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 December 31, 1994.
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: February 28, 1995
EUA ENERGY INVESTMENT CORPORATION
ENERGY AND ENERGY CONSERVATION RESEARCH
FOURTH QUARTER 1994
(1) EUA Energy Investment Corporation Financial Statements for the
fourth quarter 1994.
EUA ENERGY INVESTMENT CORPORATION
CONDENSED BALANCE SHEET
December 31, 1994
(Unaudited)
(In Thousands of Dollars)
ASSETS
Property and Other Investments:
Investment - Subsidiaries ($182)
Other Assets 0
Total Fixed Assets (182)
Current Assets:
Cash and Temporary Cash Investments 14
Notes Receivable 3,495
Accounts Receivable 705
Prepayments and Other Assets 5
Total Current Assets 4,219
TOTAL ASSETS $4,037
LIABILITIES
Common Stock and Other Paid-In Capital $376
Retained (Loss) Earnings (5,380)
Total Common Equity (5,004)
Total Capitalization (5,004)
Current Liabilities:
Notes Payable to Parent 8,693
Accounts Payable 126
Accrued Taxes 0
Accrued Interest 881
Other Current Liabilities 0
Total Current Liabilities 9,700
Accumulated Deferred Taxes (659)
TOTAL LIABILITIES AND EQUITY $4,037
EUA ENERGY INVESTMENT CORPORATION
CONDENSED INCOME STATEMENT
For the Quarter Ended and YTD December 31, 1994
(Unaudited)
(In Thousands of Dollars)
QUARTER ENDED YTD
Operating Income $0 $0
Operating Expenses:
Operation 759 1,553
Depreciation & Amortization 0 2
Taxes - Other 3 11
Income and Deferred Taxes 0 0
Total Operating Expenses 763 1,566
Operating Income (763) (1,566)
Other Income and Deductions 312 618
Income Before Interest Charges (450) (948)
Interest Charges:
Interest Expense - Associated Companies 114 286
Other Interest Expense 1 4
Total Interest Charges 115 289
Net Income ($565) ($1,237)
EUA ENERGY INVESTMENT CORPORATION
STATEMENT OF CASH FLOWS
YTD for the Month Ended December 31, 1994
(Unaudited)
(In Thousands of Dollars)
Operating Activities:
Pre-tax Net Income ($1,237)
Depreciation & Amortization 0
Change in Assets and Liabilities:
Accounts & Notes Receivable (1,801)
Accounts & Notes Payable 4,033
Accrued Expenses 286
Other (Net) 15
Net Operating Activities 1,296
Financing Activities:
Equity Contributions 375
Long-term Debt 0
Other (Net) 0
Net Financing Activities 375
Investing Activities:
Investments in Subsidiaries 0
Capital Expenditures (1,658)
Other 0
Net Investing Activities (1,658)
Cash Provided (Used) $12
EUA ENERGY INVESTMENT CORPORATION
ENERGY AND ENERGY CONSERVATION RESEARCH
FOURTH QUARTER 1994
(2) EUA Energy has not invested in nor become obligated to invest in
any cogeneration or small power production projects.
(3) EUA Energy utilized $510,000 of its authorized $5 million in R&D
funding in the fourth quarter of 1994. Of this amount, $335,000
is part of a $1.8 million committment to fund an environmental
services pilot program. The program will evaluate the benefit of
providing environmental audits to residential customers in
conjunction with energy audits. The pilot program will be completed
in June 1995.
EUA Energy also provided $175,000 to the RBS Group of Tennessee.
This is part of a $2 million R&D fund which will allow RBS to
construct a commercially-sized demonstration plant of its biomass
fired combustion turbine power technology. The R&D funding will
entitle EUA Energy to a 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
<TABLE> <S> <C>
<ARTICLE> OPUR1
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1994
<PERIOD-END> DEC-31-1994
<BOOK-VALUE> PER-BOOK
<TOTAL-NET-UTILITY-PLANT> 0
<OTHER-PROPERTY-AND-INVEST> (182)
<TOTAL-CURRENT-ASSETS> 4219
<TOTAL-DEFERRED-CHARGES> 0
<OTHER-ASSETS> 0
<TOTAL-ASSETS> 4037
<COMMON> 0
<CAPITAL-SURPLUS-PAID-IN> 376
<RETAINED-EARNINGS> (5380)
<TOTAL-COMMON-STOCKHOLDERS-EQ> (5004)
0
0
<LONG-TERM-DEBT-NET> 0
<SHORT-TERM-NOTES> 8693
<LONG-TERM-NOTES-PAYABLE> 0
<COMMERCIAL-PAPER-OBLIGATIONS> 0
<LONG-TERM-DEBT-CURRENT-PORT> 0
0
<CAPITAL-LEASE-OBLIGATIONS> 0
<LEASES-CURRENT> 0
<OTHER-ITEMS-CAPITAL-AND-LIAB> 348
<TOT-CAPITALIZATION-AND-LIAB> 4037
<GROSS-OPERATING-REVENUE> 0
<INCOME-TAX-EXPENSE> 0
<OTHER-OPERATING-EXPENSES> 1566
<TOTAL-OPERATING-EXPENSES> 1566
<OPERATING-INCOME-LOSS> (1566)
<OTHER-INCOME-NET> 618
<INCOME-BEFORE-INTEREST-EXPEN> (948)
<TOTAL-INTEREST-EXPENSE> 289
<NET-INCOME> (1237)
0
<EARNINGS-AVAILABLE-FOR-COMM> (1237)
<COMMON-STOCK-DIVIDENDS> 0
<TOTAL-INTEREST-ON-BONDS> 0
<CASH-FLOW-OPERATIONS> 1296
<EPS-PRIMARY> 0
<EPS-DILUTED> 0
</TABLE>
