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 December 31, 1997.
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: March 27, 1998
EUA ENERGY INVESTMENT CORPORATION
ENERGY AND ENERGY CONSERVATION RESEARCH
FOURTH QUARTER 1997
(1) EUA Energy Investment Corporation Financial Statements for
the fourth quarter 1997.
EUA ENERGY INVESTMENT CORPORATION
CONDENSED BALANCE SHEET
December 31, 1997
(Unaudited)
(In Thousands of Dollars)
ASSETS
Property and other investments:
Investment - Subsidiaries ($5,387)
Other Assets 787
Total fixed Assets (4,600)
Current Assets:
Cash and Temporary Cash Investments 2
Notes Receivable 23,975
Accounts Receivable (104)
Prepayments and Other Assets 1,000
Total Current Assets 24,873
TOTAL ASSETS $20,273
LIABILITIES
Common Stock and Other Paid-In Capital $1
Retained (Loss) Earnings (16,782)
Total Common Equity (16,781)
Total Capitalization (16,781)
Current Liabilities:
Notes Payable to Parent 37,791
Accounts Payable 27
Accrued Interest 498
Total Current Liabilities 38,316
Accumulated Deferred Taxes (1,262)
TOTAL LIABILITIES AND EQUITY $20,273
EUA ENERGY INVESTMENT CORPORATION
CONDENSED INCOME STATEMENT
For the Quarter Ended and YTD December 31, 1997
(Unaudited)
(In Thousands of Dollars)
QUARTER ENDED YTD
Operating Income $0 $0
Operating Expenses:
Operation 186 534
Depreciation & Amortization 5 20
Taxes - Other 2 11
Income and Deferred Taxes 78 (577)
Total Operating Expenses 271 (12)
Operating Income (271) 12
Other Income and Deductions 241 (1,788)
Loss Before Interest Charges (30) (1,776)
Interest Charges:
Interest Expense - Associated Companies 559 1,961
Other Interest Expense 1 4
Total Interest Charges 560 1,965
Net Income (Loss) ($590) ($3,741)
EUA ENERGY INVESTMENT CORPORATION
STATEMENT OF CASH FLOWS
For the Twelve Months Ended December 31, 1997
(Unaudited)
(In Thousands of Dollars)
Operating Activities:
Pre-tax Net Income ($3,741)
Change in Assets and Liabilities:
Accounts & Notes Receivable (7,219)
Accounts & Notes Payable 9,367
Accrued Expenses 57
Deferred Income Taxes (25)
Other (Net) (1,282)
Net Cash (Used In) Operating Activities (2,843)
Investing Activities:
Investments in Subsidiaries 2,830
Net Cash Provided From Investing Activities 2,830
Cash Provided (Used) ($13)
EUA ENERGY INVESTMENT CORPORATION
ENERGY AND ENERGY CONSERVATION RESEARCH
FOURTH QUARTER 1997
(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 fourth quarter of 1997.
(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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