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Previous: ALKERMES INC, S-3, 2000-02-29 |
Next: LAZARD FUNDS INC, NSAR-B, 2000-02-29 |
<PAGE>
UNITED STATES OF AMERICA
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
The AES Corporation ) File No. 70-9465
Certificate Pursuant to Rule 24 and Release No. 35-27063
Under the Public Utility Holding Company Act of 1935
On August 20, 1999, the Securities and Exchange Commission
("SEC") issued an order in this proceeding, Release No. 35-27063 in File No.
70-9465 ("Exemption Order") granting an exemption under Section 3(a)(5) of the
Public Utility Holding Company Act of 1935, as amended, ("the Act") to The AES
Corporation ("AES") in relation to its proposed acquisition of CILCORP Inc.
("CILCORP"), which has a public-utility subsidiary company, Central Illinois
Light Company ("CILCO"). The Exemption Order required AES to file certain
certificates (as described in the Exemption Order) under rule 24 within 60 days
of the closing of each calendar quarter for a period of three years beginning
September 30, 1999 and every six months thereafter. The acquisition of CILCORP
by AES occurred on October 18, 1999 (as previously noticed to the Commission on
October 28, 1999). Accordingly, this is AES' first filing pursuant to the
Exemption Order. The requested certificate is set forth below (as an attachment)
for the period ending December 31, 1999.
Respectfully submitted,
/s/ Earle H. O'Donnell
-------------------------------------
Earle H. O'Donnell, Esq.
Donna M. Attanasio, Esq.
Dewey Ballantine LLP
1775 Pennsylvania Avenue, NW
Washington, D.C. 20006
Dated: February 29, 2000
<PAGE>
THE AES CORPORATION
SEC FILING PURSUANT TO SECTION 3(a)(5) EXEMPTION ORDER
QUARTER ENDED DECEMBER 31, 1999
ITEM (1) PER EXEMPTION ORDER (STATEMENTS ATTACHED):
1) Statement of Income of The AES Corporation for the 12 months ended
December 31, 1999:
a) 12 months ended December 31, 1999 pro rata consolidated income
statement
b) 12 months ended December 31, 1999 GAAP consolidated income
statement
2) Balance Sheet of The AES Corporation at December 31, 1999
a) GAAP Basis Consolidated Balance Sheet
b) Pro Rata Consolidated Balance Sheet
3) Statement of Income of CILCORP for the 12 months ended December 31,
1999
4) Statement of Income of CILCO for the 12 months ended December 31, 1999
5) Consolidated Balance Sheet of CILCORP at December 31, 1999
6) Consolidated Balance Sheet of CILCO at December 31, 1999
<PAGE>
THE AES CORPORATION
CONSOLIDATED STATEMENT OF OPERATIONS - PRORATA
FOR THE PERIOD ENDED DECEMBER 31, 1999
<TABLE>
<CAPTION>
- --------------------------------------------------------
Twelve
Months %
ENDED OF
12/31/99 SALES
- --------------------------------------------------------
($ in millions,
except per
share amounts)
<S> <C> <C>
REVENUES:
Sales and services $ 4,309 100%
OPERATING COSTS
AND EXPENSES:
Cost of sales
and services 2,977 69%
Selling, general and
administrative
expenses 71 2%
Provision to reduce
contract receivables 6 -
-----------
TOTAL OPERATING COSTS
AND EXPENSES 3,053 71%
-----------
OPERATING INCOME 1,256 29%
OTHER INCOME AND
(EXPENSE):
Interest expense (817) -19%
Interest and other
income 176 3%
Foreign currency
transaction gain (loss) (195) -
INCOME BEFORE
INCOME TAXES
AND MINORITY
INTEREST 420 10%
Income tax provision 111 3%
Minority interest 64 1%
-----------
INCOME BEFORE
EXTRAORDINARY ITEM 245 6%
Extraordinary item, net of tax -
Early extinguishment of debt (17) 0%
-----------
NET INCOME $ 228 5%
===========
</TABLE>
<PAGE>
THE AES CORPORATION
CONSOLIDATED STATEMENT OF OPERATIONS
FOR THE PERIOD ENDED DECEMBER 31, 1999
<TABLE>
<CAPTION>
- ----------------------------------------------------------------
Twelve
Months %
Ended OF
12/31/99 SALES
- ----------------------------------------------------------------
($ in millions,
except per
share amounts)
<S> <C> <C> <C>
REVENUES:
Sales and services $ 3,253 100%
OPERATING COSTS
AND EXPENSES:
Cost of sales
and services 2,249 69%
Selling, general and
administrative
expenses 71 2%
Provision to reduce
contract receivables 8 -
-----------
TOTAL OPERATING COSTS
AND EXPENSES 2,328 71%
-----------
OPERATING INCOME 925 29%
OTHER INCOME AND
(EXPENSE):
Interest expense (641) -20%
Interest and other
income 106 2%
Foreign currency
transaction gain (loss) 9 -
Equity in earnings of
affiliates (before
income tax):
Earnings of
affiliates $ 224
Foreign currency
transaction
loss (203)
----------
Total 21 21 1%
-----------
INCOME BEFORE
INCOME TAXES
AND MINORITY
INTEREST 420 13%
Income tax provision 111 3%
Minority interest 64 2%
-----------
INCOME BEFORE
EXTRAORDINARY ITEM 245 8%
Extraordinary item, net of tax -
Early extinguishment of debt (17) -1%
-----------
NET INCOME $ 228 7%
===========
</TABLE>
<PAGE>
The AES Corporation
GAAP Consolidated Balance Sheet
December 31, 1999
<TABLE>
<CAPTION>
31-Dec-99
-----------
($ in millions)
<S> <C>
ASSETS
CURRENT ASSETS
Cash and cash equivalents 750
Short-term investments 27
Accounts receivable, net 858
Intercompany receivable 0
Inventory 315
Receivable from affiliates 0
Deferred income taxes 385
Prepaid expenses and other current assets 322
-----------
TOTAL CURRENT ASSETS 2,657
PROPERTY, PLANT AND EQUIPMENT
Land 219
Electric generation and distribution assets 13,130
Accumulated depreciation and amortization (750)
Construction in progress 1,517
-----------
PROPERTY, PLANT AND EQUIPMENT, NET 14,115
OTHER ASSETS
Deferred financing costs 333
Accumulated amortization (98)
Project development costs 65
Investments in and advances to affiliates 1,570
Debt service reserves and other deposits 347
Electricity sales concessions and contracts 1,061
Goodwill 802
Other assets 892
Balancing Account 0
-----------
TOTAL OTHER ASSETS 4,972
===========
TOTAL 21,744
===========
LIABILITIES & STOCKHOLDERS' EQUITY
CURRENT LIABILITIES
Accounts payable 378
Intercompany payable 0
Accrued interest 269
Accrued and other liabilities 656
Other notes payable - current portion 336
Project financing debt - current portion 508
-----------
TOTAL CURRENT LIABILITIES 2,145
LONG-TERM LIABILITIES
Project financing debt 9,358
Other notes payable 2,417
Intercompany loans 0
Deferred incomes taxes 2,173
Other long-term liabilities 641
-----------
TOTAL LONG-TERM LIABILITIES 14,589
Minority interest 1,340
TECONS 1,068
Preferred Stocks 66
STOCKHOLDERS' EQUITY
Common Stock 2
Contributed capital / Additional paid in capital2,602
Retained earnings 892
Net income (Loss) 229
Accumulated other comprehensive loss (1,189)
-----------
TOTAL STOCKHOLDERS' EQUITY 2,536
===========
TOTAL 21,744
===========
</TABLE>
<PAGE>
THE AES CORPORATION
PRORATA CONSOLIDATED BALANCE SHEET
DECEMBER 31, 1999
(UNAUDITED)
<TABLE>
<CAPTION>
December 31,
1999
---------------------
($ in millions)
<S> <C>
ASSETS
Current Assets
Cash and cash equivalents 752
Short-term investments 27
Accounts receivable, net 894
Inventory 315
Deferred income taxes 442
Prepaid expenses and other current assets 558
---------------------
Total current assets 2,988
Property, Plant and Equipment
Land 219
Electric generation and distribution assets 13,156
Accumulated depreciation and amortization -755
Construction in progress 1,589
---------------------
Property, plant and equipment, net 14,209
Other Assets
Deferred financing costs, net 246
Project development costs 81
Investments in and advances to affiliates 2,008
Debt service reserves and other deposits 401
Electricity sales concessions and contracts 1,087
Goodwill 795
Other assets 944
---------------------
Total other assets 5,562
=====================
Total 22,759
=====================
LIABILITIES & STOCKHOLDERS' EQUITY
Current Liabilities
Accounts payable 857
Accrued interest 302
Accrued and other liabilities 672
Other notes payable - current portion 336
Project financing debt - current portion 511
---------------------
Total current liabilities 2,678
Long-Term Liabilities
Project financing debt 9,224
Other notes payable 2,420
Deferred incomes taxes 2,187
Other long-term liabilities 655
---------------------
Total long-term liabilities 14,486
Minority interest 1,209
TECONS 1,068
Preferred Stock 66
Stockholders' Equity
Common Stock 2
Additional paid in capital 6,802
Retained earnings 1,067
Accumulated other comprehensive loss -4,619
---------------------
Total stockholders' equity 3,252
=====================
Total 22,759
=====================
</TABLE>
<PAGE>
Consolidated Statements of Income
CILCORP Inc. and Subsidiaries
<TABLE>
<CAPTION>
Twelve Months Ended
12/31/99
<S> <C>
Revenue:
Electric Utility $ 372,714
Gas Utility 180,760
Other businesses 27,376
--------------
Total 580,850
--------------
Operating expenses:
Fuel for generation and purchased power 137,999
Gas purchased for resale 112,315
Other operations and maintenance 178,610
Depreciation and amortization 70,246
Taxes, other than income taxes 40,308
--------------
Total 539,478
--------------
Fixed charges and other:
Interest expense 36,968
Preferred stock dividends of subsidiary 3,208
Allowance for funds used during construction (158)
Other 1,037
--------------
Total 41,055
--------------
Income from continuing operations before
income taxes 317
Income taxes 162
--------------
Net income (loss) from continuing operations 155
Income (Loss) from operations of discontinued
business, net of taxes (620)
Extraordinary Item
--------------
Net income (loss) before minority interest (465)
Minority Interest -
--------------
Net income (loss) (465)
Other comprehensive income -
--------------
Comprehensive income (loss) $ (465)
==============
</TABLE>
<PAGE>
Central Illinois Light Company
Consolidated Statements of Income
<TABLE>
<CAPTION>
For the Years Ended December 31 1999
(In thousands)
<S> <C>
Operating Revenues:
Electric $372,714
Gas 180,760
--------
Total Operating Revenues 553,474
--------
Operating Expenses:
Cost of Fuel 77,748
Cost of Gas 99,293
Purchased Power 60,251
Other Operations and Maintenance 153,885
Depreciation and Amortization 66,686
Income Taxes 11,276
State and Local Taxes on Revenue 26,930
Other Taxes 13,335
--------
Total Operating Expenses 509,404
--------
Operating Income 44,070
--------
Other Income and Deductions:
Cost of Equity Funds Capitalized --
CILCO-owned Life Insurance, Net (1,037)
Other, Net (558)
--------
Total Other Income and (Deductions) (1,595)
--------
Income Before Interest Expenses 42,475
--------
Interest Expenses:
Interest on Long-term Debt 19,234
Cost of Borrowed Funds Capitalized (158)
Other 4,150
--------
Total Interest Expenses 23,226
--------
Net Income Before Extraordinary Item and
Preferred Dividends 19,249
Extraordinary Item --
--------
Net Income Before Preferred Dividends 19,249
Dividends on Preferred Stock 3,208
--------
Net Income Available for Common Stock $ 16,041
--------
Other Comprehensive Income 785
Comprehensive Income $ 16,826
========
</TABLE>
<PAGE>
Consolidated Balance Sheets
CILCORP Inc. and Subsidiaries
<TABLE>
<CAPTION>
Assets (As of December 31) 1999
(In thousands)
<S> <C>
Current Assets:
Cash and Temporary Cash Investments $ 11,220
Receivables, Less Reserves of $1,296 and $3,411 60,072
Accrued Unbilled Revenue 35,526
Fuel, at Average Cost 14,392
Materials and Supplies, at Average Cost 16,165
Gas in Underground Storage, at Average Cost 21,196
Prepayments and Other 20,970
----------
Total Current Assets 179,541
----------
Investments and Other Property:
Investment in Leveraged Leases 143,697
Other Investments 27,219
----------
Total Investments and Other Property 170,916
----------
Property, Plant and Equipment:
Utility Plant, at Original Cost
Electric 624,889
Gas 208,520
----------
833,409
Less-Accumulated Provision for Depreciation 8,898
----------
824,511
Construction Work in Progress 38,068
Other, Net of Depreciation 298
----------
Total Property, Plant and Equipment 862,877
----------
Other Assets:
Goodwill, Net of Accumulated Amortization
of $2,881 569,983
Other 47,636
----------
Total Other Assets 617,619
----------
Total Assets $1,830,953
==========
</TABLE>
<PAGE>
Consolidated Balance Sheets
CILCORP Inc. and Subsidiaries
<TABLE>
<CAPTION>
Liabilities and Stockholders' Equity (As of December 31) 1999
(In thousands)
<S> <C>
Current Liabilities:
Current Portion of Long-Term Debt $ 30,000
Notes Payable 91,900
Accounts Payable 41,429
Accrued Taxes 14,670
Accrued Interest 18,296
FCA/PGA Over-Recoveries 127
Other 5,742
----------
Total Current Liabilities 202,164
----------
Long-Term Debt 731,760
----------
Deferred Credits and Other Liabilities:
Deferred Income Taxes 237,557
Regulatory Liability of Regulated Subsidiary 31,367
Deferred Investment Tax Credit 17,791
Other 76,106
----------
Total Deferred Credits 362,821
----------
Preferred Stock of Subsidiary 66,120
----------
Stockholders' Equity:
Common Stock, no par value; Authorized 10,000
and 50,000,000 shares - Outstanding 1,000
and 13,610,680 shares --
Additional Paid in Capital 468,833
Retained Earnings (745)
Accumulated Other Comprehensive Income --
----------
Total Stockholders' Equity 468,088
----------
Total Liabilities and Stockholders' Equity $1,830,953
==========
</TABLE>
<PAGE>
Central Illinois Light Company
Consolidated Balance Sheets
Assets
<TABLE>
<CAPTION>
As of December 31 1999
(In thousands)
<S> <C>
Utility Plant, At Original Cost:
Electric $1,263,190
Gas 431,887
----------
1,695,077
Less-Accumulated Provision for Depreciation 870,566
----------
824,511
Construction Work in Progress 38,068
Plant Acquisition Adjustments, Net of
Amortization --
----------
Total Utility Plant 862,579
----------
Other Property and Investments:
Cash Surrender Value of Company-owned Life
Insurance (Net of Related Policy Loans of
$53,558 in 1999 and $48,132 in 1998) 3,106
Other 1,179
----------
Total Other Property and Investments 4,285
----------
Current Assets:
Cash and Temporary Cash Investments 8,548
Receivables, Less Reserves of $1,296 and $1,106 42,410
Accrued Unbilled Revenue 35,071
Fuel, at Average Cost 14,392
Materials and Supplies, at Average Cost 15,967
Gas in Underground Storage, at Average Cost 21,196
Prepaid Taxes 6,165
Other 20,878
----------
Total Current Assets 164,627
----------
Deferred Debits:
Unamortized Loss on Reacquired Debt 2,941
Unamortized Debt Expense 1,552
Prepaid Pension Cost 259
Other 20,037
----------
Total Deferred Debits 24,789
----------
Total Assets $1,056,280
==========
</TABLE>
<PAGE>
Central Illinois Light Company
Consolidated Balance Sheets
Capitalization and Liabilities
<TABLE>
<CAPTION>
As of December 31 1999
(In thousands)
<S> <C>
Capitalization:
Common Shareholder's Equity:
Common Stock, No Par Value; Authorized
20,000,000 Shares; Outstanding
13,563,871 Shares $ 185,661
Additional Paid in Capital 27,000
Retained Earnings 121,564
Accumulated Other Comprehensive Income (60)
----------
Total Common Shareholder's Equity 334,165
Preferred Stock Without Mandatory Redemption 44,120
Preferred Stock With Mandatory Redemption 22,000
Long-term Debt 237,934
----------
Total Capitalization 638,219
----------
Current Liabilities:
Current Maturities of Long-Term Debt 30,000
Notes Payable 46,900
Accounts Payable 35,859
Accrued Taxes 25,520
Accrued Interest 9,485
PGA Over-Recoveries 127
Level Payment Plan 956
Other 4,714
----------
Total Current Liabilities 153,561
----------
Deferred Liabilities and Credits:
Accumulated Deferred Income Taxes 136,077
Regulatory Liability 31,367
Investment Tax Credits 17,792
Capital Lease Obligation 1,183
Other 78,081
----------
Total Deferred Liabilities and Credits 264,500
----------
Total Capitalization and Liabilities $1,056,280
==========
</TABLE>
The accompanying Notes to the Consolidated Financial Statements are an integral
part of these balance sheets.
<PAGE>
ITEM (2) PER EXEMPTION ORDER (INCOME STATEMENT AMOUNTS ARE 12 MONTHS ENDED):
CILCO/CILCORP CONTRIBUTIONS TO
AES/CILCORP CONSOLIDATED HOLDING COMPANY
(GAAP BASIS)
($MM)
<TABLE>
<CAPTION>
---------------------------------------------------- ------------------------
12 MOS. 12/31/99
---------------------------------------------------- ------------------------
<S> <C>
GROSS REVENUES %-CILCO 15.14%
CILCO 562
AES 3,253
AES/CILCORP 3,713
---------------------------------------------------- ------------------------
GROSS REVENUES %-CILCORP 15.65%
CILCORP (Including CILCO) 581
AES 3,253
AES/CILCORP 3,713
---------------------------------------------------- ------------------------
NET OPERATING REVENUES %-CILCO 12.69%
CILCO 376
AES 2,655
AES/CILCORP 2,962
---------------------------------------------------- ------------------------
NET OPERATING REVENUES %-CILCORP 13.64%
CILCORP (Including CILCO) 404
AES 2,655
AES/CILCORP 2,962
---------------------------------------------------- ------------------------
OPERATING INCOME %-CILCO 5.78%
CILCO 55
AES 925
AES/CILCORP 952
---------------------------------------------------- ------------------------
OPERATING INCOME %-CILCORP 4.30%
CILCORP (Including CILCO) 41
AES 925
AES/CILCORP 952
---------------------------------------------------- ------------------------
NET INCOME %-CILCO 6.99%
CILCO 16
AES 228
AES/CILCORP 229
---------------------------------------------------- ------------------------
NET INCOME %-CILCORP -.44%
CILCORP (Including CILCO) (1)
AES 228
AES/CILCORP 229
---------------------------------------------------- ------------------------
NET ASSETS %-CILCO 4.86%
CILCO 1,056
AES 21,744
AES/CILCORP 21,744
---------------------------------------------------- ------------------------
NET ASSETS %-CILCORP 8.42%
CILCORP (Including CILCO) 1,831
AES 21,744
AES/CILCORP 21,744
---------------------------------------------------- ------------------------
</TABLE>
<PAGE>
CILCO/CILCORP CONTRIBUTIONS TO
AES/CILCORP CONSOLIDATED HOLDING COMPANY
(PRO RATA CONSOLIDATION BASIS)
($MM)
<TABLE>
<CAPTION>
---------------------------------------------------- ------------------------
12 MOS. 12/31/99
---------------------------------------------------- ------------------------
<S> <C>
GROSS REVENUES %-CILCO 11.78%
CILCO 562
AES 4,309
AES/CILCORP 4,769
---------------------------------------------------- ------------------------
GROSS REVENUES %-CILCORP 12.18%
CILCORP (Including CILCO) 581
AES 4,309
AES/CILCORP 4,769
---------------------------------------------------- ------------------------
NET OPERATING REVENUES %-CILCO 9.49%
CILCO 376
AES 3,656
AES/CILCORP 3,963
---------------------------------------------------- ------------------------
NET OPERATING REVENUES %-CILCORP 10.19%
CILCORP (Including CILCO) 404
AES 3,656
AES/CILCORP 3,963
---------------------------------------------------- ------------------------
OPERATING INCOME %-CILCO 4.29%
CILCO 55
AES 1,256
AES/CILCORP 1,283
---------------------------------------------------- ------------------------
OPERATING INCOME %-CILCORP 3.20%
CILCORP (Including CILCO) 41
AES 1,256
AES/CILCORP 1,283
---------------------------------------------------- ------------------------
NET INCOME %-CILCO 6.99%
CILCO 16
AES 228
AES/CILCORP 229
---------------------------------------------------- ------------------------
NET INCOME %-CILCORP -.44%
CILCORP (Including CILCO) (1)
AES 228
AES/CILCORP 229
---------------------------------------------------- ------------------------
NET ASSETS %-CILCO 4.64%
CILCO 1,056
AES 22,759
AES/CILCORP 22,759
---------------------------------------------------- ------------------------
NET ASSETS %-CILCORP 8.05%
CILCORP (Including CILCO) 1,831
AES 22,759
AES/CILCORP 22,759
---------------------------------------------------- ------------------------
</TABLE>
<PAGE>
ITEM (3) PER EXEMPTION ORDER - GENERATION INFORMATION:
AES Generating Plants in Operation at December 31, 1999 (excluding CILCO):
<TABLE>
<CAPTION>
AES AES
Capacity Interest Equity Regulatory
UNIT Country (MW) (%) (MW) Status
---- ------- ---- --- ------
<S> <C> <C> <C> <C> <C>
AES Deepwater USA 143 100.00 143.00 QF
AES Beaver Valley USA 125 100.00 125.00 QF
AES Placerita USA 120 100.00 120.00 QF
AES Thames USA 181 100.00 181.00 QF
AES Shady Point USA 320 100.00 320.00 QF
AES Hawaii USA 180 100.00 180.00 QF
AES Warrior Run USA 180 100.00 180.00 QF
AES Eastern Energy (6 plants) USA 1,437 100.00 1437.00 EWG
AES Alamitos USA 2,083 100.00 2,083.00 EWG
AES Redondo Beach USA 1,310 100.00 1,310.00 EWG
AES Huntington Beach USA 563 100.00 563.00 EWG
AES Kingston Canada 110 50.00 55.00 EWG
AES San Nicholas Argentina 650 69.00 448.50 EWG
AES Cabra Corral Argentina 102 98.00 99.96 FUCO
AES El Tunal Argentina 10 98.00 9.80 FUCO
AES Sarmiento Argentina 33 98.00 32.34 FUCO
AES Ullum Argentina 45 98.00 44.10 FUCO
AES Quebrada Argentina 45 100.00 45.00 FUCO
Fontes Nova-Light Brazil 144 13.75 19.80 FUCO
Ilha dos Pombos - Light Brazil 164 13.75 22.55 FUCO
Nilo Pecanha - Light Brazil 380 13.75 52.25 FUCO
Pereira Passos - Light Brazil 100 13.75 13.75 FUCO
CEMIG (37 plants) Brazil 5,668 20.96* 1,188.14 FUCO
EGE Bayano Panama 192 49.00 94.08 FUCO
EGE Chiriqui Panama 90 49.00 44.10 FUCO
AES Los Mina Dom. Rep. 210 100.00 210.00 EWG
ECOGEN (2 plants) Australia 966 100.00 966.00 FUCO
AES Mt. Stuart Australia 288 100.00 288.00 FUCO
AES Xiangci - Cili China 26 51.00 13.26 FUCO
AES Wuxi China 63 55.00 34.65 FUCO
Wuhu China 250 25.00 62.50 FUCO
Yangchun China 15 25.00 3.75 FUCO
Chengdu Lotus City China 48 35.00 16.80 FUCO
AES Jiaozou China 250 70.00 175.00 FUCO
AES Hefei China 115 70.00 80.50 FUCO
AES Fuling Aixi Kazakhstan 50 70.00 35.00 FUCO
AES Ekibastuz Kazakhstan 4,000 70.00 2,800.00 FUCO
AES Ust-Kamenogorsk GES Kazakhstan 332 85.00 282.20 FUCO
AES Shulbinsk GES Kazakhstan 702 85.00 596.70 FUCO
AES Ust-Kamenogorsk TETS Kazakhstan 240 85.00 204.00 FUCO
AES Leninogorsk TETS Kazakhstan 50 85.00 42.50 FUCO
AES Sogrinsk TETS Kazakhstan 50 85.00 42.50 FUCO
AES Semiplatinsk TETS Kazakhstan 10 85.00 8.50 FUCO
OPGC India 420 49.00 205.80 FUCO
AES Lal Pir Pakistan 351 90.00 315.90 FUCO
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C> <C> <C> <C>
AES Pak Gen Pakistan 344 90.00 309.60 FUCO
AES Borsod Hungary 171 96.00 164.16 FUCO
AES Tisza II Hungary 860 96.00 825.60 FUCO
AES Tiszapalkonya Hungary 250 96.00 240.00 FUCO
AES Elsta Netherlands 405 50.00 202.50 FUCO
Medway U.K. 688 25.00 172.00 FUCO
AES Indian Queens U.K. 140 100.00 140.00 EWG
Kilroot U.K. 520 47.00 244.40 FUCO
Belfast West U.K. 240 47.00 112.80 FUCO
AES Barry U.K. 230 100.00 230.00 FUCO
AES Drax Power Ltd. U.K. 3960 100.00 3960 FUCO
AES Tiete (10 plants) Brazil 2644 39.00 1031 FUCO
TOTAL - December 31, 1999 33,263 23056.99
Pct. Of Foreign Generation 80.03% 71.20%
* CEMIG owns 21.648% of 36 plants accounting for 5,458 MW and 3.14% of 1 plant accounting for 210 MW.
</TABLE>
CILCO Generating Plants at December 31, 1999:
<TABLE>
<CAPTION>
AES AES Equity
Capacity Interest (MW) Regulatory
UNIT COUNTRY (MW) (%) STATUS
---- ------- ---- --- ------
<S> <C> <C> <C> <C>
Edwards (3 units) USA 740 100.00 740 IL PUC
Duck Creek USA 366 100.00 366 IL PUC
Indian Trails USA 16 100.00 16 IL PUC
Sterling Avenue USA 30 100.00 30 IL PUC
-- --
TOTAL - December 31, 1999 1,152 1,152
</TABLE>
Revenues from generation capacity - 12 months ended December 31, 1999:
<TABLE>
<CAPTION>
($MM)
<S> <C> <C>
CILCO 149 6%
AES (excluding CILCO) 2,210 94%
----- ---
Total 2,359 100%
</TABLE>
CILCO's electric revenues are allocated between electric generation and electric
distribution activities according to utility rate base. AES generation revenues
are derived from the total generation revenues earned by AES subsidiaries times
the percentage ownership interest of AES in those subsidiaries.
As this is the first certificate filed by AES in response to the Exemption
Order, the requirement to report changes during the period since the last report
is not applicable. Changes will be reported on a going-forward basis.
<PAGE>
ITEM (4) PER EXEMPTION ORDER - ELECTRIC AND GAS DISTRIBUTION:
<TABLE>
<CAPTION>
($MM)
<S> <C>
CILCO elec/gas transmission/distribution assets at December 31, 1999 755
Total AES (excl CILCO) electric distr. assets at December 31, 1999 4,921
Total transmission and distribution assets 5,676
CILCO elec/gas transm/distr revenues - 12 mos. December 31, 1999 404
AES (excl CILCO) electric distr. revenues - 12 mos. December 31, 1999 1,978
-----
Total electric/gas transm/distr. revenues 2,382
</TABLE>
CILCO's electric revenues are allocated between electric generation and electric
distribution activities according to utility rate base. AES distribution
revenues are derived from the total distribution revenues earned by AES
subsidiaries times the percentage ownership interest of AES in those
subsidiaries.
As this is the first certificate filed by AES in response to the SEC's Exemption
Order, the requirement to report changes during the period since the last report
is not applicable. Changes will be reported on a going-forward basis.
ITEM (5) PER EXEMPTION ORDER:
CILCO has not sold or transferred any electric and/or gas utility assets to any
affiliate company of the AES consolidated holding company system.
ITEM (6) PER EXEMPTION ORDER:
No application has been made to nor has any order been received from the
Illinois Commerce Commission that involves AES' ownership position of AES
oversight over the operations of CILCO or CILCORP.
<PAGE>
SIGNATURE
Pursuant to the requirements of the Public Utility Holding
Company Act of 1935, as amended, AES has duly caused this certificate to be
signed on its behalf on this 29th day of February, 2000 by the undersigned
thereunto duly authorized.
The AES Corporation
By: /s/ William R. Luraschi
-----------------------------
William R. Luraschi
General Counsel and Secretary
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