SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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In the Matter of :
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PUBLIC SERVICE COMPANY OF OKLAHOMA : CERTIFICATE
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CENTRAL AND SOUTH WEST CORPORATION : OF
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File No. 70-8887 : NOTIFICATION
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(Public Utility Holding Company Act of 1935) :
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This report is filed under Rule 24 of the Public Utility Holding Company
Act of 1935 by Public Service Company of Oklahoma (PSO) a subsidiary of Central
and South West Corporation (CSW). Pursuant to an Order of the Securities and
Exchange Commission dated December 30, 1996 (HCAR 35-26638), PSO must file
semi-annual reports providing the following information with respect to the
activities related to its investment in Nuvest, L.L.C.(Nuvest), which provides
services to public utility companies through its subsidiaries, Numanco, Inc. and
Numanco, L.L.C. (collectively, together with Nuvest, referred to as the Numanco
Companies): 1) a description of all services performed by the Numanco Companies
during the most recent six month period (the reporting period), 2) a description
of any services provided to PSO by the Numanco Companies during the reporting
period, 3) a statement of any dividends or interest paid to PSO, both for the
reporting period and cumulatively, as a result of its equity interests in the
Numanco Companies, and 4) a statement regarding the nature and consequences of
any event of default under the member agreement occurring during the reporting
period.
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1) Description of all services performed by the Numanco Companies during the
reporting period
- The Numanco Companies provided services in each of the
following four areas: health physics services, mechanical
services, quality assurance services and training services.
Of the services listed, over 99% of all work performed was
in commercial nuclear power plants within the United States.
Of the disciplines listed, over 90% of revenues came from
the provision of health physics services.
- As previously reported, Numanco Companies continues to
provide health physics and mechanical personnel as a result
of a joint venture with a third party. This joint venture
provides turn-key tank cleaning to utilities, heavy
industry, the U.S. Department of Energy and the U.S.
Department of Defense. While this venture has not received
any significant work to date, it is bidding on some fairly
large projects for the U.S. Department of Energy, one
electric utility and several petro-chemical facilities. The
strategy behind this venture is for the Numanco Companies to
utilize its personnel during the utility industry off-peak
season. While providing these types of services was
contemplated in the original U-1 application, the specific
applications were unknown.
2) Description of any services provided to PSO by the Numanco Companies during
the reporting period
- No services were provided to PSO during the reporting period
by the Numanco Companies.
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3) Statement of any dividends or interest paid to PSO, both for the reporting
period and cumulatively, as a result of its equity interests in the Numanco
Companies
- As a Limited Liability Company, all Nuvest's profits must be
distributed to its members. In the first six months of 1997,
PSO accrued $602,285 equity earnings associated with its
investment in Numanco. PSO's 1996 share of profits were
$1,041,180. Nuvest will offer a cash distribution to members
based on the members' tax liability attributable to the net
income of the company. The remainder will be retained to
support the growth of the Numanco Companies.
- No interest was paid to PSO during the reporting period nor
cumulatively.
- The cumulative amount of accrued equity earnings associated
with PSO's investment in Numanco is $1,643,465.
4) Statement regarding the nature and consequences of any event of default under
the member agreement occurring during the period
- No events of default occurred during the reporting period.
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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, Public Service Company of Oklahoma has duly caused
this report to be signed on its behalf on this 21th day of August 1997.
Public Service Company of Oklahoma
/s/ R. Russell Davis
R. Russell Davis
Controller and Chief
Accounting Officer
