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, 1998.
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 30, 1998
EUA ENERGY INVESTMENT CORPORATION
ENERGY AND ENERGY CONSERVATION RESEARCH
FIRST QUARTER 1998
(1) EUA Energy Investment Corporation Financial Statements for
the first quarter 1998.
EUA ENERGY INVESTMENT CORPORATION
CONDENSED BALANCE SHEET
March 31, 1998
(Unaudited)
(In Thousands of Dollars)
ASSETS
Property and other investments:
Investment - Subsidiaries ($6,374)
Other Assets 821
Total fixed Assets (5,553)
Current Assets:
Cash and Temporary Cash Investments 13
Notes Receivable 26,084
Accounts Receivable 57
Prepayments and Other Assets 1,278
Total Current Assets 27,432
TOTAL ASSETS $21,879
LIABILITIES
Common Stock and Other Paid-In Capital $1
Retained (Loss) Earnings (17,938)
Total Common Equity (17,937)
Total Capitalization (17,937)
Current Liabilities:
Notes Payable to Parent 39,958
Accounts Payable 44
Accrued Interest 1,069
Total Current Liabilities 41,071
Accumulated Deferred Taxes (1,255)
TOTAL LIABILITIES AND EQUITY $21,879
EUA ENERGY INVESTMENT CORPORATION
CONDENSED INCOME STATEMENT
For the Quarter and Year to Date Periods Ended March 31, 1998
(Unaudited)
(In Thousands of Dollars)
QUARTER ENDED YTD
Operating Income $0 $0
Operating Expenses:
Operation 101 101
Depreciation & Amortization 5 5
Taxes - Other 5 5
Income and Deferred Taxes (105) (105)
Total Operating Expenses 6 6
Operating Income (6) (6)
Other Income and Deductions (577) (577)
Loss Before Interest Charges (583) (583)
Interest Charges:
Interest Expense - Associated Companies 572 572
Other Interest Expense 1 1
Total Interest Charges 573 573
Net Income (Loss) ($1,156) ($1,156)
EUA ENERGY INVESTMENT CORPORATION
STATEMENT OF CASH FLOWS
For the Three Months Ended March 31, 1998
(Unaudited)
(In Thousands of Dollars)
Operating Activities:
Pre-tax Net Income ($1,156)
Change in Assets and Liabilities:
Accounts & Notes Receivable (2,270)
Accounts & Notes Payable 2,184
Accrued Expenses 571
Deferred Income Taxes 7
Other (Net) (312)
Net Cash (Used In) Operating Activities (976)
Investing Activities:
Investments in Subsidiaries 987
Net Cash Provided From Investing Activities 987
Cash Provided (Used) ($11)
EUA ENERGY INVESTMENT CORPORATION
ENERGY AND ENERGY CONSERVATION RESEARCH
FIRST QUARTER 1998
(2) EUA Energy has not invested in or become obligated to invest in any
cogeneration or small power production projects.
(3) EUA Energy did not invest in R&D funding in the first quarter of 1998.
(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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