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 75266-0789 April 1, 1996 to
June 30, 1996
File No. 070-07758 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 35-26417, 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 35-26417.
(1) A balance sheet as of the relevant report date. See Exhibit A.
(2) Income statements 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.
<PAGE>
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 26th day of August 1996.
CSW Energy, Inc.
/s/ EDDIE PEEBLES
Eddie Peebles
Controller
CSW Energy, Inc.
Balance Sheet
June 30, 1996
(Unaudited)
($000's)
ASSETS
Current Assets
Accounts Receivable $1,882
Other Current Assets 14
---------
1,896
---------
Other Assets
Equity Investments 193,023
Notes Receivable 1,425
Deferred Charges and Other 9,996
---------
204,444
---------
TOTAL $206,340
=========
LIABILITIES AND EQUITY
Current Liabilities
Accounts Payable and Other $36,862
Borrowings from CSW Corp. 68,043
---------
104,905
---------
Deferred Credits
Other Liabilities 5,304
Accumulated Deferred Income Taxes 33,639
---------
38,943
---------
Stockholder's Equity
Common Stock 1
Paid in Capital 70,728
Retained Earnings (8,237)
---------
62,492
---------
TOTAL $206,340
=========
CSW Energy, Inc.
Statements of Income
For the Twelve Months Ended June 30, 1996 and 1995
(Unaudited)
($000's)
Income: 6/30/96 6/30/95
-------- -------
Income from Equity Investments $14,702 $15,266
Interest Income 6,910 18,543
Misc. Income 4,021 25,660
-------- -------
25,633 59,469
Expenses:
Depreciation and Amortization 2,466 1,289
Outside Services 3,929 4,032
Interest Expense 10,198 11,338
General and Administrative Expense, net 23,557 29,128
-------- -------
40,150 45,787
Net Income/(Loss) Before Tax (14,517) 13,682
(Credit)/Expense for Income Taxes (5,635) 5,383
-------- -------
Net Income/(Loss) (8,882) 8,299
======== =======
CSW Energy, Inc.
Intercompany Service Transactions
For the Six Months Ended June 30, 1996
(Unaudited)
Name Type of Service Amount
- ------------- ---------------------- ----------
Central and South West Services, Salaries, overheads, and travel $1,262,373
Inc. (Wholly owned subsidiary of in support of CSW Energy, Inc.
Central and South West Corporation) projects.
Transok, Inc. * Salaries, overheads, and travel $ 41,486
(Wholly owned subsidiary of in support of CSW Energy, Inc.
Central and South West Corporation) projects.
Central and South West Corporation Interest on cash advances $2,049,062
(Parent) provided to CSW Energy, Inc.
* Transok was sold to Tejas Gas Corporation on June 6, 1996.
