U-9C-3/A 1 filing93001.htm AMENDMENT FOR 09/30/01 - ALLEGHENY ENERGY ITEM 1 - ORGANIZATION CHART

 

 

 

 

UNITED STATES

SECURITES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

 

FORM U-9C-3/A

 

 

 

QUARTERLY REPORT PURSUANT TO RULE 58

 

 

For the quarter ended September 30, 2001

 

 

 

 

 

 

 

ALLEGHENY ENERGY, INC.

(Name of registered holding company)

 

 

 

10435 Downsville Pike, Hagerstown, Maryland 21740-1766

(Address of principal executive offices)

 

 

 

 

Inquiries concerning this Form U-9C-3 should be directed to:

Thomas J. Kloc
Allegheny Energy, Inc.
10435 Downsville Pike
Hagerstown, MD 21740 -1766
(301) 665-2711

 
 
 
 

 

The exhibits attached are being submitted to complete the U9C3 filing for the period ended September 30, 2001.

ITEM 6 - FINANCIAL STATEMENTS AND EXHIBITS

 
 

Note :   As noted in the U9C3 filing for the quarter ended June 30, 2001, upon the acquisition of Allegheny Energy Global Markets, LLC (Global Markets), it was the intent of Allegheny Energy, Inc. (Allegheny Energy) and Allegheny Energy Supply Company, LLC, (Supply) that (1) all trading activity effected by Supply directly or by Global Markets as agent for Supply from the closing of the acquisition ("Post-Closing Trades") be done for the account of Supply and recorded solely on the financial records of Supply (and not Global Markets), (2) the closing acquired trades be acquired for the account of Supply and be recorded solely on the financial records of Supply (and not Global Markets), and (3) the novated trades be purchased by Supply from Global Markets on the date of novation for the net fair market value (positive or negative) of such trades as of such date. However, due to an accounting error prior to the filing of the U-9C-3 form on November 29, 2001, certain accounting entries did not conform to the parties intentions. In order that the accounting entries conform to the above, Allegheny Energy revised the stand-alone financial statements of Global Markets and Supply. The adjustments did not alter the consolidated financial results of Supply.

 

Allegheny Energy Supply Company, LLC Consolidating Statement of Operations for the Nine Months Ended September 30, 2001

 

Allegheny Energy Supply Company, LLC Consolidating Balance Sheet at September 30, 2001

 

 
 
 

 

 

 

 

 

 

 

 

Signature

 

     Pursuant to the requirements of the Public Utilities Holding Company Act of 1935, Allegheny Energy, Inc. has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

ALLEGHENY ENERGY, INC.

 
 
 

/s/ THOMAS J. KLOC

 
 

Thomas J. Kloc

Vice President and Controller

(Chief Accounting Officer)

 

 

March 28, 2002

 

 

Allegheny Energy Supply Company, LLC

Consolidated Statement of Operations

Allegheny Energy

Supply Company, LLC

Excluding

Allegheny Energy

Global Markets

Allegheny Energy Global Markets

 

Allegheny Energy Supply Company, LLC Consolidated

Nine Months

Ended

September 30, 2001

Nine Months

Ended

September 30, 2001*

Nine Months

Ended

September 30, 2001

(Thousand of Dollars)

Operating Revenues:

  Retail

              $  113,238

            113,238

  Wholesale

               6,063,515

           $   50,865

            6,114,380

  Affiliated

                  845,362 

                           

               845,362

    Total Operating Revenues

               7,022,115

                50,865

            7,072,980

Cost of Sales:

  Fuel for electric generation

                 338,943

              338,943

  Purchased energy and transmission

               5,047,712

             874,381

           5,922,093

    Cost of Sales

               5,386,655

             874,381

           6,261,036

  Net Revenues

               1,635,460

           (823,516)

             811,944

Other Operating Expenses:

  Selling, general and administrative

                    50,787

              53,970

             104,757

  Other operation

                    44,136

               44,136

  Maintenance

               98,622 

               98,622

  Depreciation and amortization

                    65,492

             15,245

               80,737

  Taxes other than income taxes

                    49,666

               1,015

               50,681

    Total Operating Expenses

                  308,703 

             70,230

             378,933

Operating Income

               1,326,757

         (893,746)

             433,011

Other Income and Expenses

                      3,992

                 946 

                 4,938

Interest Charges:

  Interest charges

                   75,330

              3,263

               78,593

  Interest capitalized

                    (4,545)

                       

               (4,545)

    Total Interest Charges

                   70,785

              3,263 

              74,048

Consolidated Income Before Income Taxes,

  Minority Interest, and Cumulative

    Effect of Accounting Change

              1,259,964

        (896,063)

            363,901

Federal and State Income Taxes

                527,223

        (398,179)

            129,044

Minority Interest

                    3,646

                       

               3,646

Consolidated Income Before Cumulative Effect of Accounting Change

                729,095

        (497,884)

   

           231,211

Cumulative Effect of Accounting Change, Net

                  31,147

                      

             31,147

Consolidated Net Income

         $     697,948 

      $(497,884)

   

    $    200,064

*In Holding Company Act Release No. 27486 (December 31, 2001), the Commission, among other things, authorized Allegheny Energy, Inc. to merge Allegheny Energy Global Markets into Allegheny Energy Supply, LLC, making it a division thereof. Effective January 1, 2002, Allegheny Energy Global Markets and Allegheny Energy Supply, LLC will report on a consolidated basis.

 

 

Allegheny Energy Supply Company, LLC

Balance Sheet

     
 

Allegheny Energy

Supply Company, LLC

Excluding

Allegheny Energy

Global Markets

Allegheny Energy Global Markets

 

Allegheny Energy Supply Company, LLC Consolidated

 

Nine Months

Ended

September 30, 2001

Nine Months

Ended

September 30, 2001*

Nine Months

Ended

September 30, 2001

(Thousands of Dollars)

     
       

Property, plant and equipment:

     

  At Original Cost

      $  5,267,334

      $      12,882

      $  5,280,216

  Accumulated Depreciation

        (1,925,731)

                  (789)

         (1,926,520)

   Total Property, plant and equipment

         3,341,603

              12,093

          3,353,696

       

Investments and other assets:

     

  Goodwill

    

            373,958

             373,958

  Other assets

                   250

                1,420

                 1,670

      Total Investments and Other Assets

                   250 

            375,378

             375,628 

       

Current assets:

     

  Cash and temporary cash investments

                8,782

                     27

                 8,809

  Accounts receivable:

     

     Electric Service

            186,928

                     20

             186,948

     Other

             (59,352)

              84,185

               24,833

     Allowance for uncollectible accounts

               (2,874)

              

                (2,874)

     Accounts receivable-affiliated

              98,541

             

               98,541

     Accounts payable-affiliated

             (43,118)

            (29,875)

              (72,993)

  Material and supplies:

      

      

      

     Operating and construction

              52,479

             

               52,479

      Fuel

              27,571

             

               27,571

  Deposits

              68,035

             

               68,035

  Prepaid taxes

              22,264

           131,770

             154,034

  Commodity Contracts

         1,698,927

        

          1,698,927

  Other

                4,959

                    67

                 5,026

             Total Current Assets

         2,063,142

           186,194

          2,249,336

       
       

Deferred charges:

     

  Unamortized loss on reacquired debt

                6,118

              

                 6,118

  Regulatory assets

                7,132

              

                 7,132

  Other

              28,222

               4,535

               32,757

      Total Deferred Charges

              41,472

               4,535

              46,007

       
       

TOTAL ASSETS

      $ 5,446,467

      $  578,200

     $  6,024,667

       
       
       
       
       
       
       
       
       

 

 

       

 

Allegheny Energy Supply Company, LLC

Balance Sheet (continued)

     
 

Allegheny Energy

Supply Company, LLC

Excluding

Allegheny Energy

Global Markets

Allegheny Energy Global Markets

 

Allegheny Energy Supply Company, LLC Consolidated

 

Nine Months

Ended

September 30, 2001

Nine Months

Ended

September 30, 2001*

Nine Months

Ended

September 30, 2001

       
       

LIABILITIES AND MEMBER'S EQUITY

     
       

Capitalization:

     

   Common stock

        $   572,840

         $  732,952

       $1,305,792

   Retained earnings

             712,540

            (497,884)

            214,656

        Subtotal

          1,285,380

             235,068

         1,520,448

       

Long-term debt

             892,714

 

            892,714

       

Minority interest

               30,912

 

              30,912

       

Current Liabilities:

     

  Long-term debt due within one year

               83,507

 

              83,507

  Notes payable to parent and affiliates

             452,550

            452,550

  Short-term debt

             678,352

            235,150

            913,502

  Accounts payable, other

             281,368

              33,642

            315,010

  Deferred income taxes

               14,369

            200,443

            214,812

  Taxes accrued:

     

       Federal and state income

             473,872

           (441,505)

              32,367

       Other

               25,628

                   814 

              26,442

  Interest accrued

               12,407

 

              12,407

  Payroll accrued

               32,805

 

              32,805

  Commodity contracts

             688,049

            281,471

            969,520

  Customer deposits

               17,250

 

              17,250

  Other

              (19,398)

              33,117

              13,719

 

          2,740,759

            343,132

         3,083,891

       

Deferred Credits and Other Liabilities:

     

  Unamortized investment credit

              64,622

            

              64,622

  Deferred income taxes

            397,052

            

            397,052

  Regulatory liabilities

              23,626

            

              23,626

  Other

              11,402

                          

              11,402

      Total Deferred Credits and Other Liabilities

            496,702

 

            496,702

       

        Total Capitalization and Liabilities

     $  5,446,467

        $  578,200

     $  6,024,667

       
       
       

*In Holding Company Act Release No. 27486 (December 31, 2001), the Commission, among other things, authorized Allegheny Energy, Inc. to merge Allegheny Energy Global Markets into Allegheny Energy Supply, LLC, making it a division thereof. Effective January 1, 2002, Allegheny Energy Global Markets and Allegheny Energy Supply, LLC will report on a consolidated basis.