SECURITIES AND EXCHANGE
COMMISSION
Washington, D.C.
FORM U-3A-2
STATEMENT BY HOLDING COMPANY
CLAIMING EXEMPTION
UNDER RULE U-3A-2 FROM THE
PROVISIONS OF THE
PUBLIC UTILITY HOLDING COMPANY
ACT OF 1935
*****
File No. 69-291
Texas-New Mexico Power Company
(Name of Company)
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 (Act), and submits the following
information:
1. The name, State of organization, location and nature of business of
claimant and every subsidiary thereof:
State of Location
Name Organization Nature of Business
_______ _______________ ____________________
Texas-New Mexico Power Company Texas P. O. Box 2943
Ft. Worth, Texas
76113
Electric Utility/
Holding Company
Texas Generating Company Texas P. O. Box 2943
Ft. Worth, Texas
76113
Special purpose
corporation
Texas Generating Company II Texas P. O. Box 2943
Ft. Worth, Texas
76113
Special purpose
corporation
2. Following is a brief description of the properties of claimant and of
each of its wholly owned public utility subsidiaries, Texas Generating Company
(TGC) and Texas Generating Company II (TGC II), used for the generation,
transmission and distribution of electric energy for sale, indicating the
location of principal generating plants, transmission lines and distribution
facilities including all such properties which are outside the State in which
claimant and its subsidiaries are organized, and all transmission lines which
deliver or receive electric energy at the borders of such States:
Texas-New Mexico Power Company (TNP) serves approximately 217,000 customers
in a total of 85 municipalities and adjacent rural areas. TNP is a subsidiary of
TNP Enterprises, Inc., a public utility holding company exempt under Section
3(a)(1) of the Act.
Within Texas, TNP is a regulated public utility engaged in the generation,
transmission, distribution and sale of electric energy. TNP has two operating
regions throughout Texas. The largest municipalities within Texas served by TNP
are Texas City, Lewisville, and La Marque. The regions located in the State of
Texas are as follows:
- North Central Region. Electric transmission and distribution systems
serving 56 communities in northeastern and central Texas. The region
is based at Lewisville, Texas.
- Gulf Coast Region. Electric transmission and distribution systems
serving 14 communities in southeastern Texas. The region is based at
Texas City, Texas.
- Mountain Region. TNP has one region in the southwestern portion of
Texas and in the southern portion of New Mexico which operates
electric transmission and distribution facilities. The largest
municipalities served by TNP are Silver City, Alamogordo, and Ruidoso,
New Mexico. The region serves 6 communities in southwestern Texas and
9 in southern New Mexico. The Mountain region is based at Silver City,
New Mexico.
Generating facilities owned by TNP and the subsidiaries are located within
Robertson County, Texas, which is in the central part of Texas. The generating
facilities are referred to as 150 MW, circulating fluidized bed units currently
using lignite as the fuel source. TNP also has a transmission line connecting
these units to a major transmission grid in Texas. Electricity from these units
is sold by TNP solely within Texas. Neither the claimant nor any of its
subsidiaries own transmission lines which deliver or receive electricity at the
border of Texas.
Within New Mexico, TNP is a regulated public utility engaged in the
generation, transmission, distribution and sale of electric energy. A portion of
the Mountain Region serves southern New Mexico, as described above.
3. Certain information, for the calendar year 1996 with respect to claimant
and its subsidiaries, is provided in the following chart:
<TABLE>
<CAPTION>
Summary Sheet
Texas (1) New Mexico Total System
------------ ------------- -------------
<S> <C> <C> <C>
Operating Revenues $ 432,605 $ 70,132 $ 502,737
Total Customers 174,154 43,865 218,019
79.9% 20.1% 100.0%
MWH Sold:
Wholesale 3,534 - 3,534
Retail 6,242,949 1,615,541 7,858,490
Total System 6,246,483 1,615,541 7,862,023
MWH Purchased 4,086,446 1,682,727 5,769,173
</TABLE>
4. Neither the claimant nor any of its subsidiaries are directly or
indirectly involved with, or have an interest in either an Exempt Wholesale
Generator or a foreign utility company.
Exhibit A. A consolidating statement of operations of the claimant and
its subsidiaries for the last calendar year, 1996, together with a consolidating
balance sheet of claimant and its subsidiaries as of the close of the 1996
calendar year, is presented.
Exhibit B. A Financial Data Schedule for the period ended December 31,
1996, including Item Nos. 1, 2, and 3.
<PAGE>
The above named claimant has caused this statement to be duly executed
on its behalf by its authorized officer on this 25th day of February, 1997.
Texas-New Mexico Power Company
By /s/ M. S. Cheema
-----------------------
Corporate Seal M. S. Cheema
Attest: Senior Vice President -
Chief Financial Officer
/s/ M. D. Blanchard
- -------------------
M. D. Blanchard
Secretary
The name, title and address of the officer to whom notices and correspondence
concerning this statement should be addressed is:
M. D. Blanchard Secretary
---------------------- -----------------------
Name Title
P. O. Box 2943, Fort Worth, Texas 76113
-----------------------------------------------
Address
<PAGE>
<TABLE>
<CAPTION>
TEXAS-NEW MEXICO POWER COMPANY AND SUBSIDIARIES
(a wholly owned subsidiary of TNP Enterprises, Inc.)
CONSOLIDATING STATEMENTS OF INCOME (LOSS)
For the Year Ended December 31, 1996
(Amounts in Thousands)
Texas-New
Texas-New Texas Texas Consol. Mexico Power
Mexico Power Generating Generating Entries Company
Company Company Company II Consolidated
-----------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
OPERATING REVENUES $ 502,737 $ 4,312 $ 5,625 $ (9,937) $ 502,737
---------- ----------- ----------- ---------- ------------
OPERATING EXPENSES:
Purchased power 196,481 196,481
Fuel 47,201 47,201
Other operating and general
expenses 83,213 (9,937) 73,276
Maintenance 10,672 10,672
Depreciation of utility plant 28,233 4,312 5,625 38,170
Taxes other than income taxes 32,727 32,727
Income taxes 10,235 98 10,333
---------- ----------- ----------- ---------- ------------
Total Operating Expenses 408,762 4,410 5,625 (9,937) 408,860
---------- ----------- ----------- ---------- ------------
NET OPERATING INCOME (LOSS) 93,975 (98) - - 93,877
---------- ----------- ----------- ---------- ------------
OTHER INCOME (LOSS):
Other income and deductions, net 1,521 13 5 87 1,626
Income taxes 729 (5) (2) 722
---------- ----------- ----------- ---------- ------------
Other income (loss), net of
taxes 2,250 8 3 87 2,348
---------- ----------- ----------- ---------- ------------
INCOME (LOSS) BEFORE
INTEREST CHARGES 96,225 (90) 3 87 96,225
Interest charges 69,363 69,363
---------- ----------- ----------- ---------- ------------
NET INCOME (LOSS) 26,862 (90) 3 87 26,862
Dividends on preferred stock 167 167
---------- ----------- ----------- ---------- ------------
INCOME (LOSS) APPLICABLE
TO COMMON STOCK $ 26,695 $ (90) $ 3 $ 87 $ 26,695
========== =========== =========== ========== ============
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
TEXAS-NEW MEXICO POWER COMPANY AND SUBSIDIARIES
(a wholly owned subsidiary of TNP Enterprises, Inc.)
CONSOLIDATING BALANCE SHEET
December 31, 1996
(Amounts in Thousands)
Texas-New
Texas-New Texas Texas Mexico Power
Mexico Power Generating Generating Consol. Company
Company Company Company II Entries Consolidated
<S> <C> <C> <C> <C> <C>
------------------------------------------------------------------------
ASSETS
UTILITY PLANT $ 833,511 $ 170,000 $ 212,750 $ - $ 1,216,261
Less: accumulated depreciation 226,126 27,212 28,984 282,322
----------- ----------- ---------- ----------- ------------
Net Utility Plant 607,385 142,788 183,766 - 933,939
----------- ----------- ---------- ----------- ------------
INVESTMENT IN SUBSIDIARY COMPANIES (79,823) 79,823 -
TNP ONE REPLACEMENT NOTES 417,750 (417,750) -
OTHER PROPERTY AND INVEST., at cost 1,884 1,884
CURRENT ASSETS:
Cash and cash equivalents 4,875 128 112 5,115
Intercompany accounts receivable 110,075 30,859 137,302 (277,635) 601
Other current assets 24,932 24,932
Deferred purchased power and
fuel costs 3,565 3,565
----------- ----------- ---------- ----------- ------------
Total current assets 143,447 30,987 137,414 (277,635) 34,213
----------- ----------- ---------- ----------- ------------
DEFERRED CHARGES 32,121 32,121
----------- ----------- ---------- ----------- ------------
$1,122,764 $ 173,775 $ 321,180 $ (615,562) $ 1,002,157
=========== =========== ========== =========== ============
CAPITALIZATION AND LIABILITIES
CAPITALIZATION:
Common shareholder's equity:
Common stock $ 107 $ 10 $ 10 $ (20) $ 107
Capital in excess of par value 222,133 222,133
Retained earnings 65,308 (54,681) (25,162) 79,843 65,308
----------- ----------- ---------- ----------- ------------
Total common share-
holder's equity 287,548 (54,671) (25,152) 79,823 287,548
Redeemable cumulative
preferred stock 3,420 3,420
Long-term debt, less current
maturities 533,800 205,000 212,750 (417,750) 533,800
----------- ----------- ---------- ----------- ------------
Total capitalization 824,768 150,329 187,598 (337,927) 824,768
----------- ----------- ---------- ----------- ------------
CURRENT LIABILITIES:
Current maturities of long-term
debt 100 100
Accounts payable 27,254 27,254
Intercompany accounts payable 80,683 50,599 146,353 (277,635) -
Other current liabilities 111,546 (40,846) (29,265) 41,435
----------- ----------- ---------- ----------- ------------
Total current liabilities 219,583 9,753 117,088 (277,635) 68,789
----------- ----------- ---------- ----------- ------------
REGULATORY TAX LIABILITIES 11,785 (537) (285) 10,963
ACCUMUALTED DEFERRED INCOME TAXES 34,851 14,230 16,779 65,860
ACCUMULATED DEFERRED ITC 19,164 19,164
DEFERRED CREDITS 12,613 12,613
----------- ----------- ---------- ----------- ------------
$1,122,764 $ 173,775 $ 321,180 $ (615,562) $ 1,002,157
=========== =========== ========== =========== ============
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
TEXAS-NEW MEXICO POWER COMPANY AND SUBSIDIARIES
EXHIBIT B: Financial Data Schedule
For the Period Ending December 31, 1996
(Amounts in Thousands)
<S> <C> <C>
Item No. Caption Heading Amount
- ---------- --------------------------- ----------------
1 Total Assets $ 1,002,157
2 Total Operating Revenues 502,737
3 Net Income (Loss) 26,862
</TABLE>
