35-CERT 1 rule24_708411.htm FILE 070-08411

 

 

 

IN THE MATTER OF

 

FILE NO. 70-8411

 

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

CERTIFICATE OF NOTIFICATION PURSUANT TO RULE 24

 

UNDER

 

THE PUBLIC UTILITY HOLDING COMPANY ACT OF 1935

 

Allegheny Energy, Inc.

800 Cabin Hill Drive

Greensburg, PA 15601

 

Allegheny Ventures, Inc.

800 Cabin Hill Drive

Greensburg, PA 15601

 

 

 

The Commission is requested to send copies of all notices, orders

and communications in connection with this Application / Declaration to:

 

 

Jeffrey D. Serkes
Senior Vice President and Chief Financial Officer
Allegheny Energy Inc.
800 Cabin Hill Drive
Greensburg, PA 15601

Hyun Park
Vice President and General Counsel
Allegheny Energy, Inc.
800 Cabin Hill Drive
Greensburg, PA 15601

 



 

 

This certificate is filed pursuant to Rule 24 for the quarter ended June 30, 2005. Allegheny Energy, Inc. (“Allegheny Energy”) has not made any capital contributions to Allegheny Ventures, Inc. (“Allegheny Ventures”) and its subsidiaries during the three months ended June 30, 2005. Other specific activities performed by Allegheny Ventures during the three months ended June 30, 2005 are shown below.

 

I.  Description of Activities

 

Consulting and Engineering Services

 

Allegheny Ventures, through its subsidiaries, provided engineering, consulting, procurement and distributed generation services to nonaffiliated entities and completed development and marketing activities associated with the provision of such services to nonaffiliated entities.

 

Energy Management Services:

 

APS Cogenex

 

Allegheny Ventures and Cogenex Corporation continue to provide energy management services under the terms of their joint venture agreement for APS Cogenex, LLC. Activities related to the joint venture and the development of energy management activities have been limited to a selected focus area. There have been no efforts to expand the joint venture activities to new customers. APS Cogenex LLC is currently pursuing an additional development project at the same location as previous projects, known as Project 14. Under terms of Amendment No. 2 to the APS Cogenex LLC Operating Agreement, Allegheny Ventures has no obligation for additional non-voluntary capital contributions to APS Cogenex LLC, including Project 14. No additional investments were made during three months ended June 30, 2005.

 

Electric Wholesale Generators (EWGs) and Foreign Utility Companies (FUCOs)

 

During the three months ended June 30, 2005, Allegheny Ventures did not make any incremental capital contributions to its EWGs or FUCOs investments.

 

Communications

 

Allegheny Ventures, through Allegheny Communications Connect (“ACC”), provides state-of-the-art communications services to the wholesale and business markets and communication services to its affiliates.

 

Heating, Ventilation and Air Conditioning Services

 

On May 6, 2005, Allegheny Ventures completed the sale of Appalachian Electric Heating.

 

Allegheny Ventures, through Appalachian Electric Heating, engaged in the sale, installation and servicing of residential and commercial heating, ventilation and air conditioning (“HVAC”) and commercial plumbing systems.

 

Other Activities

 

Allegheny Ventures owns a 25% working interest in a producing gas well in Clay County, West Virginia. The well is operated by the Energy Corporation of America.

 

II.  Guarantees or Assumption of Liabilities

 

Allegheny Energy did not provide any guarantees or assume any liabilities on behalf of Allegheny Ventures or its subsidiaries during the three months ended June 30, 2005.

 



 

 

 

III.  Services Provided by Allegheny Ventures to Associate Companies:

 

Except as stated above, Allegheny Ventures did not provide any services to associate companies during the three months ended June 30, 2005.

 

IV.  Factoring Activities:

 

Allegheny Ventures did not perform any activities associated with the factoring of accounts receivable during the three months ended June 30, 2005.

 

 

 

 

ALLEGHENY ENERGY, INC.

 

 

ALLEGHENY VENTURES, INC.

 

 

 

 

 

 

 

Dated: August 29, 2005

By:

/s/ Thomas R. Gardner

 

 

Thomas R. Gardner

 

 

Vice President, Controller &

 

 

Chief Accounting Officer

 

 



 

 

ALLEGHENY VENTURES, INC

CONSOLIDATED STATEMENTS OF OPERATIONS

(unaudited)

 

 

Three months ended

Twelve months ended

 

June 30,

June 30,

(In thousands)

2005

2005

 

 

 

Operating revenues

$8,708

$39,390

 

 

 

Operating expenses:

 

 

Operations and maintenance

8,709

37,358

Depreciation and amortization

645

2,546

Taxes other than income taxes

139

712

Total operating expenses

9,493

40,616

 

 

 

Operating loss

(785)

(1,226)

 

 

 

Other income, net

4,132

5,773

 

 

 

Interest expense (benefit)

124

(163)

 

 

 

Income before income taxes

3,223

4,710

 

 

 

Income tax benefit

(358)

(83)

 

 

 

Net income

$3,581

$4,793

 

 



 

 

ALLEGHENY VENTURES, INC

CONSOLIDATED BALANCE SHEET

(unaudited)

 

 

June 30,

(In thousands)

2005

 

 

ASSSETS

 

Current assets:

 

Cash and cash equivalents

$10,460

Accounts receivable:

 

Customer

1,297

Other

2,066

Materials and supplies

2,582

Prepaid taxes

104

Other

28

Total current assets

16,537

 

 

Property, plant and equipment:

 

In service, at original cost

43,985

Accumulated depreciation

(9,848)

Subtotal

34,137

Construction work in progress

(186)

Total property, plant and equipment

33,951

 

 

Investments and other assets:

 

Unregulated investments

3,193

Other

383

Total investments and other assets

3,576

 

 

Deferred charges

51

 

 

Total assets

$54,115

 

 

LIABILITIES AND STOCKHOLDER’S EQUITY

 

Current liabilities:

 

Accounts payable

$3,558

Accounts payable to affiliates, net

437

Accrued income taxes

(5,170)

Other

2,711

Total current liabilities

1,536

 

 

Deferred income tax credits

(19,142)

 

 

Other liabilities

1,026

 

 

Stockholder’s equity

70,695

 

 

Total liabilities and stockholder’s equity

$54,115