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Previous: EATERIES INC, PRER14A, 2000-05-22 |
Next: CSW ENERGY INC, 35-CERT, 2000-05-22 |
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 75202 Jamuary 1, 2000 to
March 31, 2000
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 independent power projects ("IPP's").
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 as of the relevant report
date. 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 17th day of May, 2000.
CSW Energy, Inc.
/s/ Sandra S. Bennett
Sandra S. Bennett
Controller
Exhibit A
CSW Energy, Inc.
Balance Sheet
March 31, 2000
(Unaudited)
($000's)
Assets
Current Assets
Cash and cash equivalents $6,415
Accounts receivable 26,524
Prepaid expenses 11,002
---------
Total current assets 43,941
Investments In and Advances to Energy Projects 133,005
Notes Receivable - Affiliate 162,126
Other Assets
Property, Plant, and Equipment, net 19,525
Construction in progress and project development costs 265,836
Other - net 5,641
---------
Total other assets 291,002
---------
Total assets $630,074
=========
Liabilities and Shareholder's Equity
Current Liabilities
Accounts payable $5,553
Accrued liabilities and other 8,939
---------
Total current liabilities 14,492
Notes Payable - Affiliate 191,052
Long Term Debt 199,938
Deferred Income Taxes 47,774
Other 14,349
---------
Total liabilities 467,605
Minority Interest 66
Shareholder's Equity
Common stock 1
Additional paid-in-capital 108,139
Accumulated retained earnings 54,263
---------
Total shareholder's equity 162,403
---------
Total liabilities and shareholder's equity $630,074
=========
Exhibit B
CSW Energy, Inc.
Statements of Income
For the Twelve Months Ended March 31, 2000 and 1999
(Unaudited)
($000's)
<TABLE>
<CAPTION>
2000 1999
<S> <C> <C>
OPERATING REVENUE:
Electric revenues $81,242 $ 73,129
Thermal revenues 22,259 45,936
Equity in Income from energy projects 16,336 12,174
Operating and mantenance contract services 9,610 6,928
Construction contract revenue 48,131 10,846
Other 52,952 624
----------- -----------
Total operating revenue 230,530 149,637
OPERATING EXPENSES:
Fuel 58,114 71,261
Operating, maintnance and supplies 12,889 18,479
Depreciation and amortization 6,077 9,514
Salaries, wages and benefits 12,397 9,132
Construction contract expenses 40,245 8,368
General and administrative 13,270 6,838
Operating and maintenance contract services 5,176 4,656
----------- -----------
Total operating expenses 148,168 128,248
INCOME FROM OPERATIONS 82,362 21,389
OTHER INCOME (EXPENSE)
Interest income 30,033 49,170
Interest expense (25,743) (58,437)
Other, net (3,261) 2,816
----------- -----------
Total other (expense) 1,029 (6,451)
INCOME BEFORE INCOME TAXES 83,391 14,938
PROVISION FOR INCOME TAXES 34,400 6,240
----------- -----------
Net income 48,991 8,698
EFFECT OF CHANGE IN ACCOUNTING PRINCIPLE - 4,518
----------- -----------
$48,991 $ 4,180
=========== ===========
</TABLE>
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