SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
- --------------------------------------------------
:
In the Matter of :
:
PUBLIC SERVICE COMPANY OF OKLAHOMA : CERTIFICATE
:
CENTRAL AND SOUTH WEST CORPORATION : OF
:
File No. 70-8887 : NOTIFICATION
:
(Public Utility Holding Company Act of 1935) :
- --------------------------------------------------:
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.
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. 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.
During the second half of 1996, the Numanco Companies entered into a
joint venture agreement with a third party to provide industrial
tank cleaning services. Under this joint venture agreement, the
Numanco Companies will provide temporary employees at cost and the
joint venture partner will provide a patented and proprietary piece
of tank cleaning equipment known as the Trac-Pump. The Numanco
Companies will staff and operate jobs using the Trac-Pump with the
profits split 50/50 between the two companies. Targeted users of
this service are the Department of Energy, electric utility
companies, petro-chemical companies and others with large storage
tanks or other cleaning applications. This activity contributed less
than 1% of The Numanco Companies' revenues in 1996.
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.
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. PSO's share of these profits for 1996
was $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 amount reported above is the cumulative amount collected by the
venture.
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.
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 28th day of February 1997.
Public Service Company of Oklahoma
/S/ R. RUSSELL DAVIS
R. Russell Davis
Controller and Chief
Accounting Officer
