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 December 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: February 26, 1999
EUA ENERGY INVESTMENT CORPORATION
INVESTMENT IN TRANSCAPACITY L.P.
FOURTH QUARTER 1998
(1) In the fourth quarter of 1998 TransCapacity L.P. was operational and
was actively marketing their Capacity Scout System.
(2) EUA Energy advanced $932,000 in loans to TransCapacity in the fourth
quarter of 1998. On a cumulative basis EUA has invested $17,350,000
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 fourth quarter 1998.
TRANSCAPACITY LIMITED PARTNERSHIP
CONDENSED BALANCE SHEET
December 31, 1998
(Unaudited)
(In Thousands of Dollars)
ASSETS
Fixed Assets:
Property and equipment, net $173
Other Assets 304
Total fixed Assets 477
Current Assets:
Cash and temporary Cash Investments 252
Accounts Receivable 29
Prepayments and Other Assets 38
Total Current Assets 319
TOTAL ASSETS $796
LIABILITIES
Partnership Equity:
Partnership Equity - EUA TransCapacity ($16,487)
Partnership Equity - NCRSCo (367)
Partnership Equity - TransCapacity SC (539)
Total Common Equity (17,393)
Long Term Liabilities:
Notes Payable to EUA Energy 14,500
Total Long Term Liabilities 14,500
Total Capitalization (2,893)
Current Liabilities:
Accounts Payable 10
Notes Payable 54
Accrued Expenses 3,570
Deferred Revenue 55
Total Current Liabilities 3,689
TOTAL LIABILITIES AND EQUITY $796
TRANSCAPACITY LIMITED PARTNERSHIP
CONDENSED INCOME STATEMENT
For the Period Ended December 31, 1998
(Unaudited)
(In Thousands of Dollars)
QUARTER ENDED YTD
Operating Revenue $117 $337
Operating Expenses:
Data Acquisition/Comm Expenses 89 235
Research and Development Expenses 123 500
General and Administrative Expenses 671 2,648
Depreciation & Amortization 56 308
Total Operating Expenses 939 3,691
Operating Income (822) (3,354)
Other Income and Deductions (35) (57)
Income Before Interest Charges (857) (3,411)
Interest Charges 320 1,241
Income After Interest Charges (1,177) (4,652)
Pre-tax Net Income ($1,177) ($4,652)
TRANSCAPACITY LIMITED PARTNERSHIP
STATEMENT OF CASH FLOWS
For the Twelve Months Ended December 31, 1998
(Unaudited)
(In Thousands of Dollars)
Operating Activities:
Pre-tax Net Income ($4,652)
Depreciation & Amortization 308
Change in Assets and Liabilities:
Accounts & Notes Receivable (84)
Accounts & Notes Payable 64
Accrued Expenses 1,233
Other (Net) 196
Net Operating Activities (2,935)
Financing Activities:
Long Term Debt 3,250
Other (Net) (3)
Net Financing Activities 3,247
Investing Activities:
Payments for Affiliate Expenses (32)
Capital Expenditures (137)
Net Investing Activities (169)
Cash Provided $143
EUA ENERGY INVESTMENT CORPORATION
INVESTMENT IN TRANSCAPACITY L.P.
FOURTH QUARTER 1998
(5) Number of transactions processed by TransCapacity L.P. during the
fourth quarter of 1998.
Answer - 121
Number of transactions processed by TransCapacity L.P. during the
fourth quarter of 1998 for customers located in New England.
Answer - 3
(6) Number of TransCapacity L.P. customers as of the end of the fourth
quarter of 1998.
Answer - 16
Number of TransCapacity L.P. customers as of the end of the fourth
quarter of 1998 located in New England.
Answer - ONE
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