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 March 31, 1997.
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: June 12, 1997
EUA ENERGY INVESTMENT CORPORATION
ENERGY AND ENERGY CONSERVATION RESEARCH
FIRST QUARTER 1997
(1) EUA Energy Investment Corporation Financial Statements for
the first quarter 1997.
EUA ENERGY INVESTMENT CORPORATION
CONDENSED BALANCE SHEET
March 31, 1997
(Unaudited)
(In Thousands of Dollars)
ASSETS
Property and other investments:
Investment - Subsidiaries ($3,649)
Other Assets 505
Total fixed Assets (3,144)
Current Assets:
Cash and temporary Cash Investments 14
Notes Receivable 18,776
Accounts Receivable 156
Prepayments and Other Assets 35
Total Current Assets 18,981
TOTAL ASSETS $15,837
LIABILITIES
Common Stock and Other Paid-In Capital $1
Retained (Loss) Earnings (14,311)
Total Common Equity (14,310)
Total Capitalization (14,310)
Current Liabilities:
Notes Payable to Parent 30,486
Accounts Payable 50
Accrued Interest 848
Total Current Liabilities 31,384
Accumulated Deferred Taxes (1,237)
TOTAL LIABILITIES AND EQUITY $15,837
EUA ENERGY INVESTMENT CORPORATION
CONDENSED INCOME STATEMENT
For the Quarter Ended and YTD March 31, 1997
(Unaudited)
(In Thousands of Dollars)
QUARTER ENDED YTD
Operating Income $0 $0
Operating Expenses:
Operation 103 103
Depreciation & Amortization 5 5
Taxes - Other 4 4
Income and Deferred Taxes (128) (128)
Total Operating Expenses (16) (16)
Operating Income 16 16
Other Income and Deductions (880) (880)
Loss Before Interest Charges (864) (864)
Interest Charges:
Interest Expense - Associated Companies 406 406
Other Interest Expense 1 1
Total Interest Charges 407 407
Net Income (Loss) ($1,271) ($1,271)
EUA ENERGY INVESTMENT CORPORATION
STATEMENT OF CASH FLOWS
For the Three Months Ended March 31, 1997
(Unaudited)
(In Thousands of Dollars)
Operating Activities:
Pre-tax Net Income ($1,271)
Change in Assets and Liabilities:
Accounts & Notes Receivable (2,282)
Accounts & Notes Payable 2,086
Accrued Expenses 406
Other (Net) (32)
Net Cash (Used In) Operating Activities (1,093)
Investing Activities:
Investments in Subsidiaries 1,092
Net Cash Provided From Investing Activities 1,092
Cash Provided (Used) ($1)
EUA ENERGY INVESTMENT CORPORATION
ENERGY AND ENERGY CONSERVATION RESEARCH
FIRST QUARTER 1997
(2) EUA Energy has not invested in or become obligated to invest in any
cogeneration or small power production projects.
(3) EUA Energy utilized $61,230 of its authorized $5 million in R&D funding
in the first quarter of 1997. On a cumulative basis EUA Energy has
utilized $2,916,916 of funding through March 31, 1997. The first 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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