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<PAGE>
File No. 70-6179
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
POST-EFFECTIVE AMENDMENT NO. 5
TO
APPLICATION OR DECLARATION
UNDER
THE PUBLIC UTILITY HOLDING COMPANY ACT OF 1935
Monongahela Power Company
1310 Fairmont Avenue
Fairmont, WV 26554
The Potomac Edison Company
10435 Downsville Pike
Hagerstown, MD 21740-1766
West Penn Power Company
800 Cabin Hill Drive
Greensburg, PA 15601
(Name of company or companies filing this statement and addresses
of principal executive offices)
Allegheny Power System, Inc.
(Name of top registered holding company parent of each applicant
or declarant)
Nancy H. Gormley, Esq.
Allegheny Power System, Inc.
12 East 49th Street
New York, NY 10017
(Name and address of agent for service)
<PAGE>
The undersigned Applicants hereby amend their
Application or Declaration as previously amended as follows:
1. The Applicants hereby amend Item 6. Exhibits and Financial
Statements, by filing the following:
(b) Financial Statements as of December 31, 1993
1-A(i) Balance sheets of Monongahela per
books and pro forma.
2-A(i) Balance sheets of Potomac Edison per
books and pro forma.
3-A(i) Balance sheets of West Penn per
books and pro forma.
4-A(i) APS and subsidiaries consolidated
balance sheet, per books and pro
forma.
1-B(i) Statements of income and retained
earnings of Monongahela per books
and pro forma.
2-B(i) Statements of income and retained
earnings of Potomac Edison per books
and pro forma.
3-B(i) Statements of income and retained
earnings of West Penn per books and
pro forma.
4-B(i) APS and subsidiaries consolidated
statements of income and retained
earnings, per books and pro forma.
<PAGE>
SIGNATURE
Pursuant to the requirements of the Public Utility Holding
Company Act of 1935, the undersigned companies have duly caused
this statement to be signed on their behalf by the undersigned
thereunto duly authorized.
MONONGAHELA POWER COMPANY
By NANCY H. GORMLEY
Nancy H. Gormley
Counsel
THE POTOMAC EDISON COMPANY
By NANCY H. GORMLEY
Nancy H. Gormley
Counsel
WEST PENN POWER COMPANY
By NANCY H. GORMLEY
Nancy H. Gormley
Counsel
Dated: March 2, 1994
<PAGE>
CONTENTS
Statement
No.
Balance sheets at December 31, 1993, and pro forma giving
effect as at that date to the adjustments set forth herein:
Monongahela Power Company 1-A(i)
The Potomac Edison Company 2-A(i)
West Penn Power Company and Subsidiaries 3-A(i)
Allegheny Power System, Inc. and Subsidiaries 4-A(i)
Statements of income and retained earnings for twelve months
ended December 31, 1993, and pro forma giving effect
as at beginning of period to the adjustments set forth herein:
Monongahela Power Company 1-B(i)
The Potomac Edison Company 2-B(i)
West Penn Power Company and Subsidiaries 3-B(i)
Allegheny Power System, Inc. and Subsidiaries 4-B(i)
These financial statements have been prepared for Form U-1
purposes and are unaudited.
Reference is made to the Notes to Financial Statements in the
Allegheny Power System companies combined Annual Report on
Form 10-K for the year ended December 31, 1992, and to the
Form 10-Q's for the quarters ended March 31, 1993, June 30, 1993,
and September 30, 1993.
The income statements do not reflect any additional income from
investments which may be made with the proceeds from the
transactions set forth in this application-declaration.
<PAGE>
Statement 1-A(i)
MONONGAHELA POWER COMPANY
BALANCE SHEET - DECEMBER 31, 1993 PER BOOKS
AND PRO FORMA GIVING EFFECT AS AT THAT DATE
TO THE ADJUSTMENTS SET FORTH HEREIN
<TABLE>
<CAPTION>
(Thousands)
Per Books Adjustments* Pro Forma
Assets
Property, plant, and equipment:
<S> <C> <C>
At original cost 1,684,322 1,684,322
Accumulated depreciation (664,947) (664,947)
</TABLE>
<TABLE>
Investments and other assets:
Allegheny Generating Company -
<S> <C> <C>
common stock at equity 61,698 61,698
Other 595 595
</TABLE>
<TABLE>
Current assets:
<S> <C> <C> <C>
Cash 135 (24,385) (1)
24,250 (2)
</TABLE>
<TABLE>
Accounts receivable:
<S> <C> <C>
Electric service 50,079 50,079
Affiliated and other 14,596 14,596
Allowance for uncollectible accounts (1,084) (1,084)
Materials and supplies--at average cost:
Operating and construction 22,393 22,393
Fuel 19,904 19,904
Prepaid taxes 19,788 19,788
Deferred power costs 10,823 10,823
Other 3,772 3,772
</TABLE>
<TABLE>
Deferred charges:
<S> <C> <C> <C>
Regulatory assets 162,842 162,842
Unamortized loss on reacquired debt 12,229 125 (1) 12,354
Other 10,308 750 (2) 11,058
</TABLE>
<TABLE>
<S> <C> <C> <C>
Total Assets 1,407,453 740 1,408,193
</TABLE>
*Adjustments:
(1) Proposed retirement by the Company of $25,000,000 principal amount of
existing Pollution Control Revenue Bonds, plus optional redemption
premium.
(2) Proposed sale by the Company of $25,000,000 principal amount of New
Pollution Control Revenue Bonds, less estimated issuance expenses.
<PAGE>
Statement 1-A(i)
(continued)
MONONGAHELA POWER COMPANY
BALANCE SHEET - DECEMBER 31, 1993 PER BOOKS
AND PRO FORMA GIVING EFFECT AS AT THAT DATE
TO THE ADJUSTMENTS SET FORTH HEREIN
<TABLE>
<CAPTION>
(Thousands)
Per Books Adjustments* Pro Forma
Capitalization and Liabilities
Capitalization:
Common stock:
Common stock - par value $50 per share,
authorized 8,000,000 shares, outstanding
5,891,000 shares (no change
<S> <C> <C>
since 1-1-93) 294,550 294,550
Other paid-in capital (no change
since 1-1-93) 2,994 2,994
Retained earnings 185,486 185,486
</TABLE>
<TABLE>
Preferred stock:
Cumulative preferred stock - par value
$100 per share, authorized 1,500,000
shares, outstanding 640,000 shares:
<S> <C> <C>
Not subject to mandatory redemption 64,000 64,000
</TABLE>
<TABLE>
<S> <C> <C> <C> <C>
Long-term debt 460,129 (25,000) (1) 460,129
25,000 (2)
</TABLE>
<TABLE>
Current liabilities:
<S> <C> <C> <C> <C>
Short-term debt 63,100 740 (1) 63,840
Accounts payable 31,752 31,752
Accounts payable to affiliates 8,184 8,184
Taxes accrued - Other 21,261 21,261
Interest accrued 10,641 10,641
Other 18,994 18,994
</TABLE>
<TABLE>
Deferred credits and other liabilities:
<S> <C> <C>
Unamortized investment credit 26,883 26,883
Deferred income taxes 192,466 192,466
Regulatory liabilities 19,179 19,179
Other 7,834 7,834
</TABLE>
<TABLE>
<S> <C> <C> <C>
Total Capitalization and Liabilities 1,407,453 740 1,408,193
</TABLE>
<PAGE>
Statement 2-A(i)
THE POTOMAC EDISON COMPANY
BALANCE SHEET - DECEMBER 31, 1993 PER BOOKS
AND PRO FORMA GIVING EFFECT AS AT THAT DATE
TO THE ADJUSTMENTS SET FORTH HEREIN
<TABLE>
<CAPTION>
(Thousands)
Per Books Adjustments* Pro Forma
Assets
Property, plant, and equipment:
<S> <C> <C>
At original cost 1,857,961 1,857,961
Accumulated depreciation (632,269) (632,269)
</TABLE>
<TABLE>
Investments and other assets:
Allegheny Generating Company -
<S> <C> <C>
common stock at equity 63,983 63,983
Other 819 819
</TABLE>
<TABLE>
Current assets:
<S> <C> <C> <C> <C>
Cash 1,489 (21,105) (1) 754
20,370 (2)
Accounts receivable:
Electric service 45,782 45,782
Affiliated and other 6,383 6,383
Allowance for uncollectible accounts (1,207) (1,207)
Notes receivable from affiliates 4,600 4,600
Materials and supplies--at average cost:
Operating and construction 26,153 26,153
Fuel 18,596 18,596
Prepaid taxes 12,523 12,523
Other 4,000 4,000
</TABLE>
<TABLE>
Deferred charges:
<S> <C> <C> <C>
Regulatory assets 76,962 76,962
Unamortized loss on reacquired debt 9,188 105 (1) 9,293
Other 24,800 630 (2) 25,430
</TABLE>
<TABLE>
<S> <C> <C>
Total Assets 1,519,763 1,519,763
</TABLE>
*Adjustments:
(1) Proposed retirement by the Company of $21,000,000 principal amount of
existing Pollution Control Revenue Bonds, plus optional redemption
premium.
(2) Proposed sale by the Company of $21,000,000 principal amount of New
Pollution Control Revenue Bonds, less estimated issuance expenses.
<PAGE>
Statement 2-A(i)
(continued)
THE POTOMAC EDISON COMPANY
BALANCE SHEET - DECEMBER 31, 1993 PER BOOKS
AND PRO FORMA GIVING EFFECT AS AT THAT DATE
TO THE ADJUSTMENTS SET FORTH HEREIN
<TABLE>
<CAPTION>
(Thousands)
Per Books Adjustments* Pro Forma
Capitalization and Liabilities
Capitalization:
Common stock:
Common stock - no par value, authorized
23,000,000 shares, outstanding
22,385,000 shares (issued 2,500,000
<S> <C> <C>
shares since 1-1-93) 447,700 447,700
Other paid-in capital (no change
since 1-1-93) 2,714 2,714
Retained earnings 176,053 176,053
</TABLE>
<TABLE>
Preferred stock:
Cumulative preferred stock - par value
$100 per share, authorized 5,400,046
shares, outstanding 639,784 shares:
<S> <C> <C>
Not subject to mandatory redemption 36,378 36,378
Subject to mandatory redemption 26,400 26,400
</TABLE>
<TABLE>
<S> <C> <C> <C> <C>
Long-term debt 517,910 (21,000) (1) 517,910
21,000 (2)
</TABLE>
<TABLE>
Current liabilities:
Long-term debt and preferred stock
<S> <C> <C>
due within one year 17,200 17,200
Accounts payable 41,986 41,986
Accounts payable to affiliates 15,606 15,606
Taxes accrued:
Federal and state income 2,970 2,970
Other 13,552 13,552
Interest accrued 8,632 8,632
Other 22,445 22,445
</TABLE>
<TABLE>
Deferred credits and other liabilities:
<S> <C> <C>
Unamortized investment credit 30,308 30,308
Deferred income taxes 133,027 133,027
Regulatory liabilities 18,490 18,490
Other 8,392 8,392
</TABLE>
<TABLE>
<S> <C> <C>
Total Capitalization and Liabilities 1,519,763 1,519,763
</TABLE>
<PAGE>
Statement 3-A(i)
WEST PENN POWER COMPANY AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEET - DECEMBER 31, 1993 PER BOOKS
AND PRO FORMA GIVING EFFECT AS AT THAT DATE
TO THE ADJUSTMENTS SET FORTH HEREIN
<TABLE>
<CAPTION>
(Thousands)
Per Books Adjustments* Pro Forma
Assets
Property, plant, and equipment:
<S> <C> <C>
At original cost 2,803,811 2,803,811
Accumulated depreciation (962,623) (962,623)
</TABLE>
<TABLE>
Investments and other assets:
Allegheny Generating Company -
<S> <C> <C>
common stock at equity 102,830 102,830
Other 1,537 1,537
</TABLE>
<TABLE>
Current assets:
<S> <C> <C> <C>
Cash and temporary cash investments 565 (31,120) (1)
30,555 (2)
</TABLE>
<TABLE>
Accounts receivable:
<S> <C> <C>
Electric service 95,696 95,696
Affiliated and other 22,372 22,372
Allowance for uncollectible accounts (1,126) (1,126)
Notes receivable from affiliates 24,900 24,900
Materials and supplies--at average cost:
Operating and construction 36,030 36,030
Fuel 32,892 32,892
Prepaid and other 17,954 17,954
</TABLE>
<TABLE>
Deferred charges:
<S> <C> <C>
Regulatory assets 331,755 331,755
Unamortized loss on reacquired debt 11,645 158 (1) 11,803
Other 26,525 945 (2) 27,470
</TABLE>
<TABLE>
<S> <C> <C> <C>
Total Assets 2,544,763 538 2,545,301
</TABLE>
*Adjustments:
(1) Proposed retirement by the Company of $31,500,000 principal amount of
existing Pollution Control Revenue Bonds, plus optional redemption
premium.
(2) Proposed sale by the Company of $31,500,0000 principal amount of New
Pollution Control Revenue Bonds, less estimated issuance expenses.
<PAGE>
Statement 3-A(i)
(continued
WEST PENN POWER COMPANY AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEET - DECEMBER 31, 1993 PER BOOKS
AND PRO FORMA GIVING EFFECT AS AT THAT DATE
TO THE ADJUSTMENTS SET FORTH HEREIN
<TABLE>
<CAPTION>
(Thousands)
Per Books Adjustments* Pro Forma
Capitalization and Liabilities
Capitalization:
Common stock:
Common stock - no par value, authorized
28,902,923 shares, outstanding
22,361,586 shares (issued 5,000,000
<S> <C> <C>
shares since 1-1-93) 425,994 425,994
Other paid-in capital (decrease of
$145,000 since 1-1-93) 55,687 55,687
Retained earnings 412,288 412,288
</TABLE>
<TABLE>
Preferred stock:
Cumulative preferred stock - par value
$100 per share, authorized 3,097,077
shares, outstanding 1,497,077 shares:
<S> <C> <C>
Not subject to mandatory redemption 149,708 149,708
</TABLE>
<TABLE>
<S> <C> <C> <C> <C>
Long-term debt 782,369 (31,500) (1) 782,369
31,500 (2)
</TABLE>
<TABLE>
Current liabilities:
<S> <C> <C> <C> <C>
Short-term debt 538 (1) 538
Accounts payable 105,493 105,493
Accounts payable to affiliates 9,451 9,451
Taxes accrued:
Federal and state income 11,533 11,533
Other 22,823 22,823
Interest accrued 13,855 13,855
Other 20,954 20,954
</TABLE>
<TABLE>
Deferred credits and other liabilities:
<S> <C> <C>
Unamortized investment credit 55,524 55,524
Deferred income taxes 424,000 424,000
Regulatory liabilities 40,834 40,834
Other 14,250 14,250
</TABLE>
<TABLE>
<S> <C> <C> <C>
Total Capitalization and Liabilities 2,544,763 538 2,545,301
</TABLE>
<PAGE>
ALLEGHENY POWER SYSTEM, INC. AND SUBSIDIARIES Statement 4-A(i)
CONSOLIDATED BALANCE SHEET - DECEMBER 31, 1993
PER BOOKS AND PRO FORMA GIVING EFFECT AS AT
THAT DATE TO THE ADJUSTMENTS SET FORTH HEREIN
<TABLE>
<CAPTION>
(Thousands)
Per Books Adjustments* Pro Forma
Assets
Property, plant, and equipment:
<S> <C> <C>
At original cost 7,176,847 7,176,847
Accumulated depreciation (2,388,758) (2,388,758)
4,788,089 4,788,089
</TABLE>
<TABLE>
Investments and other assets:
Subsidiaries consolidated--excess of cost
<S> <C> <C>
over book equity at acquisition 15,077 15,077
Securities of associated company--at cost,
which approximates equity 1,250 1,250
Other 24,357 24,357
40,684 40,684
</TABLE>
<TABLE>
Current assets:
<S> <C> <C> <C> <C>
Cash and temporary cash investments 2,417 (76,610) (1) 982
Accounts receivable: 75,175 (2)
Electric service 191,557 191,557
Other 7,736 7,736
Allowance for uncollectible accounts (3,418) (3,418)
Materials and supplies--at average cost:
Operating and construction 86,766 86,766
Fuel 71,392 71,392
Prepaid taxes 43,139 43,139
Deferred power costs 14,054 14,054
Other 10,391 10,391
424,034 (1,435) 422,599
</TABLE>
<TABLE>
Deferred charges:
<S> <C> <C> <C> <C>
Regulatory assets 577,817 577,817
Unamortized loss on reacquired debt 44,435 388 (1) 44,823
Other 74,109 2,325 (2) 76,434
696,361 2,713 699,074
</TABLE>
<TABLE>
<S> <C> <C> <C>
Total Assets 5,949,168 1,278 5,950,446
</TABLE>
Capitalization and Liabilities
<TABLE>
Capitalization:
<S> <C> <C>
Common stock 147,079 147,079
Other paid-in capital 931,063 931,063
Retained earnings 877,673 877,673
1,955,815 1,955,815
</TABLE>
<TABLE>
Preferred stock:
<S> <C> <C> <C> <C>
Not subject to mandatory redemption 250,086 250,086
Subject to mandatory redemption 26,400 26,400
(77,500) (1)
Long-term debt of subsidiaries 2,008,104 77,500 (2) 2,008,104
4,240,405 0 4,240,405
</TABLE>
<TABLE>
Current liabilities:
<S> <C> <C> <C>
Short-term debt 130,636 1,278 131,914
Long-term debt and preferred stock
due within one year 27,200 27,200
Accounts payable 187,690 187,690
Taxes accrued:
Federal and state income 14,689 14,689
Other 57,758 57,758
Interest accrued 38,626 38,626
Other 73,467 73,467
530,066 1,278 531,344
</TABLE>
<TABLE>
Deferred credits and other liabilities:
<S> <C> <C>
Unamortized investment credit 166,328 166,328
Deferred income taxes 873,695 873,695
Regulatory liabilities 107,372 107,372
Other 31,302 31,302
1,178,697 1,178,697
</TABLE>
<TABLE>
<S> <C> <C> <C>
Total Capitalization and Liabilities 5,949,168 1,278 5,950,446
</TABLE>
*Adjustments:
(1) Proposed retirement by the subsidiaries of $77,500,000 principal amount
of existing Pollution Control Revenue Bonds, plus optional redemption
premium.
(2) Proposed sale by the subsidiaries of $77,500,000 principal amount of New
Pollution Control Revenue Bonds, less estimated issuance expenses.
<PAGE>
Statement 1-B(i)
MONONGAHELA POWER COMPANY
STATEMENT OF INCOME FOR YEAR ENDED DECEMBER 31, 1993
PER BOOKS AND PRO FORMA GIVING EFFECT AS AT BEGINNING OF PERIOD
TO THE ADJUSTMENTS SET FORTH HEREIN
<TABLE>
<CAPTION>
(Thousands)
Per Books Adjustments* Pro Forma
<S> <C> <C>
ELECTRIC OPERATING REVENUES 641,844 641,844
</TABLE>
<TABLE>
OPERATING EXPENSES:
Operation:
<S> <C> <C> <C>
Fuel 144,408 144,408
Purchased power and exchanges, net 155,602 155,602
Deferred power costs, net (2,489) (2,489)
Other 66,506 66,506
Maintenance 67,770 67,770
Depreciation 56,056 56,056
Taxes other than income taxes 34,076 34,076
Federal and state income taxes 33,612 176 33,788
Total Operating Expenses 555,541 176 555,717
Operating Income 86,303 (176) 86,127
</TABLE>
<TABLE>
OTHER INCOME AND DEDUCTIONS:
Allowance for other than borrowed funds
<S> <C> <C> <C>
used during construction 3,092 3,092
Other income, net 7,203 7,203
Total Other Income and Deductions 10,295 10,295
Income Before Interest Charges 96,598 (176) 96,422
</TABLE>
<TABLE>
INTEREST CHARGES:
<S> <C> <C> <C>
Interest on first mortgage bonds 29,427 29,427
Interest on other long-term obligations 6,128 (438) 5,690
Other interest 2,033 2,033
Allowance for borrowed funds used during
construction (2,688) (2,688)
Total Interest Charges 34,900 (438) 34,462
</TABLE>
<TABLE>
<S> <C> <C> <C>
Net Income 61,698 262 61,960
</TABLE>
<TABLE>
*Adjustments:
Retirement of $25,000,000 existing Pollution Control Revenue Bonds -
<S> <C>
interest rate of 7.75% 1,938
Sale of $25,000,000 New Pollution Control Revenue Bonds -
assumed rate of 6% 1,500
Decrease in interest on Pollution Control Revenue Bonds 438
Increase in federal and state income taxes 176
Increase in Net Income 262
</TABLE>
<PAGE>
Statement 1-B(i)
(continued)
MONONGAHELA POWER COMPANY
STATEMENT OF RETAINED EARNINGS
FOR YEAR ENDED DECEMBER 31, 1993
<TABLE>
<CAPTION>
(Thousands)
<S> <C>
Balance at January 1, 1993 178,084
</TABLE>
<TABLE>
Add:
<S> <C>
Net income 61,698
239,782
</TABLE>
<TABLE>
Deduct:
Dividends on capital stock:
<S> <C>
Preferred stock 4,458
Common stock 49,838
Total deductions 54,296
</TABLE>
<TABLE>
<S> <C>
Balance at December 31, 1993 185,486
</TABLE>
<PAGE>
Statement 2-B(i)
THE POTOMAC EDISON COMPANY
STATEMENT OF INCOME FOR YEAR ENDED DECEMBER 31, 1993
PER BOOKS AND PRO FORMA GIVING EFFECT AS AT BEGINNING OF PERIOD
TO THE ADJUSTMENTS SET FORTH HEREIN
<TABLE>
<CAPTION>
(Thousands)
Per Books Adjustments* Pro Form
<S> <C> <C>
ELECTRIC OPERATING REVENUES 712,585 712,585
</TABLE>
<TABLE>
OPERATING EXPENSES:
Operation:
<S> <C> <C> <C>
Fuel 143,587 143,587
Purchased power and exchanges, net 205,073 205,073
Deferred power costs, net (9,953) (9,953)
Other 74,438 74,438
Maintenance 64,376 64,376
Depreciation 56,449 56,449
Taxes other than income taxes 46,813 46,813
Federal and state income taxes 30,086 101 30,187
Total Operating Expenses 610,869 101 610,970
Operating Income 101,716 (101) 101,615
</TABLE>
<TABLE>
OTHER INCOME AND DEDUCTIONS:
Allowance for other than borrowed funds
<S> <C> <C> <C>
used during construction 4,329 4,329
Other income, net 8,419 8,419
Total Other Income and Deductions 12,748 12,748
Income Before Interest Charges 114,464 (101) 114,363
</TABLE>
<TABLE>
INTEREST CHARGES:
<S> <C> <C> <C>
Interest on first mortgage bonds 37,296 37,296
Interest on other long-term obligations 5,399 (273) 5,126
Other interest 1,107 1,107
Allowance for borrowed funds used during
construction (2,805) (2,805)
Total Interest Charges 40,997 (273) 40,724
</TABLE>
<TABLE>
<S> <C> <C> <C>
Net Income 73,467 172 73,639
</TABLE>
<TABLE>
*Adjustments:
Retirement of $21,000,000 existing Pollution Control Revenue Bonds -
<S> <C>
interest rate of 7.30% 1,533
Sale of $21,000,000 New Pollution Control Revenue Bonds -
assumed rate of 6% 1,260
Decrease in interest on Pollution Control Revenue Bonds 273
Increase in federal and state income taxes
Increase in Net Income 101
172
</TABLE>
<PAGE>
Statement 2-B(i)
(continued)
THE POTOMAC EDISON COMPANY
STATEMENT OF RETAINED EARNINGS
FOR YEAR ENDED DECEMBER 31, 1993
<TABLE>
<CAPTION>
(Thousands)
<S> <C>
Balance at January 1, 1993 167,412
</TABLE>
<TABLE>
Add:
<S> <C>
Net income 73,467
240,879
</TABLE>
<TABLE>
Deduct:
Dividends on capital stock:
<S> <C>
Preferred stock 4,434
Common stock 60,386
Charges on redemption of preferred stock 6
Total deductions 64,826
</TABLE>
<TABLE>
<S> <C>
Balance at December 31, 1993 176,053
</TABLE>
<PAGE>
Statement 3-B(i)
WEST PENN POWER COMPANY AND SUBSIDIARIES
CONSOLIDATED STATEMENT OF INCOME FOR YEAR ENDED DECEMBER 31, 1993
PER BOOKS AND PRO FORMA GIVING EFFECT AS AT BEGINNING OF PERIOD
TO THE ADJUSTMENTS SET FORTH HEREIN
<TABLE>
<CAPTION>
(Thousands)
Per Books Adjustments* Pro Forma
<S> <C> <C>
ELECTRIC OPERATING REVENUES 1,084,977 1,084,977
</TABLE>
<TABLE>
OPERATING EXPENSES:
Operation:
<S> <C> <C> <C>
Fuel 256,664 256,664
Purchased power and exchanges, net 235,772 235,772
Deferred power costs, net 979 979
Other 131,854 131,854
Maintenance 96,706 96,706
Depreciation 80,872 80,872
Taxes other than income taxes 89,249 89,249
Federal and state income taxes 51,529 130 51,659
Total Operating Expenses 943,625 130 943,755
Operating Income 141,352 (130) 141,222
</TABLE>
<TABLE>
OTHER INCOME AND DEDUCTIONS:
Allowance for other than borrowed funds
<S> <C> <C> <C>
used during construction 5,077 5,077
Other income, net 12,728 12,728
Total Other Income and Deductions 17,805 17,805
Income Before Interest Charges 159,157 (130) 159,027
</TABLE>
<TABLE>
INTEREST CHARGES:
<S> <C> <C> <C>
Interest on first mortgage bonds 45,603 45,603
Interest on other long-term obligations 13,254 (309) 12,945
Other interest 1,728 1,728
Allowance for borrowed funds used during
construction (3,489) (3,489)
Total Interest Charges 57,096 (309) 56,787
</TABLE>
<TABLE>
<S> <C> <C> <C>
Consolidated Net Income 102,061 179 102,240
</TABLE>
<TABLE>
*Adjustments:
Retirement of $11,500,000 existing Pollution Control Revenue Bonds -
<S> <C>
interest rate of 6.95% 799
Retirement of $20,000,000 existing Pollution Control Revenue Bonds -
interest rate of 7% 1,400
Sale of $31,500,000 New Pollution Control Revenue Bonds -
assumed rate of 6% 1,890
Decrease in interest on Pollution Control Revenue Bonds 309
Increase in federal and state income taxes 130
Increase in Consolidated Net Income 179
</TABLE>
<PAGE>
Statement 3-B(i)
(continued)
WEST PENN POWER COMPANY AND SUBSIDIARIES
CONSOLIDATED STATEMENT OF RETAINED EARNINGS
FOR YEAR ENDED DECEMBER 31, 1993
<TABLE>
<CAPTION>
(Thousands)
<S> <C>
Balance at January 1, 1993 400,515
</TABLE>
<TABLE>
Add:
<S> <C>
Consolidated net income 102,061
502,576
</TABLE>
<TABLE>
Deduct:
Dividends on capital stock:
<S> <C>
Preferred stock 8,206
Common stock 82,082
Total deductions 90,288
</TABLE>
<TABLE>
<S> <C>
Balance at December 31, 1993 412,288
</TABLE>
<PAGE>
Statement 4-B(i)
ALLEGHENY POWER SYSTEM, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENT OF INCOME FOR YEAR ENDED DECEMBER 31, 1993
PER BOOKS AND PRO FORMA GIVING EFFECT AS AT BEGINNING OF PERIOD
TO THE ADJUSTMENTS SET FORTH HEREIN
<TABLE>
<CAPTION>
(Thousands)
Per Books Adjustments* Pro Forma
<S> <C> <C>
ELECTRIC OPERATING REVENUES 2,331,526 2,331,526
</TABLE>
<TABLE>
OPERATING EXPENSES:
Operation:
<S> <C> <C> <C>
Fuel 544,659 544,659
Purchased power and exchanges, net 417,449 417,449
Deferred power costs, net (11,462) (11,462)
Other 257,732 257,732
Maintenance 231,163 231,163
Depreciation 210,428 210,428
Taxes other than income taxes 178,788 178,788
Federal and state income taxes 128,130 407 128,537
Total Operating Expenses 1,956,887 407 1,957,294
Operating Income 374,639 (407) 374,232
</TABLE>
<TABLE>
OTHER INCOME AND DEDUCTIONS:
Allowance for other than borrowed funds
<S> <C> <C> <C>
used during construction 12,499 12,499
Other income, net (6) (6)
Total Other Income and Deductions 12,493 12,493
Income Before Interest Charges and
Preferred Dividends 387,132 (407) 386,725
</TABLE>
<TABLE>
INTEREST CHARGES AND PREFERRED DIVIDENDS:
<S> <C> <C> <C>
Interest on first mortgage bonds 112,326 112,326
Interest on other long-term obligations 45,123 (1,020) 44,103
Other interest 5,812 5,812
Allowance for borrowed funds used during
construction (8,983) (8,983)
Dividends on preferred stock of subsidiaries 17,098 17,098
Total Interest Charges and
Preferred Dividends 171,376 (1,020) 170,356
</TABLE>
<TABLE>
<S> <C> <C> <C>
Consolidated Net Income 215,756 613 216,369
</TABLE>
<TABLE>
*Adjustments*
Retirement of $77,500,000 existing Pollution Control Revenue Bonds -
<S> <C>
interest rates of 6.95% to 7.75% 5,670
Sale of $77,500,000 New Pollution Control Revenue Bonds -
assumed rate of 6% 4,650
Decrease in interest on Pollution Control Revenue Bonds 1,020
Increase in federal and state income taxes 407
Increase in Consolidated Net Income 613
</TABLE>
<PAGE>
Statement 4-B(i)
(continued)
ALLEGHENY POWER SYSTEM, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENT OF RETAINED EARNINGS
FOR YEAR ENDED DECEMBER 31, 1993
<TABLE>
<CAPTION>
(Thousands)
<S> <C>
Balance at January 1, 1993 849,398
</TABLE>
<TABLE>
Add:
<S> <C>
Consolidated net income 215,756
1,065,154
</TABLE>
<TABLE>
Deduct:
Dividends on common stock of Allegheny
<S> <C> <C> <C>
Power System, Inc. (cash) 187,475
Charges on redemption of preferred stock 6
Total Deductions 187,481
</TABLE>
<TABLE>
<S> <C>
Balance at December 31, 1993 877,673
</TABLE>
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