Certificate 70-9541




File No. 70-9541



UNITED STATES OF AMERICA

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549



Application of Northeast Utilities,

)

 

The Connecticut Light and Power Company,

)

 

Public Service Company of New Hampshire,

)

 

Western Massachusetts Electric Company,

)

 

NU Enterprises, Inc.,

)

CERTIFICATE PURSUANT TO RULE 24

Northeast Generation Company,

)

UNDER THE PUBLIC UTILITY HOLDING

Northeast Generation Services Company, Inc.

)

COMPANY ACT OF 1935

Select Energy, Inc.,

)

 

Select Energy Services, Inc.,

)

 

Select Energy Contracting, Inc.,

)

 

Reeds Ferry Supply Co., Inc.,

)

 

on Form U-1

)

 
   



Pursuant to the requirements of Rule 24 under the Public Utility Holding Company Act of 1935, Northeast Utilities ("NU"), a registered holding company, hereby files this quarterly report as required by the Securities and Exchange Commission's order authorizing the payment of dividends out of capital or unearned surplus and/or the repurchase of capital stock.  (HCAR No. 35-27147, March 7, 2000, File No. 70-9541) ("Order").  


For the quarter ended December 31, 2004, the following information is reported pursuant to the Order:


1)

A total capitalization calculation to include a breakdown of the common stock equity account and by percentage for each equity and debt category for the period ending for each Applicant that indicates the amount, if any, of dividends paid to NU and/or the amount of repurchased stock from NU during the quarter; total capitalization is to include all short-term debt and current maturities.


The Connecticut Light and Power Company (CL&P)

As of December 31, 2004

 

(Thousands
of Dollars)

 

%  

 

Common shareholder's equity

   

 

 

  Common shares

$

60,352 

 

2.0 

%

  Capital surplus, paid in

 

414,764 

 

13.4 

 

  Retained earnings

 

347,176 

 

11.2 

 

  Total common shareholder's equity

 

822,292 

 

26.6 

 

Preferred stock

 

116,200 

 

3.8 

 

Long-term and short-term debt

 

1,157,916 

 

37.4 

 

Rate reduction bonds

 

995,233 

 

32.2 

 
 

$

3,091,641 

 

100.0 

%


A common dividend of $11,768,649.75 was declared on December 15, 2004, and was paid to NU on December 30, 2004.







Public Service Company of New Hampshire (PSNH)

As of December 31, 2004

 

(Thousands
of Dollars)

 

%  

 

Common shareholder's equity

   

 

 

  Common shares

$

- 

 

- 

%

  Capital surplus, paid in

 

156,422 

 

11.9 

 

  Retained earnings

 

243,277 

 

18.5 

 

  Total common shareholder's equity

 

399,699 

 

30.4 

 

Long-term and short-term debt

 

487,590 

 

37.0 

 

Rate reduction bonds

 

428,769 

 

32.6 

 
 

$

1,316,058 

 

100.0 

%


A common dividend of $8,999,999.33 was declared on December 15, 2004, and was paid to NU on December 30, 2004.


Western Massachusetts Electric Company (WMECO)

As of  December 31, 2004

 

(Thousands
of Dollars)

 

%  

 

Common shareholder's equity

   

 

 

  Common shares

$

10,866 

 

2.0 

%

  Capital surplus, paid in

 

76,041 

 

14.2 

 

  Retained earnings

 

    77,565 

 

14.5 

 

  Total common shareholder's equity

 

164,472 

 

30.7 

 

Long-term and short-term debt

 

248,584 

 

46.4 

 

Rate reduction bonds

 

122,489 

 

22.9 

 
 

$

535,545 

 

100.0 

%


A common dividend of $1,621,255.69 was declared on December 15, 2004, and was paid to NU on December 30, 2004.


There were no other dividends paid to NU and/or repurchased stock from NU for the other applicants during this quarter.


2)

The current senior debt rating of each Applicant to include a representation that the rating is at or above investment grade.  


As of December 31, 2004, the senior secured (or, in the case of WMECO, senior unsecured) debt ratings issued by Standard and Poor's Corporation of CL&P, PSNH and WMECO are A-, BBB+ and BBB+, respectively.  Each company represents that such ratings are “investment grade” ratings.


3)

The amount of cash-on-hand both during the quarter and as of the end of each quarter for CL&P, PSNH  and WMECO to include a representation as to whether internal cash funds available during the quarter were sufficient to fund each company's normal business operations or had to be supplemented with borrowings from working capital facilities.  


NU represents that during the quarter ended December 31, 2004, internal cash funds available during the quarter, confirmed with financing activities set forth below, were sufficient to fund each company's normal business operations.  







 



Cash

beginning of

period

10/01/04



Net cash flows

provided by/

(used in)

 operating

activities

 


Net cash flows

(used in)/

provided by

investing

activities

 


Net cash flows

(used in)/

provided by

financing

activities

 



Cash

end of

period

 12/31/04

  
 

(Thousands of Dollars)

  

CL&P

$23,132 

 

$28,005 

 

$(44,972)

 

$(557)

 

$5,608 

 

PSNH

1,435 

 

59,922 

 

(17,247)

 

(39,255)

 

4,855 

 

WMECO

1 

 

12,341 

 

(15,954)

 

5,290 

 

1,678 

 
           









SIGNATURE



Pursuant to the requirements of the Public Utility Holding Company Act of 1935, the undersigned company has duly caused this certificate to be signed on its behalf by the undersigned thereunto duly authorized.




NORTHEAST UTILITIES

(Registered Holding Company)

 

/s/ John P. Stack


     John P. Stack

     Vice President - Accounting and Controller

     Northeast Utilities

     P.O. Box 270

     Hartford, CT 06141-0270

     February 25, 2005