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, 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: September 29, 1998
EUA ENERGY INVESTMENT CORPORATION
ENERGY AND ENERGY CONSERVATION RESEARCH
SECOND QUARTER 1998
(1) EUA Energy Investment Corporation Financial Statements for
the second quarter 1998.
EUA ENERGY INVESTMENT CORPORATION
CONDENSED BALANCE SHEET
June 30, 1998
(Unaudited)
(In Thousands of Dollars)
ASSETS
Property and other investments:
Investment - Subsidiaries ($9,691)
Other Assets 838
Total fixed Assets (8,853)
Current Assets:
Cash and Temporary Cash Investments 38
Notes Receivable 29,124
Accounts Receivable 348
Prepayments and Other Assets 1,650
Total Current Assets 31,160
TOTAL ASSETS $22,307
LIABILITIES
Common Stock and Other Paid-In Capital $1
Retained (Loss) Earnings (21,334)
Total Common Equity (21,333)
Total Capitalization (21,333)
Current Liabilities:
Notes Payable to Parent 43,143
Accounts Payable 57
Accrued Interest 1,688
Total Current Liabilities 44,888
Accumulated Deferred Taxes (1,248)
TOTAL LIABILITIES AND EQUITY $22,307
EUA ENERGY INVESTMENT CORPORATION
CONDENSED INCOME STATEMENT
For the Quarter and Year to Date Periods Ended June 30, 1998
(Unaudited)
(In Thousands of Dollars)
QUARTER ENDED YTD
Operating Income $0 $0
Operating Expenses:
Operation 127 228
Depreciation & Amortization 5 10
Taxes - Other 2 7
Income and Deferred Taxes (215) (320)
Total Operating Expenses (81) (75)
Operating Income 81 75
Other Income and Deductions (721) (1,298)
Loss Before Interest Charges (640) (1,223)
Interest Charges:
Interest Expense - Associated Companies 619 1,191
Other Interest Expense 1 2
Total Interest Charges 620 1,193
Net Income (Loss) ($1,260) ($2,416)
EUA ENERGY INVESTMENT CORPORATION
STATEMENT OF CASH FLOWS
For the Six Months Ended June 30, 1998
(Unaudited)
(In Thousands of Dollars)
Operating Activities:
Pre-tax Net Income ($2,416)
Change in Assets and Liabilities:
Accounts & Notes Receivable (5,601)
Accounts & Notes Payable 5,383
Accrued Expenses 1,190
Deferred Income Taxes 14
Other (Net) (702)
Net Cash (Used In) Operating Activities (2,132)
Financing Activities:
Long Term Debt (2,136)
Net Financing Activities (2,136)
Investing Activities:
Investments in Subsidiaries 4,304
Net Cash Provided From Investing Activities 4,304
Cash Provided (Used) $36
EUA ENERGY INVESTMENT CORPORATION
ENERGY AND ENERGY CONSERVATION RESEARCH
SECOND 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 second 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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