UNITED STATES OF AMERICA
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Application of Northeast ) CERTIFICATE PURSUANT TO
Utilities and Northeast ) RULE 24 UNDER THE PUBLIC
Generation Services ) UTILITY HOLDING COMPANY ACT
Company on Form U-1 ) OF 1935
File No. 70-9543 )
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 the use of proceeds of financing transaction for
investment in Exempt Wholesale Generators. HCAR No. 35-27148, March 7, 2000,
File No. 70-9543) ("Order").
For the first quarter ended March 31, 2000, the following information is
reported pursuant to the Order.
1) A computation in accordance with rule 53(a) (as modified by the Commission's
order in this proceeding) of NU's aggregate investment in EWGs.
As of March 31, 2000, NU's aggregate investment in EWGs was approximately
$468.9 million, or 78% of its average NU Consolidated Retained Earnings of
approximately $600.2 million.
2) Consolidated capitalization ratios of NU as of the end of that quarter,
with consolidated debt to include all short-term debt and non-recourse
debt of the EWG.
NU Consolidated Capitalization
As of March 31, 2000
------------------------------------
(thousands of dollars) %
---------------------- -----
Common shareholders' equity $2,363,999 36.4%
Preferred stock 402,239 6.2
Long-term and short-term debt 3,727,862 57.4
---------- -----
$6,494,100 100.0%
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3) Analysis of the growth in consolidated retained earnings which segregates
total earnings growth of Northeast Generation Company (NGC) from that
attributable to other subsidiaries of NU.
Retained Earnings statement as of March 31, 2000
NU
NGC CONSOLIDATED
--- ------------
(Thousands of Dollars)
Beginning balance as of January 1, 2000 $(3,156) $581,817
Additions:
Net Income 3,008 74,587
Deductions:
Dividends declared-common shares - (14,312)
------- --------
Ending balance as of March 31, 2000 $ (148) $642,092
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4) A statement of revenues and net income for the EWG for the twelve months
ending as of the end of that quarter.
NGC
Twelve months ended March 31, 2000
(Thousands of Dollars)
Revenues $ 6,835
Net Loss $ (27)
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 Service Company
P.O. Box 270
Hartford, CT 06141-0270
May 19, 2000
