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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. 16
: ____________
CNG POWER COMPANY :
(formerly CNG Energy Company) : TRANSACTIONS
: DURING PERIOD
File No. 70-7909 :
(Public Utility Holding Company Act of 1935) : October 1, 1995
_____________________________________________ through
December 31, 1995
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 CNG Power to CNG Lakewood, Inc.
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("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:
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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 Power
$1,000 par value:
For this Period -0- -0-
Cumulative -0- 10,710,000
(2) Long-Term Loans:
For this Period -0- -0-
Cumulative -0- 7,140,000
(3) Open Account Advances:
For this Period $ -0- $ -0-
Cumulative 2,140,000 $ 8,435,000
(4) Total Financings:
For this Period $ -0- $ -0-
Cumulative 2,140,000 $26,285,000
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 POWER COMPANY
(formerly CNG ENERGY COMPANY)
J. M. Hostetler
Their Attorney
Dated this 9th day
of February, 1996
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Exhibit A
CNG Power Company
Power Generation Division Balance Sheet
December 31, 1995 (Unaudited) (1)
(Thousands of Dollars)
Power
Generation
Assets Division
______ ____________
Property, plant and equipment
Total investment . . . . . . . . . . . . . . . . . $ 690
Less accumulated depreciation . . . . . . . . . . . 320
_______
Net property, plant and equipment 370
Cash . . . . . . . . . . . . . . . . . . . . . . . . . . 0
Investments, at cost . . . . . . . . . . . . . . . . . . 5,161
Investments, at equity . . . . . . . . . . . . . . . . . 25,385
Accounts receivable . . . . . . . . . . . . . . . . . . . 13,468
Deferred charges . . . . . . . . . . . . . . . . . . . . 0
_______
Total assets . . . . . . . . . . . . . . . . $44,384
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Stockholder's Equity and Liability
__________________________________
Capitalization
Common stockholder's equity
Common stock . . . . . . . . . . . . . . . . . . . . $19,340
Retained earnings . . . . . . . . . . . . . . . . . . (3,540)
_______
Total common stockholder's equity . . . . . 15,800
Long term notes payable to parent company . . . . . . . . 12,943
_______
Total capitalization . . . . . . . . . . . . 28,743
Total current liabilities . . . . . . . . . . . . . . . . 2,900
Accumulated deferred income taxes . . . . . . . . . . . . 12,741
_______
Total stockholder's equity and liabilities . . . . . . . $44,384
(1) This balance sheet has not been audited by the Company's
independent auditors.
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Exhibit B
CNG Power Company
Power Generation Division Income Statement
December 31, 1995 (Unaudited)
(Thousands of Dollars)
Power
Generation
Division
____________
Total operating revenues . . . . . . . . . . . . . . . . $ 29
Total operating expenses . . . . . . . . . . . . . . . . 775
Operating income before taxes . . . . . . . . . . . (746)
_______
Total estimated income taxes . . . . . . . . . . . . . . 1,560
Operating income . . . . . . . . . . . . . . . . . (2,306)
Other income . . . . . . . . . . . . . . . . . . . . . . 6,418
Interest charges . . . . . . . . . . . . . . . . . . . . . 1,464
_______
Net income . . . . . . . . . . . . . . . . . 2,648
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