ALLEGHENY VENTURES, INC.
CONSOLIDATED STATEMENT OF INCOME
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Quarter Ended Year-to-Date Ended Twelve Months Ended
March 31, 2000 March 31, 2000 March 31, 2000
ELECTRIC OPERATING REVENUES:
<S> <C> <C> <C>
Bulk Power Transactions, Net 0 0 25,864,283
Wholesale and Other, Excluding Affiliates 3,174,503 3,174,503 8,828,568
Affiliates 22,192 22,192 47,186,931
Total Operating Revenues 3,196,695 3,196,695 81,879,782
OPERATING EXPENSES:
Operation:
Fuel 0 0 14,977,161
Purchased Power & Exchange 0 0 31,911,393
Other 0 0 3,223,172
Transmission & Distribution (123) (123) 199,155
Cust. Accts & Services 18,113 18,113 2,229,785
Administrative & General 2,679,311 2,679,311 9,381,045
Total Operation & Maintenance 2,697,301 2,697,301 61,921,711
Depreciation 264,987 264,987 4,707,314
Taxes other than income taxes 84,004 84,004 3,716,165
Federal and state income taxes 50,075 50,075 1,931,468
Total Operating Expenses 3,096,367 3,096,367 72,276,658
Operating Income 100,328 100,328 9,603,124
OTHER INCOME AND DEDUCTIONS:
Other income (loss), net (139,770) (139,770) (1,776,896)
Total Other Income and Deductions (139,770) (139,770) (1,776,896)
Income Before Interest Charges and
Preferred Dividends (39,442) (39,442) 7,826,228
INTEREST CHARGES:
Interest on other long-term obligations 0 0 5,868,632
Other interest 0 0 20,737
Total Interest Charges
0 0 5,889,369
Consolidated Net Income (Loss) (39,442) (39,442) 1,936,859
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05/24/00