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 December 31, 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: February 28, 1997
EUA ENERGY INVESTMENT CORPORATION
INVESTMENT IN TRANSCAPACITY L.P.
FOURTH QUARTER 1996
(1) In the fourth quarter of 1996 TransCapacity L.P. was operational and was
actively marketing their Capacity Scout System.
(2) EUA Energy advanced $905,000 in loans to TransCapacity in the
fourth quarter of 1996. On a cumulative basis EUA has invested
$10,910,000 in TransCapacity.
(3) Services were provided by five (3) EUA Service Corporation staff
personnel in the following areas: Marketing, Management, and Taxation.
(4) TransCapacity L.P. Financial Statements for the fourth quarter 1996.
TRANSCAPACITY LIMITED PARTNERSHIP
CONDENSED BALANCE SHEET
December 31, 1996
(Unaudited)
(In Thousands of Dollars)
ASSETS
Fixed Assets:
Property and equipment, net $429
Organization Costs, net 9
Other Assets 483
Total fixed Assets 921
Current Assets:
Cash and temporary Cash Investments 104
Accounts Receivable 8
Notes Receivable 0
Prepayments and Other Assets 46
Total Current Assets 158
TOTAL ASSETS $1,079
LIABILITIES
Partnership Equity:
Partnership Equity - EUA TransCapacity ($7,537)
Partnership Equity - NCRSCo (367)
Partnership Equity - TransCapacity SC (539)
Total Common Equity (8,443)
Long Term Liabilities:
Long term portion of capital lease liability 2
Notes Payable to EUA Energy 8,060
Total Long Term Liabilities 8,062
Total Capitalization (381)
Current Liabilities:
Accounts Payable 14
Current portion of capital lease liability 4
Notes Payable 55
Accrued Expenses 1,387
Total Current Liabilities 1,460
TOTAL LIABILITIES AND EQUITY $1,079
TRANSCAPACITY LIMITED PARTNERSHIP
CONDENSED INCOME STATEMENT
For the quarter and twelve months ended December 31, 1996
(Unaudited)
(In Thousands of Dollars)
QUARTER YTD
Operating Revenues $10 $40
Operating Expenses:
Data Acquisition/Comm Expenses 40 302
Research and Development Expenses 115 430
General and Administrative Expenses 633 2,251
Depreciation & Amortization 107 417
Total Operating Expenses 895 3,400
Operating Income (885) (3,360)
Other Income and Deductions (8) (57)
Income Before Interest Charges (893) (3,417)
Interest Charges 213 754
Income After Interest Charges (1,106) (4,171)
Pre-tax Net Income ($1,106) ($4,171)
TRANSCAPACITY LIMITED PARTNERSHIP
STATEMENT OF CASH FLOWS
For the Year to date period ended December 31, 1996
(Unaudited)
(In Thousands of Dollars)
Operating Activities:
Pre-tax Net Income ($4,171)
Depreciation & Amortization 417
Change in Assets and Liabilities:
Accounts & Notes Receivable (3)
Accounts & Notes Payable (68)
Accrued Expenses 789
Other (Net) 47
Net Operating Activities (2,989)
Financing Activities:
Equity Contributions 0
Long Term Debt 3,385
Other (Net) (6)
Net Financing Activities 3,379
Investing Activities:
Payments for Affiliate Expenses (64)
Capital Expenditures (352)
Net Investing Activities (416)
Cash Provided (Used) ($26)
EUA ENERGY INVESTMENT CORPORATION
INVESTMENT IN TRANSCAPACITY L.P.
FOURTH QUARTER 1996
(5) Number of transactions processed by TransCapacity L.P. during the fourth
quarter of 1996. Answer - 294
Number of transactions processed by TransCapacity L.P. during the fourth
quarter of 1996 for customers located in New England. Answer - NONE
(6) Number of TransCapacity L.P. customers as of the end of the fourth
quarter of 1996. Answer - TEN
Number of TransCapacity L.P. customers as of the end of the fourth
quarter of 1996 located in New England. Answer - ONE
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