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Previous: PC CONNECTION INC, 10-K, 1999-03-31 |
Next: EQUITY FOCUS TRUSTS S T A R T 1998 SERIES, 24F-2NT, 1999-03-31 |
<PAGE>
UNITED STATES
SECURITES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM U-9C-3
QUARTERLY REPORT PURSUANT TO RULE 58
For the quarter ended December 31, 1998
ALLEGHENY ENERGY, INC.
(Name of registered holding company)
10435 Downsville Pike, Hagerstown, Maryland 21740-1766
(Address of principal executive offices)
Inquiries concerning this Form U-9C-3 should be directed to:
Thomas J. Kloc
Allegheny Energy, Inc.
10435 Downsville Pike
Hagerstown, MD 21740-1766
(301) 665-2711
<PAGE>
ITEM 1 - ORGANIZATION CHART
<TABLE>
<CAPTION>
Name Energy Date of State Percentage
of Reporting gas-related Organization Of of Voting
Company Company Organization Securities Held
<S> <C> <C> <C> <C>
Allegheny Energy, Inc. (1)
AYP Capital, Inc. (2)
Allegheny Energy (3) July 23, 1997 Delaware 100
Solutions, Inc.
</TABLE>
Nature of Business:
(1) Allegheny Energy, Inc. holds
directly all of the outstanding
securities in AYP Capital, Inc.
(2) AYP Capital, Inc. holds directly
all of the outstanding securities in
Allegheny Energy Solutions, Inc.
(3) Allegheny Energy Solutions, Inc.
marketed electric power generation
within the scope of the Pennsylvania
retail customer choice pilot program.
Allegheny Energy Solutions, Inc. also
offered products and services,
complementing energy sales, to meet the
needs of both business and residential
customers. Allegheny Energy Solutions,
Inc. will cease operations as an
electric generation supplier and will
discontinue supplying generation
services upon January 1999 customer
meter reading dates.
NOTE: Allegheny Energy Solutions, Inc. (Solutions)
and Duquesne Energy Partners, Inc. (DEP)
signed an Operating Agreement on November 18,
1997 to form a limited liability corporation,
Allegheny Energy Solutions, LLC (LLC). LLC was
incorporated in 1998. Solutions and DEP each
hold a 50% interest in LLC. At the time LLC
was formed, it was anticipated that LLC would
market power under the Pennsylvania retail
customers choice pilot program and provide
other complementary energy services. An
application was made to the Pennsylvania
Public Utility Commission to transfer
Solutions' license to market power under the
Pennsylvania retail customer choice pilot
program to LLC. However, an order was never
issued.
<PAGE>
ITEM 2 - ISSUANCES AND RENEWALS OF SECURITIES AND CAPITAL CONTRIBUTIONS
Company Company Amount
Contributing Receiving Of Capital
Capital Capital Contribution
<TABLE>
<CAPTION>
<S> <C> <C> <C>
AYP Capital, Inc. Allegheny Energy Solutions, Inc. $ 1,000 100 Shares of Common Stock
AYP Capital, Inc. Allegheny Energy Solutions, Inc. $ 3,242,620 Capital Contributions
</TABLE>
ITEM 3 - ASSOCIATE TRANSACTIONS
Part I - Transactions performed by reporting companies on behalf of
associate companies
Reporting Associate
Company Company Types of Direct Indirect Cost Total
Rendering Receiving Services Costs Costs Of Amount
Services Services Rendered Charged Charged Capital Billed
No services have been provided by the reporting
company to associate companies to date.
Part II - Transactions performed by associate companies on
behalf of reporting companies
Associate Reporting
Company Company Types of Direct Indirect Cost Total
Rendering Receiving Services Costs Costs Of Amount
Services Services Rendered Charged Charged Capital Billed
Allegheny Allegheny Technical $107,276 $42,742 - $150,018
Power Energy support;
Service Solutions, planning &
Corporation Inc. implementation
of financial
programs;
counsel on
corporate,
legal and
regulatory
matters;
general and
administrative
services
<PAGE>
ITEM 4 - SUMMARY OF AGGREGATE INVESTMENT
Investments in energy-related
companies:
Total consolidated December $4,383,263,000 line 1
capitalization as of 31, 1998
Total capitalization multiplied by 15%
(line 1 multiplied by 0.15) $ 657,489,450 line 2
Greater of $50 million or line 2 $ 657,489,450 line 3
Total current aggregate investment:
(categorized by major line of
energy-related business)
Allegheny Energy Solutions, Inc. $ 62,325
Total current aggregate
investment $ 62,325 line 4
Difference between the greater of $50 million or
15% of capitalization and the total
aggregate investment of the registered holding
company system
(line 3 less line 4) $657,427,125 line 5
Investments in gas-related companies:
None
ITEM 5 - OTHER INVESTMENTS
Major Line Other Other
of Energy- Investment Investment Reason for Difference
Related in Last in This in Other Investment
Business U-9C-3 Report U-9C-3 Report
None
<PAGE>
ITEM 6 - FINANCIAL STATEMENTS AND EXHIBITS
Allegheny Energy Solutions, Inc. Statement of Income
for the Quarter and Year-to-date ended December 31, 1998.
Allegheny Energy Solutions, Inc. Balance Sheet as of
December 31, 1998.
<PAGE>
Signature
Pursuant to the requirements of the Public Utilities
Holding Company Act of 1935, Allegheny Energy, Inc. has duly
caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
ALLEGHENY ENERGY, INC.
/s/ Thomas J. Kloc
Thomas J. Kloc
(Chief Accounting Officer)
March 31, 1998
ALLEGHENY ENERGY SOLUTIONS, INC.
STATEMENT OF INCOME
FOR THE PERIOD ENDED DECEMBER 31, 1998
Three Months Ended Year To Date Ended
December 31, 1998 December 31, 1998
OPERATING REVENUES:
Residential $1,372,684 $6,039,784
Commercial 2,806,629 11,711,575
Industrial 1,870,162 7,176,043
Wholesale and Other 5 26
Total Operating Revenues 6,049,480 24,927,429
OPERATING EXPENSES:
Power costs:
Purchased Power 6,347,495 23,303,912
Customer Accounting & Services 554,936 2,560,532
Administrative & General 319,500 1,580,724
Total Operation & Maintenance 7,221,931 27,445,168
Depreciation (1,885) 11,667
Taxes other than income taxes 287,590 1,267,314
Federal and state income taxes (558,594) (1,022,544)
Total Operating Expenses 6,949,042 27,701,605
Operating Income (899,562) (2,774,175)
Other Income, Net 22,526 1,060,251
Interest Charges 2,655 27,387
Net Income ($879,691) ($1,741,311)
Unaudited
ALLEGHENY ENERGY SOLUTIONS, INC.
BALANCE SHEET
As of December 31, 1998
Assets
Property, Plant and Equipment:
At Original Cost $19,878
Accumulated Depreciation 0
19,878
Current assets:
Cash 197,163
Accounts Receivable:
Electric Service 3,349,714
Other 2,146,757
Allowance for Uncollectibles (81,748)
Accounts Receivable - Affiliates 189,783
5,801,668
Deferred charges:
Other 29,559
Total Assets $5,851,105
Capitalization and Liabilities
Capitalization:
Common stock $1,000
Other paid-in capital 3,242,620
Retained earnings (3,181,295)
62,325
Current liabilities:
Short - Term Debt 1,000,000
Accounts payable - Affiliated 184,690
Accounts payable - Other 2,444,723
Taxes accrued:
Federal & State Income 134,950
Other 1,150,887
Other 857,661
5,772,910
Deferred credit and liabilities
Other 15,870
Total Capitalization and Liabilities $5,851,105
Unaudited
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