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, 1996.
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 19, 1996
EUA ENERGY INVESTMENT CORPORATION
ENERGY AND ENERGY CONSERVATION RESEARCH
SECOND QUARTER 1996
(1) EUA Energy Investment Corporation Financial Statements for the second
quarter 1996.
EUA ENERGY INVESTMENT CORPORATION
CONDENSED BALANCE SHEET
June 30, 1996
(Unaudited)
(In Thousands of Dollars)
ASSETS
Property and other investments:
Investment - Subsidiaries ($623)
Other Assets 334
Total fixed Assets (289)
Current Assets:
Cash and temporary Cash Investments 5
Notes Receivable 12,914
Accounts Receivable 922
Prepayments and Other Assets 68
Total Current Assets 13,909
TOTAL ASSETS $13,620
LIABILITIES
Common Stock and Other Paid-In Capital $1
Retained (Loss) Earnings (10,795)
Total Common Equity (10,794)
Total Capitalization (10,794)
Current Liabilities:
Notes Payable to Parent 23,663
Accounts Payable 45
Accrued Taxes 0
Accrued Interest 2,191
Other Current Liabilities 0
Total Current Liabilities 25,899
Accumulated Deferred Taxes (1,485)
TOTAL LIABILITIES AND EQUITY $13,620
EUA ENERGY INVESTMENT CORPORATION
CONDENSED INCOME STATEMENT
For the Quarter Ended and YTD June 30, 1996
(Unaudited)
(In Thousands of Dollars)
QUARTER ENDED YTD
Revenues $0 $0
Operating Expenses:
Operation 118 261
Depreciation & Amortization 1 2
Taxes - Other 3 11
Income and Deferred Taxes (79) (162)
Total Operating Expenses 43 112
Operating Income (43) (112)
Other Income and Deductions (537) (1,115)
Income Before Interest Charges (580) (1,227)
Interest Charges:
Interest Expense-Associated Companies 272 513
Other Interest Expense 1 3
Total Interest Charges 273 516
Net Income ($853) ($1,743)
EUA ENERGY INVESTMENT CORPORATION
STATEMENT OF CASH FLOWS
For the six months ended June 30, 1996
(Unaudited)
(In Thousands of Dollars)
Operating Activities:
Pre-tax Net Income ($1,743)
Depreciation & Amortization 0
Change in Assets and Liabilities:
Accounts & Notes Receivable (3,483)
Accounts & Notes Payable 7,514
Accrued Expenses 513
Deferred Income Taxes 59
Other (Net) (302)
Net Operating Activities 2,558
Financing Activities:
Equity Contributions 0
Long Term Debt 0
Other (Net) 0
Net Financing Activities 0
Investing Activities:
Investments in Subsidiaries (2,559)
Capital Expenditures 0
Net Investing Activities (2,559)
Cash Provided (Used) ($1)
EUA ENERGY INVESTMENT CORPORATION
ENERGY AND ENERGY CONSERVATION RESEARCH
SECOND QUARTER 1996
(2) EUA Energy has not invested in nor become obligated to invest in any
cogeneration or small power production projects.
(3) EUA Energy utilized $64,351 of its authorized $5 million in R&D funding
in the second quarter of 1996. On a cumulative basis EUA Energy has
utilized $2,807,351 of funding through June 30, 1996. The second quarter
R&D expenditures were used in the development of applications for
electric compression of gas pipelines in North America. EUA Energy is
funding one-half of the $525,000 development budget for this project in
conjunction with AllQuest Pipeline Services.
(4) Services were provided by EUA Service Corporation staff personnel in the
following areas:
a. Financial & Accounting
b. Information Services
c. Treasury
d. Personnel & Employee Benefits
e. Corporate Communications
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