FORM U-3A-2 BLUEFIELD GAS COMPANY
FILE NO. 69-153-3
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C.
Statement By Holding Company Claiming Exemption
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Under Rule U-3A-2 From the Provisions of the
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Public Utility Holding Company Act of 1935
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Bluefield Gas Company ("Bluefield Gas") 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. In support of such claim for
exemption, the following information is submitted:
1. Bluefield Gas is a natural gas public utility organized and
existing in good standing under the laws of the State of West Virginia.
Bluefield Gas distributes natural gas to some 4,057 residential, commercial
and industrial customers located in the City of Bluefield, West Virginia
and the immediate surrounding area of Mercer County, West Virginia pursuant
to certificates of convenience and necessity at rates and charges issued
and prescribed by the West Virginia Public Service Commission. Bluefield
Gas owns all of the issued and outstanding voting securities of
Commonwealth Public Service Corporation ("Commonwealth"), a Virginia public
service corporation, providing natural gas service to approximately 878
residential, commercial and industrial customers in Bluefield, Virginia and
the immediate surrounding area in Tazewell County, Virginia pursuant to
certificates of convenience and necessity at rates and charges issued and
prescribed by the State Corporation Commission of Virginia.
2. Bluefield Gas owns a transmission line extending from
Princeton, West Virginia to Bluefield, West Virginia, and a distribution
system within the City of Bluefield, West Virginia, and the immediate
surrounding area of Mercer County, West Virginia. Natural Gas is purchased
from various producers and marketers and transported on Columbia Gas
Transmission Corporation's system to Princeton, West Virginia. It is then
transported on Bluefield Gas' transmission line to Bluefield where it is
distributed at retail to Bluefield Gas customers. A portion of the gas is
sold at the West Virginia-Virginia state line to Commonwealth for resale,
pursuant to tariff on file with the Federal Energy Regulatory Commission,
to its customers in Bluefield, Virginia and the surrounding area of
Tazewell County, Virginia.
3. The following information for the last calendar year with
respect to Bluefield Gas and Commonwealth is submitted:
(a) Bluefield Gas distributed at retail 822,059 MCF of gas
during the calendar year 1995. Commonwealth distributed at retail
256,725 MCF of gas during the calendar year 1995.
(b) Neither Bluefield Gas nor Commonwealth distributed at
retail natural gas outside the state of its incorporation.
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(c) Commonwealth did not sell at wholesale natural gas
outside the Commonwealth of Virginia. Bluefield Gas sold 256,725 MCF
of natural gas at wholesale to Commonwealth at the Virginia-West
Virginia state line.
(d) Bluefield Gas purchased 1,165,705 MCF of natural gas
outside the State of West Virginia. All such gas was transported to
Bluefield Gas for resale as system supply by Columbia Gas
Transmission Corporation. Bluefield Gas transported 17,681 MCF of
natural gas to its end-users for other marketers. Commonwealth
purchased 256,725 MCF of natural gas from Bluefield Gas at the
Virginia-West Virginia state line.
4. (a through e) Not applicable The Company holds no interest,
directly or indirectly in an exempt wholesale generator (EWG) or
foreign utility company.
A consolidating statement of income and surplus and a consolidating
balance sheet for Bluefield Gas and Commonwealth for the 1995 calendar year
is attached as Exhibit A and Exhibit A(1).
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, 1996.
BLUEFIELD GAS COMPANY
By: s/ Frank A. Farmer, Jr.
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Its President
(SEAL)
ATTEST:
s/ Roger L. Baumgardner
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Secretary
<PAGE>
Notices and correspondence regarding this statement should be addressed to:
Roger L. Baumgardner
Secretary & Treasurer
Bluefield Gas Company
Post Office Box 13007
Roanoke, VA 24030
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<TABLE>
<CAPTION>
BLUEFIELD GAS COMPANY Exhibit A
CONSOLIDATING INCOME STATEMENT
FOR THE TWELVE MONTHS ENDED 12-31-95
BLUEFIELD COMMONWEALTH
GAS PUBLIC
COMPANY SERVICE ELIMINATIONS CONSOLIDATED
-------- ------- ------------ ------------
<S> <C> <C> <C> <C>
OPERATING REVENUE $4,904,907 $1,259,397 (914,199) $5,250,105
COST OF GAS 3,543,247 894,900 (894,900) 3,543,247
----------- ----------- ----------- -----------
OPERATING MARGIN 1,361,660 364,497 (19,299) 1,706,858
OTHER OPERATING EXPENSES:
Other operations 566,103 156,582 (19,299) 703,386
Maintenance 114,666 47,531 162,197
Taxes - general 238,221 50,041 288,262
Taxes - income 84,237 22,691 106,928
Depreciation and amortization 129,514 42,690 172,204
----------- ----------- ----------- -----------
Total other operating expenses 1,132,741 319,535 (19,299) 1,432,977
OPERATING EARNINGS 228,919 44,962 0 273,881
OTHER INCOME AND DEDUCTIONS:
Interest income 8,380 8,380
Merchandising and jobbing, net 1,518 1,518
Other deductions (4,307) (246) (4,553)
Taxes - income (3,173) 84 (3,089)
----------- ----------- ----------- -----------
Total other income and deductions 2,418 (162) 0 2,256
EARNINGS BEFORE INTEREST CHARGES 231,337 44,800 0 276,137
INTEREST CHARGES:
Long-term debt 92,183 92,183
Other interest 18,186 766 18,952
----------- ----------- ----------- -----------
Total interest charges 110,369 766 0 111,135
NET EARNINGS $120,968 $44,034 $0 $165,002
=========== =========== =========== ===========
</TABLE>
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<TABLE>
<CAPTION>
BLUEFIELD GAS COMPANY Exhibit A(1)
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1995
BLUEFIELD COMMONWEALTH
GAS PUBLIC
COMPANY SERVICE ELIMINATIONS CONSOLIDATED
------- ------- ------------ ------------
<S> <C> <C> <C> <C>
ASSETS:
UTILITY PLANT:
Utility Plant in Service $4,449,392 $1,028,443 $5,477,835
Accumulated Depreciation 1,768,181 313,426 2,081,607
----------- ----------- ----------- -----------
Utility Plant in Service, Net 2,681,211 715,017 0 3,396,228
Construction Work-In-Progress 5,249 66 5,315
----------- ----------- ----------- -----------
Utility Plant, Net 2,686,460 715,083 0 3,401,543
CURRENT ASSETS:
Cash 160,241 3,561 163,802
Accounts Receivable 841,764 (89,313) 752,451
Inventories 717,447 717,447
Deferred Income Taxes 0
Gas Cost Recoverable
from Customers 0
Purchased Gas Adjustment 75,697 (75,697) 0
Other 41,343 41,343
----------- ----------- ----------- -----------
Total Current Assets 1,760,795 (10,055) (75,697) 1,675,043
OTHER ASSETS:
Unrecovered Purchase Gas
Adjustments 0
Other 55,922 12,229 19,985 88,136
----------- ----------- ----------- -----------
Total Other Assets 55,922 12,229 19,985 88,136
TOTAL $4,503,177 $717,257 ($55,712) $5,164,722
=========== =========== =========== ===========
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
BLUEFIELD GAS COMPANY Exhibit A(1)
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1995
BLUEFIELD COMMONWEALTH
GAS PUBLIC
COMPANY SERVICE ELIMINATIONS CONSOLIDATED
------- ------- ------------ ------------
<S> <C> <C> <C> <C>
LIABILITIES:
CAPITALIZATION:
Stockholders' Equity:
Common Stock $49,704 $500 ($500) $49,704
Capital in Excess of Par Value 220,564 37,241 257,805
Retained Earnings 1,228,939 416,024 1,644,963
----------- ----------- ----------- -----------
Total Stockholders' Equity 1,499,207 453,765 (500) 1,952,472
Long-Term Debt (Less
Current Maturities) 50,000 50,000
----------- ----------- ----------- -----------
Total Capitalization 1,549,207 453,765 (500) 2,002,472
CURRENT LIABILITIES:
Current Maturities of
Long-Term Debt 1,250,000 1,250,000
Notes Payable 428,000 428,000
Dividends Payable 0
Accounts Payable 352,796 119,393 472,189
Accrued Income Taxes 245,589 32,783 278,372
Customers' Deposits 58,952 7,969 66,921
Accrued Expenses 233,818 2,438 236,256
Refunds From Suppliers -
Due Customers 90,267 33,721 123,988
Purchased Gas Adjustments 371,603 (75,697) 295,906
----------- ----------- ----------- -----------
Total Current Liabilities 3,031,025 196,304 (75,697) 3,151,632
DEFREERD CREDITS AND
OTHER LIABILITIES:
Deferred income taxes (72,431) 64,407 (8,024)
Deferred investment tax credits 15,181 3,461 18,642
Other Deferred Credits (19,805) (680) 20,485 0
----------- ----------- ----------- -----------
Total deferred credits and
other liabilities (77,055) 67,188 20,485 10,618
TOTAL $4,503,177 $717,257 ($55,712) $5,164,722
=========== =========== =========== ===========
</TABLE>
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EXHIBIT B
<TABLE>
<CAPTION>
BLUEFIELD GAS COMPANY
FINANCIAL DATA SCHEDULE
<S> <C> <C>
Item No. Caption Heading
------- ---------------
1 Total Assets $5,164,722
2 Total Operating Revenues 5,250,105
3 Net Income 165,002
</TABLE>
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EXHIBIT C
NOT APPLICABLE
<PAGE>
<TABLE> <S> <C>
<ARTICLE> OPUR3
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
CONSOLIDATING INCOME STATEMENT AND THE CONSOLIDATING BALANCE SHEET OF BLUEFIELD
GAS COMPANY FOR THE YEAR ENDED DECEMBER 31, 1995, AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SUBSIDIARY>
<NUMBER> 1
<NAME> COMMONWEALTH PUBLIC SERVICE CORPORATION
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> SEP-30-1996
<PERIOD-END> DEC-31-1995
<BOOK-VALUE> PER-BOOK
<TOTAL-ASSETS> 5,164,722
<TOTAL-OPERATING-REVENUES> 5,250,105
<NET-INCOME> 165,002
</TABLE>
