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 4,197 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 910 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 906,212 MCF of gas
during the calendar year 1996. Commonwealth distributed at retail
278,584 MCF of gas during the calendar year 1996.
(b) Neither Bluefield Gas nor Commonwealth distributed at
retail natural gas outside the state of its incorporation.
<PAGE>
(c) Commonwealth did not sell at wholesale natural gas outside
the Commonwealth of Virginia. Bluefield Gas sold 278,584 MCF of
natural gas at wholesale to Commonwealth at the Virginia-West Virginia
state line.
(d) Bluefield Gas purchased 1,218,368 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 23,063 MCF of natural gas to
its end-users for other marketers. Commonwealth purchased 278,584 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 1996 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 24th day of February, 1997.
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BLUEFIELD GAS COMPANY
By: s/F. A. Farmer
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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
<PAGE>
<TABLE>
<CAPTION>
Exhibit A
Bluefield Gas Company
Consolidating Income Statement
Twelve Months Ended December 31, 1996
Bluefield Commonwealth
Gas Public Service Consolidated
Company Corporation Eliminations Total
------- ----------- ------------ -----
<S> <C> <C> <C> <C>
OPERATING REVENUES $6,526,884 $1,648,165 ($1,254,348) $6,920,701
COST OF GAS 5,062,904 1,236,329 (1,236,329) 5,062,904
---------- ---------- ----------- ----------
OPERATING MARGIN 1,463,980 411,836 (18,019) 1,857,797
OTHER OPERATING EXPENSES:
Gas utilities:
Other operations 614,685 179,191 (18,019) 775,857
Maintenance 163,116 55,888 219,004
Taxes - general 248,214 59,586 307,800
Taxes - income 64,246 22,769 87,015
Depreciation and amortization 143,521 47,517 191,038
---------- ---------- ----------- ----------
Total other operating expenses 1,233,782 364,951 (18,019) 1,580,714
OPERATING EARNINGS 230,198 46,885 0 277,083
OTHER INCOME AND DEDUCTIONS:
Gas utilities:
Interest Income 274 274
Merchandising and jobbing, net 7,833 7,833
Other deductions (7,123) (428) (7,551)
Taxes - income (1,945) 146 (1,799)
---------- ---------- ----------- ----------
Total other income and deductions (961) (282) 0 (1,243)
EARNINGS BEFORE INTEREST CHARGES 229,237 46,603 0 275,840
INTEREST CHARGES:
Gas utilities:
Long-term debt 82,880 82,880
Other interest 50,065 2,661 52,726
---------- ---------- ----------- ----------
Total interest charges 132,945 2,661 0 135,606
NET EARNINGS $ 96,292 $ 43,942 $ 0 $ 140,234
========== ========== =========== ==========
</TABLE>
<PAGE>
<TABLE>
<CAPTION> Exhibit A(1)
BLUEFIELD GAS COMPANY
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1996
Bluefield Commonwealth
Gas Public Service Consolidated
Company Corporation Eliminations Total
------- ----------- ------------ -----
ASSETS
- ------
<S> <C> <C> <C> <C>
UTILITY PLANT:
Utility Plant in Service $4,797,468 $1,125,562 $5,923,030
Accumulated Depreciation 1,746,185 351,858 2,098,043
---------- ---------- ----------- ----------
Utility Plant in Service, Net 3,051,283 773,704 0 3,824,987
Construction Work-In-Progress 125,847 58,699 184,546
---------- ---------- ----------- ----------
Utility Plant, Net 3,177,130 832,403 0 4,009,533
---------- ---------- ----------- ----------
CURRENT ASSETS:
Cash and Cash Equivalents 399,980 399,980
Accounts Receivable 1,244,328 225,960 (523,059) 947,229
Inventories 903,057 903,057
Deferred Income Taxes 0
Purchased Gas Adjustments 398,771 146,434 545,205
Other 42,769 42,769
---------- ---------- ----------- ----------
Total Current Assets 2,988,905 372,394 (523,059) 2,838,240
---------- ---------- ----------- ----------
OTHER ASSETS 86,973 11,875 (500) 98,348
---------- ---------- ----------- ----------
TOTAL $6,253,008 $1,216,672 ($523,559) $6,946,121
========== ========== =========== ==========
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Exhibit A(1)
BLUEFIELD GAS COMPANY
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1996
Bluefield Commonwealth
Gas Public Service Consolidated
Company Corporation Eliminations Total
------- ----------- ------------ -----
LIABILITIES
- -----------
<S> <C> <C> <C> <C>
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 1,325,231 459,966 1,785,197
---------- ---------- ----------- ----------
Total Stockholders' Equity 1,595,499 497,707 (500) 2,092,706
Long-Term Debt (Less Current
Maturities) 1,300,000 1,300,000
---------- ---------- ----------- ----------
Total Capitalization 2,895,499 497,707 (500) 3,392,706
---------- ---------- ----------- ----------
CURRENT LIABILITIES:
Current Maturities of Long-Term
Debt 50,000 50,000
Notes Payable 2,310,000 2,310,000
Accounts Payable 619,092 557,796 (523,059) 653,829
Income Taxes Payable (127,048) 49,554 (77,494)
Customers' Deposits 52,187 9,565 61,752
Accrued Expenses 250,456 12,651 263,107
Refunds From Suppliers -
Due Customers 2,326 (9,800) (7,474)
---------- ---------- ----------- ----------
Total Current Liabilities 3,157,013 619,766 (523,059) 3,253,720
DEFERRED CREDITS AND OTHER
LIABILITIES:
Deferred Income Taxes 186,114 95,909 282,023
Deferred Investment Tax Credits 14,382 3,290 17,672
Other Deferred Credits 0
---------- ---------- ----------- ----------
Total Deferred Credits and Other
Liabilities 200,496 99,199 0 299,695
---------- ---------- ----------- ----------
TOTAL $6,253,008 $1,216,672 ($523,559) $6,946,121
========== ========== =========== ==========
</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 $6,946,121
2 Total Operating Revenues 6,920,701
3 Net Income 140,234
</TABLE>
<PAGE>
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, 1996, 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-30-1997
<PERIOD-END> DEC-31-1996
<BOOK-VALUE> PER-BOOK
<TOTAL-ASSETS> 6,946,121
<TOTAL-OPERATING-REVENUES> 6,920,701
<NET-INCOME> 140,234
</TABLE>
