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<PAGE> 1
UNITED STATES OF AMERICA
before the
SECURITIES AND EXCHANGE COMMISSION
PUBLIC UTILITY HOLDING COMPANY ACT OF 1935
______________________________________________
In the matter of
CSW Energy, Inc. REPORT FOR PERIOD
Dallas, Texas 75266-0164 October 1, 1994 to
December 31, 1994
File No. 070-08205 PURSUANT TO RULE 24
This report is filed under Rule 24 of the Public
Utility Holding Company Act of 1935 by CSW Energy, Inc.
("CSW Energy"), a wholly owned subsidiary of Central and
South West Corporation ("CSW"). Under HCAR 35-25728, CSW
Energy is authorized to participate in cogeneration projects
and to provide consulting services with respect to IPPs.
Attached is the information required pursuant to HCAR 35-
25728.
(1) A balance sheet as of the relevant report date. See
Exhibit A.
(2) An income statement for the twelve months ended. See
Exhibit B.
(3) Name, owner, and location of each IPP served by CSW
Energy during the quarter. None.
(4) The amount of compensation received for each IPP
project. None.
(5) Information on intercompany transactions with CSW
Energy related to CSW Energy's consulting services,
including (a) the name of each associate company
providing services, (b) a listing of services provided
and (c) the total dollar amount of services provided,
broken down by associate company. See Exhibit C.
(6) A schedule of aggregate development expenses and
investments as of the relevant quarterly reporting
date. See Exhibit D.
<PAGE> 2
S I G N A T U R E
As requested by order of this Commission pursuant to
the Public Utility Holding Company Act of 1935, CSW Energy,
Inc. has duly caused this report to be signed on its behalf
on this 27th day of January, 1995.
CSW Energy, Inc.
EDDIE PEEBLES
Eddie Peebles
Controller
<PAGE> 3
Exhibit A
CSW Energy, Inc.
Balance Sheets
December 31, 1994 and December 31, 1993
(Unaudited)
($000's)
ASSETS 12/31/94 12/31/93
CURRENT ASSETS
Accounts Reveivable $ 9,514 $ 70,628
Other Current Assets 3,556 2,519
------- -------
13,070 73,147
NONCURRENT ASSETS
Equity Investments 160,844 91,612
Notes Receivable 110,949 71,324
Deferred 17,171 10,220
------- -------
Charges and Other 288,964 173,156
TOTAL $302,034 $246,303
======= =======
LIABILITIES AND EQUITY
LIABILITIES
Accounts Payable and Other $ 6,565 $ 8,529
Borrowings from CSW Corp. 221,401 208,771
Other Liabilities 3,202 7,110
Accumulated Deferred Income
Taxes 21,179 1,247
------- -------
252,347 225,657
EQUITY
Common Stock 1 1
Paid in Capital 53,481 26,377
Retained Earnings (3,795) (5,732)
------- -------
Earnings 49,687 20,646
TOTAL $302,034 $246,303
======= =======
<PAGE> 4
Exhibit B
CSW Energy, Inc.
Statements of Income
For the Twelve Months Ended December, 1994 and 1993
(Unaudited)
($000's)
Income: 12/31/94 12/31/93
Income from Equity Investments $ 7,915 $ (5,969)
Interest Income 13,432 9,632
Construction Revenue 31,303 47,702
Development Fee Income 1,502 33
Misc. Income 3,369 144
------- -------
Total Income 57,521 51,542
Expenses:
Construction Expense 37,649 47,476
Depreciation and Amortization 672 105
Outside Services 4,526 5,074
Provision for DFIT 19,932 29
Income Tax Benefit (18,344) (3,014)
Expenses Transferred Out (7,587) (5,772)
Interest Expense 8,089 7,090
General and Administrative Expense 10,647 6,097
Total Expenses 55,584 57,085
Net Income/(Loss) 1,937 (5,543)
<PAGE> 5
Exhibit C
CSW Energy, Inc.
Intercompany Service Transactions
For the Twelve Months Ended December 31, 1994
(Unaudited)
Name Type of Service Amount
Central and South West Salaries, overheads, and travel $ 2,059,448
Services, Inc. (Wholly owned in support of CSW Energy, Inc.
subsidiary of Central and projects.
South West Corporation)
West Texas Utilities Salaries, overheads, and travel $ 19,106
(Wholly owned subsidiary of in support of CSW Energy, Inc.
Central and South West projects.
Corporation)
Central Power and Light Salaries, overheads, and travel $ 40,263
(Wholly owned subsidiary in support of CSW Energy, Inc.
Central and South West projects.
Corporation)
Transok, Inc. Salaries, overheads, and travel $ 276,478
(Wholly owned subsidiary of in support of CSW Energy, Inc.
Central and South West projects.
Corporation)
Central and South West Interest on cash advances $ 8,088,840
Corporation (Parent) provided to CSW Energy, Inc.
CSW Development - I Engineering, Procurement & $ 19,109,667
(Wholly owned subsidiary of Construction services to Polk
CSW Energy, Inc.) Power Partners in connection
with the Mulberry project.
<PAGE> 6
Exhibit D
CSW Energy, Inc.
Aggregate Development Expenses and Investments
As of December 31, 1994
(Unaudited)
Projects Stage Development Costs Investments
I. Development activities other than through ARK/CSW JV
or CSW/EnerTran JV, subject to $150,000,000 aggregate
limit on authority in 70-7758.
Various Projects:
Development $50,357,924
II. Development activities through ARK/CSW JV subject to
$50,000,000 sublimit, part of $150,000,000 aggregate
authority in 70-7758.
A. Investment in ARK/CSW JV $400,000
B. Various Projects:
Development $48,139,835
III. Development activities through CSW EnerTran JV subject
to $10,000,000 authority in 70-7852, part of
$150,000,000 aggregate authority in 70-7758.
A. Various Projects:
Development $5,438,028 $79,586
IV. Projects subject to specific authority developed
through ARK/CSW JV:
Brush (70-7876) Construction $0 $15,348,000
Orange (70-8133) Construction $66,874,178
SMUD (70-8269) Development $13,782,978
V. Development activities other than through ARK/CSW JV or
CSW/EnerTran JV, subject to specific authority:
Fort Lupton (70-8097)
Construction $103,383,310 $38,500,000
Sweeny (70-8469) Development $1,485,804
Texas Gulf (70-8433)
Development $218,917
Northwest Regional
Power Facility (70-8483)
Development $5,548,550
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