SECURITIES AND EXCHANGE
COMMISSION
Washington, D.C.
FORM U-3A-2
STATEMENT BY HOLDING COMPANY
CLAIMING EXEMPTION
UNDER RULE U-3A-2 FROM THE
PROVISIONS OF THE
PUBLIC UTILITY HOLDING COMPANY
ACT OF 1935
* * * * *
File No. 69-291
TNP Enterprises, Inc.
(Name of Company)
hereby files with the Securities and Exchange Commission, pursuant to Rule 2,
its statement claiming exemption as a holding company from the provisions of the
Public Utility Holding Company Act of 1935 (Act), and submits the following
information:
1. The name, State of organization, location and nature of business of
claimant and every subsidiary thereof:
<TABLE>
<CAPTION>
State of Location and
Name Organization Nature of Business
<S> <C> <C>
TNP Enterprises, Inc. Texas P. O. Box 2943
Ft. Worth, TX 76113
Holding Company
Texas-New Mexico Power Company Texas P. O. Box 2943
Ft. Worth, TX 76113
Electric Utility/
Holding Company
Community Public Service Texas P. O. Box 2943
Company (formerly known Ft. Worth, TX 76113
as Bayport Cogeneration, Inc.) General purpose
corporation
(presently inactive)
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State of Location and
Name Organization Nature of Business
TNP Operating Company Texas P. O. Box 2943
Ft. Worth, TX 76113
General purpose
corporation (presently
inactive)
Texas Generating Company* Texas P. O. Box 2943
Ft. Worth, TX 76113
Special purpose
corporation
Texas Generating Company II* Texas P. O. Box 2943
Ft. Worth, TX 76113
Special purpose
corporation
<F1>
*Wholly owned subsidiary of Texas-New Mexico Power Company
</TABLE>
2. A brief description of the properties of claimant and of its subsidiary
public utility company, Texas-New Mexico Power Company (TNP), used for the
generation, transmission, and distribution of electric energy for sale,
indicating the location of principal generating plants, transmission lines and
distribution facilities including all such properties which are outside the
State in which claimant and its subsidiaries are organized, and all transmission
lines which deliver or receive electric energy at the borders of such States, is
as follows:
The claimant owns all of the issued and outstanding common stock, $10.00
par value, of TNP, an electric public utility corporation, the principal
operating subsidiary of claimant. TNP is a regulated public utility engaged in
the generation, transmission, distribution and sale of electric energy. TNP has
two operating regions throughout Texas. The largest municipalities within Texas
served by TNP are Texas City, Lewisville, and La Marque. The regions located in
the State of Texas are as follows:
- - North-Central Region. Electric transmission and distribution systems
serving 25 municipalities and 18 unincorporated communities in 17 counties
to the south and west of Fort Worth, Texas, and serving 30 municipalities
and 14 unincorporated communities in 11 North Texas counties. The region is
based at Lewisville, Texas.
- - South-Western Region. Electric transmission and distribution systems
serving 14 municipalities and 2 unincorporated communities in 3 counties on
the Texas Gulf Coast, and serving 6 municipalities and 1 unincorporated
community in 5 counties in West Texas. The region is based at Texas City,
Texas.
Generating facilities owned by TNP and the subsidiaries are located within
Robertson County, Texas, which is in the Central part of Texas. The generating
facilities are referred to as 150 MW, circulating fluidized bed units currently
using lignite as the fuel source. TNP also has a transmission line connecting
these units to a major transmission grid in Texas. Electricity from these units
is sold by TNP solely within Texas. Neither the claimant nor any of its
subsidiaries own transmission lines which deliver or receive electricity at the
border of Texas.
Within New Mexico, TNP is a regulated public utility engaged in the
generation, transmission, distribution and sale of electric energy.
- - TNP has one region in the southwestern portion of New Mexico which operates
electric transmission and distribution facilities. The largest
municipalities served by TNP are Silver City, Alamogordo, and Ruidoso. The
region serves 5 municipalities and 5 unincorporated communities in Grant
and Hidalgo Counties, and 4 municipalities and 1 unincorporated community
in Otero and Lincoln Counties. The New Mexico region is based at Silver
City, New Mexico.
3. Certain information, for the calendar year 1995 with respect to claimant
and its subsidiaries, is provided in the following chart:
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<TABLE>
<CAPTION>
Summary Sheet
Texas (1) New Mexico Total System
-------------------------------------- ------------ -------------------------------
TNP TGC TGC II TNP TNP TGC TGC II
<S> <C> <C> <C> <C> <C> <C> <C>
Operating Revenue $416,312 - - 69,511 485,823 - -
Net Utility Plant $528,458 147,100 189,392 79,054 607,512 147,100 189,392
87.0% 100.0% 100.0% 13.0% 100.0% 100.0% 100.0%
Total Customers 170,586 - - 43,018 213,604 - -
79.9% 0.0% 0.0% 20.1% 100.0% 0.0% 0.0%
MWH Sold:
Wholesale 3,456 - - - 3,456 - -
Retail 5,078,733 - - 1,558,638 6,637,371 - -
Total System 5,082,189 1,558,638 6,640,827 - -
MWH Purchased 2,976,483 - - 1,635,703 4,612,186 - -
MWH Generated 2,351,000 - - - 2,351,000 - -
<F1>
(1) No MWH are purchased or sold at the State line.
All dollar amounts are in thousands
</TABLE>
<PAGE>
4. Neither the claimant nor any of its subsidiaries are directly or
indirectly involved with, or have an interest in either an Exempt Wholesale
Generator or a foreign utility company.
Exhibit A. A consolidating statement of operations of the claimant and its
subsidiary companies for the last calendar year, 1995, together with a
consolidating balance sheet of claimant and its subsidiary companies as of the
close of the 1995 calendar year, is presented.
Exhibit B. A Financial Data Schedule for the period ended December 31,
1995, including Item Nos. 1, 2, and 3.
Exhibit C. Inapplicable.
The above named claimant has caused this statement to be duly executed on
its behalf by its authorized officer on this 28 day of February, 1996.
TNP Enterprises, Inc.
By \s\ M. S. Cheema
------------------------
M. S. Cheema
Vice President and Chief
Financial Officer
Corporate Seal
Attest:
\s\ M.D. Blanchard
- --------------------------
M. D. Blanchard
Secretary
The name, title and address of the officer to whom notices and correspondence
concerning this statement should be addressed is:
M. D. Blanchard Secretary
Name Title
P. O. Box 2943, Fort Worth, Texas 76113
Address
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<CAPTION>
TNP ENTERPRISES, INC. AND SUBSIDIARIES
EXHIBIT A, PAGE 1
Consolidating Statements of Operations
Year Ended December 31, 1995
(Amounts in Thousands)
TNP
Texas-New TNP Bayport TNP Enterprises,
Mexico Power Operating Cogen- Enterprises Consolidating Inc.
Company Company eration Inc. Entries Consolidated
------------ --------- -------- ----------- ---------- -------------
<S> <C> <C> <C> <C> <C> <C>
Operating Revenues $ 485,823 485,823
-------- -------- -------- -------- -------- --------
Operating Expenses :
Purchased power 178,465 178,465
Fuel 48,898 48,898
Other operating and general expenses 71,311 71,311
Maintenance 11,522 11,522
Depreciation of utility plant 37,850 37,850
Taxes other than income taxes 28,865 28,865
Income taxes 12,317 12,317
-------- -------- -------- -------- -------- --------
Total Operating Expenses 389,228 -- -- -- -- 389,228
-------- -------- -------- -------- -------- --------
Net Operating Income 96,595 -- -- -- -- 96,595
-------- -------- -------- -------- -------- --------
Other Income (Loss):
Gain on sale of Texas Panhandle properties 14,583 14,583
Other income and deductions, net 1,470 49 (274) 1,245
Income taxes (5,324) (16) (63) (5,403)
-------- -------- -------- -------- -------- --------
Other Income (Loss), net of taxes 10,729 33 -- (337) -- 10,425
-------- -------- -------- -------- -------- --------
Earnings (Loss) before interest charges
and change in accounting 107,324 33 -- (337) -- 107,020
Interest charges 73,960 73,960
-------- -------- -------- -------- -------- --------
Earnings (Loss) before cumulative effect
of change in accounting 33,364 33 -- (337) -- 33,060
Cumulative effect of change in accounting for
unbilled revenues, net of taxes 8,445
-------- -------- -------- -------- -------- --------
Net Earnings (Loss) 41,809 33 -- (337) -- 41,505
Dividends on preferred stock 655 655
-------- -------- -------- -------- -------- --------
Earnings (Loss) Applicable
to Common Stock $ 41,154 33 -- (337) -- 40,850
======== ======== ======== ======== ======== ========
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<TABLE>
<CAPTION>
TNP ENTERPRISES, INC. AND SUBSIDIARIES
EXHIBIT A, PAGE 2
Consolidating Balance Sheet
December 31, 1995
(Amounts in Thousands)
TNP TNP TNP Enterpises,
TNMP Operating Bayport Enterprises, Consolidating Inc.
Consolidated Company Cogeneration Inc. Entries Consolidated
------------ ---------- ------------ ----------- ------------- -------------
<S> <C> <C> <C> <C> <C> <C>
ASSETS
Utility plant $1,196,872 1,196,872
Less: accumulated depreciation 252,868 252,868
---------- ---------- ---------- ---------- ---------- ----------
Net Utility Plant 944,004 -- -- -- 944,004
---------- ---------- ---------- ---------- ---------- ----------
Investment in Subsidiary Companies 225,535 (225,535) --
TNP One Replacement Notes --
Nonutility property 175 981 1,156
Current Assets : --
Cash and cash equivalents 14,450 127 1 6,527 21,105
Intercompany accounts receivable 115 8,534 (9,424) (775)
Other current assets 24,766 461 25,227
Deferred purchased power and fuel 9,261 9,261
---------- ---------- ---------- ---------- ---------- ----------
Total current assets 48,477 242 1 15,061 (8,963) 54,818
---------- ---------- ---------- ---------- ---------- ----------
Deferred debits 32,287 -- -- 1,930 (3,762) 30,455
---------- ---------- ---------- ---------- ---------- ----------
TOTAL ASSETS $1,024,943 1,223 1 242,526 (238,260) 1,030,433
========== ========== ========== ========== ========== ==========
CAPITALIZATION AND LIABILITIES
Capitalization :
Common shareholders' equity:
Common stock $ 107 100 1 134,973 (208) 134,973
Capital In excess of par value 174,931 100 (175,031) --
Retained earnings 49,313 983 82,484 (50,296) 82,484
---------- ---------- ---------- ---------- ---------- ----------
Total common shareholders' equity 224,351 1,183 1 217,457 (225,535) 217,457
---------- ---------- ---------- ---------- ---------- ----------
Preferred stock 3,600 3,600
Long-term debt less current maturities 611,925 611,925
---------- ---------- ---------- ---------- ---------- ----------
Total Capitalization 839,876 1,183 1 217,457 (225,535) 832,982
---------- ---------- ---------- ---------- ---------- ----------
Current Liabilities :
Current maturities of long-term debt 1,070 1,070
Accounts payable 22,040 22,040
Intercompany accounts payable -- 4,191 (4,191) --
Other current liabilities 59,965 40 9,369 (8,534) 60,840
---------- ---------- ---------- ---------- ---------- ----------
Total current liabilities 83,075 40 -- 13,560 (12,725) 83,950
---------- ---------- ---------- ---------- ---------- ----------
Regulatory tax liabilities 26,826 26,826
Accumulated deferred income taxes 47,066 10,315 57,381
Accumulated deferred investment tax credits 17,398 1,194 18,592
Deferred credits 10,702 10,702
---------- ---------- ---------- ---------- ---------- ----------
TOTAL CAPITALIZATION AND LIABILITIES $1,024,943 1,223 1 242,526 (238,260) 1,030,433
========== ========== ========== ========== ========== ==========
</TABLE>
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<CAPTION>
TNP ENTERPRISES, INC. AND SUBSIDIARIES
EXHIBIT B: Financial Data Schedule
Period Ending December 31, 1995
(Amounts in Thousands)
Item No. Caption Heading Amount
- ---------- ------------------------- ------------
<S> <C> <C>
1 Total Assets $ 1,030,433
2 Total Operating Revenues 485,823
3 Net Income (Loss) 41,505
</TABLE>
