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, 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: March 24, 1999
EUA ENERGY INVESTMENT CORPORATION
ENERGY AND ENERGY CONSERVATION RESEARCH
FOURTH QUARTER 1998
(1) EUA Energy Investment Corporation Financial Statements for
the fourth quarter 1998.
EUA ENERGY INVESTMENT CORPORATION
CONDENSED BALANCE SHEET
December 31, 1998
(Unaudited)
(In Thousands of Dollars)
ASSETS
Property and other investments:
Investment - Subsidiaries ($9,879)
Other Assets 927
Total fixed Assets (8,952)
Current Assets:
Cash and Temporary Cash Investments 16
Notes Receivable 34,069
Accounts Receivable 425
Prepayments and Other Assets 1,139
Total Current Assets 35,649
TOTAL ASSETS $26,697
LIABILITIES
Common Stock and Other Paid-In Capital $1
Retained (Loss) Earnings (24,204)
Total Common Equity (24,203)
Total Capitalization (24,203)
Current Liabilities:
Notes Payable to Parent 51,216
Accounts Payable 86
Accrued Interest 823
Total Current Liabilities 52,125
Accumulated Deferred Taxes (1,225)
TOTAL LIABILITIES AND EQUITY $26,697
EUA ENERGY INVESTMENT CORPORATION
CONDENSED INCOME STATEMENT
For the Quarter and Year to Date Periods Ended December 31, 1998
(Unaudited)
(In Thousands of Dollars)
QUARTER ENDED YTD
Operating Income $0 $0
Operating Expenses:
Operation 112 480
Depreciation & Amortization 7 22
Taxes - Other 4 16
Income and Deferred Taxes (342) (902)
Total Operating Expenses (219) (384)
Operating Income 219 384
Other Income and Deductions (1,157) (3,053)
Loss Before Interest Charges (938) (2,669)
Interest Charges:
Interest Expense - Associated Companies 708 2,614
Other Interest Expense 1 4
Total Interest Charges 709 2,618
Net Income (Loss) ($1,647) ($5,287)
EUA ENERGY INVESTMENT CORPORATION
STATEMENT OF CASH FLOWS
For the Twelve Months Ended December 31, 1998
(Unaudited)
(In Thousands of Dollars)
Operating Activities:
Pre-tax Net Income ($5,287)
Change in Assets and Liabilities:
Accounts & Notes Receivable (10,623)
Accounts & Notes Payable 13,484
Accrued Expenses 325
Deferred Income Taxes 37
Other (Net) (278)
Net Cash (Used In) Operating Activities (2,342)
Financing Activities:
Long Term Debt (2,136)
Net Financing Activities (2,136)
Investing Activities:
Investments in Subsidiaries 4,492
Net Cash Provided From Investing Activities 4,492
Cash Provided (Used) $14
EUA ENERGY INVESTMENT CORPORATION
ENERGY AND ENERGY CONSERVATION RESEARCH
FOURTH 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 fourth 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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