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 June 30, 1999 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: August 27, 1999
EUA ENERGY INVESTMENT CORPORATION
INVESTMENT IN TRANSCAPACITY L.P.
SECOND QUARTER 1999
(1) In the second quarter of 1999 TransCapacity L.P. was operational and
was actively marketing their Capacity Scout System.
(2) EUA Energy advanced $400,000 in loans to TransCapacity in the second
quarter of 1999. On a cumulative basis EUA has invested $18,500,000
in TransCapacity.
(3) Services were provided by three (3) EUA Service Corporation staff
personnel in the following areas: Management and Taxation.
(4) EUA Energy Investment has ceased normal operations of Transcapacity L.P.
effective July 31, 1999. EUA Energy has received a letter of intent from
an interested third party to acquire certain assets and assume certain
liabilities of Transcapacity, L.P. EUA Energy Investment anticipates
completing the transaction by September 1, 1999.
TransCapacity L.P. Financial Statements for the second quarter 1999:
TRANSCAPACITY LIMITED PARTNERSHIP
CONDENSED BALANCE SHEET
June 30, 1999
(Unaudited)
(In Thousands of Dollars)
ASSETS
Fixed Assets:
Property and equipment, net $109
Other Assets 268
Total fixed Assets 377
Current Assets:
Cash and temporary Cash Investments 82
Accounts Receivable 110
Prepayments and Other Assets 30
Total Current Assets 222
TOTAL ASSETS $599
LIABILITIES
Partnership Equity:
Partnership Equity - EUA TransCapacity ($18,634)
Partnership Equity - NCRSCo (367)
Partnership Equity - TransCapacity SC (389)
Total Common Equity (19,390)
Long Term Liabilities:
Notes Payable to EUA Energy 15,650
Total Long Term Liabilities 15,650
Total Capitalization (3,740)
Current Liabilities:
Accounts Payable 11
Notes Payable 55
Accrued Expenses 4,227
Deferred Revenue 46
Total Current Liabilities 4,339
TOTAL LIABILITIES AND EQUITY $599
TRANSCAPACITY LIMITED PARTNERSHIP
CONDENSED INCOME STATEMENT
For the Six Month Period Ended June 30, 1999
(Unaudited)
(In Thousands of Dollars)
QUARTER ENDED YTD
Operating Revenue $156 $273
Operating Expenses:
Data Acquisition/Comm Expenses 78 131
Research and Development Expenses 132 276
General and Administrative Expenses 538 1,232
Depreciation & Amortization 64 117
Total Operating Expenses 812 1,756
Operating Income (656) (1,483)
Other Income and Deductions (5) (4)
Income Before Interest Charges (661) (1,487)
Interest Charges 322 659
Income After Interest Charges (983) (2,146)
Pre-tax Net Income ($983) ($2,146)
TRANSCAPACITY LIMITED PARTNERSHIP
STATEMENT OF CASH FLOWS
For the Six Months Ended June 30, 1999
(Unaudited)
(In Thousands of Dollars)
Operating Activities:
Pre-tax Net Income ($2,146)
Depreciation & Amortization 117
Change in Assets and Liabilities:
Accounts & Notes Receivable (163)
Accounts & Notes Payable 5
Accrued Expenses 657
Other (Net) 88
Net Operating Activities (1,442)
Financing Activities:
Long Term Debt 1,150
Other (Net) 150
Net Financing Activities 1,300
Investing Activities:
Payments for Affiliate Expenses (8)
Capital Expenditures (20)
Net Investing Activities (28)
Cash Provided $(170)
EUA ENERGY INVESTMENT CORPORATION
INVESTMENT IN TRANSCAPACITY L.P.
SECOND QUARTER 1999
(5) Number of transactions processed by TransCapacity L.P. during the
second quarter of 1999.
Answer - 2540
Number of transactions processed by TransCapacity L.P. during the
second quarter of 1999 for customers located in New England.
Answer - 6
(6) Number of TransCapacity L.P. customers as of the end of the second
quarter of 1999.
Answer - 11
Number of TransCapacity L.P. customers as of the end of the second
quarter of 1999 located in New England.
Answer - 2.
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