|
|
|
|
|
|
|
|
|
|
Previous: ALLEGHENY ENERGY INC, 35-CERT, 1999-03-01 |
Next: ENTERPRISE GROUP OF FUNDS INC, N-30D, 1999-03-01 |
___________________________________
:
IN THE MATTER OF :
:
AYP CAPITAL, INC. :
: CERTIFICATE
File No. 70-8951 : PURSUANT TO RULE 24
: FOR THE QUARTER ENDED
(Public Utility Holding : DECEMBER 31, 1998
Company Act of 1935) :
__________________________________ :
During the fourth quarter of 1998, AYP Capital, Inc. no
longer performed any activities in connection with the sale and
marketing of the Insider heat pump.
Because AYP Capital has ceased performing activities in
connection with this file, this will be its final Rule 24
Certificate until such time as it again performs activities.
Attached are consolidated financial statements for the
quarter ended December 31, 1998.
AYP CAPITAL, INC.
By Carol G. Russ
Counsel
AYP Capital, Inc.
Dated: March 1, 1999
<PAGE>
AYP CAPITAL
CONSOLIDATED STATEMENT OF INCOME
<TABLE>
<CAPTION>
Quarter Ended Year-to-Date Ended Twelve Months Ended
December 31, 1998 December 31, 1998 December 31, 1998
<S> <C> <C> <C>
ELECTRIC OPERATING REVENUES 27,893,458 246,983,410 246,983,410
OPERATING EXPENSES:
Operation:
Fuel 5,980,311 21,136,727 21,136,727
Purchased Power & Exchange 15,143,708 210,558,867 210,558,867
Other 1,508,893 6,826,387 6,826,387
Transmission & Distribution 416,097 2,373,764 2,373,764
Cust. Accts & Services 590,661 2,814,919 2,814,919
Administrative & General 3,099,089 11,409,460 11,409,460
Total Operation & Maintenance 26,738,759 255,120,124 255,120,124
Depreciation 1,532,532 5,770,210 5,770,210
Taxes other than income taxes 1,651,918 6,881,568 6,881,568
Federal and state income taxes (1,612,474) (10,533,229) (10,533,229)
Total Operating Expenses 28,310,735 257,238,673 257,238,673
Operating Income (417,277) (10,255,263) (10,255,263)
OTHER INCOME AND DEDUCTIONS:
Other income (loss), net 25,678 99,240 99,240
Total Other Income and Deductions 25,678 99,240 99,240
Income Before Interest Charges and
Preferred Dividends (391,599) (10,156,023) (10,156,023)
INTEREST CHARGES AND PREFERRED DIVIDENDS:
Interest on other long-term obligations 2,526,933 10,105,333 10,105,333
Other interest 11,487 53,190 53,190
Total Interest Charges and
Preferred Dividends 2,538,420 10,158,524 10,158,524
Consolidated Net Income (Loss) (2,930,019) (20,314,546) (20,314,546)
Unaudited
</TABLE>
<PAGE>
AYP Capital, Inc.
CONSOLIDATED BALANCE SHEET
As of December 31, 1998
Assets
Property, plant, and equipment:
At original cost 170,797,904
Accumulated depreciation (11,321,961)
159,475,944
Investments and other assets 9,360,538
Current assets:
Cash and temporary cash investments 9,108,046
Accounts receivable:
Electric service 12,309,022
Other 2,397,551
Allowance for Uncollectible Accounts (81,748)
Affiliates 357,452
Materials and supplies--at average cost:
Operating and construction 2,316,277
Fuel 2,560,368
Other 3,221,829
32,188,796
Deferred charges 12,392,456
Total Assets 213,417,734
Capitalization and Liabilities
Capitalization:
Common stock 1,000
Other paid-in capital 53,672,747
Retained earnings (35,181,403)
18,492,344
Long-term debt of subsidiaries 160,000,000
178,492,344
Current liabilities:
Accounts payable 15,009,363
Accounts payable - Affiliates 2,502,490
Taxes accrued:
Federal and state income 6,866,031
Other 3,097,902
Interest accrued 1,675,467
Other 822,730
29,973,982
Deferred credits and other liabilities:
Deferred income taxes 4,150,289
Other 2,287,649
6,437,938
Total Capitalization and Liabilities 214,904,264
Unaudited
|
|