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 September 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: November 26, 1996
EUA ENERGY INVESTMENT CORPORATION
ENERGY AND ENERGY CONSERVATION RESEARCH
THIRD QUARTER 1996
(1) EUA Energy Investment Corporation Financial Statements for the third
quarter 1996.
EUA ENERGY INVESTMENT CORPORATION
CONDENSED BALANCE SHEET
September 30, 1996
(Unaudited)
(In Thousands of Dollars)
ASSETS
Property and other investments:
Investment - Subsidiaries ($1,406)
Other Assets 383
Total fixed Assets (1,023)
Current Assets:
Cash and temporary Cash Investments 6
Notes Receivable 14,482
Accounts Receivable 1,299
Prepayments and Other Assets 50
Total Current Assets 15,837
TOTAL ASSETS $14,814
LIABILITIES
Common Stock and Other Paid-In Capital $1
Retained (Loss) Earnings (11,786)
Total Common Equity (11,785)
Total Capitalization (11,785)
Current Liabilities:
Notes Payable to Parent 25,500
Accounts Payable 21
Accrued Taxes 0
Accrued Interest 2,534
Other Current Liabilities 0
Total Current Liabilities 28,055
Accumulated Deferred Taxes (1,456)
TOTAL LIABILITIES AND EQUITY $14,814
EUA ENERGY INVESTMENT CORPORATION
CONDENSED INCOME STATEMENT
For the Quarter Ended and YTD September 30, 1996
(Unaudited)
(In Thousands of Dollars)
QUARTER ENDED YTD
Operating Income $0 $0
Operating Expenses:
Operation 266 527
Depreciation & Amortization 5 7
Taxes - Other 2 13
Income and Deferred Taxes (Credit) (163) (325)
Total Operating Expenses 110 222
Operating Income (Loss) (110) (222)
Other Income and Deductions 537 (1,651)
Income Before Interest Charges 427 (1,873)
Interest Charges:
Interest Expense - Ass. Cos. 344 856
Other Interest Expense 1 5
Total Interest Charges 345 861
Net Income (Loss) $82 ($2,734)
EUA ENERGY INVESTMENT CORPORATION
STATEMENT OF CASH FLOWS
For the Nine Months Ended September 30, 1996
(Unaudited)
(In Thousands of Dollars)
Operating Activities:
Pre-tax Net Income (Loss) ($2,734)
Depreciation & Amortization 0
Change in Assets and Liabilities:
Accounts & Notes Receivable (5,429)
Accounts & Notes Payable 9,326
Accrued Expenses 856
Deferred Income Taxes 88
Other (Net) (331)
Net Operating Activities 1,776
Financing Activities:
Equity Contributions 0
Long Term Debt 0
Other (Net) 0
Net Financing Activities 0
Investing Activities:
Investments in Subsidiaries (1,776)
Capital Expenditures 0
Net Investing Activities (1,776)
Cash Provided (Used) ($0)
EUA ENERGY INVESTMENT CORPORATION
ENERGY AND ENERGY CONSERVATION RESEARCH
THIRD QUARTER 1996
(2) EUA Energy has not invested in or become obligated to invest in any
cogeneration or small power production projects.
(3) EUA Energy utilized $38,827 of its authorized $5 million in R&D funding
in the third quarter of 1996. On a cummulative basis EUA Energy has
utilized $2,846,178 of funding through September 30, 1996. The third
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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