<PAGE> Exhibit B
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<CAPTION>
NEES ENERGY, INC.
Consolidated Statement of Income and Accumulated Deficit
(Thousands of Dollars)
For the Periods Ended June 30, 2000
(Unaudited, Subject to Adjustment)
Twelve
QuarterMonths
--------------
INCOME
<S> <C> <C>
Revenue (1) $ 0 $447,114
----- --------
Total income 0 447,114
----- --------
EXPENSES
Operating expenses
Cost of sales 0 404,041
Depreciation and amortization 160 8,675
Selling, general and administrative expenses 27 45,319
Income tax (10) (3,842)
----- --------
Total operating expenses 177 454,193
----- --------
Operating income (loss) (177) (7,079)
Other income (expense), net 0 970
----- --------
Net income (loss) (177) (6,109)
Accumulated deficit at beginning of period (26) (24,656)
Fair value purchase accounting adjustment 0 30,562
----- --------
Accumulated deficit at end of period $(203) $ (203)
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(1) Represents revenue of subsidiary (AllEnergy Marketing Co., L.L.C.)
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