File No. 69-244
------
UNITED STATES
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
To Be Filed Annually Prior to March 1
CONNECTICUT ENERGY CORPORATION
------------------------------
(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, and submits the following
information:
1(a) The name, State of organization, location and nature of
business of the claimant and every subsidiary thereof, other than any exempt
wholesale generator ("EWG") or foreign utility company in which the claimant
directly or indirectly holds an interest are as follows:
The name of the claimant is Connecticut Energy Corporation
(the "claimant"). The claimant is incorporated under the laws of the State
of Connecticut. Its principal place of business and executive offices are
located at 855 Main Street, Bridgeport, Connecticut 06604. The claimant is
not an operating company. The business of the claimant consists of investing
in, disposing of, buying, selling and otherwise dealing in the stock, bonds,
securities and properties of the other corporations listed below in 1(b).
1(b) The name, State of organization, location and nature of business
of every subsidiary of the claimant thereof, other than any EWG or foreign
utility company in which the claimant directly or indirectly holds an interest
are as follows:
(i) The Southern Connecticut Gas Company ("Southern").
Southern is incorporated under the laws of the State of
Connecticut and has its executive offices located at
855 Main Street, Bridgeport, Connecticut 06604. Southern
is principally engaged in the retail distribution and sale
of natural gas for domestic, commercial and industrial uses
in southern Connecticut, primarily in the New Haven and
Bridgeport areas. Incidental to the sale of gas, Southern
sells gas water heaters and space heaters. Southern is
subject to the jurisdiction of the Connecticut Department
of Public Utility Control as to accounting, rates, charges,
certain operating matters and the issuance of securities
other than borrowings maturing in twelve months or less.
(ii) Connecticut Energy Development Corporation ("CEDC"). CEDC
is incorporated under the laws of the State of Connecticut
and has its executive offices located at 855 Main Street,
Bridgeport, Connecticut 06604. CEDC was formed in December
1994 and is participating as an equity holder in an entity
formed to purchase and market natural gas and could
potentially participate in other nonregulated activities.
(iii) Total Energy Services Group, Inc. ("TESG"). TESG is
incorporated under the laws of the State of Connecticut and
has its executive offices located at 855 Main Street,
Bridgeport, Connecticut 06604. TESG was formed in August
1995 and is initially expected to engage in nonregulated
activities relating to the selling, planning, purchasing
and management of various energy commoditites and services
to commercial and industrial end users.
2. A brief description of the properties of the claimant and its
subsidiary public utility company is as follows:
(a) The claimant -- The claimant has no properties other than
the common stock of the subsidiary described above in
1(b)(i).
(b) Southern -- A major portion of Southern's physical
assets consists of gas distribution facilities. As of
December 31, 1995, Southern had 2,083 miles of main and
121,094 service connections. Southern leases its corporate
headquarters building in Bridgeport and leases an operating
facility in Orange. It also owns a propane air facility in
Trumbull and certain properties in Bridgeport and New Haven
that were formerly utilized as operating facilities.
Southern leases an LNG plant in Milford. All of such assets
of Southern are located in the State of Connecticut.
Substantially all of Southern's utility properties and
plant are subject to the lien of the indenture securing its
first mortgage bonds. Southern has no producing field, gas
manufacturing plants, or pipelines which receive gas at the
Connecticut border.
3. During the last calendar year and to date, only Southern has
been an operating public utility company, and the following information,
therefore, relates to it alone:
(a) During the calendar year 1995, Southern distributed
30,110,176 MCF of natural or manufactured gas at retail.
(b) None
(c) During the calendar year 1995, Southern sold 2,047,682 MCF
of natural or manufactured gas outside Connecticut or at
the Connecticut border.
(d) During the calendar year 1995, Southern purchased
33,051,363 MCF of natural or manufactured gas outside
Connecticut or at the Connecticut border.
4. The following information for the reporting period with respect
to the claimant and each interest it holds directly or indirectly in an EWG or
foreign utility company, stating monetary amounts in United States dollars:
(a) None
(b) None
(c) None
(d) None
(e) None
EXHIBIT A
Attached as Exhibit A is a consolidating statement of income and
surplus of the claimant and its subsidiary companies for calendar year 1995,
together with a consolidating balance sheet of the claimant and its
subsidiary companies as of the close of such calendar year.
EXHIBIT B
Financial Data Schedule
Submitted only in electronic format to the Securities and Exchange
Commission.
EXHIBIT C
An organizational chart showing the relationship of each EWG or
foreign utility company to associate companies in the holding-company system.
Not applicable.
The above-named claimant has caused this statement to be duly
executed on its behalf by its authorized officer on this 26th day of
February, 1996.
CONNECTICUT ENERGY CORPORATION
------------------------------
(Name of Claimant)
By \s\ Vincent L. Ammann, Jr.
--------------------------------------
Vincent L. Ammann, Jr., Vice President
and Chief Accounting Officer
(Corporate Seal)
Attest:
\s\ Carol A. Forest
- -----------------------------------------
Carol A. Forest, Vice President, Finance,
Chief Financial Officer and Treasurer
Name, title and address of officer to whom notices and correspondence
concerning this statement should be addressed:
Vincent L. Ammann, Jr., Vice President and Chief Accounting Officer
- -------------------------------------------------------------------
Connecticut Energy Corporation
- ------------------------------
(Name) (Title)
855 Main Street, Bridgeport, Connecticut 06604
- -----------------------------------------------
(Address)
<TABLE>
<CAPTION>
CONNECTICUT ENERGY CORPORATION
CONSOLIDATING INCOME STATEMENT
DECEMBER 31, 1995
(UNAUDITED)
<S> <C> <C> <C> <C> <C> <C> <C>
EXHIBIT A
THE CONNECTICUT TOTAL
SOUTHERN ENERGY ENERGY ADJUSTMENTS
CONNECTICUT DEVELOPMENT SERVICES CEC ELIMINATIONS TOTAL
ACCOUNT DESCRIPTION GAS COMPANY CORPORATION GROUP, INC. HOLDING DEBIT CREDIT CEC
OPERATING REVENUES $236,344,967 $236,344,967
PURCHASED GAS 119,799,191 119,799,191
_________________________________________________________________________________________________________________________________
GROSS INCOME 116,545,776 116,545,776
OPERATING EXPENSES
OPERATIONS 48,252,984 $ 12,795 $(3,857) $ 12,108 48,274,030
MAINTENANCE 3,815,050 3,815,050
DEPRECIATION/DEPLETION/AMORTIZATION 14,311,750 14,311,750
TAXES OTHER THAN INCOME 15,406,782 15,406,782
STATE TAXES - CURRENT 1,542,332 17,686 1,560,018
FEDERAL INCOME TAXES - CURRENT 1,996,170 47,638 2,043,808
FEDERAL INCOME TAXES - DEFERRED 4,071,779 4,071,779
_________________________________________________________________________________________________________________________________
TOTAL OPERATING EXPENSES 89,396,847 12,795 (3,857) 77,432 89,483,217
OPERATING INCOME 27,148,929 (12,795) 3,857 (77,432) 27,062,559
ALLOWANCE FOR FUNDS DURING CONSTRUCTION 190,872 190,872
OTHER INCOME, NET (642,884) 165,902 $161,937 $ 15,156 (623,763)
LEASED LAND INCOME 15,156 15,156 0
_________________________________________________________________________________________________________________________________
TOTAL INCOME 26,712,073 (12,795) 3,857 88,470 177,093 15,156 26,629,668
INCOME DEDUCTIONS
INTEREST ON LONG-TERM DEBT & AMORTIZATION 10,845,205 10,845,205
OTHER INTEREST, NET 1,737,083 161,937 1,575,146
MISCELLANEOUS INCOME DEDUCTIONS 60,973 60,973
_________________________________________________________________________________________________________________________________
TOTAL INCOME DEDUCTIONS 12,643,261 161,937 12,481,324
NET INCOME TO COMMON $ 14,068,812 $(12,795) $ 3,857 $ 88,470 $177,093 $177,093 $ 14,148,344
=========== ======= ====== ======= ======= ======= ==========
</TABLE>
<TABLE>
<CAPTION>
CONNECTICUT ENERGY CORPORATION
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1995
(UNAUDITED)
<S> <C> <C> <C> <C> <C> <C> <C>
EXHIBIT A
THE CONNECTICUT TOTAL
SOUTHERN ENERGY ENERGY ADJUSTMENTS
CONNECTICUT DEVELOPMENT SERVICES CEC ELIMINATIONS TOTAL
ACCOUNT DESCRIPTION GAS COMPANY CORPORATION GROUP, INC. HOLDING DEBIT CREDIT CEC
ASSETS
UTILITY PLANT
INTANGIBLES $ 140,692 $ 140,692
PRODUCTION 2,861,281 2,861,281
STORAGE 6,462,549 6,462,549
DISTRIBUTION 320,455,042 320,455,042
GENERAL 23,290,791 23,290,791
_______________________________________________________________________________________________________________________________
SUBTOTAL 353,210,355 353,210,355
CONSTRUCTION WORK IN PROGRESS 5,516,296 5,516,296
NONUTILITY PROPERTY 2,705,273 $ 26,294 2,731,567
_______________________________________________________________________________________________________________________________
TOTAL PROPERTY, PLANT & EQUIPMENT 361,431,924 26,294 361,458,218
LESS: ACCUMULATED DEPRECIATION 110,709,597 368 110,709,965
_______________________________________________________________________________________________________________________________
NET PROPERTY, PLANT & EQUIPMENT 250,722,327 25,926 250,748,253
CURRENT ASSETS
CASH 859,495 $ 1,000 257,462 $ 2,129,554 3,247,511
ACCOUNTS RECEIVABLE:
TRADE 42,040,573 42,040,573
OTHER 893,363 141,847 170,355 1,205,565
INTERCOMPANY 150,970 791 $ 151,761 0
_______________________________________________________________________________________________________________________________
SUBTOTAL 43,084,906 141,847 171,146 151,761 43,246,138
LESS: BAD DEBT ALLOWANCE 3,538,325 3,538,325
_______________________________________________________________________________________________________________________________
NET ACCOUNTS RECEIVABLE 39,546,581 141,847 171,146 151,761 39,707,813
UNBILLED REVENUES 7,841,851 7,841,851
UNRECOVERED PURCHASED GAS COSTS 6,660,308 6,660,308
FUEL STOCK 10,552,395 10,552,395
PREPAID EXPENSES 1,991,006 1,991,006
_______________________________________________________________________________________________________________________________
TOTAL CURRENT ASSETS 67,451,636 1,000 399,309 2,300,700 151,761 70,000,884
OTHER ASSETS
INVESTMENT IN SUBSIDIARIES AND
OTHER ASSETS 50,000 2,040,000 96,598,477 96,598,477 2,090,000
UNAMORTIZED DEBT EXPENSE 6,042,856 6,042,856
OTHER DEFERRED DEBITS 67,152,011 484 123,810 128,552 $23,073 67,427,930
_______________________________________________________________________________________________________________________________
TOTAL OTHER ASSETS 73,194,867 50,484 2,163,810 96,727,029 23,073 96,598,477 75,560,786
TOTAL ASSETS $391,368,830 $51,484 $2,589,045 $99,027,729 $23,073 $96,750,238 $396,309,923
=========== ====== ========= ========== ====== ========== ===========
</TABLE>
<TABLE>
<CAPTION>
CONNECTICUT ENERGY CORPORATION
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1995
(UNAUDITED)
<S> <C> <C> <C> <C> <C> <C> <C>
EXHIBIT A
THE CONNECTICUT TOTAL
SOUTHERN ENERGY ENERGY ADJUSTMENTS
CONNECTICUT DEVELOPMENT SERVICES CEC ELIMINATIONS TOTAL
ACCOUNT DESCRIPTION GAS COMPANY CORPORATION GROUP, INC. HOLDING DEBIT CREDIT CEC
CAPITALIZATION
COMMON STOCK $ 18,760,951 $ 1,000 $ 1,000 $ 8,898,663 $ 18,762,951 $ 8,898,663
CAPITAL STOCK EXPENSE (636,182) (3,286,766) (3,922,948)
CAPITAL IN EXCESS OF PAR VALUE 70,799,637 50,000 2,499,000 101,212,877 81,656,854 92,904,660
RETAINED EARNINGS 40,602,394 (12,795) 3,857 (7,869,299) $3,821,328 36,545,485
___________________________________________________________________________________________________________________________________
SUBTOTAL 129,526,800 38,205 2,503,857 98,955,475 100,419,805 3,821,328 134,425,860
LONG-TERM DEBT 119,322,000 119,322,000
___________________________________________________________________________________________________________________________________
TOTAL CAPITALIZATION 248,848,800 38,205 2,503,857 98,955,475 100,419,805 3,821,328 253,747,860
CURRENT LIABILITIES
SHORT-TERM BORROWINGS 34,900,000 34,900,000
CURRENT PORTION OF LONG-TERM DEBT 594,500 594,500
ACCOUNTS PAYABLE 16,206,150 16,206,150
REFUNDS DUE CUSTOMERS 632,898 632,898
FEDERAL CORPORATE TAXES 4,851,266 13,827 4,865,093
STATE CORPORATE TAXES 408,367 5,133 413,500
PROPERTY TAXES 3,993,125 3,993,125
OTHER ACCRUED TAXES 3,329,242 3,329,242
ACCOUNTS PAYABLE-INTERCOMPANY 0 13,279 85,188 53,294 151,761 0
INTEREST PAYABLE 2,251,647 2,251,647
OTHER ACCRUED LIABILITIES 3,007,047 3,007,047
CUSTOMERS' DEPOSITS 2,055,045 2,055,045
__________________________________________________________________________________________________________________________________
TOTAL CURRENT LIABILITIES 72,229,287 13,279 85,188 72,254 151,761 72,248,247
OTHER LIABILITIES
DEFERRED FEDERAL INCOME TAXES 57,971,417 57,971,417
DEFERRED INVESTMENT TAX CREDITS 3,487,964 3,487,964
OTHER 8,831,362 23,073 8,854,435
___________________________________________________________________________________________________________________________________
TOTAL OTHER LIABILITIES 70,290,743 23,073 70,313,816
TOTAL CAPITALIZATION & LIABILITIES $391,368,830 $51,484 $2,589,045 $99,027,729 $100,571,566 $3,844,401 $396,309,923
=========== ====== ========= ========== =========== ========= ===========
</TABLE>
<TABLE>
<CAPTION>
CONNECTICUT ENERGY CORPORATION
CONSOLIDATING STATEMENT OF CHANGES IN RETAINED EARNINGS
(UNAUDITED)
<S> <C> <C> <C> <C> <C> <C>
EXHIBIT A
THE CONNECTICUT TOTAL
SOUTHERN ENERGY ENERGY CONNECTICUT
CONNECTICUT DEVELOPMENT SERVICES ENERGY ADJUSTMENTS
GAS COMPANY CORPORATION GROUP, INC. CORPORATION ELIMINATIONS CONSOLIDATED
___________________________________________________________________________________________________________________________________
BALANCE - DECEMBER 31, 1994 $37,846,443 $(7,805,679) $3,821,328 $33,862,092
ADD: NET INCOME 14,068,812 $(12,795) $3,857 88,470 14,148,344
LESS: COMMON STOCK DIVIDENDS 11,312,861 152,090 11,464,951
___________________________________________________________________________________________________________________________________
BALANCE - DECEMBER 31, 1995 $40,602,394 $(12,795) $3,857 $(7,869,299) $3,821,328 $36,545,485
========== ======= ===== ========== ========= ==========
</TABLE>
<TABLE> <S> <C>
<ARTICLE> OPUR3
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> SEP-30-1995
<PERIOD-START> JAN-01-1995
<PERIOD-END> DEC-31-1995
<BOOK-VALUE> PER-BOOK
<TOTAL-ASSETS> 396,310
<TOTAL-OPERATING-REVENUES> 236,345
<NET-INCOME> 14,148
</TABLE>
