35-CERT 1 a2088439z35-cert.txt 35-CERT UNITED STATES OF AMERICA SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ) The AES Corporation ) File No. 70-9465 ) Certificate Pursuant to Rule 24 and Release No. 35-27063 Under the Public Utility Holding Company Act of 1935 On August 20, 1999, the Securities and Exchange Commission ("SEC") issued an order, Release No. 35-27063 in File No. 70-9465 ("Exemption Order"), granting an exemption under Section 3(a) of the Public Utility Holding Company Act of 1935, as amended, to The AES Corporation ("AES") in relation to its proposed acquisition of CILCORP Inc. ("CILCORP"), which has a public-utility subsidiary company, Central Illinois Light Company ("CILCO"). The Exemption Order required AES to file certain certificates (as described in the Exemption Order) under Rule 24 within 60 days of the close of each calendar quarter for a period of three years beginning September 30, 1999 and every six months thereafter. A certificate complying with the Exemption Order is set forth below (as an attachment) for the period ending June 30, 2002. AES is separately filing a certificate in File No. 70-9779 as required by the Commission's order in Release No. 35-27363 in connection with the AES acquisition of IPALCO Enterprises, Inc. ("IPALCO"), which has a public-utility subsidiary company, Indianapolis Power & Light Company ("IPL"). Respectfully submitted, /s/ Earle H. O'Donnell Earle H. O'Donnell Andrew B. Young Hugh E. Hilliard Dewey Ballantine LLP 1775 Pennsylvania Avenue, N.W. Washington, D.C. 20006 Dated: August 29, 2002 THE AES CORPORATION SEC FILING PURSUANT TO SECTION 3(a)(5) EXEMPTION ORDER QUARTER ENDED JUNE 30, 2002 ITEM (1) PER EXEMPTION ORDER (STATEMENTS ATTACHED): 1) Statement of Income of The AES Corporation for the 12 months ended June 30, 2002 a) 12 months ended June 30, 2002 GAAP consolidated income statement b) 12 months ended June 30, 2002 pro rata consolidated income statement 2) Balance Sheet of The AES Corporation at June 30, 2002 a) GAAP Basis Consolidated Balance Sheet b) Pro Rata Consolidated Balance Sheet 3) Statement of Income of CILCORP for the 12 months ended June 30, 2002 4) Statement of Income of CILCO for the 12 months ended June 30, 2002 5) Consolidated Balance Sheet of CILCORP at June 30, 2002 6) Consolidated Balance Sheet of CILCO at June 30, 2002 2 THE AES CORPORATION CONSOLIDATED STATEMENT OF OPERATIONS (INCLUDES CILCORP AND IPALCO) FOR THE TWELVE MONTHS ENDED JUNE 30, 2002 GAAP BASIS (UNAUDITED)
---------------------------------------------------------------------------------------- TWELVE MONTHS ENDED ($ in millions) 6/30/2002 ---------------------------------------------------------------------------------------- REVENUES: Sales and services $ 8,191 OPERATING COSTS AND EXPENSES: Cost of sales and services 5,944 Selling, general and administrative expenses 120 --------------------- TOTAL OPERATING COSTS AND EXPENSES 6,064 -------------------- OPERATING INCOME 2,127 OTHER INCOME AND (EXPENSE): Interest expense, net (1,565) Other expense (58) Equity in earnings of affiliates (before income tax) 81 Nonrecurring severance and transaction costs (36) Loss on sale or write-down of investments (116) --------------------- INCOME BEFORE INCOME TAXES AND MINORITY INTEREST 433 Income tax provision 152 Minority interest 16 ---------------------- INCOME FROM CONTINUING OPERATIONS 265 Loss from operations of discontinued components (net of income taxes) (300) --------------------- INCOME (LOSS) BEFORE CUMULATIVE EFFECT OF ACCOUNTING CHANGE (35) Cumulative effect of accounting change (net of income taxes) (346) --------------------- NET INCOME (LOSS) $ (381) =====================
3 THE AES CORPORATION CONSOLIDATED STATEMENT OF OPERATIONS (INCLUDES CILCORP AND IPALCO) FOR THE TWELVE MONTHS ENDED JUNE 30, 2002 PRORATA BASIS (UNAUDITED)
---------------------------------------------------------------------------------------- TWELVE MONTHS ENDED ($ in millions) 6/30/2002 ---------------------------------------------------------------------------------------- REVENUES: Sales and services $ 8,875 OPERATING COSTS AND EXPENSES: Cost of sales and services 6,501 Selling, general and administrative expenses 120 ---------------- TOTAL OPERATING COSTS AND EXPENSES 6,621 ---------------- OPERATING INCOME 2,254 OTHER INCOME AND (EXPENSE): Interest expense, net (1,673) Other income 15 Nonrecurring severance and transaction costs (36) Loss on sale or write-down of investments (116) ----------------- INCOME BEFORE INCOME TAXES 444 Income tax provision 179 ---------------- INCOME FROM CONTINUING OPERATIONS 265 Loss from operations of discontinued components (net of income taxes) (300) ----------------- INCOME (LOSS) BEFORE CUMULATIVE EFFECT OF ACCOUNTING CHANGE (35) Cumulative effect of accounting change (net of income taxes) (346) ----------------- NET INCOME (LOSS) $ (381) ================
4 THE AES CORPORATION GAAP BASIS CONSOLIDATED BALANCE SHEET (INCLUDES CILCORP AND IPALCO) JUNE 30, 2002 ($ in millions, unaudited) ASSETS CURRENT ASSETS Cash and cash equivalents $ 1,028 Restricted cash 260 Short-term investments 328 Accounts receivable, net 1,485 Inventory 510 Receivable from affiliates 10 Deferred income taxes 294 Prepaid expenses and other current assets 909 Current assets of discontinued operations 581 ---------------- TOTAL CURRENT ASSETS 5,405 PROPERTY, PLANT AND EQUIPMENT Land 834 Electric generation and distribution assets 21,989 Accumulated depreciation and amortization (4,180) Construction in progress 4,984 ---------------- PROPERTY, PLANT AND EQUIPMENT, NET 23,627 OTHER ASSETS Deferred financing costs, net 423 Project development costs 52 Investments in and advances to affiliates 1,298 Debt service reserves and other deposits 390 Goodwill 2,262 Long-term assets of discontinued operations 2,244 Other assets 2,974 ---------------- TOTAL OTHER ASSETS 9,643 TOTAL $ 38,675 ---------------- ----------------
5 LIABILITIES & STOCKHOLDERS' EQUITY CURRENT LIABILITIES Accounts payable $ 1,258 Accrued interest 398 Accrued and other liabilities 1,270 Current liabilities of discontinued operations 697 Recourse debt---current portion 1,134 Non-recourse debt---current portion 3,201 ---------------- TOTAL CURRENT LIABILITIES 7,958 LONG-TERM LIABILITIES Non-recourse debt 14,579 Recourse debt 4,627 Deferred incomes taxes 1,649 Long-term liabilities of discontinued operations 1,282 Other long-term liabilities 3,139 ---------------- TOTAL LONG-TERM LIABILITIES 25,276 Minority interest 952 Company-obligated convertible mandatorily redeemable preferred securities of subsidiary trusts holding solely junior subordinated debentures of AES 978 STOCKHOLDERS' EQUITY Common stock 5 Additional paid-in capital 5,250 Retained earnings 2,381 Accumulated other comprehensive loss (4,125) ---------------- TOTAL STOCKHOLDERS' EQUITY 3,511 TOTAL $ 38,675 ---------------- ----------------
6 THE AES CORPORATION PRO RATA BASIS CONSOLIDATED BALANCE SHEET (INCLUDES CILCORP AND IPALCO) JUNE 30, 2002 ($ in millions, unaudited) ASSETS CURRENT ASSETS Cash and cash equivalents $1,022 Restricted cash 260 Short-term investments 256 Accounts receivable, net 1,240 Inventory 492 Receivable from affiliates 20 Deferred income taxes 24 Prepaid expenses and other current assets 804 Current assets of discontinued operations 576 ------- TOTAL CURRENT ASSETS 4,694 PROPERTY, PLANT AND EQUIPMENT Land 590 Electric generation and distribution assets 21,267 Accumulated depreciation and amortization (3,665) Construction in progress 4,808 ------- PROPERTY, PLANT AND EQUIPMENT, NET 23,000 OTHER ASSETS Deferred financing costs, net 395 Project development costs 53 Investments in and advances to affiliates 3,768 Debt service reserves and other deposits 378 Goodwill 1,704 Long-term assets of discontinued operations 2,361 Other assets 2,322 ------- TOTAL OTHER ASSETS 10,981 TOTAL $38,675 ------- -------
7 LIABILITIES & STOCKHOLDERS' EQUITY CURRENT LIABILITIES Accounts payable $ 967 Accrued interest 351 Accrued and other liabilities 329 Current liabilities of discontinued operations 837 Recourse debt--current portion 1,135 Non-recourse debt--current portion 2,134 ------- TOTAL CURRENT LIABILITIES 5,753 LONG-TERM LIABILITIES Non-recourse debt 13,500 Recourse debt 4,627 Deferred income taxes 1,612 Long-term liabilities of discontinued operations 1,282 Other long-term liabilities 4,676 ------- TOTAL LONG-TERM LIABILITIES 25,697 Minority interest 101 Company-obligated convertible mandatorily redeemable preferred securities of subsidiary trusts holding solely junior subordinated debentures of AES 978 STOCKHOLDERS' EQUITY Common stock 5 Additional paid-in capital 6,974 Retained earnings 2,381 Accumulated other comprehensive loss (3,214) ------- TOTAL STOCKHOLDERS' EQUITY 6,146 TOTAL $38,675 ------- -------
8 CILCORP CONSOLIDATED INCOME STATEMENT (UNAUDITED) Twelve Months Ended 6/30/2002 (In Thousands) Revenue: CILCO Electric $ 389,281 CILCO Gas 188,938 CILCO Other 107,769 Other Businesses 59,347 ------------ Total 745,335 ------------ Operating expenses: Fuel for generation and purchased power 220,389 Gas purchased for resale 156,398 Other operations and maintenance 125,150 Depreciation and amortization 79,150 Taxes, other than income taxes 38,908 ------------ Total 619,995 ------------ Fixed charges and other: Interest expense 66,972 Preferred stock dividends of subsidiary 2,159 Allowance for funds used during construction (621) Other 1,403 ------------ Total 69,913 ------------ Income from continuing operations before income taxes 55,427 Income taxes 21,862 ------------ Net income (loss) from continuing operations 33,565 Income (loss) from operations of discontinued business, net of taxes (4,392) ------------ Net income (loss) $ 29,173 ------------ ------------
9 CENTRAL ILLINOIS LIGHT COMPANY CONSOLIDATED STATEMENT OF INCOME (UNAUDITED) Twelve Months Ended June 30, 2002 (In Thousands) Operating Revenues: Electric $ 389,281 Gas 188,938 ----------- 578,219 ----------- Operating Expenses: Cost of Fuel 157,593 Cost of Gas 109,824 Purchased Power 48,829 Other Operation & Maintenance Expenses 119,130 Depreciation and Amortization 70,009 Income Taxes 4,698 Other Taxes 38,636 ----------- Total Operating Expenses 548,719 ----------- Operating Income 29,500 Other Income and Deductions CILCO Owned Life Insurance (1,403) Other, Net 6,801 ----------- Total other income and (deductions) 5,398 ----------- Interest Expenses: Interest on Long-Term Debt 17,775 Cost of Borrowed Funds Capitalized (621) Other 4,371 ----------- Total interest expense 21,525 ----------- Net (loss) Income Before Preferred Dividends 13,373 ----------- Preferred Stock Dividends 2,159 ----------- Net Income Available for Common Stock $ 11,214 ----------- -----------
10 CILCORP INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (UNAUDITED) As of June 30, 2002 ASSETS (In Thousands) Current Assets: Cash and Temporary Cash Investments $ 79,158 Receivables, Less Allowance for Uncollectible Accounts of $2,609 and $1,800 53,094 Accrued Unbilled Revenue 25,314 Fuel, at Average Cost 18,169 Materials and Supplies, at Average Cost 17,528 Gas in Underground Storage, at Average Cost 13,751 FAC Underrecoveries 1,255 PGA Underrecoveries 5,288 Prepayments and Other 11,150 --------- Total Current Assets 224,707 --------- Investments and Other Property: Investment in Leveraged Leases 134,718 Other Investments 18,220 ---------- Total Investments and Other Property 152,938 ---------- Property, Plant and Equipment: Utility Plant, at Original Cost Electric 724,593 Gas 238,520 ---------- 963,113 Less-Accumulated Provision for Depreciation 154,886 ---------- 808,227 Construction Work in Progress 77,244 Other, Net of Depreciation 22 ---------- Total Property, Plant and Equipment 885,493 ---------- Other Assets: Goodwill, Net of Accumulated Amortization of $33,753 579,211 Other 36,899 ----------- Total Other Assets 616,110 ---------- Total Assets $1,879,248 ---------- ----------
11 CILCORP INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (UNAUDITED) As of June 30, 2002 LIABILITIES AND STOCKHOLDERS' EQUITY (In Thousands) Current Liabilities: Current Portion of Long-Term Debt $ 26,750 Notes Payable 36,000 Accounts Payable 64,155 Accrued Taxes 13,385 Accrued Interest 17,444 Other 9,389 ---------- Total Current Liabilities 167,123 ---------- Long-Term Debt 792,404 ---------- Deferred Credits and Other Liabilities: Deferred Income Taxes 212,955 Regulatory Liability of Regulated Subsidiary 35,835 Deferred Investment Tax Credit 13,756 Other 89,796 ---------- Total Deferred Credits and Other Liabilities 352,342 ---------- Preferred Stock of Subsidiary without Mandatory Redemption 19,120 Preferred Stock of Subsidiary with Mandatory Redemption 22,000 ---------- Total Preferred Stock of Subsidiary 41,120 ---------- Stockholders' Equity: Common Stock, no par value; Authorized 10,000 Outstanding 1,000 -- Additional Paid-in Capital 518,833 Retained Earnings 16,428 Accumulated Other Comprehensive Income (Loss) (9,002) Total Stockholders' Equity 526,259 ---------- Total Liabilities and Stockholders' Equity $1,879,248 ---------- ----------
12 CENTRAL ILLINOIS LIGHT COMPANY CONSOLIDATED BALANCE SHEETS (UNAUDITED) As of June 30, 2002 (In Thousands) ASSETS Utility Plant, At Original Cost: Electric $1,333,967 Gas 462,407 ----------- 1,796,374 Less-Accumulated Provision for Depreciation 1,012,719 ----------- 783,655 Construction Work in Progress 77,244 ----------- Total Utility Plant 860,899 ----------- Other Property and Investments: Cash Surrender Value of Company-owned Life Insurance (Net of Related Policy Loans of $69,592 and $65,314) 3,541 Other 1,115 ----------- Total Other Property and Investments 4,656 ----------- Current Assets: Cash and Temporary Cash Investments 71,108 Receivables, Less Allowance for Uncollectible Accounts of $2,609 and $1,800 51,145 Accrued Unbilled Revenue 23,400 Fuel, at Average Cost 18,169 Materials and Supplies, at Average Cost 16,475 Gas in Underground Storage, at Average Cost 13,751 Prepaid Taxes 9,504 FAC Underrecoveries 1,255 PGA Underrecoveries 5,288 Other 11,120 ----------- Total Current Assets 221,215 ----------- Deferred Debits: Unamortized Loss on Reacquired Debt 2,327 Unamortized Debt Expense 1,746 Prepaid Pension Cost 168 Other 19,699 ----------- Total Deferred Debits 23,940 ----------- Total Assets $1,110,710 ----------- -----------
13 CENTRAL ILLINOIS LIGHT COMPANY CONSOLIDATED BALANCE SHEETS (UNAUDITED) As of June 30, 2002 CAPITALIZATION AND LIABILITIES (In Thousands) Capitalization: Common Stockholders' Equity: Common Stock, No Par Value; Authorized 20,000,000 Shares; Outstanding 13,563,871 Shares $ 185,661 Additional Paid-in Capital 52,000 Retained Earnings 97,404 Accumulated Other Comprehensive Income (Loss) (781) ----------- Total Common Stockholders' Equity 334,284 Preferred Stock Without Mandatory Redemption 19,120 Preferred Stock With Mandatory Redemption 22,000 Long-term Debt 317,405 ----------- Total Capitalization 692,809 ----------- Current Liabilities:Current Maturities of Long-Term Debt 26,750 Notes Payable 36,000 Accounts Payable 57,847 Accrued Taxes 35,501 Accrued Interest 8,169 Other 9,389 ----------- Total Current Liabilities 173,656 ----------- Deferred Liabilities and Credits: Accumulated Deferred Income Taxes 103,352 Regulatory Liability 35,835 Investment Tax Credits 13,756 Other 91,302 ----------- Total Deferred Liabilities and Credits 244,245 ----------- Total Capitalization and Liabilities $1,110,710 ----------- -----------
14 ITEM (2) PER EXEMPTION ORDER (INCOME STATEMENT AMOUNTS ARE 12 MONTHS ENDED): CILCO/CILCORP CONTRIBUTIONS TO AES/CILCORP CONSOLIDATED HOLDING COMPANY (GAAP BASIS) ($MM)
-------------------------------------------------------------------------------------------------------- 12 MOS. ENDED 6/30/01 12 MOS. ENDED 6/30/02(1) -------------------------------------------------------------------------------------------------------- GROSS REVENUES %-CILCO 9.03% 7.68% CILCO 803 686 AES 8,039 8,191 AES/CILCORP 8,895 8,936 -------------------------------------------------------------------------------------------------------- GROSS REVENUES %-CILCORP 9.62% 8.34% CILCORP (Including CILCO) 856 745 AES 8,039 8,191 AES/CILCORP 8,895 8,936 -------------------------------------------------------------------------------------------------------- NET OPERATING REVENUES %-CILCO 6.10% 5.77% CILCO 437 416 AES 6,708 6,694 AES/CILCORP 7,163 7,204 -------------------------------------------------------------------------------------------------------- NET OPERATING REVENUES %-CILCORP 6.35% 7.08% CILCORP (Including CILCO) 455 510 AES 6,708 6,694 AES/CILCORP 7,163 7,204 -------------------------------------------------------------------------------------------------------- OPERATING INCOME %-CILCO 4.67% 1.86% CILCO 97 42 AES 1,982 2,127 AES/CILCORP 2,078 2,252 -------------------------------------------------------------------------------------------------------- OPERATING INCOME %-CILCORP 4.62% 5.55% CILCORP (Including CILCO) 96 125 AES 1,982 2,127 AES/CILCORP 2,078 2,252 -------------------------------------------------------------------------------------------------------- NET INCOME %-CILCO 7.08% (2.89%) CILCO 43 11 AES 597 (410) AES/CILCORP 607 (381) -------------------------------------------------------------------------------------------------------- NET INCOME %-CILCORP 1.65% (7.61%) CILCORP (Including CILCO) 10 29 AES 597 (410) AES/CILCORP 607 (381) -------------------------------------------------------------------------------------------------------- NET ASSETS %-CILCO 3.00% 2.87% CILCO 1,065 1,111 AES 33,658 36,796 AES/CILCORP 35,529 38,675 -------------------------------------------------------------------------------------------------------- NET ASSETS %-CILCORP 5.27% 4.86% CILCORP (Including CILCO) 1,871 1,879 AES 33,658 36,796 AES/CILCORP 35,529 38,675 --------------------------------------------------------------------------------------------------------
--------------------------- (1) For purposes of comparison with the prior period, the CILCORP and CILCO data for gross revenues, net operating revenues and operating income were added to AES consolidated data to arrive at AES/CILCORP amounts. 15 CILCO/CILCORP CONTRIBUTIONS TO AES/CILCORP CONSOLIDATED HOLDING COMPANY (PRO RATA CONSOLIDATION BASIS)(1) ($MM)
-------------------------------------------------------------------------------------------------------- 12 MOS. ENDED 6/30/01 12 MOS. ENDED 06/30/02(2) -------------------------------------------------------------------------------------------------------- GROSS REVENUES %-CILCO 8.38% 7.13% CILCO 803 686 AES 8,723 8,875 AES/CILCORP 9,579 9,620 -------------------------------------------------------------------------------------------------------- GROSS REVENUES %-CILCORP 8.94% 7.74% CILCORP (Including CILCO) 856 745 AES 8,723 8,875 AES/CILCORP 9,579 9,620 -------------------------------------------------------------------------------------------------------- NET OPERATING REVENUES %-CILCO 5.47% 5.29% CILCO 437 416 AES 7,526 7,348 AES/CILCORP 7,981 7,858 -------------------------------------------------------------------------------------------------------- NET OPERATING REVENUES %-CILCORP 5.70% 6.49% CILCORP (Including CILCO) 455 510 AES 7,526 7,348 AES/CILCORP 7,981 7,858 -------------------------------------------------------------------------------------------------------- OPERATING INCOME %-CILCO 4.11% 1.76% CILCO 97 42 AES 2,262 2,254 AES/CILCORP 2,358 2,379 -------------------------------------------------------------------------------------------------------- OPERATING INCOME %-CILCORP 4.07% 5.25% CILCORP (Including CILCO) 96 125 AES 2,262 2,254 AES/CILCORP 2,358 2,379 -------------------------------------------------------------------------------------------------------- NET INCOME %-CILCO 7.08% 1.85% CILCO 43 11 AES 597 565 AES/CILCORP 607 594 -------------------------------------------------------------------------------------------------------- NET INCOME %-CILCORP 1.65% 4.88% CILCORP (Including CILCO) 10 29 AES 597 565 AES/CILCORP 607 594 -------------------------------------------------------------------------------------------------------- NET ASSETS %-CILCO 2.85% 2.87% CILCO 1,065 1,111 AES 35,522 36,796 AES/CILCORP 37,393 38,675 -------------------------------------------------------------------------------------------------------- NET ASSETS %-CILCORP 5.00% 4.86% CILCORP (Including CILCO) 1,871 1,879 AES 35,522 36,796 AES/CILCORP 37,393 38,675 --------------------------------------------------------------------------------------------------------
------------------- (1) This schedule presents on a proforma basis, the results of operations of AES excluding the following items: (1) Mark to market effect of FAS No. 133. (For the 12 month period ending June 30, 2002, the net mark to market gain from FAS No. 133 was $53 million.); (2) Loss on sale or write-down of investments. (In the second quarter of 2002, AES recorded an impairment charge of $40 million on an equity method of investment in a telecommunications company in Latin America, and a loss on the sale of an equity method investment in a telecommunications company in Latin America of approximately $14 million. In the first quarter of 2002, a subsidiary of AES sold an available-for-sale security resulting in gross proceeds of $92 million. The realized loss on the sale was $50 million. Approximately $48 million of the loss related to recognition of previously unrealized losses which had been recorded in other comprehensive income.); (3) Foreign currency transaction losses. (Foreign currency transaction losses due to devaluation in Brazilian Real and devaluation in the Argentina Peso offset by foreign transaction gains in Venezuelan Bolivar. The net foreign currency transaction loss is approximately $184 million.); (4) Discontinued operations. (The schedule excludes net loss of discontinued operations of $300 million consisting mainly of Termocandelaria, IB Valley, Power Direct, telecommunications businesses in Brazil and US, Fifoots, Eletronet, Cilcorp and NewEnergy.); (5) Accounting change. (In April 2002, AES adopted Derivative Implementation Group (DIG) Issue C-15 which established specific guidelines for certain contracts to be considered normal purchases and normal sales contracts. This resulted in a cumulative effect of an accounting change increase to $127 million, net of income tax effects. On January 1, 2002, AES adopted SFAS No. 142, "Goodwill and Other Intangible Assets" which establishes accounting and reporting standards for goodwill and other intangible assets. The adoption of SFAS No. 142 resulted in a cumulative reduction to income of $473 million, net of income tax effects.); (6) Provision for regulatory decision in Brazil. (AES has recorded the retroactive regulatory decision by the Brazilian regulator depriving AES Sul of amounts the company believes it was entitled to receive as a reduction in revenue.) If the excluded amounts are taken into account, certain CILCO/CILCORP contributions to AES/CILCORP on a consolidated basis would be different as follows: (2.89%) CILCO to Net Income and (7.61%) CILCORP to Net Income. (2) For purposes of comparison with the prior period, the CILCORP and CILCO data for gross revenues, net operating revenues and operating income were added to AES consolidated data to arrive at AES/CILCORP amounts. 16 ITEM (3) PER EXEMPTION ORDER - GENERATION INFORMATION: AES Generating Plants in Operation at June 30, 2002 (excluding CILCORP and IPALCO):
AES AES CAPACITY INTEREST EQUITY REGULATORY UNIT COUNTRY (MW) (%) (MW) STATUS ---- ------- ---- --- ---- ------ AES Deepwater USA 143 100 143 QF AES Beaver Valley USA 125 100 125 QF AES Placerita USA 120 100 120 QF AES Thames USA 181 100 181 QF AES Shady Point USA 320 100 320 QF AES Hawaii USA 180 100 180 QF AES Warrior Run USA 180 100 180 QF AES Somerset USA 675 100 675 EWG AES Cayuga USA 306 100 306 EWG AES Greenidge USA 161 100 161 EWG AES Westover USA 126 100 126 EWG AES Alamitos USA 2,083 100 2,083 EWG AES Redondo Beach USA 1,310 100 1,310 EWG AES Huntington Beach USA 563 100 563 EWG AES Hemphill USA 14 70 10 QF AES Mendota USA 25 100 25 QF AES Delano USA 50 100 50 QF AES Mountainview USA 126 100 126 EWG AES Medina Valley (sale pending) USA 47 100 47 EWG AES Ironwood USA 705 100 705 EWG AES Riverside* USA 154 100 154 EWG DOMESTIC SUBTOTAL: 7,594 7,590
* Currently in discontinued operations status.
AES AES CAPACITY INTEREST EQUITY REGULATORY UNIT COUNTRY (MW) (%) (MW) STATUS ---- ------- ---- --- ---- ------ UNIT AES Kingston Canada 110 50 55 EWG AES San Nicholas Argentina 650 69 449 EWG AES Cabra Corral Argentina 102 98 100 FUCO AES El Tunal Argentina 10 98 10 FUCO AES Sarmiento Argentina 33 98 32 FUCO AES Ullum Argentina 45 98 44 FUCO AES Quebrada Argentina 45 100 45 FUCO AES Alicura Argentina 1,000 100 1,000 FUCO CEMIG - Miranda Brazil 390 21 82 FUCO CEMIG - Igarapava Brazil 210 21 44 FUCO CEMIG (35 plants) Brazil 5,068 21 1064 FUCO AES Bayano Panama 150 49 74 FUCO 17 AES Panama Panama 42 49 21 FUCO AES Chiriqui - La Estrella Panama 42 49 21 FUCO AES Chiriqui - Los Valles Panama 48 49 24 FUCO AES Los Mina Dom. Rep. 210 100 210 EWG AES Yarra Australia 510 100 510 FUCO AES Jeeralang Australia 449 100 449 FUCO AES Mt. Stuart Australia 288 100 288 FUCO AES Xiangci - Cili China 26 51 13 FUCO Wuhu China 250 25 63 FUCO Chengdu Lotus City China 48 35 17 FUCO AES Jiaozuo China 250 70 175 FUCO AES Hefei China 115 70 81 FUCO AES Chongqing Nanchuan China 50 70 35 FUCO Yangcheng China 2,100 25 525 FUCO AES Ekibastuz Kazakhstan 4,000 100 4,000 FUCO AES Ust-Kamenogorsk GES Kazakhstan 331 100 331 FUCO AES Shulbinsk GES Kazakhstan 702 100 702 FUCO AES Ust-Kamenogorsk TETS Kazakhstan 1,464 100 1,464 FUCO AES Leninogorsk TETS Kazakhstan 418 100 418 FUCO AES Sogrinsk TETS Kazakhstan 349 100 349 FUCO AES Semipalatinsk TETS Kazakhstan 840 100 840 FUCO AES Ust-Kamenogorsk Heat Nets Kazakhstan 310 Managt 0 FUCO OPGC India 420 49 206 FUCO AES Lal Pir Pakistan 351 90 316 FUCO AES PakGen Pakistan 344 90 310 FUCO AES Borsod Hungary 171 100 171 FUCO AES Tisza II Hungary 860 100 860 FUCO AES Tiszapalkonya Hungary 250 100 250 FUCO AES Elsta Netherlands 405 50 203 FUCO Medway U.K. 688 25 172 FUCO AES Indian Queens U.K. 140 100 140 EWG AES Kilroot U.K. 520 92 479 FUCO AES Belfast West U.K. 120 97 116 FUCO AES Barry U.K. 230 100 230 FUCO AES Drax U.K. 4,065 100 4,065 FUCO AES Fifoots Point* U.K. 360 100 360 FUCO AES Uruguaiana Brazil 600 100 600 FUCO AES Tiete (10 plants) Brazil 2,650 53 1,405 FUCO AES EDC Venezuela 2,265 87 1,971 FUCO AES Merida III Mexico 484 55 266 FUCO AES Mtkvari Georgia 600 100 600 FUCO AES Khrami I Georgia 113 Managt 0 FUCO AES Khrami II Georgia 110 Managt 0 FUCO AES Ottana Italy 140 100 140 FUCO AES Mammonal Columbia 90 56 50 FUCO AES Chivor Columbia 1,000 96 960 FUCO AES Gener-Electrica de Santiago Chile 379 89 337 FUCO AES Gener-Energia Verde Chile 39 99 39 FUCO AES Gener-Guacolda Chile 304 49 149 FUCO AES Gener-Norgener Chile 277 99 274 FUCO Itabo (pending sale) Dom. Rep. 587 24 141 FUCO AES Bohemia Czech Rep. 50 83 42 FUCO AES SONEL Cameroon 800 51 408 FUCO Central Dique Argentina 68 51 35 FUCO AES Termoandes Argentina 640 99 634 FUCO AES Parana Argentina 845 67 566 FUCO AES Kelvin Rep. South 600 95 570 FUCO 18 Africa Ebute Nigeria 290 95 276 FUCO AES Gener - Cordillera Chile 245 99 243 FUCO AES Gener - Costa Chile 512 99 507 FUCO AES Haripur Bangladesh 360 100 360 FUCO 43,627 31,986 FOREIGN SUBTOTAL: TOTAL - June 30, 2002 51,221 39,576 Foreign Generation as a Percentage of Total: 85% 81%
* Currently in discontinued operations status. CILCORP Generating Plants at June 30, 2002:
AES AES CAPACITY INTEREST EQUITY REGULATORY UNIT COUNTRY (MW) (%) (MW) STATUS ------- ---- --- ------ Edwards (3 units) USA 740 100 740 IL PUC Duck Creek USA 366 100 366 IL PUC Indian Trails USA 10 100 10 IL PUC Sterling Avenue USA 30 100 30 IL PUC Hallock Power Modules USA 13 100 13 IL PUC Kickapoo Power Modules USA 13 100 13 IL PUC TOTAL - June 30, 2002 1,172 1,172
Revenues from electric generation capacity - 12 months ended June 30, 2002 (millions of dollars): CILCORP 156 4% AES (excluding CILCORP)(1) 4,206 96% ---------- ------- Total 4,362 100%
CILCORP's electric revenues are allocated between electric generation and electric transmission and distribution activities according to utility rate base. AES generation revenues are derived from the total generation revenues earned by AES subsidiaries times the percentage ownership interest of AES in those subsidiaries. There has been no change in the amount of generation capacity owned by CILCORP and a 35 MW decrease in the amount of generation capacity owned by AES (excluding CILCORP and IPALCO) from 39,611 to 39,576 MW since March 31, 2002. There has been an 8% decrease in the total revenues earned from the capacity owned by AES and CILCORP in the twelve-month period ended June 30, 2002 compared with the twelve-month period ended March 31, 2002. The percentage of the total revenues derived from the generation capacity owned by CILCORP has increased from 3% to 4%. ---------------- (1) Includes revenues from electric generating capacity owned by IPALCO. 19 Although there was an overall decrease in AES' MW capacity since March 31, 2002, there were net increases in the following countries: Argentina, Chile and China. ITEM (4) PER EXEMPTION ORDER - ELECTRIC TRANSMISSION AND DISTRIBUTION AND GAS DISTRIBUTION: Electric transmission and distribution and gas distribution assets owned as of June 30, 2002 (millions of dollars): CILCORP 795 Total AES (excluding CILCORP)(2) 6,865 ---------- Total 7,660
Electric transmission and distribution and gas distribution revenues for 12 months ending June 30, 2002 (millions of dollars): CILCORP 423 Total AES (excluding CILCORP)(3) 4,668 ---------- Total 5,091
CILCORP's electric revenues are allocated between electric generation and electric transmission and distribution activities according to utility rate base. AES transmission and distribution revenues are derived from the total revenues earned by AES transmission and distribution subsidiaries by multiplying these revenues by the percentage ownership interest of AES in those subsidiaries. The total transmission and distribution assets owned by AES and CILCORP have decreased since March 31, 2002. CILCORP's transmission and distribution assets have increased while the revenues derived from such assets have decreased since March 31, 2002. AES' transmission and distribution assets have decreased and the revenues derived from such assets have decreased since March 31, 2002. CILCORP's percentage of the total transmission and distribution assets has remained the same at 10%, and CILCORP's percentage of the total revenues from such assets has increased from 7% to 8% for the twelve-month period ending June 30, 2002 compared to the twelve-month period ending March 31, 2002. -------------------- (2) Includes transmission and distribution assets owned by IPALCO. (3) Includes revenues from transmission and distribution assets owned by IPALCO. 20 ITEM (5) PER EXEMPTION ORDER: CILCO has not sold or transferred any electric and/or gas utility assets to any affiliate company of the AES consolidated holding company system during the second quarter of 2002. On February 13, 2002, CILCO filed with the Illinois Commerce Commission a "Notice of Transfer of Generating Assets" stating its intent to transfer substantially all of its generating assets to its wholly owned subsidiary, Central Illinois Generation, Inc. An Administrative Law Judge of the Illinois Commerce Commission issued a Proposed Order on March 29, 2002 approving the transfer, and the Commission voted to approve the transfer at a meeting on April 10, 2002. ITEM (6) PER EXEMPTION ORDER: On June 19, 2002, Central Illinois Light Company and Ameren Corporation filed a joint application with the Illinois Commerce Commission for authority to engage in a reorganization, and to enter into various agreements in connection therewith, including agreements with affiliated interests, and for such other approvals as may be required under the Illinois Public Utilities Act to effectuate the reorganization. The filing was made in Docket No. 02-0428. SIGNATURE Pursuant to the requirements of the Public Utility Holding Company Act of 1935, as amended, AES has duly caused this certificate to be signed on its behalf on this 29th day of August, 2002 by the undersigned thereunto duly authorized. The AES Corporation By: /s/ Erik Luckau Erik Luckau Associate General Counsel 21