File No. 1-12859
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 to residential customers 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: Through
September 1997, ENServe's principal place of business was 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. Through September 1997, it offered
energy management services to residential, commercial and industrial
customers throughout Connecticut. The operating assets of ENServe were
sold in October 1997. ENServe is currently in the process of winding up
its operations.
-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-half 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, 1997, CNG owned approximately 1,874 miles
of distribution mains, 111,364 service units and 150,643 meters-in-field
for customer use, all located in Connecticut. CNG owns a liquified natural
gas plant in Rocky Hill, Connecticut. 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: 40,313,122 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: 591,392 Mcf. (This responses excludes 648,971 Mcf of
gas sold to electric utilities and 2,188,350 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: 9,171,873 Mcf. (This response includes 648,971 Mcf of
gas sold to electric utilities and 2,188,350 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: 49,484,995 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."
-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.
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
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 26th day of
February, 1998.
CTG RESOURCES, INC.
By S/ Arthur C. Marquardt
----------------------------
Arthur C. Marquardt
President and Chief Executive 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, 1997
(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 $ 289,114 $ 1,673 $ 5,666 $ 14,917 $ - $ 2,095 $ -
Less: Cost of Energy 161,506 - - - - - -
State Gross Receipts Tax 10,490 - - 516 - - -
---------- ---------- ---------- ---------- ---------- ---------- ----------
Operating Margin 117,118 1,673 5,666 14,401 - 2,095 -
---------- ---------- ---------- ---------- ---------- ---------- ----------
Operating Expenses:
Operations & maintenance
expenses 51,316 - 4,384 9,238 17 2,687 87
Depreciation 15,708 600 794 1,342 - 32 -
Income taxes 16,557 - (125) 1,121 (43) (309) (36)
Other taxes 6,249 - 178 1,053 - 120 -
---------- ---------- ---------- ---------- ---------- ---------- ----------
89,830 600 5,231 12,754 (26) 2,530 51
---------- ---------- ---------- ---------- ---------- ---------- ----------
Operating Income 27,288 1,073 435 1,647 26 (435) (51)
---------- ---------- ---------- ---------- ---------- ---------- ----------
Other Income (Deductions):
Allowance for equity funds used
during construction 125 - - - - - -
Equity in partnership earnings 445 - 1,835 - (102) - 2,745
Other income (deductions) (157 - 304 16 (40) 153 (1,148)
Income Taxes - - - - - - -
---------- ---------- ---------- ---------- ---------- ---------- ----------
413 - 2,139 16 (142) 153 1,597
---------- ---------- ---------- ---------- ---------- ---------- ----------
Interest and Debt Expense 11,319 1,073 1,189 66 - 40 -
---------- ---------- ---------- ---------- ---------- ---------- ----------
Net Income 16,382 - 1,385 1,597 (116) (322) 1,546
Less-Dividends on Preferred Stock 61 - - - - - -
---------- ---------- ---------- ---------- ---------- ---------- ----------
Net Income Applicable to Common
Stock $ 16,321 $ - $ 1,385 $ 1,597 $ (116) $ (322) $ 1,546
========== ========== ========== ========== ========== ========== ==========
</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, 1997
(UNAUDITED)
EXHIBIT A
CTG ADJUSTMENTS/ CONSOLIDATED
RESOURCES, INC. ELIMINATIONS CTG RESOURCES,
<S> <C> <C> <C> <C>
ACCOUNT DESCRIPTION (HOLDING CO.) DEBIT CREDIT INC.
Operating Revenues $ - $ - $ (4,773) $ 308,692
Less: Cost of Energy - 6,465 - 167,971
State Gross Receipts Tax - - - 11,006
---------- ---------- ---------- ----------
Operating Margin - (6,465) (4,773) 129,715
---------- ---------- ---------- ----------
Operating Expenses:
Operations & maintenance expenses - - (11,229) 56,500
Depreciation - - (15) 18,461
Income taxes - 54 - 17,219
Other taxes - - - 7,600
---------- ---------- ---------- ----------
- 54 (11,244) 99,780
---------- ---------- ---------- ----------
Operating Income - (6,519) 6,471 29,935
---------- ---------- ---------- ----------
Other Income (Deductions):
Allowance for equity funds used
during construction - - - 125
Equity in partnership earnings 5,746 7,736 - 2,933
Other income (deductions) - 891 - 19
Income Taxes - - (923) (923)
---------- ---------- ---------- ----------
5,746 8,627 (923) 2,154
---------- ---------- ---------- ----------
Interest and Debt Expense - - (80) 13,607
---------- ---------- ---------- ----------
Net Income 5,746 2,108 5,628 18,482
Less-Dividends on Preferred Stock - - - 61
---------- ---------- ---------- ----------
Net Income Applicable to Common Stock $ 5,746 $ 2,108 $ 5,628 $ 18,421
========== ========== ========== ==========
</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, 1997
(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 $ 409,040 $ 17,875 $ - $ - $ - $ - $ -
Unregulated energy - - 19,074 42,607 - - -
Construction work in progress 7,992 - 83 - - - -
--------- --------- --------- --------- --------- --------- ---------
417,032 17,875 19,157 42,607 - - -
Less-Allowance for depreciation 139,887 5,067 5,650 15,468 - - -
--------- --------- --------- --------- --------- --------- ---------
277,145 12,808 13,507 27,139 - - -
--------- --------- --------- --------- --------- --------- ---------
Investments, at equity 1 - 37,507 - 259 - 9,815
--------- --------- --------- --------- --------- --------- ---------
Current Assets:
Cash and cash equivalents 1,335 6 (891) 2,628 66 383 -
Accounts and notes receivable 42,799 703 53,367 2,130 (375) 1,216 -
Allowance for doubtful accounts (3,238) - (197) (83) - (33) -
Accrued utility revenue 20,313 - - - - - -
Inventories 14,206 - 49 159 - - -
Prepaid expenses 5,131 - 11 71 - - -
--------- --------- --------- --------- --------- --------- ---------
80,546 709 52,339 4,905 (309) 1,566 -
--------- --------- --------- --------- --------- --------- ---------
Deferred Charges and Other Assets:
Unrecovered future taxes 37,177 - - - - - -
Recoverable transition costs 464 - - - - - -
Other assets 19,993 756 1,925 256 13 - 593
--------- --------- --------- --------- --------- --------- ---------
57,634 756 1,925 256 13 - 593
--------- --------- --------- --------- --------- --------- ---------
$ 415,326 $ 14,273 $ 105,278 $ 32,300 $ (37) $ 1,566 $ 10,408
========= ========= ========= ========= ========= ========= =========
</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, 1997
(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 73,617 - 13,808 5,623 234 2,107 8,650
Retained Earnings 29,067 - 25,330 19,669 (228) (980) 520
--------- --------- --------- --------- --------- --------- ---------
135,917 1 39,140 25,354 7 1,128 9,171
Unearned compensation -
Restricted stock awards - - - - - - -
--------- --------- --------- --------- --------- --------- ---------
Common stock equity 135,917 1 39,140 25,354 7 1,128 9,171
Preferred stock, not subject to
mandatory redemption 883 - - - - - -
Long-term debt 119,500 13,859 55,600 - - - -
--------- --------- --------- --------- --------- --------- ---------
256,300 13,860 94,740 25,354 7 1,128 9,171
--------- --------- --------- --------- --------- --------- ---------
Current Liabilities:
Current portion of long-term debt 2,500 - - - - - -
Notes payable 26,500 - 4,000 - - - -
Accounts payable and accrued expenses 32,350 5 1,917 1,589 - 323 15
Refundable purchased gas costs 5,616 - (39) - - - -
Accrued liabilities 7,461 408 175 254 (76) 130 24
--------- --------- --------- --------- --------- --------- ---------
74,427 413 6,053 1,843 (76) 453 39
--------- --------- --------- --------- --------- --------- ---------
Deferred Credits:
Deferred income taxes 34,904 - 4,485 5,053 32 (15) 1,198
Unfunded deferred income taxes 37,177 - - - - - -
Investment tax credits 2,927 - - - - - -
Refundable taxes 3,491 - - - - - -
Other 6,100 - - 50 - - -
--------- --------- --------- --------- --------- --------- ---------
84,599 - 4,485 5,103 32 (15) 1,198
--------- --------- --------- --------- --------- --------- ---------
Commitments and Contingencies
--------- --------- --------- --------- --------- --------- ---------
$ 415,326 $ 14,273 $ 105,278 $ 32,300 $ (37) $ 1,566 $ 10,408
========= ========= ========= ========= ========= ========= =========
</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, 1997
(UNAUDITED)
EXHIBIT A
CTG ADJUSTMENTS/ CONSOLIDATED
RESOURCES, INC. ELIMINATIONS CTG RESOURCES,
<S> <C> <C> <C> <C>
ACCOUNT DESCRIPTION (HOLDING CO.) DEBIT CREDIT INC.
ASSETS
------
Plant and Equipment:
Regulated energy $ - $ - $ - $ 426,915
Unregulated energy - - (1,066) 60,615
Construction work in progress - - - 8,075
--------- --------- --------- ---------
- - (1,066) 495,605
Less-Allowance for depreciation - 517 - 165,555
--------- --------- --------- ---------
- 517 (1,066) 330,050
--------- --------- --------- ---------
Investments, at equity 174,204 - (210,668) 11,118
--------- --------- --------- ---------
Current Assets:
Cash and cash equivalents - - - 3,527
Accounts and notes receivable 4,144 - (58,643) 45,341
Allowance for doubtful accounts - - - (3,551)
Accrued utility revenue - - - 20,313
Inventories - - - 14,414
Prepaid expenses - - - 5,213
--------- --------- --------- ---------
4,144 - (58,643) 85,257
--------- --------- --------- ---------
Deferred Charges and Other Assets:
Unrecovered future taxes - - - 37,177
Recoverable transition costs - - - 464
Other assets - - (839) 22,697
--------- --------- --------- ---------
- - (839) 60,338
--------- --------- --------- ---------
$ 178,348 $ 517 $(271,216) $ 486,763
========= ========= ========= =========
</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, 1997
(UNAUDITED)
EXHIBIT A
CTG ADJUSTMENTS/ CONSOLIDATED
RESOURCES, INC. ELIMINATIONS CTG RESOURCES,
<S> <C> <C> <C> <C>
ACCOUNT DESCRIPTION (HOLDING CO.) DEBIT CREDIT INC.
CAPITALIZATION AND LIABILITIES
------------------------------
Capitalization:
Common Stock $ 68,933 $ 34,665 $ - $ 67,569
Capital in excess of par value (525) 103,514 - -
Retained Earnings 56,060 73,570 - 55,868
--------- --------- --------- ---------
124,468 211,749 - 123,437
Unearned compensation -
Restricted stock awards (932) - - (932)
--------- --------- --------- ---------
Common stock equity 123,536 211,749 - 122,505
Preferred stock, not subject to
mandatory redemption - - - 883
Long-term debt - (1,585) - 187,374
--------- --------- --------- ---------
123,536 213,334 - 310,762
--------- --------- --------- ---------
Current Liabilities:
Current portion of long-term debt - - (1,585) 4,085
Notes payable - - - 30,500
Accounts payable and accrued expenses 54,812 58,646 - 32,365
Refundable purchased gas costs - - - 5,577
Accrued liabilities - 161 - 8,215
--------- --------- --------- ---------
54,812 58,807 (1,585) 80,742
--------- --------- --------- ---------
Deferred Credits:
Deferred income taxes - 15 - 45,642
Unfunded deferred income taxes - - - 37,177
Investment tax credits - - - 2,927
Refundable taxes - - - 3,491
Other - 128 - 6,022
--------- --------- --------- ---------
- 143 - 95,259
--------- --------- --------- ---------
Commitments and Contingencies
--------- --------- --------- ---------
$ 178,348 $ 272,284 $ (1,585) $ 486,763
========= ========= ========= =========
</TABLE>
Note: Individual columns may not add to Consolidated amounts due to
rounding.
<PAGE>
<TABLE>
<CAPTION>
CTG RESOURCES, INC.
CONSOLIDATING STATEMENT OF CHANGES IN RETAINED EARNINGS
AT DECEMBER 31, 1997
(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 12/31/96 $ 51,730 $ - $ 24,382 $ 19,101 $ (112) $ (658) $ 517
Net Income/(Loss) 16,321 - 1,385 1,597 (116) (322) 1,546
Dividends Paid (13,609) - (1,523) (1,029) - - (1,543)
Holding Company Reorganization (25,375) - 1,086 - - - -
---------- ---------- ---------- ---------- ---------- ---------- ----------
Retained Earnings at 12/31/97 $ 29,067 $ - $ 25,330 $ 19,669 $ (228) $ (980) $ 520
========== ========== ========== ========== ========== ========== ==========
</TABLE>
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rounding.
<PAGE>
<TABLE>
<CAPTION>
CTG RESOURCES, INC.
CONSOLIDATING STATEMENT OF CHANGES IN RETAINED EARNINGS (CONCLUDED)
AT DECEMBER 31, 1997
(UNAUDITED)
EXHIBIT A
CTG ADJUSTMENTS/ CONSOLIDATED
RESOURCES, INC. ELIMINATIONS CTG RESOURCES,
<S> <C> <C> <C> <C>
ACCOUNT DESCRIPTION (HOLDING CO.) DEBIT CREDIT INC.
Retained Earnings at 12/31/96 $ - $ 43,226 $ - $ 51,734
Net Income/(Loss) 5,746 7,736 - 18,421
Dividends Paid (14,287) - (17,704) (14,287)
Holding Company Reorganization 64,601 40,312 - -
---------- ---------- ---------- ----------
Retained Earnings at 12/31/97 $ 56,060 $ 91,274 $ (17,704) $ 55,868
========== ========== ========== ==========
</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-30-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> DEC-31-1997
<BOOK-VALUE> PER-BOOK
<TOTAL-ASSETS> 486,763
<TOTAL-OPERATING-REVENUES> 308,692
<NET-INCOME> 18,482
<PAGE>
</TABLE>
