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 September 30, 1998 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: November 24, 1998
EUA ENERGY INVESTMENT CORPORATION
INVESTMENT IN TRANSCAPACITY L.P.
THIRD QUARTER 1998
(1) In the third quarter of 1998 TransCapacity L.P. was operational and
was actively marketing their Capacity Scout System.
(2) EUA Energy advanced $798,000 in loans to TransCapacity in the third
quarter of 1998. On a cumulative basis EUA has invested $16,448,000
in TransCapacity.
(3) Services were provided by three (3) EUA Service Corporation staff
personnel in the following areas: Management and Taxation.
(4) TransCapacity L.P. Financial Statements for the third quarter 1998.
TRANSCAPACITY LIMITED PARTNERSHIP
CONDENSED BALANCE SHEET
September 30, 1998
(Unaudited)
(In Thousands of Dollars)
ASSETS
Fixed Assets:
Property and equipment, net $277
Other Assets 295
Total fixed Assets 572
Current Assets:
Cash and temporary Cash Investments 114
Accounts Receivable 26
Prepayments and Other Assets 46
Total Current Assets 186
TOTAL ASSETS $758
LIABILITIES
Partnership Equity:
Partnership Equity - EUA TransCapacity ($15,309)
Partnership Equity - NCRSCo (367)
Partnership Equity - TransCapacity SC (539)
Total Common Equity (16,215)
Long Term Liabilities:
Notes Payable to EUA Energy 13,568
Total Long Term Liabilities 13,568
Total Capitalization (2,647)
Current Liabilities:
Accounts Payable 34
Notes Payable 55
Accrued Expenses 3,244
Deferred Revenue 72
Total Current Liabilities 3,405
TOTAL LIABILITIES AND EQUITY $758
TRANSCAPACITY LIMITED PARTNERSHIP
CONDENSED INCOME STATEMENT
For the Period Ended September 30, 1998
(Unaudited)
(In Thousands of Dollars)
QUARTER ENDED YTD
Operating Revenue $66 $221
Operating Expenses:
Data Acquisition/Comm Expenses 45 146
Research and Development Expenses 122 377
General and Administrative Expenses 688 1,977
Depreciation & Amortization 60 252
Total Operating Expenses 915 2,752
Operating Income (849) (2,531)
Other Income and Deductions (1) (22)
Income Before Interest Charges (850) (2,553)
Interest Charges 325 921
Income After Interest Charges (1,175) (3,474)
Pre-tax Net Income ($1,175) ($3,474)
TRANSCAPACITY LIMITED PARTNERSHIP
STATEMENT OF CASH FLOWS
For the Nine Months Ended September 30, 1998
(Unaudited)
(In Thousands of Dollars)
Operating Activities:
Pre-tax Net Income ($3,474)
Depreciation & Amortization 252
Change in Assets and Liabilities:
Accounts & Notes Receivable (44)
Accounts & Notes Payable 21
Accrued Expenses 908
Other (Net) 162
Net Operating Activities (2,175)
Financing Activities:
Long Term Debt 2,318
Other (Net) (2)
Net Financing Activities 2,316
Investing Activities:
Payments for Affiliate Expenses (27)
Capital Expenditures (109)
Net Investing Activities (136)
Cash Provided $5
EUA ENERGY INVESTMENT CORPORATION
INVESTMENT IN TRANSCAPACITY L.P.
THIRD QUARTER 1998
(5) Number of transactions processed by TransCapacity L.P. during the
third quarter of 1998.
Answer - 191
Number of transactions processed by TransCapacity L.P. during the
third quarter of 1998 for customers located in New England.
Answer - 10
(6) Number of TransCapacity L.P. customers as of the end of the third
quarter of 1998.
Answer - 13
Number of TransCapacity L.P. customers as of the end of the third
quarter of 1998 located in New England.
Answer - ONE
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