UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-Q
(Mark One)
X QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended September 30, 1995
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the transition period from to
Commission file number 1-3576
ST. JOSEPH LIGHT & POWER COMPANY
(Exact name of registrant as specified in its charter)
State of Missouri 44-04l9850
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
520 Francis Street, P. O. Box 998, St. Joseph, Missouri 64502-0998
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (816) 233-8888
Former name, former address and former fiscal year, if changed
since last report.
Indicate by check mark whether the registrant (l) has filed all
reports required to be filed by Section l3 or l5(d) of the
Securities Exchange Act of l934 during the preceding l2 months (or
for such shorter period that the registrant was required to file
such reports), and (2) has been subject to such filing
requirements for the past 90 days.
Yes X No
Indicate the number of shares outstanding of each of the issuer's
classes of common stock, as of the latest practicable date.
Common Stock, without par value 3,906,369 shares
(Class) (Outstanding at October 31, 1995)
<PAGE>
ST. JOSEPH LIGHT & POWER COMPANY
FINANCIAL STATEMENTS
The unaudited financial statements included herein have been
prepared by the Company, pursuant to the rules and regulations of
the Securities and Exchange Commission. Certain information and
footnote disclosures normally included in financial statements
prepared in accordance with generally accepted accounting
principles have been condensed or omitted pursuant to such rules
and regulations, although the Company believes that the
disclosures are adequate to make the information presented not
misleading. It is suggested that these condensed financial
statements be read in conjunction with the financial statements
and the notes thereto included in the Company's l994 Annual Report
to Shareholders incorporated by reference in the Company's Form
l0-K Annual Report for l994.
STATEMENTS OF INCOME
(Unaudited Interim Report)
Three Months Ended
September 30
1995 1994
OPERATING REVENUES:
Electric
Retail sales & other $27,110,240 $22,091,769
Sales for resale 736,689 75,979
Other 1,895,648 1,859,051
$29,742,577 $24,026,799
OPERATING EXPENSES:
Production fuel $ 4,674,833 $ 5,051,619
Purchased power-System
energy 2,388,501 1,817,989
Resale 584,346 61,008
Gas purchased for
resale 200,043 200,078
Other operations 4,870,360 4,448,380
Maintenance 1,990,633 2,187,238
Depreciation 2,517,023 2,499,598
Taxes - General 1,692,062 1,653,996
Income 3,294,569 1,619,241
$22,212,370 $19,539,147
OPERATING INCOME $ 7,530,207 $ 4,487,652
OTHER INCOME & DEDUCTIONS:
Allowance for equity
funds used during
construction $ 67,050 $ 16,792
Other - including
income taxes on
nonutility operations $ 12,951 (4,790)
$ 80,001 12,002
INCOME BEFORE INTEREST
CHARGES $ 7,610,208 $ 4,499,654
INTEREST CHARGES (Net):
Long-term debt $ 1,462,400 $ 1,065,750
Interest on bank notes - 67,517
Other 35,149 26,697
Allowance for borrowed
funds used during
construction (105,439) (24,719)
$ 1,392,110 $ 1,135,245
NET INCOME AVAILABLE
FOR COMMON STOCK $ 6,218,098 $ 3,364,409
WEIGHTED AVERAGE COMMON
SHARES OUTSTANDING 3,906,369 3,917,108
EARNINGS PER AVERAGE
COMMON SHARE $1.59 $0.86
DIVIDENDS PAID PER
COMMON SHARE $0.46 $0.45
<PAGE>
STATEMENTS OF INCOME
(Unaudited Interim Report)
Nine Months Ended
September 30
1995 1994
OPERATING REVENUES:
Electric
Retail sales & other $63,773,724 $57,770,439
Sales for resale 899,474 3,246,969
Other 8,294,072 8,524,338
$72,967,270 $69,541,746
OPERATING EXPENSES:
Production fuel $11,443,587 $13,832,437
Purchased power-System
energy 6,637,918 5,511,160
Resale 690,844 2,957,197
Gas purchased for
resale 1,854,082 2,533,480
Other operations 13,839,306 8,788,313
Maintenance 7,610,530 5,466,236
Depreciation 7,443,813 7,388,765
Taxes - General 4,940,736 4,841,852
Income 4,576,881 5,182,323
$59,037,697 $56,501,763
OPERATING INCOME $13,929,573 $13,039,983
OTHER INCOME & DEDUCTIONS:
Allowance for equity
funds used during
construction $ 95,650 $ 114,626
Other - including
income taxes on
nonutility operations 599,079 (62,320)
$ 694,729 $ 52,306
INCOME BEFORE INTEREST
CHARGES $14,624,302 $13,092,289
INTEREST CHARGES (Net):
Long-term debt $ 4,095,899 $ 3,195,054
Interest on bank notes 118,170 105,147
Other 112,852 80,008
Allowance for borrowed
funds used during
construction (230,172) (81,165)
$ 4,096,749 $ 3,299,044
NET INCOME AVAILABLE
FOR COMMON STOCK $10,527,553 $ 9,793,245
WEIGHTED AVERAGE COMMON
SHARES OUTSTANDING 3,906,792 3,953,565
EARNINGS PER AVERAGE
COMMON SHARE $2.69 $2.48
DIVIDENDS PAID PER
COMMON SHARE $1.38 $1.35
STATEMENTS OF INCOME
(Unaudited Interim Report)
Twelve Months Ended
September 30
1995 1994
OPERATING REVENUES:
Electric
Retail sales & other $81,311,931 $74,949,935
Sales for resale 1,313,297 3,397,453
Other 11,582,456 12,555,664
$94,207,684 $90,903,052
OPERATING EXPENSES:
Production fuel $15,080,835 $17,577,547
Purchased power-System
energy 8,574,650 9,174,341
Resale 943,796 3,063,966
Gas purchased for
resale 2,617,101 3,814,931
Other operations 19,204,593 14,080,526
Maintenance 10,406,021 8,219,539
Depreciation 9,888,735 9,807,563
Taxes - General 6,459,210 6,241,372
Income 4,605,438 4,586,310
$77,780,379 $76,566,095
OPERATING INCOME $16,427,305 $14,336,957
OTHER INCOME & DEDUCTIONS:
Allowance for equity
funds used during
construction $ 97,715 $ 126,691
Other - including
income taxes on
nonutility operations $ 532,858 (10,379)
$ 630,573 116,312
INCOME BEFORE INTEREST
CHARGES $17,057,878 $14,453,269
INTEREST CHARGES (Net):
Long-term debt $ 5,161,649 $ 4,154,888
Interest on bank notes 195,292 166,141
Other 139,550 99,057
Allowance for borrowed
funds used during
construction (238,570) (86,935)
$ 5,257,921 $ 4,333,151
NET INCOME AVAILABLE
FOR COMMON STOCK $11,799,957 $10,120,118
WEIGHTED AVERAGE COMMON
SHARES OUTSTANDING 3,907,067 3,967,422
EARNINGS PER AVERAGE
COMMON SHARE $3.02 $2.55
DIVIDENDS PAID PER
COMMON SHARE $1.83 $1.79
<PAGE>
<TABLE>
ST JOSEPH LIGHT & POWER COMPANY
BALANCE SHEETS
<CAPTION>
September 30, December 31,
1995 1994
(Unaudited)
<C> <C>
<S>
ASSETS
UTILITY PLANT:
Electric $281,579,899 $269,283,356
Other 9,463,441 9,472,124
$291,043,340 $278,755,480
Less-Reserves for
depreciation 139,851,735 135,414,641
$151,191,605 $143,340,839
Construction work in
progress 4,759,568 4,951,211
$155,951,173 $148,292,050
OTHER INVESTMENTS $ 1,638,862 $ 2,345,938
CURRENT ASSETS:
Cash and cash equivalents $ 318,895 $ 407,392
Temporary investments 9,692,412 990,110
Receivables, less reserves 9,604,968 6,986,150
Unbilled revenue 2,959,985 3,523,432
Fuel, at average cost 4,243,904 3,831,468
Materials and supplies, at
average cost 5,606,461 5,323,948
Prepayments and other 1,916,633 1,232,848
$ 34,343,258 $ 22,295,348
DEFERRED CHARGES
Debt expense $ 1,691,331 $ 1,393,299
Lease payments receivable 3,566,850 3,659,444
Prepaid pension expense 8,570,609 7,690,792
Regulatory assets 13,805,951 13,395,196
Other 451,915 626,611
$ 28,086,656 $ 26,765,342
$220,019,949 $199,698,678
CAPITALIZATION & LIABILITIES
CAPITALIZATION (See statements):
Common stock and retained
earnings $ 80,880,627 $ 77,591,646
Long-term debt 73,100,000 53,100,000
$153,980,627 $130,691,646
CURRENT LIABILITIES:
Outstanding checks in
excess of cash balances $ 259,024 $ 2,802,771
Accounts payable 5,706,798 7,298,448
Notes payable - 6,300,000
Accrued income & general
taxes 6,045,291 837,654
Accrued interest 1,357,710 1,526,345
Accrued vacation 1,324,439 1,170,344
Dividends declared 1,796,930 -
Other 378,016 372,069
$ 16,868,208 $ 20,307,631
DEFERRED CREDITS AND
NON-CURRENT LIABILITIES:
Capital lease obligations $ 2,515,765 $ 2,527,495
Deferred income taxes 28,357,090 27,186,103
Investment tax credit 5,006,893 5,323,225
Accrued claims and benefits 1,460,535 1,590,184
Deferred revenues 2,520,219 2,609,331
Regulatory liabilities 7,474,349 7,984,979
Other 1,836,263 1,478,084
$ 49,171,114 $ 48,699,401
$220,019,949 $199,698,678
<FN> The accompanying Notes to Financial Statements are an
integral part of these statements.
</TABLE>
<PAGE>
<PAGE>
<TABLE>
ST JOSEPH LIGHT & POWER COMPANY
STATEMENTS OF CAPITALIZATION
<CAPTION> September 30, December 31,
1995 1994
(Unaudited) (Unaudited)
<C> <C>
<S>
COMMON STOCK AND RETAINED EARNINGS:
Common stock--authorized 25,000,000
shares, without par value, issued
4,626,374 shares $ 33,816,099 $ 33,816,099
Retained earnings 64,047,278 60,708,144
Other paid-in capital 380,148 380,148
Less-treasury stock, at cost,
720,005 and 718,483 shares
respectively (17,362,898) (17,312,745)
$ 80,880,627 $ 77,591,646
LONG-TERM DEBT:
First Mortgage Bonds -
9.44% Series due
February 1, 2021 $ 22,500,000 $ 22,500,000
7-3/8% Pollution Control Revenue
Bonds, Series due February 1, 2013 - 5,600,000
$ 22,500,000 $ 28,100,000
Unsecured Pollution Control Bonds-
5.85% Series due February 1, 2013 $ 5,600,000 $ -
Medium-term notes-
5.77% due December 8, 1998 $ 5,000,000 $ 5,000,000
7.13% due November 29, 2013 1,000,000 1,000,000
7.16% due November 29, 2013 9,000,000 9,000,000
7.17% due December 1, 2023 7,000,000 7,000,000
7.33% due November 30, 2023 3,000,000 3,000,000
8.36% due March 15, 2005 20,000,000 -
$ 45,000,000 $ 25,000,000
Total Long-Term Debt $ 73,100,000 $ 53,100,000
Total Capitalization $153,980,627 $130,691,646
<FN> The accompanying Notes to Financial Statements
are an integral part of these statements.
</TABLE>
<PAGE>
<PAGE>
<TABLE>
ST JOSEPH LIGHT & POWER COMPANY
STATEMENTS OF CASH FLOWS
(Unaudited Interim Report)
<Caption Nine Months Ended September 30
1995 1994
<C> <C>
<S>
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income $ 10,527,553 $ 9,793,245
Adjustments to reconcile net income
to cash provided by operating
activities:
Depreciation 7,443,813 7,388,765
Pension expense (879,817) (6,238,898)
Other post retirement
benefits (206,687) 753,471
Deferred taxes and investment credit (268,287) 1,699,292
Allowance for equity funds used
during construction (95,650) (114,627)
Gain on unit coal trains (805,874) -
Net changes in working capital items
not considered elsewhere:
Accounts receivable and unbilled
revenues (2,055,371) 1,271,238
Fuel (412,436) 155,173
Accounts payable and outstanding
checks (4,135,397) (5,614,558)
Accrued income and general taxes 5,207,637 3,577,192
Other, net (974,891) (669,177)
Net changes in regulatory
assets and liabilities 201,557 1,370,806
Net changes in other assets
and liabilities 140,562 (826,955)
Net cash provided by
operating activities $13,686,712 $12,544,967
CASHFLOWS FROM INVESTING ACTIVITIES:
Gross additions to plant $(15,064,861) $(7,864,434)
Allowance for borrowed funds used
during construction 230,172 81,165
Investments (7,995,226) (456,022)
Sale of unit coal trains 930,870 -
Other (134,522) 33,462
Net cash used in investing
activities ($22,033,567) $(8,205,829)
CASHFLOWS FROM FINANCING ACTIVITIES:
Notes payable $(6,300,000) $4,100,000
Long-term debt issued 20,000,000 -
Common stock purchased (50,153) (2,851,234)
Dividends paid (5,391,489) (5,344,171)
Net cash used in financing
activities $ 8,258,358 $(4,095,405)
NET INCREASE IN CASH AND
CASH EQUIVALENTS $ (88,497) $ 243,733
CASH AND CASH
EQUIVALENTS $ 407,392 $ 269,720
AT BEGINNING OF YEAR
CASH AND CASH EQUIVALENTS
AT END OF YEAR $ 318,895 $ 513,453
SUPPLEMENTAL DISCLOSURE OF CASH
FLOW INFORMATION:
Cash paid during year:
Interest $ 4,410,735 $ 3,215,734
Income taxes $ 2,297,000 $ 2,389,156
<FN>For purposes of the Statements of Cash Flows,
the Company considers all highly liquid debt
instruments purchased with an original maturity
of three months or less to be cash equivalents.
<FN> The accompanying Notes to Financial
Statements are an integral part of these statements.
</TABLE>
PAGE
<PAGE>
<TABLE>
ST. JOSEPH LIGHT & POWER COMPANY
STATEMENTS OF RETAINED EARNINGS
(Unaudited Interim Report)
<CAPTION> Three Months Ended
September 30
1995 1994
<C> <C>
<S>
Balance at beginning
of period $61,423,039 $59,593,787
Net Income 6,218,098 3,364,409
$67,641,137 $62,958,196
Dividends on common stock 3,593,859 3,522,456
Balance at end of period $64,047,278 $59,435,740
<CAPTION> Nine Months Ended
September 30
1995 1994
<C> <C>
<S>
Balance at beginning
of period $60,708,144 $56,745,217
Net Income 10,527,553 9,793,245
$71,235,697 $66,538,462
Dividends on common stock 7,188,419 7,102,722
Balance at end of period $64,047,278 $59,435,740
<CAPTION> Twelve Months Ended
September 30
1995 1994
<C> <C>
<S>
Balance at beginning
of period $59,435,740 $56,418,341
Net Income 11,799,957 10,120,118
$71,235,697 $66,538,459
Dividends on common stock 7,188,419 7,102,719
Balance at end of period $64,047,278 $59,435,740
<FN> The accompanying Notes to Financial Statements are an
integral part of these statements.
</TABLE>
<PAGE>
1. SIGNIFICANT ACCOUNTING POLICIES
The Company's interim financial statements have been
prepared in accordance with the accounting policies described in
the financial statements and related notes included in the
Company's 1994 Annual Report to Shareholders incorporated by
reference in the Company's Form 10-K Annual Report for 1994.
There are no significant differences in the Company's interim
and annual accounting policies. However, due to estimates
inherent in the accounting process for other than annual periods,
the accuracy of the amounts in the interim financial statements
is in some respects dependent upon facts that will exist and
reviews that will be performed by the Company later in the fiscal
year.
In March 1995, the Financial Accounting Standards Board
issued Statement of Financial Accounting Standards ("SFAS")
No. 121, "Accounting for the Impairment of Long-Lived Assets
and for Long-Lived Assets to be Disposed Of." Adoption of
SFAS No. 121 is required for fiscal years beginning after
December 15, 1995. The Company believes these costs will not
have a material impact on the Company's financial position or
results of operations.
2. RATE MATTERS
In February 1995, the Missouri Public Service Commission
(MPSC) approved a stipulated agreement regarding the
allocation of investments and expenses among the Company's
three business segments. Revenue-neutral to the Company, the
agreement will annually reduce industrial steam revenue by
$550,000 and increase electric and natural gas revenues by
$500,000 and $50,000, respectively. In addition electric rates
were restructured among the various customer classes. As a
result, summer rates will increase to reflect higher seasonal
production cost in the summer months, while winter rates will be
lowered. These revised tariffs were implemented on June 15,
1995.
<PAGE>
MANAGEMENT STATEMENT
The information contained in these financial statements
reflects all adjustments which are, in the opinion of management,
necessary to state fairly the results of the interim periods.
MANAGEMENT'S DISCUSSION AND ANALYSIS OF
FINANCIAL CONDITION
AND RESULTS OF OPERATIONS
GENERAL - The Company is a public utility engaged primarily
in the business of generating and distributing electric energy in
a ten-county area in Northwestern Missouri. It also sells natural
gas and industrial steam in limited areas.
RESULTS OF OPERATIONS -
Comparison of the quarters ended September 30, 1995 and 1994
Electric retail sales and other revenues increased
22.7%, for the quarter while sales increased 10.9%. The increase
in sales was primarily due to warmer than normal summer
temperatures. Also contributing to the growth in revenues was
the implementation of the June 15, 1995 rate agreement which
added approximately $2.4 million to quarterly revenues. Related
rate-design changes effectively increased summer rates to reflect
higher seasonal productions cost during the summer months of
June through September, while winter rates will be lowered.
Sales for resale and related purchased power expense
increased for the quarter reflecting the increased demands of
regional utilities.
Other operating revenues increased 2.0% due to
increased revenues in the industrial steam segment. While
industrial steam sales were relatively stable for the period,
revenues increased 3.3% reflecting a November 1994 industrial
steam price increase. Partially offsetting the increase was the
June 15, 1995 rate agreement.
System energy costs increased 2.8% while system
energy requirements increased 11.1%. Lower unit coal and gas
prices resulted in significant savings for the period. The
amortization of previously incurred ash disposal costs at the Lake
Road facility impacted costs for the previous period.
Other operations increased 9.5% reflecting an
adjustment to prior years' general and administrative cost at the
Iatan plant. In addition payroll and associated benefit charges
were higher for the period.
Maintenance expense decreased primarily due to boiler
maintenance at the Lake Road plant during the 1994 period.
The increase in income tax expense was primarily a
result of increased pre-tax earnings.
The growth in other income and deductions for the
quarter was primarily attributable to increased interest on
investments relating to available proceeds from the issuance of
$20 million of medium-term notes in March 1995.
Interest charges for the period were affected by the
March 1995 issuance of $20 million of medium-term notes.
Comparison of the nine months ended September 30, 1995 and
1994
For the first nine months electric retail sales and other
revenue increased 10.4%. Sales to all classes of customers posted
increases for the period, primarily the result of the warmer
summer weather. Also affecting revenue was a 3.1% rate
increase effective with a June 1994 rate agreement and a rate
design change implemented on June 15, 1995. The rate design
change effectively increased summer rates to reflect higher
seasonal production cost in the summer months, while winter
rates will be lowered.
Sales for resale and related purchased power expenses
decreased due to reduced transactions with regional utilities.
Other revenues decreased by 2.7% due to reductions
in the natural gas segment. Natural gas sales were down 6.8%
as industrial customers opted for transportation services instead
of tariff sales. Lower unit prices for gas, which is passed on to
the customer through the Purchased Gas Adjustment, also
impacted gas revenues for the period. Partially offsetting the
decrease were increased industrial steam revenues which reflect
a November 1994 price increase.
System energy cost decreased 6.5% while system energy
requirements increased 3.2% for the nine months ended. The
decrease in costs was primarily attributable to lower unit fuel
and purchased power prices and the amortization of ash disposal
costs at the Lake Road plant in the 1994 period.
Decreased costs of gas purchased for resale resulted
from reduced sales and lower unit prices.
Other operations expense increased for the nine
months ended primarily as a result of the June 1994 rate case
order which changed the Company's accounting for pension
expense. The order mandated a one-time adjustment which
reduced pension expense by $5.9 million.
Maintenance expense increased primarily due to a
scheduled overhaul of a boiler and turbine at the Lake Road
plant.
Income taxes decreased for the nine months ended
period primarily as a result of the June 1994 electric rate case
decision that resulted in a one-time adjustment of $2.6 million.
Partially offsetting the adjustment was an increase in pre-tax
income.
Other income increased primarily due to a gain on the
sale of unit coal train at the Iatan plant. The net of tax gain from
the sale was approximately $.5 million. Gains on the sale of
securities and increased interest on investments also contributed
to the increase.
Interest charges for the nine months ended period was
impacted by the issuance of $20 million of medium-term notes
in March 1995.
<PAGE>
Comparison of the twelve months ended September 30, 1995 and
1994
Electric retail sales and other revenue increased 8.5%
for the period. The increase in unit sales of 2.1% was primarily
attributable to warmer than normal summer temperatures which
resulted in a greater number of cooling degree days boosting air-
conditioning use. Also affecting revenue was a 3.1% rate increase
effective with a June 1994 rate agreement and a rate design
change implemented on June 15, 1995. The rate design change
effectively increased summer rates to reflect higher seasonal
production cost in the summer months, while winter rates will be
lowered.
Sales for resale and related purchased power expense
decreased due to reduced transactions with regional utilities.
Other revenues decreased by 7.8% due to reductions
in the natural gas segment . Natural gas sales were down 10.8%
due to more moderate temperatures reducing residential heating
requirements and more industrial customers using transportation
services. Lower unit prices for gas, which is passed on to the
customer through the Purchased Gas Adjustment, also impacted
gas revenues for the period. Partially offsetting the increase were
increased industrial steam revenues which reflect a November
1994 price increase.
System energy cost decreased 11.6% for the twelve
months ended period primarily due to reduced unit fuel cost and
increased use of the Iatan plant, the Company's most efficient
unit. This unit had limited availability during the fall of 1993.
The additional generation reduced the need for more expensive
purchased power.
The decrease in gas purchased for resale is a result of
reduced sales and lower unit prices.
Other operations expense increased for the period
primarily as a result of the June 1994 rate case order which
required a one-time adjustment to the pension expense of $5.9
million. The reduction in regulatory expenses associated with
the case partially offset the increase.
Maintenance expense increased 26.6%, primarily due
to scheduled maintenance at the Lake Road plant. Partially
offsetting the increase was reduced maintenance requirements at
the Iatan plant.
Income tax expense increased primarily as a result of
higher pre-tax income. Partially offsetting the increase was the
tax effect of the June rate order which increased associated
income tax expense by $2.6 million.
The increase in other income was primarily attributable
to the gain on the sale of the unit coal trains. The net of tax
gain from the sale was approximately $.5 million.
Interest charges increased primarily as a result of
increased short-term borrowings and the issuance of $20 million
of medium-term notes in March 1995.
<PAGE>
LIQUIDITY AND CAPITAL RESOURCES - At September
30, 1995, the Company had $10.0 million in cash and temporary
investments and $1.6 million in other investments. The Company
has $16.0 million in unused lines of credit. Financial coverages
are at levels in excess of those required for issuance of debt and
preferred stock.
The Company's short-term construction program (net
of Allowance for Funds Used During Construction) is currently
projected at $20.6 million for 1995 and about $113.6 million
during the next five years. Construction requirements will be met
with a combination of internally generated funds and external
financing.
PART II
ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K
a. Exhibit 27 - Financial Data Schedule
b. No Form 8-K Current Report was filed during the quarter
ended September 30, 1995.
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on
its behalf by the undersigned thereunto duly authorized.
ST. JOSEPH LIGHT & POWER COMPANY
(Registrant)
Dated: November 14, 1995
L. J. STOLL
Vice President-Finance, Treasurer
and Assistant Secretary
(Duly Authorized Officer)
<TABLE> <S> <C>
<ARTICLE> UT
<CIK> 0000086251
<NAME> ST. JOSEPH LIGHT & POWER COMPANY
<S> <C>
<PERIOD-TYPE> 9-MOS
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-END> SEP-30-1995
<BOOK-VALUE> PER-BOOK
<TOTAL-NET-UTILITY-PLANT> 155951173
<OTHER-PROPERTY-AND-INVEST> 1638862
<TOTAL-CURRENT-ASSETS> 34343258
<TOTAL-DEFERRED-CHARGES> 28086656
<OTHER-ASSETS> 0
<TOTAL-ASSETS> 220019949
<COMMON> 16453201
<CAPITAL-SURPLUS-PAID-IN> 380148
<RETAINED-EARNINGS> 64047278
<TOTAL-COMMON-STOCKHOLDERS-EQ> 80880627
0
0
<LONG-TERM-DEBT-NET> 73100000
<SHORT-TERM-NOTES> 0
<LONG-TERM-NOTES-PAYABLE> 0
<COMMERCIAL-PAPER-OBLIGATIONS> 0
<LONG-TERM-DEBT-CURRENT-PORT> 0
0
<CAPITAL-LEASE-OBLIGATIONS> 2515765
<LEASES-CURRENT> 0
<OTHER-ITEMS-CAPITAL-AND-LIAB> 63523557
<TOT-CAPITALIZATION-AND-LIAB> 220019949
<GROSS-OPERATING-REVENUE> 72967270
<INCOME-TAX-EXPENSE> 4576881
<OTHER-OPERATING-EXPENSES> 54460816
<TOTAL-OPERATING-EXPENSES> 59037697
<OPERATING-INCOME-LOSS> 13929573
<OTHER-INCOME-NET> 694729
<INCOME-BEFORE-INTEREST-EXPEN> 14624302
<TOTAL-INTEREST-EXPENSE> 4096749
<NET-INCOME> 10527553
0
<EARNINGS-AVAILABLE-FOR-COMM> 10527553
<COMMON-STOCK-DIVIDENDS> 7188419
<TOTAL-INTEREST-ON-BONDS> 5161649
<CASH-FLOW-OPERATIONS> 13686712
<EPS-PRIMARY> 2.69
<EPS-DILUTED> 2.69
</TABLE>
