File No. 70-6527
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
STATEMENT BY
PROVIDENCE ENERGY CORPORATION
By transmittal letter dated November 17, 1986, counsel for
Providence Energy Corporation (the "claimant") filed on behalf of
the claimant an application with the Securities and Exchange
Commission (the "Commission") requesting (i) the Commission's
approval of the proposed acquisition by the claimant of the
outstanding capital stock of North Attleboro Gas Company and (ii)
an order of the Commission continuing the exemption of the claimant
from the registration and related provisions of the Public Utility
Holding Company Act of 1935 (the "Act") pursuant to Section 3(a)(1)
of the Act.
Said application was subsequently amended by Amendments
Numbers 1 and 2, duly filed with the Commission.
By order dated March 10, 1987 the Commission evidenced its
approval of the proposed acquisition but reserved jurisdiction with
respect to the requested Section 3(a)(1) exemption.
Pursuant to discussions between the Commission staff and
counsel for the claimant, the claimant is treating the application
for exemption as having been made under Section 3(a) of the Act and
accordingly considers the filing of such application in good faith
as exempting the claimant to the extent and for the period specified
in Section 3(c) of the Act, and in accordance with the claimants committment
to the Commission the claimant provides the Commission with the following
information, all to the extent otherwise required under
1. The name of the claimant is Providence Energy Corporation.
The claimant is organized under the laws of the State of Rhode
Island. The claimant's principal offices are located at 100
Weybosset Street, Providence, Rhode Island 02903. The claimant's
business is that of a holding company.
The claimant owns two subsidiary public utility companies, to
wit,
Providence Gas is organized under the laws of the State
of Rhode Island, is engaged in the business of
distributing gas in 25 cities and towns in the State of
Rhode Island, and has its principal offices at 100 Weybosset
Street, Providence, Rhode Island 02903. ProvEnergy
Investments, Ltd. is a subsidiary of Providence Gas.
(b) North Attleboro Gas Company ("North Attleboro Gas"):
North Attleboro Gas is organized under the laws of the
Commonwealth of Massachusetts, is engaged in the business of
distributing gas in the Town's of North Attleboro and
Plainville, Massachusetts, and has its principal offices at
62 Reed Avenue, North Attleboro, Massachusetts 02761. The
claimant owns two subsidiary non-utility companies,
-2-
Resource Monitors, Inc. ("Resource Monitors"), both Rhode
Island corporations. The principal offices of both
corporations are at 100 Weybosset Street, Providence, Rhode
Island 02903. Newport America in turn owns all of the
outstanding common stock of four non-utility corporations.
Neither Newport America and its subsidiaries, taken in the
aggregate, nor Resource Monitors constitutes a significant
subsidiary of the claimant.
For description of the businesses of the claimant's
subsidiaries, reference is made to Items 1 and 2 of the Annual
Report of the claimant to the Securities and Exchange
Commission on Form 10-K for the fiscal year ended September
30, 1993.
2. The claimant owns two subsidiary public utility companies,
to wit, Providence Gas and North Attleboro Gas.
For a description of the properties of Providence Gas and
North Attleboro Gas used for the distribution of natural gas,
reference is made to Items 1 and 2 of the Annual Report of the
claimant to the Securities and Exchange Commission on Form
10-K for the fiscal year ended September 30, 1993.
3. (a) During the 1993 calendar year, the claimant and its
public utility subsidiary companies, Providence Gas and North
Attleboro Gas, distributed at retail a total of 26,346,740 Mcf
of natural or manufactured gas, as follows:
-3-
Providence Gas North Attleboro Gas
Mcf Mcf
Residential 13,610,883 254,521
Commercial &
Industrial 8,833,457 122,907
Interruptible 2,834,290 0
Sale for Resale 690,682 0
Total Sales 25,969,312 377,428
Transportation 430,044 0
Total Sold and
Transported: 26,399,356 377,428
(b) During the 1993 calendar year, Providence Gas sold at
wholesale under a sale-for-resale blanket certificate granted to
Providence Gas by the Federal Energy Regulatory Authority in Docket
#CI-9152. During 1993, 690,682 Mcf were sold to various gas
utilities and marketers subject to the sale-for-resale certificate
generating a total of $1,865,988 in revenue.
(c) During the 1993 calendar year, neither the claimant nor
its subsidiary public utility company North Attleboro Gas sold at
wholesale outside the Commonwealth of Massachusetts, or at the
Massachusetts state line, any natural or manufactured gas.
(d) During the 1993 calendar year, the claimant and its
subsidiary Providence Gas purchased 26,989,761 Mcf of natural gas
outside the State of Rhode Island or at the Rhode Island state
line.
(e) During the 1993 calendar year, the claimant and its
subsidiary North Attleboro Gas purchased 412,806 Mcf of natural gas
outside the Commonwealth of Massachusetts or at the Massachusetts
state line.
-4-
EXHIBIT A
Attached hereto is a consolidating balance sheet of the
claimant and its subsidiary companies, as at September 30, 1993,
together with a consolidating statement of income of claimant and
such subsidiary companies for the fiscal year then ended.
The above-named claimant has caused this statement to be duly
executed on its behalf by its duly authorized officer, on this
day of April, 1994.
PROVIDENCE ENERGY CORPORATION
(Name of Claimant)
By
Gary S. Gillheeney
Vice President of Financial
and Information Services,
and Treasurer
ATTEST:
Alycia L. Goody, Secretary
Name, title, and address of officer to whom notices and
correspondence concerning this statement should be addressed:
Gary S. Gillheeney Vice President of Financial and
(Name) Information Services, and
Treasurer
(Title)
Providence Gas Company
100 Weybosset Street, Providence, RI 02903
(Address)
-5-
CONSOLIDATED BALANCE SHEET
YTD ENDING 09/30/93
PROVIDENCE PROV GAS
ENERGY CO.
GAS PLNT@ ORIG COST 213,217,746.50
LESS ACC DEP/ACQADJ (71,288,753.30)
NONUTILITY PLANT
LESS ACC DEP/ACQADJ
CURRENT ASSETS:
CASH &TEMPINVSTMNTS 484,201.46 596,793.25
PRPD & RFNDBL TAXES 349,913.42 6,169,280.66
ACCOUNTS REC - NET 840.00 16,859,969.95
NOTES REC - NPT 2,345,350.94
NOTES REC - NAG 1,408,500.00
ACCNTS REC - NAR 3,149.53
ACCNTS REC - SAM
ACCNTS REC - PAT
ACCNTS REC - ENC 40,741.04
ACCNTS REC - NEW 3,581.28 28,865.84
ACCNTS REC - NAG 8,699.92 77,345.90
ACCNTS REC - PGC 44,257.32
NOTES - PIL (30,092.31)
ACCNTS REC - SUBS 3,780,297.15 80,491.31
UNBILLED REVENUES 2,786,916.00
LNG,PROPANE,UNDGRND 11,362,885.68
MATERIALS&SUPLLIES 1,762,763.17
PREPAYMENTS OTHER 47,108.00 837,440.43
NETASSTS FR DIS OPS
DEFERRED GAS COSTS 9,768,853.76
DEF CAPACITY CHRGES
INVESTMNTS IN SUBS:
PROV GAS COMPANY 66,654,836.92
NEWPORT AMERICA 497,043.76
NO ATTLEBORO GAS 3,476,100.63
DEFERRED CHARGES 22,541.43 12,656,664.24
TOTAL ASSETS 75,312,882.77 204,811,051.65
Deferred Gas Costs of $9,852,820.76 should be adjusted to include
an additional $6,600,000.00 for a total of $16,453,820.76,
resulting in total assets of $224,550,157.18. The $6,600,000.00
adjustment was related to FERC Order 636 transition costs.
CONSOLIDATED BALANCE SHEET
YTD ENDING 09/30/93
NEWPORT NO. ATT.
AMERICA GAS
GAS PLNT@ ORIG COST 8,551,572.56
LESS ACC DEP/ACQADJ (1,147,622.09)
NONUTILITY PLANT 2,654,311.60
LESS ACC DEP/ACQADJ (536,192.87)
CURRENT ASSETS:
CASH &TEMPINVSTMNTS 343,207.28 30,873.10
PRPD & RFNDBL TAXES 157,162.43 493,634.11
ACCOUNTS REC - NET 168,015.00 208,912.88
NOTES REC - NPT
NOTES REC - NAG
ACCNTS REC - NAR
ACCNTS REC - SAM
ACCNTS REC - PAT
ACCNTS REC - ENC
ACCNTS REC - NEW
ACCNTS REC - NAG
ACCNTS REC - PGC 728.28
NOTES - PIL
ACCNTS REC - SUBS 728.28
UNBILLED REVENUES 66,786.00
LNG,PROPANE,UNDGRND 27,316.32
MATERIALS&SUPLLIES 91,638.49
PREPAYMENTS OTHER 6,302.00 19,386.68
NETASSTS FR DIS OPS 295,109.08
DEFERRED GAS COSTS 83,967.00
DEF CAPACITY CHRGES
INVESTMNTS IN SUBS:
PROV GAS COMPANY
NEWPORT AMERICA
NO ATTLEBORO GAS
DEFERRED CHARGES 1.00 800,611.96
TOTAL ASSETS 3,088,643.80 9,227,077.01
Deferred Gas Costs of $9,852,820.76 should be adjusted to include
an additional $6,600,000.00 for a total of $16,453,820.76,
resulting in total assets of $224,550,157.18. The $6,600,000.00
adjustment was related to FERC Order 636 transition costs.
CONSOLIDATED BALANCE SHEET
YTD ENDING 09/30/93
ELIM CONSOL
ENTRIES TOTAL
GAS PLNT@ ORIG COST 221,769,319.06
LESS ACC DEP/ACQADJ (72,436,375.39)
NONUTILITY PLANT 2,654,311.60
LESS ACC DEP/ACQADJ (536,192.87)
CURRENT ASSETS:
CASH &TEMPINVSTMNTS 1,455,075.09
PRPD & RFNDBL TAXES 7,169,990.62
ACCOUNTS REC - NET 17,237,737.83
NOTES REC - NPT (2,345,350.94)
NOTES REC - NAG (1,408,500.00)
ACCNTS REC - NAR (3,149.53)
ACCNTS REC - SAM
ACCNTS REC - PAT
ACCNTS REC - ENC (40,741.04)
ACCNTS REC - NEW (32,447.12)
ACCNTS REC - NAG (16,434.82)
ACCNTS REC - PGC (44,985.60)
NOTES - PIL 30,092.31
ACCNTS REC - SUBS (3,861,516.74)
UNBILLED REVENUES 2,853,702.00
LNG,PROPANE,UNDGRND 11,390,202.00
MATERIALS&SUPLLIES 1,854,401.66
PREPAYMENTS OTHER 910,237.11
NETASSTS FR DIS OPS 295,109.08
DEFERRED GAS COSTS 9,852,820.76
DEF CAPACITY CHRGES
INVESTMNTS IN SUBS:
PROV GAS COMPANY (66,654,836.92)
NEWPORT AMERICA (497,043.76)
NO ATTLEBORO GAS (3,476,100.63)
DEFERRED CHARGES 13,479,818.63
TOTAL ASSETS (74,489,498.05) 217,950,157.18
Deferred Gas Costs of $9,852,820.76 should be adjusted to include
an additional $6,600,000.00 for a total of $16,453,820.76,
resulting in total assets of $224,550,157.18. The $6,600,000.00
adjustment was related to FERC Order 636 transition costs.
CONSOLIDATED BALANCE SHEET
YTD ENDING 09/30/93
PROVIDENCE ENERGY PROV GAS COMPANY
CAPITALIZATION
COMMON STOCK 5,485,805.21 1,243,598.00
PAID IN CAPITAL 51,704,316.72 36,573,626.00
RETAINED EARNINGS 17,972,178.57 27,165,279.65
PREFERRED STOCK 8,000,000.00
CAPTL STCK EXPENS (121,909.85)
LONG TERM DEBT 46,629,317.53
LESS CURRENT PORTN (465,759.00)
TOT CAPTLZATION 75,162,300.50 119,024,152.33
CURRENT LIAB:
NOTES PAY TO BANKS 36,800,000.00
CURR PRTN L/T DEBT 465,759.00
GAS SUPPLR REFNDS (37,932.12)
ACCTS PAYABLE-NET 30,950.15 11,848,346.18
ACC PAYABLE-ENC 44,257.32
ACC PAYABLE-NAR 558.69
ACC PAYABLE-RMI
ACC PAYABLE-SAM 74.91
ACC PAYABLE-PAT 9.40
ACC PAYABLE-NPT 85.28
ACC PAYABLE-PGC 32,777.58
ACC PAYABLE-PIL 7,963.46
NOTES PAYBL-ENC (30,092.31)
ACCTS PAYBL-SUBS 40,741.04 14,893.29
ACCRUED TAXES (22.84) 7,355,894.61
ACCRUED VACATN 1,663,667.68
CUSTOMER DEPSTS 2,894,909.10
REF GAS CSTS
OTHER 2,993,441.52
DEF CREDTS & RSRV
ACCUM DEF INC TXS 13,422,882.09
UNAM INV TX CREDT 2,984,337.00
OTHER 78,913.92 5,380,700.97
TOT LIABILITIES 75,312,882.77 204,811,051.65
Accounts Payable of $12,018,456.03 should be adjusted to include an
additional $6,600,000.00 for a total of $18,618,456.03, resulting
in total liabilities of $224,550,157.18. The $6,600,000.00
adjustment was related to FERC Order 636 transition costs.
CONSOLIDATED BALANCE SHEET
YTD ENDING 09/30/93
NEWPORT NO.ATT. GAS
AMERICA
CAPITALIZATION
COMMON STOCK 675,100.00 120,000.00
PAID IN CAPITAL 7,972,221.06 4,134,261.27
RETAINED EARNINGS (8,150,277.30) (778,160.64)
PREFERRED STOCK
CAPTL STCK EXPENS
LONG TERM DEBT
LESS CURRENT PORTN
TOT CAPTLZATION 497,043.76 3,476,100.63
CURRENT LIAB:
NOTES PAY TO BANKS 3,000,000.00
CURR PRTN L/T DEBT
GAS SUPPLR REFNDS 58,745.24
ACCTS PAYABLE-NET 10,081.57 129,078.13
ACC PAYABLE-ENC 3,581.28 8,699.92
ACC PAYABLE-NAR
ACC PAYABLE-RMI
ACC PAYABLE-SAM
ACC PAYABLE-PAT
ACC PAYABLE-NPT
ACC PAYABLE-PGC 32,015.37 7,734.90
ACC PAYABLE-PIL
NOTES PAYBL-ENC 2,345,350.94 1,408,500.00
ACCTS PAYBL-SUBS 2,380,947.59 1,424,934.82
ACCRUED TAXES 108,926.51 95,388.86
ACCRUED VACATN 39,008.98
CUSTOMER DEPSTS 56,617.50
REF GAS CSTS
OTHER 25,089.38 369,002.85
DEF CREDTS & RSRV
ACCUM DEF INC TXS 42,500.00 552,444.00
UNAM INV TX CREDT 25,756.00
OTHER 24,054.99
TOT LIABILITIES 3,088,643.80 9,227,077.01
Accounts Payable of $12,018,456.03 should be adjusted to include an
additional $6,600,000.00 for a total of $18,618,456.03, resulting
in total liabilities of $224,550,157.18. The $6,600,000.00
adjustment was related to FERC Order 636 transition costs.
CONSOLIDATED BALANCE SHEET
YTD ENDING 09/30/93
ELIM CONSOL
ENTRIES TOTAL
CAPITALIZATION
COMMON STOCK (2,038,698.00) 5,485,805.21
PAID IN CAPITAL (48,680,108.33) 51,704,316.72
RETAINED EARNINGS (19,909,174.98) 16,299,845.30
PREFERRED STOCK 8,000,000.00
CAPTL STCK ESPENS (121,909.85)
LONG TERM DEBT 46,629,317.53
LESS CURRENT PORTN (465,759.00)
TOT CAPTLZATION (70,627,981.31) 127,531,615.91
CURRENT LIAB:
NOTES PAY TO BANKS 39,800,000.00
CURR PRTN L/T DEBT 465,759.00
GAS SUPPLR REFNDS 20,813.12
ACCTS PAYABLE-NET 12,018,456.03
ACC PAYABLE-ENC (56,538.52)
ACC PAYABLE-NAR (558.69)
ACC PAYABLE-RMI
ACC PAYABLE-SAM (74.91)
ACC PAYABLE-PAT (9.40)
ACC PAYABLE-NPT (85.28)
ACC PAYABLE-PGC (72,527.85)
ACC PAYABLE-PIL (7,963.46)
NOTES PAYBL-ENC (3,723,758.63)
ACCTS PAYBL-SUBS (3,861,516.74)
ACCRUED TAXES 7,560,187.14
ACCRUED VACATN 1,702,676.66
CUSTOMER DEPSTS 2,951,526.60
REF GAS CSTS
OTHER 3,387,533.75
DEF CREDTS & RSRV
ACCUM DEF INC TXS 14,017,826.09
UNAM INV TX CREDT 3,010,093.00
OTHER 5,483,669.88
TOT LIABILITIES (74,489,498.05) 217,950,157.18
Accounts Payable of $12,018,456.03 should be adjusted to include an
additional $6,600,000.00 for a total of $18,618,456.03, resulting
in total liabilities of $224,550,157.18. The $6,600,000.00
adjustment was related to FERC Order 636 transition costs.
PROVIDENCE ENERGY CORPORATION & SUBSIDIARIES
Y-T-D ENDING SEPTEMBER 30, 1993
DESCRIPTION PGC NAGC
OPERATING REVENUES 205,823,013 3,265,216
COST OF GAS SOLD 124,677,466 1,636,594
OPERATING MARGIN 81,145,547 1,628,622
OPERATING EXPENSES:
OTHER OPERATION 39,543,510 892,866
MAINTENANCE 3,486,815 113,865
DEPRECIATION & AMORT 8,912,111 160,666
STATE GROSS RECEIPTS 5,751,781 0
LOCAL PROPERTY 6,715,864 129,536
FEDERAL INCOME 3,507,323 46,708
67,917,404 1,343,641
OPERATING INCOME 13,228,143 284,981
NONUTLTY OPER &OTHR:
REVENUES 0 0
OPERATING COSTS 0 0
OTHER INCOME(EXP) 411,239 115,627
411,239 115,627
INCM FRM CONT OPER
BEFORE INT EXPNSE 13,639,382 400,608
INTEREST EXPENSE:
LONG TERM DEBT 5,169,977 0
OTHER 1,365,097 105,203
INTERCO INT (INC/EXP) 8,932 83,947
6,544,006 189,150
INCM AFTR INT EXPNSE 7,095,376 211,458
PREFRD DVIDNDS SUBS 696,000 0
INCM FRM CONT OPER 6,399,376 211,458
LOSS FROM DISCONTD
OPERATIONS,NET OF TAX 0 0
LOSS FRM DISPOSAL OF
DSCNTD OPER,NET OF TX 0 0
NET INCOME (LOSS) 6,399,376 211,458
PROVIDENCE ENERGY CORPORATION & SUBSIDIARIES
Y-T-D ENDING SEPTEMBER 30, 1993
DESCRIPTION PEC NEW
OPERATING REVENUES 0 0
COST OF GAS SOLD 0 0
OPERATING MARGIN 0 0
OPERATING EXPENSES:
OTHER OPERATION 0 0
MAINTENANCE 0 0
DEPRECIATION & AMORT 0 0
STATE GROSS RECEIPTS 0 0
LOCAL PROPERTY 0 0
FEDERAL INCOME 0 0
0 0
OPERATING INCOME 0 0
NONUTLTY OPER &OTHR:
REVENUES 0 0
OPERATING COSTS 0 0
OTHER INCOME(EXP) 7,285,151 (25,874)
7,285,151 (25,874)
INCM FRM CONT OPER
BEFORE INT EXPNSE 7,285,151 (25,874)
INTEREST EXPENSE:
LONG TERM DEBT 0 0
OTHER 1,153 9,198
INTERCO INT (INC/EXP) (84,199) (2,733)
(83,046) 6,465
INCM AFTR INT EXPNSE 7,368,197 (32,339)
PREFRD DVIDNDS SUBS 0 0
INCM FRM CONT OPER 7,368,197 (32,339)
LOSS FROM DISCONTD
OPERATIONS,NET OF TAX 0 0
LOSS FRM DISPOSAL OF
DSCNTD OPER,NET OF TX 0 0
NET INCOME (LOSS) 7,368,197 (32,339)
PROVIDENCE ENERGY CORPORATION & SUBSIDIARIES
Y-T-D ENDING SEPTEMBER 30, 1993
DESCRIPTION S&M PRU
OPERATING REVENUES 0 0
COST OF GAS SOLD 0 0
OPERATING MARGIN 0 0
OPERATING EXPENSES:
OTHER OPERATION 0 0
MAINTENANCE 0 0
DEPRECIATION & AMORT 0 0
STATE GROSS RECEIPTS 0 0
LOCAL PROPERTY 0 0
FEDERAL INCOME 0 0
0 0
OPERATING INCOME 0 0
NONUTLTY OPER &OTHR:
REVENUES 0 0
OPERATING COSTS (5) 0
OTHER INCOME(EXP) 0 44,758
5 44,758
INCM FRM CONT OPER
BEFORE INT EXPNSE 5 44,758
INTEREST EXPENSE:
LONG TERM DEBT 2,209 0
OTHER 0 0
INTERCO INT (INC/EXP) (903) (4,799)
1,306 (4,799)
INCM AFTR INT EXPNSE (1,301) 49,557
PREFRD DVIDNDS SUBS 0 0
INCM FRM CONT OPER (1,301) 49,557
LOSS FROM DISCONTD
OPERATIONS,NET OF TAX 0 0
LOSS FRM DISPOSAL OF
DSCNTD OPER,NET OF TX 0 0
NET INCOME (LOSS) (1,301) 49,557
PROVIDENCE ENERGY CORPORATION & SUBSIDIARIES
Y-T-D ENDING SEPTEMBER 30, 1993
DESCRIPTION PAT TOTAL
OPERATING REVENUES 0 209,088,229
COST OF GAS SOLD 0 126,314,060
OPERATING MARGIN 0 82,774,169
OPERATING EXPENSES:
OTHER OPERATION 0 40,436,376
MAINTENANCE 0 3,600,680
DEPRECIATION & AMORT 0 9,072,777
STATE GROSS RECEIPTS 0 5,751,781
LOCAL PROPERTY 0 6,845,400
FEDERAL INCOME 0 3,554,031
0 69,261,045
OPERATING INCOME 0 13,513,124
NONUTLTY OPER &OTHR:
REVENUES 0 0
OPERATING COSTS 0 (5)
OTHER INCOME(EXP) (29,995) 7,800,906
(29,995) 7,800,901
INCM FRM CONT OPER
BEFORE INT EXPNSE (29,995) 21,314,025
INTEREST EXPENSE:
LONG TERM DEBT 0 5,172,186
OTHER 0 1,480,651
INTERCO INT (INC/EXP) (246) (1)
(246) 6,652,836
INCM AFTR INT EXPNSE (29,749) 14,661,189
PREFRD DVIDNDS SUBS 0 696,000
INCM FRM CONT OPER (29,749) 13,965,189
LOSS FROM DISCONTD
OPERATIONS,NET OF TAX 0 0
LOSS FRM DISPOSAL OF
DSCNTD OPER,NET OF TX 0 0
NET INCOME (LOSS) (29,749) 13,965,189
PROVIDENCE ENERGY CORPORATION & SUBSIDIARIES
Y-T-D ENDING SEPTEMBER 30, 1993
DESCRIPTION ELIM ADJ
OPERATING REVENUES 0 0
COST OF GAS SOLD 0 0
OPERATING MARGIN 0 0
OPERATING EXPENSES:
OTHER OPERATION 0 0
MAINTENANCE 0 0
DEPRECIATION & AMORT 0 0
STATE GROSS RECEIPTS 0 0
LOCAL PROPERTY 0 0
FEDERAL INCOME 0 0
0 0
OPERATING INCOME 0 0
NONUTLTY OPER &OTHR:
REVENUES 0 0
OPERATING COSTS 0 0
OTHER INCOME(EXP) (7,348,104) 0
(7,348,104) 0
INCM FRM CONT OPER
BEFORE INT EXPNSE (7,348,104) 0
INTEREST EXPENSE:
LONG TERM DEBT 0 0
OTHER 0 0
INTERCO INT (INC/EXP) 0 0
0 0
INCM AFTR INT EXPNSE (7,348,104) 0
PREFRD DVIDNDS SUBS 0 0
INCM FRM CONT OPER (7,348,104) 0
LOSS FROM DISCONTD
OPERATIONS,NET OF TAX 0 0
LOSS FRM DISPOSAL OF
DSCNTD OPER,NET OF TX 0 0
NET INCOME (LOSS) (7,348,104) 0
PROVIDENCE ENERGY CORPORATION & SUBSIDIARIES
Y-T-D ENDING SEPTEMBER 30, 1993
FASB #94
DESCRIPTION TOTAL
OPERATING REVENUES 209,088,229
COST OF GAS SOLD 126,314,060
OPERATING MARGIN 82,774,169
OPERATING EXPENSES:
OTHER OPERATION 40,436,376
MAINTENANCE 3,600,680
DEPRECIATION & AMORT 9,072,777
STATE GROSS RECEIPTS 5,751,781
LOCAL PROPERTY 6,845,400
FEDERAL INCOME 3,554,031
69,261,045
OPERATING INCOME 13,513,124
NONUTLTY OPER &OTHR:
REVENUES 0
OPERATING COSTS (5)
OTHER INCOME(EXP) 452,802
452,797
INCM FRM CONT OPER
BEFORE INT EXPNSE 13,965,921
INTEREST EXPENSE:
LONG TERM DEBT 5,172,186
OTHER 1,480,651
INTERCO INT (INC/EXP) (1)
6,652,836
INCM AFTR INT EXPNSE 7,313,085
PREFRD DVIDNDS SUBS 696,000
INCM FRM CONT OPER 6,617,085
LOSS FROM DISCONTD
OPERATIONS,NET OF TAX 0
LOSS FRM DISPOSAL OF
DSCNTD OPER,NET OF TX 0
NET INCOME (LOSS) 6,617,085
