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Southern Indiana Gas & Electric Co · U-3A-2 · For 12/31/95

Filed On 2/29/96   ·   Accession Number 92195-96-2   ·   SEC File 69-00329

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  As Of                Filer                Filing    For/On/As Docs:Size

 2/29/96  Southern Indiana Gas & Elec Co    U-3A-2     12/31/95    1:18K

Statement by a Holding Company Claiming Exemption   —   Form U-3A-2
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: U-3A-2      Statement by a Holding Company Claiming Exemption     10±    39K 

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FORM U-3A-2 SECURITIES AND EXCHANGE COMMISSION Washington, D. C. Statement by Holding Company Claiming Exemption Under Rule U-3A-2 from the Provisions of the Public Utility Holding Company Act of 1935 To be filed Annually Prior to March 1 SOUTHERN INDIANA GAS AND ELECTRIC COMPANY hereby files with the Securities and Exchange Commission pursuant to Rule 2 its initial statement claiming exemption as a holding company from the provisions of the Public Utility Holding Company Act of 1935 as a holding company subsidiary of a parent holding company, and submits the following information: 1. Southern Indiana Gas and Electric Company ("SIGECO") is a combination gas and electric utility and a wholly-owned subsidiary of SIGCORP, Inc. ("SIGCORP"), an investor owned holding company. SIGCORP was formed in 1995 under the laws of the State of Indiana by SIGECO. On January 1, 1996, SIGCORP became the parent of SIGECO, pursuant to a corporate reorganization plan and also became the parent of nonutility subsidiaries formerly owned by SIGECO. SIGECO serves customers in 10 southwestern Indiana counties. Nonutility business activities are conducted under separate subsidiaries. SIGECO is an operating public utility incorporated on June 10, 1912 under the laws of the State of Indiana. The Company is located in Evansville, Indiana and is engaged in the generation, transmission, distribution and sale of electricity and the purchase, transportation, distribution and sale of natural gas in southwestern Indiana. SIGECO has interests in the following gas utilities and since January 1, 1996 has no other subsidiaries: A. On December 22, 1986, SIGECO acquired approximately 33% of the outstanding common stock of Community Natural Gas Company, Inc. ("Community"), an Indiana corporation, which is a small Indiana gas distribution company with offices in Mt. Carmel, Illinois. Community conducts its business in southwestern Indiana. B. On June 30, 1994, SIGECO acquired Lincoln Natural Gas Company, Inc. ("LNG"), an Indiana corporation, which is a small gas distribution company serving 1,423 customers in the Rockport, Indiana area. LNG's service territory is contiguous to SIGECO's eastern gas service territory boundary and is within its existing electric service territory. 2. The principal generating facilities of SIGECO include the Culley Station with 386,000 kW of capacity and Warrick Unit No. 4 with 135,000 kW of capacity, both located in Warrick County near Yankeetown, Indiana; and the A. B. Brown Station with 500,000 kW of capacity, located in Posey County about eight miles east of Mt. Vernon, Indiana. These facilities include six coal-fired generating units and have a combined generating capacity of 1,021,000 kW. SIGECO's Broadway Gas Turbine Units, with a capacity of 115,000 kW, are located in Evansville, Vanderburgh County, Indiana. This generating facility is equipped to burn oil and/or natural gas. These units generally are used only for reserve, peaking or emergency purposes due to the higher unit cost per kilowatt hour of generation when using oil or gas as fuel. SIGECO's Brown Gas Turbine I, with capacity of 80,000 kW, is located at the A. B. Brown Station. The unit is fueled by natural gas, although fuel oil can also be used if gas is unavailable. The main function of the gas turbine is generating adequate power during times of peak demand. However, it will also assist in maintaining voltage support on the west end of the system, and it can be used to "black start" the Brown plant if a catastrophe should cause a partial or total system blackout. SIGECO also owns two gas fired turbine generating units with a capacity of 20,000 kW, which are used for peaking and emergency purposes only. These units are known as the Northeast Gas Turbine Units and are located northeast of Evansville, in Vanderburgh County, Indiana. SIGECO's transmission system consists of 797 circuit miles of 138,000 and 69,000 volt lines. The transmission system also includes 26 substations with an installed capacity of 3,860,653 kilovolt amperes. The electric distribution system includes 3,176 pole miles of lower voltage overhead lines and 194 trench miles of conduit containing 1,110 miles of underground distribution cables. The distribution system also includes 87 distribution substations with an installed capacity of 1,602,297 kilovolt amperes and 46,140 distribution transformers with an installed capacity of 1,844,458 kilovolt amperes. SIGECO owns and operates three underground gas storage fields with an estimated ready delivery from storage capability of 3.8 billion cubic feet of gas. The Oliver Field, in service since 1954, is located in Posey County, Indiana, about 13 miles west of Evansville; the Midway Field, in service since 1966, is located in Spencer County, Indiana, about 20 miles east of Evansville near Richland, Indiana; and, the Monroe City Field, in service since 1958, is located 10 miles east of Vincennes, Indiana. SIGECO's gas transmission system includes 335 miles of transmission mains, and the gas distribution system includes 2,348 miles of distribution mains. The only utility property SIGECO owns outside of Indiana is approximately eight miles of 138,000 volt electric transmission line which is located in Kentucky and which interconnects with Louisville Gas and Electric Company's transmission system at Cloverport, Kentucky. Community is a small gas utility that has several noncontiguous service territories in southwestern Indiana. Much of its service territory is adjacent to or near the gas service territory of SIGECO. Community has 6,053 natural gas customers consisting of residential, commercial, industrial and public authority classes of service. Its gas distribution system includes approximately 423 miles of distribution mains. Community has no underground gas storage facilities. LNG is a small gas utility that is contiguous to SIGECO's eastern gas service territory boundary. LNG has 1,423 natural gas customers consisting of residential, commercial and industrial classes of service. Its gas distribution system includes approximately 62 miles of distribution mains. LNG has no underground gas storage facilities. 3. For the year ended December 31, 1995, SIGECO's retail and wholesale electric sales totaled 5,980,890,314 kWh, while its retail and transported gas sales totaled 27,349,815 Dth. SIGECO has no electric or gas retail sales outside the State of Indiana. For this same period, SIGECO had wholesale electric sales of 109,809,000 kWh to utilities and power marketers located outside the state of Indiana. SIGECO had no gas wholesale sales outside of Indiana, or at the state line. During 1995, SIGECO purchased 413,532,000 kWh of power from utilities and power marketers located outside the state of Indiana. For the year ended December 31, 1995, SIGECO's retail gas sales totaled 15,386,284 Dth and 11,963,531 Dth of gas was transported for end users for a total gas sold and transported of 27,349,815 Dth, all of which was distributed within the State of Indiana. For this same period, the Company had no gas wholesale sales. In 1995, SIGECO purchased for its system supply 15,229,051 Dth of natural gas, 100% of its requirements, from 21 spot market gas suppliers. For the year ended December 31, 1995, Community's retail gas sales totaled 801,095 Dth, and 90,736 Dth of gas was transported for end users for a total gas sold and transported of 891,831 Dth, all of which was distributed within the State of Indiana. For this same period, Community had no gas wholesale sales. In 1995, Community received for its system supply 822,653 Dth of natural gas from its four traditional pipeline suppliers, Texas Gas Transmission Corporation, Texas Eastern Corporation, ANR Pipeline and Midwestern Gas. The gas purchased for its system was purchased through a broker. For the year ended December 31, 1995, LNG's retail gas sales totaled 167,468 Dth and 120,307 Dth of gas was transported for end users for a total of 287,775 Dth, all of which was distributed within the State of Indiana. For the same period, LNG had no gas wholesale sales. In 1995, LNG purchased for its system supply 168,001 Dth of natural gas. 4. SIGECO does not hold any interest in an exempt wholesale generator or foreign utility company. Exhibit A: Consolidating statement of income and surplus of SIGECO (and its subsidiary companies) for the year ended December 31, 1995, together with a consolidating balance sheet of SIGECO (and its subsidiary companies) as of the close of such calendar year. As of January 1, 1996, all nonutility subsidiaries of SIGECO became subsidiaries of SIGCORP, Inc. and SIGCORP, Inc. became the parent of SIGECO (See Form U-3A-2 of even date herewith as filed by SIGCORP, Inc.). Exhibit B: Financial data schedule. The above named Company has caused this statement to be duly executed on its behalf by its authorized officer on this 27th day of February, 1996. SOUTHERN INDIANA GAS AND ELECTRIC COMPANY s/a A. E. Goebel A. E. Goebel Senior Vice President, Chief Financial Officer and Secretary and Treasurer ATTEST: s/a L. K. Tiemann L. K. Tiemann Assistant Secretary The name, title and address of the officer to whom notice and correspondence concerning this statement should be addressed is: A. E. Goebel Senior Vice President, Chief Financial Officer and Secretary and Treasurer Southern Indiana Gas and Electric Company 20 N.W. Fourth Street Evansville, Indiana 47741-0001
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EXHIBIT A [Download Table] Southern Indiana Gas and Electric Company Consolidating Trial Balance For Twelve Months Ending December 31, 1995 SIGECO SIPI SIMI ESGI LNG (in thousands) ASSETS Utility Plant at cost: Electric 1,030,890 - - - - Gas 124,166 - - - 887 Accumulated Depreciation (489,924) - - - (402) CWIP 13,750 - - - - Investment in Subsidiaries 37,857 - - - - Investments in leveraged leases - 35,609 - - - Investments inpartnerships - 25,308 - - - Funds held by Trustee 3,642 - - - - Nonutility property & other 2,201 8,799 67 201 - Cash and cash equivalents (2,332) 3,627 433 3,336 21 Cash - Restricted - - - - - Temporary investments - 1,148 - - - Receivables, net 50,693 - - 4,930 193 Notes receivable from assoc. co. 120 2,090 - - - Inventories 34,917 - - - 45 Coal contract settlement 12,928 - - - - Other current assets 4,345 161 38 180 3 Unamortized prem. on reacq. debt 6,142 - - - - Post-retire. ben. oblig. other than pensions 7,795 - - - - Demand side management program 20,337 - - - - Other deferred charges 13,317 62 149 - - 870,844 76,804 687 8,647 747 SHAREHOLDERS' EQUITY AND LIABILITIES Common Stock (78,648) (1,000) (1,361) (1) (107) Additional paid-in capital - (14,200) - (499) - Retained Earnings (236,226) (14,404) 667 (1,166) (326) Unrealized loss on debt and equity sec. - - - - - Treasury stock - - - - - Cumulative nonredeemable preferred stock (11,090) - - - - Cumulative redeemable preferred stock (7,500) - - - - Cumulative special preferred stock (924) - - - - Long-term debt less current mat. (251,604) (5,836) - - - Long-term Partnership Obligations - (6,839) - - - Current por. of adj. rate p. c. bonds (31,500) - - - - Notes payable (30,500) - - - (120) Maturing long-term debt (8,000) (1,906) - - - Maturing Partnership Obligations - (2,786) - - - Accounts payable (32,087) (4) (29) (5,748) (134) Notes payable to Assoc. Company - - - - - Dividends payable (123) - - - - Accrued taxes (10,401) - 239 (1,052) 6 Accrued interest (4,577) - - - - Refunds to customers (8,903) - - - 7 Accrued coal liability - - - - - Other accrued liabilities (17,184) (46) (203) (181) (73) Accumulated deferred income taxes (103,010) (29,783) - - - Accumulated deferred ITC (23,146) - - - - Regulatory liability - FAS 109 (2,977) - - - - Post-retire. ben. oblig. oth. than pensions (9,056) - - - - Other liabilities (3,388) - - - - (870,844) (76,804) (687) (8,647) (747) INCOME STATEMENT Operating Revenues Electric (275,495) - - - - Gas (62,337) - - - - Fuel for electric generation 81,236 - - - - Purchased electric energy 9,332 - - - - Cost of gas sold 39,701 - - - - Other 50,507 - - - - Maintenance 32,058 - - - - Depreciation and amortization 39,279 - - - - Federal and state inc. tax. 18,109 - - - - Property and other taxes 13,651 - - - - AFUDC (other) (380) - - - - Interest (449) - - - - Other, net (4,919) - - - - Interest on long-term debt 18,789 - - - - Amort. of prem., disc. & exp on debt 694 - - - - Other interest 1,221 - - - - AFUDC (borrowed) (621) - - - - Preferred Dividend Req. of Subsidiary 1,099 - - - - Net Income before cumulative effect of accounting change (38,525) - - - - Cumulative effect of accounting change (6,294) - - - - NET INCOME (44,819) - - - - [Download Table] Southern Indiana Gas and Electric Company Consolidating Trial Balance For Twelve Months Ending December 31, 1995 Adjustments & Eliminations ComSource SIGCORP Debits Credits Total ASSETS Utility Plant at cost: Electric - - - - 1,030,890 Gas - - - - 125,053 Accumulated Depreciation - - - - (490,326) CWIP - - - - 13,750 Investment in Subsidiaries - - - 37,857 - Investments in leveraged leases - - - - 35,609 Investments inpartnerships - - - - 25,308 Funds held by Trustee - - - - 3,642 Nonutility property & other 337 - - - 11,605 Cash and cash equivalents 165 584 4,000 - 9,834 Cash - Restricted - - - - - Temporary investments - - - - 1,148 Receivables, net 8 - - 1,781 54,043 Notes receivable from assoc. co. - - - 2,210 - Inventories - - - - 34,962 Coal contract settlement - - - - 12,928 Other current assets 68 - - - 4,795 Unamortized prem. on reacq. debt - - - - 6,142 Post-retire. ben. oblig. other than pensions - - 1,779 - 9,574 Demand side management program - - - - 20,337 Other deferred charges - - 1,159 - 14,687 578 584 - - 923,981 SHAREHOLDERS' EQUITY AND LIABILITIES Common Stock (950) (1) 3,810 - (78,258) Additional paid-in capital - (1,010) 19,709 4,000 - Retained Earnings 236 265 15,570 1,233 (236,617) Unrealized loss on debt and equity sec. - - - - - Treasury stock - - - - - Cumulative nonredeemable preferred stock - - - - (11,090) Cumulative redeemable preferred stock - - - - (7,500) Cumulative special preferred stock - - - - (924) Long-term debt less current mat. - - - - (257,440) Long-term Partnership Obligations - - - - (6,839) Current por. of adj. rate p. c. bonds - - - - (31,500) Notes payable - - 120 - (30,500) Maturing long-term debt - - - - (9,906) Maturing Partnership Obligations - - - - (2,786) Accounts payable 6 - - - (37,996) Notes payable to Assoc. Company - - - - - Dividends payable - - - - (123) Accrued taxes 132 162 2,093 - (8,821) Accrued interest - - - - (4,577) Refunds to customers - - - - (8,896) Accrued coal liability - - - - - Other accrued liabilities (2) - - - (17,689) Accumulated deferred income taxes - - - - (132,793) Accumulated deferred ITC - - - - (23,146) Regulatory liability - FAS 109 - - - - (2,977) Post-retire. ben. oblig. oth. than pensions - - - - (9,056) Other liabilities - - - 1,159 (4,547) (578) (584) - - (923,981) INCOME STATEMENT Operating Revenues Electric - - - - (275,495) Gas - - - 866 (63,203) Fuel for electric generation - - - - 81,236 Purchased electric energy - - - - 9,332 Cost of gas sold - - 602 - 40,303 Other - - 205 - 50,712 Maintenance - - 100 - 32,158 Depreciation and amortization - - 23 - 39,302 Federal and state inc. tax. - - (16) - 18,093 Property and other taxes - - 38 - 13,689 AFUDC (other) - - - - (380) Interest - - - 764 (1,213) Other, net - - 86 81 (4,914) Interest on long-term debt - - - - 18,789 Amort. of prem., disc. & exp on debt - - - - 694 Other interest - - 673 - 1,894 AFUDC (borrowed) - - - - (621) Preferred Dividend Req. of Subsidiary - - - - 1,099 Net Income before cumulative effect of accounting change - - - - (38,525) Cumulative effect of accounting change - - - - (6,294) NET INCOME - - 49,951 49,951 (44,819)
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[Download Table] Southern Indiana Gas and Electric Company Combining Income Statement For Twelve Months Ending December 31, 1995 Com SIGECO SIPI SIMI ESGI LNG Source SIGCORP Total (in thousands) Revenues 337,833 1,868 - 21,160 865 11 - 361,737 Cost of Sales 130,269 - 167 17,584 601 186 - 148,807 GROSS MARGIN ON REVENUES 207,564 1,868 (167) 3,576 264 (175) - 212,930 Operating Expenses 96,216 978 665 1,244 294 189 427 100,013 Depreciation and Amortization 39,279 83 4 52 23 16 - 39,457 Income Taxes 18,109 (2,823) (317) 903 (16) (144) (162) 15,550 OPERATING INCOME 53,960 3,630 (519) 1,377 (37) (236) (265) 57,910 Interest 19,561 674 - - - - - 20,235 Total Other(Income) Deductions (1,855) - - (87) (7) - - (1,949) NET INCOME BEFORE CUMULATIVE EFFECT OF ACCOUNTING CHANGE 36,254 2,956 (519) 1,464 (30) (236) (265) 39,624 CUMULATIVE EFFECT AT JANUARY 1, 1995 OF ADOPTING THE UNBILLED REVENUES METHOD OF ACCOUNTING 6,294 - - - - - - 6,294 NET INCOME 42,548 2,956 (519) 1,464 (30) (236) (265) 45,918 Preferred Stock Dividends 1,099 - - - - - - 1,099 EARNINGS APPLICABLE TO COMMON STOCK 41,449 2,956 (519) 1,464 (30) (236) (265) 44,819
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[Download Table] EXHIBIT B Item No. Caption Heading (in thousands) 1. Total Assets $923,981 2. Total Operating Revenues 338,698 3. Net Income 44,819

Dates Referenced Herein   and   Documents Incorporated By Reference

Referenced-On Page
This U-3A-2 Filing   Date First   Last      Other Filings
6/30/94110-Q, 8-K
1/1/953
For The Period Ended12/31/951310-K405
1/1/961
Filed On / Filed As Of2/29/96
 
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