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 June 30, 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: September 22, 1997
EUA ENERGY INVESTMENT CORPORATION
ENERGY AND ENERGY CONSERVATION RESEARCH
SECOND QUARTER 1997
(1) EUA Energy Investment Corporation Financial Statements for
the second quarter 1997.
EUA ENERGY INVESTMENT CORPORATION
CONDENSED BALANCE SHEET
June 30, 1997
(Unaudited)
(In Thousands of Dollars)
ASSETS
Property and other investments:
Investment - Subsidiaries ($4,276)
Other Assets 583
Total fixed Assets (3,693)
Current Assets:
Notes Receivable 21,949
Accounts Receivable 137
Prepayments and Other Assets 449
Total Current Assets 22,535
TOTAL ASSETS $18,842
LIABILITIES
Common Stock and Other Paid-In Capital $1
Retained (Loss) Earnings (15,212)
Total Common Equity (15,211)
Total Capitalization (15,211)
Current Liabilities:
Notes Payable to Parent 33,891
Accounts Payable 76
Accrued Interest 1,324
Total Current Liabilities 35,291
Accumulated Deferred Taxes (1,238)
TOTAL LIABILITIES AND EQUITY $18,842
EUA ENERGY INVESTMENT CORPORATION
CONDENSED INCOME STATEMENT
For the Quarter Ended and YTD June 30, 1997
(Unaudited)
(In Thousands of Dollars)
QUARTER ENDED YTD
Operating Income $0 $0
Operating Expenses:
Operation 174 277
Depreciation & Amortization 5 10
Taxes - Other 3 7
Income and Deferred Taxes (162) (290)
Total Operating Expenses 20 4
Operating Income (20) (4)
Other Income and Deductions (404) (1,284)
Loss Before Interest Charges (424) (1,288)
Interest Charges:
Interest Expense - Associated Companies 476 882
Other Interest Expense 1 2
Total Interest Charges 477 884
Net Income (Loss) ($901) ($2,172)
EUA ENERGY INVESTMENT CORPORATION
STATEMENT OF CASH FLOWS
For the Six Months Ended June 30, 1997
(Unaudited)
(In Thousands of Dollars)
Operating Activities:
Pre-tax Net Income ($2,172)
Change in Assets and Liabilities:
Accounts & Notes Receivable (5,434)
Accounts & Notes Payable 5,516
Accrued Expenses 883
Other (Net) (526)
Net Cash (Used In) Operating Activities (1,733)
Investing Activities:
Investments in Subsidiaries 1,719
Net Cash Provided From Investing Activities 1,719
Cash Provided (Used) ($14)
EUA ENERGY INVESTMENT CORPORATION
ENERGY AND ENERGY CONSERVATION RESEARCH
SECOND 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 $24,986 of its authorized $5 million in R&D funding
in the second quarter of 1997. On a cumulative basis EUA Energy has
utilized $2,941,902 of funding through June 30, 1997. The second quarter
R&D expenditures were used in the development of applicat ions for
electric compression of gas pipelines in North America.
(4) Services were provided by EUA Service Corporation staff personnel in the
following areas:
a. Financial & Accounting
b. Information Services
c. Treasury Services
d. Personnel & Employee Benefits
e. Corporate Communications
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