|
|
|
|
|
|
|
|
|
|
|
|
|
|
Previous: DEFINED ASSET FUNDS GOVT SEC INCOME FD FREDDIE MAC SER 10, 497, 1997-05-19 |
Next: US FACILITIES CORP, 8-K, 1997-05-19 |
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 January 1, 1997 to
March 31, 1997
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 15th day of May 1997.
CSW Energy, Inc.
/s/ SANDRA BENNETT
Sandra Bennett
Controller
CSW Energy, Inc.
Balance Sheet
March 31, 1997
(Unaudited)
($000's)
ASSETS
Current Assets
Cash and cash equivalents $30,010
Accounts receivable 649
Prepaid expenses 12
---------
Total current assets 30,671
Investments In and Advances to Energy Projects 113,781
Notes Receivable - Affiliate 105,728
Other Assets
Construction in progress and project development costs 112,079
Other - net 8,136
---------
Total other assets 120,215
---------
Total assets $370,395
=========
LIABILITIES AND SHAREHOLDER'S EQUITY
Current Liabilities
Accounts payable $21,653
Accrued liabilities and other 8,066
---------
Total current liabilities 29,719
Long Term Debt 199,814
Deferred Income Taxes 35,282
Other 1,719
---------
Total liabilities 266,534
Shareholder's Equity
Common stock 1
Additional paid-in-capital 108,139
Accumulated retained earnings (4,279)
---------
Total shareholder's equity 103,861
---------
Total liabilities and shareholder's equity $370,395
=========
CSW Energy, Inc.
Statements of Income
For the Twelve Months Ended March 31, 1997 and 1996
(Unaudited)
($000's)
March 31, March 31,
1997 1996
-------- --------
OPERATING REVENUE:
Equity in income from energy projects $16,817 $18,401
Operation and maintenance services 4,046 3,808
Other 357 --
-------- --------
Total operating revenue 21,220 22,209
OPERATING EXPENSES:
Salaries, wages, and benefits 5,227 4,779
Loss on construction contract 7 199
Operation and maintenance services 2,601 2,328
General and administrative 5,363 3,560
Nonrecoverable project development costs 6,187 --
-------- --------
Total operating expenses 19,385 10,866
-------- --------
INCOME FROM OPERATIONS 1,835 11,343
OTHER INCOME (EXPENSE)
Interest income 2,944 10,756
Interest expense (11,781) (7,562)
Other, net (8,001) (4,450)
-------- --------
Total other income (expense) (16,838) (1,256)
-------- --------
INCOME (LOSS) BEFORE INCOME TAXES (15,003) 10,087
PROVISION (BENEFIT) FOR INCOME TAXES (5,882) 4,226
-------- --------
Net income (loss) $(9,121) $5,861
======== ========
CSW Energy, Inc.
Intercompany Service Transactions
For the Three Months Ended March 31, 1997
(Unaudited)
Name Type of Service Amount
- ---------------------------------- ------------------------ -----------
Central and South West Services, Inc. Salaries, overheads, and $748,097
(Wholly owned subsidiary of travel in support of CSW
Central and South West Corporation) Energy, Inc. projects.
Central Power and Light Company Salaries, overheads, and 14,945
(Wholly owned subsidiary of travel in support of CSW
Central and South West Corporation) Energy, Inc. projects.
Central and South West Corporation Net Interest on cash 374,208
(Parent) advances provided to CSW
Energy, Inc.
|
|