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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_____________________________________________
:
In the Matter of : CERTIFICATE
: of
CONSOLIDATED NATURAL GAS COMPANY : NOTIFICATION
Pittsburgh, Pennsylvania : NO. 11
: ____________
CNG ENERGY COMPANY :
: TRANSACTIONS
File No. 70-7909 : DURING PERIOD
(Public Utility Holding Company Act of 1935):
_____________________________________________ July 1, 1994
through
September 30, 1994
TO THE SECURITIES AND EXCHANGE COMMISSION:
By Order dated December 26, 1991 (HCAR No. 25446) ("Order") in the
above-captioned proceeding, the Securities and Exchange Commission
("Commission") permitted the Application-Declaration of Consolidated
Natural Gas Company ("Consolidated"), as amended, to become effective,
thereby authorizing Consolidated to provide up to $15 million of
financing to CNG Energy Company ("CNG Energy") for its preliminary
project development and administrative activities ("Preliminary
Activities") in connection with its possible investments in qualifying
and cogeneration facilities located within the United States. Such
activities are to be financed through: (1) the purchase of common
stock of CNG Energy; (2) open account advances from Consolidated; or
(3) long-term loans.
By Supplemental Order dated October 8, 1992 (HCAR No. 35-25651)
("Supplemental Order"), Consolidated and CNG Energy were authorized to
fund up to $50 million, through December 31, 1996, to a qualifying
cogeneration facility in Lakewood, New Jersey ("Lakewood Project").
The funding will be channeled from Consolidated to CNG Energy, from
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CNG Energy to CNG Lakewood, Inc. ("CNG Lakewood"), from CNG Lakewood
to Lakewood Cogeneration, L.P. ("Partnership") and from the
Partnership to the Lakewood Project. (Alternatively, CNG Energy may
bypass CNG Lakewood and invest directly in the Partnership.) The
funding will be financed through: (1) common stock acquisitions, (2)
open account advances, or (3) long-term loans.
This Certificate is filed in accordance with Rule 24, as a
notification that the transactions authorized by said Order and said
Supplemental Order have been carried out in accordance with the terms
and conditions of and for the purposes represented by said
Application-Declaration and said Order. A balance sheet and income
statement, as of the end of the reporting quarter, for the
Cogeneration Division of CNG Energy are set forth in Exhibits A and B.
The following table indicates the transactions carried out by CNG
Energy pursuant to the Order and the Supplemental Order for the
quarter and cumulatively:
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Transactions Transactions
Relating to Relating to
Order Supplemental Order
(Preliminary (Lakewood after
Activities) 10/8/92)
____________ ___________________
(1) Issuance of Common
Stock of CNG Energy
$1,000 par value:
For this Period -0- -0-
Cumulative -0- -0-
(2) Long-Term Loans:
For this Period -0- -0-
Cumulative -0- -0-
(3) Open Account Advances:
For this Period $ -0- $ 110,000
Cumulative 1,235,000 $1,405,000
(4) Total Financings:
For this Period $ -0- $ 110,000
Cumulative 1,235,000 $1,405,000
The "past-tense" opinion required by paragraph F(2) of the
instructions as to exhibits for Form U-1 will be filed when all of the
transactions authorized pursuant to said Orders have consummated.
CONSOLIDATED NATURAL GAS COMPANY
CNG ENERGY COMPANY
N. F. Chandler
Their Attorney
Dated this 31st day
of October, 1994
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Exhibit A
CNG Energy Company
Power Generation Division Balance Sheet
September 30, 1994 (Unaudited) (1)
(Thousands of Dollars)
Cogeneration
Assets Division
______ ____________
Property, plant and equipment
Total investment . . . . . . . . . . . . . . . . . $ 690
Less accumulated depreciation . . . . . . . . . . . 269
_______
Net property, plant and equipment . . . . . . 421
Cash . . . . . . .. . . . . . . . . . . . . . . . . . . . 10
Investments, at cost . . . . . . . . . . . . . . . . . . 5,395
Investments, at equity. . . . . . . . . . . . . . . . . . 14,014
Accounts receivable . . . . . . . . . . . . . . . . . . . 6,522
Deferred charges . . . . . . . . . . . . . . . . . . . . -0-
_______
Total assets . . . . . . . . . . . . . . . . . . $26,362
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Stockholder's Equity and Liability
__________________________________
Capitalization
Common stockholder's equity
Common stock . . . . . . . . . . . . . . . . . . . . $ 8,630
Retained earnings . . . . . . . . . . . . . . . . . . (6,773)
_______
Total common stockholder's equity. . . . . . . . 1,857
Long term notes payable to parent company . . . . . . . . 6,160
_______
Total capitalization . . . . . . . . . . . . . . 8,017
Total current liabilities . . . . . . . . . . . . . . . . 9,407
Accumulated deferred income taxes . . . . . . . . . . . . 8,938
_______
Total stockholder's equity and liabilities. . . . . . . . $26,362
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(1) This balance sheet has not been audited by the Company's
independent auditors.
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Exhibit B
CNG Energy Company
Power Generation Division Income Statement
September 30, 1994 (Unaudited)
(Thousands of Dollars)
Cogeneration
Division
____________
Total operating revenues . . . . . . . . . . . . . . . . $ 0
Total operating expenses . . . . . . . . . . . . . . . . 1,150
_______
Operating income before taxes . . . . . . . . . . . (1,150)
Total estimated income taxes . . . . . . . . . . . . . . (73)
_______
Operating Income . . . . . . . . . . . . . . . . . (1,077)
Other income . . . . . . . . . . . . . . . . . . . . . . 1,526
Interest charges . . . . . . . . . . . . . . . . . . . . 627
_______
Net income . . . . . . . . . . . . . . . . . . . . (178)
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