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SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
____________________________________________
CONSOLIDATED NATURAL GAS COMPANY :
Pittsburgh, Pennsylvania :
:
CNG COAL COMPANY :
CNG PRODUCING COMPANY :
CNG PIPELINE COMPANY :
CNG RESEARCH COMPANY : MASTER
CNG POWER SERVICES CORPORATION : CERTIFICATE
CNG POWER COMPANY : OF
CNG TRANSMISSION CORPORATION : NOTIFICATION
CNG PRODUCTS AND SERVICES, INC. : NO. 14
CNG RETAIL SERVICES CORPORATION :
CNG MARKET CENTER SERVICES, INC. :
CNG FINANCIAL SERVICES, INC. : TRANSACTIONS
CONSOLIDATED NATURAL GAS SERVICE : DURING PERIOD
COMPANY, INC. : _____________
CONSOLIDATED SYSTEM LNG COMPANY :
HOPE GAS, INC. : July 1, 1999
THE EAST OHIO GAS COMPANY : through
THE PEOPLES NATURAL GAS COMPANY : September 30, 1999
VIRGINIA NATURAL GAS INC. :
:
File No. 70-8667 (Part A) :
:
Also Reported at Part B :
File Nos. 70-7258, 70-7508, 70-7641, :
70-8577, 70-8853, and 70-8883 :
:
:
(Public Utility Holding Company Act of 1935) :
____________________________________________ :
TO THE SECURITIES AND EXCHANGE COMMISSION:
This Master Certificate contains the Rule 24 certificates required to
be filed on a periodic basis for File No. 70-8667 and various other files
in order to eliminate the burden of making numerous separate individual
filings. This Certificate is filed in accordance with Rule 24 under the
Public Utility Holding Company Act of 1935 (the "Act"), as a notification
that of the various transactions authorized under the orders issued in the
proceedings identified in the above caption, the following have been
carried out in accordance with the terms and conditions of and for the
purposes represented by the respective Application-Declarations and the
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orders. The Master Certificate thus acts as a compilation of the various
other certificates and incorporates all Rule 24 reporting from the other
captioned proceedings.
By Order dated March 28, 1996, HCAR No. 26500, ("Financing Order")
under File No. 70-8667, the Securities and Exchange Commission ("SEC")
permitted the "Omnibus Financing" Application-Declaration of Consolidated
Natural Gas Company ("Consolidated" or "CNG") and its above-mentioned
subsidiaries ("Subsidiaries") to become effective, thereby authorizing
Consolidated and its Subsidiaries to engage in various financing and
related transactions through March 31, 2001. Part A contains reporting on
external and intrasystem financing of the Consolidated system as required
by the Financing Order.
Part B contains reporting required by other SEC orders in the captioned
proceedings. The information is subdivided by SEC file number. Rule 52
transactions (Form U-6B-2) and any order-specific financial information
(i.e., income statements, balance sheets) are filed as exhibits to Part A
and Part B, respectively, as appropriate.
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PART A
EXTERNAL FINANCING BY CONSOLIDATED
File No. 70-8667:
1. Sale of CNG Common Stock.
During the quarter, Consolidated issued from its authorized but
unissued shares a total of 125 shares of common stock valued at $7,770 to
satisfy share obligations of its employee benefit plans.
2. Short Term Debt.
During the period, Consolidated issued and sold commercial paper. The
maximum amount of Consolidated's commercial paper outstanding at any time
during this period was $845,800,000 principal amount; the principal
amount of commercial paper outstanding on September 30, 1999 was
$560,300,000.
There were no borrowings or repayments of borrowings under commercial
paper backup lines of credit during the reporting period.
3. Long Term Debt.
No long-term debt was issued by Consolidated during the reporting
period.
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INTRASYSTEM FINANCING
4. Financing by Parent of Its Subsidiaries
The stock and debt transactions described below between Consolidated
and its Subsidiaries occurred under exemptions pursuant to Rule 52 and are
not part of the authorizations under this file number. The proceeds of
such transactions are used by the Subsidiaries in their respective
businesses.
a. Sales of Capital Stock to Consolidated by Subsidiaries.
None.
b. Long-term debt transactions occurring during the period.
None.
c. Guarantees
From time to time Consolidated enters into guarantee agreements,
primarily with respect gas or electric power purchases or delivery
performances of its subsidiaries. The estimated total exposure on these
guarantees as of September 30, 1999 is approximately $211.8 million. Of
this amount unrelated third parties were primarily liable for approximately
$36.9 million of guarantees. The guarantees expire at various dates, the
latest of which is July 1, 2027.
5. Subsidiary Long-term Debt Transactions.
There were no long-term debt transactions of Subsidiaries to be
reported for the quarter.
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6. Subsidiary Stock Buy Back Transactions.
There were no Subsidiary stock buy back transactions to be reported for
the quarter.
PART B
RULE 24 CERTIFICATES REQUIRED BY OTHER SEC ORDERS
File No. 70-7258:
By orders dated June 12 and July 16, 1986 (HCAR Nos. 24128 and 24150),
as amended by orders dated May 27, 1987 (HCAR No. 24399), February 14, 1990
(HCAR No. 25040), May 13,1991 (HCAR No. 25311), April 8, 1994 (HCAR No.
26021), and July 18, 1997 (HCAR No. 26742), the SEC permitted the
application-declaration of Consolidated and subsidiaries to become
effective, thereby authorizing the establishment of a Consolidated System
Money Pool ("Money Pool").
This Certificate is filed in accordance with Rule 24, as a notification
that of the various transactions authorized by said orders, the following
have been carried out in accordance with the terms and conditions of and
for the purposes represented by said application-declaration and said
orders:
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During the period, the following transactions occurred:
Consolidated Natural Gas Company (In Thousands)
Beginning Ending
Balance Contributions Withdrawals Balance
_______________ _______________ _______________ _______________
$414,729 $920,489 $391,169 $944,049
Subsidiaries (In Thousands)
Beginning Ending
Company Balance Contributions Withdrawals Balance
_________ _________ _____________ ___________ _________
The East Ohio Gas Co. ($117,265) $59,394 $203,086 ($260,957)
The Peoples Natural
Gas Company (25,111) 21,440 63,040 (66,711)
Hope Gas, Inc. (34,752) 21,411 22,594 (35,935)
Virginia Natural Gas, Inc. (38,867) 11,835 42,392 (69,424)
CNG Transmission Corp. 23,085 84,832 149,812 (41,895)
Consolidated System
LNG Company 1,258 17 207 1,068
CNG Iroquois 7,292 1,664 312 8,644
CNG Producing Company (186,840) 135,090 268,356 (320,106)
CNG Coal Company 3,666 47 52 3,661
CNG Pipeline Co. 1,160 332 276 1,216
CNG Energy Services* 3,834 4,399 4,021 4,212
CNG Field Services Co. (452) 18,616 28,956 (10,792)
CNG Power Co. 33,641 2,134 2,446 33,329
CNG Research Company 40 0 0 40
Consolidated Natural Gas
Service Company, Inc. (27,072) 135,149 139,829 (31,752)
CNG Power Services Corp. (1,413) 2,953 3,801 (2,261)
CNG Retail Corp. (13,294) 19,852 26,643 (20,085)
CNG Market Center Services 1,142 16 82 1,076
CNG Products & Services 385 1,984 2,369 0
CNG International Corp. (7,594) 3,030 7,569 12,133)
CNG Main Pass Gas (25,120) 801 1,275 (25,594)
CNG Main Pass Oil (12,454) 333 654 (12,775)
* Parent company balances residual from the sale of CNG Energy Services
Corporation to an unaffiliated purchaser.
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File No. 70-7641:
By orders dated January 9, 1991, February 28, 1991, May 7, 1991, July
6, 1993 and September 12, 1996 (HCAR Nos. 25239, 25263, 25308, 25845 and
26571, respectively) ("Orders"), in the above-captioned proceeding, the SEC
permitted the application-declaration of CNG Transmission Corporation
("Transmission") and CNG Iroquois, Inc. ("CNGI"), as amended, to become
effective. The Orders authorized Transmission to provide financing to CNGI
through the purchase of common stock of CNGI and/or the making of open
account advances to CNGI to allow CNGI to acquire interests in Iroquois Gas
Transmission, L.P. ("Iroquois"). CNGI currently has a 16% general
partnership interest in Iroquois, which owns and operates an interstate
natural gas pipeline extending from the Canadian border to Long Island, New
York. Future financings with respect to CNGI's interest in Iroquois is
expected to occur pursuant to Rule 52.
Transmission and CNGI were also authorized by the September 12, 1996
order to provide guaranties and indemnities on behalf of CNGI and Iroquois,
respectively. The current authorization for up to an aggregate of $20
million in such credit support extends to June 30, 2001. No credit support
has been extended during the reporting period pursuant to the September 12,
1996 order.
As of September 30, 1999, CNGI had 2,394 shares of common stock
outstanding. CNGI's total direct investment in Iroquois (not including
retained cash distributions of $10,436,000) was $26,836,000 as of September
30, 1999. CNGI received a cash distribution of $1,600,000 during the
period.
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File No. 70-8577:
By Order dated August 28, 1995 ("Order"), HCAR No. 26363, in the above-
captioned proceeding, the Securities and Exchange Commission authorized
Consolidated and CNG Energy Services Corporation ("Energy Services"), a
then wholly-owned subsidiary of Consolidated, to engage in the business of
providing ten categories of energy-related services ("Customer Services")
to customers of CNG's local distribution companies and to others, primarily
customers of utilities not affiliated with CNG. The Order expires on
December 31, 2000.
Energy Services formed a new special-purpose subsidiary, CNG Products
and Services, Inc. ("CNGP&S"), in 1995 to engage in the new business. The
newly formed company was originally called "CNG Special Products and
Services, Inc.", but the name was changed to CNG Products and Services,
Inc. effective November 20, 1995. CNGP&S became a directly owned
subsidiary of Consolidated in connection with the sale by Consolidated of
Energy services on July 31, 1998 to an unaffiliated third party. See SEC
order dated July 29, 1998, HCAR No. 26900.
By order dated August 27, 1997, HCAR No. 26757, the SEC authorized
CNGP&S to provide five additional categories of services, an enhanced
version of an already authorized category of service, and certain
incidental products and services related to the approved categories.
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This quarterly certificate is filed in accordance with Rule 24, as a
notification that of the various transactions authorized, the following
have been carried out in accordance with the terms and conditions of the
Order.
Filed separately as Exhibit 8577A under a request for confidential
treatment pursuant to Rule 104(b) are financial statements of CNGP&S.
1. Description of Revenues.
See Exhibit 8577A.
2. State Commission Orders.
There are no state commission orders or post-transaction audit
documents relating to CNGP&S to be filed.
3. Services Provided by Affiliates to CNGP&S.
See Exhibit 8577A.
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File No. 70-8853:
By Order dated August 2, 1996, HCAR No. 26551, the Commission
authorized CNG to issue parent guarantees through March 31, 2001, for CNG
Power Services Corporation ("Power Services") its wholly-owned subsidiary
for amounts not to exceed $250 million outstanding at any time. Power
Services was during the period engaged in the purchase and sale of
electricity at wholesale.
Reference is made to the disclosure under "INTRASYSTEM FINANCING"
Section 4(c) above. Of the total guarantee exposure stated there, $75.9
million relates to guarantees on behalf of Power Services.
File No. 70-8883:
By order dated January 15, 1997, HCAR No. 26652, the SEC authorized
Energy Services to invest, through December 31, 2001, up to $250 million to
expand its business to market electricity and other energy commodities and
to engage in fuel management and other incidental related activities. In
pursuit of such activities, Energy Services was authorized to acquire
interests in other entities. Such entities may be corporations,
partnerships, limited liability companies, joint ventures or other types of
entities in which Energy Services might have a 100% interest, a majority
interest equity or debt position, or a minority equity or debt position.
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CNG Retail Services Corporation ("CNG Retail") was formed on January
30, 1997 pursuant to the order to engage in the business of selling natural
gas and other products at retail. Pursuant to HCAR No. 26900, dated July
29, 1998, CNG Retail succeeded to the authorizations and reporting
obligations under File No. 70-8883 subsequent to the sale of Energy
Services by CNG to an unaffiliated party.
This quarterly certificate is filed in accordance with Rule 24, as a
notification that of the various transactions authorized, the following
have been carried out in accordance with the terms and conditions of the
aforesaid order.
1. Financial Statements.
A balance sheet and income statement for CNG Retail are filed
separately as Exhibit 8883A under a request for confidential treatment
pursuant to Rule 104(b).
2. Source of Revenues.
In view of the cessation of Energy Services as an affiliate company in
the CNG system, the ratios formerly required under this heading can no
longer be provided.
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3. FERC Filings.
The transaction information contained in the attachment to the CNG
Retail power marketing informational filing made with the FERC during the
quarter is filed separately as Exhibit 8883B under a claim for confidential
treatment pursuant to Rule 104(b).
4. Parent Credit Support.
There were no new parent credit support agreements entered on behalf of
CNG Retail during the reporting period.
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Each respective "past tense" opinion required by paragraph F(2) of
the instructions as to exhibits for Form U-1 will be filed when all
transactions authorized under the respective order have been consummated.
CONSOLIDATED NATURAL GAS COMPANY
CNG COAL COMPANY
CNG PRODUCING COMPANY
CNG PIPELINE COMPANY
CNG RESEARCH COMPANY
CNG FIELD SERVICES COMPANY
CNG POWER COMPANY
CNG TRANSMISSION CORPORATION
CNG PRODUCTS AND SERVICES, INC.
CNG MARKET CENTER SERVICES, INC.
CNG FINANCIAL SERVICES, INC.
CONSOLIDATED NATURAL GAS SERVICE
COMPANY, INC.
CONSOLIDATED SYSTEM LNG COMPANY
HOPE GAS, INC.
THE EAST OHIO GAS COMPANY
THE PEOPLES NATURAL GAS COMPANY
VIRGINIA NATURAL GAS INC.
By N. F. Chandler
Their Attorney
Dated this 29th day
of November, 1999
