SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
- ---------------------------------------------
In the Matter of :
:
EASTERN UTILITIES ASSOCIATES (EUA) :
EUA ENERGY INVESTMENT CORPORATION :
(EUA ENERGY) :
BOSTON, MA : Certificate of
: Notification
: Pursuant to Rule 24,
: Interim Report
:
(70-7426) :
:
(Public Utility Holding Company Act of 1935):
- ---------------------------------------------
In accordance with the terms and conditions of Rule 24 under
the Public Utility Holding Company Act of 1935, and the Orders of
the Commission dated December 4, 1987, January 11, 1988, and April 15,
1994, (the "Orders") authorizing transactions as more fully described in
the Application-Declaration as amended (the "Application"), the
undersigned hereby enclose herewith for filing pursuant to the above-
referenced Order are the balance sheet, the income statement, and the
statement of cash flows of EUA Energy Investment Corporation for the
period ended March 31, 1995.
Very truly yours,
EASTERN UTILITIES ASSOCIATES
By: /s/ Clifford J. Hebert, Jr.
Clifford J. Hebert, Jr.
Treasurer
EUA ENERGY INVESTMENT CORPORATION
By: /s/ Clifford J. Hebert, Jr.
Clifford J. Hebert, Jr.
Treasurer
Dated: June 9, 1995
EUA ENERGY INVESTMENT CORPORATION
ENERGY AND ENERGY CONSERVATION RESEARCH
FIRST QUARTER 1995
(1) EUA Energy Investment Corporation Financial Statements for the
first quarter 1995.
EUA ENERGY INVESTMENT CORPORATION
CONDENSED BALANCE SHEET
March 31, 1995
(Unaudited)
(In Thousands of Dollars)
ASSETS
Property and Other Investments:
Investment - Subsidiaries ($1,128)
Other Assets 70
Total Fixed Assets (1,058)
Current Assets:
Cash and Temporary Cash Investments 2
Notes Receivable 4,270
Accounts Receivable 1,213
Prepayments and Other Assets 2
Total Current Assets 5,487
TOTAL ASSETS $4,429
LIABILITIES
Common Stock and Other Paid-In Capital $1
Retained (Loss) Earnings (6,733)
Total Common Equity (6,732)
Total Capitalization (6,732)
Current Liabilities:
Notes Payable to Parent 10,625
Accounts Payable 165
Accrued Taxes 0
Accrued Interest 1,031
Other Current Liabilities 0
Total Current Liabilities 11,821
Accumulated Deferred Taxes (660)
TOTAL LIABILITIES AND EQUITY $4,429
EUA ENERGY INVESTMENT CORPORATION
CONDENSED INCOME STATEMENT
For the Quarter Ended and YTD March 31, 1995
(Unaudited)
(In Thousands of Dollars)
QUARTER ENDED YTD
Operating Income $0 $0
Operating Expenses:
Operation 1,104 1,104
Depreciation & Amortization 1 1
Taxes - Other 6 6
Income and Deferred Taxes (1) (1)
Total Operating Expenses 1,110 1,110
Operating Income (1,110) (1,110)
Other Income and Deductions (90) (90)
Income Before Interest Charges (1,200) (1,200)
Interest Charges:
Interest Expense - Associated Companies 151 151
Other Interest Expense 2 2
Total Interest Charges 153 153
Net Income ($1,353) ($1,353)
EUA ENERGY INVESTMENT CORPORATION
STATEMENT OF CASH FLOWS
YTD for the Month Ended March 31, 1995
(Unaudited)
(In Thousands of Dollars)
Operating Activities:
Pre-tax Net Income ($1,353)
Depreciation & Amortization 0
Change in Assets and Liabilities:
Accounts & Notes Receivable (1,283)
Accounts & Notes Payable 1,970
Accrued Expenses 151
Other (Net) (67)
Net Operating Activities (582)
Financing Activities:
Equity Contributions (375)
Long-term Debt 0
Other (Net) 0
Net Financing Activities (375)
Investing Activities:
Investments in Subsidiaries 0
Capital Expenditures 946
Other 0
Net Investing Activities 946
Cash Provided (Used) ($11)
EUA ENERGY INVESTMENT CORPORATION
ENERGY AND ENERGY CONSERVATION RESEARCH
FIRST QUARTER 1995
(2) EUA Energy has not invested in nor become obligated to invest in
any cogeneration or small power production projects.
(3) EUA Energy utilized $1,007,000 of its authorized $5 million in R&D
funding in the first quarter of 1995. On a cummulative basis EUA
Energy has utilized $2,142,000 of funding through March 31, 1995.
Of this amount $840,000 for the quarter and $1.8 million in total
is part of a $2.1 million committment to Home & Family LP to fund
an environmental services pilot program. The program will evaluate
the benefit of providing home environmental audits to residential
customers in conjunction with energy audits. The pilot program
will be completed in July 1995.
EUA Energy has also provided $167,000 for the quarter and $342,000
in total to BIOTEN to construct a commercially-sized demonstration
plant of its biomass fired combustion turbine power technology.
EUA Energy will be entitled to an equity position in the final
commercial entity that will manufacture and deliver these generation
systems.
(4) Services were provided by EUA Service Corporation staff personnel
in the following areas:
o Financial & Accounting
o Information Services
o Treasury
o Personnel & Employee Benefits
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