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 December 31, 1996.
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: March 25, 1997
EUA ENERGY INVESTMENT CORPORATION
ENERGY AND ENERGY CONSERVATION RESEARCH
FOURTH QUARTER 1996
(1) EUA Energy Investment Corporation Financial Statements for the fourth
quarter 1996.
EUA ENERGY INVESTMENT CORPORATION
CONDENSED BALANCE SHEET
December 31, 1996
(Unaudited)
(In Thousands of Dollars)
ASSETS
Property and other investments:
Investment - Subsidiaries ($2,557)
Other Assets 466
Total fixed Assets (2,091)
Current Assets:
Cash and temporary Cash Investments 15
Notes Receivable 16,766
Accounts Receivable (114)
Prepayments and Other Assets 40
Total Current Assets 16,707
TOTAL ASSETS $14,616
LIABILITIES
Common Stock and Other Paid-In Capital $1
Retained (Loss) Earnings (13,040)
Total Common Equity (13,039)
Total Capitalization (13,039)
Current Liabilities:
Notes Payable to Parent 28,421
Accounts Payable 30
Accrued Taxes 0
Accrued Interest 441
Other Current Liabilities 0
Total Current Liabilities 28,892
Accumulated Deferred Taxes (1,237)
TOTAL LIABILITIES AND EQUITY $14,616
EUA ENERGY INVESTMENT CORPORATION
CONDENSED INCOME STATEMENT
For the Quarter Ended and 12 Months ended December 31, 1996
(Unaudited)
(In Thousands of Dollars)
QUARTER ENDED YTD
Operating Income $0 $0
Operating Expenses:
Operation 344 869
Depreciation & Amortization 5 12
Taxes - Other 2 16
Income and Deferred Taxes (Credit) (176) (499)
Total Operating Expenses 176 398
Operating Income (Loss) (176) (398)
Other Income and Deductions (695) (2,346)
Income Before Interest Charges (871) (2,744)
Interest Charges:
Interest Expense - Ass. Cos. 383 1,239
Other Interest Expense 1 6
Total Interest Charges 384 1,245
Net Income (Loss) ($1,255) ($3,989)
EUA ENERGY INVESTMENT CORPORATION
STATEMENT OF CASH FLOWS
For the Twelve Months Ended December 31, 1996
(Unaudited)
(In Thousands of Dollars)
Operating Activities:
Pre-tax Net Income (Loss) ($3,989)
Depreciation & Amortization 0
Change in Assets and Liabilities:
Accounts & Notes Receivable (6,299)
Accounts & Notes Payable 12,258
Accrued Expenses (1,237)
Deferred Income Taxes 307
Other (Net) (406)
Net Operating Activities 634
Financing Activities:
Equity Contributions 0
Long Term Debt 0
Other (Net) 0
Net Financing Activities 0
Investing Activities:
Investments in Subsidiaries (625)
Capital Expenditures 0
Net Investing Activities (625)
Cash Provided (Used) ($9)
EUA ENERGY INVESTMENT CORPORATION
ENERGY AND ENERGY CONSERVATION RESEARCH
FOURTH QUARTER 1996
(2) EUA Energy has not invested in nor become obligated to invest in any
cogeneration or small power production projects.
(3) EUA Energy utilized $9,508 of its authorized $5 million in R&D funding in
the fourth quarter of 1996. On a cummulative basis EUA Energy has
utilized $2,855,686 of funding through December 31, 1996. The fourth
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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