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Previous: INSURED MUNICIPALS INC TR & INV QUAL TAX EX TR MULTI SER 147, 24F-2NT, 2000-05-31 |
Next: MURDOCK DAVID H, SC TO-I, SC TO-T, 2000-05-31 |
<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) 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 close of each calendar quarter for a period of three years beginning
September 30, 1999 and every six months thereafter. The requested certificate is
set forth below (as an attachment) for the period ending March 31, 2000.
Respectfully submitted,
/s/ Earle H. O'Donnell
--------------------------
Earle H. O'Donnell
Julia Dryden English
Andrew B. Young
Dewey Ballantine LLP
1775 Pennsylvania Avenue, NW
Washington, D.C. 20006
Dated: May 30, 2000
<PAGE>
THE AES CORPORATION
SEC FILING PURSUANT TO SECTION 3(A)(5) EXEMPTION ORDER
QUARTER ENDED MARCH 31, 2000
ITEM (1) PER EXEMPTION ORDER (STATEMENTS ATTACHED):
1) Statement of Income of The AES Corporation for the 12 months ended
March 31, 2000:
a) 12 months ended March 31, 2000 GAAP consolidated income
statement
b) 12 months ended March 31, 2000 pro rata consolidated income
statement
2) Balance Sheet of The AES Corporation at March 31, 2000
a) GAAP Basis Consolidated Balance Sheet
b) Pro Rata Consolidated Balance Sheet
3) Statement of Income CILCORP Inc. for the 12 months ended March 31, 2000
4) Statement of Income CILCO for the 12 months ended March 31, 2000
5) Consolidated Balance Sheet of CILCORP Inc. at March 31, 2000
6) Consolidated Balance Sheet of CILCO at March 31, 2000
<PAGE>
THE AES CORPORATION
CONSOLIDATED STATEMENT OF OPERATIONS
FOR THE TWELVE MONTHS ENDED MARCH 31, 2000 - GAAP BASIS
<TABLE>
<CAPTION>
-----------------------------------------------------------
TWELVE
MONTHS %
ENDED OF
3/31/00 SALES
-----------------------------------------------------------
($ in millions,
except per
share amounts)
<S> <C> <C>
REVENUES:
Sales and services $ 4,091 100%
OPERATING COSTS
AND EXPENSES:
Cost of sales
and services 2,885 71%
Selling, general and
administrative
expenses 84 2%
Provision to reduce
contract receivables 11 -
--------------
TOTAL OPERATING COSTS
AND EXPENSES 2,980 73%
--------------
OPERATING INCOME 1,111 27%
OTHER INCOME AND
(EXPENSE):
Interest expense (777) -19%
Interest and other
income 123 2%
Foreign currency
transaction gain (loss) 4 -
Equity in earnings of
affiliates (before
income tax) 230 6%
INCOME BEFORE
INCOME TAXES
AND MINORITY
INTEREST 691 17%
Income tax provision 188 5%
Minority interest 64 2%
--------------
INCOME BEFORE
EXTRAORDINARY ITEM 439 11%
Extraordinary item, net of tax -
Early extinguishment of debt (24) -1%
--------------
NET INCOME $ 415 10%
==============
</TABLE>
<PAGE>
THE AES CORPORATION
CONSOLIDATED STATEMENT OF OPERATIONS
FOR THE TWELVE MONTHS ENDED MARCH 31, 2000 - PRORATA BASIS
<TABLE>
<CAPTION>
----------------------------------------------------------
TWELVE
MONTHS %
ENDED OF
3/31/00 SALES
----------------------------------------------------------
($ in millions,
except per
share amounts)
REVENUES:
<S> <C> <C>
Sales and services $ 5,491 100%
OPERATING COSTS
AND EXPENSES:
Cost of sales
and services 3,866 70%
Selling, general and
administrative
expenses 83 2%
Provision to reduce
contract receivables 10 -
--------------
TOTAL OPERATING COSTS
AND EXPENSES 3,959 72%
--------------
OPERATING INCOME 1,532 28%
OTHER INCOME AND
(EXPENSE):
Interest expense (1,098) -20%
Interest and other
income 199 3%
Foreign currency
transaction gain (loss) 53 -
INCOME BEFORE
INCOME TAXES
AND MINORITY
INTEREST 687 13%
Income tax provision 188 3%
Minority interest 60 1%
--------------
INCOME BEFORE
EXTRAORDINARY ITEM 439 8%
Extraordinary item, net of tax -
Early extinguishment of debt (24) 0%
--------------
NET INCOME $ 415 8%
==============
</TABLE>
<PAGE>
The AES Corporation
GAAP BALANCE SHEET (in millions)
At March 31, 2000
<TABLE>
<CAPTION>
31-Mar-00
-------------
<S> <C>
ASSETS
Current Assets
Cash and cash equivalents 822
Short-term investments 166
Accounts receivable, net 1,002
Inventory 316
Receivable from affiliates 29
Deferred income taxes 105
Contract Receiveable 532
Prepaid expenses and other current 382
assets
-------------
Total current assets 3,354
Property, Plant and Equipment
Land 224
Electric generation and distribution 12,849
assets
Accumulated depreciation and
amortization (845)
Construction in progress 1,504
-------------
Property, plant and equipment, net 13,732
Other Assets
Deferred financing costs, net 234
Project development costs 72
Investments in and advances to
affiliates 2,839
Debt service reserves and other
deposits 330
Electricity sales concessions and
contracts 1,064
Goodwill, net 817
Other assets 960
-------------
Total other assets 6,316
=============
Total 23,402
=============
LIABILITIES & STOCKHOLDERS' EQUITY
Current Liabilities
Accounts payable 388
Accrued interest 315
Accrued and other liabilities 736
Other notes payable - current portion 0
Project financing debt - current
portion 1,102
-------------
Total current liabilities 2,541
Long-Term Liabilities
Project financing debt 10,161
Other notes payable 2,452
Deferred incomes taxes 1,894
Other long-term liabilities 965
-------------
Total long-term liabilities 15,472
Minority interest 1,215
TECONS 1,318
Stockholders' Equity
Common Stock 2
Contributed capital / Additional paid
in capital 2,625
Retained earnings 1,294
Accumulated other comprehensive loss (1,065)
-------------
Total stockholders' equity 2,856
=============
Total 23,402
=============
</TABLE>
<PAGE>
The AES Corporation
Prorata Balance Sheet (in millions)
At March 31, 2000
<TABLE>
<CAPTION>
ASSETS
<S> <C>
CURRENT ASSETS
Cash and cash equivalents 976
Short-term investments 166
Accounts receivable, net 1,416
Inventory 343
Receivable from affiliates 29
Deferred income taxes 143
Contract Receiveable 532
Prepaid expenses and other current
assets 506
TOTAL CURRENT ASSETS 4,110
PROPERTY, PLANT AND EQUIPMENT
Land 225
Electric generation and distribution
assets 16,315
Accumulated depreciation and
amortization (919)
Construction in progress 1,589
PROPERTY, PLANT AND EQUIPMENT, NET 17,210
OTHER ASSETS
Deferred financing costs, net 234
Project development costs 75
Investments in and advances to
affiliates 3,181
Debt service reserves and other
deposits 330
Electricity sales concessions and
contracts 1,064
Goodwill, net 908
Other assets 1,471
TOTAL OTHER ASSETS 7,263
TOTAL 28,583
LIABILITIES & STOCKHOLDERS' EQUITY
CURRENT LIABILITIES
Accounts payable 575
Accrued interest 396
Accrued and other liabilities 1,020
Other notes payable - current portion 168
Project financing debt - current
portion 1,504
TOTAL CURRENT LIABILITIES 3,662
LONG-TERM LIABILITIES
Project financing debt 11,107
Other notes payable 2,457
Deferred incomes taxes 2,053
Other long-term liabilities 1,720
TOTAL LONG-TERM LIABILITIES 17,336
Minority interest 1,216
TECONS 1,318
STOCKHOLDERS' EQUITY
Common Stock 2
Contributed capital / Additional paid
in capital 4,114
Retained earnings 1,977
Accumulated other comprehensive loss (1,042)
TOTAL STOCKHOLDERS' EQUITY 5,051
TOTAL 28,583
</TABLE>
<PAGE>
CILCORP Consolidated
Income Statement
<TABLE>
<CAPTION>
Twelve Months Ended
3/31/00
<S> <C>
Revenue:
CILCO Electric $378,078
CILCO Gas 174,107
CILCO Other 13,082
Other Businesses 18,468
-------------
Total 583,735
-------------
Operating expenses:
Fuel for generation and purchased power 150,438
Gas purchased for resale 104,607
Other operations and maintenance 172,046
Depreciation and amortization 72,946
Taxes, other than income taxes 40,721
-------------
Total 540,758
-------------
Fixed charges and other:
Interest expense 47,099
Preferred stock dividends of subsidiary 3,251
Allowance for funds used during construction (250)
Other 1,065
-------------
Total 51,165
-------------
Income from continuing operations before
income taxes (8,188)
Income taxes (1,445)
-------------
Net income (loss) from continuing operations (6,743)
Income (Loss) from operations of discontinued
business, net of taxes (648)
Extraordinary Item -
-------------
Net income (loss) before minority interest (7,391)
Minority Interest -
-------------
Net income (loss) (7,391)
Other comprehensive income -
-------------
Comprehensive income (loss) $ (7,391)
=============
</TABLE>
<PAGE>
CONSOLIDATED STATEMENTS OF INCOME
CENTRAL ILLINOIS LIGHT COMPANY
<TABLE>
<CAPTION>
Twelve Months Ended
03/31/2000
----------------
<S> <C>
Operating Revenues:
Electric 378,078
Gas 174,107
----------------
552,185
----------------
Operating Expenses:
Cost of Fuel 82,516
Cost of Gas 95,538
Purchased Power 57,311
Other Operation & Maintenance Expenses 152,046
Depreciation and Amortization 66,035
Income Taxes 12,963
Other Taxes 40,571
----------------
506,980
----------------
Operating Income 45,205
Other Income and Deductions
CILCO Owned Life Insurance (1,065)
Other, Net 278
----------------
(787)
----------------
Income Before Interest Expenses 44,418
Interest Expenses:
Interest on Long-Term Debt 18,957
Cost of Borrowed Funds Capitalized (250)
Other 4,126
----------------
22,833
----------------
Net Income Before Preferred Dividends 21,585
Preferred Stock Dividends 3,251
----------------
Net Inc Available for Common Stock 18,334
================
</TABLE>
<PAGE>
CILCORP INC. AND SUBSIDIARIES
Consolidated Balance Sheets
(In thousands)
<TABLE>
<CAPTION>
March 31,
2000
ASSETS (Unaudited)
<S> <C>
Current assets:
Cash and temporary cash investments $ 4,147
Receivables, less reserves of
$1,606 and $1,296 65,207
Accrued unbilled revenue 25,293
Fuel, at average cost 10,169
Materials and supplies, at
average cost 16,117
Gas in underground storage, at
average cost 7,423
FAC Underrecoveries 6,883
Prepayments and other 13,015
----------
Total current assets 148,254
----------
Investments and other property:
Investment in leveraged leases 140,053
Cash surrender value of company-owned
life insurance, net of related
policy loans of $53,558 3,899
Other investments 23,802
----------
Total investments and other
property 167,754
----------
Property, plant and equipment:
Utility plant, at original cost
Electric 624,782
Gas 208,466
----------
833,248
Less - accumulated provision for
depreciation 25,945
----------
807,303
Construction work in progress 47,214
Other, net of depreciation 258
----------
Total property, plant and
equipment 854,775
----------
Other assets:
Goodwill, net of accumulated
amortization of $6,453 and $2,881 568,173
Other 45,841
----------
Total other assets 614,014
----------
Total assets $1,784,797
==========
</TABLE>
<PAGE>
CILCORP INC. AND SUBSIDIARIES
Consolidated Balance Sheets
(In thousands)
<TABLE>
<CAPTION>
March 31,
2000
LIABILITIES AND STOCKHOLDER'S EQUITY (Unaudited)
<S> <C>
Current liabilities:
Current portion of long-term debt $ --
Notes payable 69,900
Accounts payable 34,706
Accrued taxes 22,720
Accrued interest 25,986
FAC/PGA overrecoveries 974
Other 5,589
----------
Total current liabilities 159,875
----------
Long-term debt 730,445
----------
Deferred credits and other liabilities:
Accumulated deferred income taxes 236,594
Regulatory liability of regulated
subsidiary 26,910
Deferred investment tax credits 17,383
Other 76,772
----------
Total deferred credits and
other liabilities 357,659
----------
Preferred stock of subsidiary 66,120
----------
Stockholder's equity:
Common stock, no par value;
authorized 10,000 shares -
outstanding 1,000 shares --
Additional Paid-in Capital 468,833
Retained earnings 1,865
Accumulated other comprehensive
income --
----------
Total stockholder's equity 470,698
----------
Total liabilities and
stockholder's equity $1,784,797
==========
</TABLE>
<PAGE>
CENTRAL ILLINOIS LIGHT COMPANY
Consolidated Balance Sheets
(In thousands)
<TABLE>
<CAPTION>
March 31,
ASSETS 2000
(Unaudited)
<S> <C>
Utility plant, at original cost:
Electric $1,263,082
Gas 431,833
----------
1,694,915
Less - accumulated provision
for depreciation 887,612
----------
807,303
Construction work in progress 47,214
----------
Total utility plant 854,517
----------
Other property and investments:
Cash surrender value of company-owned
life insurance (net of related
policy loans of $53,558) 3,899
Other 1,183
----------
Total other property and
investments 5,082
----------
Current assets:
Cash and temporary cash investments 1,653
Receivables, less reserves of
$1,606 and $1,296 48,445
Accrued unbilled revenue 24,655
Fuel, at average cost 10,169
Materials and supplies,
at average cost 16,086
Gas in underground storage,
at average cost 7,423
Prepaid taxes 6,365
FAC underrecoveries 6,883
Other 12,927
----------
Total current assets 134,606
----------
Deferred debits:
Unamortized loss on reacquired debt 2,874
Unamortized debt expense 1,518
Prepaid pension cost 308
Other 16,790
----------
Total deferred debits 21,490
----------
Total assets $1,015,695
==========
</TABLE>
<PAGE>
CENTRAL ILLINOIS LIGHT COMPANY
Consolidated Balance Sheets
(In thousands)
<TABLE>
<CAPTION>
March 31,
CAPITALIZATION AND LIABILITIES 2000
(Unaudited)
<S> <C>
Capitalization:
Common stockholder'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 135,567
Accumulated other comprehensive income (60)
----------
Total common stockholder's equity 348,168
Preferred stock without mandatory
redemption 44,120
Preferred stock with mandatory redemption 22,000
Long-term debt 237,945
----------
Total capitalization 652,233
----------
Current liabilities:
Current maturities of long-term debt --
Notes payable 29,900
Accounts payable 29,251
Accrued taxes 29,744
Accrued interest 6,839
FAC/PGA overrecoveries 974
Level payment plan --
Other 5,517
----------
Total current liabilities 102,225
----------
Deferred credits and other liabilities:
Accumulated deferred income taxes 137,938
Regulatory liability 26,910
Deferred investment tax credit 17,383
Capital lease obligation 1,046
Other 77,960
----------
Total deferred credits and
other liabilities 261,237
----------
Total capitalization and
liabilities $1,015,695
==========
</TABLE>
<PAGE>
ITEM (2) PER EXEMPTION ORDER (INCOME STATEMENT AMOUNTS ARE 12 MONTHS ENDED):
CILCO/CILCORP CONTRIBUTIONS TO
AES/CILCORP CONSOLIDATED HOLDING COMPANY
(GAAP BASIS)
($MM)
<TABLE>
<CAPTION>
------------------------------------------- ---------------- -----------------
12 MOS. 12 MOS.
12/31/99 3/31/00
------------------------------------------- ---------------- -----------------
<S> <C> <C>
GROSS REVENUES %-CILCO 15.14% 12.89%
CILCO 562 565
AES 3,253 4,091
AES/CILCORP 3,713 4,382
------------------------------------------- ------- -------
GROSS REVENUES %-CILCORP 15.65% 13.33%
CILCORP (Including CILCO) 581 584
AES 3,253 4,091
AES/CILCORP 3,713 4,382
------------------------------------------- ------- -------
NET OPERATING REVENUES %-CILCO 12.69% 11.05%
CILCO 376 386
AES 2,655 3,335
AES/CILCORP 2,962 3,493
------------------------------------------- ------- -------
NET OPERATING REVENUES %-CILCORP 13.64% 11.31%
CILCORP (Including CILCO) 404 395
AES 2,655 3,335
AES/CILCORP 2,962 3,493
------------------------------------------- ------- -------
OPERATING INCOME %-CILCO 5.78% 5.04%
CILCO 55 56
AES 925 1,111
AES/CILCORP 952 1,111
------------------------------------------- ------- -------
OPERATING INCOME %-CILCORP 4.30% 3.87%
CILCORP (Including CILCO) 41 43
AES 925 1,111
AES/CILCORP 952 1,111
------------------------------------------- ------- -------
NET INCOME %-CILCO 6.99% 4.47%
CILCO 16 18
AES 228 415
AES/CILCORP 229 402
------------------------------------------- ------- -------
NET INCOME %-CILCORP -.44% -.02%
CILCORP (Including CILCO) (1) (7)
AES 228 415
AES/CILCORP 229 402
------------------------------------------- ------- -------
NET ASSETS %-CILCO 4.86% 4.34%
CILCO 1,056 1,016
AES 21,744 23,402
AES/CILCORP 21,744 23,402
------------------------------------------- ------- -------
NET ASSETS %-CILCORP 8.42% 7.63%
CILCORP (Including CILCO) 1,831 1,785
AES 21,744 23,402
AES/CILCORP 21,744 23,402
------------------------------------------- ------- -------
</TABLE>
<PAGE>
CILCO/CILCORP CONTRIBUTIONS TO
AES/CILCORP CONSOLIDATED HOLDING COMPANY
(PRO RATA CONSOLIDATION BASIS)
($MM)
<TABLE>
<CAPTION>
------------------------------------------- ---------------- -----------------
12 MOS. 12 MOS.
12/31/99 3/31/00
------------------------------------------- ---------------- -----------------
<S> <C> <C>
GROSS REVENUES %-CILCO 11.78% 9.77%
CILCO 562 565
AES 4,309 5,491
AES/CILCORP 4,769 5,782
------------------------------------------- ------- -------
GROSS REVENUES %-CILCORP 12.18% 10.10%
CILCORP (Including CILCO) 581 584
AES 4,309 5,491
AES/CILCORP 4,769 5,782
------------------------------------------- ------- -------
NET OPERATING REVENUES %-CILCO 9.49% 7.95%
CILCO 376 386
AES 3,656 4,698
AES/CILCORP 3,963 4,856
------------------------------------------- ------- -------
NET OPERATING REVENUES %-CILCORP 10.19% 8.13%
CILCORP (Including CILCO) 404 395
AES 3,656 4,698
AES/CILCORP 3,963 4,856
------------------------------------------- ------- -------
OPERATING INCOME %-CILCO 4.29% 3.66%
CILCO 55 56
AES 1,256 1,532
AES/CILCORP 1,283 1,532
------------------------------------------- ------- -------
OPERATING INCOME %-CILCORP 3.20% 2.81%
CILCORP (Including CILCO) 41 43
AES 1,256 1,532
AES/CILCORP 1,283 1,532
------------------------------------------- ------- -------
NET INCOME %-CILCO 6.99% 4.47%
CILCO 16 18
AES 228 415
AES/CILCORP 229 402
------------------------------------------- ------- -------
NET INCOME %-CILCORP -.44% -.02%
CILCORP (Including CILCO) (1) (7)
AES 228 415
AES/CILCORP 229 402
------------------------------------------- ------- -------
NET ASSETS %-CILCO 4.64% 3.55%
CILCO 1,056 1,016
AES 22,759 28,583
AES/CILCORP 22,759 28,583
------------------------------------------- ------- -------
NET ASSETS %-CILCORP 8.05% 6.24%
CILCORP (Including CILCO) 1,831 1,785
AES 22,759 28,583
AES/CILCORP 22,759 28,583
------------------------------------------- ------- -------
</TABLE>
<PAGE>
ITEM (3) PER EXEMPTION ORDER - GENERATION INFORMATION:
AES Generating Plants in Operation at March 31, 2000 (excluding CILCO):
<TABLE>
<CAPTION>
AES AES
Capacity Interest Equity Regulatory
UNIT COUNTRY (MW) (%) (MW) STATUS
---- ------- ---- --- ------ ------
<S> <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
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 - March 31, 2000 33,263 23056.99
Pct. Of Foreign Generation 80.03% 71.20%
</TABLE>
* CEMIG owns 21.648% of 36 plants accounting for 5,458 MW and 3.14% of
1 plant accounting for 210 MW.
<PAGE>
CILCO Generating Plants at March 31, 2000:
<TABLE>
<CAPTION>
AES AES
Capacity Interest Equity Regulatory
UNIT COUNTRY (MW) (%) (MW) STATUS
---------------------- ------- ---- --------- ---- -----------
<S> <C> <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 10 100.00 10 IL PUC
Sterling Avenue USA 30 100.00 30 IL PUC
----- -----
TOTAL - March 31, 2000 1,146 1,146
</TABLE>
Revenues from generation capacity - 12 months ended March 31, 2000:
<TABLE>
<S> <C> <C>
CILCO 151 5%
AES (excluding CILCO) 2,717 95%
----- ---
Total 2,868 100%
</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.
There has been a 6 MW reduction in the amount of capacity owned by CILCO from
1,152 to 1,146 MW since December 31, 1999. There has also been a 21.6%
increase in the total revenues earned from the capacity owned by AES and
CILCO since December 31, 1999. The percentage of total revenues derived from
the capacity owned by CILCO has decreased from 6% to 5% since December 31,
1999.
<PAGE>
ITEM (4) PER EXEMPTION ORDER - ELECTRIC AND GAS DISTRIBUTION:
<TABLE>
<S> <C>
CILCO elec/gas transmission/distribution assets at March 31, 2000 727
Total AES (excl CILCO) electric distr. assets at March 31, 2000 10,943
------
Total transmission and distribution assets 11,670
CILCO elec/gas transm/distr revenues - 12 mos. March 31, 2000 401
AES (excl CILCO) electric distr. revenues - 12 mos. March 31, 2000 2,481
------
Total electric/gas transm/distr. revenues 2,882
</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.
The total transmission and distribution assets owned by AES and CILCO has
increased by 105.6% since December 31, 1999 and the total revenues derived from
such assets has increased by 21% since December 31, 1999. CILCO's transmission
and distribution assets and the revenues derived from such assets has slightly
decreased since December 31, 1999 while AES' transmission and distribution
assets and the revenues derived from such assets has substantially increased
since December 31, 1999. Accordingly, CILCO's percentage of the total
transmission and distribution assets has decreased from 13.3% to 6.2% and
CILCO's percentage of total revenues from such assets has decreased from 17% to
13.9% since December 31, 1999.
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 or 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 30th day of May, 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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