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 March 31, 1999.
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: June 29, 1999
EUA ENERGY INVESTMENT CORPORATION
ENERGY AND ENERGY CONSERVATION RESEARCH
FIRST QUARTER 1999
(1) EUA Energy Investment Corporation Financial Statements for
the first quarter 1999.
EUA ENERGY INVESTMENT CORPORATION
CONDENSED BALANCE SHEET
March 31, 1999
(Unaudited)
(In Thousands of Dollars)
ASSETS
Property and other investments:
Investment - Subsidiaries ($13,590)
Other Assets 3,528
Total fixed Assets (10,062)
Current Assets:
Cash and Temporary Cash Investments 78
Notes Receivable 36,709
Accounts Receivable 748
Prepayments and Other Assets 1,504
Total Current Assets 39,039
TOTAL ASSETS $28,977
LIABILITIES
Common Stock and Other Paid-In Capital $1
Retained (Loss) Earnings (25,399)
Total Common Equity (25,398)
Total Capitalization (25,398)
Current Liabilities:
Notes Payable to Parent 54,017
Accounts Payable 63
Accrued Interest 1,511
Total Current Liabilities 55,591
Accumulated Deferred Taxes (1,216)
TOTAL LIABILITIES AND EQUITY $28,977
EUA ENERGY INVESTMENT CORPORATION
CONDENSED INCOME STATEMENT
For the Quarter and Year to Date Periods Ended March 31, 1999
(Unaudited)
(In Thousands of Dollars)
QUARTER ENDED YTD
Operating Income $0 $0
Operating Expenses:
Operation 120 120
Depreciation & Amortization 5 5
Taxes - Other 4 4
Income and Deferred Taxes (241) (241)
Total Operating Expenses (112) (112)
Operating Income 112 112
Other Income and Deductions (616) (616)
Loss Before Interest Charges (504) (504)
Interest Charges:
Interest Expense - Associated Companies 689 689
Other Interest Expense 1 1
Total Interest Charges 690 690
Net Income (Loss) ($1,194) ($1,194)
EUA ENERGY INVESTMENT CORPORATION
STATEMENT OF CASH FLOWS
For the Three Months Ended March 31, 1999
(Unaudited)
(In Thousands of Dollars)
Operating Activities:
Pre-tax Net Income ($1,194)
Change in Assets and Liabilities:
Accounts & Notes Receivable (2,963)
Accounts & Notes Payable 2,778
Accrued Expenses 688
Deferred Income Taxes 9
Other (Net) (2,967)
Net Cash (Used In) Operating Activities (3,649)
Investing Activities:
Investments in Subsidiaries 3,711
Net Cash Provided From Investing Activities 3,711
Cash Provided (Used) $62
EUA ENERGY INVESTMENT CORPORATION
ENERGY AND ENERGY CONSERVATION RESEARCH
FIRST QUARTER 1999
(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 first quarter of 1999.
EUA Energy and Phillips Development Corporation have agreed to
discontinue Allquest Compression Services, LLC.
(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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