc. holds an additional 0.01% interest in this company. 1.3.B.3.(b)(i)(C)(i) PSEG OA, an Argentine company, has its registered office at Marcelo T. de Alvear 684, Piso 2, Buenos Aires, Argentina, and has two 33.34% owned subsidiaries: 1.3.B.3.(b)(i)(C)(ii) Empresa Distribuidora de Energia Norte S.A., an Argentine company, has its principal executive offices at Calle 48, numero 786, La Plata, Argentina and owns a distribution facility in the province of Buenos Aires, Argentina, and is a FUCO. 1.3.B.3.(b)(i)(C)(iii) Empresa Distribuidora de Energia Sur S.A., an Argentine company, has its principal executive offices at Calle 48, numero 786, La Plata, Argentina and owns a distribution facility in the province of Buenos Aires, Argentina, and is a FUCO. 1.3.B.3.(b)(i)(D) Compania de Inversiones en Energia Electrica S.A. (CIEESA), an Argentine company, has its registered offices in Buenos Aires, Argentina and was formed for the purpose of investing in power facilities in Latin America. CIEESA is 49% directly owned by PSEG Americas Ltd. 1.3.B.3.(b)(i)(E) Inversora en Distribucion de Entre Rios S.A. (Inverder), an Argentine company, has its registered offices in Buenos Aires, Argentina and was formed for the purpose of investing in power facilities in Latin America. Inverder is 53.5% owned by CIEESA and 19% owned by PSEG Americas Ltd. 1.3.B.3.(b)(i)(E)(i) Empresa Distribuidora De Electricidad De Entre Rios S.A. (EDEERSA), an Argentine corporation, has its registered offices in Buenos Aires, Argentina and was formed for the purpose of distributing and transmitting electric power to the province of Entre Rios, Argentina. EDEERSA is 90% directly owned by Inverder. 1.3.B.3.(b)(i)(F) PSEG Brasil Ltda., a Brazilian company, has its registered office at Rua Luigi Galvani 200, 8(degree)Andar Conjunto 81, Sao Paulo, CEP04575-020, Brazil, and provides management and business development services. PSEG Brasil Ltda. is 99.9% directly owned by PSEG Americas Ltd. (described above) and 0.1% directly owned by IPE Energia S.A. (IPE) (described below). 1.3.B.3.(b)(i)(G) PSEG Brazil II Company, a Cayman Islands company, has its registered office at Ugland House, South Church Street, George Town, Grand Cayman, Cayman Islands, British West Indies and has one 50% owned subsidiary. 27 1.3.B.3.(b)(i)(G)(i) PSEG Trader S.A. (PSEGTSA), formerly Terra Roxa Participacoes S.A., a Brazilian company, has its registered office at Rua Luigi Galvani 200, 8(degree) Andar, Conjunto 81, Sala A Sao Paulo, CEP04575-020, Brazil and is currently inactive. PSEG Brazil III Company owns the remaining 50% interest in PSEGTSA. 1.3.B.3.(b)(i)(H) PSEG Brazil III Company, a Cayman Islands company, has its registered office at Ugland House, South Church Street, George Town, Grand Cayman, Cayman Islands, British West Indies and has one 50% owned subsidiary, (PSEGTSA) (described above) which is also 50% owned by PSEG Brazil II Company (described above). 1.3.B.3.(b)(i)(I) PSEG Brazil Investment Company, a Cayman Islands company, has its registered office at Ugland House, South Church Street, George Town, Grand Cayman, Cayman Islands, British West Indies, and was formed for the purpose of indirectly acquiring privatized assets in Brazil. PSEG Brazil Investment Company has the following direct and indirect wholly and partially owned subsidiaries: 1.3.B.3.(b)(i)(I)(i) Pampa Energia Ltda., a Cayman Islands company, has its registered office at Ugland House, South Church Street, George Town, Grand Cayman, Cayman Islands, British West Indies, and was formed for the purpose of indirectly acquiring privatized assets in Brazil. Pampa Energia Ltda. has the following direct and indirect wholly and partially owned subsidiaries: 1.3.B.3.(b)(i)(I)(i)(a) PSEG Brazil Company, a Cayman Islands company, has its registered office at Ugland House, South Church Street, George Town, Grand Cayman, Cayman Islands, British West Indies, and was formed for the purpose of indirectly acquiring an interest in Rio Grande Energia, S.A. (RGE), formerly Companhia Norte-Nordeste de Distribuicao de Energia Eletrica, a Brazilian electrical distribution company located in the State of Rio Grande do Sul and currently owns a 50% interest in PSEG Participacoes S.A. and IPE. The remaining 50% interest in each company is owned by PSEG Brazil I Company. 1.3.B.3.(b)(i)(I)(i)(a)(i) PSEG Participacoes S.A., a Brazilian company, has its registered office at Rua Luigi Galvani 200, 8(degree) Andar, Conjunto 81, Sala B Sao Paulo, CEP04575-020, Brazil and is presently inactive. PSEG Participacoes has a 0.3% interest in Sul Geradora S.A. (described below). 1.3.B.3.(b)(i)(I)(i)(a)(ii) IPE Energia S.A., (IPE) a Brazilian company, has its registered office at Rua Luigi Galvani 200, 8(degree) Andar Conjunto 81, Sala B Sao Paulo, CEP04575-020, Brazil, and owns a 32.62% interest in RGE. IPE also owns 0.01% of PSEG Brazil Ltda. 1.3.B.3.(b)(i)(I)(i)(a)(ii)(A) RGE, a Brazilian company, has its registered office at Rua da Consolaco #247, 8th Floor, Room 12, Sao Paulo, Brazil 01301903, is 32.62% owned by IPE, and is a FUCO. RGE holds 99.7% interest in Sul Geradora Participacoes S.A., described below: 1.3.B.3.(b)(i)(I)(i)(a)(ii)(A)(i) Sul Geradora Participacoes S.A. (Sul), a Brazilian company, has its registered office at Av. Eng. Luiz Carlos Berrini, 1297-13 anadar parte, CEP 04571-010, Sao Paulo, 28 Brazil and was formed for the purpose of participation in importation, exportation and commerce of agricultural products. 1.3.B.3.(b)(i)(I)(ii) PSEG Brazil I Company, a Cayman Islands company, has its registered office at Ugland House, South Church Street, George Town, Grand Cayman, Cayman Islands, British West Indies, and was formed for the purpose of acquiring an indirect ownership interest in RGE and currently owns a 50% interest in PSEG Participacoes S.A. and a 50% interest in IPE. The remaining 50% interest in each company is owned by PSEG Brazil Company, (described above), and a 99.91% interest in Conversora de Fertilizante e Energia do Parana Ltda. (COFEPAR). The remaining 0.09% ownership interest in COFEPAR is held by PSEG Brazil Company. 1.3.B.3.(b)(i)(I)(i)(a)(iii) COFEPAR (formerly CEA Brasil Operacoes Ltda.), a Brazilian company, has its registered office at Rua Luigi Galvani 200, 8(degree) Andar Conjunto 81, Sala C Sao Paulo, CEP04575-020, Brazil, and is developing a cogeneration facility in Brazil which is expected to qualify upon completion as an EWG. PSEG Brasil I Company presently owns a direct 99.9% interest in Conversora de Fertilizante e Energia do Parana Ltda., and PSEG Brazil Company directly owns the remaining 0.1%. 1.3.B.3.(b)(i)(J) PSEG Brazil Operating Company, a Cayman Islands company, has its registered office at Ugland House, South Church Street, George Town, Grand Cayman, Cayman Islands, British West Indies, and is presently inactive. 1.3.B.3 (b)(i)(K) PSEG (Bermuda) Holdings III Ltd., a Bermuda limited liability company, has its principal executive offices at Clarendon House, 2 Church Street, Hamilton, Bermuda and was formed for the purpose of investing in India. It has one direct wholly-owned subsidiary and ten indirect subsidiaries as described below. 1.3.B.3.(b)(i)(K)(i) PSEG India Ltd., a Mauritius company, has its registered office at 608 St. James Court, St. Denis Street, Port Louis, Mauritius, and owns the following direct wholly-owned and indirect partially-owned subsidiaries: 1.3.B.3.(b)(i)(K)(i)(a) PSEG Ambalamugal Energy Company Ltd. (Ambalamugal), a Mauritius company, has its registered office at 608 St. James Court, St. Denis Street, Port Louis, Mauritius, and was formed for the purpose of investing in power facilities in India. 1.3.B.3.(b)(i)(K)(i)(b) PSEG Cochin Energy Company Ltd., a Mauritius company, has its registered office at 608 St. James Court, St. Denis Street, Port Louis, Mauritius, and was formed for the purpose of investing in power facilities in India. 1.3.B.3.(b)(i)(K)(i)(c) PSEG Kakinada Energy Company Ltd., a Mauritius company, has its registered office at 608 St. James Court, St. Denis Street, Port Louis, Mauritius, and was formed for the purpose of investing in power facilities in India. 1.3.B.3.(b)(i)(K)(i)(d) PSEG North Chennai Ltd. (formerly PSEG North Madras Ltd.), a Mauritius company, has its registered office at 608 St. James Court, St. Denis Street, Port Louis, Mauritius, and was formed for the purpose of investing in power facilities in India. PSEG North Chennai Ltd. 29 has a 26% interest in Tri-Sakthi Investments Limited (TSIL) and a 50% interest in Tri-Sakthi Energy Private Limited (TSEPL). 1.3.B.3.(b)(i)(K)(i)(d)(i) TSIL, a Mauritius company, has its registered office at 608 St. James Court, St. Denis Street, Port Louis, Mauritius and has a 50% interest in TSEPL. 1.3.B.3.(b)(i)(K)(i)(d)(i)(a) TSEPL, an Indian company, has its registered office at No. 7 "Mamatha Complex", II Floor, 13 Whites Road, Chennai, India 600014 and was formed for future investments in India. 1.3.B.3.(b)(i)(K)(i)(e) PSEG Yamunanagar Energy Company Ltd., a Mauritius company, has its registered office at 608 St. James Court, St. Denis Street, Port Louis, Mauritius, and was formed for the purpose of investing in power facilities in India. 1.3.B.3.(b)(i)(K)(i)(f) PSEG Tanir Bavi Energy Company Ltd., formerly Sundawn Mauritius Ltd., a Mauritius company, has its registered office at 608 St. James Court, St. Denis Street, Port Louis, Mauritius, and owns a 49% interest in Tanir Bavi Power Company Private Limited. 1.3.B.3.(b)(i)(K)(i)(g) Alterio Mauritius Co. Ltd. (Altero), a Mauritius company, has its principal offices in Mauritius and owns a 40.99% interest in Tanir Bavi Power Company Private Limited. Alterio is 61% owned by PSEG India Ltd. 1.3.B.3.(b)(i)(K)(i)(g)(i) Tanir Bavi Power Company Private Limited, an Indian company, has its principal offices in India and is a power generating facility which has recently applied for EWG status. 1.3.B.3.(b)(i)(L) PSEG Cayman Americas Company, a Cayman Islands company, has its registered office at Ugland House, South Church Street, George Town, Grand Cayman, Cayman Islands, British West Indies, and has the following wholly-owned and partially-owned direct and indirect subsidiaries as described below: 1.3.B.3.(b)(i)(L)(i) PSEG Cayman Americas V Company, a Cayman Islands company, has its registered office at Ugland House, South Church Street, George Town, Grand Cayman, Cayman Islands, British West Indies, and has five partially-owned subsidiaries as described below: 1.3.B.3.(b)(i)(L)(i)(a) AES Parana Operations SRL, an Argentine company, has its registered office in Buenos Aires, Argentina and will provide maintenance and operations services to the project being constructed by AES Parana SCA. AES Parana Operations SRL is 33.26% owned by PSEG Cayman Americas V Company. 1.3.B.3.(b)(i)(L)(i)(b) Shazia SRL, an Argentine company, has its registered office in Buenos Aires, Argentina and owns 1% of AES Parana SCA. Shazia SRL is 33.33% owned by PSEG Cayman Americas V Company. 30 1.3.B.3.(b)(i)(L)(i)(c) AES Parana SCA, an Argentine company, has its registered office in Buenos Aires, Argentina and owns a natural gas-fired electric generating facility under construction in Argentina and its FUCO approval is pending. AES Parana SCA is 33% owned by PSEG Cayman Americas V Company and 1% owned by Shazia SRL. 1.3.B.3.(b)(i)(L)(i)(d) AES Parana Gas S.A., an Argentine company, has its registered office in Buenos Aires, Argentina and provides natural gas brokerage services. AES Parana Gas S.A. is 33.33% owned by PSEG Cayman Americas V Company. 1.3.B.3.(b)(i)(L)(iii)(e) AES Parana Propiedades S.A., an Argentine company, has its registered office in Buenos Aires, Argentina and provides administration of personal and real property. AES Parana Propiedades S.A. is 33.33% owned by PSEG Cayman Americas V Company. 1.3.B.3.(b)(i)(L)(iv) PSEG Inversora S.A., an Argentine company, has its registered office at Marcelo T. de Alvear 684, Piso 2, Buenos Aires, Argentina, and was formed for the purpose of making future investments in Latin America. PSEG Cayman Americas Company (described above) owns 99.99% of PSEG Inversora S.A. PSEG Americas Ltd. owns the remaining 0.01% of PSEG Inversora S.A. 1.3.B.3.(b)(i)(M) PSEG Global Funding II Corp., a Delaware company, has its registered office at 1209 Orange Street, Wilmington, Delaware 19801 and was formed for future investments in South America. 1.3.B.3.(b)(i)(N) PSEG Luxembourg S.a.r.l., a Luxembourg company, has its registered office at 4 Rue Carlo Hemmer, Luxembourg, and was formed as a holding company for entities in various jurisdiction. 1.3.B.3.(b)(i)(O) Transamerica Energy Company, a Cayman Islands company, has its registered office at Ugland House, South Church Street, George Town, Grand Cayman, Cayman Islands, British West Indies, and was formed for the purpose of making a future investment in Panama. It has a 20% interest in Asociacion en Participacion, described below. 1.3.B.3.(b)(i)(O)(i) Asociacion en Participacion, a Peruvian contractual obligation treated as an entity for U.S. tax purposes and it held 20% by Transamerica Energy Company and 80% PSEG Americs Ltd.. AenP has two direct and one indirect subsidiaries described below. 1.3.B.3.(b)(i)(O)(i)(a) Inversiones Elegia S.R.L., a Peruvian company , has its registered address in Peru and wholly owns Empresa de Electricidad de los Andes S.A. (Electroandes). 1.3.B.3.(b)(i)(O)(i)(a)(i) Empresa de Electricidad de los Andes S.A., a Peruvian company , has its registered address in Peru and was formed for the purpose of investing in Latin America. 1.3.B.3.(b)(i)(O)(i)(b) PSEG Peru Company, a Cayman Islands company, has its registered office at Ugland House, South Church Street, George Town, Grand Cayman, Cayman Islands, British West 31 Indies and is currently inactive. PSEG Peru Company is wholly owned by Asociacion en Participacion and was formed for the purpose of investing in Latin America. 1.3.B.3.(b)(i)(P) Venergy Holdings Company, formerly Turbogeneradores de Maracay Company, a Cayman Islands company, has its registered office at Ugland House, South Church Street, George Town, Grand Cayman, Cayman Islands, British West Indies, and has the following direct and indirect partially and wholly-owned subsidiaries. 1.3.B.3.(b)(i)(P)(i) Turboven Company Inc., a Cayman Islands company, has its registered office at c/o Trident Trust Company (Cayman) Limited, Fourth Floor, One Capital Place, P. O. Box 847, Grand Cayman, Cayman Islands, British West Indies, and has four direct wholly owned subsidiaries described below. Turboven Company is a direct 50% owned subsidiary of Venergy Holdings Company. 1.3.B.3.(b)(i)(P)(ii) Turboven Cagua Company Inc., a Cayman Islands company, has its registered office at c/o Trident Trust Company (Cayman) Limited, Fourth Floor, One Capital Place, P. O. Box 847, Grand Cayman, Cayman Islands, British West Indies, is a FUCO, and was formed for the purpose of making a future investment in Latin America. 1.3.B.3.(b)(i)(P)(iii) Turboven Maracay Company Inc., a Cayman Islands company has its registered office at c/o Trident Trust Company (Cayman) Limited, Fourth Floor, One Capital Place, P. O. Box 847, Grand Cayman, Cayman Islands, British West Indies, is a FUCO, and was formed for the purpose of making a future investment in Latin America. 1.3.B.3.(b)(i)(P)(iv) Turboven Valencia Company Inc., a Cayman Islands company, has its registered office at c/o Trident Trust Company (Cayman) Limited, Fourth Floor, One Capital Place, P. O. Box 847, Grand Cayman, Cayman Islands, British West Indies, is a FUCO, and was formed for the purpose of making a future investment in Latin America. 1.3.B.3.(b)(i)(P)(v) Turboven La Victoria Company Inc., a Cayman Islands company has its registered office at c/o Trident Trust Company (Cayman) Limited, Fourth Floor, One Capital Place, P. O. Box 847, Grand Cayman, Cayman Islands, British West Indies, and was formed for the purpose of making a future investment in Latin America. 1.3.B.3.(b)(i)(Q) Rayo-Andino Gestora Company, formerly Turbogeneradores de Valencia Company, a Cayman Islands company, has its registered office at Ugland House, South Church Street, George Town, Grand Cayman, Cayman Islands, British West Indies, and has one direct 0.014% owned subsidiary described below. A 92.843% interest is owned by Rayo-Andino Inversora Company (described below). 1.3.B.3.(b)(i)(Q)(a) Promotora Termica del Cafe SCA, a Colombian company, has its registered office at Carrera 11 No. 86-60, Oficina 301 de Santafe de Bogota, Colombia, and was formed for the purpose of making future investments in Colombia. 32 1.3.B.3.(b)(i)(R) Rayo-Andino Inversora Company, a Cayman Islands company, has its registered office at Ugland House, South Church Street, George Town, Grand Cayman, Cayman Islands, British West Indies, and has one direct 92.843% owned subsidiary described above. A 0.014% interest is owned by Rayo-Andino Gestora Company, also described above. 1.3.B.3.(b)(i)(S) Wildwood I Ltd., a Cayman Islands company, has its registered office at Ugland House, South Church Street, George Town, Grand Cayman, Cayman Islands, British West Indies and is a direct wholly-owned subsidiary of PSEG Americas Ltd. 1.3.B.3.(b)(i)(T) PSEG Chilean Equity II Ltd., a Cayman Islands company, has its registered office at Ugland House, South Church Street, George Town, Grand Cayman, Cayman Islands, British West Indies, is a direct wholly-owned subsidiary of PSEG Americas Ltd., and has the following direct and indirect subsidiaries: 1.3.B.3.(b)(i)(T)(i) Tecnored S.A. (Tecnored), a Chilean company, has its principal executive offices at General Cruz No. 222, Valparaiso, Chile and is an energy-related services company. Tecnored is 50% owned by PSEG Chilean Equity II Ltd. 1.3.B.3.(b)(i)(T)(i)(a) PSEG Chilean Equity Ltd. (Chilean Equity), a Cayman Islands company, has its registered office at Ugland House, South Church Street, George Town, Grand Cayman, Cayman Islands, British West Indies and was formed for the purpose of making investments in Chile and Peru. PSEG Chilean Equity II Ltd. owns 99.9% of Chilean Equity. 1.3.B.3.(b)(i)(T)(i)(a)(i) PSEG Venezuela S.R.L., a Venezuelan company, owned 99% by Chilean Equity and 1% by PSEG Chilean Equity III Ltd., was formed for the purpose of making investments in South America. 1.3.B.3.(b)(i)(T)(i)(a)(ii) PSEG Chilean Equity III Ltd., a Cayman Islands company, has its registered office at Ugland House, South Church Street, George Town, Grand Cayman, Cayman Islands, British West Indies and was formed for the purpose of making investments in Chile. 1.3.B.3.(b)(i)(T)(i)(a)(iii) Asociacion en Participacion, a Peruvian contractual obligation treated as an entity for U.S. tax purposes, owned 25.6% by Chilean Equity and 74.4% by PSEG Americas Ltd., was formed for the purpose of making investments in South America. 1.3.B.3.(b)(i)(T)(i)(a)(iii)(a) Inversiones Sempra-PSEG Chile S.A. (Inversiones Sempra-PSEG), a Chilean company, has its principal executive offices at Av. Apoquindo 3721, Piso 13, Santiago, Chile and was formed for the purpose of making investments in Chile and Peru. Chilean Equity, through Asociacion en Participacion above, holds a direct 50% interest in Inversiones Sempra-PSEG. 1.3.B.3.(b)(i)(T)(i)(a)(iii)(a)(i) Chilquinta Energia S.A., a Chilean company, has its principal executive offices at General Cruz No. 222, Valparaiso, Chile, is a FUCO and was formed for the purpose of making investments in Chile and Peru. A 99.99% interest in Chilquinta Energia S.A. is 33 directly held by Inversiones Sempra-PSEG described above and .000004% owned by Chilean Equity. 1.3.B.3.(b)(i)(T)(i)(a)(iii)(a)(i)(a) International Technical Operators A.V.V. (ITO), (formerly Chilquinta International A.V.V.), an Aruban company, has its principal executive offices at Zoutmanstraat 35, Oranjestad, Aruba and was formed for the purpose of making investments in Peru. A 99% interest in ITO is directly owned by Chilquinta Energia S.A. The remaining 1% interest is directly owned by Tecnored S.A. (described above). 1.3.B.3.(b)(i)(T)(i)(a)(iii)(a)(i)(a)(i) Chilquinta Argentina S.A., an Argentine company, with registered offices in Buenos Aires, Argentina was formed for the purpose of investing in Latin America. Chilquinta Argentina S.A. is 99.99% owned by ITO and the remaining 0.01% is owned by Tecnored S.A. 1.3.B.3.(b)(i)(T)(i)(a)(iii)(a)(i)(b) Energas S.A., a Chilean company, has its principal place of business at General Cruz No. 222, Valparaiso, Chile and was formed for the purpose of acquiring, producing, storing, distributing and selling gas and related business in the Fifth Region of Chile. A 99.99% interest in Energas S.A. is directly owned by Chilquinta Energia S.A. and the remaining 0.01% is owned by Compania Electrica del Litoral S.A. 1.3.B.3.(b)(i)(T)(i)(a)(iii)(a)(i)(c) Energia de Casablanca S.A., a Chilean company, has its principal place of business at Portales 187, Casablanca, Chile and was formed for the purpose of distributing, generating, acquiring and selling electric or other kinds of energy and related business. A 68.97% interest in Energia de Casablanca S.A. is directly owned by Chilquinta Energia S.A. 1.3.B.3.(b)(i)(T)(i)(a)(iii)(a)(i)(d) Compania Electrica del Litoral S.A., a Chilean company, has its principal place of business at Alameda 949, Of. 2002, Santiago, Chile and was formed for the purpose of producing, acquiring, transporting, distributing and selling electric energy and related business. A 75.61% interest in Compania Electrica del Litoral S.A. is directly owned by Chilquinta Energia S.A. 1.3.B.3.(b)(i)(T)(i)(a)(iii)(a)(i)(d)(i) Inmobiliaria del Litoral S.A., a Chilean company, has its principal place of business at Alameda 949, Of. 2002, Santiago, Chile and was formed for the purpose of producing, acquiring, transporting, distributing and selling electric energy and related business. An 80% interest in Inmobiliaria del Litoral S.A. is directly owned by Compania Electrica del Litoral S.A. and the remaining 20% interest is held by Generadora Electrica Sauce los Andes S.A. 1.3.B.3.(b)(i)(T)(i)(a)(iii)(a)(i)(d)(ii) Generadora Electrica Sauce los Andes S.A. (Sauce), a Chilean company, has its principal place of business at Alameda 949, Of. 2002, Santiago, Chile and was formed for the purpose of producing, acquiring, transporting, distributing and selling electric energy and related business. A 99.5% interest in Sauce is directly owned by Compania Electrica del Litoral S.A. and the remaining 0.5% interest is held by Chilquinta Energia S.A. 34 1.3.B.3.(b)(i)(T)(i)(a)(iii)(a)(i)(e) Luzlinares S.A., a Chilean company, has its principal place of business at Max Jara 478, Linares, Chile and was formed for the purpose of distributing, generating, acquiring and selling electric or other kinds of energy and related business. A 52.5% interest in Luzlinares S.A. is directly owned by Chilquinta Energia S.A. 1.3.B.3.(b)(i)(T)(i)(a)(iii)(a)(i)(f) Distribuidora Parral S.A./Luz Par S.A. (Luz Parral), a Chilean company, has its principal place of business at Max Jara 478, Linares, Chile and was formed for the purpose of distributing, generating, acquiring and selling electric or other kinds of energy and related business. A 51% interest in Luz Parral is directly owned by Chilquinta Energia S.A. 1.3.B.3.(b)(i)(T)(i)(a)(iii)(b) Peruvian Opportunity Company SAC (Peru), a Peruvian company, has its registered office at Victor Andres Belaunde 147, Edificio Real 3, Piso 12, San Isidro, Lima 27, Peru and it is 50% owned by PSEG Americas Ltd. . It has the following direct and indirect, wholly and partially owned subsidiaries as follows: 1.3.B.3.(b)(i)(T)(i)(iii)(b)(i) PSEG Sempra Peruvian Services Company, a Cayman Islands company, has its registered office at Ugland House, South Church Street, George Town, Grand Cayman, Cayman Islands, British West Indies, and was formed for the purpose of investing in power facilities in Latin America. PSPSC owns 100%, less one share, of Inversiones en Servicios Electricos S.R.L. (IeSE). One share of IeSE is owned by PSEG Sempra Peruvian Services Company II (PSPSCII). 1.3.B.3.(b)(i)(T)(i)(a)(iii)(b)(i)(a) IeSE, a Peruvian company, has its registered office in Peru and was formed for the purpose of investing in Latin America. IeSE owns a 51.79% interest in Tecsur S.A.A. 1.3.B.3.(b)(i)(T)(i)(a)(iii)(b)(ii) PSPSCII, a Cayman Islands company, has its registered office at Ugland House, South Church Street, George Town, Grand Cayman, Cayman Islands, British West Indies, and was formed for the purpose of investing in power facilities in Latin America. PSPSCII owns one share of IeSE. 1.3.B.3.(b)(i)(T)(i)(a)(iii)(c) PSEG Cayman Americas IV Company, a Cayman Islands company, has its registered office at Ugland House, South Church Street, George Town, Grand Cayman, Cayman Islands, British West Indies, and was formed for the purpose of making future investments in Latin America. 1.3.B.3.(b)(i)(T)(i)(a)(iii)(a)(i)(d) Ontario Quinta A.V.V., an Aruban company, has its principal executive offices at Zoutmanstraat 35, Oranjestad, Aruba and was formed for the purpose of making investments in Peru. A 55.3% interest in Ontario Quinta A.V.V. is directly owned by Chilquinta Energia S.A., Peruvian Opportunity Company S.A.C. owns the remaining 44.7% interest. 1.3.B.3.(b)(i)(T)(i)(a)(iii)(a)(i)(d)(i) Tecsur S.A.A., a Peruvian company, has its executive offices at Pasaje Calango 158 San Juan De Mirafloref, Lima, Peru and is an energy-related services company. 35 A 3.72% interest is owned by Ontario Quinta A.V.V., 31.5% interest is owned by Chilquinta Energia S.A. and 51.79% interest is owned by Inversiones en Servicios Electricos S.R.L. 1.3.B.3.(b)(i)(T)(i)(a)(iii)(a)(i)(d)(ii) Luz del Sur S.A.A., a Peruvian company, has its principal executive offices at Canaval y Moreyra 380, Piso 18, San Isidro Lima, Peru and is a FUCO and an electric distribution company serving southern Lima, Peru. Luz del Sur S.A.A. is 61.16% owned by Ontario Quinta A.V.V, 22.89% owned by Peruvian Opportunity Company S.A.C. and 3.83% owned by Energy Business International A.V.V. 1.3.B.3.(b)(i)(T)(i)(a)(iii)(a)(i)(d)(ii)(a) Empresa de Distribucion Electrica de Canete S.A. (EDE Canete S.A.), a Peruvian company, has its executive offices at Av. 28 de Julio 386, San Vicente de Canete, Canete. A 99.9999% interest is owned by Luz del Sur S.A.A. and each of Tecsur S.A.A. and Inmobiliaria Luz del Sur S.A. owns a 0.00005% interest. 1.3.B.3.(b)(i)(T)(i)(a)(iii)(a)(i)(d)(ii)(b) Inmobiliaria Luz del Sur S.A., a Peruvian company , has its principal executive offices in Peru and is 99.9999% owned by Luz del Sur S.A.A. 1.3.B.3.(b)(i)(T)(i)(a)(iii)(a)(i)(d)(ii)(c) Luz del Sur International A.V.V., an Aruban company, has its principal place of business at Zoutmanstraat 35, Oranjestad, Aruba and is wholly-owned by Luz del Sur S.A.A. 1.3.B.3.(b)(i)(T)(i)(a)(iii)(a)(i)(e) Energy Business International A.V.V. (EBI), an Aruban company, has its principal place of business at Zoutmanstraat 35, Oranjestad, Aruba and is a holding company with a 3.83% interest in Luz del Sur S.A.A. EBI is a wholly owned direct subsidiary of Chilquinta Energia S.A. 1.3.B.3.(b)(i)(U) InfraMax, a Cayman Islands company, has its registered office at Ugland House, South Church Street, George Town, Grand Cayman, Cayman Islands, British West Indies, and was formed for the future provision of services and materials relating to energy and communication delivery. InfraMax holds a direct 33.34% interest in each of the following company. 1.3.B.3.(b)(i)(U)(i) B.A. Services.Com S.R.L., an Argentine company, has its registered office in Buenos Aires, Argentina, and was formed for the purpose of providing internet access services to the EDEN/EDES area. BA Services.Com S.R.L. is 33.34% owned by Inframax. 1.3.B.3.(b)(i)(U)(ii) B.A. Trading S.R.L., an Argentine Company, has its registered office in Buenos Aires, Argentina, and was formed for the purpose of investing in Latin America and is 33.34% owned by Inframax. 1.3.B.3.(b)(i)(U)(iii) B.A. Renewables S.R.L., an Argentine Company, has its registered office in Buenos Aires, Argentina, and was formed for the purpose of investing in Latin America and is 33.34% owned by Inframax. 1.3.B.3.(b)(i)(V) PSEG Americas II Ltd. (PSEGAII), a Bermuda limited liability company, has its principal executive offices at Clarendon House, 2 Church Street, Hamilton, Bermuda. PSEGAII has one direct 50% owned subsidiary, and one indirect 17.13% owned subsidiary as described below. 36 1.3.B.3.(b)(i)(V)(i) Turbogeneradores de Venezuela, C.A. (TGV), a Venezuelan company, has its principal executive offices at Avenida Francisco de Miranda, Torre Country Club, Chacaito, Caracas 1050, Venezuela. TGV is 50% directly owned by PSEGAII. TGV owns 17.13% of Turbogeneradores Maracay, C.A. (TGM). 1.3.B.3.(b)(i)(V)(i)(a) TGM, a Venezuelan company, has its principal executive offices at Avenida Francisco de Miranda, Torre Country Club, Chacaito, Caracas 1050, Venezuela. TGM owns an investment in a gas-fired electric power generation facility in Maracay, Venezuela, and is a FUCO. 1.3.B.3.(b)(i)(W) PSEG China Inc. (PSEG China), a Delaware corporation, has its registered office at 1209 Orange Street, Wilmington, Delaware 19801, and has the following direct and indirect wholly and partially owned subsidiaries: 1.3.B.3.(b)(i)(W)(i) Meiya Power Company Limited (MPC), a Bermuda limited liability company, has its registered offices at Clarendon House, 2 Church Street, Hamilton, Bermuda, is 50% owned by PSEG China and has the following direct and indirect wholly and partially owned subsidiaries: 1.3.B.3.(b)(i)(W)(i)(a) PSEG Zuojiang Hydropower Ltd. (ZHL), a Mauritius company, has its registered office at 608 St. James Court, St. Denis Street, Port Louis, Mauritius, and was formed for the purpose of investing in power facilities in Zuojiang, China and is an EWG. ZHL has a direct 60% interest in Guangxi Zuojiang Meiya Hydropower Co. Ltd., described below. 1.3.B.3.(b)(i)(W)(i)(a)(i) Guangxi Zuojiang Meiya Hydropower Co. Ltd., a Chinese joint venture company, has its registered office at 17 You Ai North Road, Nanning City, Guangxi Zhuang Nationality Autonomous Region, China and owns and operates a hydroelectric power facility in Zuojiang, Guangxi Zhuang Nationality Autonomous Region, China which is an EWG. 1.3.B.3.(b)(i)(W)(i)(b) PSEG Huangshi Power Ltd., a Bermuda limited liability company, has its registered offices at Clarenden House, 2 Church Street, Hamilton, Bermuda and was formed for the purpose of investing in power facilities in China. PSEG Huangshi Power Ltd. has a direct 49% interest in Hubei Xisaishan Power Generation Company Ltd.(HXPGCL), described below. 1.3.B.3.(b)(i)(W)(i)(b)(i) HXPGCL, a Chinese company, has its registered offices at Xi Sai Xiang, Shi Hui Yao Qu, Huangshi City, Hubei Province and was formed for the purpose of investing in power facilities in China. 1.3.B.3.(b)(i)(W)(i)(c) PSEG Shanghai BFG Company, a Cayman Islands company, has its registered office at Ugland House, South Church Street, George Town, Grand Cayman, Cayman Islands, British West Indies, and has one direct 50% owned subsidiary and one indirect subsidiary, described below. 1.3.B.3.(b)(i)(W)(i)(c)(i) CanAm Energy China Holdings, LLC (CanAm), a Delaware limited liability company, has its registered office at 1209 Orange Street, Wilmington, Delaware 19801, and was formed for the purpose of investing in power facilities in China which is qualified as a 37 FUCO. PSEG China indirectly owns 25% of CanAm. CanAm has a 65% interest in Shanghai Wei-Gang Energy Company Ltd., described below. 1.3.B.3.(b)(i)(W)(i)(c)(i)(1) Shanghai Wei-Gang Energy Company Ltd., (SWGEC), a Chinese joint venture company, has its registered office at 735 Changjiang Road, Shanghai, China 200431, and owns and operates a blast furnace gas-fired electric power generation facility in Shanghai, China which has FUCO status. 1.3.B.3.(b)(i)(W)(i)(d) PSEG Tongzhou Cogen Power Ltd., (TMC), a Bermuda limited liability company, has its registered offices at Clarendon House, 2 Church Street, Hamilton, Bermuda, and has one direct 80% owned subsidiary as described below. 1.3.B.3.(b)(i)(W)(i)(d)(i) Tongzhou Meiya Cogeneration Company Limited (TMCC), a Chinese joint venture company, has its offices at Jin Tong Lu, Tongzhou City, Jiangsu Province, China, and owns and operates a coal-fired cogeneration facility in Tongzhou City, Jiangsu Province, China, which is an EWG. PSEG China indirectly owns 40% of TMCC. 1.3.B.3.(b)(i)(W)(i)(e) PSEG (Bermuda) Holdings Ltd., a Bermuda limited liability company, has its registered offices at Clarendon House, 2 Church Street, Hamilton, Bermuda, and owns a 60% interest in Shanghai Meiya Jinqiao Energy Co., Ltd. (SMJE), as described below. 1.3.B.3.(b)(i)(W)(i)(e)(i) SMJE, a Chinese joint venture company, has its registered office at Lot #21, Jinqiao EPZ, Shanghai, China, and owns and operates a coal/oil-fired steam plant in Shanghai, China. PSEG China indirectly owns 30% of SMJE. 1.3.B.3.(b)(i)(W)(i)(f) China U.S. Power Partners I, Ltd., a Bermuda limited liability company, has its registered offices at Clarendon House, 2 Church Street, Hamilton, Bermuda, is an EWG, and has a 30% interest in Jingyuan Second Power Co., Ltd., (Jingyuan), as described below. 1.3.B.3.(b)(i)(W)(i)(f)(i) Jingyuan, a Chinese joint venture company, has its registered office at Lanzhou City, Gansu Province, China, and owns a coal-fired electric power generation facility in Jingyuan, China which is an EWG. PSEG China indirectly owns 15% of Jingyuan. 1.3.B.3.(b)(i)(W)(i)(f)(i)(a) Meiya Power China Holdings Limited, a Cayman Islands company, has its registered office at Ugland House, South Church Street, George Town, Grand Cayman, Cayman Islands, British West Indies and owns the following direct and indirect subsidiaries: 1.3.B.3.(b)(i)(W)(i)(f)(i)(a)(1) Meiya Power International Holding I, Ltd., a Cayman Islands company, has its registered office at Ugland House, South Church Street, George Town, Grand Cayman, Cayman Islands, British West Indies and owns a 100% interest in Meiya Electric Asia, Ltd. 1.3.B.3.(b)(i)(W)(i)(f)(i)(a)(1)(A) Meiya Electric Asia, Ltd., a Mauritius company, has its registered office at 608 St. James Court, St. Denis Street, Port Louis, Mauritius and owns a 92% interest in Nantong Entergy Heat & Power Co. Ltd., (Nantong). EWG status was granted on June 2, 2000. 38 1.3.B.3.(b)(i)(W)(i)(f)(i)(a)(1)(A)(1) Nantong, a Chinese joint venture company, has its registered office at West of Shi Hua Road, Nantong Economic and Technological Development Zone, Nantong Municipality, Jiangsu Province, China, and owns and operates a steam turbine electric power generation facility in Jiangsu, China which is qualified as an EWG. 1.3.B.3.(b)(i)(W)(i)(g) PSEG Rongjiang Hydropower Ltd., a Mauritius company, has its registered office at 608 St. James Court, St. Denis Street, Port Louis, Mauritius, and was formed for the purpose of investing in power facilities in China. PSEG Rongjiang Hydropower Ltd. owns a 55% interest in Guangxi Rongjiang Meiya Company Ltd. (GRMCL) and an 80% interest in Guangxi Rongjiang Meiya Hydropower Company Ltd. (GRMHCL). EWG status was granted on June 2, 2000. 1.3.B.3.(b)(i)(W)(i)(g)(i) GRMCL, a Chinese joint venture company, has its registered office at 29 Guang Ya Lu, Liuzhou City, Guangxi, China, and owns a dam station, which is expected to qualify as an EWG upon completion. 1.3.B.3.(b)(i)(W)(i)(g)(i)(a) GRMHCL, a Chinese joint venture company, has its registered office at 29 Guang Ya Lu, Liuzhou City, Guangxi, China, and owns a hydropower station, which is expected to qualify as an EWG upon completion. 1.3.B.3.(b)(i)(W)(i)(h) Yaneng Consulting (Shanghai) Company Limited, a Chinese company, has its principal executive office at Unit 08-13, 14th Floor, POS Plaza, 1600 Century Avenue, Pudong New District, Shanghai, People's Republic of China and to render consulting services on technology and other services in relation to the electric and thermal power industry. 1.3.B.3.(b)(i)(W)(i)(i) Meiya (Tao Yuan) Power Company Ltd., a Malaysian company, has its registered office at Level 13(E), Main Office Tower, Financial Park Labuan, Jalan Merdeka, 87000, Labuan F.T., Malaysia and owns a 35% interest in Kuo Kuang Power Company Ltd. (Kuo Kuang) described below. 1.3.B.3.(b)(i)(W)(i)(i)(a) Kuo Kuang, a Taiwanese company, has its registered office at 15/F., 9 Shiang Yang Road, Taipei, Taiwan, Republic of China, and was formed for the purpose of investing in power facilities in Taiwan. 1.3.B.3.(b)(i)(W)(i)(j) Meiya Sanjiang Hydropower Limited, formerly Meiya Rudong Cogen Power Ltd., a Cayman Islands company, has its registered office at Ugland House, South Church Street, George Town, Grand Cayman, Cayman Islands, British West Indies and was formed for the purpose of making investments in China. 1.3.B.3.(b)(i)(W)(i)(k) Meiya Power Development Company Ltd., a Hong Kong company, was formed for the purpose of investing in China. 1.3.B.3.(b)(i)(W)(i)(l) Meiya Qujing Power Company Ltd., a Cayman Islands company, has its registered office at Ugland House, South Church Street, George Town, Grand Cayman, Cayman Islands, British West Indies and was formed for the purpose making investments in China. 39 1.3.B.3.(b)(i)(W)(i)(m) Meiya (Taiwan) Power Development Limited, a Malaysian company, has its registered office at Level 13(E), Main Office Tower, Financial Park Labuan, Jalan Merdeka, 87000, Labuan F.T., Malaysia, was formed purpose of investing in Taiwan. 1.3.B.3.(b)(i)(X) PSEG Salalah Inc. (PSEG SI), a Delaware corporation, has its registered office at 1209 Orange Street, Wilmington, Delaware 19801. PSEG SI has the following direct and indirect wholly and partially owned subsidiaries: 1.3.B.3.(b)(i)(X)(i) PSEG Oman Company, a Cayman Islands company, has its registered office at Ugland House, South Church Street, George Town, Grand Cayman, Cayman Islands, British West Indies and was formed for the purposes of future investment in Oman. 1.3.B.3.(b)(i)(X)(ii) Salalah Power Holdings, Ltd. (SPH), a Bermuda limited liability company, has its principal executive offices at Clarendon House, 2 Church Street, Hamilton, Bermuda, is wholly owned by PSEG SI and has the following direct and indirect wholly and partially owned subsidiaries described below. 1.3.B.3.(b)(i)(X)(ii)(b) Salalah Power Holdings II, Ltd. (SPHII), a Bermuda limited liability company, has its principal executive offices at Clarendon House, 2 Church Street, Hamilton, Bermuda, and was formed for the purpose of investing in power facilities in Salalah, Oman, and is currently inactive. 1.3.B.3.(b)(i)(X)(ii)(c) Dhofar Power Company SAOC (Dhofar), an Oman company has its registered offices in Oman and was formed for the purpose of investing in power facilities in Oman. Dhofar is 81% owned by SPH described above. Dhofar owns a 99.99% interest in Dhofar Generating Company SAOC. 1.3.B.3.(b)(i)(X)(ii)(c)(i)) Dhofar Generating Company SAOC, an Oman company, has its registered office in Oman and was formed for the purpose of investing in power facilities in Oman. 1.3.B.3.(b)(i)(X)(iii) PSEG Oman Power Holdings Company, a Cayman Islands company has its registered office at Ugland House, South Church Street, George Town, Grand Cayman, Cayman Islands, British West Indies, and was formed for the purpose of investing in power facilities in Salalah, Oman. 1.3.B.3.(b)(i)(Y) PSEG International Holding Company, a Cayman Island company, has its registered office at Ugland House, South Church Street, George Town, Grand Cayman, Cayman Islands, British West Indies, and has the following direct and indirect subsidiaries: 1.3.B.3.(b)(i)(Y)(i) PSEG International Holding II Company, a Cayman Island company, has its registered office at Ugland House, South Church Street, George Town, Grand Cayman, Cayman Islands, British West Indies, and wholly owns PSEG International Ltd. and indirectly partially owns Carthage Power Company Sarl described below. 40 1.3.B.3.(b)(i)(Y)(i)(a) PSEG International Ltd., a Bermuda limited liability company, has its principal executive offices at Clarendon House, 2 Church Street, Hamilton, Bermuda HM11, and has a 60% interest in Carthage Power Company Sarl, which is an EWG, described below. 1.3.B.3.(b)(i)(Y)(i)(a)(i) Carthage Power Company Sarl, a Tunisian company, has its registered offices at Immeuble al Badr, Rue 102, Les Berges du Lac, 2045 Tunis and was formed for the purpose of developing, constructing, owning and operating a 471 MW combined-cycle power generation facility in Rades, Tunisia. 1.3.B.3.(b)(i)(Y)(ii) PSEG Holdings Pte Ltd., a Singapore company, has its principal executive offices at 95 South Bridge Road, #09-00 Pidemco Centre, Singapore 058717, and was formed for the purpose of investing in power facilities in Israel. 1.3.B.3.(b)(i)(II) PSEG India Company, a Cayman Islands company, has its registered office at Ugland House, South Church Street, George Town, Grand Cayman, Cayman Islands, British West Indies. PSEG India Company has one direct wholly owned subsidiary and five indirect wholly and partially owned subsidiaries described below. 1.3.B.3.(b)(i)(II)(i) PSEG EAMS Ltd. (PSEG EAMS), a Mauritius company, has its registered office at 608 St. James Court, St. Denis Street, Port Louis, Mauritius, and is a wholly owned subsidiary of PSEG India Company and has two direct wholly-owned subsidiaries, two indirect partially owned and one wholly owned subsidiary which are described below. 1.3.B.3.(b)(i)(II)(i)(a) PSEG Operations Ltd., a Mauritius company, has its registered office at 608 St. James Court, St. Denis Street, Port Louis, Mauritius, and has one direct wholly owned subsidiary and one partially owned subsidiary, described below. 1.3.B.3.(b)(i)(II)(i)(a)(i) PSEG PPN Operations Private Ltd., an Indian company, has its registered office at Prince Towers', Floor 9, 25-26, College Road, Chennai, India 600 006, was formed for the purpose of operation and maintenance of power facilities in India and is an EWG. PSEG Ambalamugal Energy Company Ltd. (described above) owns one share of PSEG PPN Operations Private Ltd. 1.3.B.3.(b)(i)(II)(i)(a)(ii) GMR PSEG Operations Private Limited, and Indian company, has its registered office at 'Prince Towers', Floor 9, 25-26, College Road, Chennai, India 600 006, was formed to provide O&M support to projects in India. PSEG Operations Ltd. has a 51% interest in GMR PSEG Opertations Private Limited. 1.3.B.3.(b)(i)(II)(i)(b) PSEG PPN Energy Company Ltd., a Mauritius company, has its registered office at 608 St. James Court, St. Denis Street, Port Louis, Mauritius, was formed for the purpose of investing in power facilities in India. As of March 1, 1999, status as an EWG was granted. PSEG PPN Energy Company Ltd. has a 20% ownership interest in PPN Power Generating Company Limited (PPN PGC) as described below. 41 1.3.B.3.(b)(i)(II)(i)(b)(i) PPN PGC, an Indian company, has its registered office at Jhaver Plaza III Floor, I A Nungambakkam High Road, Nungambakkam, Chennai, India 600034, and was formed for the purpose of owning and operating power facilities in India. 1.3.B.3.(b)(i)(JJ) Inversiones PSEG Americas Chile Holding Limitada, a Chilean company, owned 99.9% by PSEG Americas Ltd. and 0.1% by PSEG Chilean Equity II Ltd. and was formed for the purpose of investing in South America. 1.3.B.3.(b)(i)(KK) PSEG Argentina Holding Company LLC, a Delaware limited liability company, has its registered office at 1209 Orange Street, Wilmington, Delaware 19801, and was formed for the purpose of investing in Latin America. 1.3.B.3.(b)(i)(LL) PSEG Cayman Americas I Company (Cayman I), a Cayman Islands company, has its registered office at Ugland House, South Church Street, George Town, Grand Cayman, Cayman Islands, British West Indies, and has one 99.9916% subsidiary as described below (PSEG Cayman Americas II Company (Cayman II) owns the remaining 0.0083%). 1.3.B.3.(b)(i)(LL)(i) PSEG Operadora S.R.L., an Argentine company, has its registered office at Marcelo T. de Alvear 684, Piso 2, Buenos Aires, Argentina. 1.3.B.3.(b)(i)(MM) PSEG Cayman II, a Cayman Islands company, has its registered office at Ugland House, South Church Street, George Town, Grand Cayman, Cayman Islands, British West Indies, and owns 0.0083% of PSEG Operadora S.R.L. (described above). 1.3.B.3.(b)(i)(NN) PSEG Ummalnar Energy Company Ltd., formerly PSEG Cayman Americas III Company, a Cayman Islands company, has its registered office at Ugland House, South Church Street, George Town, Grand Cayman, Cayman Islands, British West Indies, and was formed for the purpose of investing in the United Arab Emirates. 1.3.B.3.(b)(i)(OO) Servicios Tecnicos PSEG Chile Limitada (STPC), a Chilean company, has its registered office in Santiago, Chile and was formed for the purpose of investing in Latin America. STPC is 99.9% owned by PSEG Americas Ltd. and .1% owned by PSEG Chilean Equity II Ltd. 1.3.B.3.(b)(i)(PP) PSEG Edeersa Company, formerly PSEG Sharquia Power Holdings Ltd., a Cayman Islands company, has its registered office at Ugland House, South Church Street, George Town, Grand Cayman, Cayman Islands, British West Indies and was formed for the purpose of investing in Latin America. PSEG Edeersa Company is wholly owned by PSEG Americas Ltd. 1.3.B.3.(b)(i)(X)(ii)(a) PSEG Chile Generation Ltd., formerly Salalah Power Holdings I Ltd., a Bermuda limited liability company, has its principal executive offices at Clarendon House, 2 Church Street, Hamilton, Bermuda, and is being used for the purpose of investing in power facilities in Chile. 1.3.C. Enterprise Group Development Corporation (EGDC), a New Jersey corporation, has its principal executive offices at 80 Park Plaza, Newark, New Jersey 07102. EGDC is a nonresidential real estate property management business. EGDC has investments in seven 42 commercial real estate properties (one of which is developed) in several states. EGDC is an 80% joint venture partner in each of State Street Square Urban Renewal Partners (SSSURPI), State Street Square Urban Renewal Partners II (SSSURPII), State Street Square Partners III (SSSIII), State Street Square 36 West Partners (SSS36W) and State Street Square NSB Partners (SSSNSB). EGDC is a wholly-owned subsidiary of Energy Holdings. EGDC has nine direct and two indirect subsidiaries, including general partnership interests as described below. 1.3.C.1. EGDC - Concourse, Incorporated (Concourse), a Florida corporation, has its principal executive offices at 80 Park Plaza, Newark, New Jersey 07102. Concourse is a 75% general partner in Concourse at Maitland Associates (CMA). EGDC owns 100% of Concourse. 1.3.C.1.(a) CMA, a Florida general partnership, has its principal executive offices at One Riverchase Parkway South, Birmingham, Alabama 35201, and is presently inactive. 1.3.C.2. EGDC - Fairfax, Incorporated (Fairfax), a Virginia corporation, has its principal executive offices at 80 Park Plaza, Newark, New Jersey 07102. Fairfax is a 50% general partner in Monument Place Associates (MPA). 1.3.C.2.(a) MPA, a Virginia general partnership, has its principal executive offices at 1416 Dodge Street, Room 1100, Omaha, Nebraska 68179, and owns land on which it plans to develop an office complex in Fairfax County, Virginia. 1.3.C.3. SSSURPI, a New Jersey general partnership, has its principal executive offices at 50 West State Street, Trenton, New Jersey 08608, and owns land and improvements comprising one phase of a commercial office complex in Trenton, New Jersey. 1.3.C.4. SSSURPII, a New Jersey general partnership, has its principal executive offices at 50 West State Street, Trenton, New Jersey 08608, and owns vacant land presently used for surface parking comprising one phase of a commercial office complex in Trenton, New Jersey. 1.3.C.5. SSSIII, a New Jersey general partnership, has its principal executive offices at 50 West State Street, Trenton, New Jersey 08608, and owns land in Trenton, New Jersey. 1.3.C.6. SSSNSB, a New Jersey general partnership, has its principal executive offices at 50 West State Street, Trenton, New Jersey 08608, and owns the former National State Bank Building in Trenton, New Jersey. 1.3.C.7. SSS36W, a New Jersey general partnership, has its principal executive offices at 50 West State Street, Trenton, New Jersey 08608, and is presently inactive. 1.3.C.8. EGDC - Largo Incorporated (Largo), a Maryland corporation, has its principal executive offices at 80 Park Plaza, Newark, New Jersey 07102, and owns land on which it plans to develop an office complex in Largo, Maryland. 1.3.C.9. EGDC - Largo Management Incorporated (Largo Management), a Maryland corporation, has its principal executive offices at 80 Park Plaza, Newark, New Jersey 07102, and is presently inactive. 43 1.3.D. PSEG Energy Technologies Inc. (PSEG Energy Technologies), a New Jersey corporation, has its principal executive offices at 499 Thornall Street, 4th Floor, Edison, New Jersey 08837. PSEG Energy Technologies, an energy services business, is a wholly-owned subsidiary of PSEG Energy Holdings. Energy Technologies is an energy management company that constructs, operates and maintains heating, ventilating and air conditioning (HVAC) systems for and provides energy-related engineering, consulting and mechanical contracting services to industrial and commercial customers in the Northeastern and Middle Atlantic United States. As of December 31, 2001, Energy Technologies had assets of $290 million. We are evaluating the future prospects of Energy Technologies' business model and its fit in the PSEG portfolio given the slower pace of retail energy deregulation in the markets in which we are active, as well as, the substandard performance of Energy Technologies since its inception. As of December 31, 2001, PSEG Energy Technologies comprised 1% of PSEG's assets and 5% of PSEG's revenues and PSEG Energy Technologies' 2001 net loss comprised (3)% of PSEG's net income. PSEG Energy Technologies has the following 14 direct (wholly-owned, unless otherwise indicated) and 13 indirect subsidiaries: 1.3.D.1. The Dowling Group, Inc. (Dowling Group), a Pennsylvania corporation, has its principal executive offices at 9815 Roosevelt Boulevard, Philadelphia, Pennsylvania 19114. Dowling Group has one direct subsidiary and two indirect subsidiaries, as follows: 1.3.D.1.(a) Fluidics, Inc. (Fluidics), a Pennsylvania corporation, has its principal executive offices at 9815 Roosevelt Boulevard, Philadelphia, Pennsylvania 19114. Fluidics is a 14% directly-owned subsidiary of PSEG Energy Technologies and an 86% directly-owned subsidiary of Dowling Group. Fluidics provides mechanical, construction and building services. Fluidics has two wholly-owned subsidiaries, as follows: 1.3.D.1.(a)(i) Fluidics of New Jersey, Inc., a New Jersey corporation, has its principal executive offices at 499 Thornall Street, Edison, New Jersey 08837. Fluidics of New Jersey, Inc. provides mechanical, construction and building services. 1.3.D.1.(a)(ii) Wredna, Inc. (Wredna), a Delaware Corporation, has its principal executive offices at 900 Market Street, Suite 200, Wilmington, Delaware 19801. Wredna owns various Fluidics trade and service marks which it licenses to Fluidics. Wredna is also the General Partner of Quonset Point Cogen. 1.3.D.2. Arden Engineering Constructors, Inc. (Arden), a Rhode Island corporation, has its principal executive offices at 435 Narragansett Park Drive, Pawtucket, Rhode Island 02861. Arden provides mechanical, construction and building services. 44 1.3.D.3. East Coast Mechanical, Inc. (East Coast), a Virginia corporation, has its principal executive offices at 552 Central Drive, Suite 112, Virginia Beach, Virginia 23454. East Coast provides mechanical, construction and building services. 1.3.D.4. Barham-McBride Company Incorporated (BaMCo), a New Jersey corporation, has its principal executive offices at 4239 Route 33, Tinton Falls, New Jersey 07713. BaMCo is a partially-owned subsidiary of PSEG Energy Technologies, whose shareholders are 90% PSEG Energy Technologies, and 10% Terence McBride. BaMCo provides mechanical contracting services and has five direct subsidiaries. 1.3.D.4.(a) McBride Realty Company (McBride Realty), a New Jersey corporation, has its principal executive offices at 233 Central Avenue, Hawthorne, New Jersey 07507. McBride Realty is currently inactive and in the process of dissolution. 1.3.D.4.(b) Urban Comm-Data, Inc. (Urban), a New Jersey corporation, has its principal executive offices at 128 Bauer Drive, Suite 3, Oakland, New Jersey 07436. Urban provides mechanical and electrical services. 1.3.D.4.(c) Independent Electrical Construction Company (Independent Electrical), a New Jersey corporation, has its principal executive offices at 128 Bauer Drive, Suite 3, Oakland, New Jersey 07436. Independent Electrical provides mechanical and electric contracting services. 1.3.D.4.(d) Independent Sheet Metal Co. Inc. (Independent Sheet), a New Jersey corporation, has its principal executive offices at PO Box 649, 50 Fifth Avenue, Hawthorne, New Jersey 07506. Independent Sheet provides sheet metal fabrication and installation services, primarily for mechanical applications. 1.3.D.4.(e) McBride Energy Services Company, LLC (MESCO), a New Jersey limited liability company, has its principal offices at 233 Central Avenue, Hawthorne, New Jersey 07506. MESCO is an energy services business. MESCO is owned 90% by BaMCo and 10% by Todd Meyer. . 1.3.D.4.(f) Barham-McBride Joint Venture (B-M JV), a New Jersey joint venture of, and owned equally by, BaMCo and Thomas H. Barham Co. (Barham) (see below). B-M JV provides mechanical contracting services for various casinos in Atlantic City and the Tosco facility in Linden, New Jersey. 1.3.D.5. Liber Rich & Sons, Inc. (Liber Rich), a New Jersey corporation, has its principal executive offices at 701 West Delilah Road, Pleasantville, New Jersey 08232. Liber Rich is a partially owned subsidiary of PSEG Energy Technologies, whose shareholders are 90% PSEG Energy Technologies, and 10% Joseph Rich Jr. Liber Rich provides mechanical contracting services. 1.3.D.6. Rich Fire Protection Company, Inc. (Rich Fire), a New Jersey corporation, has its principal executive offices at 701 West Delilah Road, Pleasantville, New Jersey 08232. Rich Fire provides fire protection and mechanical contracting services. 45 1.3.D.7. Keith H. Struble Air Conditioning, Inc. (Struble), a New Jersey corporation, has its principal executive offices at 321 Fairfield Road, Fairfield, New Jersey 07004. Struble provides mechanical contracting services. 1.3.D.8. Barham, a New Jersey corporation, has its principal executive offices at 4239 Highway 33, Tinton Falls, NJ 07753. Barham is a partially owned subsidiary of PSEG Energy Technologies, whose shareholders are 90% PSEG Energy Technologies, and 10% Thomas M. Barham. Barham provides mechanical contracting services. 1.3.D.9 Central Plumbing and Heating Company, Inc. (Central), a Pennsylvania corporation, has its principal offices at 622 Hanover Avenue, Allentown, Pennsylvania 18103. Central provides fire protection and mechanical services. 1.3.D.10. Tougher Industries, Inc. (Tougher), a New York corporation, has its principal offices at 175 Broadway, Albany, New York 12204. Tougher provides mechanical contracting services and fabricates and installs sheet metal for primarily mechanical applications. 1.3.D.10.(a) Tougher Mechanical, Inc. (Mechanical), a New York corporation, has its principal offices at 175 Broadway, Albany, New York 12204. Mechanical provides in house union payroll services. 1.3.D.11 Quonset Point Cogen Corp. (QPC Corp.), a Delaware corporation, has its principal offices at 499 Thornall Street, 4th Floor, Edison, New Jersey 08837. QPC Corp. is the limited partner in Quonset Point Cogen L.P. (QPC LP). 1.3.D.11.(a) QPC LP, a Delaware limited partnership, has its principal offices at 900 Market Street, Suite 200, Wilmington, Delaware 19801. QPC LP is a limited partnership that has as its general partner Wredna, Inc. and as its limited partner QPC Corp. QPC LP owns certain contractual agreements in place and will, upon completion, own and operate a central plant facility at Toray Plastics (America) Inc. in the State of Rhode Island. 1.3.D.12. PSEG Energy Technologies Asset Management Company LLC (AMC LLC), a New Jersey limited liability company, has its principal offices at c/o Public Service Enterprise Group Incorporated, 80 Park Plaza, P.O. Box 1171, Newark New Jersey 07102-1171. AMC LLC's sole member is PSEG Energy Technologies. AMC LLC has two subsidiaries discussed below. 1.3.D.12.(a) PSEG Energy Technologies Demand Management Assets Company LLC (DMA LLC), a New Jersey limited liability company, has its principal offices at c/o Public Service Enterprise Group Incorporated, 80 Park Plaza, P.O. Box 1171, Newark New Jersey 07102-1171. DMA LLC is currently inactive. 1.3.D.12.(b) PSEG Energy Technologies Asset Services Company LLC (AS LLC), a New Jersey limited liability company, has its principal offices at c/o Public Service Enterprise Group Incorporated, 80 Park Plaza, P.O. Box 1171, Newark New Jersey 07102-1171. AS LLC is currently inactive. 1.3.D.13. PSEG ET 211 S. Broad Street Company LLC (ET 211), a Delaware limited liability company, has its principal office at 1209 Orange Street, Wilmington, Delaware 19801. ET 211 is currently inactive. 1.3.D.14. PSEG ET ONE NFL Plaza Company LLC (ET NFL), a Delaware limited liability company, has its principal office at 1209 Orange Street, Wilmington, Delaware 19801. ET NFL is currently inactive. 46 1.3.E. PSEG Capital Corporation (Capital), a New Jersey corporation, has its principal executive offices at 80 Park Plaza, Newark, New Jersey 07102. Capital is a wholly-owned financing subsidiary of Energy Holdings, which serves as a capital financing vehicle for Energy Holdings' businesses, borrowing up to $650 million at any one time outstanding on their behalf on the basis of a minimum net worth maintenance agreement with PSEG. 1.3.F. Enterprise Capital Funding Corporation (Funding), a New Jersey corporation, has its principal executive offices at 80 Park Plaza, Newark, New Jersey 07102. Funding, a wholly-owned subsidiary of Energy Holdings, formerly served as a capital financing vehicle for Energy Holdings' businesses (excluding EGDC and PSEG Energy Technologies), borrowing on their behalf, on the basis of an unconditional guaranty from Energy Holdings, but without direct support from PSEG, as well as investing their short-term funds. Funding is currently inactive. 1.4. PSEG Services Corporation (Services), a New Jersey corporation, has its principal executive offices at 80 Park Plaza, Newark, New Jersey 07102. Services, a wholly-owned subsidiary of PSEG, was formed in 1999 to provide internal support services to PSEG's operating subsidiaries. 2. A brief description of the properties of claimant and each of its subsidiary public utility companies used for the generation, transmission, and distribution of electric energy for sale, or for the production, transmission, and distribution of natural or manufactured gas, indicating the location of principal generating plants, transmission lines, producing fields, gas manufacturing plants, and electric and gas distribution facilities, including all such properties which are outside the State in which claimant and its subsidiaries are organized and all transmission or pipelines which deliver or receive electric energy or gas at the borders of such State. PSEG owns no property used for the generation, transmission, or distribution of electric energy for sale, or for the production, transmission, and distribution of natural or manufactured gas. PSEG's only subsidiary public utility company is PSE&G, which is an operating electric and gas utility company. As noted previously, during 2000, PSE&G transferred its generation-related assets to Power and its subsidiaries Nuclear and Fossil to own and operate such assets in the deregulated electric generation market in New Jersey. A description of the properties of PSE&G used for the transmission and distribution of electric energy for sale, and for the transmission and distribution of natural gas, which are located predominantly in New Jersey follows: In addition to the facilities in New Jersey and Pennsylvania as discussed above, as of December 31, 2001, We owned 39 switching and/or generating stations in New Jersey with an aggregate installed capacity of 30,417,670 kilovolt-amperes and 249 substations with an aggregate installed capacity of 7,446,000 kilovolt-amperes. In addition, six substations in New Jersey having an aggregate installed capacity of 108,000 kilovolt-amperes were operated on leased property. 47 Electric Transmission and Distribution Properties As of December 31, 2001, PSE&G's transmission and distribution system included approximately 21,760 circuit miles, of which approximately 6,363 miles were underground, and approximately 836,068 poles, of which approximately 536,780 poles were jointly owned. Approximately 99% of this property is located in New Jersey. In addition, as of December 31, 2001, PSE&G owned five electric distribution headquarters and four sub headquarters in four operating divisions all located in New Jersey. Gas Distribution Properties As of December 31, 2001, the daily gas capacity of PSE&G's 100%-owned peaking facilities (the maximum daily gas delivery available during the three peak winter months) consisted of liquid petroleum air gas (LPG) and liquefied natural gas (LNG) and aggregated 2,973,000 therms (approximately 2,886,000 cubic feet on an equivalent basis of 1,030 Btu/cubic foot) as shown in 48 the following table:
Daily Capacity Plant Location -------------- ----- -------- (Therms) Burlington LNG................... Burlington, NJ 773,000 Camden LPG....................... Camden, NJ 280,000 Central LPG...................... Edison Twp., NJ 960,000 Harrison LPG..................... Harrison, NJ 960,000 --------- Total.......................... 2,973,000 =========
As of December 31, 2001, PSE&G owned and operated approximately 16,888 miles of gas mains, owned 11 gas distribution headquarters and 2 sub headquarters all in 2 operating regions located in New Jersey and owned one meter shop in New Jersey serving all such areas. In addition, PSE&G operated 61 natural gas metering or regulating stations, all located in New Jersey, of which 28 were located on land owned by customers or natural gas pipeline companies supplying PSE&G with natural gas and were operated under lease, easement or other similar arrangement. In some instances, the pipeline companies owned portions of the metering and regulating facilities. 3. The following information is for the last calendar year with respect to claimant and each of its subsidiary public utility companies: (a) Number of kwh. (megawatt (Mwh.) = 1,000 kilowatts) of electric energy sold (at retail or wholesale), and Mcf. of natural or manufactured gas distributed at retail. PSEG - None. PSE&G - 41,473,741 Mwh. (retail and wholesale) sold primarily in the state of New Jersey providing revenue of approximately $3,709 million in 2001. PSE&G - 374,170,928 Mcf. (2001 basis of 1,035 BTU/cubic foot) sold in the state of New Jersey providing revenue of approximately $2,171 million in 2001. (b) Number of kwh. of electric energy and Mcf. of natural or manufactured gas distributed at retail outside the State in which each such company is organized. PSEG - None. PSE&G - None. 49 (c) Number of Mwh. of electric energy and Mcf. of natural or manufactured gas sold at wholesale outside the State in which each such company is organized, or at the State line. PSEG - None. PSE&G - None. PSE&G - 40,886,078 Mcf. total off-system sales sold in the states of New Jersey (at N.J. City-Gate), New York, Pennsylvania, Maryland, South Carolina, Ohio, Washington D.C., Virginia, North Carolina, Georgia, Texas, Mississippi and Louisiana providing revenue of approximately $207 million in 2001. (d) Number of Mwh. of electric energy and Mcf. of natural or manufactured gas purchased outside the state in which each such company is organized or at the state line. PSEG - None. PSE&G - None. PSE&G - 322,158,613 Mcf. received through sales and transportation agreements with interstate pipelines having delivery points within the State from the states of New Jersey, New York, Pennsylvania, Ohio, Texas, Louisiana and Mississippi at a cost of approximately $1,774 million in 2001. 50 4. The following information for the reporting period with respect to claimant and each interest it holds directly or indirectly in an EWG or a foreign utility company, stating monetary amounts in United States dollars: (a) Name, location, business address and description of the facilities used by the EWG or foreign utility company for the generation, transmission and distribution of electric energy for sale or the distribution at retail of natural or manufactured gas. (i) PSEG Bhilai Energy Company Ltd. (BHILAI), a Mauritius company, has its registered office at 608 St. James Court, St. Denis Street, Port Louis, Mauritius. BHILAI has a 45% interest in Bhilai Power Supply Company Limited, which will construct and own a 587 MW coal-fired power plant in Malhya Pradish, India. BHILAI is a direct wholly-owned subsidiary of PSEG (Bermuda) Holdings II Ltd. (ii) Central Termica San Nicolas, S.A. (CTSN), an Argentine corporation, has its principal executive offices at Cerrito 1294, Piso 3, (1062), Buenos Aires (Capital Federal), Argentina. CTSN owns and operates a coal, petroleum coke, natural gas and oil-fired electric power generating facility located at San Nicolas, Argentina. CTSN is an indirectly owned subsidiary of CEMAS Corporation. (iii) China U.S. Power Partners I, Ltd. (CUPPI), a Bermuda limited liability company, has its registered office at Clarendon House, 2 Church Street, Hamilton, Bermuda. CUPPI has a 30% interest in Jingyuan Second Power Co., Ltd. (Jingyuan), which owns a coal-fired electric power generation facility in Jingyuan, China. PSEG China indirectly owns 15% of Jingyuan. (iv) PSEG Zuojiang Hydropower Ltd. (ZHL), a Mauritius company, has its registered office at 608 St. James Court, St. Denis Street, Port Louis, Mauritius. ZHL has a direct 60% interest in Guangxi Zuojiang Meiya Hydropower Co. Ltd. (GZMHCL), which owns a hydroelectric power facility in Zuojiang, Guangxi Zhuang Nationality Autonomous Region, China. PSEG China indirectly owns 30% of GZMHCL. (v) PSEG Tongzhou Cogen Power Ltd. (TMC), a Bermuda limited liability company, has its principal executive offices at Clarendon House, 2 Church Street, Hamilton, Bermuda. TMC owns an 80% interest in Tongzhou Meiya Cogeneration Company Limited (TMCC), which owns a 51 coal-fired cogeneration facility in Tongzhou City, Jiangsu Province, China. PSEG China indirectly owns 40% of TMCC. (vi) Rio Grande Energia, S.A.,(RGE), formerly Companhia Norte-Nordeste de Distribuicao de Energia Eletrica, a Brazilian company, has its registered office at Rua da Consolacao #247, 8th Floor, Room 12, Sao Paulo, Brazil 01301903. RGE is an electric distribution company serving the State of Rio Grande do Sul, Brazil. RGE is 32.62% owned by Ipe Energia S.A., a Brazilian company, which is owned 50% each by PSEG Brazil Company and PSEG Brazil I Company, both Cayman companies, which in turn are wholly-owned by Pampa Energia Ltda. (vii) Empresa Distribuidora de Energia Norte S.A. (EDEN), an Argentine company, has its principal executive offices at Calle 48, numero 786, La Plata, Argentina. EDEN owns a distribution facility in the province of Buenos Aires, Argentina. EDEN is a direct 33.34% owned subsidiary of PSEG OA, which in turn is 99.99% owned by PSEGAOC, a Cayman company and 0.01% owned by CEMAS Corporation. PSEGAOC is in turn 90% owned by PSEG Americas Ltd., a Bermuda limited liability company. PSEG Americas Ltd. is a wholly-owned subsidiary of PSEG Global International Holdings LLC. (viii) Empresa Distribuidora de Energia Sur S.A. (EDES), an Argentine company, has its principal executive offices at Calle 48, numero 786, La Plata, Argentina. EDES owns a distribution facility in the province of Buenos Aires, Argentina. EDES is a direct 33.34% owned subsidiary of PSEG OA, which in turn is 99.99% owned by PSEGAOC, a Cayman company and 0.01% owned by CEMAS Corporation. PSEGAOC is in turn 90% owned by PSEG Americas Ltd., a Bermuda limited liability company. PSEG Americas Ltd. is a wholly-owned subsidiary of PSEG Global International Holdings LLC. (ix) Turbogeneradores Maracay, C.A. (TGM), a Venezuela company, has its principal offices located at Avenida Francisco de Miranda, Piso 12, Torre Country Club, Chacaito, and Caracas, Venezuela. TGM owns and operates two nominal 20 MW simple-cycle gas turbine generators at the paper mill facilities of Manufacturas de Papel C.A. in Maracay, Venezuela. TGM is a direct 52 17.13% owned subsidiary of Turbogeneradores de Venezuela, C.A., (TGV). TGV is a direct 50% owned subsidiary of PSEG Americas II, Ltd. (x) Empresa Distribuidora La Plata Sociedad Anonima (EDELAP), an Argentine Sociedad Anonima, with its executive offices in Buenos Aires, Argentina. The principal purpose of EDELAP is to offer services of distribution and commercialization of electricity in accordance with the terms of the Concession Contract. 51% of EDELAP Class A stock is directly owned by COINELEC (described above), 31.942% of EDELAP Class B shares is directly owned by Luz de la Plata S.A. and an additional 7.058% of EDELAP Class B Shares are directly owned by Camille Ltd. (described above). (xi) Turboven Cagua Company Inc. (CAGUA), a Cayman Islands company has its registered office at c/o Trident Trust Company (Cayman) Limited, Fourth Floor, One Capital Place, P. O. Box 847, Grand Cayman, Cayman Islands, British West Indies, is a FUCO, and was formed for the purpose of making a future investment in Latin America. (xii) Turboven Maracay Company Inc. (MARACAY), a Cayman Islands company has its registered office at c/o Trident Trust Company (Cayman) Limited, Fourth Floor, One Capital Place, P. O. Box 847, Grand Cayman, Cayman Islands, British West Indies, is a FUCO, and was formed for the purpose of making a future investment in Latin America. (xiii) Turboven Valencia Company Inc. (VALENCIA), a Cayman Islands company has its registered office at c/o Trident Trust Company (Cayman) Limited, Fourth Floor, One Capital Place, P. O. Box 847, Grand Cayman, Cayman Islands, British West Indies, is a FUCO, and was formed for the purpose of making a future investment in Latin America. (xiv) PSEG PPN Energy Company Ltd. (PPN Energy), a Mauritius company, has its registered office at 608 St. James Court, St. Denis Street, Port Louis, Mauritius and was formed for the purpose of investing in power facilities in Kerala, India. PSEG PPN Energy Company Ltd. has a 20% ownership interest in PPN Power Generating Company Limited. (xv) PSEG PPN Operations Private Ltd. (PPN Operations), an Indian company, has its registered office at "Prince Towers", 53 Floor 9, 25-26, College Road, Chennai, India 600006, is an EWG and was formed for the purpose of providing operations and maintenance services to power facilities in India. (xvi) Carthage Power Company Sarl (Tunisia), a Tunisian company, was formed for the purpose of developing, constructing, owning and operating a 471 MW combined-cycle power generation facility in Rades, Tunisia. (xvii) Tri-Sakthi Energy Private Limited (TSEPL), an Indian company, has its registered office at No, 7 "Mamatha Complex" II Floor, 1`3 Whites Road, Chennai, India 600014, and was formed for the purpose of investing in power facilities in India. PSEG North Chennai Ltd. and Tri-Sakthi Investments Limited each own a 50% interest in TSEPL. (xviii) Guadalupe Power Partners, LP (Guadalupe), has its registered office at 1209 Orange Street, Wilmington, Delaware 19801, and was formed for making future investments in Texas. PSEG Texgen I and II together own 50% of Texas Independent Energy, L.P., which owns 100% of Guadalupe Power I, LLC and Guadalupe Power II, LLC. (xix) Archer Power Partners, LP (Archer), has its registered office at 1209 Orange Street, Wilmington, Delaware 19801, and was formed for making future investments in Texas. PSEG Texgen I and II together own 50% of Texas Independent Energy, L.P., which owns 100% of Archer Power I, LLC and Archer Power II, LLC. (xx) Odessa-Ector Power Partners, LP (Odessa), has its registered office at 1209 Orange Street, Wilmington, Delaware 19801, and was formed for making future investments in Texas. PSEG Texgen I and II together own 50% of Texas Independent Energy, L.P., which owns 100% of Odessa-Ector Power I, LLC and Odessa-Ector Power II, LLC. (xxi) Chilquinta Energia S.A. (Chilquinta), a Chilean company, has its principal executive offices at General Cruz No. 222, Valparaiso, Chile, and was formed for the purpose of making investments in Chile and Peru. Inversiones Sempra-PSEG Chile S.A. holds a 99.98% interest in Chilquinta. 54 (xxii) Luz del Sur S.A.A. (Luz del Sur), a Peruvian company, has its principal executive offices at Canaval y Moreyra 380, Piso 18, San Isidro Lima Peru, and is a FUCO and an electric distribution company serving southern Lima, Peru. A 61.16% interest in Luz del Sur is directly owned by Ontario Quinta A.V.V. Peruvian Opportunity S.A.C. holds a direct interest of 22.89% in Luz del Sur and Energy Business International A.V.V. owns 3.83%. (xxiii) AES Parana Operations SRL (AES Parana), an Argentine company, has registered office in Buenos Aires, Argentina, and will provide maintenance and operations services to the project being constructed by AES Parana. AES Parana is 33.26% owned by PSEG Cayman Americas V Company and was formed for the purpose of making investments in Argentina. (xxiv) PSEG Fossil LLC (Fossil), a Delaware limited liability company, has its principal executive offices at 80 Park Plaza, Newark, New Jersey 07102. Fossil, a wholly-owned subsidiary of Power, is an EWG, and was formed to operate the fossil fueled electric generation assets of PSE&G which were transferred to Power during 2000. (xxv) PSEG Nuclear LLC (Nuclear), a Delaware limited liability company, has its principal executive offices at 80 Park Plaza, Newark, New Jersey 07102. Nuclear, a wholly-owned subsidiary of Power, is an EWG, and was formed to operate the nuclear fueled electric generation assets of PSE&G which were transferred to Power during 2000. (xxvi) PSEG Chorzow B.V., a Netherlands Company, has its principal executive offices at Weena 340, Rotterdam, and was formed for the purpose of holding shares in Electrocieplownia Chorzow Elcho Sp.z.o.o. of which it currently holds 55.34%. (xxvii) PSEG Rongjiang Hydropower Ltd., a Mauritius company, has its registered office at 608 St. James Court, St. Denis Street, Port Louis, Mauritius, and was formed for the purpose of investing in power facilities in China. PSEG China indirectly owns 50% interest in PSEG Rongjiang Hydrowpower Ltd. 55 (xxviii) Kalaeloa Partners, LP, a Delaware limited partnership, has its registered office at 1209 Orange Street, Wilmington, Delaware 19801, and it owns a heavy oil-fired cogeneration QF on the Island of Oahu in Hawaii. (xxix) Meiya Electric Asia, Ltd., a Mauritius company, has its registered office at 608 St. James Court, St. Denis Street, Port Louis, Mauritius and owns a 92% interest in Nantong Meiya Cogeneration Co. Ltd., (Nantong), which owns a coal-fired cogeneration facility in Nantong, Jiangsu Province, China. PSEG China indirectly owns 46% of Nantong. (xxx) Shanghai Wei-Gang Energy Company Ltd., a Chinese joint venture company, has its registered office at 735 Changjiang Road, Shanghai, China 200431, and owns and operates a blast furnace gas-fired electric power generation facility in Shanghai, China which has FUCO status. PSEG China indirectly owns 16.25% of this company. (xxxi) PSEG Power New York. Inc. (Power New York), a Delaware corporation, has its principal executive offices at Route 144 Glen Mount, Albany, New York 12077. Power New York, a wholly-owned subsidiary of Fossil, was formed to acquire electric generation assets located in the state of New York. (xxxii) GWF Energy LLC, a Delaware limited liability company, has its registered office at 1209 Orange Street, Wilmington, Delaware 19801, and was formed for the purpose of investing in North America. (xxxiii) Biomass Italia S.p.A., an Italian company, has its registered office at Via Sant Andrea 19, Milan, Italy and was formed for the purpose of investing in power facilities in Italy. (xxxiv) Tanir Bavi Power Company Private Limited, an Indian company, has its registered offices in India, and was formed for the purpose of investing in power facilities in India. (xxxv) Texas Independent Energy Operating Company, LLC, a Delaware company, has its registered office at 1209 Orange Street, Wilmington, Delaware 19801, and was formed for the purpose of investing in Texas. 56 (xxxvi) Empresa Distribuidora de Electricidad de Entre Rios S.A., an Argentine company, has its registered office in Argentina and was formed for the purpose of investing in Latin America. (xxxvii) AES Parana S.C.A., an Argentine company, has registered office in Buenos Aires, Argentina, and was formed for the purpose of making investments in Argentina. AES Parana S.C.A. is owned 33% by PSEG Cayman Americas V Company. (xxxviii) Danskammer OP LLC (Danskammer OP), a Delaware limited liability company, has its principal executive offices at 80 Park Plaza, Newark, New Jersey 07102. Danskammer OP, an indirect wholly-owned subsidiary of RCMC, was formed for the purpose of investing in power facilities in the State of New York. (xxxix) Danskammer OL LLC (Danskammer OL), a Delaware limited liability company, has its principal executive offices at 80 Park Plaza, Newark, New Jersey 07102. Danskammer OL, an indirect wholly-owned subsidiary of RCMC, was formed for the purpose of investing in power facilities in the State of New York. (xl) Roseton OP LLC (Roseton OP), a Delaware limited liability company, has its principal executive offices at 80 Park Plaza, Newark, New Jersey 07102. Roseton OP, an indirect wholly-owned subsidiary of RCMC, was formed for the purpose of investing in power facilities in the State of New York. (xli) Roseton OL LLC (Roseton OL), a Delaware limited liability company, has its principal executive offices at 80 Park Plaza, Newark, New Jersey 07102. Roseton OL, an indirect wholly-owned subsidiary of RCMC, was formed for the purpose of investing in power facilities in the State of New York. (xlii) Conemaugh Lessor Genco LLC (Conemaugh Lessor), a Delaware limited liability company, has its principal executive offices at 80 Park Plaza, Newark, New Jersey 07102. Conemaugh Lessor, an indirect wholly-owned subsidiary of PSEG Resources, was formed for the purpose 57 of investing in power facilities in the Commonwealth of Pennsylvania. (xliii) Keystone Lessor Genco LLC (Keystone Lessor), a Delaware limited liability company, has its principal executive offices at 80 Park Plaza, Newark, New Jersey 07102. Keystone Lessor, an indirect wholly-owned subsidiary of PSEG Resources, was formed for the purpose of investing in power facilities in the Commonwealth of Pennsylvania. (xliv) Shawville Lessor Genco LLC (Shawville Lessor), a Delaware limited liability company, has its principal executive offices at 80 Park Plaza, Newark, New Jersey 07102. Shawville Lessor, an indirect wholly-owned subsidiary of PSEG Resources, was formed for the purpose of investing in power facilities in the Commonwealth of Pennsylvania. (xlv) Magellan Capital Holdings Corporation (Magellan), a Philippine company, has its offices at 4/F Ortigas Bldg., Ortigas Avenue, Pasig City, Philippines, was formed for the purpose of investing in power facilities in the Philippines. (xlvi) PSEG Lawrenceburg Energy Company LLC (Lawrenceburg), a Delaware limited liability company, has its registered office at 1209 Orange Street, Wilmington, Delaware 19801 and was formed for the purpose of investing in a power facility in Lawrenceburg, Indiana. This company is wholly-owned by Fossil. (xlvii) PSEG Waterford Energy Company LLC (Waterford), a Delaware limited liability company, has its registered office at 1209 Orange Street, Wilmington, Delaware 19801 and was formed for the purpose of investing in a power facility in Waterford, Ohio. This company is wholly-owned by Fossil. (b) Name of each system company that holds an interest in such EWG or foreign utility company; and description of the interest held. See Exhibit C attached hereto and Items 1 and 4(a) above. (c) Type and amount of capital invested, directly or indirectly, by the holding company claiming exemption; any direct or indirect guarantee of the security of the EWG or foreign utility company by the holding company claiming exemption; and any debt or other financial obligation for which there is recourse, directly or indirectly, to the holding company claiming exemption or another system company, other than the EWG or foreign utility company. (i) BHILAI As of December 31, 2001, PSEG has an indirect aggregate capital investment in BHILAI of U.S. $0. (ii)CTSN As of December 31, 2001, PSEG has reclassified its indirect investment in CTSN of U.S. $27,795,014 all of which is equity into the Asset Held for Sale category. (iii)CUPPI 58 As of December 31, 2001, PSEG has an indirect aggregate capital investment in CUPPI of U.S. $30,247,080 all of which is equity. (iv) ZHL As of December 31, 2001, PSEG has an indirect aggregate capital investment in ZHL of U.S. $19,652,237 all of which is equity. (v) TMC As of December 31, 2001, PSEG has an indirect aggregate capital investment in TMC of U.S. $6,008,242 all of which is equity. (vi) RGE As of December 31, 2001, PSEG has an indirect aggregate capital investment in RGE of U.S. $277,382,984 all of which is equity. (vii) EDEN As of December 31, 2001, PSEG has reclassified its indirect investment into EDEN of U.S. $155,483,988, of which U.S. $148,441,580 is equity and U.S. $0 is debt into the Asset Held for Sale category. (viii) EDES As of December 31, 2001, PSEG has reclassified its indirect investment into EDES of U.S. $65,077,645 of which U.S. $62,130,053 is equity and U.S. $0 is debt into the Asset Hold for Sale category. (ix) TGM As of December 31, 2001, PSEG has an indirect capital investment in TGM of U.S. $1,844,199 all of which is equity. PSEG and its subsidiaries (direct and indirect) have no other security guarantees, debt or other financial obligations relative to TGM. (x) EDELAP As of December 31, 2001, PSEG has reclassified its indirect investment into EDELAP of U.S. $101,148,413 all of which is equity into the Asset Held for Sale category. 59 (xi) CAGUA Turboven Company Inc., a Cayman company, is the 100% direct parent of CAGUA. PSEG has a 50% indirect interest in Turboven Company, Inc. As of December 31, 2001, PSEG has an indirect capital investment in Turboven Company Inc. of U.S. $51,452,718. (xii) MARACAY Turboven Company Inc., a Cayman company, is the 100% direct parent of MARACAY. PSEG has a 50% indirect interest in Turboven Company, Inc. As of December 31, 2001, PSEG has an indirect capital investment in Turboven Company Inc. of U.S. $51,452,718. (xiii) VALENCIA Turboven Company Inc., a Cayman company, is the 100% direct parent of VALENCIA. PSEG has a 50% indirect interest in Turboven Company, Inc. As of December 31, 2001, PSEG has an indirect capital investment in Turboven Company Inc. of U.S. $51,452,718. (xiv) PPN Energy As of December 31, 2001, PSEG has an indirect capital investment in PPN Energy of U.S. $23,062,871 all of which is equity. (xv) PPN Operations As of December 31, 2001, PSEG has an indirect capital investment in PPN Operations of U.S. $2,283,900. (xvi) Carthage As of December 31, 2001, PSEG has an indirect capital investment in Carthage of U.S. $39,982,040. (xvii) Tri-Sakthi As of December 31, 2001, PSEG has an indirect capital investment in Tri-Sakthi of U.S. $0. (xviii) Guadalupe Power Partners Texas Independent Energy L.P. is the 100% indirect parent of Guadalupe Power Partners. PSEG has a 50% indirect interest in Texas Independent Energy. As of December 31, 2001, PSEG has an indirect capital investment in Texas Independent Energy L.P. of U.S. $284,404,733, of which 60 U.S. $117,359,639 is equity and U.S. $164,045,094 is partnership advances. (xix) Archer Power Partners Texas Independent Energy L.P. is the 100% indirect parent of Archer Power Partners. PSEG has a 50% indirect interest in Texas Independent Energy. As of December 31, 2001, PSEG has an indirect capital investment in Texas Independent Energy L.P. of U.S. $284,404,733, of which U.S. $117,359,639 is equity and U.S. $164,045,094 is partnership advances. (xx) Odessa Power Partners Texas Independent Energy L.P. is the 100% indirect parent of Odessa Power Partners. PSEG has a 50% indirect interest in Texas Independent Energy. As of December 31, 2001, PSEG has an indirect capital investment in Texas Independent Energy L.P. of U.S. $284,404,733, of which U.S. $117,359,639 is equity and U.S. $164,045,094 is partnership advances. (xxi) Chilquinta As of December 31, 2001, PSEG has an indirect capital investment in Chilquinta of U.S. $384,553,674, of which U.S. $224,553,674 is equity and U.S. $0 is debt (including interest). (xxii) Luz del Sur As of December 31, 2001, PSEG has an indirect capital investment in Luz del Sur of U.S. $122,224,420. (xxiii) AES Parana As of December 31, 2001, PSEG has an indirect capital investment in AES Parana of U.S. $0. (xxiv) Fossil As of December 31, 2001, PSEG has an indirect capital investment in Fossil of U.S. $299,337,096, all of which is equity. (xxv) Nuclear 61 As of December 31, 2001, PSEG has an indirect capital investment in Nuclear of U.S. $170,506,714, all of which is equity. (xxvi) PSEG Chorzow B.V. As of December 31, 2001, PSEG has an indirect capital investment in PSEG Chorzow B.V. of U.S. $13,873,665 all of which is equity. (xxvii) PSEG Rongjiang As of December 31, 2001, PSEG has an indirect capital investment in PSEG Rongjiang of U.S. $9,795,813 all of which is equity. (xxviii) Kalaeloa Partners, LP As of December 31, 2001, PSEG has an indirect capital investment in Kalaeloa Partners LP of U.S. $26,170,684 all of which is equity. (xxix) Meiya Electric Asia Ltd. As of December 31, 2001, PSEG has an indirect capital investment in Meiya Electric Asia Ltd. of U.S. $2,035,630 all of which is equity. (xxx) Shanghai Wei-Gang Energy Company Ltd. As of December 31, 2001, PSEG has an indirect capital investment in Shanghai Wei-Gang Energy Company Ltd. of U.S. $7,129,687 all of which is equity. (xxxi) Power New York As of December 31, 2001, PSEG has an indirect capital investment in Power New York of U.S. ($1,502,366) all of which is equity. (xxxii) GWF Energy LLC As of December 31, 2001, PSEG has an indirect capital investment in GWF Energy LLC of U.S. $32,557,688 all of which is equity. (xxxiii)Biomass Italia S.p.A. Prisma 2000 S.p.A. is the 50% indirect parent of Biomass Italia S.p.A. PSEG has a 50% indirect interest in Prisma 2000 S.p.A. As of December 31, 2001, PSEG has an indirect capital investment in Prisma 2000 S.p.A. of U.S. $21,675,238 is equity, and U.S. $46,395,053 is joint venture advances. (xxxiv) Tanir Bavi Power Company Private Limited. As of December 31, 2001, PSEG has an indirect capital investment in Tanir Bavi Power Company Private Limited of U.S. $57,525,122 all of which is equity. (xxxv) Texas Independent Energy Operating Company. Texas Independent Energy L.P. is the 100% indirect parent of Texas Independent Energy Operating Company. PSEG has a 50% indirect interest in Texas Independent Energy. As of December 31, 2001, PSEG has an indirect capital investment in Texas Independent Energy L.P. of U.S. $284,404,733, of which U.S. $117,359,639 is equity and U.S. $164,045,094 is partnership advances. (xxxvi) Empresa Distribuidora Electricidad de Entre Rios S.A. As of December 31, 2001, PSEG has an indirect capital investment in Empresa Distribuidora de Electricidad de Entre Rios S.A. of U.S. $212,256,214 all of which is equity. (xxxvii)AES Parana S.C.A. As of December 31, 2001 PSEG has reclassified it's indirect investment into AES Parana S.C.A. of U.S. $24,840,780 all of which is equity into the asset held for sale category. (xxxviii)Danskammer OP As of December 31, 2001, PSEG has an indirect capital investment in Danskammer OP of U.S. $49,567,961 all of which is equity. (xxxix) Danskammer OL As of December 31, 2001, PSEG has an indirect capital investment in Danskammer OL of U.S. $49,567,961 all of which is equity. (xl) Roseton OP 62 As of December 31, 2001, PSEG has an indirect capital investment in Roseton OP of U.S. $102,410,475 all of which is equity. (xli) Roseton OL As of December PSEG has an indirect capital investment in Roseton OL of U.S. $102,410,475 all of which is equity. (xlii) Conemaugh Lessor As of December PSEG has an indirect capital investment in Conemaugh Lessor of U.S. $65,709,431 of which U.S. $6,802,429 is equity and U.S. $58,907,002 is debt (including interest). (xliii) Keystone Lessor As of December PSEG has an indirect capital investment in Keystone Lessor of U.S. $65,481,825 of which U.S. $6,774,420 is equity and U.S. $58,707,405 is debt (including interest). (xliv) Shawville Lessor As of December PSEG has an indirect capital investment in Shawville Lessor of U.S. $70,834,220 of which U.S. $7,344,890 is equity and U.S. $64,489,330 is debt (including interest). (xlv) Magellan Capital Holdings Corporation As of December 31, 2001, PSEG has an indirect capital investment in Magellan Capital Holdings Corporation of U.S. $3,100,018 all of which is equity. (xlvi) Lawrenceburg As of December 31, 2001, PSEG has an indirect capital investment in Lawrenceburg of U.S. $0. (xlvii) Waterford As of December 31, 2001, PSEG has an indirect capital investment in Waterford of U.S. $0. (d) Capitalization and earnings of the EWG or foreign utility company during the reporting period. (i) BHILAI ---------- 12/31/01 $ U.S. ------ Capitalization $0 ============== Net Income $0 ============== 63 (ii) CTSN --------- 12/31/01 $ U.S. ------ Capitalization $0 Net Income $6,971,470 (iii) CUPPI ----------- 12/31/01 $ U.S. ------ Assets Current Assets $19,170 Non-current Assets 56,598,428 -------------- Total Assets $56,617,598 ============== Liabilities Current Liabilities $0 Non-current Liabilities 7,352,324 -------------- Total Liabilities 7,352,324 Equity 49.265,274 -------------- Total Liabilities and Equity $56,617,598 ============== Net Income for Year-Ended $5,980,759 12/31/01 64 (iv) ZHL -------- 12/31/01 $ U.S. ------ Assets Current Assets $8,937,807 Non-current Assets 52,939,495 -------------- Total Assets $61,877,302 ============== Liabilities Current Liabilities $16,676,464 Non-current Liabilities 12,068 -------------- Total Liabilities 16,688,532 Equity 45,188,770 -------------- Total Liabilities and Equity $61,877,302 ============== Net Income for Year-Ended $3,300,456 12/31/01 (v) TMC ------- 12/31/01 $ U.S. ------ Assets Current Assets $2,868,753 Non-current Assets 24,805,988 -------------- Total Assets $27,674,741 ============== Liabilities Current Liabilities $3,117,477 Non-current Liabilities 12,767,493 -------------- Total Liabilities 15,884,970 Equity 11,789,771 -------------- Total Liabilities and Equity $27,674,741 ============== Net Income for Year-Ended $290,257 12/31/01 65 (vi) RGE -------- 12/31/01 $ U.S. ------ Assets Current Assets $116,114,685 Non-current Assets 974,815,717 --------------- Total Assets $1,090,930,402 =============== Liabilities Current Liabilities $251,777,443 Non-current Liabilities 274,610,504 --------------- Total Liabilities 526,387,947 Equity 564,542,455 --------------- Total Liabilities and Equity $1,090,930,402 =============== Net Income for Year-Ended $39,132,318 12/31/01 66 (vi) RGE -------- 12/31/01 (vii) EDEN ---------- 12/31/01 $ U.S. ------ Capitalization $0 Net Income $7,938,560 67 (viii) EDES ----------- 12/31/01 $ U.S. ------ Capitalization $0 Net Income $4,191,600 (ix) TGM -------- 12/31/01 $ U.S. ------ Assets Current Assets $6,407,673 Non-current Assets 14,327,860 -------------- Total Assets $20,735,533 ============== Liabilities Current Liabilities $6,537,716 Non-current Liabilities 3,001,319 -------------- Total Liabilities 9,539,036 Equity 11,196,497 -------------- Total Liabilities and Equity $20,735,533 ============== Net Income for Year-Ended $1,604,546 12/31/01 68 (x) EDELAP ---------- 12/31/01 $ U.S. ------ Capitalization $0 Net Income $5,842,480 (xi) CAGUA ---------- 12/31/01 $ U.S. ------ Assets Current Assets $6,779,219 Non-current Assets 40,596,899 -------------- Total Assets $47,376,118 ============== Liabilities Current Liabilities $17,361,667 Non-current Liabilities 81,372 -------------- Total Liabilities 17,443,039 Equity 29,932,181 -------------- Total Liabilities and Equity $47,376,118 ============== Net Income for Year-Ended $1,086,315 12/31/01 69 (xii) MARACAY ------------- 12/31/01 $ U.S. ------ Assets Current Assets $5,582,084 Non-current Assets 38,298,092 -------------- Total Assets $43,880,176 ============== Liabilities Current Liabilities $9,557,302 Non-current Liabilities 4,332,406 -------------- Total Liabilities 13,889,708 Equity 29,990,467 -------------- Total Liabilities and Equity $43,880,176 ============== Net Income for Year-Ended $1,845,299 12/31/01 (xiii) VALENCIA --------------- 12/31/01 $ U.S. ------ Assets Current Assets $49,364 Non-current Assets 2,769,121 -------------- Total Assets $2,818,485 ============== Liabilities Current Liabilities $1,676,250 Non-current Liabilities -------------- Total Liabilities 1,676,250 Equity 1,142,235 -------------- Total Liabilities and Equity $2,818,485 ============== Net Income for Year-Ended $80,463 12/31/01 70 (xiv) PPN Energy ---------------- 12/31/01 $ U.S. ------ Assets Current Assets $37,996 Non-current Assets 29,094,874 -------------- Total Assets $29,132,870 ============== Liabilities Current Liabilities $6,069,999 Non-current Liabilities 0 -------------- Total Liabilities 6,069,999 Equity 23,062,871 -------------- Total Liabilities and Equity $29,132,870 ============== Net Income for Year-Ended $3,159,336 12/31/01 (xv) PPN Operations ------------------- 12/31/01 $ U.S. ------ Assets Current Assets $2,399,914 Non-current Assets 0 -------------- Total Assets $2,399,914 Liabilities Current Liabilities $109,166 Non-current Liabilities 6,848 -------------- Total Liabilities 116,014 Equity 2,283,900 -------------- Total Liabilities and Equity $2,399,914 Net Income for Year-Ended $(5,700) 12/31/01 71 (xvi) Carthage -------------- 12/31/01 $ U.S. ------ Assets Current Assets $5,728,646 Non-current Assets 189,849,185 -------------- Total Assets $195,577,831 Liabilities Current Liabilities 3,142,795 Non-current Liabilities 149,776,245 -------------- Total Liabilities 152,919,040 Equity 42,658,791 -------------- Total Liabilities and Equity $195,577,831 Net Income for Year-Ended $0 12/31/01 (xvii) Tri-Sakthi ----------------- 12/31/01 $ U.S. ------ Capitalization $0 ============== Net Income $0 ============== (xviii) Guadalupe ----------------- 12/31/01 $ U.S. ------ Assets Current Assets $14,062,000 Non-current Assets 405,739,000 -------------- Total Assets $719,801,000 Liabilities Current Liabilities $8,504,000 Non-current Liabilities 246,724,000 -------------- Total Liabilities $255,228,000 Equity 164,573,000 -------------- Total Liabilities and Equity $719,801,000 Net Income for Year-Ended $14,570,154 12/31/01 72 (xix) Archer ------------ 12/31/01 $ U.S. ------ Capitalization $0 Net Income for Year-Ended $(1,052,096) 12/31/01 (xx) Odessa-Ector ----------------- 12/31/01 $ U.S. ------ Assets Current Assets $4,635,000 Non-current Assets 431,710,000 -------------- Total Assets $436,345,000 Liabilities Current Liabilities $15,265,000 Non-current Liabilities 256,930,000 -------------- Total Liabilities $272,195,000 Equity 164,150,000 -------------- Total Liabilities and Equity $436,345,000 Net Income for Year-Ended $(7,720,762) 12/31/01 73 (xxi) Chilquinta ---------------- 12/31/01 $ U.S. ------ Assets Current Assets $31,609,367 Non-current Assets 831,839,559 --------------- Total Assets $863,448,926 Liabilities Current Liabilities $43,515,326 Non-current Liabilities 373,402,734 --------------- Total Liabilities 416,918,060 Equity 446,530,866 --------------- Total Liabilities and Equity $863,448,926 Net Income for Year-Ended $40,669,417 12/31/01 (xxii) Luz del Sur ------------------ 12/31/01 $ U.S. ------ Assets Current Assets $62,640,465 Non-current Assets 458,462,927 -------------- Total Assets $521,103,392 Liabilities Current Liabilities $64,546,646 Non-current Liabilities 193,098,793 -------------- Total Liabilities 257,645,439 Equity 263,457,953 -------------- Total Liabilities and Equity $521,103,392 Net Income for Year-Ended $63,027,954 12/31/01 74 (xxiii) AES Parana SCA ---------------------- 12/31/01 $ U.S. ------ Capitalization $0 Net Income for Year-Ended $0 12/31/01 (xxiv) Fossil ------------- 12/31/01 $ U.S. ------ Assets Current Assets $54,555,262 Non-current Assets 2,603,970,317 --------------- Total Assets $2,658,525,579 =============== Liabilities Current Liabilities $586,455,281 Non-current Liabilities 1,772,733,202 --------------- Total Liabilities 2,359,188,483 Equity 299,337,096 --------------- Total Liabilities and Equity $2,658,525,579 =============== Net Income for Year-Ended $197,249,799 12/31/01 75 (xxv) Nuclear ------------- 12/31/01 $ U.S. ------ Assets Current Assets $103,233,433 Non-current Assets 1,108,667,934 --------------- Total Assets $1,211,901,367 =============== Liabilities Current Liabilities $(114,113,975) Non-current Liabilities 1,155,508,628 --------------- Total Liabilities 1,041,394,653 Equity 170,506,714 --------------- Total Liabilities and Equity $1,211,901,367 =============== Net Income for Year-Ended $226,319,118 12/31/01 (xxvi) PSEG Chorzow B.V. ------------------------ 12/31/01 $ U.S. ------ Assets Current Assets $1,169,618 Non-current Assets 14,790,927 -------------- Total Assets 15,960,545 ============== Liabilities Current Liabilities $2,087,518 Non-current Liabilities (638) -------------- Total Liabilities 2,086,880 Equity 13,873,665 -------------- Total Liabilities and Equity $15,960,545 ============== Net Income for Year-Ended $(940,152) 12/31/01 76 (xxvii) PSEG Rongjiang ---------------------- 12/31/01 $ U.S. ------ Assets Current Assets $2,023,308 Non-current Assets 55,921,252 -------------- Total Assets $57,944,560 ============== Liabilities Current Liabilities $2,559,884 Non-current Liabilities 37,088,746 -------------- Total Liabilities $39,648,630 Equity 18,295,930 -------------- Total Liabilities and Equity $57,944,560 ============== Net Income for Year-Ended $1,659,620 12/31/01 (xxviii) Kalaeloa Partners LP ----------------------------- 12/31/01 $ U.S. ------ Assets Current Assets $17,911,962 Non-current Assets 215,119,611 -------------- Total Assets $233,031,573 ============== Liabilities Current Liabilities $14,831,156 Non-current Liabilities 172,805,352 -------------- Total Liabilities $187,636,508 Equity 45,395,065 -------------- Total Liabilities and Equity $233,031,573 ============== Net Income for Year-Ended $7,427,007 12/31/01 77 (xxix) Meiya Electric Asia Ltd ------------------------------ 12/31/01 $ U.S. ------ Assets Current Assets $5,355,460 Non-current Assets 36,586,649 -------------- Total Assets $41,942,109 ============== Liabilities Current Liabilities $13,502,995 Non-current Liabilities 18,041,584 -------------- Total Liabilities 31,544,579 Equity 10,397,530 -------------- Total Liabilities and Equity $41,942,109 ============== Net Income for Year-Ended $(1,507,418) 12/31/01 (xxx) Shanghai Wei-Gang Energy Co. Ltd -------------------------------------- 12/31/01 $ U.S. ------ Assets Current Assets $16,133,172 Non-current Assets 44,422,004 -------------- Total Assets $60,555,176 ============== Liabilities Current Liabilities $9,806,082 Non-current Liabilities 15,881,250 -------------- Total Liabilities 25,687,332 Equity 34,867,844 -------------- Total Liabilities and Equity $60,555,176 ============== Net Income for Year-Ended $6,708,845 12/31/01 78 (xxxi) Power New York --------------------- 12/31/01 $ U.S. ------ Assets Current Assets $13,596,711 Non-current Assets 69,290,875 -------------- Total Assets $82,887,586 ============== Liabilities Current Liabilities $67,893,031 Non-current Liabilities 16,496,921 -------------- Total Liabilities 84,389,952 Equity (1,502,366) -------------- Total Liabilities and Equity $82,887,586 ============== Net Income for Year-Ended $(11,405,711) 12/31/01 (xxxii) GWF Energy LLC ---------------------- 12/31/01 $ U.S. ------ Assets Current Assets $8,729,319 Non-current Assets 124,192,352 -------------- Total Assets $132,921,671 ============== Liabilities Current Liabilities $60,019,979 Non-current Liabilities 334,322 -------------- Total Liabilities 60,354,301 Equity 72,567,370 -------------- Total Liabilities and Equity $132,921,671 ============== Net Income for Year-Ended $13,311,608 12/31/01 (xxxiii) Biomass Italia S.p.A. ------------------------------ 12/31/01 Capitalization $ 0 Net Income for Year-Ended $ 0 12/31/01 (xxxiv) Tanir Bavi Power Company Private Limited ------------------------------------------------ 12/31/01 $ U.S. ------ Assets Current Assets $35,851,000 Non-current Assets 190,030,000 -------------- Total Assets $225,881,000 ============== Liabilities Current Liabilities $44,405,005 Non-current Liabilities 108,535,995 -------------- Total Liabilities 152,941,000 Equity 72,940,000 -------------- Total Liabilities and Equity $225,881,000 ============== Net Income for Year-Ended $12,658,600 12/31/01 (xxxv) Texas Independent Energy Operating Company ------------------------------------------------- 12/31/01 $ U.S. ------ Assets Current Assets $2,330,000 Non-current Assets 0 -------------- Total Assets $2,330,000 ============== Liabilities Current Liabilities $1,272,000 Non-current Liabilities 0 -------------- Total Liabilities $1,272,000 Equity 1,058,000 -------------- Total Liabilities and Equity $2,330,000 ============== Net Income for Year-Ended $(227) 12/31/01 (xxxvi) Empresa Distribuidora de Electricidad de Entre Rios S.A. Company ------------------------------------------------------------------------ 12/31/01 $ U.S. ------ Assets Current Assets $31,228,982 Non-current Assets 240,675,557 -------------- Total Assets 271,904,539 ============== Liabilities Current Liabilities $26,858,157 Non-current Liabilities 82,000,000 -------------- Total Liabilities $108,858,157 Equity 163,046,382 -------------- Total Liabilities and Equity $271,904,539 ============== Net Income for Year-Ended $9,528,319 12/31/01 (xxvii) AES Parana, S.C.A. -------------------------- 12/31/01 $ U.S. ------ Capitalization $0 Net Income for Year-Ended $0 12/31/01 (xxxviii) Danskammer OP ----------------------- 12/31/01 $ U.S. ------ Assets Current Assets $ - Non-current Assets 49,567,961 -------------- Total Assets $ 49,567,961 ============== Liabilities Current Liabilities $ - Non-current Liabilities $ - -------------- Total Liabilities Equity $ 49,567,961 -------------- Total Liabilities and Equity $ 49,567,961 ============== Net Income for Year-Ended 12/31/01 $ 3,817,961 79 (xxxix) Danskammer OL ---------------------- 12/31/01 $ U.S. ------ Assets Current Assets $ - Non-current Assets 49,567,961 -------------- Total Assets $49,567,961 ============== Liabilities Current Liabilities $ - Non-current Liabilities $ - -------------- Total Liabilities Equity $49,567,961 -------------- Total Liabilities and Equity $49,567,961 ============== Net Income for Year-Ended 12/31/01 $3,817,961 (xl) Roseton OP ------------------ 12/31/01 $ U.S. ------ Assets Current Assets $ - Non-current Assets $102,410,475 -------------- Total Assets $102,410,475 ============== Liabilities Current Liabilities $ - Non-current Liabilities $ - -------------- Total Liabilities Equity $102,410,475 -------------- Total Liabilities and Equity $102,410,475 ============== Net Income for Year-Ended 12/31/01 $ 7,860,475 80 (xli) Roseton OL ----------------- 12/31/01 $ U.S. ------ Assets Current Assets $ - Non-current Assets $102,410,475 -------------- Total Assets $102,410,475 ============== Liabilities Current Liabilities $ - Non-current Liabilities $ - -------------- Total Liabilities Equity $102,410,475 -------------- Total Liabilities and Equity $102,410,475 ============== Net Income for Year-Ended 12/31/01 $ 7,860,475 (xlii) Conemaugh Lessor Genco ------------------------------ 12/31/01 $ U.S. ------ Assets Current Assets $ 276,908 Non-current Assets 65,432,923 -------------- Total Assets $65,709,431 ============== Liabilities Current Liabilities $58,907,002 Non-current Liabilities $ - -------------- Total Liabilities $58,907,002 Equity $ 6,802,429 -------------- Total Liabilities and Equity $65,709,431 ============== Net Income for Year-Ended 12/31/01 $ 6,640,264 81 (xliii) Keystone Lessor Genco ------------------------------ 12/31/01 $ U.S. ------ Assets Current Assets $ 281,512 Non-current Assets 65,200,313 -------------- Total Assets $65,481,825 ============== Liabilities Current Liabilities $58,707,405 Non-current Liabilities $ 0 -------------- Total Liabilities $58,707,405 Equity $ 6,774,420 -------------- Total Liabilities and Equity $65,481,825 ============== Net Income for Year-Ended 12/31/01 $ 6,598,610 (xliv) Shawville Lessor Genco -------------------------------- 12/31/01 $ U.S. ------ Assets Current Assets $ 2,389,342 Non-current Assets 68,444,878 -------------- Total Assets $70,834,220 ============== Liabilities Current Liabilities $64,489,330 Non-current Liabilities $ 0 -------------- Total Liabilities $64,489,330 Equity $ 7,344,890 -------------- Total Liabilities and Equity $70,834,220 ============== Net Income for Year-Ended 12/31/01 $ 6,647,332 (xlv) Magellan -------------- 12/31/01 $ U.S. ------ Assets Current Assets $9,093,747 Non-current Assets 13,343,589 -------------- Total Assets $22,437,336 ============== Liabilities Current Liabilities $333,067 Non-current Liabilities 58,198 -------------- Total Liabilities $391,264 Equity 22,046,072 -------------- Total Liabilities and Equity $22,437,336 ============== Net Income for Year-Ended 12/31/01 $1,065,303 (xlvi) Lawrenceburg ------------------- 12/31/01 $ U.S. ------ Assets Current Assets $0 Non-current Assets 462,000,000 -------------- Total Assets $462,000,000 ============== Liabilities Current Liabilities $47,000,000 Non-current Liabilities 415,000,000 -------------- Total Liabilities $462,000,000 Equity $0 -------------- Total Liabilities and Equity $462,000,000 ============== Net Income for Year-Ended 12/31/01 $0 (xlvii) Waterford ----------------- 12/31/01 $ U.S. ------ Assets Current Assets $2,000,000 Non-current Assets 392,000,000 -------------- Total Assets $394,000,000 ============== Liabilities Current Liabilities $15,000,000 Non-current Liabilities 355,000,000 -------------- Total Liabilities 370,000,000 Equity $24,000,000 -------------- Total Liabilities and Equity $394,000,000 ============== Net Income for Year-Ended 12/31/01 $0 82 (e) Identify any service, sales or construction contract(s) between the EWG or foreign utility company and a system company, and describe the services to be rendered or goods sold and fees or revenues under such agreement(s). (i) BHILAI None. (ii) CTSN None. (iii) CUPPI None. (iv) ZHL None. (v) TMC None. (vi) RGE RGE has an Operators Agreement with IPE under which IPE provides certain support services to RGE in connection with electricity distribution. (vii) EDEN PSEGAOC has an Operators Agreement with EDEN under which PSEGAOC provides certain support services to EDEN in connection with electricity distribution. (viii) EDES PSEGAOC has an Operators Agreement with EDES under which PSEGAOC provides certain support services to EDES in connection with electricity distribution. (ix) TGM None. (x) EDELAP None. (xi) CAGUA None. (xii) MARACAY None. (xiii) VALENCIA None. 83 (xiv) PPN Energy None. (xv) PPN Operations PPN Operations has an Operation and Maintenance Agreement with PPN PGC to provide certain services in connection with mobilization, operation and maintenance of 330 MW combined cycle electric power generating facility of PPN PGC located in Pillaiperumalnallur in the state of Tamilnadu, India. Under said agreement, PPN Operations will receive a fee equal to fifteen percent (15%) of the non fuel and insurance related operating expenses of the said facility. (xvi) Carthage None. (xvii) TSEPL None. (xviii) Guadalupe None. (xix) Archer None. (xx) Odessa None. (xxi) Chilquinta None. (xxii) Luz del Sur None. (xxiii) AES Parana None. (xxiv) Fossil Fossil has a Service Agreement with ER&T to provide all energy, capacity, and ancillary services to ER&T. (xxv) Nuclear Nuclear has a Service Agreement with ER&T to provide all energy, capacity, and ancillary services to ER&T. 84 (xxvi) PSEG Chorzow B.V. None. (xxvii) PSEG Rongjiang Hydropower Ltd. None. (xxviii) Kalaeloa Partners, L.P. None. (xxix) Meiya Electric Asia, Ltd. None. (xxx) Shanghei Wei-Gang Energy Company Ltd. None. (xxxi) Power New York Power New York has a Service Agreement with ER&T to provide all energy, capacity, and ancillary services to ER&T. (xxxii) GWF Energy LLC None. (xxxiii) Biomass Italia S.p.A. None. (xxxiv) Tanir Bavi Company Private Limited None. (xxxv) Texas Independent Energy Operating Company, LLC None. (xxxvi) Empresa Distribuidora de Electricidad de Entre Rios S.A. None. (xxxvii) AES Parana S.C.A. None. (xxxviii) Danskammar OP None. (xxxix) Danskammar OL None. (xl) Roseton OP None. (xli) Roseton OL None. (xlii) Conemaugh Lessor Genco None. (xliii) Keystone Lessor Genco None. (xliv) Shawville Lessor Genco None. (xlv) Magellan None. (xlvi) Lawrenceburg ER&T has entered into a tolling agreement pursuant to which it is obligated to purchase the output of this facility at stated prices. As a result, ER&T will bear the price risk related to the output of this generation facility which is scheduled to be completed in 2003. (xlvii) Waterford ER&T has entered into a tolling agreement pursuant to which it is obligated to purchase the output of this facility at stated prices. As a result, ER&T will bear the price risk related to the output of this generation facility which is scheduled to be completed in 2003. 85 EXHIBIT A A consolidating statement of income and surplus of claimant and its direct or indirect affiliated subsidiary companies for the last calendar year, together with a consolidating balance sheet of claimant and its subsidiary companies as of the close of such calendar year. Exhibit A includes all required consolidating financial statements described above to be filed with this report and are attached hereto. Subsidiaries described under Item 1 above include all PSEG's direct and indirect subsidiaries. Direct and indirect subsidiaries of PSEG that exceeded 2% of PSEG's consolidated assets or consolidated revenues are PSE&G, Power, Fossil, Nuclear, ER&T, Energy Holdings, PSEG Resources, RCMC, PSEG Global, PSEG Global USA, PSEG International, PSEG Americas Inc., PSEG Americas Ltd., PSEG Chile Holding, PSEG Global Holding Co. and PSEG Energy Technologies and included in Exhibit A and cross-referenced for additional information to Item I. EXHIBIT B Financial Data Schedule If, at the time a report on this form is filed, the registrant is required to submit this report and any amendments thereto electronically via EDGAR, the registrant shall furnish a Financial Data Schedule. The Schedule shall set forth the financial and other data specified below that are applicable to the registrant on a consolidated basis. Exhibit B, attached to this report, includes all financial and other data that are applicable to the registrant on a consolidated basis. EXHIBIT C An organizational chart showing the relationship of each EWG or foreign utility company to the associate companies in the holding-company system. See attached Exhibit C. 86 The above-named Claimant (PSEG) has caused this statement to be duly executed on its behalf by its authorized officer on this XXth day of February, 2002. Public Service Enterprise Group Incorporated -------------------------------------------- (Name of Claimant) By PATRICIA A. RADO ----------------------------------- Patricia A. Rado Vice President and Controller (Principal Accounting Officer) (CORPORATE SEAL) Attest: E. J. BIGGINS, JR. ---------------------------- E. J. Biggins, Jr. Corporate Secretary Name, title, and address of officer to whom notices and correspondence concerning this statement should be addressed: James T. Foran Associate General Counsel ---------------------- ------------------------- (Name) (Title) 80 Park Plaza, T5B, P. O. Box 1171, Newark, New Jersey 07101-1171 ----------------------------------------------------------------- (Address) 87 EXHIBIT B Financial Data Schedule Public Service Enterprise Group Incorporated December 31, 2001 (Millions of Dollars) Consolidated Total Assets $25,397 Consolidated Total Operating Revenues $9,815 Consolidated Net Income $770 88 PUBLIC SERVICE ENTERPRISE GROUP INCORPORATED CONSOLIDATING STATEMENT OF INCOME For The Year Ended December 31, 2001 (Millions of Dollars, except for Per Share Data)
INTERCOMPANY PSEG ELIMINATIONS PSE&G & CONSOL. & RECLASS. SUBS. (A) --------------- ---------------- ------------ OPERATING REVENUES Electric $ 4,156 $ (2,125) $ 3,798 Gas 2,293 - 2,293 Trading 2,403 - - Other 963 - - --------------- ---------------- ------------ Total Operating Revenues 9,815 (2,125) 6,091 --------------- ---------------- ------------ OPERATING EXPENSES - Energy Costs 1,119 (2,126) 2,317 Gas Costs 1,596 - 1,596 Trading Costs 2,256 - - Operation and Maintenance 2,264 - 975 Depreciation and Amortization 522 - 384 Taxes Other Than Income Taxes 166 1 137 --------------- ---------------- ------------ Total Operating Expenses 7,923 (2,125) 5,409 --------------- ---------------- ------------ OPERATING INCOME 1,892 - 682 Other Income and Deductions 21 (856) 22 Interest Expense - net (705) 46 (356) Preferred Securities Dividend Requirements and Premium on Redemption (72) (1) (24) INCOME BEFORE INCOME TAXES, --------------- ---------------- ------------ EXTRAORDINARY ITEM AND CUMULATIVE EFFECT OF A CHANGE IN ACCOUNTING PRINCIPLE 1,136 (811) 324 Income Taxes (373) (1) (89) Extraordinary Item (net of tax) (2) - - Cumulative Effect of a Change in Accounting Principle (net of tax) 9 - - --------------- ---------------- ------------ NET INCOME $ 770 $ (812) $ 235 =============== ================ ============ WEIGHTED AVERAGE COMMON SHARES OUTSTANDING (000's) 208,226 ========= EARNINGS PER SHARE (BASIC AND DILUTED): Net Income $ 3.70 ========= DIVIDENDS PAID PER SHARE OF COMMON STOCK $ 2.16 ========= (A) Exceeds 2% of Enterprise's consolidated operating revenues. For additional information, see Item I. PSEG - Public Service Enterprise Group Incorporated PSE&G - Public Service Electric and Gas Company PSEG Power - PSEG Power LLC PSEG Services - PSEG Services Corporation Energy Holdings - PSEG Energy Holdings Inc. PSEG ENERGY POWER & PSEG HOLDINGS & SUBS. (A) SERVICES SUBS. (A) ----------- --------------- ---------------- OPERATING REVENUES Electric $2,311 $ - $172 Gas - - - Trading 2,403 - - Other - - 963 ----------- --------------- ---------------- Total Operating Revenues 4,714 - 1,135 ----------- --------------- ---------------- OPERATING EXPENSES Energy Costs 843 - 85 Gas Costs - - - Trading Costs 2,256 - - Operation and Maintenance 711 (6) 591 Depreciation and Amortization 95 3 27 Taxes Other Than Income Taxes 22 - 6 ----------- --------------- ---------------- Total Operating Expenses 3,927 (3) 709 ----------- --------------- ---------------- OPERATING INCOME 787 3 426 Other Income and Deductions - - (3) Interest Expense - net (143) (3) (190) Preferred Securities Dividend Requirements and Premium on Redemption - - - INCOME BEFORE INCOME TAXES, ----------- --------------- ---------------- EXTRAORDINARY ITEM AND CUMULATIVE EFFECT OF A CHANGE IN ACCOUNTING PRINCIPLE 644 - 233 Income Taxes (250) - (57) Extraordinary Item (net of tax) - - (2) Cumulative Effect of a Change in Accounting Principle (net of tax) - - 9 ----------- --------------- ---------------- NET INCOME $ 394 $ - $ 183 =========== =============== ================ ENTERPRISE ENTERPRISE ENTERPRISE CAPITAL CAPITAL CAPITAL PSEG TRUST I TRUST II TRUST III ------------ ----------- ----------- ----------- OPERATING REVENUES Electric $ - $ - $ - $ - Gas - - - - Trading - - - - Other - - - - ------------ ----------- ----------- ----------- Total Operating Revenues - - - - ------------ ----------- ----------- ----------- OPERATING EXPENSES Energy Costs - - - - Gas Costs - - - - Trading Costs - - - - Operation and Maintenance (7) - - - Depreciation and Amortization 13 - - - Taxes Other Than Income Taxes - - - - ------------ ----------- ----------- ----------- Total Operating Expenses 6 - - - ------------ ----------- ----------- ----------- OPERATING INCOME (6) - - - Other Income and Deductions 816 17 14 11 Interest Expense - net (59) - - - Preferred Securities Dividend Requirements and Premium on Redemption (5) (17) (14) (11) INCOME BEFORE INCOME TAXES, ------------ ----------- ----------- ----------- EXTRAORDINARY ITEM AND CUMULATIVE EFFECT OF A CHANGE IN ACCOUNTING PRINCIPLE 746 - - - Income Taxes 24 - - - Extraordinary Item (net of tax) - - - - Cumulative Effect of a Change in Accounting Principle (net of tax) - - - - ------------ ----------- ----------- ----------- NET INCOME $ 770 $ - $ - $ - ============ =========== =========== ===========
PUBLIC SERVICE ENTERPRISE GROUP INCORPORATED CONSOLIDATING BALANCE SHEET For The Year Ended December 31, 2001 (Millions of Dollars)
INTERCOMPANY PSEG PSEG ELIMINATIONS PSE&G & POWER & CONSOL. & RECLASS. SUBS. SUBS. ------------ --------------- ---------- ----------- CURRENT ASSETS Cash and Cash Equivalents $ 169 $ - $ 102 $ 9 Accounts Receivable: Customer Accounts Receivable 824 - 556 - Other Accounts Receivable 348 (192) 67 429 Allowance for Doubtful Accounts (43) - (38) - Unbilled Electric and Gas Revenue 291 - 291 - Fuel 509 - 415 76 Materials and Supplies, net of valuation reserves 174 - 50 124 Prepayments 74 - 40 13 Energy Trading Contracts 454 - 32 422 Restricted Cash 13 - 13 - Assets held for Sale 422 - - - Other 24 - 21 2 ------------ --------------- ---------- ----------- Total Current Assets 3,259 (192) 1,549 1,075 ------------ --------------- ---------- ----------- PROPERTY, PLANT AND EQUIPMENT Generation 4,232 - - 4,232 Transmission and Distribution 8,988 - 8,785 - Other 1,666 - 385 6 ------------ --------------- ---------- ----------- Total 14,886 - 9,170 4,238 Accumulated Depreciation and Amortization (4,822) - (3,329) (1,253) ------------ --------------- ---------- ----------- Net Property, Plant and Equipment 10,064 - 5,841 2,985 ------------ --------------- ---------- ----------- NONCURRENT ASSETS Regulatory Assets 5,220 - 5,220 - Long-Term Investments, net of accumulated amortization and net of valuation allowances 4,818 (6,020) 112 36 Nuclear Decommissioning Fund 817 - 817 Other Special Funds 222 - 130 55 Goodwill, net of accumulated amortization 649 - - 21 Deferred Income Taxes - (579) - 579 Other, net of accumulated amortization 348 4 84 66 ------------ --------------- ---------- ----------- Total Noncurrent Assets 12,074 (6,563) 5,546 1,574 ------------ --------------- ---------- ----------- 0 TOTAL $ 25,397 $ (6,755) $ 12,936 $ 5,634 ============ ============== ========= =========== ENERGY ENTERPRISE PSEG HOLDINGS & CAPITAL SERVICES SUBS. PSEG TRUST I --------------- ---------------- ------------ ----------- CURRENT ASSETS Cash and Cash Equivalents $ - $ 56 $ 2 $ - Accounts Receivable: Customer Accounts Receivable - 268 - - Other Accounts Receivable 1 47 (4) - Allowance for Doubtful Accounts - (5) - - Unbilled Electric and Gas Revenue - - - - Fuel - 18 - - Materials and Supplies, net of valuation reserves - - - - Prepayments 3 3 15 - Energy Trading Contracts - - - - Restricted Cash - - - - Assets held for Sale - 422 - - Other - - 1 - --------------- ---------------- ------------ ---------- Total Current Assets 4 809 14 - --------------- ---------------- ------------ ---------- PROPERTY, PLANT AND EQUIPMENT Generation - - - - Transmission and Distribution - 203 - - Other 31 1,164 80 - --------------- ---------------- ------------ ---------- Total 31 1,367 80 - Accumulated Depreciation and Amortization (3) (190) (47) - --------------- ---------------- ------------ ---------- Net Property, Plant and Equipment 28 1,177 33 - --------------- ---------------- ------------ ---------- NONCURRENT ASSETS Regulatory Assets - - - Long-Term Investments, net of accumulated amortization and net of valuation allowances - 4,671 5,477 232 Nuclear Decommissioning Fund - - - - Other Special Funds 37 - - - Goodwill, net of accumulated amortization - 628 - - Deferred Income Taxes - - - - Other, net of accumulated amortization 8 154 - - --------------- ---------------- ------------ ---------- Total Noncurrent Assets 45 5,453 5,477 232 --------------- ---------------- ------------ ---------- TOTAL $ 77 $ 7,439 $5,524 $ 232 =============== ================ ============ ========== PSEG - Public Service Enterprise Group Incorporated PSE&G - Public Service Electric and Gas Company PSEG Power - PSEG Power LLC PSEG Services - PSEG Services Corporation Energy Holdings - PSEG Energy Holdings Inc. ENTERPRISE ENTERPRISE CAPITAL CAPITAL TRUST II TRUST III ----------- ----------- CURRENT ASSETS Cash and Cash Equivalents $ - $ - Accounts Receivable: Customer Accounts Receivable - - Other Accounts Receivable - - Allowance for Doubtful Accounts - - Unbilled Electric and Gas Revenue - - Fuel - - Materials and Supplies, net of valuation reserves - - Prepayments - - Energy Trading Contracts - - Restricted Cash - - Assets held for Sale - - Other - - ----------- ----------- Total Current Assets - - ----------- ----------- PROPERTY, PLANT AND EQUIPMENT Generation - - Transmission and Distribution - - Other - - ----------- ----------- Total - - Accumulated Depreciation and Amortization - - ----------- ----------- Net Property, Plant and Equipment - - ----------- ----------- NONCURRENT ASSETS Regulatory Assets - - Long-Term Investments, net of accumulated amortization and net of valuation allowances 155 155 Nuclear Decommissioning Fund - - Other Special Funds - - Goodwill, net of accumulated amortization - - Deferred Income Taxes - - Other, net of accumulated amortization - - ----------- ----------- Total Noncurrent Assets 155 155 ----------- ----------- TOTAL $ 155 $ 155 =========== ===========
INTERCOMPANY PSEG PSEG ELIMINATIONS PSE&G & POWER & CONSOL. & RECLASS. SUBS. SUBS. ----------- -------------- ----------- --------- CURRENT LIABILITIES Long-Term Debt Due Within One Year $ 1,213 $ - $ 668 $ - Commercial Paper and Loans 1,338 - - - Accounts Payable 790 (165) 642 470 Energy Trading Contracts 602 (1) 169 434 Other 751 3 280 111 ----------- -------------- ----------- --------- Total Current Liabilities 4,694 (163) 1,759 1,015 ----------- -------------- ----------- --------- NONCURRENT LIABILITIES Deferred Income Taxes and ITC 3,205 (573) 2,551 - Regulatory Liabilities 373 - 373 - Nuclear Decommissioning 817 - - 817 OPEB Costs 476 - 466 8 Cost of Removal 146 - 146 Other 488 (6) 205 103 ----------- -------------- ----------- --------- Total Noncurrent Liabilities 5,505 (579) 3,595 1,074 ----------- -------------- ----------- --------- COMMITMENTS AND CONTINGENT LIABILITIES - - - - ----------- -------------- ----------- --------- CAPITALIZATION: LONG TERM DEBT 10,301 (542) 4,977 2,685 ----------- -------------- ----------- --------- SUBSIDIARIES' PREFERRED SECURITIES: Preferred Stock Without Mandatory Redemption 80 - 80 - Guaranteed Preferred Beneficial Interest in Subordinated Debentures 680 16 155 - ----------- -------------- ----------- --------- Total Subsidiaries' Preferred Securities 760 16 235 - ----------- -------------- ----------- --------- COMMON STOCKHOLDERS' EQUITY: Common Stock, issued; 2001 and 2000 -- 231,957,608 shares 3,599 (1,434) 892 - Contributed Capital - (2,840) - 1,350 Basis Adjustment - - 986 (986) Treasury Stock, at cost; 2001 - 26,118,590 shares, - - - - 2000 - 23,986,290 shares (981) - - - Retained Earnings 1,809 (1,501) 493 498 Accumulated Other Comprehensive Loss (290) 288 (1) (2) ----------- -------------- ----------- --------- Total Common Stockholders' Equity 4,137 (5,487) 2,370 860 ----------- -------------- ----------- --------- Total Capitalization 15,198 (6,013) 7,582 3,545 ----------- -------------- ----------- --------- TOTAL $ 25,397 $ (6,755) $ 12,936 $ 5,634 =========== ============== =========== ======== ENERGY ENTERPRISE ENTERPRISE ENTERPRISE PSEG HOLDINGS & CAPITAL CAPITAL CAPITAL SERVICES SUBS. PSEG TRUST I TRUST II TRUST III ---------- ------------ -------- ------------ ------------- ------------ $ - $ 270 $ 275 $ - $ - $ - - 585 753 - - - 30 188 (375) - - - - - - - - - 10 154 193 - - - ---------- ------------ -------- ------------ ------------- ------------ 40 1,197 846 - - - ---------- ------------ -------- ------------ ------------- ------------ 16 1,211 - - - - - - - - - - - - - - - - 2 - - - - - - - - - - - 19 167 - - - - ---------- ------------ -------- ------------ ------------- ------------ 37 1,378 - - - - ---------- ------------ -------- ------------ ------------- ------------ - - - - - - ---------- ------------ -------- ------------ ------------- ------------ - 2,640 541 - - - ---------- ------------ -------- ------------ ------------- ------------ - - - - - - 509 - - - - ---------- ------------ -------- ------------ ------------- ------------ - 509 - - - - ---------- ------------ -------- ------------ ------------- ------------ - - 3,599 232 155 155 - 1,490 - - - - - - - - - - - - - - - - - - (981) - - - - 510 1,809 - - - - (285) (290) - - - ---------- ------------ -------- ------------ ------------- ------------ - 1,715 4,137 232 155 155 ---------- ------------ -------- ------------ ------------- ------------ - 4,864 4,678 232 155 155 ---------- ------------ -------- ------------ ------------- ------------ $ 77 $ 7,439 $ 5,524 $ 232 $ 155 $ 155 ========== ============ ======== ============ ============= ============
PSEG - Public Service Enterprise Group Incorporated PSE&G - Public Service Electric and Gas Company PSEG Power - PSEG Power LLC PSEG Services - PSEG Services Corporation Energy Holdings - PSEG Energy Holdings Inc. PUBLIC SERVICE ENTERPRISE GROUP INCORPORATED CONSOLIDATING STATEMENT OF RETAINED EARNINGS FOR THE YEAR ENDING DECEMBER 31, 2001 (Millions of Dollars)
Intercompany PSEG Eliminations Consol. & Reclass. ------------ ------------------ BALANCE JANUARY 1, 2001 $ 1,493 $ (832) Net Income 770 (812) ------------ ------------------ Total 2,263 (1,644) ------------ ------------------ Cash Dividends: Preferred Stock, at required rates - 27 Common Stock (449) 116 ------------ ------------------ Total Cash Dividends (449) 143 ------------ ------------------ ------------ ------------------ Other Deductions (5) - ------------ ------------------ BALANCE DECEMBER 31, 2001 $ 1,809 $ (1,501) ============ ================== PSEG Energy PSE&G & POWER & Holdings & Subs. SUBS. Subs. PSEG -------------- -------------- --------------- ------------ BALANCE JANUARY 1, 2001 $ 375 $ 104 $ 353 $ 1,493 Net Income 235 394 183 770 -------------- -------------- --------------- ------------ Total 610 498 536 2,263 -------------- -------------- --------------- ------------ Cash Dividends: Preferred Stock, at required rates (5) - (22) - Common Stock (112) - (4) (449) -------------- -------------- --------------- ------------ Total Cash Dividends (117) - (26) (449) -------------- -------------- --------------- ------------ -------------- -------------- --------------- ------------ Other Deductions - - - (5) -------------- -------------- --------------- ------------ BALANCE DECEMBER 31, 2001 $ 493 $ 498 $ 510 $ 1,809 ============== ============== =============== ============
PSEG - Public Service Enterprise Group Incorporated PSE&G - Public Service Electric and Gas Company PSEG Power - PSEG Power LLC PSEG Service - PSEG Services Corporation Energy Holdings - PSEG Energy Holdings Inc. PUBLIC SERVICE ELECTRIC AND GAS COMPANY CONSOLIDATING STATEMENT OF INCOME For The Year Ended December 31, 2001 (Millions of Dollars)
INTERCOMPANY PSE&G ELIMINATIONS TRANSITION NEW CONSOL. (A) & RECLASS. PSE&G FUNDING MILLENNIUM ------------- -------------- -------- ------------- ------------ OPERATING REVENUES Electric Transmission and Distribution $ 1,481 $(1) $ 1,235 $ 247 $ - Bundled - - - - - Power Supply 2,317 - 2,317 - - Generation - - - - - Gas Distribution 2,293 - 2,293 - - Trading - - - - - ------------- -------------- -------- ------------- ------------ Total Operating Revenues 6,091 (1) 5,845 247 - ------------- -------------- -------- ------------- ------------ OPERATING EXPENSES Power Supply 2,317 - 2,317 - - Gas Costs 1,596 - 1,596 - - Generation - - - - - Trading - - - - - Operation and Maintenance 975 (1) 974 2 - Depreciation and Amortization 384 - 293 91 - Taxes Other Than Income Taxes 137 - 137 - - ------------- -------------- -------- ------------- ------------ Total Operating Expenses 5,409 (1) 5,317 93 - ------------- -------------- -------- ------------- ------------ OPERATING INCOME 682 - 528 154 - Other Income and Deductions 22 (26) 23 - - Interest Expense-net (356) 25 (227) (154) - Preferred Securities Dividend Requirements (24) 1 - - ------------- -------------- -------- ------------- ------------ INCOME BEFORE INCOME TAXES 324 - 324 - - Income Taxes (89) - (89) - - ------------- -------------- -------- ------------- ------------ NET INCOME $ 235 $ - $ 235 $ - $ - ============= ============== ======== ============= ============ PSE&G PSE&G CAPITAL CAPITAL PSE&G TRUST I TRUST II CAPITAL, L.P. --------- ----------- --------------- OPERATING REVENUES Electric Transmission and Distribution $ - $ - $ - Bundled - - - Power Supply - - - Generation - - - Gas Distribution - - - Trading - - - --------- ----------- --------------- Total Operating Revenues - - - --------- ----------- --------------- OPERATING EXPENSES Power Supply - - - Gas Costs - - - Generation - - - Trading - - - Operation and Maintenance - - - Depreciation and Amortization - - - Taxes Other Than Income Taxes - - - --------- ----------- --------------- Total Operating Expenses - - - --------- ----------- --------------- OPERATING INCOME - - - Other Income and Deductions 9 8 8 Interest Expense net - - Preferred Securities Dividend Requirements (9) (8) (8) --------- ----------- --------------- INCOME BEFORE INCOME TAXES - - - Income Taxes - - - --------- ----------- --------------- NET INCOME $ - $ - $ - ========= =========== ===============
(A) Exceeds 2% of Enterprise's consolidated operating revenues. For additional information, see Item I. PSE&G - Public Service Electric and Gas Company TRANSITION FUNDING - PSE&G Transition Funding LLC NEW MILLENIUM - Public Service New Millennium Economic Development Fund LLC PUBLIC SERVICE ELECTRIC AND GAS COMPANY CONSOLIDATING BALANCE SHEET For The Year Ended December 31, 2001 (Millions of Dollars)
INTERCOMPANY PSE&G ELIMINATIONS TRANSITION NEW CONSOL. & RECLASS. PSE&G FUNDING MILLENNIUM --------- -------------- ------- ------------ -------------- CURRENT ASSETS Cash and Cash Equivalents $ 102 $ - $ 101 $ 1 $ - Accounts Receivable: Customer Accounts Receivable 556 - 556 - - Other Accounts Receivable 67 (52) 67 52 - Allowance for Doubtful Accounts (38) - (38) - - Unbilled Revenues 291 - 291 - - Fuel 415 - 415 - - Materials and Supplies, net of valuation reserves 50 - 50 - - Prepayments 40 - 40 - - Energy Contracts 32 - 32 - Restricted Cash 13 - 1 12 Other 21 - 21 - - -------- ------- ---------- -------- -------- Total Current Assets 1,549 (52) 1,536 65 - -------- ------- ---------- -------- -------- PROPERTY, PLANT AND EQUIPMENT Electric 5,501 - 5,501 - - Gas 3,284 - 3,284 - - Other 385 - 385 - - -------- ------- ---------- -------- -------- Total 9,170 - 9,170 - - Accumulated depreciation and amortization (3,329) - (3,329) - - -------- ------- ---------- -------- -------- Net Property, Plant and Equipment 5,841 - 5,841 - - -------- ------- ---------- -------- -------- NONCURRENT ASSETS Regulatory Assets 5,220 - 2,651 2,556 - Notes Receivable - Affiliated Companies - - - - - Long-Term Investments 112 (189) 131 - 10 Other Special Funds 130 - 130 - - Other 84 - 84 - - -------- ------- ---------- -------- -------- Total Noncurrent Assets 5,546 (189) 2,996 2,556 10 -------- ------- ---------- -------- -------- TOTAL $ 12,936 $ (241) $10,373 $ 2,621 $ 10 ======== ======= ========== ======== ======== PSE&G PSE&G CAPITAL CAPITAL PSE&G NJP TRUST I TRUST II CAPITAL, L.P. ----- --------- ---------- ---------------- CURRENT ASSETS Cash and Cash Equivalents $ - $ - $ - $ - Accounts Receivable: Customer Accounts Receivable - - - - Other Accounts Receivable - - - - Allowance for Doubtful Accounts - - - - Unbilled Revenues - - - - Fuel - - - - Materials and Supplies, net of valuation reserves - - - - ----- ----- ------ ------- Prepayments - - - - ----- ----- ------ ------- Energy Contracts Restricted Cash Other - - - - Total Current Assets - - - - PROPERTY, PLANT AND EQUIPMENT Electric - - - - Gas - - - - Other - - - - ----- ----- ------ ------- Total - - - - Accumulated depreciation and amortization - - - - ----- ----- ------ ------- Net Property, Plant and Equipment - - - - ----- ----- ------ ------- NONCURRENT ASSETS Regulatory Assets 13 - - - Notes Receivable - Affiliated Companies - - - Long-Term Investments - - 98 62 Other Special Funds - - - - Other - - - - ----- ----- ------ ------- Total Noncurrent Assets 13 - 98 62 ----- ----- ------ ------- TOTAL $13 $ - $ 98 $ 62
PSE&G -Public Service Electric and Gas Company TRANSITION FUNDING -PSE&G Transition Funding LLC NEW MILLENIUM -Public Service New Millennium Economic Development Fund LLC NJP -New Jersey Properties, Inc. PUBLIC SERVICE ELECTRIC AND GAS COMPANY CONSOLIDATING BALANCE SHEET For The Year Ended December 31, 2001 (Millions of Dollars)
INTERCOMPANY PSE&G ELIMINATIONS TRANSITION CONSOL. & RECLASS. PSE&G FUNDING --------- -------------- ------- ------------ CURRENT LIABILITIES Long-Term Debt Due Within One Year $ 668 $ - $ 547 $ 121 Commercial Paper and Loans - - - - Accounts Payable 642 50 573 6 Energy Contracts 169 - 169 - Other 280 12 255 13 --------- -------------- ------- ------------ Total Current Liabilities 1,759 62 1,544 140 --------- -------------- ------- ------------ NONCURRENT LIABILITIES Deferred Income Taxes and ITC 2,551 - 2,551 - Regulatory Liabilities 373 - 373 - OPEB Costs 466 - 466 - Other 205 (115) 203 117 --------- -------------- ------- ------------ Total Noncurrent Liabilities 3,595 166 3,593 117 --------- -------------- ------- ------------ COMMITMENTS AND CONTINGENT LIABILITIES - - - - --------- -------------- ------- ------------ CAPITALIZATION: LONG TERM DEBT 4,977 (160) 2,786 2,351 --------- -------------- ------- ------------ PREFERRED SECURITIES: Preferred Stock Without Mandatory Redemption 80 - 80 - Subsidiaries Preferred Securities: Guaranteed Preferred Beneficial Interest in Subordinated Debentures 155 (5) - - --------- -------------- ------- ------------ Total Preferred Securities 235 (5) 80 - --------- -------------- ------- ------------ COMMON STOCKHOLDERS' EQUITY: Common Stock 892 - 892 - Contributed Capital - (23) - 13 Basis Adjustment 986 - 986 - Retained Earnings 493 4 493 - Accumulated Other Comprehensive Income (Loss) (1) - (1) - --------- -------------- ------- ------------ Total Common Stockholders' Equity 2,370 (23) 2,370 13 --------- -------------- ------- ------------ Total Capitalization 7,582 (188) 5,236 2,364 --------- -------------- ------- ------------ TOTAL $12,936 $ (241) 10,373 $ 2,621 ========= ============== ======= ============ PSE&G PSE&G NEW CAPITAL CAPITAL PSE&G MILLENNIUM NJP TRUST I TRUST II CAPITAL, L.P. ------------ ----- --------- ---------- ---------------- CURRENT LIABILITIES Long-Term Debt Due Within One Year $ - $ - $ - $ - $ - Commercial Paper and Loans - - - - - Accounts Payable - 13 - - - Energy Contracts - - - - - Other - - - - - ------------ ----- --------- ---------- ---------------- Total Current Liabilities - 13 - - - ------------ ----- --------- ---------- ---------------- NONCURRENT LIABILITIES Deferred Income Taxes and ITC - - - - - Regulatory Liabilities - - - - - OPEB Costs - - - - - Other - - - - - ------------ ----- --------- ---------- ---------------- Total Noncurrent Liabilities - - - - - ------------ ----- --------- ---------- ---------------- COMMITMENTS AND CONTINGENT LIABILITIES - - - - - ------------ ----- --------- ---------- ---------------- CAPITALIZATION: LONG TERM DEBT - - - - - ------------ ----- --------- ---------- ---------------- PREFERRED SECURITIES: Preferred Stock Without Mandatory Redemption - - - - - Preferred Stock With Mandatory Redemption - - - - - Subsidiaries Preferred Securities: Guaranteed Preferred Beneficial Interest in Subordinated Debentures - - - 98 62 ------------ ----- --------- ---------- ---------------- Total Preferred Securities - - - 98 62 ------------ ----- --------- ---------- ---------------- COMMON STOCKHOLDERS' EQUITY: Common Stock - - - - - Contributed Capital 10 - - - - Basis Adjustment - - - - - Retained Earnings - - - - - Accumulated Other Comprehensive Income (Loss) - - - - - ------------ ----- --------- ---------- ---------------- Total Common Stockholders' Equity 10 - - - - ------------ ----- --------- ---------- ---------------- Total Capitalization 10 - - 98 62 ------------ ----- --------- ---------- ---------------- TOTAL $ 10 $13 $ - $ 98 $ 62 ============ ===== ========= ========== ================
PSE&G -Public Service Electric and Gas Company TRANSITION FUNDING -PSE&G Transition Funding LLC NEW MILLENIUM -Public Service New Millennium Economic Development Fund LLC NJP -New Jersey Properties, Inc. PUBLIC SERVICE ELECTRIC AND GAS COMPANY CONSOLIDATING STATEMENT OF RETAINED EARNINGS FOR THE YEAR ENDING DECEMBER 31, 2001 (Millions of Dollars) INTERCOMPANY PSE&G ELIMINATIONS CONSOL. & RECLASS. PSE&G --------- --------------- ------- BALANCE JANUARY 1, 2001 $ 375 $ - $ 375 Net Income 235 - 235 --------- --------------- ------- Total 610 - 610 --------- --------------- ------- Cash Dividends on Preferred Stock (5) - (5) Cash Dividends on Common Stock (112) - (112) --------- --------------- ------- Total Cash Dividends (117) - (117) --------- --------------- ------- BALANCE DECEMBER 31, 2001 $ 493 $ - $ 493 ======== =============== ===== PSE&G - Public Service Electric and Gas Company PSEG POWER LLC CONSOLIDATING STATEMENT OF INCOME For The Year Ended December 31, 2001 (Millions of Dollars)
PSEG INTERCOMPANY PSEG POWER & ELIMINATIONS PSEG PSEG PSEG PSEG POWER SUBS. (A) & RECLASS. POWER FOSSIL (A) NUCLEAR (A) ER&T INVEST CO ----------- ------------ ------- --------- ---------- ------ ---------- OPERATING REVENUES Generation $ 2,311 $ - $ 2 $ 653 $ 941 $ 715 $ - Trading 2,403 - - 2 - 2,401 - ----------- ------------ ------- --------- ---------- -------- --------- Total Revenues 4,714 - 2 655 941 3,116 - ----------- ------------ ------- --------- ---------- -------- --------- OPERATING EXPENSES Energy Costs 843 - - 22 117 704 - Trading Costs 2,256 - - - - 2,256 - Operation and Maintenance 711 - 86 230 374 21 - Depreciation and Amortization 95 - 4 53 38 - - Taxes Other Than Income Taxes 22 - 1 14 7 - - ----------- ------------ ------- --------- ---------- -------- --------- Total Operating Expenses 3,927 - 91 319 536 2,981 - ----------- ------------ ------- --------- ---------- -------- --------- OPERATING INCOME 787 - (89) 336 405 135 - Other Income and Deductions - (584) 584 - - - Interest Expense (143) - (192) (42) (22) 7 106 Preferred Securities Dividend Requirements - - - - - - - ----------- ------------ ------- --------- ---------- -------- --------- INCOME BEFORE INCOME TAXES 644 (584) 303 294 383 142 106 Income Taxes (250) - 91 (95) (157) (52) (37) ----------- ------------ ------- --------- ---------- -------- --------- NET INCOME $ 394 $ (584) $ 394 $ 199 $ 226 $ 90 $ 69 =========== ============ ======= ========= ========== ======== =========
(A) Exceeds 2% of Enterprise's consolidated operating revenues. For additional information, see Item I. PSEG POWER - PSEG Power LLC PSEG FOSSIL - PSEG Fossil LLC PSEG NUCLEAR - PSEG Nuclear LLC PSEG ER&T - PSEG Resources & Trade LLC PSEG POWER LLC CONSOLIDATING BALANCE SHEET For The Year Ended December 31, 2001 (Millions of Dollars)
PSEG INTERCOMPANY POWER & ELIMINATIONS PSEG PSEG PSEG PSEG SUBS. & RECLASS. POWER FOSSIL NUCLEAR ER&T --------- -------------- ------- -------- ----------- ------ CURRENT ASSETS Cash and Cash Equivalents $ 9 $ - $ - $ 6 $ 2 $ 1 Accounts Receivable 270 (48) - - 14 256 Accounts Receivable - Affiliated Companies 159 159 - - - - Materials and Supplies, net of valuation reserves 124 - 7 35 82 - Fuel 76 - - 8 2 66 Energy Trading Contracts 422 - - - - 422 Other 15 - 2 6 4 3 --------- -------------- ------- -------- ----------- ------- Total Current Assets 1,075 111 9 55 104 748 --------- -------------- ------- -------- ----------- ------- PROPERTY, PLANT AND EQUIPMENT Property, Plant and Equipment 4,238 - 57 3,396 779 6 Accumulated Depreciation and Amortization (1,253) - (17) (796) (440) - --------- -------------- ------- -------- ----------- ------- Net Property, Plant and Equipment 2,985 - 40 2,600 339 6 --------- -------------- ------- -------- ----------- ------- NONCURRENT ASSETS Nuclear Decommissioning Fund 817 - - - 817 - Deferred Income Taxes 579 - 681 (58) (45) 1 Other 178 (3,242) 2,155 63 (3) 36 --------- -------------- ------- -------- ----------- ------- Total Noncurrent Assets 1,574 (3,242) 2,836 5 769 37 --------- -------------- ------- -------- ----------- ------- TOTAL $ 5,634 $ (3,131) $2,885 $ 2,660 $ 1,212 $ 791 ========= ============== ======= ======== =========== ======= PSEG POWER INVEST CO ----------- CURRENT ASSETS Cash and Cash Equivalents $ - Accounts Receivable 48 Accounts Receivable - Affiliated Companies - Materials and Supplies, net of valuation reserves - Fuel - Energy Trading Contracts - Other - ----------- Total Current Assets 48 ----------- PROPERTY, PLANT AND EQUIPMENT Property, Plant and Equipment - Accumulated Depreciation and Amortization - ----------- Net Property, Plant and Equipment - ----------- NONCURRENT ASSETS Nuclear Decommissioning Fund - Deferred Income Taxes - Other 1,171 ----------- Total Noncurrent Assets 1,171 ----------- TOTAL $ 1,219 ===========
PSEG POWER - PSEG Power LLC PSEG FOSSIL - PSEG Fossil LLC PSEG NUCLEAR - PSEG Nuclear LLC PSEG ER&T - PSEG Resources & Trade LLC PSEG POWER LLC CONSOLIDATING BALANCE SHEET For The Year Ended December 31, 2001 (Millions of Dollars)
PSEG INTERCOMPANY PSEG POWER & ELIMINATIONS PSEG PSEG PSEG PSEG POWER SUBS. & RECLASS. POWER FOSSIL NUCLEAR ER&T INVEST CO --------- -------------- ------- -------- --------- ------ ----------- CURRENT LIABILITIES Accounts Payable $ 333 $ - $ 47 $ 24 $ 30 $ 232 $ - Accounts Payable -Affiliated Companies 137 63 (68) 648 (163) (343) - Energy Trading Contracts 434 - - - - 434 - Other 111 (49) 80 12 17 51 - --------- -------------- ------- -------- --------- ------ ----------- Total Current Liabilities 1,015 14 59 684 (116) 374 - --------- -------------- ------- -------- --------- ------ ----------- NONCURRENT LIABILITIES Nuclear Decommissioning 817 - - - 817 - - Cost of Removal Liability 146 - - 146 - - - Environmental 53 - - 53 - - - Other 58 - 30 4 (12) 36 - --------- -------------- ------- -------- --------- ------ ----------- Total Noncurrent Liabilities 1,074 - 30 203 805 36 - --------- -------------- ------- -------- --------- ------ ----------- COMMITMENTS AND CONTINGENT LIABILITIES - - - - - - - --------- -------------- ------- -------- --------- ------ ----------- CAPITALIZATION: LONG TERM DEBT Notes Payable - Affiliated Company - (1,171) 21 800 350 - - Long-Term Debt 2,685 - 1,915 770 - - - --------- -------------- ------- -------- --------- ------ ----------- Total Long-Term Debt 2,685 (1,171) 1,936 1,570 350 - - MEMBER'S EQUITY: Contributed Capital 1,350 (1,104) 1,350 (42) (30) 26 1,150 Basis Adjustment (986) - (986) - - - - Retained Earnings 498 (869) 498 244 203 353 69 Accumulated Other Comprehensive Loss (2) (1) (2) 1 - - - --------- -------------- ------- -------- --------- ------ ----------- Total Member's Equity 860 (1,974) 860 203 (173) 379 1,219 --------- -------------- ------- -------- --------- ------ ----------- Total Capitalization 3,545 (3,145) 2,796 1,773 (523) 379 1,219 --------- -------------- ------- -------- --------- ------ ----------- TOTAL $ 5,634 $ (3,131) $2,885 $2,660 $ 1,212 $ 789 $ 1,219 ========= ============== ======= ======== ========= ====== ===========
PSEG POWER - PSEG Power LLC PSEG FOSSIL - PSEG Fossil LLC PSEG NUCLEAR - PSEG Nuclear LLC PSEG ER&T - PSEG Resources & Trade LLC PSEG POWER LLC CONSOLIDATING STATEMENT OF RETAINED EARNINGS FOR THE YEAR ENDING DECEMBER 31, 2001 (Millions of Dollars)
PSEG INTERCOMPANY PSEG POWER & ELIMINATIONS PSEG PSEG PSEG PSEG POWER SUBS. & RECLASS. POWER FOSSIL NUCLEAR ER&T INVEST CO --------- -------------- ------- -------- --------- ------ ----------- BALANCE JANUARY 1, 2001 $ 104 $ (355) $ 104 $ 45 $ 47 $ 263 $ - Net Income 394 (584) 394 199 226 90 69 - --------- -------------- ------- -------- ---------- ------ ----------- Total 498 (939) 498 244 273 353 69 --------- -------------- ------- -------- ---------- ------ ----------- Cash Dividends: Common Stock - 70 - - (70) - - --------- -------------- ------- -------- ---------- ------ ----------- Total Cash Dividends - 70 - - (70) - - --------- -------------- ------- -------- ---------- ------ ----------- BALANCE DECEMBER 31, 2001 $ 498 $ (869) $ 498 $ 244 $ 203 $ 353 $ 69 ========= ============== ======= ======== ========== ====== ===========
PSEG POWER - PSEG Power LLC PSEG FOSSIL - PSEG Fossil LLC PSEG NUCLEAR - PSEG Nuclear LLC PSEG ER&T - PSEG Resources & Trade LLC PSEG FOSSIL LLC CONSOLIDATING STATEMENT OF INCOME For The Year Ended December 31, 2001 (Millions of Dollars)
PSEG INTERCOMPANY PSEG PSEG POWER PSEG FOSSIL LLC ELIMINATIONS FOSSIL NEW YORK MORRISTOWN & SUBS. (A) & RECLASS. LLC INC ENERGY -------------- -------------- --------- ------------ ------------ OPERATING REVENUES Generation $653 $ - $631 $22 $ - Trading 2 - 2 - -------------- -------------- --------- ------------ ------------ Total Operating Revenues 655 - 631 24 - -------------- -------------- --------- ------------ ------------ OPERATING EXPENSES - Electric Energy Costs 22 - 5 17 - Operation and Maintenance 230 - 216 14 - Depreciation and Amortization 53 - 51 2 - Taxes Other Than Income Taxes 14 - 8 6 - -------------- -------------- --------- ------------ ------------ Total Operating Expenses 319 - 280 39 - -------------- -------------- --------- ------------ ------------ OPERATING INCOME 336 - 351 (15) - Other Income and Deductions - 7 (7) - - Interest Expense (42) - (44) (2) 4 -------------- -------------- --------- ------------ ------------ INCOME BEFORE INCOME TAXES 294 7 300 (17) 4 Income Taxes (95) - (101) 6 - -------------- -------------- --------- ------------ ------------ NET INCOME $ 199 $ 7 $ 199 $ (11) $ 4 ============== ============== ========= ============ ============
(A) Exceeds 2% of Enterprise's consolidated operating revenues. For additional information, see Item I. PSEG FOSSIL LLC CONSOLIDATING BALANCE SHEET For The Year Ended December 31, 2001 (Millions of Dollars)
PSEG INTERCOMPANY PSEG PSEG POWER PSEG FOSSIL LLC ELIMINATIONS FOSSIL NEW YORK LAWRENCEBURG & SUBS. & RECLASS. LLC INC ENERGY ------------ -------------- -------- ----------- -------------- CURRENT ASSETS Cash and Cash Equivalents $ 6 $ - $ 6 $ - $ - Other Accounts Receivable - - - - - Fuel 8 - - 8 - Materials and Supplies, net of valuation reserves 35 - 32 3 - Prepayments 3 - - 3 - Other 3 - 1 - - ------------ -------------- -------- ----------- -------------- Total Current Assets 55 - 39 14 - ------------ -------------- -------- ----------- -------------- PROPERTY, PLANT AND EQUIPMENT Property, Plant and Equipment 3,396 - 2,441 12 462 Accumulated Depreciation and Amortization (796) - (794) (2) - ------------ -------------- -------- ----------- -------------- Net Property, Plant and Equipment 2,600 - 1,647 10 462 ------------ -------------- -------- ----------- -------------- NONCURRENT ASSETS Deferred Income Taxes (58) - (57) - - Other 63 (29) 32 60 - ------------ -------------- -------- ----------- -------------- Total Noncurrent Assets 5 (29) (25) 60 - ------------ -------------- -------- ----------- -------------- TOTAL $ 2,660 $ (29) $ 1,661 $ 84 $ 462 ============ ============== ======== =========== ============== PSEG PSEG MORRISTOWN WATERFORD ENERGY LLC ------------ ----------- CURRENT ASSETS Cash and Cash Equivalents $ - $ - Other Accounts Receivable - - Fuel - - Materials and Supplies, net of valuation reserves - - Prepayments Other - 2 ------------ ----------- Total Current Assets - 2 ------------ ----------- PROPERTY, PLANT AND EQUIPMENT Property, Plant and Equipment 88 393 Accumulated Depreciation and Amortization - - ------------ ----------- Net Property, Plant and Equipment 88 393 ------------ ----------- NONCURRENT ASSETS Deferred Income Taxes - (1) Other - - ------------ ----------- Total Noncurrent Assets - (1) ------------ ----------- TOTAL $ 88 $ 394 ============ ===========
PSEG FOSSIL LLC CONSOLIDATING BALANCE SHEET For The Year Ended December 31, 2001 (Millions of Dollars)
PSEG INTERCOMPANY PSEG PSEG POWER PSEG PSEG FOSSIL LLC ELIMINATIONS FOSSIL NEW YORK LAWRENCEBURG MORRISTOWN & SUBS. & RECLASS. LLC INC ENERGY ENERGY ------------ -------------- -------- ----------- -------------- ------------ CURRENT LIABILITIES Accounts Payable $ 672 $ 4 $ 471 $ 54 $ 45 $ 84 Other 12 - - 9 2 - ------------ -------------- -------- ----------- -------------- ------------ Total Current Liabilities 684 4 471 63 47 84 ------------ -------------- -------- ----------- -------------- ------------ NONCURRENT LIABILITIES Cost of Removal 146 - 132 14 - - Environmental 53 - 53 - - - Other 4 - 2 2 - - ------------ -------------- -------- ----------- -------------- ------------ Total Noncurrent Liabilities 203 - 187 16 - - ------------ -------------- -------- ----------- -------------- ------------ COMMITMENTS AND CONTINGENT LIABILITIES - - - - - - ------------ -------------- -------- ----------- -------------- ------------ CAPITALIZATION: LONG TERM DEBT Notes Payable - Affiliated Company 800 - 800 - - - Long-Term Debt 770 - - - 415 - ------------ -------------- -------- ----------- -------------- ------------ Total Long-Term Debt 1,570 - 800 - 415 - COMMON STOCKHOLDERS' EQUITY: Contributed Capital (42) (49) (42) 26 - - Retained Earnings 244 17 244 (21) - 4 Accumulated Other Comprehensive Income 1 (1) 1 - - - ------------ -------------- -------- ----------- -------------- ------------ Total Common Stockholders' Equity 203 (33) 203 5 - 4 ------------ -------------- -------- ----------- -------------- ------------ Total Capitalization 1,773 (33) 1,003 5 415 4 ------------ -------------- -------- ----------- -------------- ------------ TOTAL $ 2,660 $ (29) $ 1,661 $ 84 $ 462 $ 88 ============ ============== ======== =========== ============= ============ PSEG WATERFORD LLC ----------- CURRENT LIABILITIES Accounts Payable $ 14 Other 1 ----------- Total Current Liabilities 15 ----------- NONCURRENT LIABILITIES Cost of Removal - Environmental - Other - ----------- Total Noncurrent Liabilities - ----------- COMMITMENTS AND CONTINGENT LIABILITIES - ---------- CAPITALIZATION: LONG TERM DEBT Notes Payable - Affiliated Company - Long-Term Debt 355 ---------- Total Long-Term Debt 355 COMMON STOCKHOLDERS' EQUITY: Contributed Capital 23 Retained Earnings - Accumulated Other Comprehensive Income 1 ----------- Total Common Stockholders' Equity 24 ----------- Total Capitalization 379 ----------- TOTAL $ 394 ===========
PSEG FOSSIL LLC CONSOLIDATING STATEMENT OF RETAINED EARNINGS FOR THE YEAR ENDING DECEMBER 31, 2001 (Millions of Dollars)
PSEG INTERCOMPANY PSEG PSEG POWER PSEG FOSSIL LLC ELIMINATIONS FOSSIL NEW YORK MORRISTOWN & SUBS. & RECLASS. LLC INC ENERGY ------------ -------------- -------- ------------ ------------ BALANCE JANUARY 1, 2001 $ 45 $ 10 $ 45 $ (10) $ - Net Income 199 7 199 (11) 4 ------------ -------------- -------- ------------ ------------ Total 244 17 244 (21) 4 ------------ -------------- -------- ------------ ------------ Cash Dividends: Common Stock - - - - - ------------ -------------- -------- ------------ ------------ Total Cash Dividends - - - - - ------------ -------------- -------- ------------ ------------ BALANCE DECEMBER 31, 2001 $ 244 $ 17 $ 244 $ (21) $ 4 ============ ============== ======== ============ ============
PSEG NUCLEAR LLC CONSOLIDATING STATEMENT OF INCOME For The Year Ended December 31, 2001 (Millions of Dollars)
PSEG INTERCOMPANY PSEG NUCLEAR LLC ELIMINATIONS NUCLEAR FRANCIS & SUBS. (A) & RECLASS. LLC CORP ------------- -------------- --------- --------- OPERATING REVENUES Generation $941 $ - $941 $ - Trading - - - - ------------- -------------- --------- --------- Total Operating Revenues 941 - 941 - ------------- -------------- --------- --------- OPERATING EXPENSES - Electric Energy Costs 117 - 117 - Operation and Maintenance 374 - 374 - Depreciation and Amortization 38 - 38 - Taxes Other Than Income Taxes 7 - 7 - ------------- -------------- --------- --------- Total Operating Expenses 536 - 536 - ------------- -------------- --------- --------- OPERATING INCOME 405 - 405 - Other Income and Deductions - - - - Interest Expense (22) - (22) - ------------- -------------- --------- --------- INCOME BEFORE INCOME TAXES 383 - 383 - Income Taxes (157) - (157) - ------------- -------------- --------- --------- NET INCOME $ 226 $ - $ 226 $ - ============= ============== ========= =========
(A) Exceeds 2% of Enterprise's consolidated operating revenues. For additional information, see Item I. PSEG NUCLEAR LLC CONSOLIDATING BALANCE SHEET For The Year Ended December 31, 2001 (Millions of Dollars)
PSEG INTERCOMPANY PSEG NUCLEAR LLC ELIMINATIONS NUCLEAR FRANCIS & SUBS. & RECLASS. LLC CORP ------------- -------------- --------- --------- CURRENT ASSETS Cash and Cash Equivalents $ 2 $ - $ 2 $ - Other Accounts Receivable 14 - 14 - Fuel 2 - 2 - Materials and Supplies, net of valuation reserves 82 - 82 - Prepayments - - - - Other 4 - 4 - ------------- -------------- --------- --------- Total Current Assets 104 - 104 - ------------- -------------- --------- --------- PROPERTY, PLANT AND EQUIPMENT Property, Plant and Equipment 779 - 774 5 Accumulated Depreciation and Amortization (440) - (440) - ------------- -------------- --------- --------- Net Property, Plant and Equipment 339 - 334 5 ------------- -------------- --------- --------- NONCURRENT ASSETS Deferred Income Taxes (45) - (45) - Other 814 - 814 - ------------- -------------- --------- --------- Total Noncurrent Assets 769 - 769 - ------------- -------------- --------- --------- TOTAL $ 1,212 $ - $ 1,207 $ 5 ============= ============== ========= =========
PSEG NUCLEAR LLC CONSOLIDATING BALANCE SHEET For The Year Ended December 31, 2001 (Millions of Dollars)
PSEG INTERCOMPANY PSEG NUCLEAR LLC ELIMINATIONS NUCLEAR FRANCIS & SUBS. & RECLASS. LLC CORP ------------- -------------- --------- --------- CURRENT LIABILITIES Accounts Payable $ (133) $ - $(134) $ 1 Other 17 - 17 - ------------- -------------- --------- --------- Total Current Liabilities (116) - (117) 1 ------------- -------------- --------- --------- NONCURRENT LIABILITIES Nuclear Decommissioning 817 - 817 - Other (12) - (12) - ------------- -------------- --------- --------- Total Noncurrent Liabilities 805 - 805 - ------------- -------------- --------- --------- COMMITMENTS AND CONTINGENT LIABILITIES - - - - CAPITALIZATION: LONG TERM DEBT Notes Payable - Affiliated Company 350 - 350 - Long-Term Debt - - - - ------------- -------------- --------- --------- Total Long-Term Debt 350 - 350 - COMMON STOCKHOLDERS' EQUITY: Contributed Capital (30) - (34) 4 Retained Earnings 203 - 203 - Accumulated Other Comprehensive Income - - - - ------------- -------------- --------- --------- Total Common Stockholders' Equity 173 - 169 4 ------------- -------------- --------- --------- Total Capitalization 523 - 519 4 ------------- -------------- --------- --------- TOTAL $ 1,212 $ - $ 1,207 $ 5 ============= ============== ========= =========
PSEG NUCLEAR LLC CONSOLIDATING STATEMENT OF RETAINED EARNINGS FOR THE YEAR ENDING DECEMBER 31, 2001 (Millions of Dollars) PSEG INTERCOMPANY PSEG NUCLEAR LLC ELIMINATIONS NUCLEAR FRANCIS & SUBS. & RECLASS. LLC CORP ------------- -------------- --------- --------- BALANCE JANUARY 1, 2001 $ 47 $ - $ 47 $ - Net Income 226 - 226 - ------------- -------------- --------- --------- Total 273 - 273 - ------------- -------------- --------- --------- Cash Dividends: Common Stock (70) - (70) - ------------- -------------- --------- --------- Total Cash Dividends (70) - (70) - ------------- -------------- --------- --------- BALANCE DECEMBER 31, 2001 $ 203 $ - $ 203 $ - ============= ============== ========= ========= PSEG ENERGY HOLDINGS INC. CONSOLIDATING STATEMENT OF INCOME FOR THE YEAR ENDING DECEMBER 31, 2001 (MILLIONS OF DOLLARS)
PSEG ENERGY INTERCOMPANY PSEG PSEG PSEG HOLDINGS ELIMINATIONS ENERGY GLOBAL RESOURCES CONSOL. & RECLASS. HOLDINGS ----------- ------------- ---------- --------- ----------- REVENUES: Income from joint ventures and partnerships $ 144 $ -- $ -- $ 143 $ 1 Income from capital lease agreements 206 -- -- -- 206 Income from operating leases 8 -- -- -- 8 Gain on withdrawal of sale of partnership 76 -- -- 76 -- Interest and dividend income 48 -- 1 46 1 Investment losses (2) -- -- -- (2) Energy service revenues 443 -- -- -- -- Consulting and O&M fees 3 -- -- 3 -- Electric revenues 184 -- -- 184 -- DSM revenues 25 -- -- -- -- Interest and other - associated cos. -- (181) 142 -- -- Equity in subsidiary earnings -- (185) 185 -- -- ----------- ------------- ---------- --------- ----------- TOTAL REVENUES 1135 (366) 327 452 215 ----------- ------------- ---------- --------- ----------- OPERATING EXPENSES: Electric energy costs 85 -- -- 85 -- Operation and maintenance 448 -- -- 29 4 Depreciation and amortization 27 -- -- 15 4 Write-down of project investments 7 -- -- 7 -- Administrative and general 143 (11) 19 57 7 ----------- ------------- ---------- --------- ----------- TOTAL OPERATING EXPENSES 709 (11) 19 193 15 ----------- ------------- ---------- --------- ----------- OPERATING INCOME 426 (355) 308 259 200 ----------- ------------- ---------- --------- ----------- OTHER INCOME 1 -- 4 (6) -- ----------- ------------- ---------- --------- ----------- INTEREST EXPENSE: PSEG Capital Corporation -- (40) -- 12 26 PSEG Energy Holdings Inc. -- (131) -- 56 72 Enterprise Group Development Corp. -- -- -- -- -- PSEG Energy Technologies Inc. -- -- -- -- -- PSEG 2 -- 2 -- -- Other 204 -- 131 32 3 Capitalized interest (16) -- -- (16) -- ----------- ------------- ---------- --------- ----------- NET INTEREST EXPENSE 190 (171) 133 84 100 ----------- ------------- ---------- --------- ----------- INCOME BEFORE INCOME TAXES 237 (186) 180 169 100 ----------- ------------- ---------- --------- ----------- INCOME TAXES: Current (101) -- (5) 25 (111) Deferred 152 -- 2 8 140 Investment and energy tax credits - net (1) -- -- (1) (1) Foreign 7 -- -- 7 -- ----------- ------------- ---------- --------- ----------- TOTAL INCOME TAXES 57 -- (3) 39 29 ----------- ------------- ---------- --------- ----------- MINORITY INTERESTS 4 -- -- 4 -- ----------- ------------- ---------- --------- ----------- NET INCOME BEFORE EXTRAORDINARY ITEM AND CUMULATIVE EFFECT OF CHANGE IN ACCOUNTING PRINCIPLE $ 176 (185) 183 125 70 ----------- ------------- ---------- --------- ----------- Extraordinary loss on early retirement of debt (2) -- -- (2) -- Cumulative eff.of change in acctg.principle 9 -- -- 9 -- ----------- ------------- ---------- --------- ----------- NET INCOME $ 183 (185) 183 133 70 Preferred stock dividend requirements 23 (23) 23 17 6 ----------- ------------- ---------- --------- ----------- EARNINGS AVAILABLE TO COMMON STOCK $ 161 $ (162) $ 161 $ 116 $ 64 =========== ============= ========== ========= =========== PSEG ENERGY PSEG TECHNOLOGIES EGDC CAPITAL ECFC -------------- -------- --------- --------- REVENUES: Income from joint ventures and partnerships $ -- $ 1 $ -- $ -- Income from capital lease agreements -- -- -- -- Income from operating leases -- -- -- -- Gain on withdrawal of sale of partnership -- -- -- -- Interest and dividend income -- -- -- -- Investment losses -- -- -- -- Energy service revenues 443 -- -- -- Consulting and O&M fees -- -- -- -- Electric revenues -- -- -- -- DSM revenues 25 -- -- -- Interest and other - associated cos. -- -- 39 -- Equity in subsidiary earnings -- -- -- -- -------------- -------- --------- --------- TOTAL REVENUES 467 1 39 -- -------------- -------- --------- --------- OPERATING EXPENSES: Electric energy costs -- -- -- -- Operation and maintenance 414 1 -- -- Depreciation and amortization 7 -- -- -- Write-down of project investments -- -- -- -- Administrative and general 70 -- -- -- -------------- -------- --------- --------- TOTAL OPERATING EXPENSES 491 1 -- -- -------------- -------- --------- --------- OPERATING INCOME (24) -- 39 -- -------------- -------- --------- --------- OTHER INCOME 2 -- -- -- -------------- -------- --------- --------- INTEREST EXPENSE: PSEG Capital Corporation 1 -- -- -- PSEG Energy Holdings Inc. 4 -- -- -- Enterprise Group Development Corp. -- -- -- -- PSEG Energy Technologies Inc. -- -- -- -- PSEG -- -- -- -- Other -- -- 39 -- Capitalized interest -- -- -- -- -------------- -------- --------- --------- NET INTEREST EXPENSE 5 -- 39 -- -------------- -------- --------- --------- INCOME BEFORE INCOME TAXES (26) -- -- -- -------------- -------- --------- --------- INCOME TAXES: Current (9) -- -- -- Deferred 1 -- -- -- Investment and energy tax credits - net -- -- -- -- Foreign -- -- -- -- -------------- -------- --------- --------- TOTAL INCOME TAXES (8) -- -- -- -------------- -------- --------- --------- MINORITY INTERESTS -- -- -- -- -------------- -------- --------- --------- NET INCOME BEFORE EXTRAORDINARY ITEM AND CUMULATIVE EFFECT OF CHANGE IN ACCOUNTING PRINCIPLE (18) -- -- -- -------------- -------- --------- --------- Extraordinary loss on early retirement of debt -- -- -- -- Cumulative eff.of change in acctg.principle -- -- -- -- -------------- -------- --------- --------- NET INCOME (18) -- -- -- Preferred stock dividend requirements -- -- -- -- -------------- -------- --------- --------- EARNINGS AVAILABLE TO COMMON STOCK $ (18) $ -- $ -- $ -- ============== ======== ========= =========
PSEG ENERGY HOLDINGS INC. CONSOLIDATING STATEMENT OF RETAINED EARNINGS FOR THE YEAR ENDING DECEMBER 31, 2001 (MILLIONS OF DOLLARS)
PSEG INTERCOMPANY ENERGY HOLDINGS ELIMINATIONS PSEG PSEG PSEG CONSOL. & RECLASS. ENERGY HOLDINGS GLOBAL RESOURCES ----------------- -------------- ----------------- ------------ ------------- BALANCE JANUARY 1, 2001 $ 353 $ (171) $ 353 $ 124 $ 206 NET INCOME 183 (185) 183 133 70 ----------------- -------------- ----------------- ------------ ------------- TOTAL 536 (356) 536 257 276 ----------------- -------------- ----------------- ------------ ------------- DIVIDENDS DECLARED 26 (26) 26 20 6 ----------------- -------------- ----------------- ------------ ------------- ----------------- -------------- ----------------- ------------ ------------- BALANCE DECEMBER 31, 2001 $ 510 $ (330) $ 510 $ 237 $ 270 ================= ============== ================= ============ ============= PSEG ENERGY PSEG TECHNOLOGIES EGDC CAPITAL ECFC -------------- ------------- ------------- ------------ BALANCE JANUARY 1, 2001 $ (59) $ (100) $ -- $ -- NET INCOME (18) -- -- -- -------------- ------------- ------------- ------------ TOTAL (77) (100) -- -- -------------- ------------- ------------- ------------ DIVIDENDS DECLARED -- -- -- -- -------------- ------------- ------------- ------------ -------------- ------------- ------------- ------------ BALANCE DECEMBER 31, 2001 $ (77) $ (100) $ -- $ -- ============== ============= ============= ============
PSEG ENERGY HOLDINGS INC. CONSOLIDATING BALANCE SHEET DECEMBER 31, 2001 (MILLIONS OF DOLLARS)
PSEG INTERCOMPANY ENERGY HOLDINGS ELIMINATIONS PSEG PSEG PSEG CONSOL. & RECLASS. ENERGY HOLDINGS GLOBAL RESOURCES ---------------- ---------------- --------------- -------------- -------------- ASSETS CURRENT ASSETS Cash and temporary cash investments $ 56 $ -- $ -- $ 52 $ 4 Accounts receivable: Trade 250 -- -- 130 -- Allowance for doubtful accounts (5) -- -- -- -- Other 19 -- 1 17 1 PSEG Service Corp -- (2) 2 -- -- PSE&G -- (1) -- 1 -- PSEG -- (27) 8 19 -- Other associated companies -- (83) 57 -- -- Notes receivable: -- Associated companies -- (2,387) 1,931 -- -- Other 25 -- -- 5 -- Interest and dividends receivable 2 -- -- 1 -- Inventory 18 -- -- 18 -- Cost and earnings in excess of billings 19 -- -- -- -- Assets held for sale 422 -- -- 399 -- Restricted cash -- -- -- -- -- Prepayments 3 -- -- 1 -- ---------------- ---------------- --------------- -------------- -------------- Total Current Assets 809 (2,500) 1,999 642 5 ---------------- ---------------- --------------- -------------- -------------- PROPERTY AND EQUIPMENT Real estate 115 -- -- 27 72 Generation assets 863 -- -- 863 -- Furniture and equipment 62 -- 2 24 9 Construction work in progress 345 -- -- 345 -- Other 26 -- -- 8 -- Accum. depr. and amortization (190) -- (2) (137) (19) Valuation allowances -- -- -- -- -- ---------------- ---------------- --------------- -------------- -------------- Property and Equipment-net 1,221 -- -- 1,129 62 ---------------- ---------------- --------------- -------------- -------------- INVESTMENTS Subsidiaries -- (2,521) 2521 -- -- Capital lease agreements 2,791 -- -- -- 2,791 Limited partnerships 615 -- -- 452 163 General partnerships 58 -- -- 24 -- Corporate joint ventures 1,111 -- -- 1,111 -- Securities 5 -- -- -- 5 DSM investments 47 -- -- -- -- Other investments 10 -- -- -- 5 Valuation allowances (21) -- -- -- (7) ---------------- ---------------- --------------- -------------- -------------- Total Investments 4,616 (2,521) 2,521 1,585 2,958 ---------------- ---------------- --------------- -------------- -------------- OTHER ASSETS Long-term receivables 10 -- -- 10 -- Deferred project costs 84 -- -- 82 -- Prepaid pension costs 8 -- (2) 2 1 Goodwill 628 -- -- 576 -- Derivative asset 39 -- 39 -- Other 23 (12) 13 11 -- ---------------- ---------------- --------------- -------------- -------------- Total Other Assets 793 (12) 15 719 1 ---------------- ---------------- --------------- -------------- -------------- TOTAL ASSETS $ 7,439 $ ( 5,033) $ 4,536 $ 4,074 $ 3,026 ================ ================ =============== ============== ============== PSEG ENERGY PSEG TECHNOLOGIES EGDC CAPITAL ECFC -------------- -------------- --------------- --------------- ASSETS CURRENT ASSETS Cash and temporary cash investments $ -- $ -- $ -- $ -- Accounts receivable: Trade 120 -- -- -- Allowance for doubtful accounts (5) -- -- -- Other 1 -- -- -- PSEG Service Corp -- -- -- -- PSE&G -- -- -- -- PSEG -- -- -- -- Other associated companies -- -- 25 -- Notes receivable: Associated companies -- 1 455 -- Other 21 -- -- -- Interest and dividends receivable 2 -- -- -- Inventory 1 -- -- -- Cost and earnings in excess of billings 19 -- -- -- Assets held for sale -- 23 -- -- Restricted cash -- -- -- -- Prepayments 1 -- -- -- -------------- -------------- --------------- --------------- Total Current Assets 158 24 481 -- -------------- -------------- --------------- --------------- PROPERTY AND EQUIPMENT Real estate -- 17 -- -- Generation assets -- -- -- -- Furniture and equipment 27 -- -- -- Construction work in progress 1 -- -- -- Other 17 -- -- -- Accum. depr. and amortization (32) -- -- -- Valuation allowances -- -- -- -- -------------- -------------- --------------- --------------- Property and Equipment-net 13 17 -- -- -------------- -------------- --------------- --------------- INVESTMENTS Subsidiaries -- -- -- -- Capital lease agreements -- -- -- -- Limited partnerships -- -- -- -- General partnerships -- 34 -- -- Corporate joint ventures 3 -- -- -- Securities -- -- -- -- DSM investments 47 -- -- -- Other investments 4 -- -- -- Valuation allowances -- (14) -- -- -------------- -------------- --------------- --------------- Total Investments 54 20 -- -- -------------- -------------- --------------- --------------- OTHER ASSETS Long-term receivables -- -- -- -- Deferred project costs 2 -- -- -- Prepaid pension costs 2 -- -- -- Goodwill 53 -- -- -- Derivative asset -- -- -- -- Other 7 4 -- -- -------------- -------------- --------------- --------------- Total Other Assets 64 4 -- -- -------------- -------------- --------------- --------------- TOTAL ASSETS $ 290 $ 65 $ 481 $ -- ============== ============== =============== ===============
PSEG ENERGY HOLDINGS INC. CONSOLIDATING BALANCE SHEET DECEMBER 31, 2001 PSEG INTERCOMPANY (MILLIONS OF DOLLARS) ENERGY HOLDINGS ELIMINATIONS PSEG PSEG PSEG CONSOL. & RECLASS. ENERGY HOLDINGS GLOBAL RESOURCES --------------- --------------- ---------------- ------------- ------------- LIABILITIES AND STOCKHOLDER'S EQUITY CURRENT LIABILITIES Accounts payable: Trade $ 100 $ -- $ -- $ 63 $ -- Taxes 21 -- -- 21 -- Other 66 -- 1 44 4 Interest 49 -- 36 11 1 Associated companies 49 (113) 9 38 105 Billings in excess of costs and earnings 19 -- -- -- -- Notes payable: PSEG Capital Corporation -- (455) -- 185 258 PSEG Energy Holdings -- (1,931) -- 986 924 Enterprise Group Development Corp. -- (1) -- -- -- Enterprise Capital Funding Corp. -- -- -- -- -- Borrowings under lines of credit 300 -- 300 -- -- Other 322 -- 38 285 -- Current portion of long-term debt 270 -- -- 42 1 --------------- --------------- ---------------- ------------- ------------- Total Current Liabilities 1,197 (2,500) 384 1,674 1,293 --------------- --------------- ---------------- ------------- ------------- TOTAL LONG-TERM DEBT 2,640 -- 1,644 721 22 --------------- --------------- ---------------- ------------- ------------- DEFERRED CREDITS Deferred income taxes 1,203 (12) (4) 19 1,199 Deferred investment and energy tax credits 8 -- -- 8 -- Deferred revenues 22 -- -- 22 -- Derivitive liability 63 63 Other long-term payables 16 -- 3 7 1 --------------- --------------- ---------------- ------------- ------------- Total Deferred Taxes and Other Liabilities 1,312 (12) (1) 119 1,200 --------------- --------------- ---------------- ------------- ------------- MINORITY INTERESTS 66 -- -- 66 -- --------------- --------------- ---------------- ------------- ------------- STOCKHOLDER'S EQUITY Common stock -- (171) -- 63 107 Preferred stock 509 (509) 509 375 134 Additional paid-in capital 1,490 (1,511) 1,490 1,104 -- Retained earnings 510 (330) 510 237 270 Accumulated Other Comprehensive Loss (285) -- -- (284) -- --------------- --------------- ---------------- ------------- ------------- Total Stockholder's Equity 2,224 (2,521) 2,509 1,495 511 --------------- --------------- ---------------- ------------- ------------- TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY $ 7,439 $ (5,033) $ 4,536 $ 4,074 $ 3,026 =============== =============== ================ ============= ============= PSEG ENERGY HOLDINGS INC. CONSOLIDATING BALANCE SHEET DECEMBER 31, 2001 PSEG (MILLIONS OF DOLLARS) ENERGY PSEG TECHNOLOGIES EGDC CAPITAL ECFC --------------- ------------- --------------- ------------- LIABILITIES AND STOCKHOLDER'S EQUITY CURRENT LIABILITIES Accounts payable: Trade $ 38 $ -- $ -- $ -- Taxes -- -- -- -- Other 16 -- -- -- Interest -- -- -- -- Associated companies 9 1 -- -- Billings in excess of costs and earnings 19 -- -- -- Notes payable: PSEG Capital Corporation 12 -- -- -- PSEG Energy Holdings 21 -- -- -- Enterprise Group Development Corp. -- -- 1 -- Enterprise Capital Funding Corp. -- -- -- -- Borrowings under lines of credit -- -- -- -- Other -- -- -- -- Current portion of long-term debt -- -- 228 -- --------------- ------------- --------------- ------------- Total Current Liabilities 116 1 229 -- --------------- ------------- --------------- ------------- TOTAL LONG-TERM DEBT 1 -- 252 -- --------------- ------------- --------------- ------------- DEFERRED CREDITS Deferred income taxes 1 -- -- -- Deferred investment and energy tax credits -- -- -- -- Deferred revenues -- -- -- -- Derivitive liability Other long-term payables 5 -- -- -- --------------- ------------- --------------- ------------- Total Deferred Taxes and Other Liabilities 6 -- -- -- --------------- ------------- --------------- ------------- MINORITY INTERESTS -- -- -- -- --------------- ------------- --------------- ------------- STOCKHOLDER'S EQUITY Common stock -- 1 -- -- Preferred stock -- -- -- -- Additional paid-in capital 243 164 -- -- Retained earnings (77) (101) -- -- Accumulated Other Comprehensive Loss -- -- -- -- --------------- ------------- --------------- ------------- Total Stockholder's Equity 167 63 --------------- ------------- --------------- ------------- TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY $ 290 $ 65 $ 481 $ -- =============== ============= =============== =============
PSEG GLOBAL INC. CONSOLIDATING STATEMENT OF INCOME FOR THE YEAR ENDING DECEMBER 31, 2001 ($ IN THOUSANDS)
PSEG PSEG INTERCOMPANY GLOBAL HOLDING GLOBAL ELIMINATIONS PSEG PSEG USA COMPANY PSEG NJ CONSOL. & RECLASS. GLOBAL CONSOL. CONSOL. CONSOL. ----------- ------------ ----------- ---------- --------------- ---------- REVENUES: Income from partnerships $ 142,679 $ (3) $ 81 $ 75,022 $ 67,579 $ - Income from capital lease agreements - - - - - - Gain on Withdrawal from Partnership 76,161 - - 24,919 667 50,575 Interest and dividend income 45,917 242 - 15,804 15,447 14,424 Other 15,108 3 27 1,334 13,744 - Electric Revenues Generation 78,681 78,681 Distribution 93,205 93,205 Equity in subsidiary earnings - (170,457) 170,457 - - - ----------- ------------ ----------- ---------- --------------- ---------- Total Revenues 451,751 (170,215) 170,565 117,079 269,323 64,999 ----------- ------------ ----------- ---------- --------------- ---------- OPERATING EXPENSES: Operation and maintenance 28,517 - - - 28,517 - Write-off of Investments 6,937 6,937 Depreciation and amortization 15,211 - 591 706 13,914 - Electric and Energy Costs 84,829 - 84,829 Administrative and general 57,370 (23) 21,816 19,732 14,560 1,285 ----------- ------------ ----------- ---------- --------------- ---------- Total Operating Expenses 192,864 (23) 22,407 20,438 148,757 1,285 ----------- ------------ ----------- ---------- --------------- ---------- OPERATING INCOME 258,887 (170,192) 148,158 96,641 120,566 63,714 ----------- ------------ ----------- ---------- --------------- ---------- OTHER INCOME Foreign currency Translation Gain/Loss (6,024) 5 - (5,801) (228) - Change in Derivative Fair Value - FAS 133 (238) (238) Realized gains (losses) on investments 155 5 (801) 951 - Other 135 226 (91) - - ----------- ------------ ----------- ---------- --------------- ---------- Total Other Income (5,972) 5 231 (6,693) 485 - ----------- ------------ ----------- ---------- --------------- ---------- INTEREST EXPENSE: PSEG Capital Corporation 12,297 - 11,910 271 - 116 PSEG Energy Holdings 55,866 - 54,049 692 835 290 Enterprise Capital Funding Corp. - - - - - Other Associated Companies (6) - 2 (8) - - Other 31,686 270 (317) 11,673 20,060 - Capitalized interest (16,127) - (15,445) - (682) - ----------- ------------ ----------- ---------- --------------- ---------- Net Interest Expense 83,715 270 50,199 12,628 20,213 405 ----------- ------------ ----------- ---------- --------------- ---------- INCOME BEFORE INCOME TAXES 169,200 (170,457) 98,190 77,320 100,838 63,309 ----------- ------------ ----------- ---------- --------------- ---------- INCOME TAXES: Current 24,878 - (34,608) 26,764 39 32,683 Deferred 7,780 - 101 (1,419) 16,671 (7,573) Foreign Taxes 7,212 7,212 Investment and energy tax credits - net (459) - (25) (434) - - ----------- ------------ ----------- ---------- --------------- ---------- Total Income Taxes 39,411 - (34,532) 24,911 23,922 25,110 ----------- ------------ ----------- ---------- --------------- ---------- MINORITY INTERESTS 4,237 - - 1 4,236 - ----------- ------------ ----------- ---------- --------------- ---------- INCOME BEFORE EXTRAORDINARY ITEM AND CUMULATIVE EFFECT OF A CHANGE IN ACCOUNTING PRINCIPLE 125,552 (170,457) 132,722 52,408 72,680 38,199 ----------- ------------ ----------- ---------- --------------- ---------- Extraordinary Loss on Early Retirement of Debt (net of tax) (1,679) (1,679) - Cumulative Effect of a Change in Accounting Principle 8,849 - 8,849 ----------- ------------ ----------- ---------- --------------- ---------- NET INCOME 132,722 (170,457) 132,722 50,729 81,529 38,199 ----------- ------------ ----------- ---------- --------------- ---------- Preferred Dividend Requirement 16,763 - 16,763 - - ----------- ------------ ----------- ---------- --------------- ---------- EARNINGS AVAIABLE TO COMMON STOCK $ 115,959 $ (170,457) $ 115,959 $ 50,729 $ 81,529 $ 38,199 =========== ============ =========== ========== =============== ==========
PSEG GLOBAL INC. CONSOLIDATING STATEMENT OF RETAINED EARNINGS FOR THE YEAR ENDING DECEMBER 31, 2001 ($ IN THOUSANDS)
PSEG PSEG INTERCOMPANY GLOBAL HOLDING GLOBAL ELIMINATIONS PSEG PSEG USA COMPANY PSEG NJ CONSOL. & RECLASS. GLOBAL CONSOL. CONSOL. CONSOL. -------------- -------------- -------------- ------------- ------------------ ------------ BALANCE JANUARY 1, 2001 $ 124,414 $ (233,296) $ 124,414 $ 65,383 $ 66,927 $ 100,986 NET INCOME 132,722 (147,578) 132,722 50,729 81,529 38,199 -------------- -------------- -------------- ------------- ------------------ ------------ TOTAL 257,136 (380,874) 257,136 116,112 148,456 139,185 -------------- -------------- -------------- ------------- ------------------ ------------ DIVIDENDS DECLARED 20,004 - 20,004 - - - -------------- -------------- -------------- ------------- ------------------ ------------ -------------- -------------- -------------- ------------- ------------------ ------------ BALANCE DECEMBER 31, 2001 $ 237,132 $ (380,874) $ 237,132 $ 116,112 $ 148,456 $ 139,185 ============== ============== ============== ============= ================== ============
PSEG GLOBAL INC. CONSOLIDATING BALANCE SHEET DECEMBER 31, 2001 ($ IN THOUSANDS)
PSEG PSEG INTERCOMPANY GLOBAL HOLDING GLOBAL ELIMINATIONS PSEG PSEG USA COMPANY PSEG NJ CONSOL. & RECLASS. GLOBAL CONSOL. CONSOL. CONSOL. -------------- -------------- ------------- ------------- --------------- ------------ ASSETS CURRENT ASSETS Cash and temporary cash investments $ 51,971 $ - $ 142 $ 10,827 $ 41,002 $ - Accounts and Notes receivable: - Trade 129,801 - 848 7,647 121,260 46 Other 16,663 - 113 51 16,500 (1) Service Corp 1,093 - 712 - 381 PSEG 18,763 - 18,762 1 - PSEG Power 241 - 165 76 - PSEG Energy Holdings 5 - (501) 40 466 - Other associated companies 3 (2,090,160) 390,754 1,001,982 530,625 166,802 Notes receivable: - - Associated companies - - - - - - Other 4,673 - - 4,673 - Interest receivable 7 - - 7 - Assets held for sale 399,188 - 5,820 67,319 326,049 - Restricted Cash - - Prepayments 1,441 - 174 499 768 - Inventory 17,785 17,785 - -------------- -------------- ------------- ------------- --------------- ------------ Total Current Assets 641,634 (2,090,160) 416,989 1,088,442 1,059,516 166,847 -------------- -------------- ------------- ------------- --------------- ------------ PROPERTY, PLANT AND EQUIPMENT Real estate and Plant 877,179 - - 54,797 822,382 - Other 388,604 - 3,807 3,740 381,057 - Accum. depr. and amortization (136,743) - (798) (1,082) (134,863) - Valuation allowances - - - - - - -------------- -------------- ------------- ------------- --------------- ------------ Property, Plant and Equipment-net 1,129,040 - 3,009 57,455 1,068,576 - -------------- -------------- ------------- ------------- --------------- ------------ INVESTMENTS Subsidiaries - (2,626,803) 2,626,803 - - - Capital lease agreements - - - - - - Partnership interests 476,177 - 14,974 461,210 (7) - Corporate joint ventures 1,108,528 - 18,944 180,498 909,086 - Securities - - - - - - Valuation allowances - - - - - - -------------- -------------- ------------- ------------- --------------- ------------ Total Investments 1,584,705 (2,626,803) 2,660,721 641,708 909,079 - -------------- -------------- ------------- ------------- --------------- ------------ OTHER ASSETS Goodwill 575,584 - - - 575,584 Derivative Asset 38,659 38,659 Other 104,817 - 4,165 27,996 72,656 - -------------- -------------- ------------- ------------- --------------- ------------ Total Other Assets 719,060 - 4,165 27,996 686,899 - -------------- -------------- ------------- ------------- --------------- ------------ TOTAL ASSETS $ 4,074,439 $ (4,716,963) $ 3,084,884 $ 1,815,601 $ 3,724,070 $ 166,847 ============== ============== ============= ============= =============== ============
PSEG GLOBAL INC. CONSOLIDATING BALANCE SHEET DECEMBER 31, 2001 ($ IN THOUSANDS)
PSEG PSEG INTERCOMPANY GLOBAL HOLDING GLOBAL ELIMINATIONS PSEG PSEG USA COMPANY PSEG NJ CONSOL. & RECLASS. GLOBAL CONSOL. CONSOL. CONSOL. ------------- -------------- ------------- ------------ --------------- ----------- LIABILITIES AND STOCKHOLDER'S EQUITY CURRENT LIABILITIES Accounts payable: Trade $ 62,932 $ - $ 488 $ 585 $ 61,859 $ - Taxes 20,649 - 4,192 2,614 7,363 6,480 Other 44,311 9,149 11,525 23,609 28 Interest 11,107 - - 948 10,159 - Associated companies 38,166 (2,090,160) 414,018 501,498 1,211,486 1,324 Notes payable: - - PSEG Capital Corporation 184,960 - 179,069 4,153 - 1,738 PSEG Energy Holdings 985,704 965,681 7,342 9,609 3,072 Other 284,597 - - - 284,597 - Current portion of long-term debt 41,703 - - - 41,703 - ------------- -------------- ------------- ------------ --------------- ----------- Total Current Liabilities 1,674,129 (2,090,160) 1,572,597 528,665 1,650,385 12,642 ------------- -------------- ------------- ------------ --------------- ----------- TOTAL LONG-TERM DEBT 721,379 - - 161,600 559,779 - ------------- -------------- ------------- ------------ --------------- ----------- DEFERRED CREDITS Deferred income taxes 18,965 12,276 6,694 301 (306) Deferred investment - - and energy tax credits 7,999 - 1,011 6,988 - - Derivative Liability 62,915 62,915 Other 28,965 - 4,458 15,997 8,510 - ------------- -------------- ------------- ------------ --------------- ----------- Total Deferred Credits 118,844 - 17,745 29,679 71,726 (306) ------------- -------------- ------------- ------------ --------------- ----------- MINORITY INTEREST 65,545 - - (21) 65,566 ------------- -------------- ------------- ------------ --------------- ----------- STOCKHOLDER'S EQUITY Capital stock 437,880 (20) 437,880 10 - 10 Stock Subs Payable - - - - - - Contributed capital 1,103,937 (2,497,468) 1,103,937 991,190 1,490,962 15,316 Retained earnings 237,132 (403,753) 237,132 116,112 148,456 139,185 Other Comprehensive Income (26,235) 26,235 (26,235) (9,013) (17,222) Cumulative Translation Adjustment (258,172) 248,203 (258,172) (2,621) (245,582) - ------------- -------------- ------------- ------------ --------------- ----------- Total Stockholder's Equity 1,494,542 (2,626,803) 1,494,542 1,095,678 1,376,614 154,511 ------------- -------------- ------------- ------------ --------------- ----------- TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY $ 4,074,439 $ (4,716,963) $ 3,084,884 $1,815,601 $ 3,724,070 $ 166,847 ============= ============== ============= ============ =============== ===========
PSEG USA CONSOLIDATING STATEMENT OF INCOME FOR THE YEAR ENDING DECEMBER 31, 2001 ($ IN THOUSANDS)
INTERCOMPANY PSEG USA ELIMINATIONS PSEG PSEG CONSOL. & RECLASS. USA CONEMAUGH ------------- ---------------- ------------ ----------- REVENUES: Income from partnerships $ 75,022 $ - $ 31,936 $ - Income from capital lease agreements - - - - Gain on Withdrawal from Partnership 24,919 - - Realized gains (losses) on investments - - - - Interest and dividend income 15,804 - - - Other 1,334 - - - Equity in subsidiary earnings - (37,823) 37,824 - ------------- ---------------- ------------ ----------- TOTAL REVENUES 117,079 (37,823) 69,760 - ------------- ---------------- ------------ ----------- OPERATING EXPENSES: Operation and maintenance - - - - Depreciation and amortization 706 - 201 - Administrative and general 19,732 - 10,330 1 ------------- ---------------- ------------ ----------- TOTAL OPERATING EXPENSES 20,438 - 10,531 1 ------------- ---------------- ------------ ----------- OPERATING INCOME 96,641 (37,823) 59,229 (1) ------------- ---------------- ------------ ----------- OTHER INCOME Foreign currency Translation Gain/Loss (5,801) - - - Other (91) Gain on sale (801) (801) ------------- ---------------- ------------ ----------- TOTAL OTHER INCOME (6,693) - (801) - ------------- ---------------- ------------ ----------- INTEREST EXPENSE: PSEG Capital Corporation 271 - 271 - Energy Holdings 692 - 692 - Other Associated Companies (8) - (8) - Other 11,673 - (47) - Capitalized interest - - - ------------- ---------------- ------------ ----------- NET INTEREST EXPENSE 12,628 - 908 - ------------- ---------------- ------------ ----------- INCOME BEFORE INCOME TAXES 77,320 (37,823) 57,520 (1) ------------- ---------------- ------------ ----------- INCOME TAXES: Current 26,764 - 10,808 853 Deferred (1,419) - (3,658) (718) Investment and energy tax credits - net (434) - (359) - ------------- ---------------- ------------ ----------- TOTAL INCOME TAXES 24,911 - 6,791 135 ------------- ---------------- ------------ ----------- MINORITY INTERESTS 1 1 - - ------------- ---------------- ------------ ----------- INCOME BEFORE EXTRAORDINARY ITEM AND CUMULATIVE EFFECT OF A CHANGE IN ACCOUNTING PRINCIPLE 52,408 (37,824) 50,729 (136) ------------- ---------------- ------------ ----------- Extraordinary Loss on Early Retirement of Debt (net of tax) (1,679) Cumulative Effect of a Change in Accounting Principle - ------------- ---------------- ------------ ----------- NET INCOME $ 50,729 $ (37,824) $ 50,729 $ (136) ============= ================ ============ ===========
PSEG USA CONSOLIDATING STATEMENT OF INCOME FOR THE YEAR ENDING DECEMBER 31, 2001 ($ IN THOUSANDS)
PSEG PSEG PSEG PROJECT GWF PSEG TRACY SERVICES CONSOL. LEASING ------------- ---------------- ------------ ----------- REVENUES: Income from partnerships $ 335 $ - $ 325 $ - Income from capital lease agreements - - - - Gain on Withdrawal from Partnership - - - - Realized gains (losses) on investments - - - - Interest and dividend income - - - - Other 308 - - - Equity in subsidiary earnings - - - - ------------- ---------------- ------------ ----------- TOTAL REVENUES 643 - 325 - ------------- ---------------- ------------ ----------- OPERATING EXPENSES: Operation and maintenance - - - - Depreciation and amortization - - - - Administrative and general 232 1 15 2 ------------- ---------------- ------------ ----------- ---------------- TOTAL OPERATING EXPENSES 232 1 15 2 ------------- ---------------- ------------ ----------- OPERATING INCOME 411 (1) 310 (2) ------------- ---------------- ------------ ----------- OTHER INCOME Foreign currency Translation Gain/Loss - - - - Other Gain on sale ------------- ---------------- ------------ ----------- TOTAL OTHER INCOME - - - - ------------- ---------------- ------------ ----------- INTEREST EXPENSE: PSEG Capital Corporation - - - - Energy Holdings - - - - Other Associated Companies - - - - Other - - - - Capitalized interest - - - - ------------- ---------------- ------------ ----------- NET INTEREST EXPENSE - - - - ------------- ---------------- ------------ ----------- INCOME BEFORE INCOME TAXES 411 (1) 310 (2) ------------- ---------------- ------------ ----------- INCOME TAXES: Current 976 54 178 2 Deferred (808) (54) (43) - Investment and energy tax credits - net - - - - ------------- ---------------- ------------ ----------- TOTAL INCOME TAXES 168 - 135 2 ------------- ---------------- ------------ ----------- MINORITY INTERESTS - - - - ------------- ---------------- ------------ ----------- INCOME BEFORE EXTRAORDINARY ITEM AND CUMULATIVE EFFECT OF A CHANGE IN ACCOUNTING PRINCIPLE 243 (1) 175 (4) ------------- ---------------- ------------ ----------- Extraordinary Loss on Early Retirement of Debt (net of tax) Cumulative Effect of a Change in Accounting Principle ------------- ---------------- ------------ ----------- NET INCOME $ 243 $ (1) $ 175 $ (4) ============= ================ ============ ===========
PSEG USA CONSOLIDATING STATEMENT OF INCOME FOR THE YEAR ENDING DECEMBER 31, 2001 ($ IN THOUSANDS)
PSEG PSEG PSEG PSEG INDIA DEBLOIS MOUNT HENRIETTA PRIVATE INVESTMENT CARMEL TURBINE LTD. ------------- ---------------- ------------ ----------- REVENUES: Income from partnerships $ - $ - $ - $ - Income from capital lease agreements - - - - Gain on Withdrawal from Partnership - - - - Realized gains (losses) on investments - - - - Interest and dividend income - - - - Other - - - - Equity in subsidiary earnings - - - - ------------- ---------------- ------------ ----------- TOTAL REVENUES - - - - ------------- ---------------- ------------ ----------- OPERATING EXPENSES: Operation and maintenance - - - - Depreciation and amortization - - - 98 Administrative and general - - 1 2,923 ------------- ---------------- ------------ ----------- TOTAL OPERATING EXPENSES - - 1 3,021 ------------- ---------------- ------------ ----------- OPERATING INCOME - - (1) (3,021) ------------- ---------------- ------------ ----------- OTHER INCOME Foreign currency Translation Gain/Loss - - - (7) Other Gain on sale ------------- ---------------- ------------ ----------- TOTAL OTHER INCOME - - - (7) ------------- ---------------- ------------ ----------- INTEREST EXPENSE: PSEG Capital Corporation - - - - Energy Holdings - - - - Other Associated Companies - - - - Other - - - - Capitalized interest - - - - ------------- ---------------- ------------ ----------- NET INTEREST EXPENSE - - - - ------------- ---------------- ------------ ----------- INCOME BEFORE INCOME TAXES - - (1) (3,028) ------------- ---------------- ------------ ----------- INCOME TAXES: Current - 451 - - Deferred - (403) - - Investment and energy tax credits - net - - - - ------------- ---------------- ------------ ----------- TOTAL INCOME TAXES - 48 - - ------------- ---------------- ------------ ----------- MINORITY INTERESTS - - - - ------------- ---------------- ------------ ----------- INCOME BEFORE EXTRAORDINARY ITEM AND CUMULATIVE EFFECT OF A CHANGE IN ACCOUNTING PRINCIPLE - (48) (1) (3,028) ------------- ---------------- ------------ ----------- Extraordinary Loss on Early Retirement of Debt (net of tax) Cumulative Effect of a Change in Accounting Principle ------------- ---------------- ------------ ----------- NET INCOME $ - $ (48) $ (1) $ (3,028) ============= ================ ============ ===========
PSEG USA CONSOLIDATING STATEMENT OF INCOME FOR THE YEAR ENDING DECEMBER 31, 2001 ($ IN THOUSANDS)
PSEG PSEG ASIA PSEG INTERNATIONAL INC. BAJA CEMAS SERVICES CONSOL. ------------- ---------------- ------------ ----------- REVENUES: Income from partnerships $ - $ 2,506 $ - $ - Income from capital lease agreements - - - - Gain on Withdrawal from Partnership 24,919 - - - Realized gains (losses) on investments - - - - Interest and dividend income - 87 - - Other - 145 - - Equity in subsidiary earnings - - - - ------------- ---------------- ------------ ----------- TOTAL REVENUES 24,919 2,738 - - ------------- ---------------- ------------ ----------- OPERATING EXPENSES: Operation and maintenance - - - - Depreciation and amortization - - - - Administrative and general - 7 1,125 611 ------------- ---------------- ------------ ----------- TOTAL OPERATING EXPENSES - 7 1,125 611 ------------- ---------------- ------------ ----------- OPERATING INCOME 24,919 2,731 (1,125) (611) ------------- ---------------- ------------ ----------- OTHER INCOME Foreign currency Translation Gain/Loss - - 3 1 Other Gain on sale - ------------- ---------------- ------------ ----------- TOTAL OTHER INCOME - - 3 1 ------------- ---------------- ------------ ----------- INTEREST EXPENSE: PSEG Capital Corporation - - - - Energy Holdings - - - - Other Associated Companies - - - - Other - - - - Capitalized interest - - - - ------------- ---------------- ------------ ----------- NET INTEREST EXPENSE - - - - ------------- ---------------- ------------ ----------- INCOME BEFORE INCOME TAXES 24,919 2,731 (1,122) (610) ------------- ---------------- ------------ ----------- INCOME TAXES: Current 10,179 - (110) (29) Deferred - - 110 25 Investment and energy tax credits - net - - - - ------------- ---------------- ------------ ----------- TOTAL INCOME TAXES 10,179 - - (4) ------------- ---------------- ------------ ----------- MINORITY INTERESTS - - - - ------------- ---------------- ------------ ----------- INCOME BEFORE EXTRAORDINARY ITEM AND CUMULATIVE EFFECT OF A CHANGE IN ACCOUNTING PRINCIPLE 14,740 2,731 (1,122) (606) ------------- ---------------- ------------ ----------- Extraordinary Loss on Early Retirement of Debt (net of tax) Cumulative Effect of a Change in Accounting Principle ------------- ---------------- ------------ ----------- NET INCOME $ 14,740 $ 2,731 $ (1,122) $ (606) ============= ================ ============ ===========
PSEG USA CONSOLIDATING STATEMENT OF INCOME FOR THE YEAR ENDING DECEMBER 31, 2001 ($ IN THOUSANDS)
PSEG PSEG PSEG PSEG AMERICAS INTERNATIONAL INDIA US SERVICES DEVELOPMENT INC. INC. INC. CO. LLC CONSOL. ------------- ---------------- ------------ ----------- REVENUES: Income from partnerships $ - $ - $ - $ 30,561 Income from capital lease agreements - - - - Gain on Withdrawal from Partnership - - - - Realized gains (losses) on investments - - - - Interest and dividend income - - - 15,717 Other - - - 99 Equity in subsidiary earnings - - - (1) ------------- ---------------- ------------ ----------- TOTAL REVENUES - - - 46,376 ------------- ---------------- ------------ ----------- OPERATING EXPENSES: Operation and maintenance - - - - Depreciation and amortization 18 - - 389 Administrative and general - 103 - 4,265 ------------- ---------------- ------------ ----------- TOTAL OPERATING EXPENSES 18 103 - 4,654 ------------- ---------------- ------------ ----------- OPERATING INCOME (18) (103) - 41,722 ------------- ---------------- ------------ ----------- OTHER INCOME Foreign currency Translation Gain/Loss - - - (5,798) Other (91) Gain on sale - ------------- ---------------- ------------ ----------- TOTAL OTHER INCOME - - - (5,889) ------------- ---------------- ------------ ----------- INTEREST EXPENSE: PSEG Capital Corporation - - - - Energy Holdings - - - - Other Associated Companies - - - - Other - - - 11,649 Capitalized interest - - - - ------------- ---------------- ------------ ----------- NET INTEREST EXPENSE - - - 11,649 ------------- ---------------- ------------ ----------- INCOME BEFORE INCOME TAXES (18) (103) - 24,184 ------------- ---------------- ------------ ----------- INCOME TAXES: Current 428 (36) - 537 Deferred (434) - - 3,335 Investment and energy tax credits - net - - - - ------------- ---------------- ------------ ----------- TOTAL INCOME TAXES (6) (36) - 3,872 ------------- ---------------- ------------ ----------- MINORITY INTERESTS - - - - ------------- ---------------- ------------ ----------- INCOME BEFORE EXTRAORDINARY ITEM AND CUMULATIVE EFFECT OF A CHANGE IN ACCOUNTING PRINCIPLE (12) (67) - 20,312 ------------- ---------------- ------------ ----------- Extraordinary Loss on Early Retirement of Debt (net of tax) (1,679) Cumulative Effect of a Change in Accounting Principle - ------------- ---------------- ------------ ----------- NET INCOME $ (12) $ (67) $ - $ 18,633 ============= ================ ============ ===========
PSEG USA CONSOLIDATING STATEMENT OF INCOME FOR THE YEAR ENDING DECEMBER 31, 2001 ($ IN THOUSANDS)
PSEG PSEG PSEG PSEG NEW HAWAIIAN HAWAIIAN KALAELOA HAMPSHIRE MGT. INVESTMENT INC. ------------- ---------------- ------------ ----------- REVENUES: Income from partnerships $ 5,457 $ 76 $ 3,547 $ 74 Income from capital lease agreements - - - - Gain on Withdrawal from Partnership - - - - Realized gains (losses) on investments - - - - Interest and dividend income - - - - Other 147 - - 635 Equity in subsidiary earnings - - - - ------------- ---------------- ------------ ----------- TOTAL REVENUES 5,604 76 3,547 709 ------------- ---------------- ------------ ----------- OPERATING EXPENSES: Operation and maintenance - - - - Depreciation and amortization - - - - Administrative and general 135 - 1 (20) ------------- ---------------- ------------ ----------- TOTAL OPERATING EXPENSES 135 - 1 (20) ------------- ---------------- ------------ ----------- OPERATING INCOME 5,469 76 3,546 729 ------------- ---------------- ------------ ----------- OTHER INCOME Foreign currency Translation Gain/Loss - - - - Other Gain on sale ------------- ---------------- ------------ ----------- TOTAL OTHER INCOME - - - - ------------- ---------------- ------------ ----------- INTEREST EXPENSE: PSEG Capital Corporation - - - - Energy Holdings - - - - Other Associated Companies - - - - Other - - - - Capitalized interest - - - - ------------- ---------------- ------------ ----------- NET INTEREST EXPENSE - - - - ------------- ---------------- ------------ ----------- INCOME BEFORE INCOME TAXES 5,469 76 3,546 729 ------------- ---------------- ------------ ----------- INCOME TAXES: Current 1,869 7 262 300 Deferred 71 23 1,127 8 Investment and energy tax credits - net (75) - - - ------------- ---------------- ------------ ----------- TOTAL INCOME TAXES 1,865 30 1,389 308 ------------- ---------------- ------------ ----------- MINORITY INTERESTS - - - - ------------- ---------------- ------------ ----------- INCOME BEFORE EXTRAORDINARY ITEM AND CUMULATIVE EFFECT OF A CHANGE IN ACCOUNTING PRINCIPLE 3,604 46 2,157 421 ------------- ---------------- ------------ ----------- Extraordinary Loss on Early Retirement of Debt (net of tax) Cumulative Effect of a Change in Accounting Principle ------------- ---------------- ------------ ----------- NET INCOME $ 3,604 $ 46 $ 2,157 $ 421 ============= ================ ============ ===========
PSEG USA CONSOLIDATING STATEMENT OF INCOME FOR THE YEAR ENDING DECEMBER 31, 2001 ($ IN THOUSANDS)
PSEG PSEG CHILQUINTA PSEG MIDWEST FINANCE SVILUPPO PSEG OPERATING LLC SRL POLSKA CO. INC. ------------- ---------------- ------------ ----------- REVENUES: Income from partnerships $ 205 $ - $ - $ - Income from capital lease agreements - - - - Gain on Withdrawal from Partnership - - - - Realized gains (losses) on investments - - - - Interest and dividend income - - - - Other - - - - Equity in subsidiary earnings - - - - ------------- ---------------- ------------ ----------- TOTAL REVENUES 205 - - - ------------- ---------------- ------------ ----------- OPERATING EXPENSES: Operation and maintenance - - - - Depreciation and amortization - - - - Administrative and general - - - - ------------- ---------------- ------------ ----------- TOTAL OPERATING EXPENSES - - - - ------------- ---------------- ------------ ----------- OPERATING INCOME 205 - - - ------------- ---------------- ------------ ----------- OTHER INCOME Foreign currency Translation Gain/Loss - - - - Other Gain on sale ------------- ---------------- ------------ ----------- TOTAL OTHER INCOME - - - - ------------- ---------------- ------------ ----------- INTEREST EXPENSE: PSEG Capital Corporation - - - - Energy Holdings - - - - Other Associated Companies - - - - Other 71 - - - Capitalized interest - - - - ------------- ---------------- ------------ ----------- NET INTEREST EXPENSE 71 - - - ------------- ---------------- ------------ ----------- INCOME BEFORE INCOME TAXES 134 - - - ------------- ---------------- ------------ ----------- INCOME TAXES: Current 35 - - - Deferred - - - - Investment and energy tax credits - net - - - - ------------- ---------------- ------------ ----------- TOTAL INCOME TAXES 35 - - - ------------- ---------------- ------------ ----------- MINORITY INTERESTS - - - - ------------- ---------------- ------------ ----------- INCOME BEFORE EXTRAORDINARY ITEM AND CUMULATIVE EFFECT OF A CHANGE IN ACCOUNTING PRINCIPLE 99 - - - ------------- ---------------- ------------ ----------- Extraordinary Loss on Early Retirement of Debt (net of tax) Cumulative Effect of a Change in Accounting Principle ------------- ---------------- ------------ ----------- NET INCOME $ 99 $ - $ - $ - ============= ================ ============ ===========
PSEG USA CONSOLIDATING STATEMENT OF RETAINED EARNINGS FOR THE YEAR ENDING DECEMBER 31, 2001 ($ IN THOUSANDS)
INTERCOMPANY PSEG USA ELIMINATIONS PSEG PSEG CONSOL. & RECLASS. USA CONEMAUGH ------------- ---------------- ------------ ------------ BALANCE JANUARY 1, 2001 $ 65,383 $ (12,163) $ 65,384 $ (387) NET INCOME 50,729 (37,824) 50,729 (136) ------------- ---------------- ------------ ------------ TOTAL 116,112 (49,987) 116,113 (523) ------------- ---------------- ------------ ------------ DIVIDENDS DECLARED - 26,275 - - ------------- ---------------- ------------ ------------ ------------- ---------------- ------------ ------------ BALANCE DECEMBER 31, 2001 $ 116,112 $ (76,262) $ 116,113 $ (523) ============= ================ ============ ============
PSEG USA CONSOLIDATING STATEMENT OF RETAINED EARNINGS FOR THE YEAR ENDING DECEMBER 31, 2001 ($ IN THOUSANDS)
PSEG PSEG PSEG PROJECT GWF PSEG TRACY SERVICES CONSOL. LEASING ------------- ---------------- ------------ ------------ BALANCE JANUARY 1, 2001 $ (4,213) $ (1,222) $ 14,563 $ (1,685) NET INCOME 243 (1) 175 (4) ------------- ---------------- ------------ ------------ TOTAL (3,970) (1,223) 14,738 (1,689) ------------- ---------------- ------------ ------------ DIVIDENDS DECLARED - - - - ------------- ---------------- ------------ ------------ ------------- ---------------- ------------ ------------ BALANCE DECEMBER 31, 2001 $ (3,970) $ (1,223) $ 14,738 $ (1,689) ============= ================ ============ ============
PSEG USA CONSOLIDATING STATEMENT OF RETAINED EARNINGS FOR THE YEAR ENDING DECEMBER 31, 2001 ($ IN THOUSANDS)
PSEG PSEG PSEG INDIA PSEG MOUNT HENRIETTA PRIVATE DEBLOIS CARMEL TURBINE LTD. ------------- ---------------- ------------ ------------ BALANCE JANUARY 1, 2001 $ (1,735) $ (2,479) $ (7) $ (2,033) NET INCOME - (48) (1) (3,028) ------------- ---------------- ------------ ------------ TOTAL (1,735) (2,527) (8) (5,061) ------------- ---------------- ------------ ------------ DIVIDENDS DECLARED - - - - ------------- ---------------- ------------ ------------ ------------- ---------------- ------------ ------------ BALANCE DECEMBER 31, 2001 $ (1,735) $ (2,527) $ (8) $ (5,061) ============= ================ ============ ============
PSEG USA CONSOLIDATING STATEMENT OF RETAINED EARNINGS FOR THE YEAR ENDING DECEMBER 31, 2001 ($ IN THOUSANDS)
PSEG PSEG ASIA PSEG INTERNATIONAL INC. BAJA CEMAS SERVICES CONSOL. ------------- ---------------- ------------ ------------ BALANCE JANUARY 1, 2001 $ (885) $ 13,144 $ (7,944) $ (14,153) NET INCOME 14,740 2,731 (1,122) (606) ------------- ---------------- ------------ ------------ TOTAL 13,855 15,875 (9,066) (14,759) ------------- ---------------- ------------ ------------ DIVIDENDS DECLARED - - - - ------------- ---------------- ------------ ------------ ------------- ---------------- ------------ ------------ BALANCE DECEMBER 31, 2001 $ 13,855 $ 15,875 $ (9,066) $ (14,759) ============= ================ ============ ============
PSEG USA CONSOLIDATING STATEMENT OF RETAINED EARNINGS FOR THE YEAR ENDING DECEMBER 31, 2001 ($ IN THOUSANDS)
PSEG PSEG PSEG PSEG AMERICAS INTERNATIONAL INDIA US SERVICES DEVELOPMENT INC. INC. INC. CO. LLC CONSOL. ------------- ---------------- ------------ ------------ BALANCE JANUARY 1, 2001 $ (1,841) $ (37) $ - $ (577) NET INCOME (12) (67) - 18,633 ------------- ---------------- ------------ ------------ TOTAL (1,853) (104) - 18,056 ------------- ---------------- ------------ ------------ DIVIDENDS DECLARED - - - (26,275) ------------- ---------------- ------------ ------------ ------------- ---------------- ------------ ------------ BALANCE DECEMBER 31, 2001 $ (1,853) $ (104) $ - $ 44,331 ============= ================ ============ ============
PSEG USA CONSOLIDATING STATEMENT OF RETAINED EARNINGS FOR THE YEAR ENDING DECEMBER 31, 2001 ($ IN THOUSANDS)
PSEG PSEG PSEG PSEG NEW HAWAIIAN HAWAIIAN KALAELOA HAMPSHIRE MGT. INVESTMENT INC. ------------- ---------------- ------------ ------------ BALANCE JANUARY 1, 2001 $ 17,756 $ (11) $ 5,443 $ 466 NET INCOME 3,604 46 2,157 421 ------------- ---------------- ------------ ------------ TOTAL 21,360 35 7,600 887 ------------- ---------------- ------------ ------------ DIVIDENDS DECLARED - - - - ------------- ---------------- ------------ ------------ ------------- ---------------- ------------ ------------ BALANCE DECEMBER 31, 2001 $ 21,360 $ 35 $ 7,600 $ 887 ============= ================ ============ ============
PSEG USA CONSOLIDATING STATEMENT OF RETAINED EARNINGS FOR THE YEAR ENDING DECEMBER 31, 2001 ($ IN THOUSANDS)
PSEG PSEG CHILQUINTA PSEG MIDWEST FINANCE SVILUPPO PSEG OPERATING LLC SRL POLSKA CO. INC. ------------- ---------------- ------------ ------------ BALANCE JANUARY 1, 2001 $ - $ - $ - $ - NET INCOME 99 - - - ------------- ---------------- ------------ ------------ TOTAL 99 - - - ------------- ---------------- ------------ ------------ DIVIDENDS DECLARED - - - - ------------- ---------------- ------------ ------------ ------------- ---------------- ------------ ------------ BALANCE DECEMBER 31, 2001 $ 99 $ - $ - $ - ============= ================ ============ ============
PSEG USA CONSOLIDATING BALANCE SHEET DECEMBER 31, 2000 ($ IN THOUSANDS)
INTERCOMPANY PSEG USA ELIMINATIONS PSEG PSEG CONSOL. & RECLASS. USA CONEMAUGH ------------- ---------------- ------------ ----------- ASSETS CURRENT ASSETS Cash and temporary cash investments $ 10,827 $ - $ - $ - Accounts and Notes receivable: Trade 7,647 (187) 541 - Other 51 - 28 - PSE&G - - - - PSEG 1 - 1 - PSEG Power 76 52 PSEG Energy Holdings 40 - - - Other associated companies 1,001,982 (252,277) 548,580 576 Notes receivable: - Associated companies - - - - Other - - - - Interest receivable - - - - Assets held for sale 67,319 203 Prepayments 499 - 95 - ------------- ---------------- ------------ ----------- Total Current Assets 1,088,442 (252,464) 549,500 576 ------------- ---------------- ------------ ----------- PROPERTY, PLANT AND EQUIPMENT Real estate 54,797 - 54,797 - Other 3,740 - 1,213 - Accum. depr. and amortization (1,082) - (451) - Valuation allowances - - - - ------------- ---------------- ------------ ----------- Property, Plant and Equipment-net 57,455 - 55,559 - ------------- ---------------- ------------ ----------- INVESTMENTS Subsidiaries - (638,244) 638,223 - Capital lease agreements - - - - Partnership interests 461,210 - 120,153 2 Corporate joint ventures 180,498 - 4,824 - Securities - - - - Valuation allowances - - - - ------------- ---------------- ------------ ----------- Total Investments 641,708 (638,244) 763,200 2 ------------- ---------------- ------------ ----------- OTHER ASSETS Long-term receivables - Other 27,996 (26) 4,052 - ------------- ---------------- ------------ ----------- Total Other Assets 27,996 (26) 4,052 - ------------- ---------------- ------------ ----------- TOTAL ASSETS $ 1,815,601 $ (890,734) $ 1,372,311 $ 578 ============= ================ ============ ===========
PSEG USA CONSOLIDATING BALANCE SHEET DECEMBER 31, 2000 ($ IN THOUSANDS)
PSEG PSEG PSEG PROJECT GWF PSEG TRACY SERVICES CONSOL. LEASING ------------- ---------------- ------------ ----------- ASSETS CURRENT ASSETS Cash and temporary cash investments $ - $ - $ - $ - Accounts and Notes receivable: Trade 485 - 1 - Other - - (1) - PSE&G - - - - PSEG - - - - PSEG Power PSEG Energy Holdings - - - Other associated companies 19 1 43,228 41,601 Notes receivable: Associated companies - - - - Other - - - - Interest receivable - - - - Assets held for sale Prepayments - 3 - - ------------- ---------------- ------------ ----------- Total Current Assets 504 4 43,228 41,601 ------------- ---------------- ------------ ----------- PROPERTY, PLANT AND EQUIPMENT Real estate - - - - Other - - - - Accum. depr. and amortization - - - - Valuation allowances - - - - ------------- ---------------- ------------ ----------- Property, Plant and Equipment-net - - - - ------------- ---------------- ------------ ----------- INVESTMENTS Subsidiaries - - - - Capital lease agreements - - - - Partnership interests - 7,580 1,438 (2,671) Corporate joint ventures - - - - Securities - - - - Valuation allowances - - - - ------------- ---------------- ------------ ----------- Total Investments - 7,580 1,438 (2,671) ------------- ---------------- ------------ ----------- OTHER ASSETS Long-term receivables Other - - - - ------------- ---------------- ------------ ----------- Total Other Assets - - - - ------------- ---------------- ------------ ----------- TOTAL ASSETS $ 504 $ 7,584 $ 44,666 $ 38,930 ============= ================ ============ ===========
PSEG USA CONSOLIDATING BALANCE SHEET DECEMBER 31, 2000 ($ IN THOUSANDS)
PSEG PSEG PSEG INDIA PSEG MOUNT HENRIETTA PRIVATE DEBLOIS CARMEL TURBINE LTD. ------------- ---------------- ------------ ----------- ASSETS CURRENT ASSETS Cash and temporary cash investments $ - $ - $ - $ 453 Accounts and Notes receivable: Trade - - 1 48 Other - - - - PSE&G - - - - PSEG - - - - PSEG Power PSEG Energy Holdings - - - - Other associated companies - (65) 9 1,546 Notes receivable: Associated companies - - - - Other - - - - Interest receivable - - - - Assets held for sale Prepayments - - - 13 ------------- ---------------- ------------ ----------- Total Current Assets - (65) 10 2,060 ------------- ---------------- ------------ ----------- PROPERTY, PLANT AND EQUIPMENT Real estate - - - - Other - - - 845 Accum. depr. and amortization - - - (140) Valuation allowances - - - - ------------- ---------------- ------------ ----------- Property, Plant and Equipment-net - - - 705 ------------- ---------------- ------------ ----------- INVESTMENTS Subsidiaries - - - - Capital lease agreements - - - - Partnership interests - 198 - - Corporate joint ventures - - - - Securities - - - - Valuation allowances - - - - ------------- ---------------- ------------ ----------- Total Investments - 198 - - ------------- ---------------- ------------ ----------- OTHER ASSETS Long-term receivables Other - - - 241 ------------- ---------------- ------------ ----------- Total Other Assets - - - 241 ------------- ---------------- ------------ ----------- TOTAL ASSETS $ - $ 133 $ 10 $ 3,006 ============= ================ ============ ===========
PSEG USA CONSOLIDATING BALANCE SHEET DECEMBER 31, 2000 ($ IN THOUSANDS)
PSEG PSEG ASIA PSEG INTERNATIONAL INC. BAJA CEMAS SERVICES CONSOL. ------------- ---------------- ------------ ----------- ASSETS CURRENT ASSETS Cash and temporary cash investments $ - $ 3 $ - $ (1) Accounts and Notes receivable: Trade - - - - Other - - - 11 PSE&G - - - - PSEG - - - - PSEG Power PSEG Energy Holdings - - 17 23 Other associated companies 19,695 21,344 8,197 3,956 Notes receivable: - Associated companies - - - - Other - - - - Interest receivable - - - - Assets held for sale 27,795 Prepayments - - 51 - ------------- ---------------- ------------ ----------- Total Current Assets 19,695 49,142 8,265 3,989 ------------- ---------------- ------------ ----------- PROPERTY, PLANT AND EQUIPMENT Real estate - - - - Other - - - - Accum. depr. and amortization - - - - Valuation allowances - - - - ------------- ---------------- ------------ ----------- Property, Plant and Equipment-net - - - - ------------- ---------------- ------------ ----------- INVESTMENTS Subsidiaries - 21 - - Capital lease agreements - - - - Partnership interests - - - - Corporate joint ventures - - - - Securities - - - - Valuation allowances - - - - ------------- ---------------- ------------ ----------- Total Investments - 21 - - ------------- ---------------- ------------ ----------- OTHER ASSETS Long-term receivables Other - - 1,784 (2) ------------- ---------------- ------------ ----------- Total Other Assets - - 1,784 (2) ------------- ---------------- ------------ ----------- TOTAL ASSETS $ 19,695 $ 49,163 $ 10,049 $ 3,987 ============= ================ ============ ===========
PSEG USA CONSOLIDATING BALANCE SHEET DECEMBER 31, 2000 ($ IN THOUSANDS)
PSEG PSEG PSEG AMERICAS INTERNATIONAL PSEG US SERVICES DEVELOPMENT INC. INDIA INC. CO. LLC CONSOL. ------------- ---------------- ------------ ----------- ASSETS CURRENT ASSETS Cash and temporary cash investments $ - $ - $ - $ 10,416 Accounts and Notes receivable: Trade - 1 - 6,528 Other (2) - - 13 PSE&G - - - - PSEG - - - - PSEG Power 24 PSEG Energy Holdings - - - - Other associated companies 2,759 409 - 544,682 Notes receivable: - Associated companies - - - - Other - - - - Interest receivable - - - - Assets held for sale 39,321 Prepayments - 12 - 324 ------------- ---------------- ------------ ----------- Total Current Assets 2,757 422 - 601,308 ------------- ---------------- ------------ ----------- PROPERTY, PLANT AND EQUIPMENT Real estate - - - - Other 123 - - 1,559 Accum. depr. and amortization (79) - - (412) Valuation allowances - - - - ------------- ---------------- ------------ ----------- Property, Plant and Equipment-net 44 - - 1,147 ------------- ---------------- ------------ ----------- INVESTMENTS Subsidiaries - - - - Capital lease agreements - - - - Partnership interests - - - 303,200 Corporate joint ventures - - - 175,866 Securities - - - - Valuation allowances - - - - ------------- ---------------- ------------ ----------- Total Investments - - - 479,066 ------------- ---------------- ------------ ----------- OTHER ASSETS Long-term receivables - Other - 4 - 21,942 ------------- ---------------- ------------ ----------- Total Other Assets - 4 - 21,942 ------------- ---------------- ------------ ----------- TOTAL ASSETS $ 2,801 $ 426 $ - $1,103,463 ============= ================ ============ ===========
PSEG USA CONSOLIDATING BALANCE SHEET DECEMBER 31, 2000 ($ IN THOUSANDS)
PSEG PSEG PSEG PSEG NEW HAWAIIAN HAWAIIAN KALAELOA HAMPSHIRE MGT. INVESTMENT INC. ------------- ---------------- ------------ ----------- ASSETS CURRENT ASSETS Cash and temporary cash investments $ - $ - $ - $ (143) Accounts and Notes receivable: Trade - - - 194 Other - 1 - 1 PSE&G - - - - PSEG - - - - PSEG Power PSEG Energy Holdings - - - - Other associated companies 12,250 106 5,018 348 Notes receivable: Associated companies - - - - Other - - - - Interest receivable - - - - Assets held for sale Prepayments - - - 1 ------------- ---------------- ------------ ----------- Total Current Assets 12,250 107 5,018 401 ------------- ---------------- ------------ ----------- PROPERTY, PLANT AND EQUIPMENT Real estate - - - - Other - - - - Accum. depr. and amortization - - - - Valuation allowances - - - - ------------- ---------------- ------------ ----------- Property, Plant and Equipment-net - - - - ------------- ---------------- ------------ ----------- INVESTMENTS Subsidiaries - - - - Capital lease agreements - - - - Partnership interests 5,132 362 25,133 683 Corporate joint ventures - - - - Securities - - - - Valuation allowances - - - - ------------- ---------------- ------------ ----------- Total Investments 5,132 362 25,133 683 ------------- ---------------- ------------ ----------- OTHER ASSETS Long-term receivables Other - - 1 - ------------- ---------------- ------------ ----------- Total Other Assets - - 1 - ------------- ---------------- ------------ ----------- TOTAL ASSETS $ 17,382 $ 469 $ 30,152 $ 1,084 ============= ================ ============ ===========
PSEG USA CONSOLIDATING BALANCE SHEET DECEMBER 31, 2000 ($ IN THOUSANDS)
PSEG PSEG CHILQUINTA PSEG MIDWEST FINANCE SVILUPPO PSEG OPERATING LLC SRL POLSKA CO. INC. ------------- ---------------- ------------ ----------- ASSETS CURRENT ASSETS Cash and temporary cash investments $ - $ 12 $ 87 $ - Accounts and Notes receivable: Trade 35 - - - Other - - - - PSE&G - - - - PSEG - - - - PSEG Power PSEG Energy Holdings - - - - Other associated companies - - - - Notes receivable: Associated companies - - - - Other - - - - Interest receivable - - - - Assets held for sale - - - Prepayments - - - - ------------- ---------------- ------------ ----------- Total Current Assets 35 12 87 - ------------- ---------------- ------------ ----------- PROPERTY, PLANT AND EQUIPMENT Real estate - - - - Other - - - - Accum. depr. and amortization - - - - Valuation allowances - - - - ------------- ---------------- ------------ ----------- Property, Plant and Equipment-net - - - - ------------- ---------------- ------------ ----------- INVESTMENTS Subsidiaries - - - - Capital lease agreements - - - - Partnership interests - - - - Corporate joint ventures (192) - - - Securities - - - - Valuation allowances - - - - ------------- ---------------- ------------ ----------- Total Investments (192) - - - ------------- ---------------- ------------ ----------- OTHER ASSETS Long-term receivables Other - - - - ------------- ---------------- ------------ ----------- Total Other Assets - - - - ------------- ---------------- ------------ ----------- TOTAL ASSETS $ (157) $ 12 $ 87 $ - ============= ================ ============ ===========
PSEG USA CONSOLIDATING BALANCE SHEET DECEMBER 31, 2000 ($ IN THOUSANDS)
INTERCOMPANY PSEG USA ELIMINATIONS PSEG PSEG CONSOL. & RECLASS. USA CONEMAUGH ------------------ ------------------ ------------------ ----------------- LIABILITIES AND STOCKHOLDER'S EQUITY CURRENT LIABILITIES Accounts payable: Trade $ 585 $ (7) $ 819 $ - Taxes 2,614 - (370) 126 Other 11,525 - 2,792 - Interest 948 - - - Associated companies 501,498 (252,261) 240,868 204 Notes payable: - PSEG Capital Corporation 4,153 - 4,153 - PSEG Energy Holdings 7,342 - 7,342 - Enterprise Group Development Corp. - - - - Other Associated companies - - - - U.S.Energy Incorporated - - - - Current portion of long-term debt - - - - ------------------ ------------------ ------------------ ----------------- Total Current Liabilities 528,665 (252,268) 255,604 330 ------------------ ------------------ ------------------ ----------------- TOTAL LONG-TERM DEBT 161,600 - 1,600 - ------------------ ------------------ ------------------ ----------------- DEFERRED CREDITS Deferred income taxes 6,694 (117) 12,691 766 Deferred investment and energy tax credits 6,988 - 6,558 - Other 15,997 3 72 - ------------------ ------------------ ------------------ ----------------- Total Deferred Credits 29,679 (114) 19,321 766 ------------------ ------------------ ------------------ ----------------- MINORITY INTEREST (21) (21) - - ------------------ ------------------ ------------------ ----------------- STOCKHOLDER'S EQUITY Capital stock 10 (142) 10 5 Stock Subs Payable - (108) 108 - Contributed capital 991,190 (573,454) 991,189 - Retained earnings 116,112 (76,261) 116,113 (523) Other Comprehensive Income (9,013) 9,013 (9,013) Cumulative Translation Adjustment (2,621) 2,621 (2,621) - ------------------ ------------------ ------------------ ----------------- Total Stockholder's Equity 1,095,678 (638,331) 1,095,786 (518) ------------------ ------------------ ------------------ ----------------- TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY $ 1,815,601 $ (890,734) $ 1,372,311 $ 578 ================== ================== ================== =================
PSEG USA CONSOLIDATING BALANCE SHEET DECEMBER 31, 2000 ($ IN THOUSANDS)
PSEG PSEG PSEG PROJECT GWF PSEG TRACY SERVICES CONSOL. LEASING ------------------ ------------------ ------------------ ----------------- LIABILITIES AND STOCKHOLDER'S EQUITY CURRENT LIABILITIES Accounts payable: Trade $ - $ - $ - $ - Taxes 12 - 12 - Other - - - - Interest - - - - Associated companies 6,265 7,957 30,221 9,215 Notes payable: - PSEG Capital Corporation - - - - PSEG Energy Holdings - - - - Enterprise Group Development Corp. - - - - Other Associated companies - - - - U.S.Energy Incorporated - - - - Current portion of long-term debt - - - - ------------------ ------------------ ------------------ ----------------- Total Current Liabilities 6,277 7,957 30,233 9,215 ------------------ ------------------ ------------------ ----------------- TOTAL LONG-TERM DEBT - - - - ------------------ ------------------ ------------------ ----------------- DEFERRED CREDITS Deferred income taxes (1,808) 845 (310) (540) Deferred investment - and energy tax credits - - - - Other - - - - ------------------ ------------------ ------------------ ----------------- Total Deferred Credits (1,808) 845 (310) (540) ------------------ ------------------ ------------------ ----------------- MINORITY INTEREST - - - - ------------------ ------------------ ------------------ ----------------- STOCKHOLDER'S EQUITY Capital stock 5 5 5 5 Stock Subs Payable - - - - Contributed capital - - - 31,939 Retained earnings (3,970) (1,223) 14,738 (1,689) Other Comprehensive Income Cumulative Translation Adjustment - - - - ------------------ ------------------ ------------------ ----------------- Total Stockholder's Equity (3,965) (1,218) 14,743 30,255 ------------------ ------------------ ------------------ ----------------- TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY $ 504 $ 7,584 $ 44,666 $ 38,930 ================== ================== ================== =================
PSEG USA CONSOLIDATING BALANCE SHEET DECEMBER 31, 2000 ($ IN THOUSANDS)
PSEG PSEG PSEG INDIA PSEG MOUNT HENRIETTA PRIVATE DEBLOIS CARMEL TURBINE LTD. ------------------ ------------------ ------------------ ----------------- LIABILITIES AND STOCKHOLDER'S EQUITY CURRENT LIABILITIES Accounts payable: Trade $ - $ - $ - $ - Taxes - 7 - - Other - - - 237 Interest - - - - Associated companies 1,727 2,847 17 1,439 Notes payable: PSEG Capital Corporation - - - - PSEG Energy Holdings - - - - Enterprise Group Development Corp. - - - - Other Associated companies - - - - U.S.Energy Incorporated - - - - Current portion of long-term debt - - - - ------------------ ------------------ ------------------ ----------------- Total Current Liabilities 1,727 2,854 17 1,676 ------------------ ------------------ ------------------ ----------------- TOTAL LONG-TERM DEBT - - - - ------------------ ------------------ ------------------ ----------------- DEFERRED CREDITS Deferred income taxes 1 1,389 - (1,083) Deferred investment and energy tax credits - - - - Other - - - 18 ------------------ ------------------ ------------------ ----------------- Total Deferred Credits 1 1,389 - (1,065) ------------------ ------------------ ------------------ ----------------- MINORITY INTEREST - - - - ------------------ ------------------ ------------------ ----------------- STOCKHOLDER'S EQUITY Capital stock 5 - 1 100 Stock Subs Payable - - - - Contributed capital - (1,583) - 7,356 Retained earnings (1,733) (2,527) (8) (5,061) Other Comprehensive Income Cumulative Translation Adjustment - - - - ------------------ ------------------ ------------------ ----------------- Total Stockholder's Equity (1,728) (4,110) (7) 2,395 ------------------ ------------------ ------------------ ----------------- TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY $ - $ 133 $ 10 $ 3,006 ================== ================== ================== =================
PSEG USA CONSOLIDATING BALANCE SHEET DECEMBER 31, 2000 ($ IN THOUSANDS)
PSEG PSEG ASIA PSEG INTERNATIONAL INC. BAJA CEMAS SERVICES CONSOL. ------------------ ------------------ ------------------ ----------------- LIABILITIES AND STOCKHOLDER'S EQUITY CURRENT LIABILITIES Accounts payable: Trade $ - $ (8) $ (203) Taxes 2,242 - - - Other 66 - 406 113 Interest - - - - Associated companies 57 17,090 20,744 Notes payable: - PSEG Capital Corporation - - - - PSEG Energy Holdings - - - - Enterprise Group Development Corp. - - - - Other Associated companies - - - - U.S.Energy Incorporated - - - - Current portion of long-term debt - - - - ------------------ ------------------ ------------------ ----------------- Total Current Liabilities 2,308 57 17,488 20,654 ------------------ ------------------ ------------------ ----------------- TOTAL LONG-TERM DEBT - - - - ------------------ ------------------ ------------------ ----------------- DEFERRED CREDITS Deferred income taxes (168) 2,282 (1,063) (5,708) Deferred investment - and energy tax credits - - - - Other - 811 1,492 - ------------------ ------------------ ------------------ ----------------- Total Deferred Credits (168) 3,093 429 (5,708) ------------------ ------------------ ------------------ ----------------- MINORITY INTEREST - - - - ------------------ ------------------ ------------------ ----------------- STOCKHOLDER'S EQUITY Capital stock 1 - - - Stock Subs Payable - - - - Contributed capital 3,700 30,138 1,200 3,800 Retained earnings 13,854 15,875 (9,068) (14,759) Other Comprehensive Income Cumulative Translation Adjustment - - - - ------------------ ------------------ ------------------ ----------------- Total Stockholder's Equity 17,555 46,013 (7,868) (10,959) ------------------ ------------------ ------------------ ----------------- TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY $ 19,695 $ 49,163 $ 10,049 $ 3,987 ================== ================== ================== =================
PSEG USA CONSOLIDATING BALANCE SHEET DECEMBER 31, 2000 ($ IN THOUSANDS)
PSEG PSEG PSEG AMERICAS INTERNATIONAL PSEG US SERVICES DEVELOPMENT INC. INDIA INC. CO. LLC CONSOL. ------------------ ------------------ ------------------ ----------------- LIABILITIES AND STOCKHOLDER'S EQUITY CURRENT LIABILITIES Accounts payable: Trade $ - $ - $ - $ (16) Taxes - - - 539 Other - 27 - 7,843 Interest - - - 877 Associated companies 5,173 502 - 408,805 Notes payable: - PSEG Capital Corporation - - - - PSEG Energy Holdings - - - - Enterprise Group Development Corp. - - - - Other Associated companies - - - - U.S.Energy Incorporated - - - - Current portion of long-term debt - - - - ------------------ ------------------ ------------------ ----------------- Total Current Liabilities 5,173 529 - 418,048 ------------------ ------------------ ------------------ ----------------- TOTAL LONG-TERM DEBT - - - 160,000 ------------------ ------------------ ------------------ ----------------- DEFERRED CREDITS Deferred income taxes (520) - - (5,267) Deferred investment - and energy tax credits - - - - Other - - - 13,601 ------------------ ------------------ ------------------ ----------------- Total Deferred Credits (520) - - 8,334 ------------------ ------------------ ------------------ ----------------- MINORITY INTEREST - - - - ------------------ ------------------ ------------------ ----------------- STOCKHOLDER'S EQUITY Capital stock 1 1 - 1 Stock Subs Payable - - - - Contributed capital - - - 481,908 Retained earnings (1,853) (104) - 44,331 Other Comprehensive Income (6,538) Cumulative Translation Adjustment - - - (2,621) ------------------ ------------------ ------------------ ----------------- Total Stockholder's Equity (1,852) (103) - 517,081 ------------------ ------------------ ------------------ ----------------- TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY $ 2,801 $ 426 $ - $ 1,103,463 ================== ================== ================== =================
PSEG USA CONSOLIDATING BALANCE SHEET DECEMBER 31, 2000 ($ IN THOUSANDS)
PSEG PSEG PSEG PSEG NEW HAWAIIAN HAWAIIAN KALAELOA HAMPSHIRE MGT. INVESTMENT INC. ------------------ ------------------ ------------------ ----------------- LIABILITIES AND STOCKHOLDER'S EQUITY CURRENT LIABILITIES Accounts payable: Trade $ - $ - $ - $ - Taxes - 1 16 29 Other - - 38 3 Interest - - - - Associated companies 504 4 211 (248) Notes payable: PSEG Capital Corporation - - - - PSEG Energy Holdings - - - - Enterprise Group Development Corp. - - - - Other Associated companies - - - - U.S.Energy Incorporated - - - - Current portion of long-term debt - - - - ------------------ ------------------ ------------------ ----------------- Total Current Liabilities 504 5 265 (216) ------------------ ------------------ ------------------ ----------------- TOTAL LONG-TERM DEBT - - - - ------------------ ------------------ ------------------ ----------------- DEFERRED CREDITS Deferred income taxes 683 47 5,157 116 Deferred investment and energy tax credits 430 - - - Other - - - - ------------------ ------------------ ------------------ ----------------- Total Deferred Credits 1,113 47 5,157 116 ------------------ ------------------ ------------------ ----------------- MINORITY INTEREST - - - - ------------------ ------------------ ------------------ ----------------- STOCKHOLDER'S EQUITY Capital stock 5 1 - 1 Stock Subs Payable - - - - Contributed capital (5,600) 381 18,307 296 Retained earnings 21,360 35 7,600 887 Other Comprehensive Income (1,177) Cumulative Translation Adjustment - - - - ------------------ ------------------ ------------------ ----------------- Total Stockholder's Equity 15,765 417 24,730 1,184 ------------------ ------------------ ------------------ ----------------- TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY $ 17,382 $ 469 $ 30,152 $ 1,084 ================== ================== ================== =================
PSEG USA CONSOLIDATING BALANCE SHEET DECEMBER 31, 2000 ($ IN THOUSANDS)
PSEG PSEG CHILQUINTA PSEG MIDWEST FINANCE SVILUPPO PSEG OPERATING LLC SRL POLSKA CO. INC. ------------------ ------------------ ------------------ ----------------- LIABILITIES AND STOCKHOLDER'S EQUITY CURRENT LIABILITIES Accounts payable: Trade $ - $ - $ - $ - Taxes - - - - Other - - - - Interest 71 - - - Associated companies 70 - 87 - Notes payable: PSEG Capital Corporation - - - - PSEG Energy Holdings - - - - Enterprise Group Development Corp. - - - - Other Associated companies - - - - U.S.Energy Incorporated - - - - Current portion of long-term debt - - - - ------------------ ------------------ ------------------ ----------------- Total Current Liabilities 141 - 87 - ------------------ ------------------ ------------------ ----------------- TOTAL LONG-TERM DEBT - - - - ------------------ ------------------ ------------------ ----------------- DEFERRED CREDITS Deferred income taxes (699) - - - Deferred investment and energy tax credits - - - - Other - - - - ------------------ ------------------ ------------------ ----------------- Total Deferred Credits (699) - - - ------------------ ------------------ ------------------ ----------------- MINORITY INTEREST - - - - ------------------ ------------------ ------------------ ----------------- STOCKHOLDER'S EQUITY Capital stock - - - - Stock Subs Payable - - - - Contributed capital 1,600 12 - - Retained earnings 99 - - - Other Comprehensive Income (1,298) - - Cumulative Translation Adjustment - - - - ------------------ ------------------ ------------------ ----------------- Total Stockholder's Equity 401 12 - - ------------------ ------------------ ------------------ ----------------- TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY $ (157) $ 12 $ 87 $ - ================== ================== ================== =================
PSEG INTERNATIONAL INC. CONSOLIDATING STATEMENT OF INCOME FOR THE YEAR ENDING DECEMBER 31, 2001 ($ IN THOUSANDS)
PSEG International INTERCOMPANY Inc. ELIMINATIONS CONSOL. & RECLASS. ------------------- ---------------------- REVENUES: Income from partnerships $ 30,561 $ - Income from capital lease agreements - - Unrealized gains (losses) on investments - - Realized gains (losses) on investments - - Interest and dividend income 15,717 - Other 99 - Equity in subsidiary earnings (1) (22,369) ------------------- ---------------------- Total revenues 46,376 (22,369) ------------------- ---------------------- OPERATING EXPENSES: Operation and maintenance - - Depreciation and amortization 389 - Administrative and general 4,265 - ------------------- ---------------------- Total operating expenses 4,654 - ------------------- ---------------------- OPERATING INCOME 41,722 (22,369) ------------------- ---------------------- OTHER INCOME Foreign currency Translation Gain/Loss (5,798) - Other (91) Gain on Sale - ---------------------- Total Other Income (5,889) - ------------------- ---------------------- INTEREST EXPENSE: PSEG Capital Corporation - - Enterprise Capital Funding Corp. - - Other Associated Companies - - Other 11,649 - Capitalized interest - - ------------------- ---------------------- Net interest expense 11,649 - ------------------- ---------------------- INCOME BEFORE INCOME TAXES 24,184 (22,369) ------------------- ---------------------- INCOME TAXES: Current 537 - Deferred 3,335 - Investment and energy tax credits - net - - ------------------- ---------------------- Total income taxes 3,872 - ------------------- ---------------------- MINORITY INTERESTS - - ------------------- ---------------------- INCOME BEFORE EXTRAORDINARY ITEM AND CUMULATIVE EFFECT OF A CHANGE IN ACCOUNTING PRINCIPLE 20,312 (22,369) ------------------- ---------------------- Extraordinary Loss on Early Retirement of Debt (net of tax) (1,679) Cumulative Effect of a Change in Accounting Principle - ------------------- ---------------------- NET INCOME $ 18,633 $ (22,369) =================== ====================== PSEG PSEG PSEG Global Americas Associacion PSEG International Power Holdings Inc. O Cuentas en California Inc. Ltd CONSOL. Participacion Inc ----------------- ---------------- ------------------ ------------------ ------------------ $ - $ - $ 15,883 $ 6,429 $ 8,249 - - - - - - - - - - - - - - - - - 15,703 - - - - 99 - - 22,369 - - - - ----------------- ---------------- ------------------ ------------------ ------------------ 22,369 - 31,685 6,429 8,249 ----------------- ---------------- ------------------ ------------------ ------------------ - - - - - - - - - - - - (1,606) - 175 ----------------- ---------------- ------------------ ------------------ ------------------ - - (1,606) - 175 ----------------- ---------------- ------------------ ------------------ ------------------ 22,369 - 33,291 6,429 8,074 ----------------- ---------------- ------------------ ------------------ ------------------ (5,747) - (22) - - ----------------- ---------------- ------------------ ------------------ ------------------ (5,747) - (22) - - ----------------- ---------------- ------------------ ------------------ ------------------ - - - - - - - - - - - - - - - - - 11,677 - - - - - - - ----------------- ---------------- ------------------ ------------------ ------------------ - - 11,677 - - ----------------- ---------------- ------------------ ------------------ ------------------ 16,622 - 21,592 6,429 8,074 ----------------- ---------------- ------------------ ------------------ ------------------ (2,016) - (1,345) - 3,290 5 - 3,341 - - - - - - - ----------------- ---------------- ------------------ ------------------ ------------------ (2,011) - 1,996 - 3,290 ----------------- ---------------- ------------------ ------------------ ------------------ - - - - - ----------------- ---------------- ------------------ ------------------ ------------------ 18,633 - 19,596 6,429 4,784 ----------------- ---------------- ------------------ ------------------ ------------------ (1,679) - ----------------- ---------------- ------------------ ------------------ ------------------ $ 18,633 $ - $ 17,917 $ 6,429 $ 4,784 ================= ================ ================== ================== ================== PSEG PSEG Americas Barka Services Inc. Inc. CONSOL. ------------------ ------------------ $ - $ - - - - - - - 14 - - - - - ------------------ ------------------ 14 - ------------------ ------------------ - - 7 - 1,487 - ------------------ ------------------ 1,494 - ------------------ ------------------ (1,480) - ------------------ ------------------ - - ------------------ ------------------ - - ------------------ ------------------ - - - - - - - - - - ------------------ ------------------ - - ------------------ ------------------ (1,480) - ------------------ ------------------ 12 - (11) - - - ------------------ ------------------ 1 - ------------------ ------------------ - - ------------------ ------------------ (1,481) - ------------------ ------------------ ------------------ ------------------ $ (1,481) $ - ================== ==================
PSEG Bermuda PSEG Holdings ECI Cuenta II Ltd. International Finance CONSOL. Development Company ----------------- ------------------ ---------------- REVENUES: Income from partnerships $ - $ - $ - Income from capital lease agreements - - - Unrealized gains (losses) on investments - - - Realized gains (losses) on investments - - - Interest and dividend income - - - Other - - - Equity in subsidiary earnings - - - ----------------- ------------------ ---------------- Total revenues - - - ----------------- ------------------ ---------------- OPERATING EXPENSES: Operation and maintenance - - - Depreciation and amortization 39 - - Administrative and general 6 - - ----------------- ------------------ ---------------- Total operating expenses 45 - - ----------------- ------------------ ---------------- OPERATING INCOME (45) - - ----------------- ------------------ ---------------- OTHER INCOME Foreign currency Translation Gain/Loss (8) - - Other Gain on Sale ----------------- ------------------ ---------------- Total Other Income (8) - - ----------------- ------------------ ---------------- INTEREST EXPENSE: PSEG Capital Corporation - - - Enterprise Capital Funding Corp. - - - Other Associated Companies - - - Other - - - Capitalized interest - - - ----------------- ------------------ ---------------- Net interest expense - - - ----------------- ------------------ ---------------- INCOME BEFORE INCOME TAXES (53) - - ----------------- ------------------ ---------------- INCOME TAXES: Current (16) - - Deferred - - - Investment and energy tax credits - net - - - ----------------- ------------------ ---------------- Total income taxes (16) - - ----------------- ------------------ ---------------- MINORITY INTERESTS - - - ----------------- ------------------ ---------------- INCOME BEFORE EXTRAORDINARY ITEM AND CUMULATIVE EFFECT OF A CHANGE IN ACCOUNTING PRINCIPLE (37) - - ----------------- ------------------ ---------------- Extraordinary Loss on Early Retirement of Debt (net of tax) Cumulative Effect of a Change in Accounting Principle ----------------- ------------------ ---------------- NET INCOME $ (37) $ - $ - ================= ================== ================ PSEG China PSEG PSEG PSEG Punjab Holdings Full Moon Pontianak Europe Ltd. Energy Ltd. Ltd Ltd Consol Co. Ltd. Consol (Mauritius) (Mauritius) ----------------- ---------------- ---------------- ---------------- --------------- $ - $ - $ - $ - $ - - - - - - - - - - - - - - - - - - - - - - - - - - - - (1) - - ----------------- ---------------- ---------------- ---------------- --------------- - - (1) - - ----------------- ---------------- ---------------- ---------------- --------------- - - - - - 343 - - - - 3,976 - - 5 - ----------------- ---------------- ---------------- ---------------- --------------- 4,319 - - 5 - ----------------- ---------------- ---------------- ---------------- --------------- (4,319) - (1) (5) - ----------------- ---------------- ---------------- ---------------- --------------- (21) - - - - (91) - ----------------- ---------------- ---------------- ---------------- --------------- (112) - - - - ----------------- ---------------- ---------------- ---------------- --------------- - - - - - - - - - - - - - - - (28) - - - - - - - - - ----------------- ---------------- ---------------- ---------------- --------------- (28) - - - - ----------------- ---------------- ---------------- ---------------- --------------- (4,403) - (1) (5) - ----------------- ---------------- ---------------- ---------------- --------------- 612 - - - - - - - - - - - - - - ----------------- ---------------- ---------------- ---------------- --------------- 612 - - - - ----------------- ---------------- ---------------- ---------------- --------------- - - - - - ----------------- ---------------- ---------------- ---------------- --------------- (5,015) - (1) (5) - ----------------- ---------------- ---------------- ---------------- --------------- ----------------- ---------------- ---------------- ---------------- --------------- $ (5,015) $ - $ (1) $ (5) $ - ================= ================ ================ ================ =============== PSEG PSEG PSEG Pontianak Philippine Zhou Ltd Holdings Kou Power (Malaysia) LLC Ltd Consol $ - $ - $ - - - - - - - - - - - - - - - - - - - --------------- ---------------- ---------------- - - - --------------- ---------------- ---------------- - - - - - - 1 217 4 --------------- ---------------- ---------------- 1 217 4 --------------- ---------------- ---------------- (1) (217) (4) --------------- ---------------- ---------------- - - - --------------- ---------------- ---------------- - - - --------------- ---------------- ---------------- - - - - - - - - - - - - - - - --------------- ---------------- ---------------- - - - --------------- ---------------- ---------------- (1) (217) (4) --------------- ---------------- ---------------- - - - - - - - - - --------------- ---------------- ---------------- - - - --------------- ---------------- ---------------- - - - --------------- ---------------- ---------------- (1) (217) (4) --------------- ---------------- ---------------- --------------- ---------------- ---------------- $ (1) $ (217) $ (4) =============== ================ ================
PSEG INTERNATIONAL INC. CONSOLIDATING STATEMENT OF RETAINED EARNINGS FOR THE YEAR ENDING DECEMBER 31, 2001 ($ IN THOUSANDS)
PSEG PSEG International INTERCOMPANY PSEG Global Inc. ELIMINATIONS International Power Holdings CONSOL. & RECLASS. Inc. Ltd ------------------- ---------------------- ----------------- ---------------- BALANCE JANUARY 1, 2001 $ 25,698 $ 10,251 $ 25,698 $ (2) NET INCOME 18,633 (22,369) 18,633 - ------------------- ---------------------- ----------------- ---------------- TOTAL 44,331 (12,118) 44,331 (2) ------------------- ---------------------- ----------------- ---------------- DIVIDENDS DECLARED - - - - ------------------- ---------------------- ----------------- ---------------- ------------------- ---------------------- ----------------- ---------------- BALANCE DECEMBER 31, 2001 $ 44,331 $ (12,118) $ 44,331 $ (2) =================== ====================== ================= ================ PSEG PSEG Americas Associacion PSEG Americas PSEG Inc. O Cuentas en California Services Barka CONSOL. Participacion Inc Inc. Inc. ------------------ ------------------ ------------------ ------------------ ------------------ $ 10,481 $ - $ - $ (2,678) $ (5) 17,917 6,429 4,784 (1,481) - ------------------ ------------------ ------------------ ------------------ ------------------ 28,398 6,429 4,784 (4,159) (5) ------------------ ------------------ ------------------ ------------------ ------------------ - - - - - ------------------ ------------------ ------------------ ------------------ ------------------ ------------------ ------------------ ------------------ ------------------ ------------------ $ 28,398 $ 6,429 $ 4,784 $ (4,159) $ (5) ================== ================== ================== ================== ==================
Bermuda PSEG PSEG Holdings ECI Cuenta Punjab II International Finance PSEG Energy CONSOL. Development Company Ltd. Co. Ltd. ------------------ ------------------ ------------------ ----------------- ---------------- BALANCE JANUARY 1, 2001 $ (6,348) $ - $ - $ (1,475) $ (1,621) NET INCOME (37) - - (5,015) - ------------------ ------------------ ------------------ ----------------- ---------------- TOTAL (6,385) - - (6,490) (1,621) ------------------ ------------------ ------------------ ----------------- ---------------- DIVIDENDS DECLARED - - - - - ------------------ ------------------ ------------------ ----------------- ---------------- ------------------ ------------------ ------------------ ----------------- ---------------- BALANCE DECEMBER 31, 2001 $ (6,385) $ - $ - $ (6,490) $ (1,621) ================== ================== ================== ================= ================ Pseg China PSEG PSEG PSEG PSEG Pontianak Holdings Full Moon Pontianak Philippine Zhou Ltd Ltd. Ltd Ltd Holdings Kou Power (Malaysia) Consol (Mauritius) (Mauritius) LLC Ltd Consol --------------- ---------------- --------------- -------------- ---------------- ---------------- $ (3) $ (2) $ - $ (4,125) $ (7) $ (2,233) (1) (5) - (1) (217) (4) --------------- ---------------- --------------- -------------- ---------------- ---------------- (4) (7) - (4,126) (224) (2,237) --------------- ---------------- --------------- -------------- ---------------- ---------------- - - - - - - --------------- ---------------- --------------- -------------- ---------------- ---------------- --------------- ---------------- --------------- -------------- ---------------- ---------------- $ (4) $ (7) $ - $ (4,126) $ (224) $ (2,237) =============== ================ =============== ============== ================ ================
PSEG INTERNATIONAL INC. CONSOLIDATING BALANCE SHEET DECEMBER 31, 2001 ($ IN THOUSANDS)
PSEG International INTERCOMPANY PSEG PSEG Inc. ELIMINATIONS International International CONSOL. & RECLASS. Inc. Inc. ------------------- -------------------- ----------------- ---------------- ASSETS CURRENT ASSETS -------------- Cash and temporary cash investments $ 10,416 $ - $ 3 $ - Accounts and Notes receivable: Trade 6,528 (13) 1 - Other 13 - - - PSE&G - - - - PSEG - - - - PSEG Power 24 PSEG Energy Holdings - - - - Other associated companies 544,682 - 159,636 - Notes receivable: - Associated companies - - - - Assets Held for Sale 39,321 - Other - - - - Interest receivable - - - - Prepayments 324 - - - ------------------- -------------------- ----------------- ---------------- Total Current Assets 601,308 (13) 159,640 - ------------------- -------------------- ----------------- ---------------- PROPERTY, PLANT AND EQUIPMENT ----------------------------- Real estate - - - - Other 1,559 - - - Accum. depr. and amortization (412) - - - Valuation allowances - - - - ------------------- -------------------- ----------------- ---------------- Property, Plant and Equipment-net 1,147 - - - ------------------- -------------------- ----------------- ---------------- INVESTMENTS ----------- Subsidiaries - (391,132) 391,132 - Capital lease agreements - - - - Partnership interests 303,200 - - - Corporate joint ventures 175,866 - - - Securities - - - - Valuation allowances - - - - ------------------- -------------------- ----------------- ---------------- Total Investments 479,066 (391,132) 391,132 - ------------------- -------------------- ----------------- ---------------- OTHER ASSETS ------------ Long-term receivables - Other 21,942 - - - ------------------- -------------------- ----------------- ---------------- Total Other Assets 21,942 - - - ------------------- -------------------- ----------------- ---------------- TOTAL ASSETS $ 1,103,463 $ (391,145) $ 550,772 $ - =================== ==================== ================= ================ PSEG PSEG Americas Associacion PSEG Americas PSEG Inc. O Cuentas en California Services Barka CONSOL. Participacion Inc Inc. Inc. ------------------ ------------------ ------------------ ------------------ ------------------ $ 7,581 $ - $ - $ 61 $ - 5,516 - - 77 - 6 - - - - - - - - - - - - - - 24 - - - - - 71,001 299,967 - 336 - - - - - - 39,321 - - - - - - - - - - 8 - - - - ------------------ ------------------ ------------------ ------------------ ------------------ 123,457 299,967 - 474 - ------------------ ------------------ ------------------ ------------------ ------------------ - - - - - - - - 23 - - - - (9) - - - - - - ------------------ ------------------ ------------------ ------------------ ------------------ - - - 14 - ------------------ ------------------ ------------------ ------------------ ------------------ - - - - - - - - - - 270,642 - 32,558 - - 167,550 5,000 - - - - - - - - - - - - - ------------------ ------------------ ------------------ ------------------ ------------------ 438,192 5,000 32,558 - - ------------------ ------------------ ------------------ ------------------ ------------------ - 21,099 28 - 28 - ------------------ ------------------ ------------------ ------------------ ------------------ 21,099 28 - 28 - ------------------ ------------------ ------------------ ------------------ ------------------ $ 582,748 $ 304,995 $ 32,558 $ 516 $ - ================== ================== ================== ================== ==================
PSEG Bermuda PSEG Holdings ECI Cuenta II Inc. International Finance PSEG CONSOL. Development Company Ltd. ---------------- ------------------ ---------------- ----------------- ASSETS CURRENT ASSETS -------------- Cash and temporary cash investments $ 3 $ - $ 1,429 $ 1,339 Accounts and Notes receivable: Trade - - - 923 Other - - - 7 PSE&G - - - - PSEG - - - - PSEG Power PSEG Energy Holdings - - - - Other associated companies 149 - - 12,513 Notes receivable: - - Associated companies - - - - Assets Held for Sale Other - - - - Interest receivable - - - - Prepayments 1 - - 315 ---------------- ------------------ ---------------- ----------------- Total Current Assets 153 - 1,429 15,097 ---------------- ------------------ ---------------- ----------------- PROPERTY, PLANT AND EQUIPMENT ----------------------------- Real estate - - - - Other 128 - - 1,408 Accum. depr. and amortization (105) - - (298) Valuation allowances - - - - ---------------- ------------------ ---------------- ----------------- Property, Plant and Equipment-net 23 - - 1,110 ---------------- ------------------ ---------------- ----------------- INVESTMENTS ----------- Subsidiaries - - - - Capital lease agreements - - - - Partnership interests - - - - Corporate joint ventures - - - 216 Securities - - - - Valuation allowances - - - - ---------------- ------------------ ---------------- ----------------- Total Investments - - - 216 ---------------- ------------------ --------------- ----------------- OTHER ASSETS ------------ Long-term receivables Other 330 - - 457 ---------------- ------------------ ---------------- ----------------- Total Other Assets 330 - - 457 ---------------- ------------------ ---------------- ----------------- TOTAL ASSETS $ 506 $ - $ 1,429 $ 16,880 ================ ================== ================ ================= PSEG PSEG China PSEG PSEG PSEG PSEG Pontianak Punjab Holdings Full Moon Pontianak Philippine Zhou Ltd Energy Ltd. Ltd Ltd Holdings Kou Power (Malaysia) Co. Ltd. Consol (Mauritius) (Mauritius) LLC Ltd Consol ---------------- ---------------- ---------------- --------------- --------------- --------------- ---------------- $ - $ - $ - $ - $ - $ - $ - - 12 - - - 12 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 22 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - ---------------- ---------------- ---------------- --------------- --------------- --------------- ---------------- 22 12 - - - 12 1,058 ---------------- ---------------- ---------------- --------------- --------------- --------------- ---------------- - - - - - - - - - - - - - - - - - - - - - - - - - - - - ---------------- ---------------- ---------------- --------------- --------------- --------------- ---------------- - - - - - - - ---------------- ---------------- ---------------- --------------- --------------- --------------- ---------------- - - - - - - - - - - - - - - - - - - - - - - - - - 3,100 - - - - - - - - - - - - - - - - ---------------- ---------------- ---------------- --------------- --------------- --------------- ---------------- - - - - 3,100 - - ---------------- ---------------- ---------------- --------------- -------------- -------------- ---------------- - - - - - - - ---------------- ---------------- ---------------- --------------- --------------- --------------- ---------------- - - - - - - - ---------------- ---------------- ---------------- --------------- --------------- --------------- ---------------- $ 22 $ 12 $ - $ - $ 3,100 $ 12 $ 1,058 ================ ================ ================ =============== =============== =============== ================
PSEG INTERNATIONAL INC. CONSOLIDATING BALANCE SHEET DECEMBER 31, 2001 ($ IN THOUSANDS)
PSEG International INTERCOMPANY PSEG PSEG Inc. ELIMINATIONS International International CONSOL. & RECLASS. Inc. Inc. -------------------- ------------------- ---------------- ---------------- LIABILITIES AND STOCKHOLDER'S EQUITY CURRENT LIABILITIES ------------------- Accounts payable: Trade $ (16) $ - $ - $ - Taxes 539 - - - Other 7,843 - 5,747 - Interest 877 - - - Associated companies 408,805 - 27,103 2 Notes payable: - PSEG Capital Corporation - - - - Enterprise Capital Funding Corp. - - - - Enterprise Group Development Corp. - - - - Enterprise Diversified Holdings Inc. - - - - U.S.Energy Incorporated - - - - Current portion of long-term debt - - - - ------------------- ------------------ ---------------- ---------------- Total Current Liabilities 418,048 - 32,850 2 ------------------- ------------------ ---------------- ---------------- TOTAL LONG-TERM DEBT 160,000 - - - -------------------- ------------------- ------------------ ---------------- ---------------- DEFERRED CREDITS ---------------- Deferred income taxes (5,267) - 828 - Deferred investment - - - - and energy tax credits - - - - Other 13,601 - - - ------------------- ------------------ ---------------- ---------------- Total Deferred Credits 8,334 - 828 - ---------------------------------------- ---------------- ---------------- MINORITY INTEREST - - - - ----------------- ------------------- ------------------ ---------------- ---------------- STOCKHOLDER'S EQUITY -------------------- Capital stock 1 (25) 1 - Stock Subs Payable - (13) 13 - Contributed capital 481,908 (385,915) 481,908 - Retained earnings 44,331 (14,351) 44,331 (2) Other Comprehensive Income (6,538) 6,538 (6,538) Cumulative Translation Adjustment (2,621) 2,621 (2,621) - ------------------- ------------------ ---------------- ---------------- Total Stockholder's Equity 517,081 (391,145) 517,094 (2) ------------------- ------------------ ---------------- ---------------- TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY $ 1,103,463 $ (391,145) $ 550,772 $ - =================== ================== ================ ================ PSEG PSEG Americas Associacion PSEG Americas PSEG Inc. O Cuentas en California Services Barka CONSOL. Participacion Inc Inc. Inc. ------------------ ------------------ ------------------ ------------------ ------------------ $ (1) $ - $ - $ - $ - - - 464 75 - 234 - - 189 - 877 - - - - 172,137 146,074 8,853 5,289 5 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - ------------------ ------------------ ------------------ ------------------ ------------------ 173,247 146,074 9,317 5,553 5 ------------------ ------------------ ------------------ ------------------ ------------------ 160,000 - - - - ------------------ ------------------ ------------------ ------------------ ------------------ 890 - - (878) - - - - - - - - - - - 13,213 - - - - ------------------ ------------------ ------------------ ------------------ ------------------ 14,103 - - (878) - ------------------ ------------------ ------------------ ------------------ ------------------ - - - - - ------------------ ------------------ ------------------ ------------------ ------------------ 1 - - - - - - - - - 213,537 152,492 18,457 - - 28,398 6,429 4,784 (4,159) (5) (6,538) - - -- -- -- - ------------------ ------------------ ------------------ ------------------ ------------------ 235,398 158,921 23,241 (4,159) (5) ------------------ ------------------ ------------------ ------------------ ------------------ $ 582,748 $ 304,995 $ 32,558 $ 516 $ - ================== ================== ================== ================== ==================
PSEG Bermuda PSEG Holdings ECI Cuenta II Inc. International Finance PSEG CONSOL. Development Company Ltd. -------------- ------------------ ------------------ ----------------- LIABILITIES AND STOCKHOLDER'S EQUITY CURRENT LIABILITIES ------------------- Accounts payable: Trade $ - $ - $ - $ (25) Taxes - - - - Other - - - 1,673 Interest - - - - Associated companies 9,624 - - 21,792 Notes payable: - - PSEG Capital Corporation - - - - Enterprise Capital Funding Corp. - - - - Enterprise Group Development Corp. - - - - Enterprise Diversified Holdings Inc. - - - - U.S.Energy Incorporated - - - - Current portion of long-term debt - - - - ----------- ------------------ ----------------- ----------------- Total Current Liabilities 9,624 - - 23,440 ----------- ------------------ ----------------- ----------------- TOTAL LONG-TERM DEBT - - - - -------------------- ----------- ------------------ ----------------- ----------------- DEFERRED CREDITS ---------------- Deferred income taxes (2,733) - - (386) Deferred investment - - - - and energy tax credits - - - - Other - - - 388 ----------- ------------------ ----------------- ----------------- Total Deferred Credits (2,733) - - 2 ----------- ------------------ ----------------- ----------------- MINORITY INTEREST - - - - ----------------- ----------- ------------------ ----------------- ----------------- STOCKHOLDER'S EQUITY --------------------- Capital stock - - - - Stock Subs Payable - - - - Contributed capital - - 1,429 - Retained earnings (6,385) - - (6,490) Other Comprehensive Income Cumulative Translation Adjustment - - - (72) ----------- ------------------ ----------------- ----------------- Total Stockholder's Equity (6,385) - 1,429 (6,562) ----------- ------------------ ----------------- ----------------- TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY $ 506 $ - $ 1,429 $ 16,880 =========== ================== ================= ================= PSEG China PSEG PSEG Punjab Holdings Full Moon Pontianak Energy Ltd. Ltd Ltd Co. Ltd. Consol (Mauritius) (Mauritius) ---------------- --------------- ---------------- -------------- $ - $ 1 $ - $ - - - - - - - - - - - - - 2,515 3 7 - - - - - - - - - - - - - - - - - - - - - - - - - - ---------------- ---------------- ---------------- -------------- 2,515 4 7 - ---------------- ---------------- ---------------- -------------- - - - - ---------------- ---------------- ---------------- -------------- (872) - - - - - - - - - - - - - - - ---------------- ---------------- ---------------- -------------- (872) - - - ---------------- ---------------- ---------------- -------------- - - - - ---------------- ---------------- ---------------- -------------- - 12 - - - - - - - - - - (1,621) (4) (7) - - - - - ---------------- ---------------- ---------------- -------------- (1,621) 8 (7) - ---------------- ---------------- ---------------- -------------- $ 22 $ 12 $ - $ - ================ ================ ================ ============== PSEG PSEG PSEG Pontianak Philippine Zhou Ltd Holdings Kou Power (Malaysia) LLC Ltd Consol --------------- ---------------- ---------------- $ - $ - $ 9 - - - - - - - - - 11,889 225 3,287 - - - - - - - - - - - - - - - - - - - --------------- ---------------- ---------------- 11,889 225 3,296 --------------- ---------------- ---------------- - - - --------------- ---------------- ---------------- (2,114) (1) (1) - - - - - - - - - --------------- ---------------- ---------------- (2,114) (1) (1) --------------- ---------------- ---------------- - - - --------------- ---------------- ---------------- - 12 - - - - - - - (4,126) (224) (2,237) (2,549) - - --------------- ---------------- ---------------- (6,675) (212) (2,237) --------------- ---------------- ---------------- $ 3,100 $ 12 $ 1,058 =============== ================ ================
PSEG AMERICAS INC. CONSOLIDATING STATEMENT OF INCOME FOR THE YEAR ENDING DECEMBER 31, 2001 ($ IN THOUSANDS)
PSEG Americas INTERCOMPANY PSEG Andina Inc. ELIMINATIONS Americas Cuyana Electrica CONSOL. & RECLASS. Inc. Inc. Inc. ------- ---------- ---- ---- ---- REVENUES: Income from partnerships $ 15,883 $ - $ 1,083 $ - $ - Income from capital lease agreements - - - - - Unrealized gains (losses) on investments - - - - - Realized gains (losses) on investments - - - - - Interest and dividend income 15,703 - 15,703 - - Other 99 - 55 - - Equity in subsidiary earnings - (3,838) 3,838 - - ------- ------ ------- --- --- Total revenues 31,685 (3,838) 20,679 - - ------- ------ ------- --- --- OPERATING EXPENSES: Operation and maintenance - - - - - Depreciation and amortization - - - - - Administrative and general (1,606) - (3,142) - - ------- ------ ------- --- --- Total operating expenses (1,606) - (3,142) - - ------- ------ ------- --- --- OPERATING INCOME 33,291 (3,838) 23,821 - - ------- ------ ------- --- --- OTHER INCOME Foreign currency Translation Gain/Loss (22) - - - - ------- ------ ------- --- --- Total Other Income (22) - - - - ------- ------ ------- --- --- INTEREST EXPENSE: PSEG Capital Corporation - - - - - Enterprise Capital Funding Corp. - - - - - Other Associated Companies - - - - - Other 11,677 - (5) - - Capitalized interest - - - - - ------- ------ ------- --- --- Net interest expense 11,677 - (5) - - ------- ------ ------- --- --- INCOME BEFORE INCOME TAXES 21,592 (3,838) 23,826 - - ------- ------ ------- --- --- INCOME TAXES: Current (1,345) - 4,261 - - Deferred 3,341 - 1,648 - - Investment and energy tax credits - net - - - - - ------- ------ ------- --- --- Total income taxes 1,996 - 5,909 - - ------- ------ ------- --- --- MINORITY INTERESTS - - - - - ------- ------ ------- --- --- INCOME BEFORE EXTRAORDINARY ITEM AND CUMULATIVE EFFECT OF A CHANGE IN ACCOUNTING PRINCIPLE 19,596 (3,838) 17,917 - - ------- ------ -------- --- --- Extraordinary Loss on Early Retirement of Debt (net of tax) (1,679) Cumulative Effect of a Change in Accounting Principle - ------- ------ -------- --- --- NET INCOME $ 17,917 $ (3,838) $ 17,917 $ - $ - ======== ======== ======== == == PSEG PSEG Texgen Holdings Global PSEG PSEG PSEG Inc. Funding II LLC La Plata II La Plata I Global CONSOL. CONSOL (US) (US) Mgt Inc. ------- ------ ---- ---- -------- REVENUES: Income from partnerships $ 2,393 $ 12,407 $ - $ - $ - Income from capital lease agreements - - - - - Unrealized gains (losses) on investments - - - - - Realized gains (losses) on investments - - - - - Interest and dividend income - - - - - Other 44 - - - - Equity in subsidiary earnings - - - - - -------- -------- --- --- --- Total revenues 2,437 12,407 - - - -------- -------- --- --- --- OPERATING EXPENSES: Operation and maintenance - - - - - Depreciation and amortization - - - - - Administrative and general 521 356 - - 659 -------- -------- --- --- --- Total operating expenses 521 356 - - 659 -------- -------- --- --- --- OPERATING INCOME 1,916 12,051 - - (659) -------- -------- --- --- --- OTHER INCOME Foreign currency Translation Gain/Loss - - - - (22) -------- -------- --- --- --- Total Other Income - - - - (22) -------- -------- --- --- --- INTEREST EXPENSE: PSEG Capital Corporation - - - - - Enterprise Capital Funding Corp. - - - - - Other Associated Companies - - - - - Other - 11,682 - - - Capitalized interest - - - - - -------- -------- --- --- --- Net interest expense - 11,682 - - - -------- -------- --- --- --- INCOME BEFORE INCOME TAXES 1,916 369 - - (681) -------- -------- --- --- --- INCOME TAXES: Current (960) (4,216) - - (430) Deferred 1,631 7 - - 55 Investment and energy tax credits - net - - - - - -------- -------- --- --- --- Total income taxes 671 (4,209) - - (375) -------- -------- --- --- --- MINORITY INTERESTS - - - - - -------- -------- --- --- --- INCOME BEFORE EXTRAORDINARY ITEM AND CUMULATIVE EFFECT OF A CHANGE IN ACCOUNTING PRINCIPLE 1,245 4,578 - - (306) -------- -------- --- --- --- Extraordinary Loss on Early Retirement of Debt (net of tax) (1,679) Cumulative Effect of a Change in Accounting Principle - -------- -------- --- --- --- NET INCOME $ 1,245 $ 2,899 $ - $ - $ (306) ======== ======== === === =======
PSEG AMERICAS INC. CONSOLIDATING STATEMENT OF RETAINED EARNINGS FOR THE YEAR ENDING DECEMBER 31, 2001 ($ IN THOUSANDS) PSEG PSEG PSEG Americas INTERCOMPANY PSEG Andina Texgen Holdings Global Inc. ELIMINATIONS Americas Cuyana Electrica Inc. Funding II LLC CONSOL. & RECLASS. Inc. Inc. Inc. CONSOL. CONSOL ------- ---------- ---- ---- ---- ------- ------ BALANCE JANUARY 1, 2001 $ 10,481 $(15,372) $ 10,481 $ - $ - $ 9,618 $ 6,247 NET INCOME 17,917 (3,838) 17,917 - - 1,245 2,899 -------- -------- -------- --- --- -------- -------- TOTAL 28,398 (19,210) 28,398 - - 10,863 9,146 -------- -------- -------- --- --- -------- -------- DIVIDENDS DECLARED - - - - - - - -------- -------- -------- --- --- -------- -------- -------- -------- -------- --- --- -------- -------- BALANCE DECEMBER 31, 2001 $ 28,398 $(19,210) $ 28,398 $ - $ - $ 10,863 $ 9,146 ======== ======== ======== === === ======== ======== PSEG PSEG PSEG La Plata II La Plata I Global (US) (US) Mgt Inc. ---- ---- -------- BALANCE JANUARY 1, 2001 $ - $ - $ (493) NET INCOME - - (306) --- --- -------- TOTAL - - (799) --- --- -------- DIVIDENDS DECLARED - - - --- --- -------- --- --- -------- BALANCE DECEMBER 31, 2001 $ - $ - $ (799) === === ========
PSEG AMERICAS INC. CONSOLIDATING BALANCE SHEET 31-Dec-01 ($ IN THOUSANDS)
PSEG PSEG Americas INTERCOMPANY PSEG Andina Texgen Holdings Inc. ELIMINATIONS Americas Cuyana Electrica Inc. CONSOL. & RECLASS. Inc. Inc. Inc. CONSOL. ------- ---------- ---- ---- ---- ------- ASSETS CURRENT ASSETS Cash and temporary cash investments $ 7,581 $ - $ 593 $ - $ - $ 9 Accounts and Notes receivable: Trade 5,516 - - - - 5,515 Other 6 - - - - PSE&G - - - - - - PSEG - - - - - - PSEG Power 24 24 PSEG Energy Holdings - - - - - Other associated companies 71,001 (58,468) 77,514 - - 6,360 Notes receivable: - - - Associated companies - - - - - - Assets Held for Sale 39,321 - - - Other - - - - - - Interest receivable - - - - - - Prepayments 8 - 8 - - - --------- -------- --------- --- --- --------- Total Current Assets 123,457 (58,468) 78,139 - - 11,884 --------- -------- --------- --- --- --------- PROPERTY, PLANT AND EQUIPMENT Real estate - - - - - - Other - - - - - - Accum. depr. and amortization - - - - - - Valuation allowances - - - - - - --------- -------- --------- --- --- --------- Property, Plant and Equipment-net - - - - - - --------- -------- --------- --- --- --------- INVESTMENTS Subsidiaries - (216,478) 216,478 - - - Capital lease agreements - - - - - - Partnership interests 270,642 - 164,045 - - 106,597 Corporate joint ventures 167,550 - 4,682 - - - Securities - - - - - - Valuation allowances - - - - - - --------- -------- --------- --- --- --------- Total Investments 438,192 (216,478) 385,205 - - 106,597 --------- -------- --------- --- --- --------- OTHER ASSETS Long-term receivables - - - Other 21,099 - 4,096 - - - --------- --------- --------- --- --- --------- Total Other Assets 21,099 - 4,096 - - - --------- --------- --------- --- --- --------- TOTAL ASSETS $ 582,748 $(274,946) $ 467,440 $ - $ - $ 118,481 ========= ========= ========= === === ========= PSEG Global PSEG PSEG PSEG Funding II LLC La Plata II La Plata I Global CONSOL (US) (US) Mgt Inc. ------ ---- ---- -------- ASSETS CURRENT ASSETS Cash and temporary cash investments $ 6,924 $ - $ - $ 55 Accounts and Notes receivable: Trade 1 - - - Other 6 - - - PSE&G - - - - PSEG - - - - PSEG Power PSEG Energy Holdings - - - - Other associated companies 45,595 - - - Notes receivable: Associated companies - - - - Assets Held for Sale 51 39,270 Other - - - - Interest receivable - - - - Prepayments - - - - --------- ---------- -------- --------- Total Current Assets 52,526 51 39,270 55 --------- ---------- -------- --------- PROPERTY, PLANT AND EQUIPMENT Real estate - - - - Other - - - - Accum. depr. and amortization - - - - Valuation allowances - - - - --------- ---------- -------- --------- Property, Plant and Equipment-net - - - - --------- ---------- -------- --------- INVESTMENTS Subsidiaries - - - - Capital lease agreements - - - - Partnership interests - - - - Corporate joint ventures 162,868 - - - Securities - - - - Valuation allowances - - - - --------- ---------- --------- --------- Total Investments 162,868 - - - --------- ---------- --------- --------- OTHER ASSETS Long-term receivables Other 17,003 - - - --------- --------- --------- --------- Total Other Assets 17,003 - - - --------- ---------- --------- --------- TOTAL ASSETS $ 232,397 $ 51 $ 39,270 $ 55 ========= ========= ========= =========
PSEG AMERICAS INC. CONSOLIDATING BALANCE SHEET 31-Dec-01 ($ IN THOUSANDS)
PSEG PSEG Americas INTERCOMPANY PSEG Andina Texgen Holdings Inc. ELIMINATIONS Americas Cuyana Electrica Inc. CONSOL. & RECLASS. Inc. Inc. Inc. CONSOL. ------- ---------- ---- ---- ---- ------- LIABILITIES AND STOCKHOLDER'S EQUITY CURRENT LIABILITIES Accounts payable: Trade $ (1) $ - $ - $ - $ - $ - Taxes - - - - - - Other 234 - - - - - Interest 877 - - - - - Associated companies 172,137 (58,468) 222,613 - - 4,797 Notes payable: - - - PSEG Capital Corporation - - - - - - Enterprise Capital Funding Corp. - - - - - - Enterprise Group Development Corp. - - - - - - Enterprise Diversified Holdings Inc. - - - - - - U.S.Energy Incorporated - - - - - - Current portion of long-term debt - - - - - - --------- --------- --------- --- --- --------- Total Current Liabilities 173,247 (58,468) 222,613 - - 4,797 --------- --------- --------- --- --- --------- TOTAL LONG-TERM DEBT 160,000 - - - - - --------- --------- --------- --- --- --------- DEFERRED CREDITS Deferred income taxes 890 - 2,391 - - (2,671) Deferred investment - - - and energy tax credits - - - - - - Other 13,213 - 7,039 - - 6,174 --------- --------- --------- --- --- --------- Total Deferred Credits 14,103 - 9,430 - - 3,503 --------- --------- --------- --- --- --------- MINORITY INTEREST - - - - - - --------- --------- --------- --- --- --------- STOCKHOLDER'S EQUITY Capital stock 1 (1) 1 - - - Stock Subs Payable - - - - - - Contributed capital 213,537 (203,805) 213,537 - - 105,856 Retained earnings 28,398 (19,210) 28,398 - - 10,863 Other Comprehensive Income (6,538) 6,538 (6,538) (6,538) Cumulative Translation Adjustment - - - - - - --------- --------- --------- --- --- --------- Total Stockholder's Equity 235,398 (216,478) 235,397 - - 110,181 --------- --------- --------- --- --- --------- TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY $ 582,748 $(274,946) $ 467,440 $ - $ - $ 118,481 ========= ========= ========= === === ========= PSEG Global PSEG PSEG PSEG Funding II LLC La Plata II La Plata I Global CONSOL (US) (US) Mgt Inc. ------ ---- ---- -------- LIABILITIES AND STOCKHOLDER'S EQUITY CURRENT LIABILITIES Accounts payable: Trade $ - $ - $ - $ - Taxes - - - - Other 158 - - 76 Interest 877 - - - Associated companies 2,417 - - 778 Notes payable: PSEG Capital Corporation - - - - Enterprise Capital Funding Corp. - - - - Enterprise Group Development Corp. - - - - Enterprise Diversified Holdings Inc. - - - - U.S.Energy Incorporated - - - - Current portion of long-term debt - - - - --------- --------- --------- --------- Total Current Liabilities 3,452 - - 854 --------- --------- --------- --------- TOTAL LONG-TERM DEBT 160,000 - - - --------- --------- --------- --------- DEFERRED CREDITS Deferred income taxes 1,170 - - - Deferred investment and energy tax credits - - - - Other - - - - --------- --------- --------- --------- Total Deferred Credits 1,170 - - - --------- --------- --------- --------- MINORITY INTEREST - - - - --------- --------- --------- --------- STOCKHOLDER'S EQUITY Capital stock 1 - - - Stock Subs Payable - - - - Contributed capital 58,628 51 39,270 - Retained earnings 9,146 - - (799) Other Comprehensive Income - Cumulative Translation Adjustment - - - - --------- --------- --------- --------- Total Stockholder's Equity 67,775 51 39,270 (799) --------- --------- --------- --------- TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY $ 232,397 $ 51 $ 39,270 $ 55 ========= ========= ========= =========
PSEG GLOBAL HOLDING COMPANY CONSOLIDATING STATEMENT OF INCOME FOR THE YEAR ENDING DECEMBER 31, 2001 ($ IN THOUSANDS) PSEG Global PSEG Holding INTERCOMPANY Global Company ELIMINATIONS Holding PSEG CONSOL. & RECLASS. Company Europe -------- ------------ ------- ------ REVENUES: Income from partnerships $ 67,579 $ - $ - $ (1,296) Income from capital lease agreements - - - - Gain on Withdrawal from Partnership 667 - - - Realized gains (losses) on investments - - - - Interest and dividend income 15,447 - - - Other 13,744 - - 25 Electric Revenues Generation 78,681 19,994 Distribution 93,205 Equity in subsidiary earnings - (81,531) 81,531 - --------- ------------ --------- --------- Total revenues 269,323 (81,531) 81,531 18,723 --------- ------------ --------- --------- OPERATING EXPENSES: Operation and maintenance 28,517 - - 7,776 Write off of investments 6,937 Depreciation and amortization 13,914 - - 1,103 Electric and Energy Costs 84,829 8,690 Administrative and general 14,560 - 2 2,455 --------- ------------ --------- --------- Total operating expenses 148,757 - 2 20,024 --------- ------------ --------- --------- OPERATING INCOME 120,566 (81,531) 81,529 (1,301) --------- ------------ --------- --------- OTHER INCOME: Gain on sale - other 951 951 Change in Derivative Fair Value - FAS 133 (238) (3,705) Foreign currency translation Gain/Loss (228) - - (828) --------- ------------ --------- --------- Total Other Income 485 - - (3,582) --------- ------------ --------- --------- INTEREST EXPENSE: PSEG Capital Corporation - - - - Enterprise Capital Funding Corp. - - - - Other Associated Companies 835 - - - Other 20,060 - - 132 Capitalized interest (682) - - - --------- ------------ --------- --------- Net interest expense 20,213 - - 132 --------- ------------ --------- --------- INCOME BEFORE INCOME TAXES 100,838 (81,531) 81,529 (5,015) --------- ------------ --------- --------- INCOME TAXES: Current 39 - - (60) Deferred 16,671 - - (1,297) Foreign Taxes 7,212 Investment and energy tax credits - net - - - - --------- ------------ --------- --------- Total income taxes 23,922 - - (1,357) --------- ------------ --------- --------- MINORITY INTERESTS 4,236 - - (1,226) --------- ------------ --------- --------- INCOME BEFORE EXTRAORDINARY ITEM AND CUMULATIVE EFFECT OF A CHANGE IN ACCOUNTING PRINCIPLE 72,680 (81,531) 81,529 (2,432) --------- ------------ --------- --------- Extraordinary Loss on Early Retirement of Debt (net of tax) - Cumulative Effect of a Change in Accounting Principle 8,849 --------- ------------ --------- --------- NET INCOME $ 81,529 $ (81,531) $ 81,529 $ (2,432) ========= ============ ========= ========= PSEG GLOBAL HOLDING COMPANY CONSOLIDATING STATEMENT OF INCOME FOR THE YEAR ENDING DECEMBER 31, 2001 ($ IN THOUSANDS) PSEG Global PSEG Int'l Holdings INTERCOMPANY Global PSEG LLC ELIMINATIONS Int'l Holdings Americas CONSOL & RECLASS. LLC Ltd. -------------- ------------ -------------- --------- REVENUES: Income from partnerships $ 68,875 $ - $ - $ 68,875 Income from capital lease agreements - - - - Gain on Withdrawal from Partnership 667 - - 667 Realized gains (losses) on investments - - - - Interest and dividend income 15,447 - - 15,447 Other 13,719 - - 13,719 Electric Revenues Generation 58,687 58,687 Distribution 93,205 93,205 Equity in subsidiary earnings - (83,963) 83,963 - -------------- --------------- -------------- --------- Total revenues 250,600 (83,963) 83,963 250,600 -------------- --------------- -------------- --------- OPERATING EXPENSES: Operation and maintenance 20,741 - - 20,741 Write off of investments 6,937 6,937 Depreciation and amortization 12,811 - - 12,811 Electric and Energy Costs 76,139 76,139 Administrative and general 12,103 - - 12,103 -------------- --------------- -------------- --------- Total operating expenses 128,731 - - 128,731 -------------- --------------- -------------- --------- OPERATING INCOME 121,869 (83,963) 83,963 121,869 -------------- --------------- -------------- --------- OTHER INCOME: Gain on sale - other - - Change in Derivative Fair Value - FAS 133 3,467 3,467 Foreign currency translation Gain/Loss 600 - - 600 -------------- --------------- -------------- --------- Total Other Income 4,067 (83,963) - 4,067 -------------- --------------- -------------- --------- INTEREST EXPENSE: PSEG Capital Corporation - - - - Enterprise Capital Funding Corp. - - - - Other Associated Companies 835 - - 835 Other 19,928 - - 19,928 Capitalized interest (682) - - (682) -------------- --------------- -------------- --------- Net interest expense 20,081 - - 20,081 -------------- --------------- -------------- --------- INCOME BEFORE INCOME TAXES 105,855 (167,926) 83,963 105,855 -------------- --------------- -------------- --------- INCOME TAXES: Current 99 - - 99 Deferred 18,039 - - 17,968 Foreign Taxes 7,141 7,212 Investment and energy tax credits - net - - - - -------------- --------------- -------------- --------- Total income taxes 25,279 - - 25,279 -------------- --------------- -------------- --------- MINORITY INTERESTS 5,462 - - 5,462 -------------- --------------- -------------- --------- INCOME BEFORE EXTRAORDINARY ITEM AND CUMULATIVE EFFECT OF A CHANGE IN ACCOUNTING PRINCIPLE 75,114 (167,926) 83,963 75,114 -------------- --------------- -------------- --------- Extraordinary Loss on Early Retirement of Debt (net of tax) - - Cumulative Effect of a Change in Accounting Principle 8,849 8,849 -------------- --------------- -------------- --------- NET INCOME $ 83,963 $ (167,926) $ 83,963 $ 83,963 ============== =============== ============== =========
PSEG GLOBAL HOLDING COMPANY CONSOLIDATING STATEMENT OF RETAINED EARNINGS FOR THE YEAR ENDING DECEMBER 31, 2001 ($ IN THOUSANDS) PSEG PSEG Global PSEG Global PSEG Holding INTERCOMPANY Global Int'l Holdings INTERCOMPANY Global PSEG Company ELIMINATIONS Holding PSEG LLC ELIMINATIONS Int'l Holdings Americas CONSOL. & RECLASS. Company Europe CONSOL & RECLASS. LLC Ltd. --------- ------------ --------- ------ -------------- ------------ -------------- -------- BALANCE JANUARY 1, 2001 $ 66,927 $ (66,927) $ 66,927 $ (3,237) $ 70,602 $ (70,602) $ 70,602 $ 70,602 NET INCOME 81,529 (81,531) 81,529 (2,432) 83,963 (83,963) 83,963 83,963 --------- ---------- --------- --------- -------------- ----------- -------------- --------- TOTAL 148,456 (148,458) 148,456 (5,669) 154,565 (154,565) 154,565 154,565 --------- ---------- --------- --------- -------------- ----------- -------------- --------- DIVIDENDS DECLARED - - - - - - - - --------- ---------- --------- --------- -------------- ----------- -------------- --------- --------- ---------- --------- --------- -------------- ----------- -------------- --------- BALANCE DECEMBER 31, 2001 148,456 $ (148,458) $ 148,456 $ (5,669) $ 154,565 $ (154,565) $ 154,565 $ 154,565 ========= ========== ========= ========= ============== =========== ============== =========
PSEG GLOBAL HOLDING COMPANY CONSOLIDATING BALANCE SHEET DECEMBER 31, 2001 ($ IN THOUSANDS) PSEG PSEG Global PSEG Global Holding INTERCOMPANY Global Int'l Holdings Company ELIMINATIONS Holding PSEG LLC CONSOL. & RECLASS. Company Europe CONSOL ------- ------------ ------- ------ -------------- ASSETS CURRENT ASSETS Cash and temporary cash investments $ 41,002 $ - $ - $ 19,620 $ 21,382 Accounts and Notes receivable: Trade 121,260 - - 7,329 113,931 Other 16,500 - - 3,620 12,880 PSE&G 381 - - - 381 PSEG - - - - - PSEG Energy Holdings 466 466 Other associated companies 530,625 - 3,000 165,009 362,616 Notes receivable: - Associated companies - - - - - Other 4,673 - - - 4,673 Interest receivable 7 - - - 7 Assets held for sale 326,049 - 326,049 Restricted Cash - - - Prepayments 768 - - (409) 1,177 Inventory 17,785 - 1,643 16,142 ---------- ------------ ----------- --------- -------------- Total Current Assets 1,059,516 - 3,000 196,812 859,704 ---------- ------------ ----------- --------- -------------- PROPERTY, PLANT AND EQUIPMENT Real estate 822,382 - - - 822,382 Other 381,057 - - 131,466 249,591 Accum. depr. and amortization (134,863) - - (1,107) (133,756) Valuation allowances - - - - - ----------- ------------- ------------ ---------- --------------- Property, Plant and Equipment-net 1,068,576 - - 130,359 938,217 ----------- ------------- ------------ ---------- --------------- INVESTMENTS Subsidiaries - (1,373,621) 1,373,621 - - Capital lease agreements - - - - - Partnership interests (7) - (7) - - Corporate joint ventures 909,086 - - 75,974 833,112 Securities - - - - - Valuation allowances - - - - - ----------- ------------- ------------ ---------- --------------- Total Investments 909,079 (1,373,621) 1,373,614 75,974 833,112 ----------- ------------- ------------ ---------- --------------- OTHER ASSETS Goodwill 575,584 6,290 569,294 Derivative Asset 38,659 38,659 Other 72,656 - - 18,649 54,007 ----------- ------------- ------------ ---------- --------------- Total Other Assets 686,899 - - 24,939 661,960 ----------- ------------- ------------ ---------- --------------- TOTAL ASSETS $3,724,070 $ (1,373,621) $ 1,376,614 $ 428,084 $ 3,292,993 =========== ============= ============ ========== =============== PSEG GLOBAL HOLDING COMPANY CONSOLIDATING BALANCE SHEET DECEMBER 31, 2000 (IN THOUSANDS) PSEG INTERCOMPANY Global PSEG ELIMINATIONS Int'l Holdings Americas & RECLASS. LLC Ltd. ------------ -------------- --------- ASSETS CURRENT ASSETS Cash and temporary cash investments $ - $ - $ 21,382 Accounts and Notes receivable: Trade (12) - 113,943 Other - - 12,880 PSE&G - - 381 PSEG - - - PSEG Energy Holdings 466 Other associated companies - - 362,616 Notes receivable: - Associated companies - - - Other - - 4,673 Interest receivable - - 7 Assets held for sale - - 326,049 Restricted Cash - Prepayments - - 1,177 Inventory 16,142 ------------ -------------- ----------- Total Current Assets (12) - 859,716 ------------ -------------- ----------- PROPERTY, PLANT AND EQUIPMENT Real estate - - 822,382 Other - - 249,591 Accum. depr. and amortization - - (133,756) Valuation allowances - - - ------------- --------------- ------------ Property, Plant and Equipment-net - - 938,217 ------------- --------------- ------------ INVESTMENTS Subsidiaries (1,342,478) 1,324,376 18,102 Capital lease agreements - - - Partnership interests - - - Corporate joint ventures - - 833,112 Securities - - - Valuation allowances - - - ------------- --------------- ------------ Total Investments (1,342,478) 1,324,376 851,214 ------------- --------------- ------------ OTHER ASSETS Goodwill 569,294 Derivative Asset 38,659 Other - - 54,007 ------------- --------------- ------------ Total Other Assets - - 661,960 ------------- --------------- ------------ TOTAL ASSETS $ (1,342,490) $ 1,324,376 $ 3,311,107 ============= =============== ============
LIABILITIES AND STOCKHOLDER'S EQUITY CURRENT LIABILITIES Accounts payable: Trade $ 61,859 $ - $ - $ 19,063 $ 42,796 - Taxes 7,363 - - - 7,363 - Other 23,609 - - 3,103 20,506 - Interest 10,159 - - 1,445 8,714 - Associated companies 1,211,486 - - 213,035 998,451 (18,102) Notes payable: - PSEG Capital Corporation - - - - - - Enterprise Capital Funding Corp. - - - - - - Enterprise Group Development Corp. - - - - - - PSEG Energy Holdings Inc. 9,609 - - - 9,609 - Other 284,597 - - 1,883 282,714 - Current portion of long-term debt 41,703 - - - 41,703 - ------------ ------------- ------------ ---------- ------------ ------------- Total Current Liabilities 1,650,385 - - 238,529 1,411,856 (18,102) ------------ ------------- ------------ ---------- ------------ ------------- TOTAL LONG-TERM DEBT 559,779 - - 115,705 444,074 - ------------ ------------- ------------ ---------- ------------ ------------- DEFERRED CREDITS Deferred income taxes 301 - - (19,322) 19,623 - Deferred investment - - - - - - and energy tax credits - - - - - - Derivative Liability 62,915 53,566 9,349 Other 8,510 - - - 8,510 - ------------ ------------- ------------ ---------- ------------ ------------- Total Deferred Credits 71,726 - - 34,244 37,482 - --------------------------- ------------ ---------- ------------ ------------- MINORITY INTEREST 65,566 (9,651) 75,217 ------------ ------------- ------------ ---------- ------------ ------------- STOCKHOLDER'S EQUITY Capital stock - - - - - (12) Stock Subs Payable - - - - - (12) Contributed capital 1,490,962 (1,484,292) 1,490,962 69,514 1,414,778 (1,418,757) Retained earnings 148,456 (152,133) 148,456 (2,432) 154,565 (150,586) Other Comprehensive Income (17,222) 17,222 (17,222) (17,825) 603 (603) Cumulative Translation Adjustment (245,582) 245,582 (245,582) - (245,582) 245,582 ------------ ------------- ------------ ---------- ------------ ------------- Total Stockholder's Equity 1,376,614 (1,373,621) 1,376,614 49,257 1,324,364 (1,324,388) ------------ ------------- ------------ ---------- ------------ ------------- TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY $ 3,724,070 $ (1,373,621) $ 1,376,614 $ 428,084 $ 3,292,993 $ (1,342,490) ============ ============= ============ ========== ============ ============= CURRENT LIABILITIES Accounts payable: $ - $ 42,796 Trade - 7,363 Taxes - 20,506 Other - 8,714 Interest - 1,016,553 Associated companies - Notes payable: - - PSEG Capital Corporation - - Enterprise Capital Funding Corp. - - Enterprise Group Development Corp. - 9,609 PSEG Energy Holdings Inc. - 282,714 Other - 41,703 Current portion of long-term debt ------------ ------------ - 1,429,958 Total Current Liabilities ------------ ------------ - 444,074 ------------ ------------ DEFERRED CREDITS Deferred income taxes - 19,623 Deferred investment - - and energy tax credits - - Derivative Liability - 9,349 Other - 8,510 ------------ ------------ Total Deferred Credits - 37,482 ------------ ------------ MINORITY INTEREST 75,217 ------------ ------------ STOCKHOLDER'S EQUITY Capital stock Stock Subs Payable - 12 Contributed capital 12 - Retained earnings 1,414,778 1,418,757 Other Comprehensive Income 154,565 150,586 Cumulative Translation Adjustment 603 603 (245,582) (245,582) Total Stockholder's Equity ------------ ------------ 1,324,376 1,324,376 ------------ ------------ TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY $ 1,324,376 $ 3,311,107 ============ ============
PSEG AMERICAS LTD. CONSOLIDATING STATEMENT OF INCOME FOR THE YEAR ENDING DECEMBER 31, 20000 ($ IN THOUSANDS) PSEG Americas INTERCOMPANY PSEG PSEG Ltd. ELIMINATIONS Americas Peru CONSOL. & RECLASS. Ltd. LLC ------- ---------- ---- --- REVENUES: Income from partnerships $ 68,875 $ (8,575) $ 31,914 $ - Income from capital lease agreements - - - - Gain on Withdrawal from Partnership 667 - - - Realized gains (losses) on investments - - - - Interest and dividend income 15,447 - 14,518 - Other 13,719 986 - Electric Revenues Generation 58,687 Distribution 93,205 Equity in subsidiary earnings - (43,082) 43,082 - --------- ---------- ------------ -------- Total revenues 250,600 (51,657) 90,500 - --------- ---------- ------------ -------- OPERATING EXPENSES: Operation and maintenance 20,741 - - - Write off of investments 6,937 Depreciation and amortization 12,811 - - - Electric and Energy Costs 76,139 Administrative and general 12,103 1,275 - --------- -------------------------- -------- Total operating expenses 128,731 - 1,275 - --------- ---------- ------------ -------- OPERATING INCOME 121,869 (51,657) 89,225 - --------- ---------- ------------ -------- OTHER INCOME Change in Derivative Fair Value - FAS 133 3,467 Foreign currency Translation Gain/Loss 600 - - - --------- ---------- ------------ -------- Total Other Income 4,067 - - - --------- ---------- ------------ -------- INTEREST EXPENSE: PSEG Capital Corporation - - - - Enterprise Capital Funding Corp. - - - - Other Associated Companies 835 - - - Other 19,928 - (11,085) - Capitalized interest (682) - - - --------- ---------- ------------ -------- Net interest expense 20,081 - (11,085) - --------- ---------- ------------ -------- INCOME BEFORE INCOME TAXES 105,855 (51,657) 100,310 - --------- ---------- ------------ -------- INCOME TAXES: Current 99 - - - Deferred 17,968 - 16,739 - Foreign Taxes 7,212 Investment and energy tax credits - net - - - - --------- ---------- ------------ -------- Total income taxes 25,279 - 16,739 - --------- ---------- ------------ -------- MINORITY INTERESTS 5,462 953 (392) - --------- ---------- ------------ -------- INCOME BEFORE EXTRAORDINARY ITEM AND CUMULATIVE EFFECT OF A CHANGE IN ACCOUNTING PRINCIPLE 75,114 (52,610) 83,963 - --------- ---------- ------------ -------- Extraordinary Loss on Early Retirement of Debt (net of tax) - Cumulative Effect of a Change in Accounting Principle 8,849 --------- ---------- ------------ -------- NET INCOME $ 83,963 $ (52,610) $ 83,963 $ - ========= ========== ============ ======== PSEG Andina PSEG Americas Associacion Mendoza I Brazil Holdings Inc. en Participacion Company Operating Co (Cayman) (Peru) (Cayman) (Cayman) -------- ------ -------- -------- REVENUES: Income from partnerships $ - $ - $ - $ - Income from capital lease agreements - - - - Gain on Withdrawal from Partnership - - - - Realized gains (losses) on investments - - - - Interest and dividend income - - - - Other - - - - Electric Revenues Generation Distribution Equity in subsidiary earnings - - - - --------- -------------- ------------ ---------- Total revenues - - - - --------- -------------- ------------ ---------- OPERATING EXPENSES: Operation and maintenance - - - - Write off of investments Depreciation and amortization - - - - Electric and Energy Costs Administrative and general - 346 - - --------- -------------- ------------ ---------- Total operating expenses - 346 - - --------- -------------- ------------ ---------- OPERATING INCOME - (346) - - --------- -------------- ------------ ---------- OTHER INCOME Change in Derivative Fair Value - FAS 133 Foreign currency Translation Gain/Loss - - - - --------- -------------- ------------ ---------- Total Other Income - - - - --------- -------------- ------------ ---------- INTEREST EXPENSE: PSEG Capital Corporation - - - - Enterprise Capital Funding Corp. - - - - Other Associated Companies - - - - Other - - - - Capitalized interest - - - - --------- -------------- ------------ ---------- Net interest expense - - - - --------- -------------- ------------ ---------- INCOME BEFORE INCOME TAXES - (346) - - --------- -------------- ------------ ---------- INCOME TAXES: Current - - - - Deferred - - - - Foreign Taxes Investment and energy tax credits - net - - - - --------- -------------- ------------ ---------- Total income taxes - - - - --------- -------------- ------------ ---------- MINORITY INTERESTS - - - - --------- -------------- ------------ ---------- INCOME BEFORE EXTRAORDINARY ITEM AND CUMULATIVE EFFECT OF A CHANGE IN ACCOUNTING PRINCIPLE - (346) - - --------- -------------- ------------ ---------- Extraordinary Loss on Early Retirement of Debt (net of tax) Cumulative Effect of a Change in Accounting Principle --------- -------------- ------------ ---------- NET INCOME $ - $ (346) $ - $ - ========= ============== ============ ========== Venergy Rayo-Andino Rayo-Andino Distribuidora Terra Roxa I Gestora Inversora Dos Ltda. Company Company (Cayman) (Cayman) (Cayman) (Cayman) -------- -------- -------- -------- REVENUES: Income from partnerships $ - $ - $ - $ - Income from capital lease agreements - - - - Gain on Withdrawal from Partnership - - - - Realized gains (losses) on investments - - - - Interest and dividend income - - - - Other - - - - Electric Revenues Generation Distribution Equity in subsidiary earnings - - - - ----------- ------------- ---------- ---------- Total revenues - - - - ----------- ------------- ---------- ---------- OPERATING EXPENSES: Operation and maintenance - - - - Write off of investments Depreciation and amortization - - - - Electric and Energy Costs Administrative and general - - - - ----------- ------------- ---------- ---------- Total operating expenses - - - - ----------- ------------- ---------- ---------- OPERATING INCOME - - - - ----------- ------------- ---------- ---------- OTHER INCOME Change in Derivative Fair Value - FAS 133 Foreign currency Translation Gain/Loss - - - - ----------- ------------- ---------- ---------- Total Other Income - - - - ----------- ------------- ---------- ---------- INTEREST EXPENSE: PSEG Capital Corporation - - - - Enterprise Capital Funding Corp. - - - - Other Associated Companies - - - - Other - - - - Capitalized interest - - - - ----------- ------------- ---------- ---------- Net interest expense - - - - ----------- ------------- ---------- ---------- INCOME BEFORE INCOME TAXES - - - - ----------- ------------- ---------- ---------- INCOME TAXES: Current - - - - Deferred - - - - Foreign Taxes Investment and energy tax credits - net - - - - ----------- ------------- ---------- ---------- Total income taxes - - - - ----------- ------------- ---------- ---------- MINORITY INTERESTS - - - - ----------- ------------- ---------- ---------- INCOME BEFORE EXTRAORDINARY ITEM AND CUMULATIVE EFFECT OF A CHANGE IN ACCOUNTING PRINCIPLE - - - - ----------- ------------- ---------- ---------- Extraordinary Loss on Early Retirement of Debt (net of tax) Cumulative Effect of a Change in Accounting Principle ----------- ------------- ---------- ---------- NET INCOME $ - $ - $ - $ - =========== ============= ========== ========== PSEG Transamerica Cayman Energy PSEG Americas Company Brazil Company (Cayman) Ltda. Edeersa CONSOL. -------- ----- ------- ------- REVENUES: Income from partnerships $ - $ - $ - $ - Income from capital lease agreements - - - - Gain on Withdrawal from Partnership - - - 667 Realized gains (losses) on investments - - - - Interest and dividend income - - - 132 Other - - 4,154 - Electric Revenues Generation Distribution 52,190 Equity in subsidiary earnings - - - - ------- --------- ------------ ----------- Total revenues - - 56,344 799 ------- --------- ------------ ----------- OPERATING EXPENSES: Operation and maintenance - - 13,267 - Write off of investments Depreciation and amortization - 39 5,895 - Electric and Energy Costs 20,639 Administrative and general - 1,558 1,039 67 ------- --------- ------------ ----------- Total operating expenses - 1,597 40,840 67 ------- --------- ------------ ----------- OPERATING INCOME - (1,597) 15,504 732 ------- --------- ------------ ----------- OTHER INCOME Change in Derivative Fair Value - FAS 133 Foreign currency Translation Gain/Loss - (47) - - ------- --------- ------------ ----------- Total Other Income - (47) - - ------- --------- ------------ ----------- INTEREST EXPENSE: PSEG Capital Corporation - - - - Enterprise Capital Funding Corp. - - - - Other Associated Companies - - - - Other - - 1,016 - Capitalized interest - - (171) - ------- --------- ------------ ----------- Net interest expense - - 845 - ------- --------- ------------ ----------- INCOME BEFORE INCOME TAXES - (1,644) 14,659 732 ------- --------- ------------ ----------- INCOME TAXES: Current - - - - Deferred - - - - Foreign Taxes 5,131 Investment and energy tax credits - net - - - - ------- --------- ------------ ----------- Total income taxes - - 5,131 - ------- --------- ------------ ----------- MINORITY INTERESTS - - - - ------- --------- ------------ ----------- INCOME BEFORE EXTRAORDINARY ITEM AND CUMULATIVE EFFECT OF A CHANGE IN ACCOUNTING PRINCIPLE - (1,644) 9,528 732 ------- --------- ------------ ----------- Extraordinary Loss on Early Retirement of Debt (net of tax) Cumulative Effect of a Change in Accounting Principle ------- --------- ------------ ----------- NET INCOME $ - $ (1,644) $ 9,528 $ 732 ======= ========= ============ ===========
PSEG Venergy Americas Peru Power Holdings PSEG Operating PSEG Ltd. Company Electrica Company Brazil II (Cayman) (Cayman) (Cayman) CONSOL. Company ---------- --------- --------- ------- ---------- REVENUES: Income from partnerships $ - $ 1,779 $ - $ 3,447 $ - Income from capital lease agreements - - - - - Gain on Withdrawal from Partnership - - - - - Realized gains (losses) on investments - - - - - Interest and dividend income - - - 797 - Other - - - - - Electric Revenues Generation Distribution Equity in subsidiary earnings - - - - - --------- ---------- --------- --------- -------- Total revenues - 1,779 - 4,244 - --------- ---------- --------- --------- -------- OPERATING EXPENSES: Operation and maintenance - - - - - Write off of investments Depreciation and amortization - - - - - Electric and Energy Costs Administrative and general - 88 - 115 - --------- ---------- --------- --------- -------- Total operating expenses - 88 - 115 - --------- ---------- --------- --------- -------- OPERATING INCOME - 1,691 - 4,129 - --------- ---------- --------- --------- -------- OTHER INCOME Change in Derivative Fair Value - FAS 133 Foreign currency Translation Gain/Loss - - - - - --------- ---------- --------- --------- -------- Total Other Income - - - - - INTEREST EXPENSE: PSEG Capital Corporation - - - - - Enterprise Capital Funding Corp. - - - - - Other Associated Companies - - - - - Other - - - 13,348 - Capitalized interest - - - - - --------- ---------- --------- --------- -------- Net interest expense - - - 13,348 - --------- ---------- --------- --------- -------- INCOME BEFORE INCOME TAXES - 1,691 - (9,219) - --------- ---------- --------- --------- -------- INCOME TAXES: Current - - - - - Deferred - - - - - Foreign Taxes Investment and energy tax credits - net - - - - - --------- ---------- --------- --------- -------- Total income taxes - - - - - MINORITY INTERESTS - - - - --------- ---------- --------- --------- -------- INCOME BEFORE EXTRAORDINARY ITEM AND CUMULATIVE EFFECT OF A CHANGE IN ACCOUNTING PRINCIPLE - 1,691 - (9,219) - --------- ---------- --------- --------- -------- Extraordinary Loss on Early Retirement of Debt (net of tax) Cumulative Effect of a Change in Accounting Principle --------- ---------- --------- --------- -------- NET INCOME $ - $ 1,691 $ - $ (9,219) $ - ========= ========== ========= ========= ======== PSEG PSEG PSEG PSEG Global Chilean Brazil III Wildwood I Funding II Equity II Ltd Company Ltd. Corp. CONSOL. ---------- ---------- ---------- ------------- REVENUES: Income from partnerships $ - $ 111 $ - $ 21,090 Income from capital lease agreements - - - - Gain on Withdrawal from Partnership - - - - Realized gains (losses) on investments - - - - Interest and dividend income - - - - Other - - - - Electric Revenues Generation Distribution Equity in subsidiary earnings - - - - ----------- ---------- -------- ---------- Total revenues - 111 - 21,090 ----------- ---------- -------- ---------- OPERATING EXPENSES: Operation and maintenance - - - - Write off of investments Depreciation and amortization - - - - Electric and Energy Costs Administrative and general - 51 - 867 ----------- ---------- -------- ---------- Total operating expenses - 51 - 867 ----------- ---------- -------- ---------- OPERATING INCOME - 60 - 20,223 ----------- ---------- -------- ---------- OTHER INCOME Change in Derivative Fair Value - FAS 133 Foreign currency Translation Gain/Loss - - - (2) ----------- ---------- -------- ---------- Total Other Income - - - (2) ----------- ---------- -------- ---------- INTEREST EXPENSE: PSEG Capital Corporation - - - - Enterprise Capital Funding Corp. - - - - Other Associated Companies - - - - Other - - - 1,779 Capitalized interest - - - - ----------- ---------- -------- ---------- Net interest expense - - - 1,779 ----------- ---------- -------- ---------- INCOME BEFORE INCOME TAXES - 60 - 18,442 ----------- ---------- -------- ---------- INCOME TAXES: Current - - - - Deferred - - - - Foreign Taxes Investment and energy tax credits - net - - - - ----------- ---------- -------- ---------- Total income taxes - - - - ----------- ---------- -------- ---------- MINORITY INTERESTS - - - - ----------- ---------- -------- ---------- INCOME BEFORE EXTRAORDINARY ITEM AND CUMULATIVE EFFECT OF A CHANGE IN ACCOUNTING PRINCIPLE - 60 - 18,442 ----------- ---------- -------- ---------- Extraordinary Loss on Early Retirement of Debt (net of tax) Cumulative Effect of a Change in Accounting Principle ----------- ---------- -------- ---------- NET INCOME $ - $ 60 $ - $ 18,442 =========== ========== ======== ========== PSEG Chile Inversiones PSEG Holding Elegia Brazil PSEG Company Srl Investment Salalah CONSOL. CONSOL CONSOL. CONSOL. ----------- ---------- ------------- ----------- REVENUES: Income from partnerships $ 673 $ (47) $ 6,655 $ - Income from capital lease agreements - - - - Gain on Withdrawal from Partnership - - - - Realized gains (losses) on investments - - - - Interest and dividend income - - - - Other 7,999 - - 208 Electric Revenues Generation - 2,635 Distribution 41,015 - Equity in subsidiary earnings - - - - ---------- ---------- ------------- ----------- Total revenues 49,687 2,588 6,655 208 ---------- ---------- ------------- ----------- OPERATING EXPENSES: Operation and maintenance 3,272 117 - - Write off of investments - Depreciation and amortization 2,470 147 - - Electric and Energy Costs 25,500 57 Administrative and general 1,796 668 582 1,922 ---------- ---------- ------------- ----------- Total operating expenses 33,038 989 582 1,922 ---------- ---------- ------------- ----------- OPERATING INCOME 16,649 1,599 6,073 (1,714) ---------- ---------- ------------- ----------- OTHER INCOME Change in Derivative Fair Value - FAS 133 (121) - Foreign currency Translation Gain/Loss (1,796) - (188) - ---------- ---------- ------------- ----------- Total Other Income (1,917) - (188) - ---------- ---------- ------------- ----------- INTEREST EXPENSE: PSEG Capital Corporation - - - - Enterprise Capital Funding Corp. - - - - Other Associated Companies - - 835 - Other 8,956 407 - 253 Capitalized interest (427) - - - ---------- ---------- ------------- ----------- Net interest expense 8,529 407 835 253 ---------- ---------- ------------- ----------- INCOME BEFORE INCOME TAXES 6,203 1,192 5,050 (1,967) ---------- ---------- ------------- ----------- INCOME TAXES: Current - - 117 (2) Deferred (42) - - - Foreign Taxes 385 431 Investment and energy tax credits - net - - - - ---------- ---------- ------------- ----------- Total income taxes 343 431 117 (2) ---------- ---------- ------------- ----------- MINORITY INTERESTS 586 81 - - ---------- ---------- ------------- ----------- INCOME BEFORE EXTRAORDINARY ITEM AND CUMULATIVE EFFECT OF A CHANGE IN ACCOUNTING PRINCIPLE 5,274 680 4,933 (1,965) ---------- ---------- ------------- ----------- Extraordinary Loss on Early Retirement of Debt (net of tax) Cumulative Effect of a Change in Accounting Principle ---------- ---------- ------------- ----------- NET INCOME $ 5,274 $ 680 $ 4,933 $ (1,965) ========== ========== ============= =========== PSEG PSEG PSEG PSEG Bermuda Int'l China India Co. Holdings III Holding Co. Inc. CONSOL. CONSOL. CONSOL. Consol. ------------ ----------- ------------ ---------- REVENUES: Income from partnerships $ 3,278 $ (260) $ - $ 8,810 Income from capital lease agreements - - - - Gain on Withdrawal from Partnership - - - - Realized gains (losses) on investments - - - - Interest and dividend income - - - - Other 348 24 - - Electric Revenues - Generation 56,052 Distribution - Equity in subsidiary earnings - - - - -------- -------- -------- -------- Total revenues 3,626 55,816 - 8,810 -------- -------- -------- -------- OPERATING EXPENSES: Operation and maintenance 156 3,929 - - Write off of investments 6,937 Depreciation and amortization - 4,260 - - Electric and Energy Costs 29,943 Administrative and general 125 1,761 570 (825) -------- -------- -------- -------- Total operating expenses 281 46,830 570 (825) -------- -------- -------- -------- OPERATING INCOME 3,345 8,986 (570) 9,635 -------- -------- -------- -------- OTHER INCOME Change in Derivative Fair Value - FAS 133 3,588 Foreign currency Translation Gain/Loss - 2,634 - - -------- -------- -------- -------- Total Other Income - 2,634 3,588 - -------- -------- -------- -------- INTEREST EXPENSE: PSEG Capital Corporation - - - - Enterprise Capital Funding Corp. - - - - Other Associated Companies - - - - Other (6) 5,260 - - Capitalized interest - - - (84) -------- -------- -------- -------- Net interest expense (6) 5,260 - (84) -------- -------- -------- -------- INCOME BEFORE INCOME TAXES 3,351 6,360 3,018 9,719 -------- -------- -------- -------- INCOME TAXES: Current - - - (16) Deferred - - 1,255 16 Foreign Taxes 71 1,194 Investment and energy tax credits - net - - - - -------- -------- -------- -------- Total income taxes 71 1,194 1,255 - -------- -------- -------- -------- MINORITY INTERESTS - 3,292 942 - -------- -------- -------- -------- INCOME BEFORE EXTRAORDINARY ITEM AND CUMULATIVE EFFECT OF A CHANGE IN ACCOUNTING PRINCIPLE 3,280 1,874 821 9,719 -------- -------- -------- -------- Extraordinary Loss on Early Retirement of Debt (net of tax) Cumulative Effect of a Change in Accounting Principle - 8,849 -------- -------- -------- -------- NET INCOME $ 3,280 $ 1,874 $ 9,670 $ 9,719 ======== ======== ======== ======== Servicios PSEG PSEG Technicos Americas Luxembourg PSEG Chile II S.a.r.l. Ltda Ltd ----------------- ---------------- ---------------- REVENUES: Income from partnerships $ - $ - $ - Income from capital lease agreements - - - Gain on Withdrawal from Partnership - - - Realized gains (losses) on investments - - - Interest and dividend income - - - Other - - - Electric Revenues Generation Distribution Equity in subsidiary earnings - - - ----------------- ---------------- ---------------- Total revenues - - - ----------------- ---------------- ---------------- OPERATING EXPENSES: Operation and maintenance - - - Write off of investments Depreciation and amortization - - - Electric and Energy Costs Administrative and general 98 - - ----------------- ---------------- ---------------- Total operating expenses 98 - - ----------------- ---------------- ---------------- OPERATING INCOME (98) - - ----------------- ---------------- ---------------- OTHER INCOME Change in Derivative Fair Value - FAS 133 Foreign currency Translation Gain/Loss (1) - - ----------------- ---------------- ---------------- Total Other Income (1) - - ----------------- ---------------- ---------------- INTEREST EXPENSE: PSEG Capital Corporation - - - Enterprise Capital Funding Corp. - - - Other Associated Companies - - - Other - - - Capitalized interest - - - ----------------- ---------------- ---------------- Net interest expense - - - ----------------- ---------------- ---------------- INCOME BEFORE INCOME TAXES (99) - - ----------------- ---------------- ---------------- INCOME TAXES: Current - - - Deferred - - - Foreign Taxes Investment and energy tax credits - net - - - ----------------- ---------------- ---------------- Total income taxes - - - ----------------- ---------------- ---------------- MINORITY INTERESTS - - - ----------------- ---------------- ---------------- INCOME BEFORE EXTRAORDINARY ITEM AND CUMULATIVE EFFECT OF A CHANGE IN ACCOUNTING PRINCIPLE (99) - - ----------------- ---------------- ---------------- Extraordinary Loss on Early Retirement of Debt (net of tax) Cumulative Effect of a Change in Accounting Principle ----------------- ---------------- ---------------- NET INCOME $ (99) $ - $ - ================= ================ ================
PSEG AMERICAS LTD. CONSOLIDATING STATEMENT OF RETAINED EARNINGS FOR THE YEAR ENDING DECEMBER 31, 2000 FOR THE YEAR ENDING DECEMBER 31, 1999 ($ IN THOUSANDS) ($ IN THOUSANDS)
PSEG PSEG Americas INTERCOMPANY PSEG PSEG Americas Ltd. ELIMINATIONS Americas Peru Holdings Inc. CONSOL. & RECLASS. Ltd. LLC (Cayman) ---------------- ---------------------- ---------------- ------------ ---------------- BALANCE JANUARY 1, 2001 $ 70,602 $ 8,451 $ 66,623 $ (1) $ - NET INCOME 83,963 (52,610) 83,963 - - ---------------- ---------------------- ---------------- ------------ ---------------- TOTAL 154,565 (44,159) 150,586 (1) - ---------------- ---------------------- ---------------- ------------ ---------------- DIVIDENDS DECLARED - - - - - ---------------- ---------------------- ---------------- ------------ ---------------- ---------------- ---------------------- ---------------- ------------ ---------------- BALANCE DECEMBER 31, 2001 $ 154,565 $ (44,159) $ 150,586 $ (1) $ - ================ ====================== ================ ============ ================ Andina PSEG Venergy Associacion Mendoza I Brazil Distribuidora Terra Roxa I en Participacion Company Operating Co Dos Ltda. (Peru) (Cayman) (Cayman) (Cayman) (Cayman) ---------------- ---------------- ---------------- ---------------- ---------------- BALANCE JANUARY 1, 2001 $ 223 $ - $ - $ - $ - NET INCOME (346) - - - - ---------------- ---------------- ---------------- ---------------- ---------------- TOTAL (123) - - - - ---------------- ---------------- ---------------- ---------------- ---------------- DIVIDENDS DECLARED - - - - - ---------------- ---------------- ---------------- ---------------- ---------------- ---------------- ---------------- ---------------- ---------------- ---------------- BALANCE DECEMBER 31, 2001 $ (123) $ - $ - $ - $ - ================ ================ ================ ================ ================ Rayo-Andino Rayo-Andino Transamerica Gestora Inversora Energy PSEG Company Company Company Brazil (Cayman) (Cayman) (Cayman) Ltda. Edeersa ---------------- --------------- --------------- --------------- ---------------- BALANCE JANUARY 1, 2001 $ - $ - $ - $ (4,563) $ - NET INCOME - - - (1,644) 9,528 ---------------- --------------- --------------- --------------- ---------------- TOTAL - - - (6,207) 9,528 ---------------- --------------- --------------- --------------- ---------------- DIVIDENDS DECLARED - - - - - ---------------- --------------- --------------- --------------- ---------------- ---------------- --------------- --------------- --------------- ---------------- BALANCE DECEMBER 31, 2001 $ - $ - $ - $ (6,207) $ 9,528 ================ =============== =============== =============== ================ PSEG Cayman Americas Company CONSOL. ---------------- BALANCE JANUARY 1, 2001 $ (356) NET INCOME 732 ---------------- TOTAL 376 ---------------- DIVIDENDS DECLARED - ---------------- ---------------- BALANCE DECEMBER 31, 2001 $ 376 ================
PSEG AMERICAS LTD. CONSOLIDATING STATEMENT OF RETAINED EARNINGS FOR THE YEAR ENDING DECEMBER 31, 1999 ($ IN THOUSANDS)
PSEG PSEG Venergy Americas Peru Power Holdings PSEG Operating PSEG Ltd. Company Electrica Company Brazil II (Cayman) (Cayman) (Cayman) CONSOL. Company ---------------- ------------------ ------------------ -------------- ---------------- BALANCE JANUARY 1, 2001 $ - $ (251) $ - $ (40,032) $ - NET INCOME - 1,691 - (9,219) - ------------ ------------------ ------------------ -------------- ------------- TOTAL - 1,440 - (49,251) - ------------ ------------------ ------------------ -------------- ------------- DIVIDENDS DECLARED - - - - - ------------ ------------------ ------------------ -------------- ------------- ------------ ------------------ ------------------ -------------- ------------- BALANCE DECEMBER 31, 2001 $ - $ 1,440 $ - $ (49,251) $ - ==== ======= ==== ========= ==== PSEG PSEG PSEG Chile PSEG PSEG Global Chilean Holding Brazil III Wildwood I Funding II Equity II Ltd. Company Company Ltd. Corp. CONSOL. CONSOL. -------------- ------------------- ---------------- ------------------- ----------- BALANCE JANUARY 1, 2001 $ - $ (1,414) $ - $ 16,030 $ - NET INCOME - 60 - 18,442 5,274 -------------- ------------------- ---------------- ------------------- ----------- TOTAL - (1,354) - 34,472 5,274 -------------- ------------------- ---------------- ------------------- ----------- DIVIDENDS DECLARED - - - - - -------------- ------------------- ---------------- ------------------- ----------- -------------- ------------------- ---------------- ------------------- ----------- BALANCE DECEMBER 31, 2001 $ - $ (1,354) $ - $ 34,472 $ 5,274 ==== ======== ==== ======== ======= Inversiones PSEG PSEG PSEG Elegia Brazil Salalah India Co. Srl Investment Investment Investment CONSOL CONSOL. CONSOL. CONSOL. ------------------- -------------------- -------------------- ------------------- BALANCE JANUARY 1, 2001 $ - $ 26,125 $ 933 $ (433) NET INCOME 680 4,933 (1,965) 3,280 ------------------- -------------------- -------------------- ------------------- TOTAL 680 31,058 (1,032) 2,847 ------------------- -------------------- -------------------- ------------------- DIVIDENDS DECLARED - - - - ------------------- -------------------- -------------------- ------------------- ------------------- -------------------- -------------------- ------------------- BALANCE DECEMBER 31, 2001 $ 680 $ 31,058 $ (1,032) $ 2,847 ===== ======== ======== ======= PSEG PSEG PSEG Bermuda Holdings III International Holding Co. China Investment Investment Inc. CONSOL. CONSOL. Consol. -------------------- ------------------- --------------- BALANCE JANUARY 1, 2001 $ (133) $ (85) $ (292) NET INCOME 1,874 9,670 9,719 -------------------- ------------------- ------------------ TOTAL 1,741 9,585 9,427 -------------------- ------------------- ------------------ DIVIDENDS DECLARED - - - -------------------- ------------------- ------------------ -------------------- ------------------- ------------------ BALANCE DECEMBER 31, 2001 $ 1,741 $ 9,585 $ 9,427 ======= ======= ======= Servicios PSEG PSEG Technicos Americas Luxembourg PSEG Chile II S.a.r.l. Ltda Ltd ----------------- ---------------- ---------------- BALANCE JANUARY 1, 2001 $ - $ - $ - NET INCOME (99) - - ----------------- ---------------- ---------------- TOTAL (99) - - ----------------- ---------------- ---------------- DIVIDENDS DECLARED - - - ----------------- ---------------- ---------------- ----------------- ---------------- ---------------- BALANCE DECEMBER 31, 2001 $ (99) $ - $ - ================= ================ ================
December 31, 2000 ($ IN THOUSANDS) PSEG Americas INTERCOMPANY PSEG PSEG Ltd. ELIMINATIONS Americas Peru CONSOL. & RECLASS. Ltd. LLC ------------- ----------------- --------------- ---------------- ASSETS CURRENT ASSETS Cash and temporary cash investments $ 21,382 $ - $ 413 $ - Accounts and Notes receivable: Trade 113,943 - 15,612 - Other 12,880 - 11 - PSE&G 381 - - - PSEG - - - - PSEG Energy Holdings 466 Other associated companies 362,616 (14,200) 191,666 - Notes receivable: - Associated companies - - - - Other 4,673 - - - Interest receivable 7 - - - Inventory 16,142 Restricted Cash - Assets held for sale 326,049 249 Prepayments 1,177 - - - ------------- ----------------- --------------- ---------------- Total Current Assets 859,716 (14,200) 207,951 - ------------- ----------------- --------------- ---------------- PROPERTY, PLANT AND EQUIPMENT Real estate 822,382 - - - Other 249,591 - - - Accum. depr. and amortization (133,756) - - - Valuation allowances - - - - ------------- ----------------- --------------- ---------------- Property, Plant and Equipment-net 938,217 - - - ------------- ----------------- --------------- ---------------- INVESTMENTS Subsidiaries 18,102 (1,242,170) 1,242,170 - Capital lease agreements - . - - Partnership interests - - - - Corporate joint ventures 833,112 (209,921) 345,814 - Securities - - - - Valuation allowances - - - - ------------- ----------------- --------------- ---------------- Total Investments 851,214 (1,452,091) 1,587,984 - ------------- ----------------- --------------- ---------------- OTHER ASSETS Goodwill 569,294 63,179 Derivative Asset 38,659 Other 54,007 - 32 - ------------- ----------------- --------------- ---------------- Total Other Assets 661,960 63,179 32 - ------------- ----------------- --------------- ---------------- TOTAL ASSETS $ 3,311,107 $ (1,403,112) $ 1,795,967 $ - ============= ================= =============== ================ LIABILITIES AND STOCKHOLDER'S EQUITY CURRENT LIABILITIES Accounts payable: Trade $ 42,796 $ - $ - $ - Taxes 7,363 - 24 - Other 20,506 - - - Interest 8,714 - - - Associated companies 1,016,553 (14,200) 431,939 1 Notes payable: - PSEG Capital Corporation - - - - Enterprise Capital Funding Corp. - - - - Enterprise Group Development Corp. - - - - Enterprise Diversified Holdings Inc. 9,609 - - - Other 282,714 - 15,500 - Current portion of long-term debt 41,703 - - - ------------- ----------------- --------------- ---------------- Total Current Liabilities 1,429,958 (14,200) 447,463 1 ------------- ----------------- --------------- ---------------- TOTAL LONG-TERM DEBT 444,074 - - - ------------- ----------------- --------------- ---------------- DEFERRED CREDITS Deferred income taxes 19,623 - 17,382 - Deferred investment - and energy tax credits - - - - Derivative Liability 9,349 Deferred Revenues 8,510 - 126 - ------------- ----------------- --------------- ---------------- Total Deferred Credits 37,482 - 17,508 - ------------- ----------------- --------------- ---------------- MINORITY INTEREST 75,217 16,305 6,620 - ------------- ----------------- --------------- ---------------- STOCKHOLDER'S EQUITY Capital stock 12 (15) 12 - Stock Subs Payable - - - - Contributed capital 1,418,757 (1,594,848) 1,418,757 - Retained earnings 150,586 (57,842) 150,586 (1) Other Comprehensive Income 603 (603) 603 Cumulative Translation Adjustment (245,582) 248,091 (245,582) - ------------- ----------------- --------------- ---------------- Total Stockholder's Equity 1,324,376 (1,405,217) 1,324,376 (1) ------------- ----------------- --------------- ---------------- TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY $ 3,311,107 $ (1,403,112) $ 1,795,967 $ - ============= ================= =============== ================ PSEG Andina PSEG Americas Associacion Mendoza I Brazil Holdings Inc. en Participacion Company Operating Co (Cayman) (Peru) (Cayman) (Cayman) ---------------- ---------------- ---------------- ---------------- ASSETS CURRENT ASSETS Cash and temporary cash investments $ - $ - $ - $ - Accounts and Notes receivable: Trade - - - - Other - - - - PSE&G - - - - PSEG - - - - PSEG Energy Holdings Other associated companies - 14,347 - - Notes receivable: Associated companies - - - - Other - - - - Interest receivable - - - - Inventory Restricted Cash Assets held for sale Prepayments - - - - ---------------- ---------------- ---------------- ---------------- Total Current Assets - 14,347 - - ---------------- ---------------- ---------------- ---------------- PROPERTY, PLANT AND EQUIPMENT Real estate - - - - Other - - - - Accum. depr. and amortization - - - - Valuation allowances - - - - ---------------- ---------------- ---------------- ---------------- Property, Plant and Equipment-net - - - - ---------------- ---------------- ---------------- ---------------- INVESTMENTS Subsidiaries - - - - Capital lease agreements - - - - Partnership interests - - - - Corporate joint ventures - (14,179) - - Securities - - - - Valuation allowances - - - - ---------------- ---------------- ---------------- ---------------- Total Investments - (14,179) - - ---------------- ---------------- ---------------- ---------------- OTHER ASSETS Goodwill Derivative Asset Other - - - - ---------------- ---------------- ---------------- ---------------- Total Other Assets - - - - ---------------- ---------------- ---------------- ---------------- TOTAL ASSETS $ - $ 168 $ - $ - ================ ================ ================ ================ LIABILITIES AND STOCKHOLDER'S EQUITY CURRENT LIABILITIES Accounts payable: Trade $ - $ - $ - $ - Taxes - - - - Other - - - - Interest - - - - Associated companies - 266 - - Notes payable: PSEG Capital Corporation - - - - Enterprise Capital Funding Corp. - - - - Enterprise Group Development Corp. - - - - Enterprise Diversified Holdings Inc. - - - - Other - - - - Current portion of long-term debt - - - - ---------------- ---------------- ---------------- ---------------- Total Current Liabilities - 266 - - ---------------- ---------------- ---------------- ---------------- TOTAL LONG-TERM DEBT - - - - ---------------- ---------------- ---------------- ---------------- DEFERRED CREDITS Deferred income taxes - 25 - - Deferred investment and energy tax credits - - - - Derivative Liability Deferred Revenues - - - - ---------------- ---------------- ---------------- ---------------- Total Deferred Credits - 25 - - ---------------- ---------------- ---------------- ---------------- MINORITY INTEREST - - - - ---------------- ---------------- ---------------- ---------------- STOCKHOLDER'S EQUITY Capital stock - - - - Stock Subs Payable - - - - Contributed capital - - - - Retained earnings - (123) - - Other Comprehensive Income Cumulative Translation Adjustment - - - - ---------------- ---------------- ---------------- ---------------- Total Stockholder's Equity - (123) - - ---------------- ---------------- ---------------- ---------------- TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY $ - $ 168 $ - $ - ================ ================ ================ ================ Venergy Rayo-Andino Rayo-Andino Distribuidora Terra Roxa I Gestora Inversora Dos Ltda. Company Company (Cayman) (Cayman) (Cayman) (Cayman) ---------------- ---------------- ---------------- --------------- ASSETS CURRENT ASSETS Cash and temporary cash investments $ - $ - $ - $ - Accounts and Notes receivable: Trade - - - - Other - - - - PSE&G - - - - PSEG - - - - PSEG Energy Holdings Other associated companies - - - - Notes receivable: Associated companies - - - - Other - - - - Interest receivable - - - - Inventory Restricted Cash Assets held for sale Prepayments - - - - ---------------- ---------------- ---------------- --------------- Total Current Assets - - - - ---------------- ---------------- ---------------- --------------- PROPERTY, PLANT AND EQUIPMENT Real estate - - - - Other - - - - Accum. depr. and amortization - - - - Valuation allowances - - - - ---------------- ---------------- ---------------- --------------- Property, Plant and Equipment-net - - - - ---------------- ---------------- ---------------- --------------- INVESTMENTS Subsidiaries - - - - Capital lease agreements - - - - Partnership interests - - - - Corporate joint ventures - - - - Securities - - - - Valuation allowances - - - - ---------------- ---------------- ---------------- --------------- Total Investments - - - - ---------------- ---------------- ---------------- --------------- OTHER ASSETS Goodwill Derivative Asset Other - - - - ---------------- ---------------- ---------------- --------------- Total Other Assets - - - - ---------------- ---------------- ---------------- --------------- TOTAL ASSETS $ - $ - $ - $ - ================ ================ ================ =============== LIABILITIES AND STOCKHOLDER'S EQUITY CURRENT LIABILITIES Accounts payable: Trade $ - $ - $ - $ - Taxes - - - - Other - - - - Interest - - - - Associated companies - - - - Notes payable: PSEG Capital Corporation - - - - Enterprise Capital Funding Corp. - - - - Enterprise Group Development Corp. - - - - Enterprise Diversified Holdings Inc. - - - - Other - - - - Current portion of long-term debt - - - - ---------------- ---------------- ---------------- --------------- Total Current Liabilities - - - - ---------------- ---------------- ---------------- --------------- TOTAL LONG-TERM DEBT - - - - ---------------- ---------------- ---------------- --------------- DEFERRED CREDITS Deferred income taxes - - - - Deferred investment and energy tax credits - - - - Derivative Liability Deferred Revenues - - - - ---------------- ---------------- ---------------- --------------- Total Deferred Credits - - - - ---------------- ---------------- ---------------- --------------- MINORITY INTEREST - - - - ---------------- ---------------- ---------------- --------------- STOCKHOLDER'S EQUITY Capital stock - - - - Stock Subs Payable - - - - Contributed capital - - - - Retained earnings - - - - Other Comprehensive Income Cumulative Translation Adjustment - - - - ---------------- ---------------- ---------------- --------------- Total Stockholder's Equity - - - - ---------------- ---------------- ---------------- --------------- TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY $ - $ - $ - $ - ================ ================ ================ =============== PSEG Transamerica Cayman Energy PSEG Americas Company Brazil Company (Cayman) Ltda. Edeersa CONSOL. --------------- --------------- ---------------- ---------------- ASSETS CURRENT ASSETS Cash and temporary cash investments $ - $ 151 $ 1,125 $ - Accounts and Notes receivable: Trade - - 18,936 4,534 Other - 9 5,745 - PSE&G - - - - PSEG - - - - PSEG Energy Holdings - Other associated companies - 124 - 4,452 Notes receivable: - Associated companies - - - - Other - - - - Interest receivable - - - - Inventory 5,423 Restricted Cash Assets held for sale 43,862 Prepayments - - - - --------------- --------------- ---------------- ---------------- Total Current Assets - 284 31,229 52,848 --------------- --------------- ---------------- ---------------- PROPERTY, PLANT AND EQUIPMENT Real estate - - 244,057 - Other - 298 41,901 - Accum. depr. and amortization - (68) (54,070) - Valuation allowances - - - - --------------- --------------- ---------------- ---------------- Property, Plant and Equipment-net - 230 231,888 - --------------- --------------- ---------------- ---------------- INVESTMENTS Subsidiaries - - - - Capital lease agreements - - - - Partnership interests - - - - Corporate joint ventures - - - - Securities - - - - Valuation allowances - - - - --------------- --------------- ---------------- ---------------- Total Investments - - - - --------------- --------------- ---------------- ---------------- OTHER ASSETS Goodwill Derivative Asset Other - 21 8,787 - --------------- --------------- ---------------- ---------------- Total Other Assets - 21 8,787 - --------------- --------------- ---------------- ---------------- TOTAL ASSETS $ - $ 535 $ 271,904 $ 52,848 =============== =============== ================ ================ LIABILITIES AND STOCKHOLDER'S EQUITY CURRENT LIABILITIES Accounts payable: Trade $ - $ - $ 7,453 $ - Taxes - - 10,180 - Other - - 6,938 - Interest - - 287 - Associated companies - 6,902 - 8,059 Notes payable: - PSEG Capital Corporation - - - - Enterprise Capital Funding Corp. - - - - Enterprise Group Development Corp. - - - - Enterprise Diversified Holdings Inc. - - - - Other - - - - Current portion of long-term debt - - 2,000 - --------------- --------------- ---------------- ---------------- Total Current Liabilities - 6,902 26,858 8,059 --------------- --------------- ---------------- ---------------- TOTAL LONG-TERM DEBT - - 82,000 - --------------- --------------- ---------------- ---------------- DEFERRED CREDITS Deferred income taxes - (475) - 611 Deferred investment - and energy tax credits - - - - Derivative Liability Deferred Revenues - - - - --------------- --------------- ---------------- ---------------- Total Deferred Credits - (475) - 611 --------------- --------------- ---------------- ---------------- MINORITY INTEREST - - - - --------------- --------------- ---------------- ---------------- STOCKHOLDER'S EQUITY Capital stock - - - - Stock Subs Payable - - - - Contributed capital - 315 149,890 37,949 Retained earnings - (6,207) 13,156 6,229 Other Comprehensive Income Cumulative Translation Adjustment - - - - --------------- --------------- ---------------- ---------------- Total Stockholder's Equity - (5,892) 163,046 44,178 --------------- --------------- ---------------- ---------------- TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY $ - $ 535 $ 271,904 $ 52,848 =============== =============== ================ ================ ($ IN THOUSANDS) PSEG PSEG Venergy Americas Peru Power Holdings PSEG Operating Ltd. Company Electrica Company (Cayman) (Cayman) (Cayman) CONSOL. ------------------ ------------------ ------------------ ------------ ASSETS CURRENT ASSETS Cash and temporary cash investments $ - $ - $ - $ 1 Accounts and Notes receivable: Trade - 13 - (49) Other - - - - PSE&G - - - - PSEG - - - - PSEG Energy Holdings - Other associated companies - 773 - 11,127 Notes receivable: - Associated companies - - - - Other - - - - Interest receivable - - - 7 Inventory Restricted Cash - Assets held for sale 220,110 Prepayments - 78 - - -------------- ------------------ ------------------ -------------- Total Current Assets - 864 - 231,196 -------------- ------------------ ------------------ -------------- PROPERTY, PLANT AND EQUIPMENT Real estate - - - - Other - - - - Accum. depr. and amortization - - - - Valuation allowances - - - - -------------- ------------------ ------------------ -------------- Property, Plant and Equipment-net - - - - -------------- ------------------ ------------------ -------------- INVESTMENTS Subsidiaries - - - - Capital lease agreements - - - - Partnership interests - - - - Corporate joint ventures - 45,582 - - Securities - - - - Valuation allowances - - - - -------------- ------------------ ------------------ -------------- Total Investments - 45,582 - - -------------- ------------------ ------------------ -------------- OTHER ASSETS Goodwill Derivative Asset Other - - - - -------------- ------------------ ------------------ -------------- Total Other Assets - - - - -------------- ------------------ ------------------ -------------- TOTAL ASSETS $ - $ 46,446 $ - $ 231,196 ============== ================== ================== ============== LIABILITIES AND STOCKHOLDER'S EQUITY CURRENT LIABILITIES Accounts payable: Trade $ - $ - $ - $ - Taxes - - - - Other - - - - Interest - - - 4,901 Associated companies - 6,224 - 149,719 Notes payable: - PSEG Capital Corporation - - - - Enterprise Capital Funding Corp. - - - - Enterprise Group Development Corp. - - - - Enterprise Diversified Holdings Inc. - - - - Other - - - - Current portion of long-term debt - - - - -------------- ------------------ ------------------ -------------- Total Current Liabilities - 6,224 - 154,620 -------------- ------------------ ------------------ -------------- TOTAL LONG-TERM DEBT - - - 9,990 -------------- ------------------ ------------------ -------------- DEFERRED CREDITS Deferred income taxes - (28) - (364) Deferred investment - and energy tax credits - - - - Derivative Liability Deferred Revenues - - - 5,879 -------------- ------------------ ------------------ -------------- Total Deferred Credits - (28) - 5,515 -------------- ------------------ ------------------ -------------- MINORITY INTEREST - - - 20 -------------- ------------------ ------------------ -------------- STOCKHOLDER'S EQUITY Capital stock - - - - Stock Subs Payable - - - - Contributed capital - 38,810 - 110,302 Retained earnings - 1,440 - (49,251) Other Comprehensive Income Cumulative Translation Adjustment - - - - -------------- ------------------ ------------------ -------------- Total Stockholder's Equity - 40,250 - 61,051 -------------- ------------------ ------------------ -------------- TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY $ - $ 46,446 $ - $ 231,196 ============== ================== ================== ============== PSEG PSEG PSEG PSEG Global Brazil II Brazil III Wildwood I Funding II Company Company Ltd. Corp. ----------------- ------------------ ------------------- ---------------- ASSETS CURRENT ASSETS Cash and temporary cash investments $ - $ - $ - $ - Accounts and Notes receivable: Trade - - - 1 Other - - - - PSE&G - - - - PSEG - - - - PSEG Energy Holdings Other associated companies - - 1 - Notes receivable: Associated companies - - - - Other - - - - Interest receivable - - - - Inventory Restricted Cash Assets held for sale 61,828 Prepayments - - - - --------------- ------------------- ---------------- -------------- Total Current Assets - - 61,829 1 --------------- ------------------- ---------------- -------------- PROPERTY, PLANT AND EQUIPMENT Real estate - - - - Other - - - - Accum. depr. and amortization - - - - Valuation allowances - - - - --------------- ------------------- ---------------- -------------- Property, Plant and Equipment-net - - - - --------------- ------------------- ---------------- -------------- INVESTMENTS Subsidiaries - - - - Capital lease agreements - - - - Partnership interests - - - - Corporate joint ventures - - - - Securities - - - - Valuation allowances - - - - --------------- ------------------- ---------------- -------------- Total Investments - - - - --------------- ------------------- ---------------- -------------- OTHER ASSETS Goodwill Derivative Asset Other - - - - --------------- ------------------- ---------------- -------------- Total Other Assets - - - - --------------- ------------------- ---------------- -------------- TOTAL ASSETS $ - $ - $ 61,829 $ 1 =============== =================== ================ ============== LIABILITIES AND STOCKHOLDER'S EQUITY CURRENT LIABILITIES Accounts payable: Trade $ - $ - $ - $ - Taxes - - - - Other - - - - Interest - - - - Associated companies - - 934 - Notes payable: PSEG Capital Corporation - - - - Enterprise Capital Funding Corp. - - - - Enterprise Group Development Corp. - - - - Enterprise Diversified Holdings Inc. - - - - Other - - - - Current portion of long-term debt - - - - --------------- ------------------- ---------------- -------------- Total Current Liabilities - - 934 - --------------- ------------------- ---------------- -------------- TOTAL LONG-TERM DEBT - - - - --------------- ------------------- ---------------- -------------- DEFERRED CREDITS Deferred income taxes - - (106) - Deferred investment and energy tax credits - - - - Derivative Liability Deferred Revenues - - - - --------------- ------------------- ---------------- -------------- Total Deferred Credits - - (106) - --------------- ------------------- ---------------- -------------- MINORITY INTEREST - - - - --------------- ------------------- ---------------- -------------- STOCKHOLDER'S EQUITY Capital stock - - - 1 Stock Subs Payable - - - - Contributed capital - - 62,355 - Retained earnings - - (1,354) - Other Comprehensive Income Cumulative Translation Adjustment - - - - --------------- ------------------- ---------------- -------------- Total Stockholder's Equity - - 61,001 1 --------------- ------------------- ---------------- -------------- TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY $ - $ - $ 61,829 $ 1 =============== =================== ================ ============== PSEG PSEG Chile Inversiones PSEG Chilean Holding Elegia Brazil Equity II Ltd. Company Srl Investment CONSOL. CONSOL. CONSOL CONSOL. ------------------- ----------------- ------------------- ---------------- ASSETS CURRENT ASSETS Cash and temporary cash investments $ 25 $ 9,230 $ 1,692 $ 4 Accounts and Notes receivable: Trade 2,889 34,589 9,413 - Other - 2,553 1,194 - PSE&G - - - 381 PSEG - - - - PSEG Energy Holdings - - - 466 Other associated companies 1,248 146,075 - 1,480 Notes receivable: Associated companies - - - - Other - - - - Interest receivable - - - - Inventory 4,680 1,846 Restricted Cash Assets held for sale Prepayments - 375 688 - ------------- -------------- ------------------- ----------------- Total Current Assets 4,162 197,502 14,833 2,331 ------------- -------------- ------------------- ----------------- PROPERTY, PLANT AND EQUIPMENT Real estate - 304,301 80,079 - Other - 18,828 - - Accum. depr. and amortization - (73,270) (1,997) - Valuation allowances - - - - ------------- -------------- ----------------- Property, Plant and Equipment-net - 249,859 78,082 - ------------- -------------- ------------------- ----------------- INVESTMENTS Subsidiaries - - - - Capital lease agreements - - - - Partnership interests - - - - Corporate joint ventures 221,867 723 (206) 277,383 Securities - - - - Valuation allowances - - - - ------------- -------------- ------------------- ----------------- Total Investments 221,867 723 (206) 277,383 ------------- -------------- ------------------- ----------------- OTHER ASSETS Goodwill 314,709 164,118 Derivative Asset 4,009 Other - 6,873 481 13 ------------- -------------- ------------------- ----------------- Total Other Assets - 325,591 164,599 13 ------------- -------------- ------------------- ----------------- TOTAL ASSETS $ 226,029 $ 773,675 $ 257,308 $ 279,727 ============= ============== =================== ================= LIABILITIES AND STOCKHOLDER'S EQUITY CURRENT LIABILITIES Accounts payable: Trade $ - $ 9,228 $ 3,828 $ - Taxes - - 972 410 Other - 10,207 3,593 65 Interest 1,778 895 178 - Associated companies 15,101 300,039 - 49,049 Notes payable: - PSEG Capital Corporation - - - - Enterprise Capital Funding Corp. - - - - Enterprise Group Development Corp. - - - - Enterprise Diversified Holdings Inc. - - - 9,609 Other - 165,140 102,073 - Current portion of long-term debt - 11,930 - - ------------- -------------- ------------------- ----------------- Total Current Liabilities 16,879 497,439 110,644 59,133 ------------- -------------- ------------------- ----------------- TOTAL LONG-TERM DEBT - 65,779 - - ------------- -------------- ------------------- ----------------- DEFERRED CREDITS Deferred income taxes (6,484) 11,435 122 (16,475) Deferred investment and energy tax credits - - - - Derivative Liability 121 - Deferred Revenues - 2,045 - 215 ------------- -------------- ------------------- ----------------- Total Deferred Credits (6,484) 13,601 122 (16,260) ------------- -------------- ------------------- ----------------- MINORITY INTEREST - 4,597 - - ------------- -------------- ------------------- ----------------- STOCKHOLDER'S EQUITY Capital stock 1 - - - Stock Subs Payable - - - - Contributed capital 255,549 188,910 145,862 376,198 Retained earnings 34,472 5,274 680 31,058 Other Comprehensive Income 2,606 (1,220) Cumulative Translation Adjustment (74,388) (4,531) - (169,182) ------------- -------------- ------------------- ----------------- Total Stockholder's Equity 215,634 192,259 146,542 236,854 ------------- -------------- ------------------- ----------------- TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY $ 226,029 $ 773,675 $ 257,308 $ 279,727 ============= ============== =================== ================= PSEG PSEG PSEG Salalah India Co. Bermuda Holdings III Investment Investment Investment CONSOL. CONSOL. CONSOL. -------------------- ------------------- -------------------- ASSETS CURRENT ASSETS Cash and temporary cash investments $ 5,348 $ 403 $ 1,853 Accounts and Notes receivable: Trade 807 - 27,464 Other - 348 - PSE&G - - - PSEG - - - PSEG Energy Holdings - - - Other associated companies 293 2,254 1,151 Notes receivable: - - Associated companies - - - Other - - 4,673 Interest receivable - - - Inventory 2,880 Restricted Cash Assets held for sale Prepayments 21 - - ------------------- ------------------- -------------------- Total Current Assets 6,469 3,005 38,021 ------------------- ------------------- -------------------- PROPERTY, PLANT AND EQUIPMENT Real estate - - 193,945 Other 21,373 1 - Accum. depr. and amortization - - (4,260) Valuation allowances - - - ------------------- ------------------- -------------------- Property, Plant and Equipment-net 21,373 1 189,685 ------------------- ------------------- -------------------- INVESTMENTS Subsidiaries - - - Capital lease agreements - - - Partnership interests - - - Corporate joint ventures 3,378 28,832 1,348 Securities - - - Valuation allowances - - - ------------------- ------------------- -------------------- Total Investments 3,378 28,832 1,348 ------------------- ------------------- -------------------- OTHER ASSETS Goodwill 27,288 Derivative Asset Other 12,600 - 345 ------------------- ------------------- -------------------- Total Other Assets 12,600 - 27,633 ------------------- ------------------- -------------------- TOTAL ASSETS $ 43,820 $ 31,838 $ 256,687 =================== =================== ==================== LIABILITIES AND STOCKHOLDER'S EQUITY CURRENT LIABILITIES Accounts payable: Trade $ 1,573 $ - $ 18,112 Taxes - - - Other 1,540 221 (2,058) Interest - - 675 Associated companies 1,921 6,242 4,328 Notes payable: - - - PSEG Capital Corporation - - - Enterprise Capital Funding Corp. - - - Enterprise Group Development Corp. - - - Enterprise Diversified Holdings Inc. - - - Other 1 - - Current portion of long-term debt - - 27,773 ------------------- ------------------- -------------------- Total Current Liabilities 5,035 6,463 48,830 ------------------- ------------------- -------------------- TOTAL LONG-TERM DEBT 27,993 - 108,536 ------------------- ------------------- -------------------- DEFERRED CREDITS Deferred income taxes (826) (256) (103) Deferred investment and energy tax credits - - - Derivative Liability 3,283 Deferred Revenues - - - ------------------- ------------------- -------------------- Total Deferred Credits 2,457 (256) (103) ------------------- ------------------- -------------------- MINORITY INTEREST 4,309 - 18,838 ------------------- ------------------- -------------------- STOCKHOLDER'S EQUITY Capital stock - - - Stock Subs Payable - - - Contributed capital 6,786 22,784 78,845 Retained earnings (1,032) 2,847 1,741 Other Comprehensive Income (1,728) Cumulative Translation Adjustment ------------------- ------------------- -------------------- Total Stockholder's Equity 4,026 25,631 80,586 ------------------- ------------------- -------------------- TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY $ 43,820 $ 31,838 $ 256,687 =================== =================== ==================== PSEG PSEG International Holding Co. China Investment Inc. CONSOL. Consol. ------------------- -------------- ASSETS CURRENT ASSETS Cash and temporary cash investments $ 1,077 $ - Accounts and Notes receivable: Trade (266) Other 3,059 (35) PSE&G - - PSEG - - PSEG Energy Holdings Other associated companies 87 1,727 Notes receivable: - Associated companies - - Other - - Interest receivable - - Inventory 1,313 Restricted Cash Assets held for sale Prepayments 15 - ----------------- ------------------ Total Current Assets 5,285 1,692 ----------------- ------------------ PROPERTY, PLANT AND EQUIPMENT Real estate - - Other 167,155 - Accum. depr. and amortization (90) - Valuation allowances - - ----------------- ------------------ Property, Plant and Equipment-net 167,065 - ----------------- ------------------ INVESTMENTS Subsidiaries 18,061 36 Capital lease agreements - - Partnership interests - - Corporate joint ventures 12,306 120,185 Securities - - Valuation allowances - - ----------------- ------------------ Total Investments 30,367 120,221 ----------------- ------------------ OTHER ASSETS Goodwill Derivative Asset 34,650 Other 22,784 2,071 ----------------- ------------------ Total Other Assets 57,434 2,071 ----------------- ------------------ TOTAL ASSETS $ 260,151 $ 123,984 ================= ================== LIABILITIES AND STOCKHOLDER'S EQUITY CURRENT LIABILITIES Accounts payable: Trade $ 2,602 $ - Taxes - (4,223) Other - - Interest - - Associated companies 8,456 41,468 Notes payable: - PSEG Capital Corporation - - Enterprise Capital Funding Corp. - - Enterprise Group Development Corp. - - Enterprise Diversified Holdings Inc. - - Other - - Current portion of long-term debt - - ----------------- ------------------ Total Current Liabilities 11,058 37,245 ----------------- ------------------ TOTAL LONG-TERM DEBT 149,776 - ----------------- ------------------ DEFERRED CREDITS Deferred income taxes 10,038 5,127 Deferred investment and energy tax credits - - Derivative Liability 5,945 Deferred Revenues 245 - ----------------- ------------------ Total Deferred Credits 16,228 5,127 ----------------- ------------------ MINORITY INTEREST 24,528 - ----------------- ------------------ STOCKHOLDER'S EQUITY Capital stock 12 1 Stock Subs Payable - - Contributed capital 48,009 72,184 Retained earnings 9,585 9,427 Other Comprehensive Income 945 Cumulative Translation Adjustment 10 - ----------------- ------------------ Total Stockholder's Equity 58,561 81,612 ----------------- ------------------ TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY $ 260,151 $ 123,984 ================= ================== Servicios PSEG PSEG Technicos Americas Luxembourg PSEG Chile II S.a.r.l. Ltda Ltd ----------------- ---------------- ---------------- ASSETS CURRENT ASSETS Cash and temporary cash investments $ 35 $ - $ 25 Accounts and Notes receivable: Trade - - - Other - (4) - PSE&G - - - PSEG - - - PSEG Energy Holdings Other associated companies - 11 - Notes receivable: Associated companies - - - Other - - - Interest receivable - - - Inventory Restricted Cash Assets held for sale Prepayments - - - ----------------- ---------------- ---------------- Total Current Assets 35 7 25 ----------------- ---------------- ---------------- PROPERTY, PLANT AND EQUIPMENT Real estate - - - Other 35 - - Accum. depr. and amortization (1) - - Valuation allowances - - - ----------------- ---------------- ---------------- Property, Plant and Equipment-net 34 - - ----------------- ---------------- ---------------- INVESTMENTS Subsidiaries - 5 - Capital lease agreements - - - Partnership interests - - - Corporate joint ventures - - - Securities - - - Valuation allowances - - - ----------------- ---------------- ---------------- Total Investments - 5 - ----------------- ---------------- ---------------- OTHER ASSETS Goodwill Derivative Asset Other - - - ----------------- ---------------- ---------------- Total Other Assets - - - ----------------- ---------------- ---------------- TOTAL ASSETS $ 69 $ 12 $ 25 ================= ================ ================ LIABILITIES AND STOCKHOLDER'S EQUITY CURRENT LIABILITIES Accounts payable: Trade $ - $ - $ - Taxes - - - Other - - - Interest - - - Associated companies 93 12 - Notes payable: PSEG Capital Corporation - - - Enterprise Capital Funding Corp. - - - Enterprise Group Development Corp. - - - Enterprise Diversified Holdings Inc. - - - Other - - - Current portion of long-term debt - - - ----------------- ---------------- ---------------- Total Current Liabilities 93 12 - ----------------- ---------------- ---------------- TOTAL LONG-TERM DEBT - - - ----------------- ---------------- ---------------- DEFERRED CREDITS Deferred income taxes - - - Deferred investment and energy tax credits - - - Derivative Liability Deferred Revenues - - - ----------------- ---------------- ---------------- Total Deferred Credits - - - ----------------- ---------------- ---------------- MINORITY INTEREST - - - ----------------- ---------------- ---------------- STOCKHOLDER'S EQUITY Capital stock - - - Stock Subs Payable - - - Contributed capital 75 - 25 Retained earnings (99) - - Other Comprehensive Income Cumulative Translation Adjustment - - - ----------------- ---------------- ---------------- Total Stockholder's Equity (24) - 25 ----------------- ---------------- ---------------- TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY $ 69 $ 12 $ 25 ================= ================ ================
PSEG CHILE HOLDING COMPANY CONSOLIDATING STATEMENT OF INCOME FOR THE YEAR ENDING DECEMBER 31, 2001 ($ IN THOUSANDS)
PSEG Chile PSEG PSEG Holding INTERCOMPANY Chile Inversiones Company ELIMINATIONS Holding Chile I CONSOL. & RECLASS. Company LTD Saesa ----------- -------------- ---------- ------------- ----------- REVENUES: Income from partnerships $ 673 $ (6,253) $ - $ 6,254 $ 672 Income from capital lease agreements - - - - - Unrealized gains (losses) on investments - - - - - Realized gains (losses) on investments - - - - - Interest and dividend income - - - - - Other 7,999 - - - 7,999 Electric Revenues Generation - Distribution 41,015 41,015 Equity in subsidiary earnings - (6,169) 6,169 - - ----------- -------------- ---------- ------------- ----------- Total Revenues 49,687 (12,422) 6,169 6,254 49,686 ----------- -------------- ---------- ------------- ----------- OPERATING EXPENSES: Operation and maintenance 3,272 - - - 3,272 Electric and Energy Costs Depreciation and amortization 2,470 - - - 2,470 Electric and Energy Costs 25,500 25,500 Administrative and general 1,796 - - 71 1,725 ----------- -------------- ---------- ------------- ----------- Total Operating Expenses 33,038 - - 71 32,967 ----------- -------------- ---------- ------------- ----------- OPERATING INCOME 16,649 (12,422) 6,169 6,183 16,719 ----------- -------------- ---------- ------------- ----------- OTHER INCOME: Write off of investments - Change in Derivative Fair Value - FAS 133 (121) (121) Foreign currency translation Gain/Loss (1,796) - - - (1,796) ----------- -------------- ---------- ------------- ----------- Total Other Income (1,917) - - (121) (1,796) ----------- -------------- ---------- ------------- ----------- INTEREST EXPENSE: PSEG Capital Corporation - - - - - Enterprise Capital Funding Corp. - - - - - Other Associated Companies - - - - - Other 8,956 - 895 (65) 8,126 Capitalized interest (427) - - - (427) ----------- -------------- ---------- ------------- ----------- Net Interest Expense 8,529 - 895 (65) 7,699 ----------- -------------- ---------- ------------- ----------- INCOME BEFORE INCOME TAXES 6,203 (12,422) 5,274 6,127 7,224 ----------- -------------- ---------- ------------- ----------- INCOME TAXES: Current - - - - - Deferred (42) - - (42) - Foreign Taxes 385 385 Investment and energy tax credits - net - - - - - ----------- -------------- ---------- ------------- ----------- Total Income Taxes 343 - - (42) 385 ----------- -------------- ---------- ------------- ----------- MINORITY INTERESTS 586 - - - 586 ----------- -------------- ---------- ------------- ----------- INCOME BEFORE EXTRAORDINARY ITEM AND CUMULATIVE EFFECT OF A CHANGE IN ACCOUNTING PRINCIPLE 5,274 (12,422) 5,274 6,169 6,253 ----------- -------------- ---------- ------------- ----------- Extraordinary Loss on Early Retirement of Debt (net of tax) - - - - - Cumulative Effect of a Change in Accounting Principle - - - - - ----------- -------------- ---------- ------------- ----------- NET INCOME $ 5,274 $ (12,422) $ 5,274 $ 6,169 $ 6,253 =========== ============== ========== ============= ===========
PSEG CHILE HOLDING COMPANY CONSOLIDATING STATEMENT OF RETAINED EARNINGS FOR THE YEAR ENDING DECEMBER 31, 2001 ($ IN THOUSANDS)
PSEG Chile PSEG PSEG Holding INTERCOMPANY Chile Inversiones Company ELIMINATIONS Holding Chile I CONSOL. & RECLASS. Company LTD Saesa ----------- -------------- ------------- -------------- ------------- BALANCE JANUARY 1, 2001 $ - $ (26,125) $ - $ - $ - NET INCOME 5,274 (12,422) 5,274 6,169 6,253 ----------- -------------- ------------- -------------- ------------- TOTAL 5,274 (38,547) 5,274 6,169 6,253 ----------- -------------- ------------- -------------- ------------- DIVIDENDS DECLARED - - - - - ----------- -------------- ------------- -------------- ------------- ----------- -------------- ------------- -------------- ------------- BALANCE DECEMBER 31, 2001 $ 5,274 $ (38,547) $ 5,274 $ 6,169 $ 6,253 =========== ============== ============= ============== =============
PSEG CHILE HOLDING COMPANY CONSOLIDATING BALANCE SHEET DECEMBER 31, 2001 ($ IN THOUSANDS)
PSEG Chile PSEG PSEG Holding INTERCOMPANY Chile Inversiones Company ELIMINATIONS Holding Chile I CONSOL. & RECLASS. Company LTD Saesa ------------ ----------------- ------------ --------------- ------------ ASSETS CURRENT ASSETS Cash and temporary cash investments $ 9,230 $ - $ - $ - $ 9,230 Accounts and Notes receivable: Trade 34,589 - - - 34,589 Other 2,553 - - - 2,553 PSE&G - - - - - PSEG - - - - - PSEG Energy Holdings - - Other associated companies 146,075 - 146,074 1 - Notes receivable: Associated companies - - - - - Other - - - - - Interest receivable - - - - - Inventory 4,680 4,680 Prepayments 375 - - - 375 ------------ ----------------- ------------ --------------- ------------ Total Current Assets 197,502 - 146,074 1 51,427 ------------ ----------------- ------------ --------------- ------------ PROPERTY, PLANT AND EQUIPMENT Real estate 304,301 - - 44,000 260,301 Other 18,828 - - - 18,828 Accum. depr. and amortization (73,270) - - - (73,270) Valuation allowances - - - - - ------------ ----------------- ------------ --------------- ------------ Property, Plant and Equipment-net 249,859 - - 44,000 205,859 ------------ ----------------- ------------ --------------- ------------ INVESTMENTS Subsidiaries - (490,515) 490,515 - - Capital lease agreements - - - - - Partnership interests - - - - - Corporate joint ventures 723 (449,956) 3,926 446,161 592 Securities - - - - - Valuation allowances - - - - - ------------ ----------------- ------------ --------------- ------------ Total Investments 723 (940,471) 494,441 446,161 592 ------------ ----------------- ------------ --------------- ------------ OTHER ASSETS Goodwill 314,709 314,709 Derivative Asset 4,009 4,009 Other 6,873 4,611 - - 2,262 ------------ ----------------- ------------ --------------- ------------ Total Other Assets 325,591 319,320 4,009 - 2,262 ------------ ----------------- ------------ --------------- ------------ TOTAL ASSETS $ 773,675 $ (621,151) $ 644,524 $ 490,162 $ 260,140 ============ ================= ============ =============== ============ LIABILITIES AND STOCKHOLDER'S EQUITY CURRENT LIABILITIES Accounts payable: Trade $ 9,228 - $ - $ - $ 9,228 Taxes - - - - - Other 10,207 - - - 10,207 Interest 895 - 895 - - Associated companies 300,039 - 299,967 72 - Notes payable: PSEG Capital Corporation - - - - - Enterprise Capital Funding Corp. - - - - - Enterprise Group Development Corp. - - - - - Enterprise Diversified Holdings Inc. - - - - - U.S.Energy Incorporated - - - - - Other 165,140 150,000 15,140 Current portion of long-term debt 11,930 - - - 11,930 ------------ ----------------- ------------ --------------- ------------ Total Current Liabilities 497,439 - 450,862 72 46,505 ------------ ----------------- ------------ --------------- ------------ TOTAL LONG-TERM DEBT 65,779 - - - 65,779 ------------ ----------------- ------------ --------------- ------------ DEFERRED CREDITS Deferred income taxes 11,435 - 1,403 (546) 10,578 Deferred investment - - - - - and energy tax credits - - - - - Derivative Liability 121 121 Other 2,045 - - - 2,045 ------------ ----------------- ------------ --------------- ------------ Total Deferred Credits 13,601 - 1,403 (425) 12,623 ---------------------------------- ------------ --------------- ------------ MINORITY INTEREST 4,597 (7,590) 12,187 ------------ ----------------- ------------ --------------- ------------ STOCKHOLDER'S EQUITY Capital stock - - - - - Stock Subs Payable - - - - - Contributed capital 188,910 (608,918) 188,910 488,877 120,041 Retained earnings 5,274 (15,432) 5,274 6,169 9,263 Other Comprehensive income 2,606 - 2,606 - Cumulative Translation Adjustment (4,531) 10,789 (4,531) (4,531) (6,258) ------------ ----------------- ------------ --------------- ------------ Total Stockholder's Equity 192,259 (613,561) 192,259 490,515 123,046 ------------ ----------------- ------------ --------------- ------------ TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY $ 773,675 $ (621,151) $ 644,524 $ 490,162 $ 260,140 ============ ================= ============ =============== ============
PSEG RESOURCES INC. CONSOLIDATING STATEMENT OF INCOME FOR THE YEAR ENDING DECEMBER 31, 2001 ($ IN THOUSANDS)
PSEG INTERCOMPANY RESOURCES ELIMINATIONS PSEG RCMC CONSOL. & RECLASS. RESOURCES CONSOL. (A) ---------------- ---------------- ---------------- ---------------- REVENUES: Income (loss) from partnerships $ 727 $ -- $ (120) $ 469 Income from capital lease agreements 206,402 -- 85,376 58,472 Investment gains (losses) (1,988) -- 9,073 6,045 Interest and dividend income 1,462 (10,551) 11,639 -- Operating Lease Income 8,255 -- 8,255 -- Other 7 -- (25) 5 Equity in subsidiary earnings -- (79,399) 79,399 -- ---------------- ---------------- ---------------- ---------------- Total revenues 214,865 (89,950) 193,597 64,991 ---------------- ---------------- ---------------- ---------------- OPERATING EXPENSES: Operation and maintenance 4,160 -- 4,160 -- Depreciation and amortization 3,996 -- 2,967 -- Administrative and general 6,573 (5,563) 11,131 40 ---------------- ---------------- ---------------- ---------------- Total operating expenses 14,729 (5,563) 18,258 40 ---------------- ---------------- ---------------- ---------------- OPERATING INCOME 200,136 (84,387) 175,339 64,951 ---------------- ---------------- ---------------- ---------------- INTEREST EXPENSE: PSEG Capital Corporation 25,908 -- 23,664 2,038 Enterprise Capital Funding Corp. -- -- -- -- Energy Holdings Inc. 71,526 -- 65,935 5,079 Other 2,652 (5,832) 2,652 5,832 Capitalized interest -- -- -- -- ---------------- ---------------- ---------------- ---------------- Net interest expense 100,086 (5,832) 92,251 12,949 ---------------- ---------------- ---------------- ---------------- INCOME BEFORE INCOME TAXES 100,050 (78,555) 83,088 52,002 ---------------- ---------------- ---------------- ---------------- INCOME TAXES: Current (110,603) 844 (108,228) (8,203) Deferred 141,336 -- 121,457 27,342 Investment and energy tax credits - net (828) -- (286) (377) ---------------- ---------------- ---------------- ---------------- Total income taxes 29,905 844 12,943 18,762 ---------------- ---------------- ---------------- ---------------- MINORITY INTERESTS -- -- -- -- ---------------- ---------------- ---------------- ---------------- NET INCOME 70,145 (79,399) 70,145 33,240 ---------------- ---------------- ---------------- ---------------- PREFERRED STOCK DIVIDEND REQUIREMENT 5,999 -- 5,999 -- ---------------- ---------------- ---------------- ---------------- EARNINGS AVAILABLE TO COMMON STOCK $ 64,146 $ (79,399) $ 64,146 $ 33,240 ================ ================ ================ ================ RCIC RCSC RCFC --------------- --------------- --------------- REVENUES: Income (loss) from partnerships $ -- $ -- $ -- Income from capital lease agreements 11,070 -- -- Investment gains (losses) -- -- -- Interest and dividend income -- -- -- Operating Lease Income -- -- -- Other -- 9 -- Equity in subsidiary earnings -- -- -- --------------- --------------- --------------- Total revenues 11,070 9 -- --------------- --------------- --------------- OPERATING EXPENSES: Operation and maintenance -- -- -- Depreciation and amortization -- -- -- Administrative and general 12 9 2 --------------- --------------- --------------- Total operating expenses 12 9 2 --------------- --------------- --------------- OPERATING INCOME 11,058 -- (2) --------------- --------------- --------------- INTEREST EXPENSE: PSEG Capital Corporation 132 -- 74 Enterprise Capital Funding Corp. -- -- -- Energy Holdings Inc. 329 -- 183 Other -- -- -- Capitalized interest -- -- -- --------------- --------------- --------------- Net interest expense 461 -- 257 --------------- --------------- --------------- INCOME BEFORE INCOME TAXES 10,597 -- (259) --------------- --------------- --------------- INCOME TAXES: Current (11,202) -- (91) Deferred 14,427 -- (166) Investment and energy tax credits - net (165) -- -- --------------- --------------- --------------- Total income taxes 3,060 -- (257) --------------- --------------- --------------- MINORITY INTERESTS -- -- -- --------------- --------------- --------------- NET INCOME 7,537 -- (2) --------------- --------------- --------------- 0 PREFERRED STOCK DIVIDEND REQUIREMENT -- -- -- --------------- --------------- --------------- EARNINGS AVAILABLE TO COMMON STOCK $ 7,537 $ -- $ (2) =============== =============== ===============
(A) Exceeds 2% of Enterprise's consolidated assets. For additional information, see Item I. PSEG RESOURCES INC. CONSOLIDATING STATEMENT OF INCOME FOR THE YEAR ENDING DECEMBER 31, 2001 ($ IN THOUSANDS)
PSRC SC PSRC SC PSRC SC PSRC SC ONE TWO THREE FOUR ---------------- ---------------- ---------------- ---------------- REVENUES: Income (loss) from partnerships $ -- $ -- $ -- $ -- Income from capital lease agreements -- -- -- -- Investment gains (losses) -- -- -- -- Interest and dividend income -- -- -- -- Operating Lease Income -- -- -- -- Other 6 4 4 4 Equity in subsidiary earnings -- -- -- -- ---------------- ---------------- ---------------- ---------------- Total revenues 6 4 4 4 ---------------- ---------------- ---------------- ---------------- OPERATING EXPENSES: Operation and maintenance -- -- -- -- Depreciation and amortization -- -- -- -- Administrative and general 6 4 4 4 ---------------- ---------------- ---------------- ---------------- Total operating expenses 6 4 4 4 ---------------- ---------------- ---------------- ---------------- OPERATING INCOME -- -- -- -- ---------------- ---------------- ---------------- ---------------- INTEREST EXPENSE: PSEG Capital Corporation -- -- -- -- Enterprise Capital Funding Corp. -- -- -- -- Energy Holdings Inc. -- -- -- -- Other -- -- -- -- Capitalized interest -- -- -- -- ---------------- ---------------- ---------------- ---------------- Net interest expense -- -- -- -- ---------------- ---------------- ---------------- ---------------- INCOME BEFORE INCOME TAXES -- -- -- -- ---------------- ---------------- ---------------- ---------------- INCOME TAXES: Current -- -- -- -- Deferred -- -- -- -- Investment and energy tax credits - net -- -- -- -- ---------------- ---------------- ---------------- ---------------- Total income taxes -- -- -- -- ---------------- ---------------- ---------------- ---------------- MINORITY INTERESTS -- -- -- -- ---------------- ---------------- ---------------- ---------------- NET INCOME -- -- -- -- ---------------- ---------------- ---------------- ---------------- PREFERRED STOCK DIVIDEND REQUIREMENT -- -- -- -- ---------------- ---------------- ---------------- ---------------- EARNINGS AVAILABLE TO COMMON STOCK $ -- $ -- $ -- $ -- ================ ================ ================ ================ THE PSGMC WATER SOURCE CONSOL. PSRC, INC. --------------------- --------------------- --------------------- REVENUES: Income (loss) from partnerships $ -- $ -- $ -- Income from capital lease agreements -- -- 2,256 Investment gains (losses) -- -- -- Interest and dividend income -- -- -- Operating Lease Income -- -- -- Other -- -- -- Equity in subsidiary earnings -- -- -- --------------------- --------------------- --------------------- Total revenues -- -- 2,256 --------------------- --------------------- --------------------- OPERATING EXPENSES: Operation and maintenance -- -- -- Depreciation and amortization -- -- 1,029 Administrative and general -- -- 73 --------------------- --------------------- --------------------- Total operating expenses -- -- 1,102 --------------------- --------------------- --------------------- OPERATING INCOME -- -- 1,154 --------------------- --------------------- --------------------- INTEREST EXPENSE: PSEG Capital Corporation -- -- -- Enterprise Capital Funding Corp. -- -- -- Energy Holdings Inc. -- -- -- Other -- -- -- Capitalized interest -- -- -- --------------------- --------------------- --------------------- Net interest expense -- -- -- --------------------- --------------------- --------------------- INCOME BEFORE INCOME TAXES -- -- 1,154 --------------------- --------------------- --------------------- INCOME TAXES: Current -- -- (2,711) Deferred (58) -- 3,170 Investment and energy tax credits - net -- -- -- --------------------- --------------------- --------------------- Total income taxes (58) -- 459 --------------------- --------------------- --------------------- MINORITY INTERESTS -- -- -- --------------------- --------------------- --------------------- NET INCOME 58 -- 695 --------------------- --------------------- --------------------- PREFERRED STOCK DIVIDEND REQUIREMENT -- -- -- --------------------- --------------------- --------------------- EARNINGS AVAILABLE TO COMMON STOCK $ 58 $ -- $ 695 ===================== ===================== =====================
(A) Exceeds 2% of Enterprise's consolidated assets. For additional information, see Item I. PSEG RESOURCES INC. CONSOLIDATING STATEMENT OF INCOME FOR THE YEAR ENDING DECEMBER 31, 2001 ($ IN THOUSANDS)
PSEGR Midwest PSEGR PJM PSEG COLLINS EME 2 (LLC) RELIANT (LLC) ENTECH PSRC I, INC. PSRC II, INC. CONSOL. CONSOL CONSOL ---------- ----------- ------------ ------------ ------------ ------------ REVENUES: Income (loss) from partnerships $ -- $ -- $ 378 $ -- $ -- $ -- Income from capital lease agreements -- -- -- 14,230 14,097 20,901 Investment gains (losses) -- -- (17,106) -- -- -- Interest and dividend income -- -- 374 -- -- -- Operating Lease Income -- -- -- -- -- -- Other -- -- -- -- -- -- Equity in subsidiary earnings -- -- -- -- -- -- ---------- ----------- ------------ ------------ ------------ ------------ Total revenues -- -- (16,354) 14,230 14,097 20,901 ---------- ----------- ------------ ------------ ------------ ------------ OPERATING EXPENSES: Operation and maintenance -- -- -- -- -- -- Depreciation and amortization -- -- -- -- -- -- Administrative and general -- -- 7 1 0 842 ---------- ----------- ------------ ------------ ------------ ------------ Total operating expenses -- -- 7 1 0 842 ---------- ----------- ------------ ------------ ------------ ------------ OPERATING INCOME -- -- (16,361) 14,229 14,097 20,059 ---------- ----------- ------------ ------------ ------------ ------------ INTEREST EXPENSE: PSEG Capital Corporation -- -- -- -- -- -- Enterprise Capital Funding Corp. -- -- -- -- -- -- Energy Holdings Inc. -- -- -- -- -- -- Other -- -- -- -- -- -- Capitalized interest -- -- -- -- -- -- ---------- ----------- ------------ ------------ ------------ ------------ Net interest expense -- -- -- -- -- -- ---------- ----------- ------------ ------------ ------------ ------------ INCOME BEFORE INCOME TAXES -- -- (16,361) 14,229 14,097 20,059 ---------- ----------- ------------ ------------ ------------ ------------ INCOME TAXES: Current 0 -- 18,989 -- -- -- Deferred (2) -- (24,834) -- -- -- Investment and energy tax credits - net -- -- -- -- -- -- ---------- ----------- ------------ ------------ ------------ ------------ Total income taxes (2) -- (5,845) -- -- -- ---------- ----------- ------------ ------------ ------------ ------------ MINORITY INTERESTS -- -- -- -- -- -- ---------- ----------- ------------ ------------ ------------ ------------ NET INCOME 2 -- (10,516) 14,229 14,097 20,059 ---------- ----------- ------------ ------------ ------------ ------------ PREFERRED STOCK DIVIDEND REQUIREMENT -- -- -- -- -- -- ---------- ----------- ------------ ------------ ------------ ------------ EARNINGS AVAILABLE TO COMMON STOCK $ 2 $ -- $ (10,516) $ 14,229 $ 14,097 $ 20,059 ========== =========== ============ ============ ============ ============
(A) Exceeds 2% of Enterprise's consolidated assets. For additional information, see Item I. PSEG RESOURCES INC. CONSOLIDATING STATEMENT OF RETAINED EARNINGS FOR THE YEAR ENDING DECEMBER 31, 2001 ($ IN THOUSANDS)
PSEG INTERCOMPANY RESOURCES ELIMINATIONS PSEG RCMC CONSOL. & RECLASS. RESOURCES CONSOL. --------------- --------------- --------------- --------------- BALANCE JANUARY 1, 2001 $ 206,067 $ (196,317) $ 206,067 $ 113,407 NET INCOME 70,145 (79,399) 70,145 33,240 --------------- --------------- --------------- --------------- TOTAL 276,212 (275,716) 276,212 146,647 --------------- --------------- --------------- --------------- DIVIDENDS DECLARED (Incl. Preferred Stock Dividends) 5,999 -- 5,999 -- --------------- --------------- --------------- --------------- BALANCE DECEMBER 31, 2001 $ 270,213 $ (275,716) $ 270,213 $ 146,647 =============== =============== =============== =============== RCIC RCSC RCFC -------------- -------------- -------------- BALANCE JANUARY 1, 2001 $ 37,276 $ (39) $ 5,782 NET INCOME 7,537 -- (2) -------------- -------------- -------------- TOTAL 44,813 (39) 5,780 -------------- -------------- -------------- DIVIDENDS DECLARED (Incl. Preferred Stock Dividends) -- -- -- -------------- -------------- -------------- BALANCE DECEMBER 31, 2001 $ 44,813 $ (39) $ 5,780 ============== ============== ==============
PSEG RESOURCES INC. CONSOLIDATING STATEMENT OF RETAINED EARNINGS FOR THE YEAR ENDING DECEMBER 31, 2001 ($ IN THOUSANDS)
PSRC SC PSRC SC PSRC SC PSRC SC ONE TWO THREE FOUR ----------------- ----------------- ----------------- ----------------- BALANCE JANUARY 1, 2001 $ (3) $ (3) $ -- $ -- NET INCOME -- -- -- -- ----------------- ----------------- ----------------- ----------------- TOTAL (3) (3) -- -- ----------------- ----------------- ----------------- ----------------- DIVIDENDS DECLARED (Incl. Preferred Stock Dividends) -- -- -- -- ----------------- ----------------- ----------------- ----------------- BALANCE DECEMBER 31, 2001 $ (3) $ (3) $ -- $ -- ================= ================= ================= ================= THE PSGMC WATER SOURCE CONSOL. PSRC, INC. ----------------- ----------------- ------------------ BALANCE JANUARY 1, 2001 $ (1,055) $ -- $ 4,985 NET INCOME 58 -- 695 ----------------- ----------------- ------------------ TOTAL (997) -- 5,680 ----------------- ----------------- ------------------ DIVIDENDS DECLARED (Incl. Preferred Stock Dividends) -- -- -- ----------------- ----------------- ------------------ BALANCE DECEMBER 31, 2001 $ (997) $ -- $ 5,680 ================= ================= ==================
PSEG RESOURCES INC. CONSOLIDATING STATEMENT OF RETAINED EARNINGS FOR THE YEAR ENDING DECEMBER 31, 2001 ($ IN THOUSANDS)
PSEGR PSEGR PSEG Midwest PJM PSRC I, PSRC II, COLLINS EME 2 (LLC) RELIANT (LLC) ENTECH INC. INC. CONSOL. CONSOL CONSOL ----------- --------- ----------- ----------- ----------- ----------- BALANCE JANUARY 1, 2001 $ (977) $ -- $ 3,581 $ 16,739 $ 7,122 $ 9,502 NET INCOME 2 -- (10,516) 14,229 14,097 20,059 ----------- --------- ----------- ----------- ----------- ----------- TOTAL (975) -- (6,935) 30,968 21,219 29,561 ----------- --------- ----------- ----------- ----------- ----------- DIVIDENDS DECLARED (Incl. Preferred Stock Dividends) -- -- -- -- -- -- ----------- --------- ----------- ----------- ----------- ----------- BALANCE DECEMBER 31, 2001 $ (975) $ -- $ (6,935) $ 30,968 $ 21,219 $ 29,561 =========== ========= =========== =========== =========== ===========
PSEG RESOURCES INC. CONSOLIDATING BALANCE SHEET DECEMBER 31, 2001 ($ IN THOUSANDS)
PSEG INTERCOMPANY RESOURCES ELIMINATIONS PSEG RCMC CONSOL. & RECLASS. RESOURCES CONSOL. ---------------- ---------------- ---------------- ---------------- ASSETS CURRENT ASSETS -------------- Cash and temporary cash investments $ 3,648 $ -- $ 3,075 $ 292 Accounts and Notes receivable: Trade -- -- -- -- Other 1,055 -- 186 27 PSE&G -- -- -- -- PSEG -- -- -- -- Other associated companies (0) (269,852) 34,960 8,651 Notes receivable: -- -- -- -- Associated companies -- (105,225) 105,225 -- Other -- -- -- -- Interest & dividend receivable 236 -- -- -- Prepayments 26 -- 26 -- ---------------- ---------------- ---------------- ---------------- Total Current Assets 4,965 (375,077) 143,472 8,970 ---------------- ---------------- ---------------- ---------------- PROPERTY, PLANT AND EQUIPMENT ----------------------------- Real estate 71,988 -- 57,546 -- Other 8,597 -- 8,490 -- Accum. depr. and amortization (18,642) -- (8,039) -- Valuation allowances -- -- -- -- ---------------- ---------------- ---------------- ---------------- Property, Plant and Equipment-net 61,943 -- 57,997 -- ---------------- ---------------- ---------------- ---------------- INVESTMENTS ----------- Subsidiaries -- (1,225,029) 1,225,029 -- Capital lease agreements 2,790,762 -- 1,147,758 957,207 Partnership interests / Other 168,607 -- 2,212 2,875 Corporate joint ventures -- -- -- -- Securities 5,400 -- 400 -- Valuation allowances (6,604) -- (6,604) -- ---------------- ---------------- ---------------- ---------------- Total Investments 2,958,165 (1,225,029) 2,368,795 960,082 ---------------- ---------------- ---------------- ---------------- OTHER ASSETS ------------ Special funds-pension 1,039 -- 1,039 -- Unamortized fees 314 314 ---------------- ---------------- ---------------- ---------------- Total Other Assets 1,353 -- 1,353 -- ---------------- ---------------- ---------------- ---------------- TOTAL ASSETS $ 3,026,426 $ (1,600,105) $ 2,571,617 $ 969,052 ================ ================ ================ ================ RCIC RCSC RCFC ------------- ------------- ------------- ASSETS CURRENT ASSETS -------------- Cash and temporary cash investments $ -- $ 7 $ -- Accounts and Notes receivable: Trade -- -- -- Other -- -- -- PSE&G -- -- -- PSEG -- -- -- Other associated companies 5,974 -- 12,717 Notes receivable: -- Associated companies -- -- -- Other -- -- -- Interest & dividiend receivable -- -- -- Prepayments -- -- -- ------------- ------------- ------------- Total Current Assets 5,974 7 12,717 ------------- ------------- ------------- PROPERTY, PLANT AND EQUIPMENT ----------------------------- Real estate -- -- -- Other -- -- -- Accum. depr. and amortization -- -- -- Valuation allowances -- -- -- ------------- ------------- ------------- Property, Plant and Equipment-net -- -- -- ------------- ------------- ------------- INVESTMENTS ----------- Subsidiaries -- -- -- Capital lease agreements 122,008 -- -- Partnership interests / Other -- -- -- Corporate joint ventures -- -- -- Securities -- -- -- Valuation allowances -- -- -- ------------- ------------- ------------- Total Investments 122,008 -- -- ------------- ------------- ------------- OTHER ASSETS ------------ Special funds-pension -- -- -- Unamortized fees ------------- ------------- ------------- Total Other Assets -- -- -- ------------- ------------- ------------- TOTAL ASSETS $ 127,982 $ 7 $ 12,717 ============= ============= =============
PSEG RESOURCES INC. CONSOLIDATING BALANCE SHEET DECEMBER 31, 2001 ($ IN THOUSANDS)
PSRC SC PSRC SC PSRC SC PSRC SC ONE TWO THREE FOUR --------------- --------------- --------------- --------------- ASSETS CURRENT ASSETS -------------- Cash and temporary cash investments $ 5 $ 5 $ 5 $ 7 Accounts and Notes receivable: Trade -- -- -- -- Other -- -- -- -- PSE&G -- -- -- -- PSEG -- -- -- -- Other associated companies 2 2 5 3 Notes receivable: Associated companies -- -- -- -- Other -- -- -- -- Interest & dividend receivable -- -- -- -- Prepayments -- -- -- -- --------------- --------------- --------------- --------------- Total Current Assets 7 7 10 10 --------------- --------------- --------------- --------------- PROPERTY, PLANT AND EQUIPMENT ----------------------------- Real estate -- -- -- -- Other -- -- -- -- Accum. depr. and amortization -- -- -- -- Valuation allowances -- -- -- -- --------------- --------------- --------------- --------------- Property, Plant and Equipment-net -- -- -- -- --------------- --------------- --------------- --------------- INVESTMENTS ----------- Subsidiaries -- -- -- -- Capital lease agreements -- -- -- -- Partnership interests / Other -- -- -- -- Corporate joint ventures -- -- -- -- Securities -- -- -- -- Valuation allowances -- -- -- -- --------------- --------------- --------------- --------------- Total Investments -- -- -- -- --------------- --------------- --------------- --------------- OTHER ASSETS ------------ Special funds-pension -- -- -- -- Unamortized fees --------------- --------------- --------------- --------------- Total Other Assets -- -- -- -- --------------- --------------- --------------- --------------- TOTAL ASSETS $ 7 $ 7 $ 10 $ 10 =============== =============== =============== =============== THE PSGMC WATER SOURCE CONSOL. PSRC, INC. -------------- --------------- ----------------- ASSETS CURRENT ASSETS -------------- Cash and temporary cash investments $ -- $ -- $ 7 Accounts and Notes receivable: Trade -- -- -- Other -- -- -- PSE&G -- -- -- PSEG -- -- -- Other associated companies 30 -- -- Notes receivable: -- Associated companies -- -- -- Other -- -- -- Interest & dividiend receivable -- -- -- Prepayments -- -- -- -------------- --------------- ----------------- Total Current Assets 30 -- 7 -------------- --------------- ----------------- PROPERTY, PLANT AND EQUIPMENT ----------------------------- Real estate -- -- 14,442 Other -- -- 107 Accum. depr. and amortization -- -- (10,603) Valuation allowances -- -- -- -------------- --------------- ----------------- Property, Plant and Equipment-net -- -- 3,946 -------------- --------------- ----------------- INVESTMENTS ----------- Subsidiaries -- -- -- Capital lease agreements -- -- 46,048 Partnership interests / Other -- -- -- Corporate joint ventures -- -- -- Securities -- -- -- Valuation allowances -- -- -- -------------- --------------- ----------------- Total Investments -- -- 46,048 -------------- --------------- ----------------- OTHER ASSETS ------------ Special funds-pension -- -- -- Unamortized fees -------------- --------------- ----------------- Total Other Assets -- -- -- -------------- --------------- ----------------- TOTAL ASSETS $ 30 $ -- $ 50,001 ============== =============== =================
PSEG RESOURCES INC. CONSOLIDATING BALANCE SHEET DECEMBER 31, 2001 ($ IN THOUSANDS)
PSEGR Midwest PSEGR PJM PSRC I, PSRC II, PSEG COLLINS EME 2 (LLC) RELIANT (LLC) ENTECH INC. INC. CONSOL. CONSOL CONSOL ----------- --------- ----------- ------------- ------------- ------------- ASSETS CURRENT ASSETS -------------- Cash and temporary cash investments $ -- $ -- $ 245 $ -- $ -- $ -- Accounts and Notes receivable: Trade -- -- -- -- -- -- Other -- -- -- -- -- 842 PSE&G -- -- -- -- -- -- PSEG -- -- -- -- -- -- Other associated companies 44 -- 185,780 -- 19,578 2,106 Notes receivable: -- -- -- -- -- -- Associated companies -- -- -- -- -- -- Other -- -- -- -- -- -- Interest & dividend receivable -- -- 236 -- -- -- Prepayments -- -- -- -- -- ----------- --------- ----------- ------------- ------------- ------------- Total Current Assets 44 -- 186,261 -- 19,578 2,948 ----------- --------- ----------- ------------- ------------- ------------- PROPERTY, PLANT AND EQUIPMENT ----------------------------- Real estate -- -- -- -- -- -- Other -- -- -- -- -- -- Accum. depr. and amortization -- -- -- -- -- -- Valuation allowances -- -- -- -- -- -- ----------- --------- ----------- ------------- ------------- ------------- Property, Plant and Equipment-net -- -- -- -- -- -- ----------- --------- ----------- ------------- ------------- ------------- INVESTMENTS ----------- Subsidiaries -- -- -- -- -- -- Capital lease agreements -- -- -- 167,012 151,652 199,077 Partnership interests / Other -- -- 163,520 -- -- -- Corporate joint ventures -- -- -- -- -- -- Securities -- -- 5,000 -- -- -- Valuation allowances -- -- -- -- -- ----------- --------- ----------- ------------- ------------- ------------- Total Investments -- -- 168,520 167,012 151,652 199,077 ----------- --------- ----------- ------------- ------------- ------------- OTHER ASSETS ------------ Special funds-pension -- -- -- -- -- -- Unamortized fees ----------- --------- ----------- ------------- ------------- ------------- Total Other Assets -- -- -- -- -- -- ----------- --------- ----------- ------------- ------------- ------------- TOTAL ASSETS $ 44 $ -- $ 354,781 $ 167,012 $ 171,230 $ 202,025 =========== ========= =========== ============= ============= =============
PSEG RESOURCES INC. CONSOLIDATING BALANCE SHEET DECEMBER 31, 2001 ($ IN THOUSANDS)
PSEG INTERCOMPANY RESOURCES ELIMINATIONS PSEG RCMC CONSOL. & RECLASS. RESOURCES CONSOL. ---------------- --------------- ---------------- ---------------- LIABILITIES AND STOCKHOLDER'S EQUITY CURRENT LIABILITIES ------------------- Accounts payable: Trade $ -- $ -- $ -- $ -- Taxes 3 -- 3 -- Other 3,947 -- 3,468 455 Interest 1,355 -- 656 112 Associated companies 105,087 (269,852) 336,457 34,460 Notes payable: PSEG Capital Corporation 258,025 -- 185,710 65,685 Enterprise Capital Funding Corp. -- -- -- -- Enterprise Group Development Corp. -- -- -- -- Energy Holdings Inc. 923,753 -- 902,706 19,117 PSEG Resources -- (105,225) -- 105,225 Current portion of long-term debt 812 -- 812 -- ---------------- --------------- ---------------- ---------------- Total Current Liabilities 1,292,983 (375,077) 1,429,812 225,054 ---------------- --------------- ---------------- ---------------- TOTAL LONG-TERM DEBT 22,011 -- 22,011 -- -------------------- ---------------- --------------- ---------------- ---------------- DEFERRED CREDITS ---------------- Deferred income taxes 1,198,953 -- 607,314 508,315 Deferred investment -- -- -- -- and energy tax credits -- -- -- -- Other 1,066 -- 1,066 -- ---------------- --------------- ---------------- ---------------- Total Deferred Credits 1,200,018 -- 608,380 508,315 ---------------- --------------- ---------------- ---------------- STOCKHOLDER'S EQUITY -------------------- Capital stock 107,001 (67) 107,001 2 Preferred stock 134,200 -- 134,200 -- Contributed capital -- (949,245) -- 89,034 Retained earnings 270,213 (275,716) 270,213 146,647 ---------------- --------------- ---------------- ---------------- Total Stockholder's Equity 511,415 (1,225,028) 511,414 235,683 ---------------- --------------- ---------------- ---------------- TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY $ 3,026,427 $ (1,600,105) $ 2,571,617 $ 969,052 ================ =============== ================ ================ RCIC RCSC RCFC ------------- ------------- ------------- LIABILITIES AND STOCKHOLDER'S EQUITY CURRENT LIABILITIES ------------------- Accounts payable: Trade $ -- $ -- $ -- Taxes -- -- -- Other -- -- -- Interest -- -- -- Associated companies 204 36 113 Notes payable: PSEG Capital Corporation 4,260 -- 2,370 Enterprise Capital Funding Corp. -- -- -- Enterprise Group Development Corp. -- -- -- Energy Holdings Inc. 1,240 -- 690 PSEG Resources -- -- -- Current portion of long-term debt -- -- -- ------------- ------------- ------------- Total Current Liabilities 5,704 36 3,173 ------------- ------------- ------------- TOTAL LONG-TERM DEBT -- -- -- -------------------- ------------- ------------- ------------- DEFERRED CREDITS ---------------- Deferred income taxes 71,800 -- (49) Deferred investment -- -- and energy tax credits -- -- -- Other -- -- -- ------------- ------------- ------------- Total Deferred Credits 71,800 -- (49) ------------- ------------- ------------- STOCKHOLDER'S EQUITY -------------------- Capital stock 1 10 1 Preferred stock -- -- -- Contributed capital 5,664 -- 3,812 Retained earnings 44,813 (39) 5,780 ------------- ------------- ------------- Total Stockholder's Equity 50,478 (29) 9,593 ------------- ------------- ------------- TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY $ 127,982 $ 7 $ 12,717 ============= ============= =============
PSEG RESOURCES INC. CONSOLIDATING BALANCE SHEET DECEMBER 31, 2001 ($ IN THOUSANDS)
PSRC SC PSRC SC PSRC SC PSRC SC ONE TWO THREE FOUR ------------- ------------- ------------ ------------ LIABILITIES AND STOCKHOLDER'S EQUITY CURRENT LIABILITIES ------------------- Accounts payable: Trade $ - $ - $ - $ - Taxes - - - - Other - - - - Interest - - - - Associated companies - - - - Notes payable: PSEG Capital Corporation - - - - Enterprise Capital Funding Corp. - - - - Enterprise Group Development Corp. - - - - Energy Holdings Inc. - - - - PSEG Resources - - - - Current portion of long-term debt - - - - ------------- ------------- ------------ ------------ Total Current Liabilities - - - - ------------- ------------- ------------ ------------ TOTAL LONG-TERM DEBT - - - - -------------------- ------------- ------------- ------------ ------------ DEFERRED CREDITS ---------------- Deferred income taxes - - - - Deferred investment - - - - and energy tax credits - - - - Other - - - - ------------- ------------- ------------ ------------ Total Deferred Credits - - - - ------------- ------------- ------------ ------------ STOCKHOLDER'S EQUITY -------------------- Capital stock 10 10 10 10 Preferred stock - - - - Contributed capital - - - - Retained earnings (3) (3) - - ------------- ------------- ------------ ------------ Total Stockholder's Equity 7 7 10 10 ------------- ------------- ------------ ------------ TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY $ 7 $ 7 $ 10 $ 10 ============= ============= ============= ============ THE PSGMC WATER SOURCE CONSOL. PSRC, INC. ------------------- ---------------- ------------- LIABILITIES AND STOCKHOLDER'S EQUITY CURRENT LIABILITIES ------------------- Accounts payable: Trade $ - $ - $ - Taxes - - - Other - - - Interest - - - Associated companies - - 2,684 Notes payable: PSEG Capital Corporation - - - Enterprise Capital Funding Corp. - - - Enterprise Group Development Corp. - - - Energy Holdings Inc. - - - PSEG Resources - - - Current portion of long-term debt - - - ------------------- ---------------- ------------- Total Current Liabilities - - 2,684 ------------------- ---------------- ------------- TOTAL LONG-TERM DEBT - - - -------------------- ------------------- ---------------- ------------- DEFERRED CREDITS ---------------- Deferred income taxes - - 27,102 Deferred investment - - - and energy tax credits - - - Other - - - ------------------- ---------------- ------------- Total Deferred Credits - - 27,102 ------------------- ---------------- ------------- STOCKHOLDER'S EQUITY -------------------- Capital stock 10 - 1 Preferred stock - - - Contributed capital 1,017 - 14,534 Retained earnings (997) - 5,680 ---------------------------------------------------------- Total Stockholder's Equity 30 - 20,215 ------------------- ---------------- ------------- TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY $ 30 $ - $ 50,001 =================== ================ =============
PSEG RESOURCES INC. CONSOLIDATING BALANCE SHEET DECEMBER 31, 2001 ($ IN THOUSANDS)
PSEG COLLINS ENTECH PSRC I, INC. PSRC II, INC. CONSOL. --------------- ----------------- ----------------- --------------- LIABILITIES AND STOCKHOLDER'S EQUITY CURRENT LIABILITIES ------------------- Accounts payable: Trade $ - $ - $ - Taxes - - - Other - - (20) Interest - 588 - Associated companies - - 22 Notes payable: - - PSEG Capital Corporation - - - Enterprise Capital Funding Corp. - - - Enterprise Group Development Corp. - - - Energy Holdings Inc. - - - PSEG Resources - - - Current portion of long-term debt - - --------------- ----------------- ----------------- --------------- Total Current Liabilities - - 588 2 --------------- ----------------- ----------------- --------------- TOTAL LONG-TERM DEBT - - - - -------------------- --------------- ----------------- ----------------- --------------- DEFERRED CREDITS ---------------- Deferred income taxes - (15,530) - Deferred investment - - - and energy tax credits - - - Other - - - --------------- ----------------- ----------------- --------------- Total Deferred Credits - - (15,530) - --------------- ----------------- ----------------- --------------- STOCKHOLDER'S EQUITY -------------------- Capital stock 1 1 - Preferred stock - - - Contributed capital 1,018 376,657 136,042 Retained earnings (975) - (6,935) 30,968 ------------------------------------------------------------------------------- Total Stockholder's Equity 44 - 369,723 167,010 --------------- ----------------- ----------------- --------------- TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY $ 44 $ - $ 354,781 $ 167,012 =============== ================= ================= =============== PSEGR MIDWEST PSEGR PJM EME 2 (LLC) RELIANT (LLC) CONSOL CONSOL ---------------- --------------- LIABILITIES AND STOCKHOLDER'S EQUITY CURRENT LIABILITIES Accounts payable: Trade $ - $ - Taxes - - Other 43 0 Interest - - Associated companies - 964 Notes payable: - - PSEG Capital Corporation - - Enterprise Capital Funding Corp. - - Enterprise Group Development Corp. - - Energy Holdings Inc. - - PSEG Resources - - Current portion of long-term debt ---------------- --------------- Total Current Liabilities 43 964 ---------------- --------------- TOTAL LONG-TERM DEBT - - -------------------- ---------------- --------------- DEFERRED CREDITS ---------------- Deferred income taxes - - Deferred investment - - and energy tax credits - - Other - - ---------------- --------------- Total Deferred Credits - - ---------------- --------------- STOCKHOLDER'S EQUITY -------------------- Capital stock - - Preferred stock - - Contributed capital 149,968 171,500 Retained earnings 21,219 29,561 ---------------------------------- Total Stockholder's Equity 171,187 201,061 ---------------- --------------- TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY $ 171,230 $ 202,025 ================ ===============
RESOURCES CAPITAL MANAGEMENT CORPORATION CONSOLIDATING STATEMENT OF INCOME FOR THE YEAR ENDING DECEMBER 31, 2001 ($ IN THOUSANDS)
INTERCOMPANY RCMC ELIMINATIONS CONSOL. & RECLASS. RCMC RCMCSC --------------- ---------------- ------------ ----------- REVENUES: Income from partnerships $ 469 $ - $ - $ - Income from capital lease agreements 58,472 - 43,376 - Investment gains (losses) 6,045 - - - Interest and dividend income - - - - Other 5 - - 5 Equity in subsidiary earnings - (10,017) 10,017 - --------------- ---------------- ------------ ----------- Total revenues 64,991 (10,017) 53,393 5 --------------- ---------------- ------------ ----------- OPERATING EXPENSES: Operation and maintenance - - - - Depreciation and amortization - - - - Administrative and general 40 - 120 5 --------------- ---------------- ------------ ----------- Total operating expenses 40 - 120 5 --------------- ---------------- ------------ ----------- OPERATING INCOME 64,951 (10,017) 53,273 - --------------- ---------------- ------------ ----------- INTEREST EXPENSE: PSEG Capital Corporation 2,038 - 1,192 - Enterprise Capital Funding Corp. - - - - Energy Holdings Inc. 5,079 - 2,968 - Other 5,832 - - - Capitalized interest - - - - --------------- ---------------- ------------ ----------- Net interest expense 12,949 - 4,160 - --------------- ---------------- ------------ ----------- INCOME BEFORE INCOME TAXES 52,002 (10,017) 49,113 - --------------- ---------------- ------------ ----------- INCOME TAXES: Current (8,203) - (43,367) - Deferred 27,342 - 59,617 - Investment and energy tax credits - net (377) - (377) - --------------- ---------------- ------------ ----------- Total income taxes 18,762 - 15,873 - --------------- ---------------- ------------ ----------- MINORITY INTERESTS - - - - --------------- ---------------- ------------ ----------- NET INCOME $ 33,240 $ (10,017) $ 33,240 $ - =============== ================ ============ =========== DYNEGY RCMC, INC. RCMC I, INC. CONSOL ------------- ------------- ------------ REVENUES: Income from partnerships $ 469 $ - $ - Income from capital lease agreements 124 3,294 11,678 Investment gains (losses) 6,045 - - Interest and dividend income - - - Other - - - Equity in subsidiary earnings - - - ------------- ------------- ------------ Total revenues 6,638 3,294 11,678 ------------- ------------- ------------ OPERATING EXPENSES: Operation and maintenance - - - Depreciation and amortization - - - Administrative and general 126 (210) - ------------- ------------- ------------ Total operating expenses 126 (210) - ------------- ------------- ------------ OPERATING INCOME 6,512 3,504 11,678 INTEREST EXPENSE: ------------- ------------- ------------ PSEG Capital Corporation - 847 - Enterprise Capital Funding Corp. - - - Energy Holdings Inc. - 2,110 - Other - - 5,832 Capitalized interest - - - ------------- ------------- ------------ Net interest expense - 2,957 5,832 ------------- ------------- ------------ INCOME BEFORE INCOME TAXES 6,512 547 5,846 INCOME TAXES: ------------- ------------- ------------ Current 34,384 779 - Deferred (31,979) (296) - Investment and energy tax credits - net - - - ------------- ------------- ------------ Total income taxes 2,405 483 - ------------- ------------- ------------ MINORITY INTERESTS NET INCOME - - - ------------- ------------- ------------ $ 4,107 $ 64 $ 5,846 ============= ============= ============
RESOURCES CAPITAL MANAGEMENT CORPORATION CONSOLIDATING STATEMENT OF RETAINED EARNINGS FOR THE YEAR ENDING DECEMBER 31, 2001 ($ IN THOUSANDS)
INTERCOMPANY RCMC ELIMINATIONS CONSOL. & RECLASS. RCMC RCMCSC --------------- ---------------- ------------ ----------- BALANCE JANUARY 1, 2001 $ 113,407 $ (3,273) $ 113,407 $ (16) NET INCOME 33,240 (10,017) 33,240 - --------------- ---------------- ------------ ----------- TOTAL 146,647 (13,290) 146,647 (16) --------------- ---------------- ------------ ----------- DIVIDENDS DECLARED - - - - --------------- ---------------- ------------ ----------- BALANCE DECEMBER 31, 2001 $ 146,647 $ (13,290) $ 146,647 $ (16) =============== ================ ============ =========== DYNEGY RCMC, INC. RCMC I, INC. CONSOL ------------- ------------- ------------ BALANCE JANUARY 1, 2001 $ (144) $ 3,433 $ - NET INCOME 4,107 64 5,846 ------------- ------------- ------------ TOTAL 3,963 3,497 5,846 ------------- ------------- ------------ DIVIDENDS DECLARED - - - ------------- ------------- ------------ BALANCE DECEMBER 31, 2001 $ 3,963 $ 3,497 $ 5,846 ============= ============= ============
RESOURCES CAPITAL MANAGEMENT CORPORATION CONSOLIDATING BALANCE SHEET DECEMBER 31, 2001 ($ IN THOUSANDS)
INTERCOMPANY RCMC ELIMINATIONS CONSOL. & RECLASS. RCMC RCMCSC --------------- ---------------- ------------ ----------- ASSETS CURRENT ASSETS Cash and temporary cash investments $ 292 $ - $ - $ 11 Accounts and Notes receivable: - - - - Trade - - - - Other 27 - 27 - PSE&G - - - - PSEG - - - - Other associated companies 8,652 - - 0 Notes receivable: - - - - Associated companies - - - - Prepayments - - - - --------------- ---------------- ------------ ----------- Total Current Assets 8,971 - 27 11 --------------- ---------------- ------------ ----------- PROPERTY, PLANT AND EQUIPMENT Real estate - - - - Other - - - - Accum. depr. and amortization - - - - Valuation allowances - - - - --------------- ---------------- ------------ ----------- Property, Plant and Equipment-net - - - - --------------- ---------------- ------------ ----------- INVESTMENTS Subsidiaries - (35,957) 35,957 - Capital lease agreements 957,207 - 622,841 - Partnership interests 2,875 - - - Corporate joint ventures - - - - Securities - - - - Valuation allowances - - - - --------------- ---------------- ------------ ----------- Total Investments 960,082 (35,957) 658,798 - --------------- ---------------- ------------ ----------- OTHER ASSETS Other - - - - --------------- ---------------- ------------ ----------- Total Other Assets - - - - --------------- ---------------- ------------ ----------- TOTAL ASSETS $ 969,053 $ (35,957) $ 658,825 $ 11 =============== ================ ============ =========== DYNEGY RCMC, INC. RCMC I, INC. CONSOL ------------- ------------- ------------ ASSETS CURRENT ASSETS Cash and temporary cash investments $ 11 $ 270 $ - Accounts and Notes receivable: - - - Trade - - - Other - - - PSE&G - - - PSEG - - - Other associated companies 6,307 2,345 - Notes receivable: - - - Associated companies - - - Prepayments - - - ------------- ------------- ------------ Total Current Assets 6,318 2,615 - ------------- ------------- ------------ PROPERTY, PLANT AND EQUIPMENT Real estate - - - Other - - - Accum. depr. and amortization - - - Valuation allowances - - - ------------- ------------- ------------ Property, Plant and Equipment-net - - - ------------- ------------- ------------ INVESTMENTS Subsidiaries - - - Capital lease agreements - 182,387 151,979 Partnership interests 2,875 - - Corporate joint ventures - - - Securities - - - Valuation allowances - - - ------------- ------------- ------------ Total Investments 2,875 182,387 151,979 ------------- ------------- ------------ OTHER ASSETS Other - - - ------------- ------------- ------------ Total Other Assets - - - ------------- ------------- ------------ TOTAL ASSETS $ 9,193 $ 185,002 $ 151,979 ============= ============= ============
RESOURCES CAPITAL MANAGEMENT CORPORATION CONSOLIDATING BALANCE SHEET DECEMBER 31, 2001 ($ IN THOUSANDS)
INTERCOMPANY RCMC ELIMINATIONS CONSOL. & RECLASS. RCMC RCMCSC --------------- ---------------- ------------ ----------- LIABILITIES AND STOCKHOLDER'S EQUITY CURRENT LIABILITIES Accounts payable: Trade $ - $ - $ - $ - Taxes - - - - Other 455 - 155 - Interest 112 - - - Associated companies 34,460 - 27,276 16 Notes payable: - - - - PSEG Capital Corporation 65,685 - 38,391 - Enterprise Capital Funding Corp. - - - - Enterprise Group Development Corp. - - - - Energy Holdings Inc. 19,118 - 11,174 - PSEG Resources 105,225 - - - Current portion of long-term debt - - - - --------------- ---------------- ------------ ----------- Total Current Liabilities 225,055 - 76,996 16 --------------- ---------------- ------------ ----------- TOTAL LONG-TERM DEBT - - - - --------------- ---------------- ------------ ----------- DEFERRED CREDITS Deferred income taxes 508,315 - 346,146 - Deferred investment - - - - and energy tax credits - - - - Other - - - - --------------- ---------------- ------------ ----------- Total Deferred Credits 508,315 - 346,146 - --------------- ---------------- ------------ ----------- STOCKHOLDER'S EQUITY Capital stock 2 (3) 2 1 Preferred stock - - - - Contributed capital 89,034 (22,664) 89,034 10 Retained earnings 146,647 (13,290) 146,647 (16) --------------- ---------------- ------------ ----------- Total Stockholder's Equity 235,683 (35,957) 235,683 (5) --------------- ---------------- ------------ ----------- TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY $ 969,053 $ (35,957) $ 658,825 $ 11 =============== ================ ============ =========== DYNEGY RCMC, INC. RCMC I, INC. CONSOL ------------- ------------- ------------ LIABILITIES AND STOCKHOLDER'S EQUITY CURRENT LIABILITIES Accounts payable: Trade $ - $ - $ - Taxes - - - Other 300 - - Interest 112 - - Associated companies 26 1,309 5,833 Notes payable: - - - PSEG Capital Corporation - 27,294 - Enterprise Capital Funding Corp. - - - Enterprise Group Development Corp. - - - Energy Holdings Inc. - 7,944 - PSEG Resources - - 105,225 Current portion of long-term debt - - - ------------- ------------- ------------ Total Current Liabilities 438 36,547 111,058 ------------- ------------- ------------ TOTAL LONG-TERM DEBT - - - ------------- ------------- ------------ DEFERRED CREDITS Deferred income taxes Deferred investment 2,597 159,572 - and energy tax credits - - - Other - - - - - - Total Deferred Credits ------------- ------------- ------------ 2,597 159,572 - ------------- ------------- ------------ TOCKHOLDER'S EQUITY Capital stock 1 1 - Preferred stock - - - Contributed capital 2,194 (14,615) 35,075 Retained earnings 3,963 3,497 5,846 ------------- ------------- ------------ Total Stockholder's Equity 6,158 (11,117) 40,921 ------------- ------------- ------------ TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY $ 9,193 $ 185,002 $ 151,979 ============= ============= ============
PSEG ENERGY TECHNOLOGIES INC CONSOLIDATING STATEMENT OF INCOME FOR THE YEAR ENDING DECEMBER 31, 2001 ($ IN THOUSANDS)
PSEG Energy Intercompany Technologies Eliminations PSEG Energy Fluidics Consolidated & Reclassifications Technologies PSCRC Consolidated Arden ------------ ------------------- ------------ ---------- ------------- ----- REVENUES: Mechanical Service Contracts 442,838 (3,544) 12,893 409 96,407 34,623 DSM-Revenue 24,549 - 984 23,415 - - ------------ ------------------- ------------ ---------- ------------- ------ Total Sales 467,387 (3,544) 13,877 23,824 96,407 34,623 ------------ ------------------- ------------ ---------- ------------- ------ COST OF SALES: Operation and maintenance 414,189 7,340 11,557 90,834 28,707 ------------ ------------------- ------------ ---------- ------------- ------ Total Cost of Sales 414,189 - 7,340 11,557 90,834 28,707 ------------ ------------------- ------------ ---------- ------------- ------ Gross Margin 53,198 (3,544) 6,537 12,267 5,573 5,916 Gain (loss) on sale of Investments (600) (574) Equity in Subsidiary earnings - 12,955 (12,955) - - - Miscellaneous Nonoperating income 2,899 2,520 - 213 - ------------ ------------------- ------------ ---------- ------------- ------ Total Operating Revenues 55,497 9,411 (4,472) 12,267 5,786 5,916 ------------ ------------------- ------------ ---------- ------------- ------ OPERATING EXPENSES: Administrative and general 69,722 3,846 8,088 15,095 6,401 Goodwill Amort 2,636 - 2,636 - - - Depreciation & Amort 4,793 - 2,424 - 752 188 ------------ ------------------- ------------ ---------- ------------- ------ Total Operating Expenses 77,151 - 8,906 8,088 15,847 6,589 ------------ ------------------- ------------ ---------- ------------- ------ OPERATING (LOSS) INCOME (21,654) 9,411 (13,378) 4,179 (10,061) (673) INTEREST EXPENSE (INCOME)-NET 4,605 4,595 - (57) TAXES: Taxes-Current (9,249) - (710) 582 (3,312) (310) Taxes-Deferred 641 - 388 (140) 76 Total Taxes (8,608) - (322) 582 (3,452) (234) ------------ ------------------- ------------ ---------- ------------- ------ NET INCOME/(LOSS) $ (17,651) $ 9,411 $ (17,651) $ 3,597 $ (6,552) $ (439) ============ =================== ============ ========== ============= ====== Liber Rich & Sons ----------------- 9,782 - ----------------- 9,782 ----------------- 10,071 ----------------- 10,071 ----------------- (289) - 6 ----------------- (283) ----------------- 1,507 - (63) ----------------- 1,444 ----------------- (1,727) 1 (702) 97 ----------------- (605) ----------------- $ (1,123) =================
PSEG ENERGY TECHNOLOGIES INC CONSOLIDATING STATEMENT OF INCOME FOR THE YEAR ENDING DECEMBER 31, 2001 ($ IN THOUSANDS)
Frank A. McBride Company Rich Fire Struble Consolidated East Coast Barham Tougher Central --------- ------- ------------ ---------- ------- ------- --------- REVENUES: Mechanical Service Contracts 7,431 12,741 101,113 1,722 45,751 37,110 10,308 DSM-Revenue -- -- 150 -- -- -- -- --------- ------- ------------ ---------- ------- ------- --------- Total Sales 7,431 12,741 101,263 1,722 45,751 37,110 10,308 --------- ------- ------------ ---------- ------- ------- --------- COST OF SALES: Operation and maintenance 6,535 10,594 89,753 1,744 41,971 32,687 11,242 --------- ------- ------------ ---------- ------- ------- --------- Total Cost of Sales 6,535 10,594 89,753 1,744 41,971 32,687 11,242 --------- ------- ------------ ---------- ------- ------- --------- Gross Margin 896 2,147 11,510 (22) 3,780 4,423 (934) Gain (loss) on sale of Investments -- (22) -- Investment in subsidiaries -- -- -- -- -- Miscellaneous Nonoperating income 4 6 117 1 5 5 22 --------- ------- ------------ ---------- ------- ------- --------- Total Operating Revenues 900 2,153 11,605 (21) 3,785 4,428 (912) --------- ------- ------------ ---------- ------- ------- --------- OPERATING EXPENSES: Administrative and general 1,633 3,285 12,286 1,011 5,467 7,201 2,611 Goodwill Amort -- -- -- -- Depreciation & Amort 56 135 942 120 54 19 67 --------- ------- ------------ ---------- ------- ------- --------- Total Operating Expenses 1,689 3,420 13,228 1,131 5,521 7,220 2,678 --------- ------- ------------ ---------- ------- ------- --------- OPERATING INCOME (789) (1,267) (1,623) (1,152) (1,736) (2,792) (3,590) INTEREST EXPENSE (INCOME)-NET 8 7 24 3 (5) 26 3 TAXES: Taxes-Current (294) (431) (655) (402) (693) (1,035) (1,287) Taxes-Deferred 15 (15) 50 (1) 87 54 30 --------- ------- ------------ ---------- ------- ------- --------- Total Taxes (279) (446) (605) (403) (606) (981) (1,257) --------- ------- ------------ ---------- ------- ------- --------- NET INCOME/(LOSS) $ (518) $ (828) $ (1,042) $ (752) $ (1,125) $ (1,837) $ (2,336) ========= ======== ============ =========== ======== ======== ======== Barham Arden Barham McBride JV McBride JV McBride JV II Quonset ---------- ---------- ------------- ------- 397 75,695 -- -- ---------- ---------- ------------ ------ -- 397 75,695 -- ---------- ---------- ------------ ------ 502 70,652 ---------- ---------- ------------ ------ -- 502 70,652 -- ---------- ---------- ------------ ------ -- (105) 5,043 (4) ---------- ---------- ------------ ------ (4) (105) 5,043 -- ---------- ---------- ------------ ------ 123 1,168 29 99 ---------- ---------- ------------ ------ -- 123 1,267 29 ---------- ---------- ------------ ------ (4) (228) 3,776 (29) ---------- ---------- ------------ ------ -- -- -- -- ---------- ---------- ------------ ------ $ (4) $ (228) $ 3,776 $(29) =========== ========== ============ ======
PSEG ENERGY TECHNOLOGIES INC CONSOLIDATING STATEMENT OF RETAINED EARNINGS FOR THE YEAR ENDING DECEMBER 31, 2001 ($ IN THOUSANDS)
PSEG Energy Intercompany Technologies Eliminations PSEG Energy Fluidics Consolidated & Reclassifications Technologies PSCRC Consolidated Arden Liber Rich & Sons ------------ ------------------- ------------ ---------- ------------- ----- ----------------- BALANCE JANUARY 1, 2001 (58,849) 19,970 (58,849) 13,815 (746) 632 (2,179) NET LOSS (17,651) 9,411 (17,651) 3,597 (6,523) (439) (1,123) ------------ ------------------- ------------ ---------- ------------- ----- ----------------- TOTAL (76,500) 29,381 (76,500) 17,412 (7,269) 193 (3,302) ------------ ------------------- ------------ ---------- ------------- ----- ----------------- DIVIDENDS DECLARED -- -- -- -- -- -- ------------ ------------------- ------------ ---------- ------------- ----- ----------------- BALANCE DECEMBER 31, 2001 $ (76,500) $ 29,381 $ (76,500) $ 17,412 $ (7,269) $ 193 $ (3,302) ------------ ------------------- ------------ ---------- ------------- ----- ----------------- Frank A. McBride Barham Rich Fire Struble Company East Coast Barham Tougher Central McBride JV --------- ------- ------------ ---------- ------- ------- ------- ---------- BALANCE JANUARY 1, 2001 214 (619) 9,978 (187) 2,479 (6,394) (67) 569 NET INCOME/(LOSS) (518) (828) (1,042) (752) (1,125) (1,837) (2,336) (4) --------- ------- ------------ ------- ---------- ------- ------- ---------- TOTAL (304) (1,447) 8,936 (939) 1,354 (8,231) (2,403) 565 --------- ------- ------------ ------- ---------- ------- ------- ---------- DIVIDENDS DECLARED -- -- -- -- -- -- -- -- --------- ------- ------------ ------- ---------- ------- ------- ---------- BALANCE DECEMBER 31, 2001 $ (304) $(1,447) $ 8,936 $ (939) $ 1,354 $(8,231) $(2,403) $ 565 ========= ======= ============ ======= ========== ======== ======= ========== Arden Barham McBride JV McBride JV II Quonset ---------- ------------- ------- 1,488 987 (228) 3,776 (29) ---------- ------------- ------- 1,260 4,763 (29) ---------- ------------- ------- -- -- -- ---------- ------------- ------- $ 1,260 $ 4,763 $ (29) ========== ============= =======
PSEG ENERGY TECHNOLOGIES INC CONSOLIDATING BALANCE SHEET FOR THE YEAR ENDING DECEMBER 31, 2001 ($ IN THOUSANDS)
PSEG Energy Intercompany Technologies Eliminations PSEG Energy Fluidics Consolidated & Reclassifications Technologies PSCRC Consolidated Arden ------------ ------------------- ------------ ---------- ------------- ----- ASSETS CURRENT ASSETS Cash & Cash Equivalents -- 660 (1,325) 132 18 Trade Receivable: -- Business Solutions 113,479 (8,969) 9,612 20,044 8,991 DSM Receivable 6,187 -- 6,187 Allow. For Doubtful Accts (5,253) -- (2,450) (338) (517) (25) A/R-Assoc. Companies -- (1,368,452) 684,651 29,728 162,586 51,720 A/R-Other Receivables 551 499 307 49 8 Notes Receivable 20,784 20,201 N/R-Assoc. Companies -- (72,092) 28,636 36,122 122 6,550 Inventory 547 -- -- Cost & Earnings in Excess of Billings 19,376 -- 79 4,112 244 Prepayments 673 -- 184 -- (33) 41 Interest Receivable 1,628 -- 1,628 -- -- -- ------- ---------- ------- ------- ------- ------ Total Current Assets 157,972 (1,448,354) 741,523 71,699 186,494 67,547 ------- ---------- ------- ------- ------- ------ PROPERTY, PLANT AND EQUIPMENT Office Furniture 6,230 -- 1,384 -- 194 190 Office Equipment 11,995 -- 5,503 -- 421 Computers - Desktop 5,660 -- 5,356 -- 254 Software - Bus Sol 2,460 -- 83 -- 1,730 Intangible Assets 6,175 -- 6,168 -- Automobiles 8,275 -- 69 -- 1,411 544 Misc. Equipment - Bus Sol 816 -- -- 558 Construction in Progress 681 -- 373 -- -- Leasehold Improvements 2,837 -- 300 -- 171 132 Accum. Depr. & Amort (31,778) -- (13,139) -- (3,293) (1,228) ------- ---------- ------- ------- ------- ------ Property, Plant and Equipment-net 13,351 -- 6,097 -- 771 313 ------- ---------- ------- ------- ------- ------ INVESTMENTS Investment in subsidiaries -- (104,869) 104,869 -- -- -- Joint Ventures 284 (10,319) -- -- 678 1,748 Investments in Leases 4,365 -- 4,365 -- -- DSM Investments 47,001 -- (103) 47,096 -- -- ------- ---------- ------- ------- ------- ------ Total Investments 51,650 (115,188) 104,766 51,461 678 1,748 ------- ---------- ------- ------- ------- ------ OTHER ASSETS Accum Def Inc Tax 7,416 -- (477) 6,869 425 (323) Other 4,511 2,346 2,165 -- Special Fund - Pension 2,095 -- 2,095 -- -- -- Goodwill 52,660 -- 52,660 -- -- -- ------- ---------- ------- ------- ------- ------ Total Other Assets 66,682 2,346 56,443 6,869 425 (323) ------- ---------- ------- ------- ------- ------ TOTAL ASSETS $289,655 $(1,561,196) $908,829 $130,029 $188,368 $69,285 ======= ========== ======= ======= ======= ====== Liber Rich & Sons ----------------- ASSETS CURRENT ASSETS Cash & Cash Equivalents 4 Trade Receivable: Business Solutions 2,043 DSM Receivable Allow. For Doubtful Accts A/R-Assoc. Companies (366) A/R-Other Receivables 17,623 Notes Receivable 2 N/R-Assoc. Companies 85 Inventory -- Cost & Earnings in Excess of Billings ----------------- Prepayments 19,391 Interest Receivable ----------------- Total Current Assets 69 PROPERTY, PLANT AND EQUIPMENT 106 Office Furniture Office Equipment Computers - Desktop 746 Software - Bus Sol Intangible Assets Automobiles 37 Misc. Equipment - Bus Sol (758) Construction in Progress ----------------- Leasehold Improvements 200 Accum. Depr. & Amort ----------------- Property, Plant and Equipment-net -- INVESTMENTS 3 Investment in subsidiaries Joint Ventures -- Investments in Leases ----------------- DSM Investments 3 ----------------- Total Investments (97) OTHER ASSETS Accum Def Inc Tax -- Other -- Special Fund - Pension Goodwill ----------------- (97) Total Other Assets ----------------- TOTAL ASSETS $ 19,497 ================
PSEG ENERGY TECHNOLOGIES INC CONSOLIDATING BALANCE SHEET FOR THE YEAR ENDING DECEMBER 31, 2001 ($ IN THOUSANDS)
Frank A. McBride Company RICH FIRE Struble Consolidated East Coast Barham Tougher Central --------- ------- ------------ --------- ---------- ------- ------- ASSETS CURRENT ASSETS Cash & Cash Equivalents 3 121 (97) 2 235 72 42 Trade Receivable: Business Solutions 2,860 4,657 28,019 809 10,177 13,602 4,883 DSM Receivable Allow. For Doubtful Accts (1) (128) (92) (69) (299) (817) (151) A/R-Assoc. Companies 9,758 16,291 146,342 3,464 58,388 75,778 18,130 A/R-Other Receivables 2 23 27 9 44 12 (480) Notes Receivable 521 62 N/R-Assoc. Companies 662 Inventory 305 242 Cost & Earnings in Excess of Billings 80 588 6,007 87 2,360 2,180 366 Prepayments -- 10 43 (21) 389 Interest Receivable -- -- -- -- -- -------- -------- -------- -------- -------- -------- -------- Total Current Assets 12,702 21,552 181,183 4,345 71,405 91,520 22,790 -------- -------- -------- -------- -------- -------- -------- PROPERTY, PLANT AND EQUIPMENT Office Furniture 112 340 2,248 106 346 1,046 173 Office Equipment 171 120 3,253 94 296 2,022 Computers - Desktop 2 21 Software - Bus Sol 647 Intangible Assets 7 Automobiles 448 1,274 1,551 840 235 495 365 Misc. Equipment - Bus Sol 71 183 Construction in Progress Leasehold Improvements 96 244 968 142 567 159 Accum. Depr. & Amort (554) (997) (6,295) (639) (820) (3,352) (554) -------- -------- -------- -------- -------- -------- -------- Property, Plant and Equipment-net 273 981 2,445 429 199 778 326 -------- -------- -------- -------- -------- -------- -------- INVESTMENTS Investment in subsidiaries -- -- -- -- Joint Ventures -- -- 3,629 -- 3,025 573 Investments in Leases -- -- -- -- DSM Investments -- -- -- 8 -- -------- -------- -------- -------- -------- -------- -------- Total Investments -- -- 3,629 8 3,025 573 -- -------- -------- -------- -------- -------- -------- -------- OTHER ASSETS Accum Def Inc Tax (15) 6 1,255 39 (87) (54) (125) Other -- -- Special Fund - Pension -- -- -- -- -- Goodwill -- -- -- -- -- -------- -------- -------- -------- -------- -------- -------- Total Other Assets (15) 6 1,255 39 (87) (54) (125) -------- -------- -------- -------- -------- -------- -------- TOTAL ASSETS $ 12,960 $ 22,539 $188,512 $ 4,821 $ 74,542 $ 92,817 $ 22,991 ======== ======== ======== ======== ======== ======== ======== Barham Arden Barham McBride JV McBride JV McBride JV II Quonset ---------- ---------- ------------- ------- 9 46 78 -- 16,751 17,997 75,992 4 49 3,188 61 -------- -------- ------------- -------- 9 18,043 96,119 4 -------- -------- ------------- -------- 7 15 9 27 169 128 4 308 21 (123) (26) -------- -------- ------------- -------- -- 80 151 308 -------- -------- ------------- -------- 556 391 -------- -------- ------------- -------- 556 -- 391 -- -------- -------- ------------- -------- -------- -------- ------------- -------- -- -- -- -- -------- -------- ------------- -------- $ 565 $ 18,123 $ 96,661 $ 312 ======== ======== ============= ========
PSEG ENERGY TECHNOLOGIES INC CONSOLIDATING BALANCE SHEET FOR THE YEAR ENDING DECEMBER 31, 2001 ($ IN THOUSANDS)
PSEG Energy Intercompany Technologies Eliminations & PSEG Energy Fluidics Liber Rich Consolidated Reclassifications Technologies PSCRC Consolidated Arden & Sons ------------ ----------------- ------------ ----- ------------ ----- ------ LIABILITIES AND STOCKHOLDER'S EQUITY CURRENT LIABILITIES A/P-Accrued 16,377 (931) 5,921 11 1,737 984 143 A/P-Trade 38,088 (1,070) 2,420 727 8,417 2,452 672 Billings in Excess of Costs & Earnings 18,739 - 599 3,248 5,181 67 Taxes Payable 362 - (63) 653 - - (1) A/P-Associated Companies 9,441 (1,374,275) 654,391 36,158 163,561 55,103 19,338 N/P-Associated Companies 33,629 (72,406) 76,312 - 14,153 - 1,795 Current Portion of L/T Debt 81 187 - - - - - ------- ---------- ------- ------- ------- ------ ------ Total Current Liabilities 116,717 (1,448,495) 739,580 37,549 191,116 63,720 22,014 ------- ---------- ------- ------- ------- ------ ------ DEFERRED LIABILITIES Other Deferred Balance 875 - 1,164 - - - Long Term Payables 1,110 (187) - - - - 104 Deferred Revenue - DSM 2,868 - 2,868 - - - Non-Qualified Pension Accrual 1,256 - 1,256 - - - - ------- ---------- ------- ------- ------- ------ ------ Total Deferred liabilities 6,109 (187) 2,420 2,868 - - 104 ------- ---------- ------- ------- ------- ------ ------ STOCKHOLDER'S EQUITY Capital Stock 10 4,852 10 10 - - 2 Contributed Capital 243,319 (106,806) 243,319 72,190 4,521 5,372 679 Retained Earnings (76,500) (10,560) (76,500) 17,412 (7,269) 193 (3,302) ------- ---------- ------- ------- ------- ------ ------ Total Stockholder's Equity 166,829 (112,514) 166,829 89,612 (2,748) 5,565 (2,621) ------- ---------- ------- ------- ------- ------ ------ TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY $289,655 $(1,561,196) $908,829 $130,029 $188,368 $69,285 $19,497 ======= ========== ======= ======= ======= ====== ======
PSEG ENERGY TECHNOLOGIES INC CONSOLIDATING BALANCE SHEET FOR THE YEAR ENDING DECEMBER 31, 2001 ($ IN THOUSANDS)
Frank A. McBride Company Rich Fire Struble Consolidated East Coast Barham Tougher Central --------- ------- ------------ ---------- ------ ------- ------- LIABILITIES AND STOCKHOLDER'S EQUITY CURRENT LIABILITIES A/P-Accrued 230 2 3,379 165 311 1,438 268 A/P-Trade 354 583 6,424 54 6,813 3,697 956 Billings in Excess of Costs & Earnings 196 324 3,267 41 1,249 1,530 462 Taxes Payable - - (218) (1) (1) - (7) A/P-Associated Companies 11,479 20,691 154,918 4,262 64,681 79,369 23,044 N/P-Associated Companies 935 1,561 293 922 - 9,520 544 Current Portion of L/T Debt - - (1) (120) 15 - - ------ ------ ------- ----- ------ ------ ------ Total Current Liabilities 13,194 23,161 168,063 5,323 73,068 95,555 25,267 ------ ------ ------- ----- ------ ------ ------ DEFERRED LIABILITIES Other Deferred Balance - - (289) - - - - Long Term Payables 116 261 289 398 20 - 109 Deferred Revenue - DSM - - - - - - - Non-Qualified Pension Accrual - - - - - - - ------ ------ ------- ----- ------ ------ ------ Total Deferred liabilities 116 261 - 398 20 - 109 ------ ------ ------- ----- ------ ------ ------ STOCKHOLDER'S EQUITY Capital Stock (46) 2 (3,223) 39 - (1,654) 18 Contributed Capital 562 14,736 100 7,147 Retained Earnings (304) (1,447) 8,936 (939) 1,354 (8,231) (2,403) ------ ------ ------- ----- ------ ------ ------ Total Stockholder's Equity (350) (883) 20,448 (900) 1,454 (2,738) (2,385) ------ ------ ------- ----- ------ ------ ------ TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY $12,960 $22,539 $188,512 $4,821 $74,542 $92,817 $22,991 ====== ====== ======= ===== ====== ====== ====== Barham Arden Barham McBride JV McBride JV McBride JV II Quonset ---------- ---------- ------------- ------------- LIABILITIES AND STOCKHOLDER'S EQUITY CURRENT LIABILITIES A/P-Accrued 2,718 1 A/P-Trade 111 5,470 7 Billings in Excess of Costs & Earnings 15 2,560 Taxes Payable A/P-Associated Companies 15,239 81,150 331 N/P-Associated Companies Current Portion of L/T Debt --- ------ ------ ------ Total Current Liabilities - 15,365 91,898 339 --- ------ ------ ------ DEFERRED LIABILITIES Other Deferred Balance Long Term Payables Deferred Revenue - DSM Non-Qualified Pension Accrual --- ------ ------ ------ Total Deferred liabilities - - - - --- ------ ------ ------ STOCKHOLDER'S EQUITY Capital Stock Contributed Capital 1,498 2 Retained Earnings 565 1,260 4,763 (29) --- ------ ------ ------ Total Stockholder's Equity 565 2,758 4,763 (27) --- ------ ------ ------ TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY $565 $18,123 $96,661 $ 312 === ====== ====== ======
Exhibit C Organizational Chart - Response 4 (b) (i) BHILAI --------------------------------------------------------------- PSEG --------------------------------------------------------------- | 100% | --------------------------------------------------------------- Energy Holdings --------------------------------------------------------------- | 100% | --------------------------------------------------------------- PSEG Global --------------------------------------------------------------- | 100% | --------------------------------------------------------------- PSEG Global USA --------------------------------------------------------------- | 100% | --------------------------------------------------------------- PSEG International, Inc. --------------------------------------------------------------- | 100% | --------------------------------------------------------------- PSEG (Bermuda) Holdings II, Ltd. --------------------------------------------------------------- | 100% | --------------------------------------------------------------- PSEG Bhilai Energy Company Ltd. --------------------------------------------------------------- | 45% | --------------------------------------------------------------- Bhilai Power Supply Company Limited --------------------------------------------------------------- Exhibit C Organizational Chart - Response 4 (b) (ii) CTSN --------------------------------------------------------------- PSEG --------------------------------------------------------------- | 100% | --------------------------------------------------------------- Energy Holdings --------------------------------------------------------------- | 100% | --------------------------------------------------------------- PSEG Global --------------------------------------------------------------- | 100% | --------------------------------------------------------------- PSEG Global USA --------------------------------------------------------------- | 100% | -------------------------------- ------- CEMAS -------- | -------------------------------- | | | ASNI 4.95% | | | | | | | | 62.74% | 18.63% | | | | | -------------------------------- | ------- ISN ------- -------------------------------- | 88% | --------------------------------------------------------------- CTSN --------------------------------------------------------------- Exhibit C Organizational Chart - Response 4 (b) (iii) CUPPI --------------------------------------------------------------- PSEG --------------------------------------------------------------- | 100% | --------------------------------------------------------------- Energy Holdings --------------------------------------------------------------- | 100% | --------------------------------------------------------------- PSEG Global --------------------------------------------------------------- | 100% | --------------------------------------------------------------- PSEG Global Holding Company --------------------------------------------------------------- | 100% | --------------------------------------------------------------- PSEG Global International Holdings LLC --------------------------------------------------------------- | 100% | --------------------------------------------------------------- PSEG Americas Ltd. --------------------------------------------------------------- | 100% | --------------------------------------------------------------- PSEG China Inc. --------------------------------------------------------------- | 50% | --------------------------------------------------------------- Meiya Power Company Limited --------------------------------------------------------------- | 100% | --------------------------------------------------------------- CUPPI --------------------------------------------------------------- | 30% | --------------------------------------------------------------- Jingyuan --------------------------------------------------------------- Exhibit C Organizational Chart - Response 4 (b) (iv) ZHL --------------------------------------------------------------- PSEG --------------------------------------------------------------- | 100% | --------------------------------------------------------------- Energy Holdings --------------------------------------------------------------- | 100% | --------------------------------------------------------------- PSEG Global --------------------------------------------------------------- | 100% | --------------------------------------------------------------- PSEG Global Holding Company --------------------------------------------------------------- | 100% | --------------------------------------------------------------- PSEG Global International Holdings LLC --------------------------------------------------------------- | 100% | --------------------------------------------------------------- PSEG Americas Ltd. --------------------------------------------------------------- | 100% | --------------------------------------------------------------- PSEG China Inc. --------------------------------------------------------------- | 50% | --------------------------------------------------------------- Meiya Power Company Limited --------------------------------------------------------------- | 100% | --------------------------------------------------------------- ZHL --------------------------------------------------------------- | 60% | --------------------------------------------------------------- GZMHCL --------------------------------------------------------------- Exhibit C Organizational Chart - Response 4 (b) (v) TMC --------------------------------------------------------------- PSEG --------------------------------------------------------------- | 100% | --------------------------------------------------------------- Energy Holdings --------------------------------------------------------------- | 100% | --------------------------------------------------------------- PSEG Global --------------------------------------------------------------- | 100% | --------------------------------------------------------------- PSEG Global Holding Company --------------------------------------------------------------- | 100% | --------------------------------------------------------------- PSEG International Holdings LLC --------------------------------------------------------------- | 100% | --------------------------------------------------------------- PSEG Americas Ltd. --------------------------------------------------------------- | 100% | --------------------------------------------------------------- PSEG China Inc. --------------------------------------------------------------- | 50% | --------------------------------------------------------------- Meiya Power Company Limited --------------------------------------------------------------- | 100% | --------------------------------------------------------------- TMC --------------------------------------------------------------- | 80% | --------------------------------------------------------------- TMCC --------------------------------------------------------------- Exhibit C Organizational Chart - Response 4 (b) (vi) RGE
--------------------------------------------------------------- PSEG --------------------------------------------------------------- | 100% | --------------------------------------------------------------- Energy Holdings --------------------------------------------------------------- | 100% | --------------------------------------------------------------- PSEG Global --------------------------------------------------------------- | 100% | --------------------------------------------------------------- PSEG Global Holding Company --------------------------------------------------------------- | 100% | --------------------------------------------------------------- PSEG Global International Holdings LLC --------------------------------------------------------------- | 100% | --------------------------------------------------------------- PSEG Americas, Ltd. --------------------------------------------------------------- | 100% | --------------------------------------------------------------- PSEG Brazil Investment Company --------------------------------------------------------------- | 100% | --------------------------------------------------------------- Pampa Energia Ltda. --------------------------------------------------------------- | 100% | 100% -------------------------------------------- | | | | ----------------- --------------------------- --------------------------- 99.91% Conversora de PSEG Brazil Company PSEG Brazil I Company -------------- Fertilizante --------------------------- --------------------------- Energia do Parana | | | | ----------------- | | | | 50% | | -------------------------------------------- ------------------------ | | 50% | 50% PSEG Particiapacoes S.A. | | --------------------------- ------------------------ | | IPE Energia S.A. | | | --------------------------- | | | | | | | | 32.62% | | 0.09% | --------------------------- | 0.3% | | Rio Grande Energia S.A. | | | --------------------------- | | | | | | | | 99.7% | | | | ------------------------- | | | ---------- Sulgeradora Participacoes ----- | | ------------------------- | | | --------------------------------------------------------------------------------------------
Exhibit C Organizational Chart - Response 4 (b) (vii), (viii) EDEN, EDES --------------------------------------------------------------- PSEG --------------------------------------------------------------- | 100% | --------------------------------------------------------------- Energy Holdings --------------------------------------------------------------- | 100% | --------------------------------------------------------------- PSEG Global --------------------------------------------------------------- | 100% | --------------------------------------------------------------- PSEG Global Holding Company --------------------------------------------------------------- | 100% | --------------------------------------------------------------- PSEG International Holdings LLC --------------------------------------------------------------- | 100% | --------------------------------------------------------------- PSEG Americas Ltd. --------------------------------------------------------------- | 90% | --------------------------------------------------------------- PSEG Americas Operating Company --------------------------------------------------------------- | 99.99% | --------------------------------------------------------------- PSEG Operating Argentina S.A. --------------------------------------------------------------- | | -------------------------- | | 33.34% | | 33.34% ------------- ------------- EDEN EDES ------------- ------------- Exhibit C Organizational Chart - Response 4 (b) (ix) TGM --------------------------------------------------------------- PSEG --------------------------------------------------------------- | 100% | --------------------------------------------------------------- Energy Holdings --------------------------------------------------------------- | 100% | --------------------------------------------------------------- PSEG Global --------------------------------------------------------------- | 100% | --------------------------------------------------------------- PSEG Global Holding Company --------------------------------------------------------------- | 100% | --------------------------------------------------------------- PSEG Global International Holdings LLC --------------------------------------------------------------- | 100% | --------------------------------------------------------------- PSEG Americas Ltd. --------------------------------------------------------------- | 100% | --------------------------------------------------------------- PSEG Americas II, Ltd. --------------------------------------------------------------- | 50% | --------------------------------------------------------------- TGV --------------------------------------------------------------- | 17.13% | --------------------------------------------------------------- TGM --------------------------------------------------------------- Exhibit C Organizational Chart - Response 4 (b) (x) EDELAP 100% --------------------------------------------------------------- PSEG --------------------------------------------------------------- | 100% | --------------------------------------------------------------- Energy Holdings --------------------------------------------------------------- | 100% | --------------------------------------------------------------- PSEG Global --------------------------------------------------------------- | -------------------------------------------------------- | | 100% 100% ------------------------------------- ----------------------------------- PSEG Global Holding Company PSEG Global USA ------------------------------------- ----------------------------------- 100% | | 100% ------------------------------------- ----------------------------------- PSEG Global International Holdings LLC PSEG International, Inc. ------------------------------------- ----------------------------------- 100% | | 100% ---------------------- ---------------------- PSEG Americas Ltd. PSEG Americas, Inc. ---------------------- ---------------------- | | | --------------------------- 100% | 100% | | 33.33% ----------------------- ----------------------- ----------------------- Wildwood I Ltd. La Plata I La Plata II ----------------------- ----------------------- ----------------------- | | | | 33.33% | | 1% | ----------------------- | | La Plata Partners LP ----------- | ----------------------- | | | 100% | | ----------------------- | La Plata Holdings Inc. | ----------------------- 33.33% | Cl. B comm | | | | 100% | Cl. A Prf'd | ----------------------- |-------------- Camille Ltd. -------------------- ----------------------- | | | | | ----------------------- | | | | 100% | | 40% | ---------------------- 60% ---------------------- | Luz de la Plata S.A. ---- COINELEC | 7.058% CI. B ---------------------- /---------------------- | | / | | 31.942% CI. B | / | 51% CI. A | ---------------------- / ---------------------- | EDELAP 51% /CI. A Central Dique | ----------------------/ ---------------------- | | 7.058% CI. B | | | --------------------------------------------
Exhibit C Organizational Chart - Response 4 (b) (xi),(xii),(xiii) CAGUA, MARACAY, VALENCIA
--------------------------------------------------------------- PSEG --------------------------------------------------------------- | 100% | --------------------------------------------------------------- Energy Holdings --------------------------------------------------------------- | 100% | --------------------------------------------------------------- PSEG Global --------------------------------------------------------------- | 100% | --------------------------------------------------------------- PSEG Global Holding Company --------------------------------------------------------------- | 100% | --------------------------------------------------------------- PSEG Global International Holdings LLC --------------------------------------------------------------- | 100% | --------------------------------------------------------------- PSEG Americas Ltd. --------------------------------------------------------------- | 100% | --------------------------------------------------------------- Venergy Holdings Company --------------------------------------------------------------- | 50% | --------------------------------------------------------------- Turboven Company --------------------------------------------------------------- | | -------------------------------------------------------------------------------------- | | | | 100% | 100% | 100% | | 100% ---------------------- ------------------------ ------------------------- ---------------------------- Turboven Cagua Company Turboven Maracay Company Turboven Valencia Company Turboven La Victoria Company ---------------------- ------------------------ ------------------------- ----------------------------
Exhibit C Organizational Chart - Response 4 (b) (xiv), (xv) PPN Energy, PPN Operations --------------------------------------------------------------- PSEG --------------------------------------------------------------- | 100% | --------------------------------------------------------------- Energy Holdings --------------------------------------------------------------- | 100% | --------------------------------------------------------------- PSEG Global --------------------------------------------------------------- | 100% | --------------------------------------------------------------- PSEG Global Holding Company --------------------------------------------------------------- | 100% | --------------------------------------------------------------- PSEG Global International Holdings LLC --------------------------------------------------------------- | | 100% --------------------------------------- PSEG Americas Ltd. --------------------------------------- | | 100% --------------------------------------- PSEG India Company --------------------------------------- | | 100% --------------------------------------- PSEG EAMS Ltd. --------------------------------------- | +--------------------------------------+ | | 100% | | 100% --------------------------------- --------------------------------------- -- PSEG Operations Ltd. PSEG PPN Energy Company Ltd. | --------------------------------- --------------------------------------- | | | | 100% | | 20% | --------------------------------- --------------------------------------- | PSEG PPN Operations Private Ltd. PPN Power Generating Company Limited | --------------------------------- --------------------------------------- | | --------------------------------- -- GMR PSEG Operations Private Ltd. --------------------------------- Exhibit C Organizational Chart - Response 4 (b) (xvi) CARTHAGE --------------------------------------------------------------- PSEG --------------------------------------------------------------- | 100% | --------------------------------------------------------------- Energy Holdings --------------------------------------------------------------- | 100% | --------------------------------------------------------------- PSEG Global --------------------------------------------------------------- | 100% | --------------------------------------------------------------- PSEG Global Holding Company --------------------------------------------------------------- | 100% | --------------------------------------------------------------- PSEG Global International Holdings LLC --------------------------------------------------------------- | 100% | --------------------------------------------------------------- PSEG Americas Ltd. --------------------------------------------------------------- | | 100% --------------------------------------------------------------- PSEG International Holding Company --------------------------------------------------------------- | | 100% --------------------------------------------------------------- PSEG International Holding II Company --------------------------------------------------------------- | 100% | --------------------------------------------------------------- PSEG International Ltd. --------------------------------------------------------------- | 60% | --------------------------------------------------------------- Carthage Power Company Sarl --------------------------------------------------------------- Exhibit C Organizational Chart - Response 4 (b) (xvii) TRI-SAKTHI --------------------------------------------------------------- PSEG --------------------------------------------------------------- | 100% | --------------------------------------------------------------- Energy Holdings --------------------------------------------------------------- | 100% | --------------------------------------------------------------- PSEG Global --------------------------------------------------------------- | 100% | --------------------------------------------------------------- PSEG Global Holding Company --------------------------------------------------------------- | 100% | --------------------------------------------------------------- PSEG Global International Holdings LLC --------------------------------------------------------------- | 100% | --------------------------------------------------------------- PSEG Americas Ltd. --------------------------------------------------------------- | 100% | --------------------------------------------------------------- PSEG (Bermuda) Holdings III Ltd. --------------------------------------------------------------- | 100% | --------------------------------------------------------------- PSEG India Ltd. --------------------------------------------------------------- | 100% | --------------------------------------------------------------- +------- PSEG North Chennai Ltd. | --------------------------------------------------------------- | | 26% | | | --------------------------------------------------------------- 50% Tri-Sakthi Investments Limited | --------------------------------------------------------------- | | 50% | | | --------------------------------------------------------------- +------- Tri-Sakthi Energy Private Limited --------------------------------------------------------------- Exhibit C Organizational Chart - Response 4 (b) (xviii), (xix), (xx) Guadalupe, Archer, Odessa
--------------------------------------------------------------- PSEG --------------------------------------------------------------- | 100% | --------------------------------------------------------------- Energy Holdings --------------------------------------------------------------- | 100% | --------------------------------------------------------------- PSEG Global --------------------------------------------------------------- | 100% | --------------------------------------------------------------- PSEG Global USA --------------------------------------------------------------- | 100% | --------------------------------------------------------------- PSEG International Inc. --------------------------------------------------------------- | 100% | --------------------------------------------------------------- PSEG Americas Inc. --------------------------------------------------------------- | 100% | --------------------------------------------------------------- PSEG Texgen Holdings Inc. --------------------------------------------------------------- | | +--------------------------------------+ | | 100% | | 100% ----------------------------- ---------------------------------- PSEG Texgen I Inc. PSEG Texgen II Inc. ----------------------------- ---------------------------------- 0.5% | | 49.5% | | +--------------------------------------+ | | --------------------------------------- Texas Independent Energy LP --------------------------------------- | | ---------------------------------------------------------------------------------------------------------------------------- | | | | | | | | | | ------------------------ -------------------------- ---------------------- ---------------------- ---------------------------- Guadalupe Power I, LLC Guadalupe Power II, LLC Archer Power I, LLC Archer Power II, LLC Odessa-Ector Odessa-Ector Power I, LLC Power II, LLC ------------------------ -------------------------- ---------------------- ---------------------- ---------------------------- | | | | | | 1% GP | | 1% GP | | 1% GP | 99% LP | -------------------------------------- ------------------------------------ ------------------------------- Guadalupe Power Partners, LP 99% LP Archer Power Partners, LP 99% LP Odessa-Ector Power Partners, LP ---------------------------- ------------------------- -------------------------------
Exhibit C Organizational Chart - Response 4 (b) (xxi), (xxii) Chilquinta, Luz del Sur
----------------------------- PSEG ----------------------------- | 100% | ----------------------------- Energy Holdings ----------------------------- | 100% | ----------------------------- PSEG Global ----------------------------- | 100% | ----------------------------- PSEG Global USA ----------------------------- | 100% | ----------------------------- PSEG International Inc. ----------------------------- | 100% | ----------------------------- PSEG Americas Inc. ----------------------------- | 100% | ------------------------------------- PSEG Americas Ltd. +---------------------------------------------+ ------------------------------------- | | | 50%| | 50% | ------------------------------ --------------- ------+--------- PSEG Cayman Equity I Company +-----| |--------------------+ Sempra +----+ Peruvian (Cayman) / 50% --------------- Opportunity Co. ------------------------------ / + S.A. | / / -------+-------- | 100% / / | 99% ------------------------------ / / | +------+ Sempra/PSEG Inversiones / / | | (Chile) + +-----------+ | | ------------------------------ / | -----+------ | 100% / | Tecnored | / | -----+------ | / | | ------------------------------ / | | Chilquinta Energia 41.97% / | | ------------------------------ / | | | 100% / | | | / --------------------- | 1% | ------------------------------ / Peru Privatization | +------+Chilquinta International A.V.V.--------+ / & | ------------------------------ | / / Development Fund | | 100% | / / (PPF) | | |55.29% / / --------------------- | ------------------------------ | / / | +------+ Energy Business | / /2.74% 22.4% | | ------------------------------ | / / +--------------------+ | | / / / | ---+-----------+-------+------ / | Ontario Quinta / | ------------------------------ / | | / | | / ----------------------------------- | +-+ |60% / +-------+ Shareholders Trading on the Bolsa | 1.9% / | | / / ----------------------------------- | / | | / / 11.95% | 3.7% --+----+--------------------+- / +------------------------------------------+ Luz del Sur +----+ ------------------------------
Exhibit C Organizational Chart - Response 4 (b) (xxiii) AES Parana
--------------------------------------------------------------- PSEG --------------------------------------------------------------- | 100% | --------------------------------------------------------------- Energy Holdings --------------------------------------------------------------- | 100% | --------------------------------------------------------------- PSEG Global --------------------------------------------------------------- | 100% | --------------------------------------------------------------- PSEG Global Holding Company --------------------------------------------------------------- | 100% | --------------------------------------------------------------- PSEG Global International Holdings LLC --------------------------------------------------------------- | 100% | --------------------------------------------------------------- PSEG Americas Ltd. --------------------------------------------------------------- | 100% | --------------------------------------------------------------- PSEG Cayman Americas Co. --------------------------------------------------------------- | 100% | --------------------------------------------------------------- PSEG Cayman Americas V Co. --------------------------------------------------------------- | | +-------------------------+------------------------------------------------------------------------------------------------ | | | | | 33.33% | 33.33% | 33.268% | 33.33% | | 33.33% --------------------- ----------------------- ------------------------------ --------------------- -------------------------- Shazia S.R.L. AES Parana S.C.A. AES Parana Operations S.R.L. AES Parana Gas S.A. AES Parana Propiedades S.A --------------------- ----------------------- ------------------------------ --------------------- --------------------------
Exhibit C Organizational Chart - Response 4 (b) (xxiv)(xxxi)(xlvi)(xlvii) PSEG Fossil LLC, Power New York, Lawrenceburg, Waterford --------------------------------------------------------------- PSEG --------------------------------------------------------------- | 100% | --------------------------------------------------------------- PSEG Power LLC --------------------------------------------------------------- | 100% | --------------------------------------------------------------- PSEG Fossil LLC --------------------------------------------------------------- 100% | 100% 100% |-------------------------------------------------------------------| | | | | --------------------------------------------------------------- | ------------ Power New York ------------ Waterford Lawrenceburg ------------ ------------ --------------------------------------------------------------- Exhibit C Organizational Chart - Response 4 (xxv) PSEG Nuclear LLC --------------------------------------------------------------- PSEG --------------------------------------------------------------- | 100% | --------------------------------------------------------------- PSEG Power LLC --------------------------------------------------------------- | 100% | --------------------------------------------------------------- PSEG Nuclear LLC --------------------------------------------------------------- Exhibit C Organizational Chart - Response 4 (b) (xxvi) PSEG CHORZOW B.V.
--------------------------------------------------------------- Public Service Enterprise Group Incorporated (New Jersey) --------------------------------------------------------------- | | --------------------------------------------------------------- PSEG Energy Holdings Inc. (New Jersey) --------------------------------------------------------------- | | --------------------------------------------------------------- PSEG Global Inc. (New Jersey) --------------------------------------------------------------- | |-------------------------------------------------------- | | --------------------------------------------------------------- --------------------------------------- PSEG Global Holding Company PSEG Global USA Inc. (Cayman) (New Jersey) --------------------------------------------------------------- --------------------------------------- | | | | --------------------------------------------------------------- --------------------------------------- PSEG Europe (Delaware) Inc. PSEG International Inc. (Delaware) (Delaware) --------------------------------------------------------------- --------------------------------------- | | | | --------------------------------------------------------------- --------------------------------------- PSEG Europe B.V. PSEG Europe Ltd. (Netherlands) (U.K.) --------------------------------------------------------------- --------------------------------------- | | | | --------------------------------------------------------------- --------------------------------------- PSEG Silesia B.V. PSEG Technical Services Ltd. (Netherlands) (U.K.) --------------------------------------------------------------- --------------------------------------- | | --------------------------------------------------------------- PSEG Chorzow B.V. (Netherlands) --------------------------------------------------------------- | | 54.17% --------------------------------------------------------------- Elektrocieplownia Chorzow Elcho S.z.o.o. (Poland) ---------------------------------------------------------------
Exhibit C Organizational Chart - Response 4 (b) (xxvii) PSEG Rongjiang Hydropower Ltd. --------------------------------------------------------------- Public Service Enterprise Group Incorporated (New Jersey) --------------------------------------------------------------- | | --------------------------------------------------------------- PSEG Energy Holdings Inc. (New Jersey) --------------------------------------------------------------- | | --------------------------------------------------------------- PSEG Global Inc. (New Jersey) --------------------------------------------------------------- | | --------------------------------------------------------------- PSEG Global Holding Company (Cayman) --------------------------------------------------------------- | | --------------------------------------------------------------- PSEG Global International Holdings LLC (Delaware) --------------------------------------------------------------- | | --------------------------------------------------------------- PSEG Americas Ltd. (Bermuda) --------------------------------------------------------------- | | --------------------------------------------------------------- PSEG China Inc. (Delaware) --------------------------------------------------------------- | | 50% --------------------------------------------------------------- Meiya Power Company Limited (Bermuda) --------------------------------------------------------------- | | --------------------------------------------------------------- PSEG Rongjiang Hydropower Ltd. (Mauritius) --------------------------------------------------------------- | --------------------------------------------------------------- | | | 55% 80% | ------------------- -------------------- Guangxi Rongjiang Guangxi Rongjiang Meiya Company Ltd. Meiya Hydropower (PRC) Company Ltd. ------------------- (PRC) -------------------- Exhibit C Organizational Chart - Response 4 (b) (xxviii) Kalaeloa Partners, LP
-------------------------------------------- Public Service Enterprise Group Incorporated (New Jersey) -------------------------------------------- | | -------------------------------------------- PSEG Energy Holdings Inc. (New Jersey) -------------------------------------------- | | -------------------------------------------- PSEG Global Inc. (New Jersey) -------------------------------------------- | | -------------------------------------------- PSEG Global USA Inc. (New Jersey) -------------------------------------------- | | ------------------------------------------------------------------------------------ | | | --------------------------- ----------------------------- ----------------------------- PSEG Kalaeloa Inc. PSEG Hawaiian Management Inc. PSEG Hawaiian Investment Inc. (Delaware) (Delaware) (Delaware) --------------------------- ----------------------------- ----------------------------- | | 48.49% | | | 1% GP --------------------------- LP --- | | | | | --------------------------- 1% GP Kalaeloa Investment | Partners, LP | (Delaware) | --------------------------- | | | | 99% LP | --------------------------- | Kalaeloa -------------------------------- Partners, LP (Delaware) ---------------------------
Exhibit C Organizational Chart - Response 4 (b) (xxix) Meiya Electric Asia Ltd. --------------------------------------------------------------- Public Service Enterprise Group Incorporated (New Jersey) --------------------------------------------------------------- | | --------------------------------------------------------------- PSEG Energy Holdings Inc. (New Jersey) --------------------------------------------------------------- | | --------------------------------------------------------------- PSEG Global Inc. (New Jersey) --------------------------------------------------------------- | | --------------------------------------------------------------- PSEG Global Holding Company (Cayman) --------------------------------------------------------------- | | --------------------------------------------------------------- PSEG Global International Holdings LLC (Delaware) --------------------------------------------------------------- | | --------------------------------------------------------------- PSEG Americas Ltd. (Bermuda) --------------------------------------------------------------- | | --------------------------------------------------------------- PSEG China Inc. (Delaware) --------------------------------------------------------------- | | 50% --------------------------------------------------------------- Meiya Power Company Limited (Bermuda) --------------------------------------------------------------- | | --------------------------------------------------------------- Meiya Power China Holdings Ltd. (Caymans) --------------------------------------------------------------- | | --------------------------------------------------------------- Meiya Power International Holdings I, Ltd. (Caymans) --------------------------------------------------------------- | | --------------------------------------------------------------- Meiya Electric Asia, Ltd. (Mauritius) --------------------------------------------------------------- | | 92% --------------------------------------------------------------- Nantong Entergy Heat & Power Company Ltd. (China) --------------------------------------------------------------- Exhibit C Organizational Chart - Response 4 (b) (xxx) Shanghai Wei-Gang Energy Company Ltd. --------------------------------------------------------------- Public Service Enterprise Group Incorporated (New Jersey) --------------------------------------------------------------- | | --------------------------------------------------------------- PSEG Energy Holdings Inc. (New Jersey) --------------------------------------------------------------- | | --------------------------------------------------------------- PSEG Global Inc. (New Jersey) --------------------------------------------------------------- | | --------------------------------------------------------------- PSEG Global Holding Company (Cayman) --------------------------------------------------------------- | | --------------------------------------------------------------- PSEG Global International Holdings LLC (Delaware) --------------------------------------------------------------- | | --------------------------------------------------------------- PSEG Americas Ltd. (Bermuda) --------------------------------------------------------------- | | --------------------------------------------------------------- PSEG China Inc. (Delaware) --------------------------------------------------------------- | | 50% --------------------------------------------------------------- Meiya Power Company Limited (Bermuda) --------------------------------------------------------------- | | --------------------------------------------------------------- PSEG Shanghai BFG Company (Cayman) --------------------------------------------------------------- | | 50% --------------------------------------------------------------- CanAm Energy China Holdings, LLC (Delaware) --------------------------------------------------------------- | | 65% --------------------------------------------------------------- Shanghai Wei-Gang Energy Company Ltd. (China) --------------------------------------------------------------- Exhibit C Organizational Chart - Response 4 (b) (xxxii) GWF ENERGY LLC --------------------------------------------------------------- PSEG Global Inc. (New Jersey) --------------------------------------------------------------- | | --------------------------------------------------------------- PSEG Global USA Inc. (New Jersey) --------------------------------------------------------------- | | --------------------------------------------------------------- PSEG International Inc. (Delaware) --------------------------------------------------------------- | | --------------------------------------------------------------- PSEG California Corp. (Delaware) --------------------------------------------------------------- | 50% | --------------------------------------------------------------- GWF Energy LLC (Delaware) --------------------------------------------------------------- Exhibit C Organizational Chart - Response 4 (b) (xxxiv) Tanir Bavi
--------------------------------------------------------------- PSEG Global Inc. (New Jersey) --------------------------------------------------------------- | 100% | --------------------------------------------------------------- PSEG Global Holding Company (Cayman) --------------------------------------------------------------- | 100% | --------------------------------------------------------------- PSEG Global International Holdings LLC (Delaware) --------------------------------------------------------------- | 100% | --------------------------------------------------------------- PSEG Americas Ltd. (Bermuda) --------------------------------------------------------------- | 100% | --------------------------------------------------------------- PSEG (Bermuda) Holdings III Ltd. (Bermuda) --------------------------------------------------------------- | 100% | --------------------------------------------------------------- PSEG India Ltd. (Mauritius) --------------------------------------------------------------- | | 100% |---------------------------------------------------61%-- | | --------------------------------------------------------------- --------------------------------------- PSEG Tanir Bavi Energy Company Ltd. Alterio Mauritius Co. Ltd. (Mauritius) (Mauritius) --------------------------------------------------------------- --------------------------------------- | | | | ---- 49% --------------------------------- 40.99% -------- | | ---------------------------------------- Tanir Bavi Power Copmany Private Limited (India) ---------------------------------------
Exhibit C Organizational Chart - Response 4 (b) (xxxv) Texas Independent Energy
--------------------------- PSEG Global Inc. (New Jersey) --------------------------- | 100% | --------------------------- PSEG Global USA Inc. (New Jersey) --------------------------- | 100% | --------------------------- PSEG International Inc. (Delaware) --------------------------- | 100% | --------------------------- PSEG Americas Inc. (Delaware) --------------------------- | 100% | --------------------------- PSEG Texgen Holdings Inc. (Delaware) --------------------------- | | --- 100% --------------- 100% --- | | | ------------------ | ------------------- PSEG Texgen I Inc. PSEG Texgen II Inc. (Delaware) (Delaware) ------------------ ------------------- | | | | --0.8% GP---------------49.5% LP-- | | ------------------------------- Texas Independent Energy, L.P. (Delaware) ------------------------------- | | | | ------------------------------------------------------------------------------------------------------------------------- | | | | | | | | | | | | | | ------------ ------------- -------------- -------------- ------------- --------------- ------------ Guadalupe Guadalupe Archer Archer Odessa-Eclor Odessa-Eclor Texas Power I, LLC Power II, LLC Power I, LLC Power II, LLC Power I, LLC Power II, LLC ----- Independent (Delaware) (Delaware) (Delaware) (Delaware) (Delaware) (Delaware) | Energy | Company, LLC | (Delaware) ------------ -------------- -------------- -------------- ------------| --------------- | ------------ | | | | | | | | | | | | | | | | --1% GP ----99% LP - --1% GP ----99% LP-- 1% GP | 99% LP | | | | 1% | | | | | | | | ----------------------- ----------------------- ------------------ |--------------- | Guadalupe Power Archer Power Odessa-Eclor Odessa-Eclor | Partners, LP Partners, LP Power Partners, LP Power Partners | (Delaware) (Delaware) (Delaware) Services, LP | (Delaware) | ----------------------- ----------------------- ------------------ ---------------- | | | | | | 98% LP | | ----------------------------------
Exhibit C Organizational Chart - Response 4 (b) (xxxvi) EDEERSA --------------------------------------------------- Public Service Enterprise Group Incorporated (New Jersey) --------------------------------------------------- | | --------------------------------------------------- PSEG Energy Holdings Inc. (New Jersey) --------------------------------------------------- | | --------------------------------------------------- PSEG Global Inc. (New Jersey) --------------------------------------------------- | | --------------------------------------------------- PSEG Global Holdings Company (Cayman) --------------------------------------------------- | | --------------------------------------------------- PSEG Global International Holdings LLC (Delaware) --------------------------------------------------- | | --------------------------------------------------- ---------- PSEG Americas Ltd. | (Bermuda) | --------------------------------------------------- | | | 49% | | | --------------------------------------------------- | Compania de Inversiones en Energia Electrica S.A. 19% (Argentina) | --------------------------------------------------- | | | 59.5% | | | | | --------------------------------------------------- ---------- Inversora en Distribucion de Entre Rios (Argentina) --------------------------------------------------- | 90% | | -------------------------------------------------------- Empresa Distribuidora De Electricidad De Entre Rios S.A. (Argentina) -------------------------------------------------------- Organization Chart - Response 4 (xxxviii) (xxxix) (xl) (xli) Danskammer OP, Danskammer OL, Roseton OP, Roseton OL --------------------------------------------------------------- PSEG RESOURCES INC. --------------------------------------------------------------- | | --------------------------------------------------------------- RESOURCES CAPITAL MANAGEMENT CORPORATION --------------------------------------------------------------- | | --------------------------------------------------------------- PSEGR NEWBURGH HOLDINGS LLC --------------------------------------------------------------- | | --------------------------------------------------------------- | | | | ----------------------- ------------------- DANSKAMMER OP LLC ROSETON OP LLC EWG EWG ----------------------- ------------------- | | | | ----------------------- ------------------- DANSKAMMER OL LLC ROSETON OL LLC EWG EWG ----------------------- ------------------- Organization Chart - Response 4 (xlii) (xliii) (xliv) Conemaugh Lessor, Keystone Lessor Shawville Lessor
--------------------------------------------------------------- PSEG Resources Inc. --------------------------------------------------------------- | | --------------------------------------------------------------- PSEGR PJM, LLC --------------------------------------------------------------- | | ------------------------------------------------------------------------------------------------------------ | | | | | | ----------------------------------- ------------------------------- ----------------------------------- PSEGR Conemaugh, LLC PSEGR Keystone, LLC PSEGR Shawville, LLC ----------------------------------- ------------------------------- ----------------------------------- | | | | | | ----------------------------------- ------------------------------- ----------------------------------- PSEGR Conemaugh Generation, LLC PSEGR Keystone Generation, LLC PSEGR Shawville Generation, LLC ----------------------------------- ------------------------------- ----------------------------------- | | | | | | ----------------------------------- ------------------------------- ----------------------------------- Conemaugh Lessor Genco LLC Keystone Lessor Genco LLC Shawville Lessor Genco LLC EWG EWG EWG ----------------------------------- ------------------------------- -----------------------------------