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 June 30, 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: August 30, 1995
EUA ENERGY INVESTMENT CORPORATION
ENERGY AND ENERGY CONSERVATION RESEARCH
SECOND QUARTER 1995
(1) EUA Energy Investment Corporation Financial Statements for the
second quarter 1995.
EUA ENERGY INVESTMENT CORPORATION
CONDENSED BALANCE SHEET
June 30, 1995
(Unaudited)
(In Thousands of Dollars)
ASSETS
Property and Other Investments:
Investment - Subsidiaries ($1,640)
Other Assets 1,155
Total Fixed Assets (485)
Current Assets:
Cash and Temporary Cash Investments 8
Notes Receivable 5,145
Accounts Receivable 1,515
Prepayments and Other Assets 9
Total Current Assets 6,677
TOTAL ASSETS $6,192
LIABILITIES
Common Stock and Other Paid-In Capital $1
Retained (Loss) Earnings (7,637)
Total Common Equity (7,636)
Total Capitalization (7,636)
Current Liabilities:
Notes Payable to Parent 13,171
Accounts Payable 103
Accrued Taxes 0
Accrued Interest 1,216
Other Current Liabilities 0
Total Current Liabilities 14,490
Accumulated Deferred Taxes (662)
TOTAL LIABILITIES AND EQUITY $6,192
EUA ENERGY INVESTMENT CORPORATION
CONDENSED INCOME STATEMENT
For the Quarter Ended and YTD June 30, 1995
(Unaudited)
(In Thousands of Dollars)
QUARTER ENDED YTD
Operating Income $0 $0
Operating Expenses:
Operation 501 1,606
Depreciation & Amortization 1 2
Taxes - Other 4 9
Income and Deferred Taxes (1) (2)
Total Operating Expenses 505 1,615
Operating Income (505) (1,615)
Other Income and Deductions (213) (303)
Income Before Interest Charges (718) (1,918)
Interest Charges:
Interest Expense - Associated Companies 184 335
Other Interest Expense 2 4
Total Interest Charges 186 339
Net Income ($904) ($2,257)
EUA ENERGY INVESTMENT CORPORATION
STATEMENT OF CASH FLOWS
YTD for the Month Ended June 30, 1995
(Unaudited)
(In Thousands of Dollars)
Operating Activities:
Pre-tax Net Income ($2,257)
Depreciation & Amortization 0
Change in Assets and Liabilities:
Accounts & Notes Receivable (2,460)
Accounts & Notes Payable 4,454
Accrued Expenses 335
Other (Net) (1,161)
Net Operating Activities (1,089)
Financing Activities:
Equity Contributions (375)
Long-term Debt 0
Other (Net) 0
Net Financing Activities (375)
Investing Activities:
Investments in Subsidiaries 0
Capital Expenditures 1,458
Other 0
Net Investing Activities 1,458
Cash Provided (Used) ($6)
EUA ENERGY INVESTMENT CORPORATION
ENERGY AND ENERGY CONSERVATION RESEARCH
SECOND 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 $ 601,000 of its authorized $5 million in R&D
funding in the second quarter of 1995. On a cumulative basis EUA
Energy has utilized $2,743,000 of funding through June 30, 1995.
Of this amount $300,000 for the quarter and $2.1 million in total
was part of a $2.1 million commitment to Home & Family LP to fund
an environmental services pilot program. The pilot program was
completed in July 1995. After a review of the test results, EUA
Energy declined to pursue the business opportunity.
EUA Energy has also provided $301,000 for the quarter and $643,000
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. EUA Energy received SEC approval to invest in BIOTEN on
June 21, 1995.
(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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