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,

)

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 June 30, 2005, 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 June 30, 2005

 

(Thousands
of Dollars)

 

%

 

Common stockholder's equity

   

 

 

  Common stock

$

60,352 

 

1.8 

%

  Capital surplus, paid in

 

536,668 

 

16.5 

 

  Retained earnings

 

356,456 

 

11.0 

 

  Total common stockholder's equity

 

953,476 

 

29.3 

 

Preferred stock

 

116,200 

 

3.6 

 

Long-term and short-term debt

 

1,255,015 

 

38.6 

 

Rate reduction bonds

 

926,870 

 

28.5 

 
 

$

3,251,561 

 

100.0 

%


A common dividend of $13,458,507.15 was declared on June 20, 2005, and was paid to NU on June 30, 2005.




Public Service Company of New Hampshire (PSNH)

As of June 30, 2005

 

(Thousands
of Dollars)

 

%

 

Common stockholder's equity

   

 

 

  Common stock

$

- 

 

- 

%

  Capital surplus, paid in

 

171,289 

 

12.8 

 

  Retained earnings

 

248,872 

 

18.6 

 

  Total common stockholder's equity

 

420,161 

 

31.4 

 

Long-term and short-term debt

 

510,195 

 

38.2 

 

Rate reduction bonds

 

406,068 

 

30.4 

 
 

$

1,336,424 

 

100.0 

%


A common dividend of $6,127,758.00 was declared on June 20, 2005, and was paid to NU on June 30, 2005.


Western Massachusetts Electric Company (WMECO)

As of  June 30, 2005

 

(Thousands
of Dollars)

 

%

 

Common stockholder's equity

   

 

 

  Common stock

$

10,866 

 

2.0 

%

  Capital surplus, paid in

 

80,204 

 

14.8 

 

  Retained earnings

 

80,818 

 

15.0 

 

  Total common stockholder's equity

 

171,888 

 

31.8 

 

Long-term and short-term debt

 

252,023 

 

46.6 

 

Rate reduction bonds

 

116,823 

 

21.6 

 
 

$

540,734 

 

100.0 

%


A common dividend of $1,921,166.26 was declared on June 20, 2005, and was paid to NU on June 30, 2005.


NU Enterprises, Inc. (NUEI)

As of  June 30, 2005

 

(Thousands
of Dollars)

 

%

 

Common stockholder's equity

   

 

 

  Common stock

$

- 

 

- 

%

  Capital surplus, paid in

 

679,756 

 

 65.9 

 

  Retained earnings

 

  (378,527)

 

(36.7)

 

  Total common stockholder's equity

 

301,229 

 

29.2 

 

Long-term and short-term debt

 

  729,851 

 

70.8 

 
 

$

1,031,080 

 

100.0 

%


A common dividend of $8,000,004.41 was declared on June 20, 2005, and was paid to NU on June 30, 2005.


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 June 30, 2005, 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 BBB+, 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 June 30, 2005, internal cash funds available during the quarter, combined with financing activities set forth below, were sufficient to fund each company's normal business operations.  




 



Cash

beginning of

period

04/01/05




Net cash flows

provided by

operating

activities

 



Net cash flows

used in

investing

activities

 


Net cash flows

provided by/

(used in)

financing

activities

 



Cash

end of

period

 06/30/05

 

(Thousands of Dollars)

  

CL&P

$1,185 

 

$30,972 

 

$(62,374)

 

$32,457 

 

$2,240 

 

PSNH

1,434 

 

54,171 

 

(48,874)

 

(6,516)

 

215 

 

WMECO

641 

 

11,350 

 

(6,998)

 

(4,992)

 

1 

 
           




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

     August 25, 2005