UNITED STATES OF AMERICA
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Application of Northeast )
Utilities, Western Massachusetts )
Electric Company, The Quinnehtuk )
Company, Northeast Utilities )
Service Company, The Connecticut )
Light and Power Company, Northeast )
Nuclear Energy Company, The Rocky )
River Realty Company, Public )
Service Company of New Hampshire, ) CERTIFICATE PURSUANT TO
North Atlantic Energy Company and ) RULE 24 UNDER THE PUBLIC
North Atlantic Energy Service ) UTILITY HOLDING COMPANY ACT
Company on Form U-1 ) OF 1935
(File No. 70-8825) )
Pursuant to the requirements of Rule 24 under the Public Utility Holding
Company Act of 1935, Northeast Utilities (NU), a registered holding company,
hereby files this quarterly report as required by the Securities and Exchange
Commission's order authorizing acquisition of nonutility subsidiaries (HCAR.
No. 26554; August 13, 1996, File No. 70-8825)(Order).
For the first quarter ended March 31, 1997, the activities to be
reported pursuant to the Order are as follows:
1) Since there were no new companies during this quarter, there are no
bylaws or certificates of incorporation to include.
2) The number of employees assigned to NUSCO Energy Partners, Inc. are:
9 employees - Northeast Utilities Service Company
3) The services provided to NUSCO Energy Partners, Inc. for the first
quarter are as follows:
Provided by Northeast Utilities Service Company:
Thousands
of dollars
Marketing services $789
New product
development 376
Customer billing
system development 199
Legal services 23
Miscellaneous 7
-----
Total $1,394
======
Provided by Public Service Company of New Hampshire:
Customer billing
system development $60
Marketing services 12
Miscellaneous 2
-----
Total $ 74
=====
4) Balance Sheet, Income Statement, and Statement of Cash Flow
NUSCO ENERGY PARTNERS, INC.
BALANCE SHEET
(Unaudited)
March 31, 1997
Thousands
of Dollars
----------
ASSETS
- ------
Current Assets:
Cash $ 40
Receivables, net 117
Taxes receivable from affiliated
companies 1,170
Other 5
-----------
1,332
-----------
Total Assets $ 1,332
===========
CAPITALIZATION AND LIABILITIES
- ------------------------------
Capitalization:
Common shareholders' equity:
Common shares $ -
Capital surplus, paid in 51
Retained earnings (2,161)
-----------
Total capitalization (2,110)
-----------
Current Liabilities:
Accounts payable 984
Accounts payable to affiliated companies 2,458
-----------
3,442
-----------
Total Capitalization and Liabilities $ 1,332
===========
NUSCO ENERGY PARTNERS, INC.
INCOME STATEMENT
(Unaudited)
First quarter
Ended
March 31,
1997
-------------
(Thousands
of Dollars)
Operating Revenues $ 422*
-------------
Operating Expenses:
Operation
Purchased power - energy 268
Purchased power - capacity 52
Other 2,692
Maintenance 1
Federal and state income taxes (905)
Taxes other than income taxes 2
-------------
Total operating expenses 2,110
-------------
Operating Loss (1,688)
-------------
Other Deductions (60)
-------------
Net Loss $ (1,748)
=============
*First quarter revenues of $422,000 reflect $343,000 related to first quarter
activity and a $79,000 adjustment of the 1996 fourth quarter activity.
NUSCO ENERGY PARTNERS, INC.
STATEMENT OF CASH FLOWS
(Unaudited)
First quarter
Ended
March 31,
1997
-------------
(Thousands
of Dollars)
Operating Activities:
Net Loss $ (1,748)
Changes in working capital:
Receivables and accrued revenues (932)
Accounts payable 2,673
Other working capital (excludes cash) (3)
-------------
Net cash flows from operating activities (10)
Financing Activities:
Additional paid in capital 50
-------------
Net cash flows from financing activities 50
Net increase (decrease) in cash 40
Cash - beginning of period 0
-------------
Cash - end of period $ 40
=============
5) Number of kilowatt hours marketed or sold at retail by customer class
NUSCO ENERGY PARTNERS, INC.
KWHS SOLD AT RETAIL
(Unaudited)
First quarter
Ended
March 31,
1997
------------
(Thousands
of KWHs)
Residential 5,116
Commercial 6,053
Industrial 347
------------
11,516
============
Pursuant to the Supplemental Order Authorizing Expansion of Marketing
Activities of Nonutility Subsidiaries (HCAR. No. 26592; October 11, 1996,
File No. 70-8825)(Supplemental Order).
For the first quarter ended March 31, 1997, the activities to be
reported pursuant to the Supplemental Order are as follows:
1) A description of the marketing activities undertaken during the quarter
with a copy of any applicable state regulatory approval of the program under
which such activities are conducted and/or any applicable energy tariff.
During this quarter, the activities consisted of:
Marketing of energy in the New Hampshire retail competition program.
Marketing activities related to request for proposals for energy
service.
Marketing activities in Phase 1 of Rhode Island open access.
There were no applicable state regulatory approvals.
2) 100% of the total revenues is attributable to energy sales.
3) The income statement and balance sheet are included above.
SIGNATURE
Pursuant to the requirements of the Public Utility Holding Company Act
of 1935, the undersigned company has duly caused this Certificate to be
signed on its behalf by the undersigned thereunto duly authorized.
/s/ John J. Roman
Vice President and Controller
Northeast Utilities
P.O. Box 270
Hartford, CT 06141-0270
May 30, 1997
