File No
-------
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
FORM U-3A-2
Statement by Holding Company Claiming Exemption Under
Rule U-3A-2 from the Provisions of the
Public Utility Holding Company Act of 1935
CTG RESOURCES, INC.
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.(a). Claimant Information.
Name of Claimant: The claimant's name is CTG Resources, Inc.
("CTG").
State of Organization: CTG is incorporated under the laws of
the State of Connecticut.
Location and Nature of Business: CTG's principal place of
business and executive offices are located at 100 Columbus Boulevard,
Hartford, Connecticut 06103. CTG is the holding company for Connecticut
Natural Gas Corporation ("CNG") and The Energy Network, Inc. ("TEN") and,
indirectly, for their several subsidiaries. CNG, TEN and their
subsidiaries are described in Section 1.(b). The business of CTG consists
of owning the common stock of its two subsidiaries, CNG and TEN, and of
raising capital to meet the needs of CNG, TEN and their subsidiaries. CTG
is not an operating company.
1.(b) Subsidiary Information.
(i) Name of Subsidiary: Connecticut Natural Gas
Corporation.
State of Organization: CNG is incorporated under
the laws of the State of Connecticut. <PAGE>
Location and Nature of Business: CNG's principal
place of business and executive offices are located at 100 Columbus
Boulevard, Hartford, Connecticut 06103. CNG is a public utility gas
company under the jurisdiction of the Connecticut Department of Public
Utility Control. It is a wholly-owned subsidiary of CTG. The principal
business of CNG is the distribution, transportation and sale of natural gas
in Hartford and twenty (20) other cities and towns in central Connecticut
and in Greenwich, Connecticut.
(ii) Name of Subsidiary: The Energy Network, Inc.
("TEN").
State of Organization: TEN is incorporated under
the laws of the State of Connecticut.
Location and Nature of Business: TEN's principal
place of business and executive offices are located at 100 Columbus
Boulevard, Hartford, Connecticut 06103. It is a wholly-owned subsidiary of
CTG. TEN owns and operates a district heating and cooling system serving a
number of large buildings in the Capitol Area of Hartford, Connecticut and
offers energy equipment rentals and financing services to businesses
throughout Connecticut. In addition, TEN is the parent company of several
subsidiaries that are also engaged in unregulated, energy-related
activities, as described in sections (iv) through (vii) below. TEN is not
a public utility company.
(iii) Name of Subsidiary: CNG Realty Corp. ("CNGR").
State of Organization: CNGR is incorporated under
the laws of the State of Connecticut.
Location and Nature of Business: CNGR's principal
place of business and executive offices are located at 100 Columbus
Boulevard, Hartford, Connecticut 06103. It is a wholly-owned subsidiary of
CNG. CNGR is a single-purpose corporation that owns CNG's Operating and
Administrative Center at 100 Columbus Boulevard (the "Property"), including
the 7-acre site and the buildings thereon. CNGR engages in no other
business activity.
(iv) Name of Subsidiary: ENServe Corporation
("ENServe").
State of Organization: ENServe is incorporated
under the laws of the State of Connecticut.
Location and Nature of Business: ENServe's
principal place of business is located at 400 Ledyard Street, Hartford,
Connecticut. ENServe's executive offices are located at 100 Columbus
Boulevard, Hartford, Connecticut 06103. ENServe is a wholly-owned
subsidiary of TEN. It offers energy management services to residential,
commercial and industrial customers throughout Connecticut.
-2- <PAGE>
(v) Name of Subsidiary: TEN Transmission Company.
State of Organization: TEN Transmission Company is
incorporated under the laws of the State of Connecticut.
Location and Nature of Business: TEN Transmission
Company's principal place of business and executive offices are located at
100 Columbus Boulevard, Hartford, Connecticut 06103. It is a wholly-owned
subsidiary of TEN. TEN Transmission Company owns a 4.87 percent share of
the Iroquois Gas Transmission System Partnership, which owns a natural gas
pipeline that delivers Canadian natural gas into New York State and
Southern New England.
(vi) Name of Subsidiary: The Hartford Steam Company
("HSC").
State of Organization: HSC is incorporated under
the laws of the State of Connecticut.
Location and Nature of Business: HSC's principal
place of business is located at 60 Columbus Boulevard, Hartford,
Connecticut. HSC's executive offices are located at 100 Columbus
Boulevard, Hartford, Connecticut 06103. HSC, which is a wholly-owned
subsidiary of TEN, owns and operates a district heating and cooling system
serving a number of large buildings in central Hartford, Connecticut.
(vii) Name of Subsidiary: ENI Gas Services, Inc.
("ENIGas").
State of Organization: ENIGas is incorporated
under the laws of the State of Connecticut.
Location and Nature of Business: ENIGas's
principal place of business and executive offices are located at 100
Columbus Boulevard, Hartford, Connecticut 06103. It is a wholly-owned
subsidiary of TEN. ENIGas owns a one-third interest in KBC Energy Services
Partnership, which markets natural gas supplies and energy management
services to commercial and industrial end-users, primarily in New England.
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.
2.(a) Claimant Information: CTG has no properties other than
the ownership of all of the common stock of CNG and of TEN.
-3- <PAGE>
2.(b) CNG - Subsidiary Public Utility Company Information: A
major portion of CNG's physical assets consists of gas distribution
facilities. As of December 31, 1996, CNG owned approximately 1,865 miles
of distribution mains, 110,375 service units and 149,444 meters-in-field
for customer use, all located in Connecticut. CNG owns a liquified natural
gas plant in Rocky Hill, Connecticut and a nonoperative propane air
facility in New Britain. CNG does not own any producing fields, gas
manufacturing plants or pipelines which deliver or receive gas at the
border of the State of Connecticut. CNG has contracted for storage service
under which gas available during the warmer months of the year is stored
underground, out-of-state, for use during the colder winter months of the
year and for balancing throughout the year.
3. The following information for the last calendar year with respect
to claimant and each of its subsidiary public utility companies:
During the last calendar year, only CNG has been an operating public
utility company, and, therefore, the information that follows relates to it
alone.
(a) Number of kwh. of electric energy sold (at retail or
wholesale), and Mcf. of natural or manufactured gas distributed at retail.
Answer: 38,897,320 Mcf.
(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.
Answer: 125,150 Mcf. (This responses excludes 175,728 Mcf of
gas sold to electric utilities and 989,320 Mcf of gas sold to
cogenerators.)
(c) Number of kwh. 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.
Answer: 11,847,432 Mcf. (This response includes 175,728 Mcf
of gas sold to electric utilities and 989,320 Mcf of gas sold to
cogenerators.)
(d) Number of kwh. 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.
Answer: 49,501,538 Mcf.
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:
CTG holds no direct or indirect interest in an EWG or a foreign
utility company; therefore, the answers to (a) through (e) below are
"None." <PAGE>
-4- <PAGE>
(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 for the
distribution at retail of natural or manufactured gas.
(b) Name of each system company that holds an interest in such
EWG or foreign utility company; and description of the interest held.
(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.
(d) Capitalization and earnings of the EWG or foreign utility
company during the reporting period.
(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).
EXHIBIT A
A consolidating statement of income and surplus of the claimant and
its 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.
Attached as Exhibit A is a consolidating statement of income and
surplus of the claimant and its 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.
The Company's restructuring into a holding company was completed as
of the close of business on March 31, 1997. For this reason, the Company
recommends that these financial statements in Exhibit A should be looked at
together with the Company's Interim Report on Form 10-Q for the quarter
ending March 31, 1997, filed with the Commission on May 2, 1997, Commission
File No. 1-12859.
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.
Item No. Caption Heading
<PAGE>
1 Total Assets
2 Total Operating Revenues
3 Net Income
-5- <PAGE>
Attached as Exhibit B is a Financial Data Schedule which sets forth
1) Total Assets, 2) Total Operating Revenues and 3) Net Income applicable
to CTG and its subsidiaries as of the close of the last calendar year.
EXHIBIT C
An organizational chart showing the relationship of each EWG or
foreign company to associate companies in the holding-company system.
Not applicable.
The above-named claimant has caused this statement to be duly
executed on its behalf by its authorized officer on this 13th day of May,
1997.
CTG RESOURCES, INC.
By S/ Arthur C. Marquardt
----------------------------
Arthur C. Marquardt
President and Chief Operating Officer
Corporate Seal
Attest:
S/ Reginald L. Babcock
-----------------------------
(Name) Reginald L. Babcock
(Title) Vice President, General Counsel
and Secretary
Name, title, and address of officer to whom notices and correspondence
concerning this statement should be addressed:
Reginald L. Babcock
Vice President, General Counsel
and Secretary
CTG Resources, Inc., P.O. Box 1500,
Hartford, CT 06144-1500
-6- <PAGE>
<TABLE>
<CAPTION>
CTG RESOURCES, INC.
CONSOLIDATING INCOME STATEMENT
DECEMBER 31, 1996
(UNAUDITED)
EXHIBIT A
<S> <C> <C> <C> <C> <C> <C> <C>
CONNECTICUT CNG THE ENERGY THE ENI GAS TEN
NATURAL GAS REALTY NETWORK, HARTFORD SERVICES TRANSMISSION
ACCOUNT DESCRIPTION CORPORATION CO. INC. STEAM CO. INC. ENSERVE COMPANY
Operating Revenues $ 294,372 $ 1,674 $ 5,808 $ 15,775 $ - $ 1,684 $ -
Less: Cost of Energy 166,590 - - - - - -
State Gross Receipts Tax 10,682 - - 708 - - -
---------- ---------- ---------- ---------- ---------- ---------- ----------
Operating Margin 117,100 1,674 5,808 15,067 - 1,684 -
---------- ---------- ---------- ---------- ---------- ---------- ----------
Operating Expenses:
Operations & maintenance expenses 57,740 - 3,990 9,409 11 2,196 107
Depreciation 14,943 556 972 1,313 - 27 -
Income taxes 12,640 - 271 1,197 (73) (255) (45)
Other taxes 6,181 - 208 1,126 - 90 -
---------- ---------- ---------- ---------- ---------- ---------- ----------
91,504 556 5,441 13,045 (62) 2,058 62
---------- ---------- ---------- ---------- ---------- ---------- ----------
Operating Income 25,596 1,118 367 2,022 62 (374) (62)
---------- ---------- ---------- ---------- ---------- ---------- ----------
Other Income (Deductions):
Allowance for equity funds used
during construction 148 - - - - - -
Equity in partnership earnings 3,475 - 998 - (173) - 2,508
Other income (deductions) 51 - 1,061 9 - (3) (1,036)
Nonrecurring items - - - - - - -
Income Taxes - - - - - - -
---------- ---------- ---------- ---------- ---------- ---------- ----------
3,674 - 2,059 9 (173) (3) 1,472
---------- ---------- ---------- ---------- ---------- ---------- ----------
Interest and Debt Expense 11,733 1,118 675 358 - 25 -
---------- ---------- ---------- ---------- ---------- ---------- ----------
Net Income 17,537 - 1,751 1,673 (111) (402) 1,410
Less-Dividends on Preferred Stock 63 - - - - - -
---------- ---------- ---------- ---------- ---------- ---------- ----------
Net Income Applicable to Common Stock $ 17,474 $ - $ 1,751 $ 1,673 $ (111) $ (402) $ 1,410
========== ========== ========== ========== ========== ========== ==========
</TABLE>
Note: Individual columns may not add to Consolidated amounts due to
rounding.
<PAGE>
<TABLE>
<CAPTION>
CTG RESOURCES, INC.
CONSOLIDATING INCOME STATEMENT (CONCLUDED)
DECEMBER 31, 1996
(UNAUDITED)
EXHIBIT A
<S> <C> <C> <C> <C>
CTG ADJUSTMENTS/ CONSOLIDATED
RESOURCES, INC. ELIMINATIONS CTG RESOURCES,
ACCOUNT DESCRIPTION (HOLDING CO.) DEBIT CREDIT INC.
Operating Revenues $ - $ - $ (5,142) $ 314,170
Less: Cost of Energy - 10,080 - 176,670
State Gross Receipts Tax - - - 11,390
---------- ---------- ---------- ----------
Operating Margin - (10,080) (5,142) 126,110
---------- ---------- ---------- ----------
Operating Expenses:
Operations & maintenance expenses - - (15,212) 58,242
Depreciation - - (16) 17,794
Income taxes - 179 - 13,912
Other taxes - - - 7,604
---------- ---------- ---------- ----------
- 179 (15,228) 97,552
---------- ---------- ---------- ----------
Operating Income - (10,259) 10,086 28,558
---------- ---------- ---------- ----------
Other Income (Deductions):
Allowance for equity funds used
during construction - - - 148
Equity in partnership earnings - 4,321 - 2,486
Other income (deductions) - - (108) 189
Nonrecurring items - - (892) 892
Income Taxes - 1,267 - (1,267)
---------- ---------- ---------- ----------
- 5,588 (1,000) 2,448
---------- ---------- ---------- ----------
Interest and Debt Expense - - (440) 13,469
---------- ---------- ---------- ----------
Net Income - (4,671) 9,526 17,537
Less-Dividends on Preferred Stock - - - 63
---------- ---------- ---------- ----------
Net Income Applicable to Common Stock $ - $ (4,671) $ 9,526 $ 17,474
========== ========== ========== ==========
</TABLE>
Note: Individual columns may not add to Consolidated amounts due to
rounding.
<PAGE>
<TABLE>
<CAPTION>
CTG RESOURCES, INC.
CONSOLIDATING BALANCE SHEET
AT DECEMBER 31, 1996
(UNAUDITED)
EXHIBIT A
<S> <C> <C> <C> <C> <C> <C> <C>
CONNECTICUT CNG THE ENERGY THE ENI GAS TEN
NATURAL GAS REALTY NETWORK, HARTFORD SERVICES TRANSMISSION
ACCOUNT DESCRIPTION CORPORATION CO. INC. STEAM CO. INC. ENSERVE COMPANY
ASSETS
------
Plant and Equipment:
Regulated energy $ 390,443 $ 17,875 $ - $ - $ - $ - $ -
Unregulated energy - - 18,863 42,272 - 176 -
Construction work in progress 4,183 - 93 - - - -
--------- --------- --------- --------- --------- --------- ---------
394,626 17,875 18,956 42,272 - 176 -
Less-Allowance for depreciation 124,768 4,467 4,947 14,230 - 45 -
--------- --------- --------- --------- --------- --------- ---------
269,858 13,408 14,009 28,042 - 131 -
--------- --------- --------- --------- --------- --------- ---------
Investments, at equity 37,134 - 33,889 - 62 - 9,748
--------- --------- --------- --------- --------- --------- ---------
Current Assets:
Cash and cash equivalents 1,425 6 (1,297) 1,253 42 7 -
Accounts and notes receivable 39,018 703 7,479 1,894 (11) 526 -
Allowance for doubtful accounts (4,719) - (196) (82) - (28) -
Accrued utility revenue 16,375 - - - - - -
Inventories 13,700 - - 190 - 102 -
Prepaid expenses 3,497 - 16 177 - 18 -
--------- --------- --------- --------- --------- --------- ---------
69,296 709 6,002 3,432 31 625 -
--------- --------- --------- --------- --------- --------- ---------
Deferred Charges and
Other Assets:
Unrecovered future taxes 44,812 - - - - - -
Recoverable transition costs 2,128 - - - - - -
Other assets 17,557 816 948 125 7 182 628
--------- --------- --------- --------- --------- --------- ---------
64,497 816 948 125 7 182 628
--------- --------- --------- --------- --------- --------- ---------
$ 440,785 $ 14,933 $ 54,848 $ 31,599 $ 100 $ 938 $ 10,376
========= ========= ========= ========= ========= ========= =========
</TABLE>
Note: Individual columns may not add to Consolidated amounts due to
rounding.
<PAGE>
<TABLE>
<CAPTION>
CTG RESOURCES, INC.
CONSOLIDATING BALANCE SHEET (CONCLUDED)
AT DECEMBER 31, 1996
(UNAUDITED)
EXHIBIT A
<S> <C> <C> <C> <C> <C> <C> <C>
CONNECTICUT CNG THE ENERGY THE ENI GAS TEN
NATURAL GAS REALTY NETWORK, HARTFORD SERVICES TRANSMISSION
CORPORATION CO. INC. STEAM CO. INC. ENSERVE COMPANY
CAPITALIZATION AND LIABILITIES
------------------------------
Capitalization:
Common Stock $ 33,233 $ 1 $ 2 $ 62 $ 1 $ 1 $ 1
Capital in excess of par value 87,402 - 12,760 5,001 234 807 8,650
Retained Earnings 51,731 - 24,382 19,101 (112) (658) 517
--------- --------- --------- --------- --------- --------- ---------
172,366 1 37,144 24,164 123 150 9,168
Unearned compensation -
Restricted stock awards (1,342) - - - - - -
Treasury stock - - - - - - -
--------- --------- --------- --------- --------- --------- ---------
Common stock equity 171,024 1 37,144 24,164 123 150 9,168
Preferred stock, not subject to
mandatory redemption 899 - - - - - -
Long-term debt 111,000 14,499 11,400 625 - 19 -
--------- --------- --------- --------- --------- --------- ---------
282,923 14,500 48,544 24,789 123 169 9,168
--------- --------- --------- --------- --------- --------- ---------
Current Liabilities:
Current portion of long-term debt 12,000 - - - - - -
Notes payable 9,000 - - - - - -
Accounts payable and accrued expenses 45,195 6 865 1,446 2 923 42
Refundable purchased gas costs 3,474 - 25 (184) - - -
Accrued liabilities 2,504 427 115 414 (38) (119) 316
--------- --------- --------- --------- --------- --------- ---------
72,173 433 1,005 1,676 (36) 804 358
--------- --------- --------- --------- --------- --------- ---------
Deferred Credits:
Deferred income taxes 29,135 - 5,299 5,085 13 (35) 850
Unfunded deferred income taxes 44,812 - - - - - -
Investment tax credits 3,148 - - - - - -
Refundable taxes 3,445 - - - - - -
Other 5,149 - - 49 - - -
--------- --------- --------- --------- --------- --------- ---------
85,689 - 5,299 5,134 13 (35) 850
--------- --------- --------- --------- --------- --------- ---------
Commitments and Contingencies - - - - - - -
--------- --------- --------- --------- --------- --------- ---------
$ 440,785 $ 14,933 $ 54,848 $ 31,599 $ 100 $ 938 $ 10,376
========= ========= ========= ========= ========= ========= =========
</TABLE>
Note: Individual columns may not add to Consolidated amounts due to
rounding.
<PAGE>
<TABLE>
<CAPTION>
CTG RESOURCES, INC.
CONSOLIDATING BALANCE SHEET (CONCLUDED)
AT DECEMBER 31, 1996
(UNAUDITED)
EXHIBIT A
<S> <C> <C> <C> <C>
CTG ADJUSTMENTS/ CONSOLIDATED
RESOURCES, INC. ELIMINATIONS CTG RESOURCES,
ACCOUNT DESCRIPTION (HOLDING CO.) DEBIT CREDIT INC.
ASSETS
------
Plant and Equipment:
Regulated energy $ - $ - $ (481) $ 407,837
Unregulated energy - - (585) 60,726
Construction work in progress - - - 4,276
--------- --------- --------- ---------
- - (1,066) 472,839
Less-Allowance for depreciation - 263 - 148,194
--------- --------- --------- ---------
- 263 (1,066) 324,645
--------- --------- --------- ---------
Investments, at equity - - (70,160) 10,673
--------- --------- --------- ---------
Current Assets:
Cash and cash equivalents - - - 1,436
Accounts and notes receivable - - (8,013) 41,596
Allowance for doubtful accounts - - - (5,025)
Accrued utility revenue - - - 16,375
Inventories - - - 13,992
Prepaid expenses - - - 3,708
--------- --------- --------- ---------
- - (8,013) 72,082
--------- --------- --------- ---------
Deferred Charges and Other
Assets:
Unrecovered future taxes - - - 44,812
Recoverable transition costs - - - 2,128
Other assets - - - 20,263
--------- --------- --------- ---------
- - - 67,203
--------- --------- --------- ---------
$ - $ 263 $ (79,239) $ 474,603
========= ========= ========= =========
</TABLE>
Note: Individual columns may not add to Consolidated amounts due to
rounding.
<PAGE>
<TABLE>
<CAPTION>
CTG RESOURCES, INC.
CONSOLIDATING BALANCE SHEET (CONCLUDED)
AT DECEMBER 31, 1996
(UNAUDITED)
EXHIBIT A
<S> <C> <C> <C> <C>
CTG ADJUSTMENTS/ CONSOLIDATED
RESOURCES, INC. ELIMINATIONS CTG RESOURCES,
ACCOUNT DESCRIPTION (HOLDING CO.) DEBIT CREDIT INC.
CAPITALIZATION AND LIABILITIES
------------------------------
Capitalization:
Common Stock $ - $ 68 $ - $ 33,233
Capital in excess of par value - 27,452 - 87,402
Retained Earnings - 43,226 - 51,735
--------- --------- --------- ---------
- 70,746 - 172,370
Unearned compensation -
Restricted stock awards - - - (1,342)
Treasury stock - - - -
--------- --------- --------- ---------
Common stock equity - 70,746 - 171,028
Preferred stock, not subject to
mandatory redemption - - - 899
Long-term debt - - (2,069) 135,474
--------- --------- --------- ---------
- 70,746 (2,069) 307,401
--------- --------- --------- ---------
Current Liabilities:
Current portion of long-term debt - 2,069 - 14,069
Notes payable - - - 9,000
Accounts payable and accrued expenses - 7,258 - 41,221
Refundable purchased gas costs - - - 3,315
Accrued liabilities - 80 - 3,539
--------- --------- --------- ---------
- 9,407 - 71,144
--------- --------- --------- ---------
Deferred Credits:
Deferred income taxes - - - 40,347
Unfunded deferred income taxes - - - 44,812
Investment tax credits - - - 3,148
Refundable taxes - - - 3,445
Other - 892 - 4,306
--------- --------- --------- ---------
- 892 - 96,058
--------- --------- --------- ---------
Commitments and Contingencies - - - -
--------- --------- --------- ---------
$ - $ 81,045 $ (2,069) $ 474,603
========= ========= ========= =========
</TABLE>
Note: Individual columns may not add to Consolidated amounts due to
rounding.
<PAGE>
<TABLE>
<CAPTION>
CTG RESOURCES, INC.
CONSOLIDATING STATEMENT OF RETAINED EARNINGS
AT DECEMBER 31, 1996
(UNAUDITED)
EXHIBIT A
<S> <C> <C> <C> <C> <C> <C> <C>
CONNECTICUT CNG THE ENERGY THE ENI GAS TEN
NATURAL GAS REALTY NETWORK, HARTFORD SERVICES TRANSMISSION
ACCOUNT DESCRIPTION CORPORATION CO. INC. STEAM CO. INC. ENSERVE COMPANY
Retained Earnings at December 31, 1995 $ 50,002 $ - $ 28,010 $ 17,428 $ (1) $ (256) $ 310
Net Income/(Loss) 17,474 - 4,072 1,673 (111) (402) 1,410
Dividends Paid (15,745) - (7,699) - - - (1,203)
--------- --------- --------- --------- --------- --------- ---------
Retained Earnings at December 31, 1996 $ 51,731 $ - $ 24,383 $ 19,101 $ (112) $ (658) $ 517
========= ========= ========= ========= ========= ========= =========
</TABLE>
Note: Individual columns may not add to Consolidated amounts due to
rounding.
<PAGE>
<TABLE>
<CAPTION>
CTG RESOURCES, INC.
CONSOLIDATING STATEMENT OF RETAINED EARNINGS (CONCLUDED)
AT DECEMBER 31, 1996
(UNAUDITED)
EXHIBIT A
<S> <C> <C> <C> <C>
CTG ADJUSTMENTS/ CONSOLIDATED
RESOURCES, INC. ELIMINATIONS CTG RESOURCES,
ACCOUNT DESCRIPTION (HOLDING CO.) DEBIT CREDIT INC.
Retained Earnings at December 31, 1995 $ - $ 45,487 $ - $ 50,006
Net Income/(Loss) - 6,642 - 17,474
Dividends Paid - - (8,902) (15,745)
--------- --------- --------- ---------
Retained Earnings at December 31, 1996 $ - $ 52,129 $ (8,902) $ 51,735
========= ========= ========= =========
</TABLE>
Note: Individual columns may not add to Consolidated amounts due to
rounding.
<PAGE>
<TABLE> <S> <C>
<ARTICLE> OPUR3
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> SEP-30-1996
<PERIOD-START> JAN-01-1996
<PERIOD-END> DEC-31-1996
<BOOK-VALUE> PER-BOOK
<TOTAL-ASSETS> 474,603
<TOTAL-OPERATING-REVENUES> 314,170
<NET-INCOME> 17,537
<PAGE>
</TABLE>
