<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_____________________________________________
:
In the Matter of : CERTIFICATE
: of
CONSOLIDATED NATURAL GAS COMPANY : NOTIFICATION
Pittsburgh, Pennsylvania : NO. 12
: ____________
CNG POWER COMPANY :
(formerly CNG Energy Company) : TRANSACTIONS
: DURING PERIOD
File No. 70-7909 :
(Public Utility Holding Company Act of 1935): October 1, 1994
_____________________________________________ through
December 31, 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 Power Company ("CNG Power") 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. (As of
January 16, 1995, CNG Energy Company changed its name to CNG Power
Company.) 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 Power 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 Power, from
<PAGE> 2
CNG Power 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 Power 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 the Order and the
Supplemental Order have been carried out in accordance with the terms
and conditions of and for the purposes represented by the
Application-Declaration and the Order. A balance sheet and income
statement, as of the end of the reporting quarter, for the
Cogeneration Division of CNG Power are set forth in Exhibits A and B.
The following table indicates the transactions carried out by CNG
Power pursuant to the Order and the Supplemental Order for the quarter
and cumulatively:
<PAGE> 3
Transactions Transactions
Relating to Relating to
Order Supplemental Order
(Preliminary (Lakewood after
Activities) 10/8/92)
____________ ___________________
(1) Issuance of Common
Stock of CNG Power
$1,000 par value:
For this Period -0- 10,710
Cumulative -0- 10,710
(2) Long-Term Loans:
For this Period -0- 7,140
Cumulative -0- 7,140
(3) Open Account Advances:
For this Period $ 100,000 $ -0-
Cumulative 2,095,000* $ 1,405,000
(4) Total Financings:
For this Period $ 100,000 $17,850,000
Cumulative 2,095,000 $19,255,000
*Open Account Advances cumulative total reflects $760,000 of prior
period adjustments.
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 POWER COMPANY
(formerly CNG ENERGY COMPANY)
N. F. Chandler
Their Attorney
Dated this 31st day
of January, 1995
<PAGE> 1
Exhibit A
CNG Power Company
Power Generation Division Balance Sheet
December 31, 1994 (Unaudited) (1)
(Thousands of Dollars)
Cogeneration
Assets Division
______ ____________
Property, plant and equipment
Total investment . . . . . . . . . . . . . . . . . $ 690
Less accumulated depreciation . . . . . . . . . . . 280
_______
Net property, plant and equipment 410
Cash . . . . . . . . . . . . . . . . . . . . . . . . . . 0
Investments, at cost . . . . . . . . . . . . . . . . . . 5,395
Investments, at equity . . . . . . . . . . . . . . . . . 24,978
Accounts receivable . . . . . . . . . . . . . . . . . . . 14,002
Deferred charges . . . . . . . . . . . . . . . . . . . . 169
_______
Total assets . . . . . . . . . . . . . . . . $44,954
=======
Stockholder's Equity and Liability
__________________________________
Capitalization
Common stockholder's equity
Common stock . . . . . . . . . . . . . . . . . . . . $19,340
Retained earnings . . . . . . . . . . . . . . . . . . (6,188)
_______
Total common stockholder's equity . . . . . 13,152
Long term notes payable to parent company . . . . . . . . 13,300
_______
Total capitalization . . . . . . . . . . . . 26,452
Total current liabilities . . . . . . . . . . . . . . . . 9,067
Accumulated deferred income taxes . . . . . . . . . . . . 9,435
_______
Total stockholder's equity and liabilities . . . . . . . $44,954
(1) This balance sheet has not bee audited by the Company's
independent auditors.
<PAGE> 1
Exhibit B
CNG Power Company
Power Generation Division Balance Sheet
December 31, 1994 (Unaudited)
(Thousands of Dollars)
Cogeneration
Division
____________
Total operating revenues . . . . . . . . . . . . . . . . $ 52
Total operating expenses . . . . . . . . . . . . . . . . 1,442
Operating income before taxes . . . . . . . . . . . (1,390)
_______
Total estimated income taxes . . . . . . . . . . . . . . 53
Operating income . . . . . . . . . . . . . . . . . (1,443)
Other income . . . . . . . . . . . . . . . . . . . . . . 2,334
Interest charges . . . . . . . . . . . . . . . . . . . . . 914
_______
Net income . . . . . . . . . . . . . . . . . (23)
=======
