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 June 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: August 17, 1998
EUA ENERGY INVESTMENT CORPORATION
INVESTMENT IN TRANSCAPACITY L.P.
SECOND QUARTER 1998
(1) In the second 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 second
quarter of 1998. On a cumulative basis EUA has invested $16,658,000
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 second quarter 1998.
TRANSCAPACITY LIMITED PARTNERSHIP
CONDENSED BALANCE SHEET
June 30, 1998
(Unaudited)
(In Thousands of Dollars)
ASSETS
Fixed Assets:
Property and equipment, net $311
Other Assets 277
Total fixed Assets 588
Current Assets:
Cash and temporary Cash Investments 154
Accounts Receivable 64
Prepayments and Other Assets 54
Total Current Assets 272
TOTAL ASSETS $860
LIABILITIES
Partnership Equity:
Partnership Equity - EUA TransCapacity ($14,135)
Partnership Equity - NCRSCo (367)
Partnership Equity - TransCapacity SC (539)
Total Common Equity (15,041)
Long Term Liabilities:
Notes Payable to EUA Energy 12,808
Total Long Term Liabilities 12,808
Total Capitalization (2,233)
Current Liabilities:
Accounts Payable 32
Current portion of capital lease liability 1
Notes Payable 55
Accrued Expenses 2,926
Deferred Revenue 79
Total Current Liabilities 3,093
TOTAL LIABILITIES AND EQUITY $860
TRANSCAPACITY LIMITED PARTNERSHIP
CONDENSED INCOME STATEMENT
For the Period Ended June 30, 1998
(Unaudited)
(In Thousands of Dollars)
QUARTER ENDED YTD
Operating Income $92 $155
Operating Expenses:
Data Acquisition/Comm Expenses 42 101
Research and Development Expenses 121 255
General and Administrative Expenses 649 1,289
Depreciation & Amortization 87 192
Total Operating Expenses 899 1,837
Operating Income (807) (1,682)
Other Income and Deductions (19) (21)
Income Before Interest Charges (826) (1,703)
Interest Charges 289 596
Income After Interest Charges (1,133) (2,299)
Pre-tax Net Income ($1,133) ($2,299)
TRANSCAPACITY LIMITED PARTNERSHIP
STATEMENT OF CASH FLOWS
For the Six Months Ended June 30, 1998
(Unaudited)
(In Thousands of Dollars)
Operating Activities:
Pre-tax Net Income ($2,299)
Depreciation & Amortization 192
Change in Assets and Liabilities:
Accounts & Notes Receivable (44)
Accounts & Notes Payable 24
Accrued Expenses 590
Other (Net) 120
Net Operating Activities (1,417)
Financing Activities:
Long Term Debt 1,558
Other (Net) (2)
Net Financing Activities 1,556
Investing Activities:
Payments for Affiliate Expenses (25)
Capital Expenditures (69)
Net Investing Activities (94)
Cash Provided (Used) $45
EUA ENERGY INVESTMENT CORPORATION
INVESTMENT IN TRANSCAPACITY L.P.
SECOND QUARTER 1998
(5) Number of transactions processed by TransCapacity L.P. during the
second quarter of 1998.
Answer - 889
Number of transactions processed by TransCapacity L.P. during the
second quarter of 1998 for customers located in New England.
Answer - 24
(6) Number of TransCapacity L.P. customers as of the end of the second
quarter of 1998.
Answer - 13
Number of TransCapacity L.P. customers as of the end of the second
quarter of 1998 located in New England.
Answer - ONE
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