File No. 70-8893
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
AMENDMENT NO. 1
TO
FORM U-1
APPLICATION OR DECLARATION
UNDER
THE PUBLIC UTILITY HOLDING COMPANY ACT OF 1935
ALLEGHENY GENERATING COMPANY
10435 DOWNSVILLE PIKE
HAGERSTOWN, MD 21740
(Name of company or companies filing this statement and addresses of
principal executive offices)
Allegheny Power System, Inc.
(Name of top registered holding company parent of each applicant or
declarant)
Thomas K. Henderson, Esq.
Vice President
Allegheny Power Service Corporation
10435 Downsville Pike
Hagerstown, MD 21740
(Name and address of agent for service)
1. Applicant hereby amends Item 6, Exhibits and Financial Statements,
by filing the following:
(b) Financial Statements
1-A(i) AGC Balance Sheet as of June 30, 1996
1-B(i) AGC Statement of Income as of June 30, 1996 and
projected for 1996, 1997, and 1998
1-B(ii) AGC Five-Year Forecast for 1995 through 2000
SIGNATURE
Pursuant to the requirements of the Public Utility Holding Company
Act of 1935, the undersigned company has duly caused this statement to be
signed on its behalf by the undersigned thereunto duly authorized.
ALLEGHENY GENERATING COMPANY
By: CAROL G. RUSS
Carol G. Russ
Counsel
Dated: September 5, 1996
<TABLE>
<CAPTION>
ALLEGHENY GENERATING COMPANY
BALANCE SHEET - JUNE 30, 1996
(Thousands)
Assets
Property, plant, and equipment:
<S> <C>
At original cost 836,977
Accumulated depreciation (167,605)
669,372
Current Assets:
Cash and temporary cash investments 111
Accounts receivable:
Affiliated 3,945
Other 2
Materials and supplies - operating and construction 2,193
Other 627
6,878
Deferred Charges:
Regulatory assets 14,617
Other 9,814
24,431
Total Assets 700,681
Capitalization and Liabilities
Capitalization:
Common stock 1
Other paid-in capital 209,999
Retained earnings 16
210,016
Current Liabilities:
Long-term debt 240,584
Note and advances payable - affiliated 2,350
452,950
Current Liabilities:
Long-term debt due within 1 year 4,600
Accounts payable - affiliated 67
Taxes accrued - other 15
Interest accrued 5,065
9,747
Deferred credits and other liabilities:
Unamortized investment credit 50,326
Deferred income taxes 160,203
Regulatory liabilities 27,455
237,984
Total Capitalization and Liabilities 700,681
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
ALLEGHENY GENERATING COMPANY
STATEMENT OF INCOME
($000)
As of Projected Projected Projected
6/30/96 1996 1997 1998
ELECTRIC OPERATING REVENUES:
<S> <C> <C> <C> <C>
Monongahela Power 10,154 20,329 19,690 18,966
Potomac Edison 13,518 26,600 25,397 24,384
West Penn Power 18,260 36,719 35,283 34,059
41,932 83,648 80,370 77,409
OPERATING EXPENSES:
Power cost - other 1,162 3,340 3,198 3,304
Transmission and distribution 20 123 126 130
Administrative and general 1,152 2,150 1,811 1,873
Total Operation and Maintenance 2,334 5,613 5,135 5,307
Depreciation and other 8,580 17,161 17,169 17,177
Taxes other than income taxes 2,408 4,995 4,932 4,873
Federal and state income taxes 6,706 12,928 12,280 11,620
Total Operating Expenses 20,028 40,697 39,516 38,977
Operating Income 21,904 42,951 40,854 38,432
OTHER INCOME AND DEDUCTIONS:
Other income, net 3 24 24 24
Income Before Interest Charges 21,907 42,975 40,878 38,456
INTEREST CHARGES:
Interest on other long-term obligations 7,917 15,806 15,024 13,908
Other interest 492 960 960 960
Total Interest Charges 8,409 16,766 15,984 14,868
Net income 13,498 26,209 24,894 23,588
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
ALLEGHENY GENERATING COMPANY
ACTUAL FORECAST FORECAST FORECAST F0RECAST FORECAST
12/31/95 12/31/96 12/31/97 12/31/98 12/31/99 12/31/00
DEBT
<S> <C> <C> <C> <C> <C> <C>
COMMERCIAL PAPER/MONEY POOL 30,561 23,523 21,788 68,843 56,906 47,838
DEBENTURES 150,000 150,000 150,000 150,000 150,000 150,000
MEDIUM TERM NOTES 69,148 70,923 60,000 0 0 0
TOTAL DEBT 249,709 244,446 231,788 218,843 206,906 197,838
COMMON EQUITY
COMMON STOCK 1 1 1 1 1 1
PAID IN CAPITAL 209,999 209,999 209,999 209,999 209,999 209,999
RETAINED EARNINGS 4,153 (6,538) (16,844) (27,456) (37,220) (46,878)
TOTAL EQUITY 214,153 203,462 193,156 182,544 172,780 163,122
TOTAL CAPITALIZATION 463,862 447,908 424,944 401,387 379,686 360,960
EARNINGS 27,224 26,209 24,894 23,588 22,336 21,442
DIVIDENDS 35,800 36,900 35,200 34,200 32,100 31,100
</TABLE>
