Filed with the Securities
and Exchange Commission
on May 26, 1999
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
In the Matter of
INTERIM CERTIFICATE
Conectiv and Subsidiaries
OF
File No. 70-9095
NOTIFICATION
(Public Utility Holding
Company Act of 1935)
PURSUANT TO RULE 24
This Certificate of Notification is filed by Conectiv, a
Delaware corporation, pursuant to Rule 24 (17 C.F.R. 250.24).
Such filing is made in connection with Conectiv's Form U-1
Application-Declaration, as amended (the "Application-
Declaration"), and authorized by the order (the "Order") of the
Securities and Exchange Commission (the "Commission") dated
February 26, 1998, in the above- referenced file. The Order
directed that Conectiv file with the Commission quarterly
certificates pursuant to Rule 24 within 60 days after each of the
first three calendar quarters and within 90 days after the last
calendar quarter. This certificate reports transactions from the
period January 1, 1999 through March 31, 1999. Capitalized terms
not otherwise defined herein have the meaning ascribed in the
Application-Declaration.
<PAGE> 2
1. Conectiv Common Stock issued during period (new issue shares
only):
None
2. Conectiv Common Stock issued pursuant to dividend
reinvestment plans and Common Stock and options issued pursuant
to benefit plans:
<TABLE>
<CAPTION>
Common Stock #0f Shares Issued During Period Cumulative #
0f Shares Issued
<S> <C> <C>
Dividend Reinvestment 0 0
Employee Benefit Plans 0 0
</TABLE>
During the period there were 487,800 stock options and 73,500
shares of restricted stock issued under the Conectiv Incentive
Compensation Plan. There was no distribution of Conectiv shares
during the period under the Conectiv Incentive Compensation Plan
or the Delmarva Long-Term Incentive Plan. To date awards under
the employee benefit plans include 1,526,800 stock options and
126,200 shares of restricted stock.
Note: Cumulative shares issued for dividend reinvestment plans
cannot exceed 5 million shares; cumulative shares issued for
employee benefit plans cannot exceed 5 million shares.
3.Conectiv Common Stock issued for acquisitions:
<TABLE>
<CAPTION>
#0f Shares Issued During Period Value per Share Restricted(Y/N)
<S> <C> <C>
0 N/A N/A
</TABLE>
4. Conectiv Long-Term Debt issued during period:
None
Aggregate long-term debt financing by Conectiv cannot exceed $250
million.
5. Short-Term Debt issued by Conectiv and Delmarva during
period:
<PAGE> 3
<TABLE>
<CAPTION>
Balance Balance at Period-End Weighted Average Cost Highest Daily
<S> <C> <C> <C>
Conectiv $375,400,000 5.26% $375,400,000
Delmarva 0 4.83% $ 77,500,000
</TABLE>
Note: The aggregate daily balance of Conectiv and Delmarva cannot
exceed $800 million per SEC order dated November 13, 1998;
Delmarva's daily balance cannot exceed $275 million.
6. Interest rate risk management transactions during period by
Conectiv and/or Utility Subsidiaries:
No activity.
7. Utility Subsidiary financings during period:
Delmarva: See Item 5 above.
Note: Short-term and long-term financings by Atlantic Electric
are exempt pursuant to Rule 52; long-term financings by Delmarva
are exempt pursuant to Rule 52.
8. Non-utility financing during period not exempt pursuant to
Rule 52:
None.
9. Guarantees issued by Conectiv and Non-utility Subsidiaries
during period:
<TABLE>
<CAPTION>
Issuer of Guarantee Issued on Behalf of Amount Type of Guarantee
<S> <C> <C> <C>
Conectiv Burney Forest Products, A.J.V $14,700,000 Guarantee of Payments
</TABLE>
As of the end of the period total guarantees by Conectiv are
$64,333,432 and total guarantees by Non-Utility Subsidiaries are $7,990,000.
<PAGE> 4
Note: Guarantees by Conectiv cannot exceed $350 million;
guarantees by Non-utility Subsidiaries cannot exceed $100
million.
10. Borrowings from System Money Pool during period:
Borrowings by individual Non-Utility Subsidiaries did not exceed
$25 million at any point during the period and are reported on
Form U-6B-2 filed contemporaneously herewith.
11. Forms U-6B-2 filed with Commission during period:
<TABLE>
<CAPTION>
Filing Entity Date of Filing
<S> <C>
Conectiv Resources Partners, Inc. May 26, 1999
ATE Investment May 26, 1999
Conectiv Services, Inc. May 26, 1999
Conectiv Communications May 26, 1999
Atlantic Southern Properties May 26, 1999
</TABLE>
12. Financial Statements
Conectiv Balance Sheet (Incorporated by reference
to the filing of Conectiv on Form 10-Q for the
period ended March 31, 1999)
Delmarva Balance Sheet (Incorporated by reference
to the filing of Delmarva on Form 10-Q for the
period ended March 31, 1999)
13. Registration Statements filed pursuant to the Securities Act
of 1933:
- Conectiv S-3 filed 2/12/99
<PAGE> 5
SIGNATURE
Pursuant to the requirements of the Public Utility Holding
Company Act of 1935, the undersigned companies have duly caused
this Certificate of Notification to be signed on their behalf by
the undersigned thereunto duly authorized.
The signatures of the applicants and of the persons signing
on their behalf are restricted to the information contained in
this application which is pertinent to the application of the
respective companies.
Conectiv
Delmarva Power & Light Company
Conectiv Resource Partners, Inc.
Conectiv Energy Supply, Inc.
Delmarva Capital Investments, Inc.
Conectiv Services, Inc.
DCI I, Inc.
DCI II, Inc.
DCTC-Burney, Inc.
Conectiv Operating Services Company
Conectiv Solutions, LLC
Conectiv Plumbing, LLC
Atlantic City Electric Company
Atlantic Generation, Inc.
Atlantic Southern Properties, Inc.
ATE Investment, Inc.
Conectiv Thermal Systems, Inc.
Binghamton General, Inc.
Binghamton Limited, Inc.
Pedrick General, Inc.
Vineland Limited, Inc.
Vineland General, Inc.
ATS Operating Services, Inc.
The Earth Exchange, Inc.
May 26, 1999 /s/ L. M. Walters
L.M. Walters
Treasurer
