<PAGE> Exhibit C1
NEES ENERGY, INC.
Statement of Cash Flows
(Thousands of Dollars)
For the Twelve Months Ended September 30, 2000
(Unaudited, Subject to Adjustment)
Operating activities:
Net income (loss) $ (1,256)
Adjustments to reconcile net income (loss) to
net cash provided by (used in) operating activities:
Depreciation and amortization 6,160
(Increase) decrease in deferred taxes 5
(Increase) decrease in accounts receivable and
unbilled revenue (45,667)
(Increase) decrease in inventory 4,840
(Increase) decrease in asset held for sale-AllEnergy 53,748
(Increase) decrease in prepaid and other
current assets 381
Increase (decrease) in accounts payable 7,192
Increase (decrease) in other current liabilities (11,704)
Other, net (12,840)
---------
Net cash provided by (used in) operating activities $ 859
---------
Investing activities:
Fixed asset expenditures $ (2,905)
---------
Net cash used in investing activities $ (2,905)
---------
Financing Activities:
Change in subordinated notes payable to parent $ 4,050
Change in other paid in capital (150)
Increase (decrease) in long-term debt (81)
---------
Net cash provided by financing activities $ 3,819
---------
Net increase (decrease) in cash and cash equivalents $ 1,773
Cash and cash equivalents at beginning of period 3,838
Cash included with asset held for sale (5,499)
---------
Cash and cash equivalents at end of period $ 112
=========
