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Previous: CAROLINA POWER & LIGHT CO, U-3A-2, 2000-02-29 |
Next: CENTRAL & SOUTH WEST CORP, 35-CERT, 2000-02-29 |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Public Utility Holding Company Act of 1935
File No. 70-9073
Report For Period: October 1, 1999 to December 31, 1999
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 October 1, 1999 through December 31, 1999.
<PAGE>
The requested information for the reporting period October 1, 1999 through
December 31, 1999, is as follows:
1) Copies of the Operating Companies and Services balance sheet for the
reporting period ended December 31, 1999 are attached as Exhibit 1.
2) Copies of the Operating Companies and Services income statement for the
twelve months ended December 31, 1999 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 December 31, 1999
are: NONE.
B) The total number of Home Certifications made during the period
ended December 31, 1999 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 28th day of February 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 December
31, 1999, 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 December
31, 1999, 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 December 31,
1999
------------------
(thousands)
ASSETS
Electric Utility Plant
Production $ 3,152,319
Transmission 566,629
Distribution 1,157,091
General 307,378
Construction work in progress 101,550
Nuclear fuel 226,927
------------------
5,511,894
Less - accumulated depreciation 2,263,925
------------------
3,247,969
------------------
Current Assets
Cash 5,830
Special deposit for reaquisition of long-term debt 50,000
Accounts receivable 64,482
Materials and supplies, at average cost 58,196
Fuel inventory, at LIFO cost 26,434
Under-recovered fuel costs 30,911
Prepayments and other 5,353
------------------
241,206
------------------
Deferred Charges and Other Assets
Regulatory assets 215,302
Regulatory assets designated for securitization 953,249
Nuclear decommissioning trust 86,122
Other 104,002
------------------
1,358,675
------------------
$ 4,847,850
==================
<PAGE>
Central Power and Light Company Exhibit 1 (a)
Consolidated Balance Sheet (unaudited) Page 2 of 2
- --------------------------------------------------------------------------------
As of December 31,
1999
------------------
(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 764,225
------------------
Total Common Stock Equity 1,338,113
------------------
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 1,304,541
------------------
Total Capitalization 2,798,621
------------------
Current Liabilities
Long-term debt due within twelve months 150,000
Advances from affiliates 322,158
Accounts payable 88,702
Payables to affiliates 33,162
Accrued taxes 41,121
Accumulated deferred income taxes 2,103
Accrued interest 14,723
Other 19,330
------------------
671,299
------------------
Deferred Credits
Accumulated deferred income taxes 1,234,942
Investment tax credits 133,306
Other 9,682
------------------
1,377,930
------------------
$ 4,847,850
==================
<PAGE>
Public Service Company of Oklahoma Exhibit 1 (b)
Consolidated Balance Sheet (unaudited) Page 1 of 2
- --------------------------------------------------------------------------------
As of December 31,
1999
------------------
(thousands)
ASSETS
Electric Utility Plant
Production $ 916,889
Transmission 392,029
Distribution 897,516
General 217,368
Construction work in progress 35,903
------------------
2,459,705
Less - Accumulated depreciation 1,114,255
------------------
1,345,450
------------------
Current Assets
Cash 3,077
Accounts receivable 34,584
Materials and supplies, at average cost 34,289
Under-recovered fuel costs 6,469
Fuel inventory, at LIFO cost 24,143
Accumulated deferred income taxes 19,145
Prepayments and other 1,668
------------------
123,375
------------------
Deferred Charges and Other Assets 75,046
------------------
$ 1,543,871
==================
<PAGE>
Public Service Company of Oklahoma Exhibit 1 (b)
Consolidated Balance Sheet (unaudited) Page 2 of 2
- --------------------------------------------------------------------------------
As of December 31,
1999
------------------
(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 142,018
------------------
Total Common Stock Equity 479,248
------------------
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 364,516
------------------
Total Capitalization 924,050
------------------
Current Liabilities
Long-term debt due within twelve months 20,000
Advances from affiliates 79,169
Payables to affiliates 34,043
Accounts payable 44,088
Customer deposits 17,752
Accrued taxes 18,480
Accrued interest 5,420
Other 5,085
------------------
224,037
------------------
Deferred Credits
Accumulated deferred income taxes 302,727
Investment tax credits 37,574
Income tax related regulatory liabilities, net 32,826
Other 22,657
------------------
395,784
------------------
$ 1,543,871
==================
<PAGE>
Southwestern Electric Power Company Exhibit 1 (c)
Consolidated Balance Sheet (unaudited) Page 1 of 2
- --------------------------------------------------------------------------------
As of December 31,
1999
------------------
(thousands)
ASSETS
Electric Utility Plant
Production $ 1,402,062
Transmission 484,327
Distribution 958,318
General 333,949
Construction work in progress 52,775
------------------
3,231,431
Less - Accumulated depreciation 1,384,242
------------------
1,847,189
------------------
Current Assets
Cash 2,018
Accounts receivable 45,511
Receivables from affiliates 6,053
Materials and supplies, at average cost 26,420
Fuel inventory, at average cost 60,844
Accumulated deferred income taxes 1,583
Prepayments and other 16,978
------------------
159,407
------------------
Deferred Charges and Other Assets 101,202
------------------
$ 2,107,798
==================
<PAGE>
Southwestern Electric Power Company Exhibit 1 (c)
Consolidated Balance Sheet (unaudited) Page 2 of 2
- --------------------------------------------------------------------------------
As of December 31,
1999
------------------
(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 288,018
------------------
Total Common Stock Equity 668,678
------------------
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 495,973
------------------
Total Capitalization 1,279,357
------------------
Current Liabilities
Long-term debt due within twelve months 45,595
Advances from affiliates 140,897
Accounts payable 60,689
Payables to affiliates 37,353
Customer deposits 14,236
Accrued taxes 24,374
Accrued interest 9,792
Over-recovered fuel costs 2,888
Other 13,874
------------------
349,698
------------------
Deferred Credits
Accumulated deferred income taxes 380,495
Investment tax credits 57,649
Other 40,599
------------------
478,743
------------------
$ 2,107,798
==================
<PAGE>
West Texas Utilities Company Exhibit 1 (d)
Balance Sheet (unaudited) Page 1 of 2
- --------------------------------------------------------------------------------
As of December 31,
1999
------------------
(thousands)
ASSETS
Electric Utility Plant
Production $ 429,783
Transmission 220,479
Distribution 403,206
General 113,945
Construction work in progress 15,131
------------------
1,182,544
Less - Accumulated depreciation 495,847
------------------
686,697
------------------
Current Assets
Cash 3,810
Accounts receivable 50,579
Materials and supplies, at average cost 14,029
Fuel inventory, at LIFO costs 17,133
Under-recovered fuel costs 14,652
Prepayments and other 2,883
------------------
103,086
------------------
Deferred Charges and Other Assets
Deferred Oklaunion costs 8,352
Other 63,070
------------------
71,422
------------------
$ 861,205
==================
<PAGE>
West Texas Utilities Company Exhibit 1 (d)
Balance Sheet (unaudited) Page 2 of 2
- --------------------------------------------------------------------------------
As of December 31,
1999
------------------
(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 115,856
------------------
Total Common Stock Equity 255,306
------------------
Preferred stock 2,482
Long-term debt 263,686
------------------
Total Capitalization 521,474
------------------
Current Liabilities
Long term debt due within twelve months 40,000
Advances from affiliates 21,408
Payables to affiliates 18,856
Accounts payable 39,611
Accrued taxes 12,458
Accumulated deferred income taxes 1,653
Accrued interest 4,165
Refund due customers 6,000
Other 4,799
------------------
148,950
------------------
Deferred Credits
Accumulated deferred income taxes 148,746
Investment tax credits 25,323
Income tax related regulatory liabilities, net 13,057
Other 3,655
------------------
190,781
------------------
$ 861,205
==================
<PAGE>
Central and South West Services Exhibit 1 (e)
Balance Sheet (unaudited) Page 1 of 1
- --------------------------------------------------------------------------------
As of December 31,
1999
------------------
(thousands)
ASSETS
Property, Plant and Equipment
General $ 123,865
Less - accumulated depreciation 46,501
------------------
77,364
------------------
Current Assets
Cash 334
Accounts receivable 38,641
Prepayments 92
------------------
39,067
------------------
Deferred Charges and Other Assets 25,892
------------------
$ 142,323
==================
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 90,174
Payables to affiliates 1,501
Accounts payable 23,641
Accrued taxes 1,743
Accrued interest 442
Other 3,409
------------------
120,910
------------------
Deferred Credits
Accumulated deferred income taxes 12,813
Other 8,500
------------------
21,313
------------------
$ 142,323
==================
Central Power and Light Company Exhibit 2 (a)
Consolidated Statement of Income (unaudited) Page 1 of 1
- -------------------------------------------------------------------------------
Twelve Months
Ended December 31,
1999
------------------
(thousands)
Electric Operating Revenues $ 1,482,475
----------------
Operating Expenses and Taxes
Fuel 403,989
Purchased power 68,155
Other operating 290,074
Maintenance 70,165
Depreciation and amortization 177,702
Taxes, other than income 73,823
Income taxes 103,895
----------------
1,187,803
----------------
Operating Income 294,672
----------------
Other Income and (Deductions)
Other (5,661)
Non-operating income taxes 8,257
----------------
2,596
----------------
Income Before Interest Charges 297,268
----------------
Interest Charges
Interest on long-term debt 87,413
Distributions on Trust Preferred Securities 12,000
Interest on short-term debt and other 19,498
Allowance for borrowed funds used during construction (4,531)
----------------
114,380
----------------
Net Income 182,888
Less: Preferred stock dividends 6,931
(Loss) on reaquired perferred stock (2,763)
================
Net Income for Common Stock $ 173,194
================
<PAGE>
Public Service Company of Oklahoma Exhibit 2 (b)
Consolidated Statement of Income (unaudited) Page 1 of 1
- -------------------------------------------------------------------------------
Twelve Months
Ended December 31,
1999
------------------
(thousands)
Electric Operating Revenues $ 749,390
----------------
Operating Expenses and Taxes
Fuel 269,316
Purchased power 74,893
Other operating 120,123
Maintenance 45,809
Depreciation and amortization 74,736
Taxes, other than income 30,519
Income taxes 34,184
----------------
649,580
----------------
Operating Income 99,810
----------------
Other Income and (Deductions)
Allowance for equity funds used during construction 201
Other (1,470)
Non-operating income taxes 2,215
----------------
946
----------------
Income Before Interest Charges 100,756
----------------
Interest Charges
Interest on long-term debt 26,528
Interest on short-term debt and other 7,058
Distributions on Trust Preferred Securities 6,000
Allowance for borrowed funds used during construction (1,435)
----------------
38,151
----------------
Net Income 62,605
Less: Preferred stock dividends 213
----------------
Net Income for Common Stock $ 62,392
================
<PAGE>
Southwestern Electric Power Company Exhibit 2 (c)
Consolidated Statement of Income (unaudited) Page 1 of 1
- -------------------------------------------------------------------------------
Twelve Months
Ended December 31,
1999
------------------
(thousands)
Electric Operating Revenues $ 965,027
----------------
Operating Expenses and Taxes
Fuel 379,597
Purchased power 37,371
Other operating 141,674
Maintenance 64,241
Depreciation and amortization 102,331
Taxes, other than income 53,783
Income taxes 38,506
----------------
817,503
----------------
Operating Income 147,524
----------------
Other Income and (Deductions)
Allowance for equity funds used during construction 35
Other (6,826)
Non-operating income taxes 4,826
----------------
(1,965)
----------------
Income Before Interest Charges 145,559
----------------
Interest Charges
Interest on long-term debt 38,380
Distributions on Trust Preferred Securities 8,662
Interest on short-term debt and other 13,800
Allowance for borrowed funds used during construction (1,949)
----------------
58,893
----------------
Income Before Extraordinary Item 86,666
Extraordinary loss (net of tax benefit of $1,621) (3,011)
----------------
Net Income 83,655
Less: Preferred stock dividends 229
================
Net Income for Common Stock $ 83,426
================
<PAGE>
West Texas Utilities Company Exhibit 2 (d)
Statement of Income (unaudited) Page 1 of 1
- -------------------------------------------------------------------------------
Twelve Months
Ended December 31,
1999
------------------
(thousands)
Electric Operating Revenues $ 439,709
----------------
Operating Expenses and Taxes
Fuel 123,348
Purchased power 61,532
Other operating 93,730
Maintenance 19,604
Depreciation and amortization 44,789
Taxes, other than income 28,267
Income taxes 14,275
----------------
385,545
----------------
Operating Income 54,164
----------------
Other Income and (Deductions)
Allowance for equity funds used during construction 362
Other 2,984
Non-operating income taxes (858)
----------------
2,488
----------------
Income Before Interest Charges 56,652
----------------
Interest Charges
Interest on long-term debt 20,352
Interest on short-term debt and other 4,731
Allowance for borrowed funds used during construction (663)
----------------
24,420
----------------
Income Before Extraordinary Item 32,232
Extraordinary loss (net of tax benefit of $2,941) (5,461)
----------------
Net Income 26,771
Less: Preferred stock dividends 104
================
Net Income for Common Stock $ 26,667
================
<PAGE>
Central and South West Services Exhibit 2 (e)
Statement of Income (unaudited) Page 1 of 1
- -------------------------------------------------------------------------------
Twelve Months
Ended December 31,
1999
------------------
(thousands)
Operating Expenses and Taxes
Fuel 4,732
Other operating 226,406
Maintenance 7,048
Depreciation and amortization 10,780
Taxes, other than income 8,893
Income taxes 2,661
----------------
Operating (Loss) (260,520)
Other Income and (Deductions)
Services rendered to associates 265,405
----------------
Income Before Interest Charges 4,885
Interest Charges
Interest on short-term debt and other 4,885
----------------
4,885
----------------
Net Income for Common Stock $ --
================
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