SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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In the Matter of
CERTIFICATE
New Century Energies, Inc.
OF
File No. 70-9341
NOTIFICATION
(Public Utility Holding Company
Act of 1935)
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This Certificate of Notification is filed by New Century Energies, Inc.
("NCE"), a Delaware corporation, pursuant to Rule 24. Such filing is made
pursuant to NCE's Form U-1 Application-Declaration, as amended (the
"Application-Declaration"), and the order of the Securities and Exchange
Commission (the "Commission") dated February 26, 1999 (HCAR No. 26982) (the
"Order") in the above-referenced file. The Order directed that NCE file with the
Commission certificates pursuant to Rule 24 on a quarterly basis within 60 days
from the end of each calendar quarter. As such, this certificate reports
information related to the period January 1, 1999 through March 31, 1999. In
summary, the Order provides for NCE to report information relating to its
investments in exempt wholesale generators ("EWGs") and foreign utility
companies ("FUCOs") (collectively "Exempt Entities"). For the purposes of this
report, Yorkshire Power Group Ltd., which indirectly holds Yorkshire Electricity
Group plc, and The Independent Power Corporation plc will be treated as FUCOs.
Such required information is as follows:
a. NCE's aggregate investment in Exempt Entities, as computed in accordance
with rule 53(a):
NCE's aggregate investment in Exempt Entities at March 31, 1999 is $375.6
million or 52.0% of retained earnings.
b. NCE's aggregate investment in Exempt Entities as a percentage of the
following:
As a percentage of total capitalization: 6.5%
As a percentage of net utility plant 6.3%
As a percentage of total consolidated assets 4.9%
As a percentage of market value of common equity
and retained earnings 9.6%
c. NCE's consolidated capitalization ratios:
Debt as a percentage of capitalization (including
approximately $409 million of short-term debt) 49.0%
Equity as a percentage of capitalization
(including mandatorily redeemable preferred
securities) 51.0%
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d. NCE's market to book ratio of common stock
Market-to-book ratio at March 31, 1999 1.47
e. Analysis of growth in NCE's consolidated retained earnings:
Retained earnings growth from Exempt Entities $12.7 million
Retained earnings growth from all other NCE subsidiaries 21.6 million
Total increase in consolidated retained earnings
for the quarter ended March 31, 1999 $34.3 million
f. Statement of revenues and net income for the twelve months ending March 31,
1999 for each of the Exempt Entities (in millions):
Exempt Entity Revenues Net Income (Loss)
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Yorkshire Power Group Ltd. $1,135 $52.3
The Independent Power Corporation plc 0.7 (0.2)
Independent Power International - (0.5)
KES Jamaica, L.P. .04 (0.9)
Denver City Energy Associates, L.P. - (1.1)
New Century Energies, Inc.
Dated: June 1, 1999 By: /s/ Teresa S. Madden
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Teresa S. Madden
Controller
