Bluefield Gas Co · U-3A-2 · For 12/31/97

Filed On 2/26/98   ·   SEC File 69-00389   ·   Accession Number 906504-98-15

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      7     24K 
 2: EX-27       Financial Data Schedule                                1      5K 

U-3A-2   ·   Statement by a Holding Company Claiming Exemption

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            FORM U-3A-2      BLUEFIELD GAS COMPANY
                                 FILE NO. 69-153-3

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                
------------------------------------------                

Bluefield Gas Company ("Bluefield Gas") hereby files with the         
Securities and Exchange Commission, pursuant to Rule 2, its statement           
claiming exemption as a holding company from the provisions of the Public       
Utility Holding Company Act of 1935.  In support of such claim for exemption,   
the following information is submitted:                                         

1.   Bluefield Gas is a natural gas public utility organized and      
existing in good standing under the laws of the State of West Virginia.         
Bluefield Gas distributes natural gas to some 4,297 residential, commercial     
and industrial customers located in the City of Bluefield, West Virginia and    
the immediate surrounding area of Mercer County, West Virginia pursuant to      
certificates of convenience and necessity at rates and charges issued and       
prescribed by the West Virginia Public Service Commission.  Bluefield Gas       
owns all of the issued and outstanding voting securities of Commonwealth        
Public Service Corporation ("Commonwealth"), a Virginia public service          
corporation, providing natural gas service to approximately 961 residential,    
commercial and industrial customers in Bluefield, Virginia and the immediate    
surrounding area in Tazewell County, Virginia pursuant to certificates of       
convenience and necessity at rates and charges issued and prescribed by the     
State Corporation Commission of Virginia.                                       

2.   Bluefield Gas owns a transmission line extending from Princeton, 
West Virginia to Bluefield, West Virginia, and a distribution system within     
the City of Bluefield, West Virginia, and the immediate surrounding area of     
Mercer County, West Virginia.  Natural Gas is purchased from various            
producers and marketers and transported on Columbia Gas Transmission            
Corporation's system to Princeton, West Virginia.  It is then transported on    
Bluefield Gas' transmission line to Bluefield where it is distributed at        
retail to Bluefield Gas customers.  A portion of the gas is sold at the West    
Virginia-Virginia state line to Commonwealth for resale, pursuant to tariff     
on file with the Federal Energy Regulatory Commission, to its customers in      
Bluefield, Virginia and the surrounding area of Tazewell County, Virginia.      

3.   The following information for the last calendar year with respect
to Bluefield Gas and Commonwealth is submitted:                                 

(a)  Bluefield Gas distributed at retail 903,416 MCF of gas 
during the calendar year 1997.  Commonwealth distributed at retail    
264,389 MCF of gas during the calendar year 1997.                     

(b)  Neither Bluefield Gas nor Commonwealth distributed at  
retail natural gas outside the state of its incorporation.            

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   (c)  Commonwealth did not sell at wholesale natural gas outside
the Commonwealth of Virginia.  Bluefield Gas sold 264,389 MCF of      
natural gas at wholesale to Commonwealth at the Virginia-West Virginia
State line.                                                           

(d)  Bluefield Gas purchased 1,220,855 MCF of natural gas   
outside the State of West Virginia.  All such gas was transported to  
Bluefield Gas for resale as system supply by Columbia Gas Transmission
Corporation.  Bluefield Gas transported 20,596 MCF of natural gas to  
its end-users for other marketers.  Commonwealth purchased 264,389 MCF
of natural gas from Bluefield Gas at the Virginia-West Virginia State 
line.                                                                 

4.   (a through e)  Not applicable.  The Company holds no interest,   
directly or indirectly in an exempt wholesale generator (EWG) or foreign        
utility company.                                                                

A consolidating statement of income and surplus and a consolidating   
balance sheet for Bluefield Gas and Commonwealth for the 1997 calendar year     
is attached as Exhibit A and Exhibit A(1).                                      

The above-named claimant has caused this statement to be duly executed
on its behalf by its authorized officer on this 23rd day of February, 1998.     

           BLUEFIELD GAS COMPANY

                   By: s/John B. Williamson, III
[Seal appears here]                   ---------------------------               
                       Its President
(SEAL)                                                                          
ATTEST:                                                                         

s/Roger L. Baumgardner                                                          
-------------------------------                                                 
Secretary                                                   

Notices and correspondence regarding this statement should be addressed to:     

Roger L. Baumgardner                              
Secretary & Treasurer                             
Bluefield Gas Company                             
Post Office Box 13007                             
Roanoke, VA  24030                                

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                                                                              Exhibit A  
                                            Bluefield Gas Company                        
                                       Consolidating Income Statement                    
                                    Twelve Months Ended December 31, 1997                

                                     Bluefield   Commonwealth                            
                                        Gas     Public Service               Consolidated
                                      Company     Corporation  Eliminations     Total    
                                      -------     -----------  ------------     -----    
                                                                                         
OPERATING REVENUES                  $ 6,253,205   $ 1,515,310  $ (1,096,567) $ 6,671,948 
COST OF GAS                           4,753,640     1,081,443    (1,081,443)   4,753,640 
                                     ----------    ----------   -----------   ---------- 
OPERATING MARGIN                      1,499,565       433,867       (15,124)   1,918,308 

OTHER OPERATING EXPENSES:                                                                
  Gas utilities:                                                                         
    Other operations                    626,523       205,575       (15,124)     816,974 
    Maintenance                         124,296        68,620                    192,916 
    Taxes - general                     276,299        62,110                    338,409 
    Taxes - income                       42,893        15,104                     57,997 
    Depreciation and amortization       159,905        50,788                    210,693 
                                     ----------    ----------   -----------   ---------- 
Total other operating expenses        1,229,916       402,197       (15,124)   1,616,989 

OPERATING EARNINGS                      269,649        31,670             -      301,319 

OTHER INCOME AND DEDUCTIONS:                                                             
  Gas utilities:                                                                         
    Interest Income                                                                    - 
    Merchandising and jobbing, net        4,404                                    4,404 
    Other deductions                     (6,132)         (275)                    (6,407)
    Taxes - income                         (620)           94                       (526)
                                     ----------    ----------   -----------   ---------- 
Total other income and deductions        (2,348)         (181)            -       (2,529)

EARNINGS BEFORE INTEREST CHARGES        267,301        31,489             -      298,790 

INTEREST CHARGES:                                                                        
  Gas utilities:                                                                         
    Long-term debt                      105,181                                  105,181 
    Other interest                      106,745         1,656                    108,401 
                                     ----------    ----------   -----------   ---------- 
Total interest charges                  211,926         1,656             -      213,582 

NET EARNINGS                        $    55,375   $    29,833  $          0  $    85,208 
                                     ==========    ==========   ===========   ========== 

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                                                                        Exhibit A(1)
BLUEFIELD GAS COMPANY                                                               
CONSOLIDATING BALANCE SHEET                                                         
DECEMBER 31, 1997                                                                   

                                Bluefield   Commonwealth                            
                                   Gas     Public Service               Consolidated
ASSETS                           Company     Corporation  Eliminations     Total    
------                           -------     -----------  ------------     -----    
                                                                                    
UTILITY PLANT:                                                                      
Utility Plant in Service       $ 5,130,392   $ 1,211,960                $ 6,342,352 
Accumulated Depreciation        (1,823,628)     (391,564)                (2,215,192)
                                ----------    ----------   -----------   ---------- 
Utility Plant in Service, Net    3,306,764       820,396             0    4,127,160 
Construction Work-In-Progress      135,425       126,485                    261,910 
                                ----------    ----------   -----------   ---------- 
Utility Plant, Net               3,442,189       946,881             0    4,389,070 
                                ----------    ----------   -----------   ---------- 
CURRENT ASSETS:                                                                     
Cash and Cash Equivalents           64,047                                   64,047 
Accounts Receivable              1,358,450      (216,002)                 1,142,448 
Inventories                        923,486                                  923,486 
Deferred Income Taxes                                                             0 
Purchased Gas Adjustments          453,304        33,168                    486,472 
Other                               41,034                                   41,034 
                                ----------    ----------   -----------   ---------- 
Total Current Assets             2,840,321      (182,834)            0    2,657,487 
                                ----------    ----------   -----------   ---------- 
OTHER ASSETS                        57,674          (107)         (500)      57,067 
                                ----------    ----------   -----------   ---------- 
TOTAL                          $ 6,340,184   $   763,940        $ (500) $ 7,103,624 
                                ==========    ==========   ===========   ========== 

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                                                                                Exhibit A(1)
BLUEFIELD GAS COMPANY                                                                       
CONSOLIDATING BALANCE SHEET                                                                 
DECEMBER 31, 1997                                                                           

                                       Bluefield   Commonwealth                             
                                          Gas     Public Service               Consolidated 
LIABILITIES                             Company     Corporation  Eliminations     Total     
-----------                             -------     -----------  ------------     -----     
                                                                                            
CAPITALIZATION:                                                                             
Stockholders' Equity:                                                                       
  Common Stock                         $    49,704     $     500       $ (500)  $    49,704 
  Capital in Excess of Par Value           220,564        37,241                    257,805 
  Retained Earnings                      1,380,608       489,798                  1,870,406 
                                        ----------      --------        ------   ---------- 
Total Stockholders' Equity               1,650,876       527,539         (500)    2,177,915 

Long-Term Debt (Less Current Maturities) 1,300,000                                1,300,000 
                                        ----------      --------        ------   ---------- 
Total Capitalization                     2,950,876       527,539         (500)    3,477,915 
                                        ----------      --------        ------   ---------- 
CURRENT LIABILITIES:                                                                        
Current Maturities of Long-Term Debt             0                                        0 
Notes Payable                            2,271,000                                2,271,000 
Accounts Payable                           476,605        34,745                    511,350 
Income Taxes Payable                      (24,022)       105,203                     81,181 
Customers' Deposits                         49,666         9,575                     59,241 
Accrued Expenses                           331,337        11,631                    342,968 
Refunds From Suppliers - Due Customers           0         1,968                      1,968 
Purchased Gas Adjustments                                      0                            
                                        ----------      --------        ------   ---------- 
Total Current Liabilities                3,104,586       163,122            0     3,267,708 

DEFERRED CREDITS AND OTHER LIABILITIES:                                                     
Deferred Income Taxes                      271,139        70,160                    341,299 
Deferred Investment Tax Credits             13,583         3,119                     16,702 
Other Deferred Credits                                                                    0 
                                        ----------      --------        ------   ---------- 
Total Deferred Credits and Other                                                            
  Liabilities                              284,722        73,279            0       358,001 
                                        ----------      --------        ------   ---------- 
TOTAL                                  $ 6,340,184     $ 763,940       $ (500)  $ 7,103,624 
                                        ==========      ========        ======   ========== 

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                                         EXHIBIT B

BLUEFIELD GAS COMPANY               
FINANCIAL DATA SCHEDULE               

Item No.        Caption Heading                                 
--------        ---------------                                 
1            Total Assets                  $7,103,624     
2            Total Operating Revenues       6,671,948     
3            Net Income                        85,208     

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                                         EXHIBIT C

NOT APPLICABLE                                                                  

Dates Referenced Herein   and   Documents Incorporated By Reference

				Referenced-On Page
This U-3A-2 Filing		Date		First		Last			Other Filings
For The Period Ended		12/31/97		3		5
Filed On / Filed As Of		2/26/98
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