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 December 31, 1997 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: February 26, 1998
EUA ENERGY INVESTMENT CORPORATION
INVESTMENT IN TRANSCAPACITY L.P.
FOURTH QUARTER 1997
(1) In the fourth quarter of 1997 TransCapacity L.P. was operational and
was actively marketing their Capacity Scout System.
(2) EUA Energy advanced $820,000 in loans to TransCapacity in the fourth
quarter of 1997. On a cumulative basis EUA has invested $14,100,000
in TransCapacity.
(3) Services were provided by three (3) EUA Service Corporation staff
personnel in the following: Marketing, Management and Taxation.
(4) TransCapacity L.P. Financial Statements for the fourth quarter 1997.
TRANSCAPACITY LIMITED PARTNERSHIP
CONDENSED BALANCE SHEET
December 31, 1997
(Unaudited)
(In Thousands of Dollars)
ASSETS
Fixed Assets:
Property and equipment, net $373
Organization Costs, net 3
Other Assets 339
Total fixed Assets 715
Current Assets:
Cash and temporary Cash Investments 109
Accounts Receivable 93
Prepayments and Other Assets 51
Total Current Assets 253
TOTAL ASSETS $968
LIABILITIES
Partnership Equity:
Partnership Equity - EUA TransCapacity ($11,835)
Partnership Equity - NCRSCo (367)
Partnership Equity - TransCapacity SC (539)
Total Common Equity (12,741)
Long Term Liabilities:
Notes Payable to EUA Energy 11,250
Total Long Term Liabilities 11,250
Total Capitalization (1,491)
Current Liabilities:
Accounts Payable 12
Current portion of capital lease liability 2
Notes Payable 55
Accrued Expenses 2,390
Total Current Liabilities 2,459
TOTAL LIABILITIES AND EQUITY $968
TRANSCAPACITY LIMITED PARTNERSHIP
CONDENSED INCOME STATEMENT
For the Period Ended December 31, 1997
(Unaudited)
(In Thousands of Dollars)
QUARTER ENDED YTD
Operating Income $113 $511
Operating Expenses:
Data Acquisition/Comm Expenses 65 212
Research and Development Expenses 134 504
General and Administrative Expenses 675 2,579
Depreciation & Amortization 105 438
Total Operating Expenses 979 3,733
Operating Income (866) (3,222)
Other Income and Deductions (2) (59)
Income Before Interest Charges (868) (3,281)
Interest Charges 279 1,017
Income After Interest Charges (1,147) (4,298)
Pre-tax Net Income ($1,147) ($4,298)
TRANSCAPACITY LIMITED PARTNERSHIP
STATEMENT OF CASH FLOWS
For the Twelve Months Ended December 31, 1997
(Unaudited)
(In Thousands of Dollars)
Operating Activities:
Pre-tax Net Income ($4,298)
Depreciation & Amortization 438
Change in Assets and Liabilities:
Accounts & Notes Receivable (265)
Accounts & Notes Payable (5)
Accrued Expenses 1,013
Other (Net) 233
Net Operating Activities (2,884)
Financing Activities:
Long Term Debt 3,190
Other (Net) (4)
Net Financing Activities 3,186
Investing Activities:
Payments for Affiliate Expenses (59)
Capital Expenditures (238)
Net Investing Activities (297)
Cash Provided (Used) $5
EUA ENERGY INVESTMENT CORPORATION
INVESTMENT IN TRANSCAPACITY L.P.
FOURTH QUARTER 1997
(5) Number of transactions processed by TransCapacity L.P. during the
fourth quarter of 1997.
Answer - 253
Number of transactions processed by TransCapacity L.P. during the
fourth quarter of 1997 for customers located in New England.
Answer - 53
(6) Number of TransCapacity L.P. customers as of the end of the fourth
quarter of 1997.
Answer - 12
Number of TransCapacity L.P. customers as of the end of the fourth
quarter of 1997 located in New England.
Answer - ONE
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