SEC File No. 70-9793
And
SEC FILE NO. 70-9941
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
CERTIFICATE PURSUANT TO
RULE 24
OF PARTIAL COMPLETION OF
TRANSACTIONS
FirstEnergy Corp.
------------------------------------
:
In the matter of :
FirstEnergy Corp. : Certificate Pursuant
: to Rule 24 of Partial
: Completion of
: Transactions
SEC File No. 70-9793 :
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TO THE MEMBERS OF THE SECURITIES AND EXCHANGE COMMISSION:
The undersigned, FirstEnergy Corp. (FirstEnergy) hereby certifies pursuant to Rule 24 of the Rules and Regulations under the Public Utility Holding Company Act of 1935 (the Act), that certain of the transactions proposed in the Applications, as filed in SEC File No. 70-9793 and SEC File No. 70-9941, respectively, have been carried out in accordance with the Commission's Orders dated with respect to the said Applications as follows:
1. Balance Sheets and Income Statements for the FirstEnergy Nonutility Holding Company and its consolidated Subsidiaries for the quarter ended September 30, 2002 are attached as following exhibits:
Exhibit
-------
1-1 Consolidated Balance Sheet and Income Statement of FirstEnergy
Ventures Corp.
1-2 Consolidated Balance Sheet and Income Statement of FirstEnergy
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Facilities Services Group, LLC.
1-3 Balance Sheet and Income Statement of OES Ventures, Inc. - filed
pursuant to request for confidential treatment.
1-4 Balance Sheet and Income Statement of Centerior Communications
Holdings, Inc. - filed pursuant to request for confidential treatment.
1-5 Consolidated Balance Sheet and Income Statement of E-L Enterprises,
Inc. - filed pursuant to request for confidential treatment.
1-6 Consolidated Balance Sheet and Income Statement of MARBEL HoldCo, Inc.
- filed pursuant to request for confidential treatment.
Balance Sheet and Income Statement of GPU Diversified Holdings LLC are reported on Form U-9C-3.
2. During the period July 1, 2002 through September 30, 2002, there was no Development Activity. Investments made during the third quarter 2002 are as follows:
Category Investment
-------- ----------
(In Thousands $)
Rule 58 Subsidiaries $11,100
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3. During the third quarter of 2002, the following guarantees were made by FirstEnergy on behalf of other direct or indirect Subsidiaries of the FirstEnergy Nonutility Holding Companies.
Purpose of
Beneficiary Amount Terms Guarantee
----------- ------ ----- ---------
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(a) Credit backstop to revolving credit agreement
The following Letters of Credits (LOC) were issued during the third quarter
of 2002:
Purpose of
Beneficiary Amount LOC
----------- ------ ----------
FEFSG
-----
Old Republic Insurance Company $11,653,434 (a)
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(a) Collateral for insurance program
4. During the third quarter of 2002, there were no services obtained by the FirstEnergy Nonutility Holding Companies, or any direct or indirect Subsidiary of the Nonutility Holding Companies from the Utility Subsidiaries.
5. A chart of the nonutility businesses, financing subsidiaries and nonsystem securities in which FirstEnergy and its subsidiaries are engaged in or have investments in of 10% or greater are identified below:
Type of
Name of Company Subsidiary % Ownership
--------------- ---------- -----------
Ohio Edison Company (Ohio Edison) US 100
OES Capital, Inc. FS 100
OES Finance, Inc. FS 100
OES Fuel, Inc. ERC 100
OES Nuclear, Inc. FS 100
OES Ventures, Inc. NUHC 100
Ohio Edison Financing Trust FS 100
Ohio Edison Financing Trust II (Inactive) FS 100
Pennsylvania Power Company (Penn Power) US 100
Cranberry Square Associates, L.P. RES 50
McDonald Corporate Tax Credit Fund Limited Partnership RES 12.37
McDonald Ohio Tax Credit Fund-1996 Limited Partnership RES 42.13
McDonald Ohio Tax Credit Fund-1998 Limited Partnership RES 30.94
Apollo Tax Credit Fund III, L.P. RES 33.33
Apollo Tax Credit Fund IX, L.P. RES 99.99
Boston Capital Corporate Tax Credit Fund X, L.P. RES 10.93
Boston Capital Corporate Tax Credit Fund XIV, L.P. RES 14
Boston Capital Corporate Tax Credit Fund XVII, L.P. RES 99
Marion Senior Housing Limited Partnership RES 29.21
First Communications, LLC ETC 31.08
The Cleveland Electric Illuminating Company US 100
Cleveland Electric Financing Trust I FS 100
Centerior Funding Corporation FS 100
The Toledo Edison Capital Corporation FS 10
The Toledo Edison Company (Toledo Edison) US 100
The Toledo Edison Capital Corporation FS 90
American Transmission Systems, Incorporated (ATSI) US 100
FirstEnergy Solutions Corp. (FirstEnergy Solutions) ERC 100
FirstEnergy Generation Corp. (GenCo) EWG 100
FirstEnergy Engineering, Inc. ERC 100
FirstEnergy Nuclear Operating Company (FENOC) ERC 100
GPU Nuclear, Inc. (GPUN) ERC 100
Private Fuel Storage LLC ERC 10.1
FirstEnergy Ventures Corp. (FirstEnergy Ventures) NUHC 100
Advanced Technologies Development Corp. ETC 100
Bay Shore Power Company ERC 100
2
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Type of
Name of Company Subsidiary % Ownership
--------------- --------- -----------
Centerior Communications Holdings, Inc. NUHC 100
Fiber Venture Equity, Inc. (Inactive) ETC 100
AFN Finance Company No. 3, LLC ETC 100
Centerior Energy Services, Inc. ERC 100
Centerior Power Enterprises, Inc. (Inactive) 100
FirstEnergy Telecommunications Corp. ETC 100
Warrenton River Terminal, Ltd. ERC 100
Engineered Processes, Ltd. ERC 50
Eastroc Technologies, LLC ERC 50
FE Acquisition Corp. (Inactive) NUHC 100
Mid-Atlantic Energy Development Co. (Inactive) 100
FirstEnergy Properties, Inc. (FirstEnergy Properties) RES 100
BSG Properties, Inc. (Inactive) RES 100
FirstEnergy Facilities Services Group, LLC (FE Facilities) NUHC 100
Ancoma, Inc. ERC 100
Colonial Mechanical Corporation ERC 100
Dunbar Mechanical, Inc. ERC 100
Edwards Electrical & Mechanical, Inc. ERC 100
Elliott-Lewis Corporation ERC 100
Sautter Crane Rental, Inc. ERC 100
A.A. Duckett, Inc. ERC 100
E-L Enterprises, Inc. NUHC 100
Modern Air Conditioning, Inc. ERC 100
Airdex Air Conditioning Corporation ERC 100
R.L. Anderson, Inc. ERC 100
The Hattenbach Company ERC 100
L.H. Cranston and Sons, Inc. ERC 100
Roth Bros., Inc. ERC 100
R.P.C. Mechanical, Inc. ERC 100
Spectrum Controls Systems ERC 100
Webb Technologies, Inc. ERC 100
MARBEL Energy Corporation (MARBEL) ERC 100
Marbel HoldCo, Inc. NUHC 100
Great Lakes Energy Partners, LLC ERC 50
Northeast Ohio Natural Gas Corp. ERC 100
PowerSpan Corp. ERC 18.63
Kinetic Ventures I, LLC ERC 11.11
Kinetic Ventures II, LLC ERC 14.28
The Alliance Participants Administrative and Startup
Activities Company, LLC ERC 10
FirstEnergy Service Company (ServeCo) ERC 100
GPU Service, Inc. (GPUS) ERC 100
FirstEnergy Securities Transfer Company FS 100
FELHC, Inc. ERC 100
Centerior Indemnity Trust (Inactive) 100
Centerior Service Company (Inactive) 100
FE Holdings, L.L.C. (Inactive) -
Jersey Central Power & Light Company (JCP&L) US 100
JCP&L Preferred Capital, Inc. FS 100
JCP&L Capital L.P. FS 100
JCP&L Transition Funding, LLC FS 100
Saxton Nuclear Experimental Corporation ERC 44
Metropolitan Edison Company (Met-Ed) US 100
York Haven Power Company US 100
Met-Ed Preferred Capital II, Inc. FS 100
Met-Ed Capital II, L.P. FS 100
Met-Ed Capital Trust FS 100
Saxton Nuclear Experimental Corporation ERC 32
Pennsylvania Electric Company (Penelec) US 100
Nineveh Water Company ERC 100
3
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Type of
Name of Company Subsidiary % Ownership
--------------- ---------- -----------
The Waverly Electric Light and Power Company US 100
Penelec Preferred Capital II, Inc. FS 100
Penelec Capital II, L.P. FS 100
Penelec Capital Trust FS 100
Saxton Nuclear Experimental Corporation ERC 24
GPU Advanced Resources, Inc. (GPU AR) ERC 100
AFN Finance Company No. 1, LLC ETC 100
GPU Telcom Services, Inc. (GPU Telcom) ETC 100
MYR Group Inc. (MYR) ERC 100
The L. E. Myers Company ERC 100
Hawkeye Construction, Inc. ERC 100
MYRcom, Inc. ERC 100
MYRpower, Inc. ERC 100
Great Southwestern Construction, Inc. ERC 100
Harlan Electric Company ERC 100
Sturgeon Electric Company, Inc. ERC 100
ComTel Technology, Inc. ERC 100
Power Piping Company ERC 100
D.W.Close Company, Inc. ERC 100
GPU Diversified Holdings LLC (GPUDH) NUHC 100
GPU Solar, Inc. ERC 50
GPU EnerTech Holdings, Inc. ERC 100
GPU Distributed Power, Inc. ERC 100
Ballard Generation Systems Inc. ERC 12
GPU Power, Inc. (GPU Power) EWG 100
Guaracachi America, Inc. EWG 100
Empresa Guaracachi S.A. EWG 50
EI Barranquilla, Inc. EWG 100
Termobarranquilla, S.A. EWG 28.67
Barranquilla Lease Holding, Inc. EWG 100
Los Amigos Leasing Company, Ltd. EWG 100
EI International EWG 100
GPUI Colombia, Ltda. EWG 100
GPU Power Philippines, Inc. EWG 100
Magellan Utilities Development Corporation EWG 40
Hanover Energy Corporation (Inactive) EWG 100
International Power Advisors, Inc. EWG 100
EI Canada Holding Limited EWG 100
EI Services Canada Limited EWG 100
EI Brooklyn Power Limited EWG 100
EI Brooklyn Investments Limited EWG 100
Brooklyn Energy Limited Partnership EWG 75
NCP Ada Power, Inc. (Inactive) EWG 100
NCP Energy, Inc. EWG 100
Syracuse Orange Partners LP EWG -
GPU Capital, Inc. (GPU Capital) FUCO 100
GPU Electric, Inc. (GPU Electric) FUCO 100
GPU Argentina Holdings, Inc. FUCO 100
GPU Argentina Services S.R.L. FUCO 100
GPU Empresa Distribuidora Electrica FUCO -
Regional, S.A. (EMDERSA) FUCO 100
GPU Australia Holdings, Inc. FUCO 100
VicGas Holdings, Inc. FUCO 100
Victoria Electric Holdings, Inc. FUCO 100
Victoria Electric, Inc. FUCO 100
Austran Holdings, Inc. FUCO 100
GPU International Australia Pty Ltd. FUCO 100
4
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Type of
Name of Company Subsidiary % Ownership
--------------- --------- -----------
EI UK Holdings, Inc. FUCO 100
Aquila Sterling Holdings LLC FUCO 20.1*
Avon Energy Partners Holdings FUCO 100
Midlands Electricity plc FUCO 100
UMICO Holdings, Inc. (Inactive) 36
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* EI UK Holdings, Inc. owns 50% voting (20.1% economic) interest in Aquila Sterling Holding LLC.
ERC - Energy Related Activity ETC - Exempt Telecommunications Company EWG - Exempt Wholesale Generator FS - Financing Subsidiary |
FUCO - Foreign Utility Company
NUHC - Nonutility Holding Company
RES - Real Estate
US - Utility Subsidiary
6. During the third quarter of 2002, there were no securities (including guarantees) issued by the FirstEnergy Nonutility Holding Companies and each Non-Exempt Subsidiary pursuant to Rule 52 or Rule 45(b), as applicable.
7. During the period July 1, 2002 through September 30, 2002, there were no Anticipatory Hedge transaction entered into by any FirstEnergy Nonutility Holding Company, or any direct or indirect Non-Exempt Subsidiary of the Nonutility Holding Company.
SIGNATURE
The undersigned registered holding company has duly caused this quarterly report to be signed on its behalf by the undersigned officer thereunto duly authorized pursuant to the requirements of the Public Utility Holding Company Act of 1935.
FIRSTENERGY CORP.
November 26, 2002
By: /s/ Harvey L. Wagner
-------------------------------------
Harvey L. Wagner
Vice President, Controller
and Chief Accounting Officer
(Principal Accounting Officer)
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1-1 Consolidated Balance Sheet and Income Statement of FirstEnergy Ventures Corp.
1-2 Consolidated Balance Sheet and Income Statement of FirstEnergy Facilities Services Group, LLC.
A Certificate of FirstEnergy Corp.
Exhibit 1-1
ASSETS
CURRENT ASSETS:
Cash and cash equivalents $ 657
Receivables:
Customers -
Associated companies 11,529
Other 4,081
Notes receivable from associated companies 22,901
Material and supplies 5,182
Prepayments and other 2,146
--------
46,496
PROPERTY, PLANT AND EQUIPMENT:
In service 208,881
Less: Accumulated provision for depreciation 2,971
--------
205,910
Construction work in progress 2,565
--------
208,475
INVESTMENTS:
Pension investments -
Other 20,690
--------
20,690
DEFERRED CHARGES:
Goodwill 67
Accumulated deferred income taxes assets 192
Other 4,180
--------
4,439
TOTAL ASSETS $ 280,100
========
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LIABILITIES & STOCKHOLDER'S EQUITY
CURRENT LIABILITIES:
Currently payable long-term debt $ 2,759
Notes payable to associated companies 7,164
Accounts payable
Other 1,083
Associated companies 2,799
Accrued taxes 175
Accrued interest 745
Other 522
--------
15,247
CAPITALIZATION:
Common stockholders' equity 119,683
Long-term debt 141,142
--------
260,825
DEFERRED CREDITS:
Accumulated deferred income taxes -
Accumulated deferred investment tax credits -
Other 4,028
--------
4,028
TOTAL LIABILITIES & CAPITALIZATION $ 280,100
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Exhibit 1-1
Three Months Nine Months
Ended Ended
Sept 30,2002 Sept 30, 2002
------------ -------------
REVENUES $ 9,095 $ 22,792
EXPENSES:
Other operating expenses 3,767 21,966
Provision for depreciation
and amortization 324 938
General taxes 77 152
------ ------
Total expenses 4,168 23,056
------ ------
INCOME/(LOSS) BEFORE INTEREST
& INCOME TAXES 4,927 (264)
NET INTEREST CHARGES:
Interest expenses 2,408 7,637
Capitalized interest - (450)
------- ------
Net interest charges 2,408 7,187
------- ------
INCOME TAXES 1,534 (3,047)
------- ------
NET INCOME/(LOSS) $ 985 $ (4,404)
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Exhibit 1-2
ASSETS
CURRENT ASSETS:
Cash and cash equivalents $ 22,275
Receivables:
Customers -
Associated companies -
Other 154,896
Notes receivable from associated companies -
Material and supplies 8,255
Prepayments and other 2,681
--------
188,107
INVESTMENTS:
Nonutility property, net 37,244
Other 4,682
--------
41,926
DEFERRED CHARGES:
Goodwill 194,956
Accumulated deferred income taxes assets -
Other -
--------
194,956
TOTAL ASSETS $ 424,989
========
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LIABILITIES & STOCKHOLDER'S EQUITY
CURRENT LIABILITIES:
Currently payable long-term debt $ 1,697
Short-term borrowings 1,853
Notes payable to associated companies 33,575
Accounts payable
Other 64,645
Associated companies 364
Accrued taxes 7,891
Accrued interest -
Other 25,092
--------
135,117
CAPITALIZATION:
Common stockholders' equity 268,190
Long-term debt 11,775
--------
279,965
DEFERRED CREDITS:
Accumulated deferred income taxes 3,644
Other 6,263
--------
9,907
TOTAL LIABILITIES & CAPITALIZATION $ 424,989
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Exhibit 1-2
Three Months Nine Months
Ended Ended
Sept 30,2002 Sept 30, 2002
------------ -------------
REVENUES $ 146,199 $ 401,234
Direct costs of revenue 126,104 345,650
------- -------
Gross profit 20,095 55,584
Selling, general and administrative
expenses 10,974 43,266
Depreciation 1,683 5,121
Accrual for loss contracts - -
------- -------
Operating income before goodwill
and purchase agreement incentive plans 7,438 7,197
Purchase agreement incentive plans 334 828
------- -------
Operating income 7,104 6,369
Interest income 334 983
Interest expense (688) (2,027)
Gain/(loss) on sale of fixed assets (159) (279)
Other income 176 511
------- -------
Total other income/(expense) (337) (812)
------- -------
Income before income taxes 6,767 5,557
Provision for income taxes 2,752 2,594
------- -------
Net income $ 4,015 $ 2,963
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Exhibit A
FirstEnergy Corp.
76 South Main Street, Akron, Ohio 44308
Pursuant to the requirements of Rule 24 of the Public Utility Holding Company Act of 1935, the undersigned certifies that:
A copy of certificate pursuant to Rule 24 related to FirstEnergy Corp.'s financing activities, for the period ended June 30, 2002, was filed with the state commissions having jurisdiction over the electric retail rates of the company's public utility subsidiary companies.
The names and addresses of these state commissions are as follows:
New Jersey Division of Energy
Board of Public Utilities
Two Gateway Center
Newark, NJ 07102
Commonwealth of Pennsylvania*
Public Utility Commission
P.O. Box 3265
Harrisburg, PA 17105-3265
The Public Utilities Commission of Ohio*
180 E. Broad Street
Columbus, Ohio 43215-3793
* A conformed copy of the publicly available report was filed with the Pennsylvania Public Utility Commission and The Public Utilities Commission of Ohio.
FirstEnergy Corp.
November 26, 2002
By: /s/ Harvey L. Wagner
-------------------------------------
Harvey L. Wagner
Vice President, Controller
and Chief Accounting Officer
(Principal Accounting Officer)
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Note: Pennsylvania Electric Company (Penelec) is also subject to retail rate regulation by the New York Public Service Commission with respect to retail service to approximately 3,700 customers in Waverly, New York served by Waverly Electric Power & Light Company, a Penelec subsidiary. Waverly Electric's revenues are immaterial, accounting for less than 1% of Penelec's total operating revenues.