<PAGE> Exhibit C
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<CAPTION>
NEES Energy, Inc.
Consolidated Statement of Cash Flows
(Thousands of Dollars)
For the Periods Ended September 30, 2000
(Unaudited, Subject to Adjustment)
Six
QuarterMonths
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<S> <C> <C>
Operating activities:
Net income (loss) $ (179) $ (356)
Adjustments to reconcile net income (loss) to
net cash provided by (used in) operating activities:
Depreciation and amortization 160 320
(Increase) decrease in accounts receivable and
unbilled revenue 59 2
(Increase) decrease in asset held for
sale-ALLEnergy 22,748 53,748
(Increase) decrease in other current assets (558) 138
Increase (decrease) in accounts payable 5 (42)
Other, net (14,202) (14,202)
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Net cash provided by (used in) operating activities $ 8,033 $ 39,608
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Financing activities:
Change in subordinated notes payable to parent $(7,950) $(39,525)
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Net cash provided by (used in) financing activities $(7,950)
$(39,525)
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Net increase (decrease) in cash and cash equivalents $ 83 $ 83
Cash and cash equivalents at beginning of period 29 29
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Cash and cash equivalents at end of period $ 112 $ 112
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