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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 July 1, 1996 to
September 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 18th day of November 1996.
CSW Energy, Inc.
EDDIE PEEBLES
Eddie Peebles
Controller
CSW Energy, Inc.
Balance Sheet
September 30, 1996
(Unaudited)
($000's)
ASSETS
Current Assets
Accounts Receivable $ 2,070
Other Current Assets 8,498
-----------
10,568
-----------
Other Assets
Equity Investments 189,536
Notes Receivable 1,605
Deferred Charges and Other 34,918
-----------
226,059
-----------
TOTAL $ 236,627
===========
LIABILITIES AND EQUITY
Current Liabilities
Accounts Payable and Other $ 47,539
Borrowings from CSW Corp. 83,578
-----------
131,117
-----------
Deferred Credits
Other Liabilities 5,237
Accumulated Deferred Income Taxes 36,625
-----------
41,862
-----------
Stockholder's Equity
Common Stock 1
Paid in Capital 70,728
Retained Earnings (7,081)
-----------
63,648
-----------
TOTAL $ 236,627
===========
CSW Energy, Inc.
Statements of Income
For the Twelve Months Ended September 30, 1996 and 1995
(Unaudited)
($000's)
Income: 9/30/96 9/30/95
-------- -------
Income from Equity Investments $15,538 $16,767
Interest Income 1,588 19,149
Misc. Income 3,865 13,400
-------- -------
20,991 49,316
Expenses:
Depreciation and Amortization 3,218 1,638
Outside Services 4,397 3,842
Interest Expense 8,553 11,455
General and Administrative Expense, net 20,341 18,913
-------- -------
36,509 35,848
Net Loss Before Tax (15,518) 13,468
(Credit)/Expense for Income Taxes (6,032) 5,418
-------- -------
Net Income/(Loss) $(9,486) $8,050
======== =======
CSW Energy, Inc.
Intercompany Service Transactions
For the Nine Months Ended September 30, 1996
(Unaudited)
Name Type of Service Amount
- ------------ ----------------------- ---------
Central and South West Services, Inc. Salaries, overheads, and travel $2,128,398
(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.
West Texas Utilities, Inc. Salaries, overheads, and travel $64,486
(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 $3,196,534
(Parent) provided to CSW Energy, Inc.
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