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CONESVILLE COAL PREPARATION COMPANY
QUARTERLY REPORT PER REQUIREMENTS
OF HOLDING COMPANY ACT RELEASE NO. 23463
BY MONTH, FOR THE QUARTER ENDED DECEMBER 31, 1998
CONTENTS
Page
Statements of Income 1
Balance Sheets 2
Statements of Quantities of Coal Processed and
Customer Billings for Coal Washing Services 3
Statements of Cost of Operation 4
Price Per Ton of Coal Deliveries 5
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CONESVILLE COAL PREPARATION COMPANY
STATEMENTS OF INCOME
BY MONTH, FOR THE QUARTER ENDED DECEMBER 31, 1998
(UNAUDITED)
<CAPTION>
Three
Months
Month Ended Ended
October 31, November 30, December 31, December 31,
1998 1998 1998 1998
(in thousands)
<S> <C> <C> <C> <C>
OPERATING REVENUES -
Services to Parent . . . . . . . . $1,003 $756 $624 $2,383
COST OF OPERATION. . . . . . . . . . 986 745 619 2,350
OPERATING INCOME . . . . . . . . . . 17 11 5 33
INTEREST CHARGES . . . . . . . . . . 6 - - 6
INCOME BEFORE FEDERAL INCOME TAXES . 11 11 5 27
FEDERAL INCOME TAX EXPENSE (CREDIT). 5 5 (1) 9
NET INCOME . . . . . . . . . . . . . $ 6 $ 6 $ 6 $ 18
The common stock of the Company is wholly
owned by Columbus Southern Power Company.
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CONESVILLE COAL PREPARATION COMPANY
BALANCE SHEETS
BY MONTH-END, FOR THE QUARTER ENDED DECEMBER 31, 1998
(UNAUDITED)
<CAPTION>
October 31, November 30, December 31,
1998 1998 1998
(in thousands)
<S> <C> <C> <C>
ASSETS
MINING PLANT:
Mining Plant in Service . . . . . . . . . . . . $ 848 $ 848 $ 841
Accumulated Amortization. . . . . . . . . . . . 534 543 548
NET MINING PLANT . . . . . . . . . . . . 314 305 293
OTHER PROPERTY AND INVESTMENTS. . . . . . . . . . 823 816 810
CURRENT ASSETS:
Cash and Cash Equivalents . . . . . . . . . . . 22 25 18
Accounts Receivable:
General . . . . . . . . . . . . . . . . . . . 6 6 6
Affiliated Companies. . . . . . . . . . . . . 1,214 1,256 923
Materials and Supplies. . . . . . . . . . . . . 820 831 817
Other . . . . . . . . . . . . . . . . . . . . . 3 15 11
TOTAL CURRENT ASSETS . . . . . . . . . . 2,065 2,133 1,775
DEFERRED FEDERAL INCOME TAXES . . . . . . . . . . 704 710 691
REGULATORY ASSETS . . . . . . . . . . . . . . . . 291 287 284
DEFERRED CHARGES. . . . . . . . . . . . . . . . . 681 1,024 1,500
TOTAL. . . . . . . . . . . . . . . . . $4,878 $5,275 $5,353
CAPITALIZATION AND LIABILITIES
SHAREHOLDER'S EQUITY:
Common Stock - Par Value $1,000:
Authorized - 500 Shares
Outstanding - 100 Shares. . . . . . . . . . . $ 100 $ 100 $ 100
Paid-in Capital . . . . . . . . . . . . . . . . 400 400 400
Retained Earnings . . . . . . . . . . . . . . . 878 884 890
TOTAL SHAREHOLDER'S EQUITY . . . . . . . 1,378 1,384 1,390
OTHER NONCURRENT LIABILITIES. . . . . . . . . . . 1,352 1,365 1,376
CURRENT LIABILITIES:
Accounts Payable:
General . . . . . . . . . . . . . . . . . . . 175 223 206
Affiliated Companies. . . . . . . . . . . . . 219 268 295
Accrued Rent. . . . . . . . . . . . . . . . . . 335 601 890
Other . . . . . . . . . . . . . . . . . . . . . 479 484 434
TOTAL CURRENT LIABILITIES. . . . . . . . 1,208 1,576 1,825
DEFERRED GAIN ON SALE OF PLANT. . . . . . . . . . 749 730 710
REGULATORY LIABILITIES. . . . . . . . . . . . . . 191 220 52
TOTAL. . . . . . . . . . . . . . . . . $4,878 $5,275 $5,353
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CONESVILLE COAL PREPARATION COMPANY
STATEMENTS OF QUANTITIES OF COAL PROCESSED AND
BILLINGS FOR COAL WASHING SERVICES
BY MONTH, FOR THE QUARTER ENDED DECEMBER 31, 1998
<CAPTION>
Services Rendered to
Columbus Southern Raw Clean
Power Company's Coal Coal Service
Conesville Plant* Input Rejects Output Unit Price Billings
(Month/Year) (tons) (tons) (tons) (per ton) (000)
<S> <C> <C> <C> <C> <C>
October 1998 . . . . . . . . 278,859 44,161 234,698 $4.27 $1,003
November 1998. . . . . . . . 253,391 35,251 218,140 $3.46 $756
December 1998. . . . . . . . 212,274 29,597 182,677 $3.41 $624
* Jointly owned by Cincinnati Gas & Electric Company, Dayton Power & Light Company
and Columbus Southern Power Company, the parent of Conesville Coal Preparation
Company.
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CONESVILLE COAL PREPARATION COMPANY
STATEMENTS OF COST OF OPERATION
BY MONTH, FOR THE QUARTER ENDED DECEMBER 31, 1998
<CAPTION>
Three
Months
October November December Ended
1998 1998 1998 12/31/97
(in thousands)
<S> <C> <C> <C> <C>
Labor-UMW*. . . . . . . . . . . . . . . . . . . $100 $ 86 $ 84 $ 270
Benefits-UMW* . . . . . . . . . . . . . . . . . 67 70 86 223
Office Salaries and Benefits. . . . . . . . . . 62 75 90 227
Operating Materials . . . . . . . . . . . . . . 70 26 43 139
Maintenance - Materials and Services. . . . . . 70 64 118 252
Electricity . . . . . . . . . . . . . . . . . . 48 54 61 163
Other Billed Services . . . . . . . . . . . . . 119 (13) 39 145
Rent. . . . . . . . . . . . . . . . . . . . . . 320 321 320 961
Amortization of Deferred Gain on Sale of Plant. (20) (19) (20) (59)
Depreciation. . . . . . . . . . . . . . . . . . 2 3 3 8
Cleaning Cost Normalization** . . . . . . . . . 49 30 (220) (141)
Other . . . . . . . . . . . . . . . . . . . . . 99 48 15 162
Total . . . . . . . . . . . . . . . . . . $986 $745 $ 619 $2,350
* United Mine Workers of America.
** Represents the deferral/accrual required to establish revenue based on fore-
casted results for the remainder of the year. The amount of cleaning cost
normalization is established on an "overall" company basis (i.e., not itemized)
and is eliminated by year-end.
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COLUMBUS SOUTHERN POWER COMPANY
PRICE PER TON OF COAL DELIVERIES
BY MONTH, FOR THE QUARTER ENDED DECEMBER 31, 1998
<CAPTION>
October November December
1998 1998 1998
<S> <C> <C> <C>
Clean Coal Deliveries from Conesville Coal
Preparation Plant (a) . . . . . . . . . . . . . . . . $40.06 * $38.17 * $36.36 *
Notes: (a) Coal cleaned by Conesville Coal Preparation Plant and delivered to Columbus
Southern Power's Conesville Generating Plant. These deliveries of clean coal
will normally consist of coal cleaned from beginning inventory as well as
current month deliveries.
* Average price per ton.
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