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<PAGE>
File No. 70-9147
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
AMENDMENT NO. 1
TO
APPLICATION OR DECLARATION
ON FORM U-1
UNDER
THE PUBLIC UTILITY HOLDING COMPANY ACT OF 1935
Allegheny Energy, Inc.
10435 Downsville Pike
Hagerstown, MD 21740
(Name of company or companies filing this statement and
addresses of principal executive offices)
Allegheny Energy, Inc.
(Name of top registered holding company parent of each
applicant or declarant)
Thomas K. Henderson, Esq.
Vice President
Allegheny Energy, Inc.
10435 Downsville Pike
Hagerstown, MD 21740
(Name and address of agent for service)
<PAGE>
1. Applicants hereby amend Item No. 6, Exhibits and
Financial Statements, of their Application or Declaration by
filing the following:
(a) Exhibits
G-1(a) Financial Data Schedule
AYE Consolidated - Actual
G-1(b) Financial Data Schedule
AYE and DQE Combined - Pro Forma
(b) Financial Statements
FS-2 Allegheny Energy, Inc.
Unaudited Pro Forma Combined
Balance Sheet at September 30, 1997
FS-4 Allegheny Energy, Inc.
Unaudited Pro Forma Combined
Statement of Income for the twelve-
month period ended September 30,
1997
FS-5 Allegheny Energy, Inc.
Unaudited Pro Forma Combined
Statement of Retained Earnings for
the twelve-month period ended
September 30, 1997
FS-7 DQE, Inc. Consolidated
Statement of Income as of September
30, 1997 (incorporated by reference
to the Quarterly Report on Form 10-
Q of DQE, Inc. for the period ended
September 30, 1997 (File No. 1-
10290))
1
<PAGE>
SIGNATURE
Pursuant to the requirements of the Public Utility
Holding Company Act of 1935, the undersigned company has
duly caused this statement to be signed on its behalf by the
undersigned thereunto duly authorized.
ALLEGHENY ENERGY, INC.
By: /s/ Carol G. Russ
Counsel
Dated: December 4, 1997
<TABLE> <S> <C>
<ARTICLE> OPUR1
<MULTIPLIER> 1,000
<CURRENCY> U.S. DOLLARS
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-START> OCT-1-1996
<PERIOD-END> SEP-30-1997
<EXCHANGE-RATE> 1
<BOOK-VALUE> PER-BOOK
<TOTAL-NET-UTILITY-PLANT> 5,235,269
<OTHER-PROPERTY-AND-INVEST> 88,786
<TOTAL-CURRENT-ASSETS> 551,761
<TOTAL-DEFERRED-CHARGES> 660,286
<OTHER-ASSETS> 0
<TOTAL-ASSETS> 6,536,102
<COMMON> 153,045
<CAPITAL-SURPLUS-PAID-IN> 1,044,085
<RETAINED-EARNINGS> 1,035,202
<TOTAL-COMMON-STOCKHOLDERS-EQ> 2,232,332
0
170,086
<LONG-TERM-DEBT-NET> 2,205,804
<SHORT-TERM-NOTES> 0
<LONG-TERM-NOTES-PAYABLE> 0
<COMMERCIAL-PAPER-OBLIGATIONS> 111,040
<LONG-TERM-DEBT-CURRENT-PORT> 182,400
0
<CAPITAL-LEASE-OBLIGATIONS> 2,952
<LEASES-CURRENT> 2,031
<OTHER-ITEMS-CAPITAL-AND-LIAB> 1,629,457
<TOT-CAPITALIZATION-AND-LIAB> 6,536,102
<GROSS-OPERATING-REVENUE> 2,328,674
<INCOME-TAX-EXPENSE> 153,172
<OTHER-OPERATING-EXPENSES> 1,760,571
<TOTAL-OPERATING-EXPENSES> 1,913,743
<OPERATING-INCOME-LOSS> 414,931
<OTHER-INCOME-NET> 30,828
<INCOME-BEFORE-INTEREST-EXPEN> 445,759
<TOTAL-INTEREST-EXPENSE> 183,788
<NET-INCOME> 261,971
9,273
<EARNINGS-AVAILABLE-FOR-COMM> 252,698
<COMMON-STOCK-DIVIDENDS> 209,819
<TOTAL-INTEREST-ON-BONDS> 111,173
<CASH-FLOW-OPERATIONS> 0<F1>
<EPS-PRIMARY> 2.07
<EPS-DILUTED> 2.07
<FN>
<F1>*Not calculated for Form U-1 purposes.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> OPUR1
<MULTIPLIER> 1,000
<CURRENCY> U.S. DOLLARS
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-START> OCT-1-1996
<PERIOD-END> SEP-30-1997
<EXCHANGE-RATE> 1
<BOOK-VALUE> PRO-FORMA
<TOTAL-NET-UTILITY-PLANT> 7,960,995
<OTHER-PROPERTY-AND-INVEST> 815,020
<TOTAL-CURRENT-ASSETS> 1,204,944
<TOTAL-DEFERRED-CHARGES> 1,306,823
<OTHER-ASSETS> 0
<TOTAL-ASSETS> 11,287,782
<COMMON> 153,045
<CAPITAL-SURPLUS-PAID-IN> 2,047,236
<RETAINED-EARNINGS> 1,484,405<F1>
<TOTAL-COMMON-STOCKHOLDERS-EQ> 3,684,686
0
394,982
<LONG-TERM-DEBT-NET> 3,563,793
<SHORT-TERM-NOTES> 10,000
<LONG-TERM-NOTES-PAYABLE> 0
<COMMERCIAL-PAPER-OBLIGATIONS> 111,040
<LONG-TERM-DEBT-CURRENT-PORT> 323,838
0
<CAPITAL-LEASE-OBLIGATIONS> 33,448
<LEASES-CURRENT> 23,179
<OTHER-ITEMS-CAPITAL-AND-LIAB> 3,142,816
<TOT-CAPITALIZATION-AND-LIAB> 11,287,782
<GROSS-OPERATING-REVENUE> 3,512,674
<INCOME-TAX-EXPENSE> 247,252
<OTHER-OPERATING-EXPENSES> 2,658,003
<TOTAL-OPERATING-EXPENSES> 2,905,255
<OPERATING-INCOME-LOSS> 607,419
<OTHER-INCOME-NET> 140,780
<INCOME-BEFORE-INTEREST-EXPEN> 748,199
<TOTAL-INTEREST-EXPENSE> 283,052
<NET-INCOME> 465,147
26,015
<EARNINGS-AVAILABLE-FOR-COMM> 439,132
<COMMON-STOCK-DIVIDENDS> 315,079
<TOTAL-INTEREST-ON-BONDS> 198,991
<CASH-FLOW-OPERATIONS> 0<F2>
<EPS-PRIMARY> 2.10
<EPS-DILUTED> 2.10
<FN>
<F1>*Includes a deduction for treasury stock of $372,027
<F2>**Not calculated for Form U-1 purposes.
</FN>
</TABLE>
<PAGE>
Exhibit FS-2
AYE and DQE
UNAUDITED PRO FORMA COMBINED BALANCE SHEET
At September 30, 1997
(in thousands of $)
<TABLE>
<CAPTION>
AYE DQE Total
Reclassified Reclassified Pro Forma Adjusted
Balance Balance Adjustments* Balance
ASSETS
Current Assets:
<S> <C> <C> <C> <C>
Cash and temporary cash investments 42,219 398,312 440,531
Receivables:
Electric customer accounts
receivable, net 252,299 75,254 41,797 (1) 369,350
Other receivables 9,896 37,858 47,754
Total Receivables - Net 262,195 113,112 41,797 417,104
Materials and supplies (at average cost):
Coal/Fuel 71,040 21,840 92,880
Operating and construction 83,284 54,299 137,583
Total Materials and Supplies 154,324 76,139 - 230,463
Prepaid taxes 57,885 5,021 62,906
Deferred income taxes 6,486 - 6,486
Other current assets 28,652 18,802 47,454
Total Current Assets 551,761 611,386 41,797 1,204,944
Long-Term Investments:
Benefit plans' investments 65,752 1,332 - 67,084
Affordable housing - 139,268 - 139,268
Leveraged leases - 337,304 - 337,304
Other leases - 73,717 - 73,717
Gas reserves - 75,775 - 75,775
Nuclear Decommissioning Trust - 43,589 - 43,589
Marketable securties - 34,646 - 34,646
Other investments 23,034 20,603 - 43,637
Total Long-Term Investments 88,786 726,234 - 815,020
Property, Plant and Equipment:
At original cost property, plant and equipment 8,349,440 4,769,364 - 13,118,804
Less: Accumulated depreciation and
amortization (3,114,171) (2,043,638) - (5,157,809)
Total Property, Plant and Equipment - Net 5,235,269 2,725,726 - 7,960,995
Other Non-Current Assets:
Regulatory assets 547,773 514,566 (1,484) (2) 1,060,855
Unamortized loss on reacquired debt 50,513 81,374 - 131,887
Other 62,000 52,081 - 114,081
Total Other Non-Current Assets 660,286 648,021 (1,484) 1,306,823
Total Assets 6,536,102 4,711,367 40,313 11,287,782
</TABLE>
<PAGE>
EXHBIT FS-2, cont'd.
AYE and DQE
UNAUDITED PRO FORMA COMBINED BALANCE SHEET
At September 30, 1997
(in thousands of $)
<TABLE>
<CAPTION>
AYE DQE Total
Reclassified Reclassified Pro Forma Adjusted
Balance Balance Adjustments* Balance
LIABILITIES AND CAPITALIZATION
Current Liabilities:
<S> <C> <C> <C> <C> <C>
Current maturities and sinking fund
requirements 182,400 141,438 - 323,838
Short-term debt 111,040 10,000 - 121,040
Accounts payable 122,160 63,373 - 185,533
Accrued liabilities 59,929 37,772 20,309 (2) 183,825
65,815 (3)
Dividends declared 2,335 28,963 - 31,298
Taxes accrued:
Federal and state income tax 2,028 (32,794) - (30,766)
Other 53,141 23,404 - 76,545
Interest accured 43,092 27,452 - 70,544
Deferred power costs 3,587 - - 3,587
Restructuring liability 8,622 - - 8,622
Other 8,334 7,130 - 15,464
Total Current Liabilities 596,668 306,738 86,124 989,530
Non-Current Liabilities:
Deferred income taxes - net 1,010,623 772,618 17,346 (1) 1,765,349
(9,044)(2)
(26,194)(3)
Deferred investment tax credits 135,367 99,887 - 235,254
Capital lease obligations 2,952 30,496 - 33,448
Regulatory liabilities 107,565 - - 107,565
Deferred income - 167,451 - 167,451
Other 74,705 271,019 - 345,724
Total Non-Current Liabilities 1,331,212 1,341,471 (17,892) 2,654,791
Commitments and Contingencies - -
Capitalization:
Long-term Debt and QUIDS 2,205,804 1,357,989 - 3,563,793
Preferred and Preference Stock of
Subsidiaries:
Preferred and Preference Stock 170,086 242,116 - 412,202
Deferred ESOP benefit - (17,220) - (17,220)
Total Preferred and Preference Stock
of Subsidiaries 170,086 224,896 - 394,982
Common Stockholders' Equity:
Common stock 153,045 - - 153,045
Other paid-in capital 1,044,085 1,003,151 - 2,047,236
Retained earnings 1,035,202 849,149 24,451 (1) 1,856,432
(12,749)(2)
(39,621)(3)
Treasury stock (at cost) - (372,027) - (372,027)
Total Common Stockholders' Equity 2,232,332 1,480,273 (27,919) 3,684,686
Total Capitalization 4,608,222 3,063,158 (27,919) 7,643,461
Total Liabilities and Capitalization 6,536,102 4,711,367 40,313 11,287,782
</TABLE>
*Adjustments:
1. Represents the effect of recording unbilled revenue by DQE. AYE changed
its method of accounting for unbilled revenue in 1994.
2. Represents the effect of accruing for nuclear refueling outages by DQE
during the periods leading up to the outage.
3. Represents the effect of accruing for major turbine-generator inspection
outages by AYE during the periods leading up to the outage. AYE,
historically, has recorded such cost as incurred.
<PAGE>
Exhibit FS-4
AYE and DQE
UNAUDITED PRO FORMA COMBINED INCOME STATEMENT
For the twelve months ended September 30, 1997
(in thousands of $)
<TABLE>
<CAPTION>
AYE DQE
Reclassified Reclassified Pro Forma Adjusted
Balance Balance Adjustments* Total
Operating Revenues
<S> <C> <C> <C> <C>
Sales of Electricity:
Residential 890,463 396,998 (873)(1) 1,286,588
Commercial 488,704 478,730 (1,684)(1) 965,750
Industrial 744,817 190,682 (1,164)(1) 934,335
Wholesale and other 71,721 816 72,537
Bulk power transactions, net 78,015 33,883 111,898
Total Sales of Electricity 2,273,720 1,101,109 (3,721) 3,371,108
Other 54,954 86,612 - 141,566
Total Operating Revenues 2,328,674 1,187,721 (3,721) 3,512,674
Operating Expenses
Fuel and purchased power 740,573 223,139 - 963,712
Other operating 326,131 300,710 - 626,841
Maintenance 246,770 80,993 (1,334)(2) 326,545
116 (3)
Deferred power costs, net (10,740) (20,293) - (31,033)
Depreciation and amortization 271,232 231,528 - 502,760
Taxes other than income 186,605 82,573 - 269,178
Total Operating Expenses 1,760,571 898,650 (1,218) 2,658,003
Operating Income 568,103 289,071 (2,503) 854,671
Other income, net 30,828 109,952 - 140,780
Interest and other charges 193,061 116,006 - 309,067
Income before income taxes 405,870 283,017 (2,503) 686,384
Income taxes 153,172 92,028 1,544 (1) 247,252
554 (2)
(46)(3)
Net Income 252,698 190,989 (4,555) 439,132
</TABLE>
*Adjustments:
1. Represents the effect of recording unbilled revenue by DQE. AYE changed
its method of accounting for unbilled revenue in 1994.
2. Represents the effect of accruing for nuclear refueling outages by DQE
during the periods leading up to the outage.
3. Represents the effect of accruing for major turbine-generator inspection
outages by AYE during the periods leading up to the outage. AYE,
historically, has recorded such cost as incurred.
<PAGE>
Exhibit FS-5
AYE and DQE
UNAUDITED PRO FORMA COMBINED STATEMENT OF RETAINED EARNINGS
FOR TWELVE MONTHS ENDED SEPTEMBER 30, 1997
(in thousands of $)
<TABLE>
<CAPTION>
Total
Pro Forma Adjusted
AYE DQE Adjustments* Balance
<S> <C> <C> <C> <C>
Balance at October 1, 1996 992,323 763,420 1,755,743
Add:
Consolidated net income 252,698 190,989 (4,555) 439,132
Deduct:
Dividends on common stock 209,819 105,260 315,079
Cumulative adjustment 23,364 23,364
Balance at September 30, 1997 1,035,202 849,149 (27,919) 1,856,432
</TABLE>
* See Pro Forma Adjustments on the Unaudited Pro Forma Combined
Balance Sheet
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