SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
In the Matter of NORTHEAST UTILITIES, and its Subsidiaries File No. 70-09755 | QUARTERLY CERTIFICATE PURSUANT TO RULE 24 UNDER THE PUBLIC UTILITY HOLDING COMPANY ACT OF 1935 |
Pursuant to the Public Utility Holding Company Act of 1935 and Rule 24(a) thereunder, Northeast Utilities (“NU”), a registered holding company, on behalf of itself and its subsidiaries, including The Connecticut Light and Power Company (“CL&P”), Western Massachusetts Electric Company (“WMECO”), Yankee Energy System, Inc. (“YES”) and Yankee Gas Services Company (“Yankee Gas”), hereby files this certificate pursuant to Rule 24 reporting on transactions authorized by the Commission by order dated June 30, 2004 in this File (HCAR 35-27870) for the quarter ending March 31, 2005.
1.
External Short Term Debt and Commercial Paper Issuances
Company | Maximum Amount of Commercial Paper During Qtr. | Maximum Amount of Short-Term Notes to Banks During Qtr. | Total Amount of CP and Short-Term Notes at End of Qtr | Money Pool Balance at End of Quarter |
Northeast Utilities | $0 | $150,000,000 | $115,000,000 | $178,800,000 |
CL&P | $0 | $97,000,000 | $82,000,000 | ($137,525,000) |
WMECO | $0 | $45,000,000 | $30,000,000 | ($18,100,000) |
YES | $0 | $0 | $0 | $8,200,000 |
Yankee Gas | $0 | $50,000,000 | $20,000,000 | ($5,000,000) |
2.
Bank Borrowings During Quarter
Company: NU
Period: January 1, 2005 – March 31, 2005
Name of Bank | Amount | Date Issued | Interest Rate |
Union Bank of California | $25,000,000 | 01/13/05 | 3.0375% |
Union Bank of California | $74,000,000 | 01/20/05 | 5.2500% |
Union Bank of California | $20,000,000 | 01/25/05 | 5.2500% |
Union Bank of California | $35,000,000 | 01/26/05 | 3.0375% |
Union Bank of California | $35,000,000 | 01/31/05 | 3.1000% |
Union Bank of California | $35,000,000 | 02/22/05 | 5.5000% |
Union Bank of California | $35,000,000 | 02/25/05 | 3.1625% |
Union Bank of California | $35,000,000 | 02/28/05 | 3.1625% |
Union Bank of California | $15,000,000 | 03/01/05 | 3.2250% |
Union Bank of California | $45,000,000 | 03/21/05 | 3.4500% |
Union Bank of California | $20,000,000 | 03/22/05 | 5.7500% |
Union Bank of California | $20,000,000 | 03/24/05 | 3.4500% |
Union Bank of California | $50,000,000 | 03/24/05 | 3.5375% |
Company: CL&P
Period: January 1, 2005 – March 31, 2005
Name of Bank | Amount | Date Issued | Interest Rate |
Citibank | $50,000,000 | 01/31/05 | 3.1000% |
Citibank | $53,000,000 | 02/22/05 | 5.5000% |
Citibank | $35,000,000 | 02/28/05 | 5.5000% |
Citibank | $50,000,000 | 02/28/05 | 3.1625% |
Citibank | $20,000,000 | 03/21/05 | 3.3500% |
Citibank | $50,000,000 | 03/21/05 | 3.3500% |
Citibank | $12,000,000 | 03/31/05 | 5.7500% |
Company: WMECO
Period: January 1, 2005 – March 31, 2005
Name of Bank | Amount | Date Issued | Interest Rate |
Citibank | $10,000,000 | 01/12/05 | 2.9750% |
Citibank | $25,000,000 | 01/31/05 | 3.1000% |
Citibank | $10,000,000 | 02/04/05 | 3.0650% |
Citibank | $10,000,000 | 02/28/05 | 3.1625% |
Citibank | $10,000,000 | 03/04/05 | 3.1950% |
Citibank | $10,000,000 | 03/21/05 | 3.3500% |
Citibank | $10,000,000 | 03/30/05 | 3.3500% |
Citibank | $10,000,000 | 03/31/05 | 3.3500% |
Company: YES
Period: January 1, 2005 – March 31, 2005
Name of Bank | Amount | Date Issued | Interest Rate |
N/A | N/A | N/A | N/A |
Company: Yankee Gas
Period: January 1, 2005 – March 31, 2005
Name of Bank | Amount | Date Issued | Interest Rate |
Citibank
| $10,000,000 | 01/05/05 | 2.9125% |
Citibank
| $20,000,000 | 01/12/05 | 2.9750% |
Citibank
| $20,000,000 | 01/25/05 | 5.2500% |
Citibank
| $20,000,000 | 01/31/05 | 3.1000% |
Citibank
| $10,000,000 | 02/24/05 | 3.1000% |
Citibank
| $10,000,000 | 02/28/05 | 3.1625% |
Citibank
| $10,000,000 | 03/21/05 | 3.3500% |
Citibank
| $10,000,000 | 03/29/05 | 3.3500% |
3.
Maximum borrowings from and loans to the NU Money Pool during the quarter and the interest rate applied to such borrowings and loans.
Company | Maximum Amount Borrowed During Quarter | Maximum Amount Invested During Quarter | Average Interest Rate During Quarter ** |
Northeast Utilities | $ 0 | $257,000,000* | 2.9999% |
NUSCO | $ 0 | $ 0 | N/A |
CL&P | $156,825,000 | $ 0 | 2.4952% |
WMECO | $ 22,300,000 | 2.4429% | |
WMECO | $ 17,100,000 | 2.5189% | |
PSNH | $ 49,100,000 | $ 0 | 2.4577% |
NAEC | $ 0 | $ 5,400,000 | 2.4800% |
HWP | $ 10,000,000 | $ 0 | 2.4567% |
NNECO | $ 0 | $ 32,300,000 | 2.4692% |
YES | $ 0 | $ 8,200,000 | 2.4866% |
Yankee Gas | $ 30,300,000 | 2.3475% | |
Yankee Gas | $ 13,500,000 | 2.5272% | |
RRR | $ 17,100,000 | $ 0 | 2.4655% |
Quinnehtuk | $ 3,500,000 | $ 0 | 2.4746% |
NUEI | $ 0 | $ 50,100,000 | 2.4624% |
NGC | $ 0 | $ 10,000,000 | 2.4680% |
NGS | $ 650,000 | 2.0767% | |
NGS | $ 6,450,000 | 2.5092% | |
Properties | $ 0 | $ 3,500,000 | 2.4680% |
Woods Electrical | $ 6,400,000 | $ 0 | 2.4726% |
Woods Network | $ 0 | $ 0 | N/A |
E. S. Boulos | $ 0 | $ 0 | N/A |
Select Energy | $187,800,000* | 3.3743% | |
Select Energy | $ 84,800,000 | 2.6260% | |
SENY | $ 10,000,000 | 2.4728% | |
SENY | $ 10,000,000 | 2.8700% | |
Mode 1 | $ 0 | $ 1,300,000 | 2.3985% |
SESI. | $ 14,750,000 | $ 0 | 2.4482% |
Yankee Financial | $ 3,600,000 | $ 0 | 2.4646% |
YESCO | $ 0 | $ 700,000 | 2.4680% |
NorConn | $ 1,100,000 | $ 0 | 2.4680% |
Borrowings/investments marked with (*) represent borrowings/investments through the Money Pool from NU’s External Funds. The interest rate on such funds matches the interest rate paid by NU to its external lender. All other borrowings/investments are borrowings/investments of surplus funds of money pool participants.
**Average interest rate for loans to the Money Pool calculated at Fed Funds rate.
4.
Short-Term Interest Rate Hedging Transactions entered into during the quarter.
Company | Counterparty | Notional Amount | Issuance Date | Maturity Date |
Northeast Utilities | N/A | N/A | N/A | N/A |
CL&P | N/A | N/A | N/A | N/A |
WMECO | N/A | N/A | N/A | N/A |
YES | N/A | N/A | N/A | N/A |
Yankee Gas | N/A | N/A | N/A | N/A |
Pursuant to the requirements of the Public Utility Holding Company Act of 1935, the undersigned companies have duly caused this Certificate pursuant to Rule 24 to be signed on their behalf by the undersigned thereunto duly authorized.
Dated: | May 13, 2005 Northeast Utilities Northeast Utilities Service Company The Connecticut Light and Power Company Western Massachusetts Electric Company Public Service Company of New Hampshire North Atlantic Energy Corporation Holyoke Water Power Company Northeast Nuclear Energy Company Yankee Energy System, Inc. Yankee Gas Services Company The Rocky River Realty Company The Quinnehtuk Company NU Enterprises, Inc. Northeast Generation Company Northeast Generation Service Company Properties, Inc. Woods Electrical Co., Inc. Woods Network Services, Inc. E. S. Boulos Company Select Energy, Inc. Select Energy New York, Inc. Mode 1 Communications, Inc. Select Energy Services, Inc. Yankee Energy Financial Services Company Yankee Energy Services Company NorConn Properties, Inc. |
By: | /s/ Patricia C. Cosgel Name: Patricia C. Cosgel Title: Assistant Treasurer-Finance Northeast Utilities Service Company as Agent for all of the above-named Applicants |