SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
In the matter of )
)
EASTERN UTILITIES ASSOCIATES )
Boston, Massachusetts )
)
EUA ENERGY INVESTMENT CORPORATION ) Certificate of
Lowell, Massachusetts ) Notification
) Pursuant to
) Rule 24
(70-8283) )
)
(Public Utility Holding Company Act of 1935) )
Enclosed herewith for filing by Eastern Utilities Associates and
its wholly-owned subsidiary, EUA Energy Investment Corporation, in
accordance with the Order of the Securities and Exchange Commission
entered in the above matter on January 24, 1994 (Release No. 35-25976)
and pursuant to Rule 24, are the balance sheet, the income statement,
and statement of cash flows for the period ended September 30, 1996 of
TransCapacity Limited Partnership, reflecting the investments to-date
therein by EUA Energy Investment Corporation and by its wholly-owned
subsidiary EUA TransCapacity Inc.
EASTERN UTILITIES ASSOCIATES
By: /s/ Clifford J. Hebert, Jr.
Clifford J. Hebert, Jr.
Treasurer
Dated: November 26, 1996
EUA ENERGY INVESTMENT CORPORATION
INVESTMENT IN TRANSCAPACITY L.P.
THIRD QUARTER 1996
(1) In the third quarter of 1996 TransCapacity L.P. was operational and was
actively marketing their Capacity Scout System.
(2) EUA Energy advanced $815,000 in loans to TransCapacity in the third
quarter of 1996. On a cumulative basis EUA has invested $10,005,000 in
TransCapacity.
(3) Services were provided by three (3) EUA Service Corporation staff
personnel in the following areas: Marketing, Management and Taxation.
(4) TransCapacity L.P. Financial Statements for the third quarter 1996.
TRANSCAPACITY LIMITED PARTNERSHIP
CONDENSED BALANCE SHEET
September 30, 1996
(Unaudited)
(In Thousands of Dollars)
ASSETS
Fixed Assets:
Property and equipment, net $368
Organization Costs, net 11
Other Assets 482
Total fixed Assets 861
Current Assets:
Cash and temporary Cash Investments 109
Accounts Receivable 4
Notes Receivable 0
Prepayments and Other Assets 41
Total Current Assets 154
TOTAL ASSETS $1,015
LIABILITIES
Partnership Equity:
Partnership Equity - EUA TransCapacity ($6,432)
Partnership Equity - NCRSCo (367)
Partnership Equity - TransCapacity SC (539)
Total Common Equity (7,338)
Long Term Liabilities:
Long term portion of capital lease liability 3
Notes Payable to EUA Energy 7,155
Total Long Term Liabilities 7,158
Total Capitalization (180)
Current Liabilities:
Accounts Payable 18
Current portion of capital lease liability 4
Notes Payable 55
Accrued Expenses 1,118
Total Current Liabilities 1,195
TOTAL LIABILITIES AND EQUITY $1,015
TRANSCAPACITY LIMITED PARTNERSHIP
CONDENSED INCOME STATEMENT
For the Quarter and YTD September 30, 1996
(Unaudited)
(In Thousands of Dollars)
QUARTER ENDED YTD
Operating Income $7 $30
Operating Expenses:
Data Acquisition/Comm Expenses 105 262
Research and Development Expenses 106 315
General and Administrative Expenses 549 1,618
Depreciation & Amortization 104 310
Total Operating Expenses 864 2,505
Operating Income (857) (2,475)
Other Income and Deductions (14) (50)
Income Before Interest Charges (871) (2,525)
Interest Charges 188 541
Income After Interest Charges (1,059) (3,066)
Pre-tax Net Income ($1,059) ($3,066)
TRANSCAPACITY LIMITED PARTNERSHIP
STATEMENT OF CASH FLOWS
For the Nine Months Ended September 30, 1996
(Unaudited)
(In Thousands of Dollars)
Operating Activities:
Pre-tax Net Income ($3,066)
Depreciation & Amortization 310
Change in Assets and Liabilities:
Accounts & Notes Receivable 1
Accounts & Notes Payable (65)
Accrued Expenses 525
Other (Net) 41
Net Operating Activities (2,254)
Financing Activities:
Equity Contributions 0
Long Term Debt 2,480
Other (Net) (5)
Net Financing Activities 2,475
Investing Activities:
Payments for Affiliate Expenses (53)
Capital Expenditures (189)
Net Investing Activities (242)
Cash Provided (Used) ($21)
EUA ENERGY INVESTMENT CORPORATION
INVESTMENT IN TRANSCAPACITY L.P.
THIRD QUARTER 1996
(5) Number of transactions processed by TransCapacity L.P. during the third
quarter of 1996. Answer - NONE
Number of transactions processed by TransCapacity L.P. during the third
quarter of 1996 for customers located in New England. Answer - NONE
(6) Number of TransCapacity L.P. customers as of the end of the third
quarter of 1996. Answer - TEN
Number of TransCapacity L.P. customers as of the end of the third
quarter of 1996 located in New England. Answer - ONE
<TABLE> <S> <C>
<ARTICLE> OPUR1
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 9-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-END> SEP-30-1996
<BOOK-VALUE> PER-BOOK
<TOTAL-NET-UTILITY-PLANT> 368
<OTHER-PROPERTY-AND-INVEST> 493
<TOTAL-CURRENT-ASSETS> 154
<TOTAL-DEFERRED-CHARGES> 0
<OTHER-ASSETS> 0
<TOTAL-ASSETS> 1015
<COMMON> 0
<CAPITAL-SURPLUS-PAID-IN> (7338)
<RETAINED-EARNINGS> 0
<TOTAL-COMMON-STOCKHOLDERS-EQ> (7338)
0
0
<LONG-TERM-DEBT-NET> 0
<SHORT-TERM-NOTES> 0
<LONG-TERM-NOTES-PAYABLE> 7155
<COMMERCIAL-PAPER-OBLIGATIONS> 0
<LONG-TERM-DEBT-CURRENT-PORT> 0
0
<CAPITAL-LEASE-OBLIGATIONS> 3
<LEASES-CURRENT> 4
<OTHER-ITEMS-CAPITAL-AND-LIAB> 1191
<TOT-CAPITALIZATION-AND-LIAB> 1015
<GROSS-OPERATING-REVENUE> 30
<INCOME-TAX-EXPENSE> 0
<OTHER-OPERATING-EXPENSES> 2505
<TOTAL-OPERATING-EXPENSES> 2505
<OPERATING-INCOME-LOSS> (2475)
<OTHER-INCOME-NET> (50)
<INCOME-BEFORE-INTEREST-EXPEN> (2525)
<TOTAL-INTEREST-EXPENSE> 541
<NET-INCOME> (3066)
0
<EARNINGS-AVAILABLE-FOR-COMM> (3066)
<COMMON-STOCK-DIVIDENDS> 0
<TOTAL-INTEREST-ON-BONDS> 0
<CASH-FLOW-OPERATIONS> (2254)
<EPS-PRIMARY> 0
<EPS-DILUTED> 0
</TABLE>
