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Previous: CENTRAL & SOUTH WEST CORP, 35-CERT, 2000-05-25 |
Next: MAGELLAN HEALTH SERVICES INC, SC 13D/A, 2000-05-25 |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Public Utility Holding Company Act of 1935
File No. 70-9073
Report For Period: January 1, 2000 to March 31, 2000
In the Matter of:
CENTRAL AND SOUTH WEST CORPORATION AND
CENTRAL POWER AND LIGHT COMPANY, et al.
This report is filed under Rule 24 of the Public Utility Holding Company Act of
1935 by Central Power and Light Company (CPL), a subsidiary of Central and South
West Corporation (CSW), pursuant to an order issued by the Securities and
Exchange Commission dated October 21, 1998 (HCAR 35-26931). The Better Choice
Home Mortgage Program ("Better Choices Program") is a mortgage incentive program
designed to promote efficient energy use and environmental conservation. The
matter requires that CPL file quarterly reports providing the following
information with respect to the Better Choices Program provided to nonaffiliates
by CPL, Public Service Company of Oklahoma (PSO), Southwestern Electric Power
Company (SWEPCO) and West Texas Utilities Company (WTU), (collectively,
"Operating Companies") and Central and South West Services, Inc. (Services): 1)
a balance sheet as of the relevant quarterly reporting date, 2) income statement
for the preceding twelve months, and 3) the name of each Company providing the
marketing services authorized by this order, the total number of Home
Certifications made during the relevant period. This report covers the period
from January 1, 2000 through March 31, 2000.
<PAGE>
The requested information for the reporting period January 1, 2000 through March
31, 2000, is as follows:
1) Copies of the Operating Companies and Services balance sheet for the
reporting period ended March 31, 2000 are attached as Exhibit 1.
2) Copies of the Operating Companies and Services income statement for the
twelve months ended March 31, 2000 are attached as Exhibit 2.
3) A) The name(s) of each company providing the marketing services
authorized by this order during the period ended March 31, 2000
are: NONE.
B) The total number of Home Certifications made during the period
ended March 31, 2000 are: NONE.
<PAGE>
S I G N A T U R E
As requested by order of this Commission pursuant to the Public Utility Holding
Company Act of 1935, Central Power and Light Company has duly caused this report
to be signed on its behalf on this 25th day of May 2000.
Central Power and
Light Company, et al.
/s/ R. Russell Davis
---------------------
R. Russell Davis
Controller and Chief
Accounting Officer
<PAGE>
INDEX TO EXHIBITS
Exhibit
Number Exhibit
1 Balance sheet for the reporting period ended March 31, 2000,
as required for:
a) Central Power and Light (CPL)
b) Public Service Company of Oklahoma (PSO)
c) Southwestern Electric Power Company (SWEPCO)
d) West Texas Utilities Company (WTU)
e) Central and South West Services, Inc. (Services)
2 Income statement for the twelve months ended March 31, 2000,
as required for:
a) Central Power and Light (CPL)
b) Public Service Company of Oklahoma (PSO)
c) Southwestern Electric Power Company (SWEPCO)
d) West Texas Utilities Company (WTU)
e) Central and South West Services, Inc. (Services)
Central Power and Light Company Exhibit 1 (a)
Consolidated Balance Sheet (unaudited) Page 1 of 2
- --------------------------------------------------------------------------------
As of March 31,
2000
-----------------
(thousands)
ASSETS
Electric Utility Plant
Production $ 3,155,806
Transmission 568,131
Distribution 1,167,172
General 234,725
Construction work in progress 128,761
Nuclear fuel 226,970
-----------------
5,481,565
Less - accumulated depreciation 2,235,154
-----------------
3,246,411
-----------------
Current Assets
Cash 3,186
Accounts receivable 62,635
Materials and supplies, at average cost 56,397
Fuel inventory, at LIFO costs 24,786
Under-recovered fuel costs 29,968
Prepayments and other 2,977
-----------------
179,949
-----------------
Deferred Charges and Other Assets
Regulatory assets 208,888
Regulatory assets designated for securitization 953,249
Nuclear decommissioning trust 90,979
Other 80,786
-----------------
1,333,902
-----------------
$ 4,760,262
=================
<PAGE>
Central Power and Light Company Exhibit 1 (a)
Consolidated Balance Sheet (unaudited) Page 2 of 2
- --------------------------------------------------------------------------------
As of March 31,
2000
---------------
(thousands)
CAPITALIZATION AND LIABILITIES
Capitalization
Common stock: $25 par value
Authorized shares: 12,000,000
Issued and outstanding shares: 6,755,535 $ 168,888
Paid-in capital 405,000
Retained earnings 733,957
-----------------
Total Common Stock Equity 1,307,845
-----------------
Preferred stock 5,967
CPL-obligated, mandatorily redeemable preferred securities of
subsidiary trust holding solely Junior Subordinated
Debentures of CPL 150,000
Long-term debt 1,454,551
-----------------
Total Capitalization 2,918,363
-----------------
Current Liabilities
Long-term debt due within twelve months 100,000
Advances from affiliates 159,892
Accounts payable 96,120
Payables to affiliates 35,211
Accrued taxes 38,314
Accumulated deferred income taxes 1,478
Accrued interest 29,608
Other 24,027
-----------------
484,650
-----------------
Deferred Credits
Accumulated deferred income taxes 1,215,668
Investment tax credits 132,005
Other 9,576
-----------------
1,357,249
-----------------
$ 4,760,262
=================
<PAGE>
Public Service Company of Oklahoma Exhibit 1 (b)
Consolidated Balance Sheet (unaudited) Page 1 of 2
- --------------------------------------------------------------------------------
As of March 31,
2000
-----------------
(thousands)
ASSETS
Electric Utility Plant
Production $ 916,087
Transmission 392,420
Distribution 907,281
General 211,038
Construction work in progress 54,529
-----------------
2,481,355
Less - Accumulated depreciation 1,116,888
-----------------
1,364,467
-----------------
Current Assets
Cash 2,943
Accounts receivable 27,725
Materials and supplies, at average cost 33,896
Fuel inventory, at LIFO cost 23,879
Accumulated deferred income taxes 21,955
Prepayments and other 2,463
-----------------
112,861
-----------------
Deferred Charges and Other Assets 69,176
-----------------
$ 1,546,504
=================
<PAGE>
Public Service Company of Oklahoma Exhibit 1 (b)
Consolidated Balance Sheet (unaudited) Page 2 of 2
- --------------------------------------------------------------------------------
As of March 31,
2000
-----------------
(thousands)
CAPITALIZATION AND LIABILITIES
Capitalization
Common stock: $15 par value
Authorized shares: 11,000,000 shares
Issued 10,482,000 shares and outstanding 9,013,000 shares $ 157,230
Paid-in capital 180,000
Retained earnings 126,642
-----------------
Total Common Stock Equity 463,872
-----------------
Preferred stock 5,286
PSO-obligated, mandatorily redeemable preferred securities of
subsidiary trust holding solely Junior Subordinated
Debentures of PSO 75,000
Long-term debt 344,592
-----------------
Total Capitalization 888,750
-----------------
Current Liabilities
Long-term debt due within twelve months 30,000
Advances from affiliates 110,203
Payables to affiliates 29,204
Accounts payable 62,973
Customer deposits 17,974
Accrued taxes 6,527
Accrued interest 10,312
Over-recovered fuel costs 2,798
Other 5,856
-----------------
275,847
-----------------
Deferred Credits
Accumulated deferred income taxes 308,608
Investment tax credits 37,126
Income tax related regulatory liabilities, net 32,215
Other 3,958
-----------------
381,907
-----------------
$ 1,546,504
=================
<PAGE>
Southwestern Electric Power Company Exhibit 1 (c)
Consolidated Balance Sheet (unaudited) Page 1 of 2
- --------------------------------------------------------------------------------
As of March 31,
2000
-----------------
(thousands)
ASSETS
Electric Utility Plant
Production $ 1,401,410
Transmission 485,312
Distribution 963,814
General 333,115
Construction work in progress 70,390
-----------------
3,254,041
Less - Accumulated depreciation 1,404,261
-----------------
1,849,780
-----------------
Current Assets
Cash 2,476
Accounts receivable 32,167
Receivables from affiliates 11,425
Materials and supplies, at average cost 26,229
Fuel inventory, at average costs 59,547
Accumulated deferred income taxes 2,003
Prepayments and other 16,655
-----------------
150,502
-----------------
Deferred Charges and Other Assets 102,943
-----------------
$ 2,103,225
=================
<PAGE>
Southwestern Electric Power Company Exhibit 1 (c)
Consolidated Balance Sheet (unaudited) Page 2 of 2
- --------------------------------------------------------------------------------
As of March 31,
2000
-----------------
(thousands)
CAPITALIZATION AND LIABILITIES
Capitalization
Common stock: $18 par value
Authorized: 7,600,000 shares
Issued and outstanding: 7,536,640 shares $ 135,660
Paid-in capital 245,000
Retained earnings 280,751
-----------------
Total Common Stock Equity 661,411
-----------------
Preferred stock 4,706
SWEPCO-obligated, mandatorily redeemable preferred securities
of subsidiary trust holding solely Junior Subordinated
Debentures of SWEPCO 110,000
Long-term debt 645,527
-----------------
Total Capitalization 1,421,644
-----------------
Current Liabilities
Long-term debt due within twelve months 45,595
Advances from affiliates 13,289
Accounts payable 58,625
Payables to affiliates 40,532
Customer deposits 14,803
Accrued taxes 16,655
Accrued interest 12,731
Over-recovered fuel costs 3,612
Other 15,364
-----------------
221,206
-----------------
Deferred Credits
Accumulated deferred income taxes 388,631
Investment tax credits 56,528
Other 15,216
-----------------
460,375
-----------------
$ 2,103,225
=================
<PAGE>
West Texas Utilities Company Exhibit 1 (d)
Balance Sheet (unaudited) Page 1 of 2
- --------------------------------------------------------------------------------
As of March 31,
2000
-----------------
(thousands)
ASSETS
Electric Utility Plant
Production $ 429,449
Transmission 220,394
Distribution 405,349
General 110,537
Construction work in progress 25,524
-----------------
1,191,253
Less - Accumulated depreciation 498,389
-----------------
692,864
-----------------
Current Assets
Cash 3,078
Accounts receivable 43,148
Materials and supplies, at average cost 13,936
Fuel inventory, at LIFO costs 17,946
Accumulated deffered income taxes 408
Under-recovered fuel costs 9,291
Prepayments and other 2,713
-----------------
90,520
-----------------
Deferred Charges and Other Assets
Deferred Oklaunion costs 7,421
Other 45,806
-----------------
53,227
-----------------
$ 836,611
=================
<PAGE>
West Texas Utilities Company Exhibit 1 (d)
Balance Sheet (unaudited) Page 2 of 2
- --------------------------------------------------------------------------------
As of March 31,
2000
-----------------
(thousands)
CAPITALIZATION AND LIABILITIES
Capitalization
Common stock: $25 par value
Authorized: 7,800,000 shares
Issued and outstanding: 5,488,560 shares $ 137,214
Paid-in capital 2,236
Retained earnings 115,515
-----------------
Total Common Stock Equity 254,965
-----------------
Preferred stock 2,482
Long-term debt 263,728
-----------------
Total Capitalization 521,175
-----------------
Current Liabilities
Long term debt due within twelve months 40,000
Advances from affiliates 4,602
Payables to affiliates 15,401
Accounts payable 38,585
Accrued taxes 12,647
Accrued interest 8,525
Refund due customers 2,800
Other 6,157
-----------------
128,717
-----------------
Deferred Credits
Accumulated deferred income taxes 145,008
Investment tax credits 25,005
Income tax related regulatory liabilities, net 13,100
Other 3,606
-----------------
186,719
-----------------
$ 836,611
=================
<PAGE>
Central and South West Services Exhibit 1 (e)
Balance Sheet (unaudited) Page 1 of 1
- --------------------------------------------------------------------------------
As of March 31,
2000
-----------------
(thousands)
ASSETS
Property, Plant and Equipment
General $ 114,294
Less - accumulated depreciation 41,288
-----------------
73,006
-----------------
Current Assets
Cash 1,443
Accounts receivable 27,361
Prepayments 73
-----------------
28,877
-----------------
Deferred Charges and Other Assets 27,609
-----------------
$ 129,492
=================
CAPITALIZATION AND LIABILITIES
Capitalization
Common stock: $10 par value
Authorized shares: 10,000 shares
Issued and outstanding shares: 10,000 shares $ 100
-----------------
Total Common Stock Equity 100
-----------------
Total Capitalization 100
-----------------
Current Liabilities
Advances from affiliates 90,242
Payables to affiliates 1,435
Accounts payable 11,050
Accrued taxes 1,990
Accrued interest 445
Other 3,916
-----------------
109,078
-----------------
Deferred Credits
Accumulated deferred income taxes 12,310
Other 8,004
-----------------
20,314
-----------------
$ 129,492
=================
Central Power and Light Company Exhibit 2 (a)
Consolidated Statement of Income (unaudited) Page 1 of 1
- -------------------------------------------------------------------------------
Twelve Months
Ended March 31,
2000
----------------
(thousands)
Electric Operating Revenues $ 1,516,525
----------------
Operating Expenses and Taxes
Fuel 425,471
Purchased power 75,428
Other operating 302,543
Maintenance 71,361
Depreciation and amortization 188,786
Taxes, other than income 67,201
Income taxes 98,380
----------------
1,229,170
----------------
Operating Income 287,355
----------------
Other Income and (Deductions)
Other 3,827
Non-operating income taxes 3,885
----------------
7,712
----------------
Income Before Interest Charges 295,067
----------------
Interest Charges
Interest on long-term debt 88,644
Distributions on Trust Preferred Securities 12,000
Interest on short-term debt and other 20,007
Allowance for borrowed funds used during construction (5,233)
----------------
115,418
----------------
Extraordinary Loss (5,518)
Net Income 174,131
Less: Preferred stock dividends 5,179
(Loss) on reaquired perferred stock (2,763)
----------------
Net Income for Common Stock $ 166,189
================
<PAGE>
Public Service Company of Oklahoma Exhibit 2 (b)
Consolidated Statement of Income (unaudited) Page 1 of 1
- -------------------------------------------------------------------------------
Twelve Months
Ended March 31,
2000
----------------
(thousands)
Electric Operating Revenues $ 759,689
----------------
Operating Expenses and Taxes
Fuel 279,021
Purchased power 81,515
Other operating 117,332
Maintenance 45,188
Depreciation and amortization 75,194
Taxes, other than income 29,677
Income taxes 33,109
----------------
661,036
----------------
Operating Income 98,653
----------------
Other Income and (Deductions)
Allowance for equity funds used during construction 120
Other (20)
Non-operating income taxes 1,590
----------------
1,690
----------------
Income Before Interest Charges 100,343
----------------
Interest Charges
Interest on long-term debt 26,444
Interest on short-term debt and other 8,407
Distributions on Trust Preferred Securities 6,000
Allowance for borrowed funds used during construction (1,870)
----------------
38,981
----------------
Net Income 61,362
Less: Preferred stock dividends 213
----------------
Net Income for Common Stock $ 61,149
================
<PAGE>
Southwestern Electric Power Company Exhibit 2 (c)
Consolidated Statement of Income (unaudited) Page 1 of 1
- -------------------------------------------------------------------------------
Twelve Months
Ended March 31,
2000
----------------
(thousands)
Electric Operating Revenues $ 980,119
----------------
Operating Expenses and Taxes
Fuel 392,678
Purchased power 42,876
Other operating 145,227
Maintenance 66,303
Depreciation and amortization 103,482
Taxes, other than income 48,913
Income taxes 36,127
----------------
835,606
----------------
Operating Income 144,513
----------------
Other Income and (Deductions)
Allowance for equity funds used during construction (12)
Other (6,654)
Non-operating income taxes 4,192
----------------
(2,474)
----------------
Income Before Interest Charges 142,039
----------------
Interest Charges
Interest on long-term debt 38,496
Distributions on Trust Preferred Securities 8,663
Interest on short-term debt and other 14,942
Allowance for borrowed funds used during construction (2,364)
----------------
59,737
----------------
Income Before Extraordinary Item 82,302
Extraordinary loss (net of tax benefit of $1,621) (3,011)
----------------
Net Income 79,291
Less: Preferred stock dividends 228
----------------
Net Income for Common Stock $ 79,063
================
<PAGE>
West Texas Utilities Company Exhibit 2 (d)
Statement of Income (unaudited) Page 1 of 1
- -------------------------------------------------------------------------------
Twelve Months
Ended March 31,
2000
----------------
(thousands)
Electric Operating Revenues $ 455,192
----------------
Operating Expenses and Taxes
Fuel 128,794
Purchased power 68,131
Other operating 93,358
Maintenance 20,287
Depreciation and amortization 45,256
Taxes, other than income 25,742
Income taxes 16,624
----------------
398,192
----------------
Operating Income 57,000
----------------
Other Income and (Deductions)
Allowance for equity funds used during construction 328
Other 2,946
Non-operating income taxes (993)
----------------
2,281
----------------
Income Before Interest Charges 59,281
----------------
Interest Charges
Interest on long-term debt 20,352
Interest on short-term debt and other 4,580
Allowance for borrowed funds used during construction (761)
----------------
24,171
----------------
Income Before Extraordinary Item 35,110
Extraordinary loss (net of tax benefit of $2,941) (5,462)
----------------
Net Income 29,648
Less: Preferred stock dividends 104
----------------
Net Income for Common Stock $ 29,544
================
<PAGE>
Central and South West Services Exhibit 2 (e)
Statement of Income (unaudited) Page 1 of 1
- -------------------------------------------------------------------------------
Twelve Months
Ended March 31,
2000
----------------
(thousands)
Operating Expenses and Taxes
Fuel $ 4,840
Other operating 236,611
Maintenance 7,145
Depreciation and amortization 13,412
Taxes, other than income 8,965
Income taxes 2,587
----------------
Operating (Loss) (273,560)
Other Income and (Deductions)
Services rendered to associates 278,516
----------------
Income Before Interest Charges 4,956
Interest Charges
Interest on short-term debt and other 4,956
----------------
4,956
----------------
Net Income for Common Stock $ --
================
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