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 March 31, 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: May 26, 1998
EUA ENERGY INVESTMENT CORPORATION
INVESTMENT IN TRANSCAPACITY L.P.
FIRST QUARTER 1998
(1) In the first quarter of 1998 TransCapacity L.P. was operational and
was actively marketing their Capacity Scout System.
(2) EUA Energy advanced $760,000 in loans to TransCapacity in the first
quarter of 1998. On a cumulative basis EUA has invested $14,860,000
in TransCapacity.
(3) Services were provided by three (3) EUA Service Corporation staff
personnel in the following: Management and Taxation.
(4) TransCapacity L.P. Financial Statements for the first quarter 1998.
TRANSCAPACITY LIMITED PARTNERSHIP
CONDENSED BALANCE SHEET
March 31, 1998
(Unaudited)
(In Thousands of Dollars)
ASSETS
Fixed Assets:
Property and equipment, net $342
Organization Costs, net 1
Other Assets 290
Total fixed Assets 633
Current Assets:
Cash and temporary Cash Investments 145
Accounts Receivable 33
Prepayments and Other Assets 57
Total Current Assets 235
TOTAL ASSETS $868
LIABILITIES
Partnership Equity:
Partnership Equity - EUA TransCapacity ($13,001)
Partnership Equity - NCRSCo (367)
Partnership Equity - TransCapacity SC (539)
Total Common Equity (13,907)
Long Term Liabilities:
Notes Payable to EUA Energy 12,010
Total Long Term Liabilities 12,010
Total Capitalization (1,897)
Current Liabilities:
Accounts Payable 28
Current portion of capital lease liability 2
Notes Payable 55
Accrued Expenses 2,680
Total Current Liabilities 2,765
TOTAL LIABILITIES AND EQUITY $868
TRANSCAPACITY LIMITED PARTNERSHIP
CONDENSED INCOME STATEMENT
For the Period Ended March 31, 1998
(Unaudited)
(In Thousands of Dollars)
QUARTER ENDED YTD
Operating Income $63 $63
Operating Expenses:
Data Acquisition/Comm Expenses 59 59
Research and Development Expenses 134 134
General and Administrative Expenses 640 640
Depreciation & Amortization 105 105
Total Operating Expenses 938 938
Operating Income (875) (875)
Other Income and Deductions (2) (2)
Income Before Interest Charges (877) (877)
Interest Charges 289 289
Income After Interest Charges (1,166) (1,166)
Pre-tax Net Income ($1,166) ($1,166)
TRANSCAPACITY LIMITED PARTNERSHIP
STATEMENT OF CASH FLOWS
For the Three Months Ended March 31, 1998
(Unaudited)
(In Thousands of Dollars)
Operating Activities:
Pre-tax Net Income ($1,166)
Depreciation & Amortization 105
Change in Assets and Liabilities:
Accounts & Notes Receivable 25
Accounts & Notes Payable 14
Accrued Expenses 290
Other (Net) 33
Net Operating Activities (699)
Financing Activities:
Long Term Debt 760
Other (Net) (1)
Net Financing Activities 759
Investing Activities:
Payments for Affiliate Expenses (4)
Capital Expenditures (21)
Net Investing Activities (25)
Cash Provided (Used) $35
EUA ENERGY INVESTMENT CORPORATION
INVESTMENT IN TRANSCAPACITY L.P.
FIRST QUARTER 1998
(5) Number of transactions processed by TransCapacity L.P. during the
first quarter of 1998.
Answer - 199
Number of transactions processed by TransCapacity L.P. during the
first quarter of 1998 for customers located in New England.
Answer - 48
(6) Number of TransCapacity L.P. customers as of the end of the first
quarter of 1998.
Answer - 12
Number of TransCapacity L.P. customers as of the end of the first
quarter of 1998 located in New England.
Answer - ONE
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