SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
In the matter of )
) Certificate of
EASTERN UTILITIES ASSOCIATES ) Notification
Boston, Massachusetts ) Pursuant to
) Rule 24
(70-8769) )
)
Public Utility Holding Company )
Act of 1935 (the Act) )
Enclosed herewith for filing by Eastern Utilities Associates on behalf of
its wholly-owned subsidiary, EUA Energy Services, Inc., in accordance with
the Orders of the Securities and Exchange Commission entered in the above
matter on October 2, 1996 (Release No. 35-26586), March 14, 1996 (Release No.
35-26493), and May 23, 1996 (Release No. 35-26519). Pursuant to Rule 24, are
the balance sheet, the income statement, and statement of cash flows for the
period ended September 30, 1997 of Duke/Louis Dreyfus Energy Services (New
England) LLC and such other information required to be filed by said orders.
The joint venture between Eastern Utilities Associates and an affiliate
of Duke Energy Corp., was terminated in the third quarter of 1997 and
Duke/Louis Dreyfus Energy Services (New England) LLC has discontiued its
operations. Therefore, below is the final report for Duke/Louis Dreyfus
Energy Services (New England) LLC pursuant to Rule 24.
EASTERN UTILITIES ASSOCIATES
By: /s/ Clifford J. Hebert, Jr.
Clifford J. Hebert, Jr.
Treasurer
Dated: December 11, 1997
Duke/Louis Dreyfus Energy Services (New England) LLC
Financial Statements through September 30, 1997
Duke/Louis Dreyfus Energy Services (New England) LLC
Balance Sheet
September 30, 1997
(Unaudited)
ASSETS
Current Assets:
Cash $ 93
Trade Accounts Receivable 8,538
Total Current Assets 8,631
Fixed Assets:
Equipment (Net of Acc. Depreciation of $2,096) 31,046
TOTAL ASSETS $39,677
LIABILITIES
Liabilities and Members Equity:
Current Liabilities
Accounts Payable $3,533
Accrued Purchases 3,622
Total Current Liabilities 7,155
Other Liabilities:
Due to members 693,441
Total Other Liabilities 693,441
Members' Equity (deficit)
Duke/Louis Dreyfus LLC (462,643)
EUA Energy Services, Inc. (198,276)
Total Members' Equity (deficit) (660,919)
TOTAL LIABILITIES AND MEMBERS' EQUITY $39,677
Duke/Louis Dreyfus Energy Services (New England) LLC
CONDENSED INCOME STATEMENT
For the Quarter and Twelve Months Ended September 30, 1997
(Unaudited)
Twelve
Qtr. Ended Mos. ended
Sales $4,603 $22,091
Less: Cost of Sales 7,149 32,712
Gross Profit (loss) (2,546) (10,621)
Operating Expenses:
General and Administrative Expenses 44,622 493,407
Interest Expenses 3,216 7,355
Total Expenses (Net) 47,838 500,762
Net Income (Loss) ($50,384) ($511,383)
Duke/Louis Dreyfus Energy Services (New England) LLC
STATEMENT OF CASH FLOWS
For the Quarter and Twelve Months Ended September 30, 1997
(Unaudited)
12 Mos.
Qtr. Ended Ended
Operating Activities:
Net Loss ($50,384) ($511,383)
Depreciation 553 2,096
Change in Current Assets and Liabilities 1,170 (1,548)
Net cash (used in) operating activities (48,661) (510,835)
Investing Activities:
Purchase of Equipment - (33,142)
Financing Activities:
Advances from members 45,196 544,070
Net cash provided from
Financing Activities 45,196 544,070
Net (Decrease) Increase in cash (3,465) 93
Cash at Beginning of Period 3,558 0
Cash at September 30, 1997 93 93
Duke/Louis Dreyfus Energy Services (New England) LLC
THIRD QUARTER 1997
(ii) Statement of revenues.
All revenues are attributed to brokering electric power.
(iii) Derivative Transactions.
None.
(iv) Types of services provided by EUA Service Corporation (EUASC):
Marketing and administrative services were provided by approximately
(10) EUASC personnel.
Total EUASC charges for the quarter ended and year to date periods
ended September 30, 1997 were $38,178 and $251,753, respectively.
All EUASC charges are billed at cost in compliance with Rules 90 and 91
under the Act.
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