|
|
|
|
|
|
|
|
|
|
|
|
|
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 October 1, 1998 to
December 31, 1998
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. None.
<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 25th day of February, 1999.
CSW Energy, Inc.
/s/ Sandra S. Bennett
Sandra S. Bennett
Controller
Exhibit A
CSW Energy, Inc.
Balance Sheet
December 31, 1998
(Unaudited)
($000's)
Assets
Current Assets
Cash and cash equivalents $29,308
Accounts receivable 13,721
Prepaid expenses 893
----------
Total current assets 43,922
Investments In and Advances to Energy Projects 113,619
Notes Receivable - Affiliate 102,696
Notes Receivable 68,506
Other Assets
Construction in progress and project development costs 84,019
Property, Plant, and Equipment, net 195,996
Other - net 10,757
----------
Total other assets 290,772
Total assets $619,515
==========
Liabilities and Shareholder's Equity
Current Liabilities
Accounts payable $26,418
Accrued liabilities and other 12,472
----------
Total current liabilities 38,890
Long Term Debt 348,887
Deferred Income Taxes 37,408
Other 66,175
----------
Total liabilities 491,360
Minority Interest 16,648
Shareholder's Equity
Common stock 1
Additional paid-in-capital 108,139
Accumulated retained earnings 3,367
----------
Total shareholder's equity 111,507
Total liabilities, shareholder's
equity and minority interest $619,515
==========
Exhibit B
CSW Energy, Inc.
Statements of Income
For the Twelve Months Ended December 31, 1998 & 1997
(Unaudited)
($000's)
1998 1997
------------- ------------
OPERATING REVENUE:
Equity in income from energy projects $ 14,344 $ 15,805
Electric and Thermal Revenue 109,036 863
Operation and maintenance services 6,635 4,271
Other 11,580 299
------------- ------------
Total operating revenue 141,595 21,238
OPERATING EXPENSES:
Salaries, wages, and benefits 9,249 5,186
Fuel expense 68,107 656
Operation and maintenance services 31,165 3,804
General and administrative 20,350 1,056
------------- ------------
Total operating expenses 128,871 10,702
------------- ------------
INCOME FROM OPERATIONS 12,724 10,536
OTHER INCOME (EXPENSE)
Interest income 41,877 8,460
Interest expense (49,754) (10,027)
Other, net 2,994 2,959
------------- ------------
Total other income (expense) (4,883) 1,392
------------- ------------
INCOME BEFORE INCOME TAXES 7,841 11,928
PROVISION FOR INCOME TAXES 5,182 4,766
------------- ------------
Net income (loss) $ 2,659 $ 7,162
============= ============
|
|