SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
Form U-3A-2
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
ENOVA CORPORATION
hereby files with the Securities 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, and
submits the following information:
1. NAME, STATE OF ORGANIZATION, LOCATION AND NATURE OF BUSINESS OF
CLAIMANT AND EVERY SUBSIDIARY THEREOF, OTHER THAN ANY EXEMPT WHOLESALE
GENERATOR (EWG) OR FOREIGN UTILITY COMPANY IN WHICH CLAIMANT DIRECTLY OR
INDIRECTLY HOLDS AN INTEREST.
Enova Corporation ("Claimant") is a corporation organized and
existing under the laws of the State of California. Claimant is a
holding company, organized to acquire and hold securities of other
corporations. Claimant's principal place of business is 101 Ash Street,
San Diego, California. Its mailing address is Post Office Box 129400,
San Diego, California 92112-4150. Claimant has the following
subsidiaries:
A. San Diego Gas & Electric Company ("SDG&E") is a public utility
organized and existing as a corporation under the laws of the State of
California. SDG&E is a wholly owned subsidiary of Claimant. SDG&E is
primarily engaged in the business of distributing electric energy in a
portion of Orange County, California and distributing electric energy
and natural gas in San Diego County, California. SDG&E's principal
place of business is 101 Ash Street, San Diego, California. Its mailing
address is Post Office Box 1831, San Diego, California 92112-4150.
B. Pacific Diversified Capital Company ("PDCC") is an independently-
operated holding company organized and existing as a corporation under
the laws of the State of California. PDCC is a wholly-owned subsidiary
of SDG&E. PDCC owns Enova Technologies, Inc., Phase One
Development, Inc. and Phase One Construction, Inc. (inactive). PDCC's
principal place of business is 101 Ash Street, San Diego, California
92101.
- -------------------------------
Claimant anticipates that SDG&E will dividend the stock of PDCC,
along with the stock of SDG&E's other subsidiaries referenced below, to
Claimant in the next few months.
(1) Phase One Development, Inc. ("Phase One") is a corporation
organized and existing under the laws of the State of California. Phase
One is in the business of owning and developing real property for
residential and commercial purposes. Phase One's principal place of
business is 101 Ash Street, San Diego, California 92101.
(2) Phase One Construction, Inc. is an inactive corporation
organized and existing under the laws of the State of California. Its
principal offices are located at 101 Ash Street, San Diego, California
92101.
(3) Enova Technologies, Inc. ("ETI") is a corporation, organized
and existing under the laws of the State of California. ETI is a
wholly-owned subsidiary of PDCC. ETI is in the business of developing
new technologies generally related to the utility and energy business.
ETI's principle place of business is 101 Ash Street, San Diego,
California 92101.
C. Enova Financial, Inc. ("Enova Financial") is a corporation
organized and existing under the laws of the State of California. Enova
Financial is a wholly-owned subsidiary of SDG&E. Enova Financial's
principal business is investing as a limited partner in affordable-
housing projects located throughout the country. Enova Financial's
principal place of business is 101 Ash Street, San Diego, California
92101.
D. Califia Company ("Califia") is a corporation organized and existing
under the laws of the State of California. Except for an immaterial
number of shares of non-voting preferred stock, Califia is a wholly-
owned subsidiary of SDG&E. Califia is an equipment leasing company,
specializing in leasing computer equipment. Califia's principal place
of business is 101 Ash Street, San Diego, California 92101.
E. Enova Energy Management, Inc. ("EEMI") is a corporation, organized
and existing under the laws of the State of California. EEMI is a
wholly-owned subsidiary of SDG&E. EEMI is an energy management
consulting firm. EEMI's primary business is resource management
(including generation, purchased power and transmission) and fuel and
power procurement for utilities and large end users. EEMI's principal
place of business is 12555 High Bluff Drive, Suite 155, San Diego,
California 92130.
2. A BRIEF DESCRIPTION OF THE PROPERTIES OF CLAIMANT AND EACH OF ITS
SUBSIDIARY PUBLIC UTILITY COMPANIES USED FOR THE GENERATION,
TRANSMISSION, AND DISTRIBUTION OF ELECTRIC ENERGY FOR SALE, OR FOR THE
PRODUCTION, TRANSMISSION, AND DISTRIBUTION OF NATURAL OR MANUFACTURED
GAS, INDICATING THE LOCATION OF PRINCIPAL GENERATING PLANTS,
TRANSMISSION LINES, PRODUCING FIELDS, GAS MANUFACTURING PLANTS, AND
ELECTRIC AND GAS DISTRIBUTION FACILITIES, INCLUDING ALL SUCH PROPERTIES
WHICH ARE OUTSIDE THE STATE IN WHICH CLAIMANT AND ITS SUBSIDIARIES ARE
ORGANIZED AND ALL TRANSMISSION OR PIPELINES WHICH DELIVER OR RECEIVE
ELECTRIC ENERGY OR GAS AT THE BORDERS OF SUCH STATE.
2
Claimant is not a "public utility company" for the purposes of the
Public Utilities Holding Company Act of 1935 (the "Act"), and does not
own any such properties.
SDG&E Electric Utility Properties:
- ---------------------------------
SDG&E operates nine oil and gas-fueled generating units, with net
capability of 1,641 MW, located in San Diego County. The four South Bay
units (690 MW), located in the City of Chula Vista, went into operation
between 1960 and 1971; the five Encina units (951 MW), located in the
City of Carlsbad, went into operation between 1954 and 1978. SDG&E owns
100% of all of these units except Encina 5 (330 MW), which SDG&E sold
and leased back in 1978, with a lease term through 2004 and renewal
options for up to 15 additional years. SDG&E owns 19 gas-fired
combustion turbines with net capability of 332 MW, which were placed in
service from 1966 to 1979; these turbines are located at various sites
in San Diego County and are used only for emergency and peak demand.
SDG&E owns 20% of the three nuclear units at San Onofre Nuclear
Generating Station ("SONGS 1, 2 and 3"), located in San Diego County,
south of San Clemente at the United States' Camp Pendleton Marine Base.
SONGS 1, 2 and 3 are primarily owned and operated by Southern California
Edison Company ("Edison"). SONGS 1 has been permanently shut down.
SDG&E's share of SONGS 2 and 3 amounts to an aggregate of 430 MW. SDG&E
owns another 230 MW diesel and gas-fueled plant in San Diego County
which is in storage and is not expected to return to service.
SDG&E's transmission facilities consist of transmission lines and
transmission substations operating at various voltages from 69 kV
(69,000 Volts) upwards to 500 kV. SDG&E owns the transmission
facilities located in the area in which it serves (San Diego County and
a contiguous portion of Southern Orange County), as well as all or
portions (specified below) of the three segments of the Southwest
PowerLink (SWPL), a 500 kV transmission line extending from SDG&E's
Miguel Substation in Southern San Diego County to the Palo Verde Nuclear
Generating Station (PVNGS) west of Phoenix, Arizona, via two
intermediary substations at Imperial Valley, California and North Gila,
Arizona.
SDG&E's transmission system consists of the following:
- 500 kV: 279.00 circuit-miles (159.0 miles in
California, 120.0 miles in Arizona)
- 230 kV: 358.45 circuit-miles (all in California)
- 138 kV: 317.57 circuit-miles (all in California)
- 69 kV: 938.03 circuit-miles (all in California)
SDG&E is interconnected to various utilities for the purpose of
buying and selling electric power and energy, as well as for mutual
reliability. SDG&E is interconnected with Edison at the San Onofre 230
kV bus. SDG&E's system connects to the Mexico utility Comision Federal
de Electricidad (CFE) via two 230 kV transmission lines, one from Miguel
Substation to Tijuana Substation and the other from Imperial Valley
Substation to La Rosita Substation (each line owned by SDG&E on the U.S.
side of the international border). The Miguel-Imperial Valley segment
of the SWPL (100% owned by SDG&E) provides an
3
interconnection to the system of Imperial Irrigation District (IID); the
Imperial Valley-North Gila segment of the SWPL (85.64% owned by SDG&E)
provides an interconnection with Arizona Public Service (APS); and the
North Gila-Palo Verde segment of the SWPL (76.22% owned by SDG&E)
provides the final leg for accessing power at the Palo Verde 500 kV bus,
at which power from various sources can be obtained by SDG&E. All the
substations at these interconnections are jointly owned by SDG&E and the
respective interconnected utilities.
SDG&E's distribution facilities consist of approximately 8,700
circuit miles of overhead lines and 9,100 circuit miles of underground
lines located in San Diego and Orange Counties.
SDG&E Gas Utility Properties:
- ----------------------------
SDG&E owns and operates facilities used for the distribution at
retail of natural gas for heat, light and power in San Diego County.
SDG&E's natural gas facilities are located in San Diego and Riverside
Counties. Gas facilities consist of transmission facilities (compressor
stations of 16,900 horsepower in Moreno and of 3,080 horsepower in
Rainbow), 147 miles of high-pressure transmission pipelines,
approximately 6,500 miles of high-pressure and low-pressure distribution
mains and approximately 5,400 miles of service lines. All natural gas
is delivered to SDG&E under a transportation and storage agreement with
Southern California Gas Company through two transmission pipelines and
one distribution pipeline, owned by Southern California Gas, with a
combined capacity of 525 million cubic feet per day.
3. Information for calendar year 1995 with respect to claimant and
each of its subsidiary public utility companies:
(a). NUMBER OF KWH. OF ELECTRIC ENERGY SOLD (AT RETAIL OR WHOLESALE),
AND MCF. OF NATURAL OR MANUFACTURED GAS DISTRIBUTED AT RETAIL.
Electric(kwh) Gas(Mcf)
Claimant: None
SDG&E: Retail: 15,513,879,684 112,865,260
Wholesale: 393,345,000 N/A
(b). NUMBER OF KWH. OF ELECTRIC ENERGY AND MCF. OF NATURAL OR
MANUFACTURED GAS DISTRIBUTED AT RETAIL OUTSIDE THE STATE IN WHICH EACH
SUCH COMPANY IS ORGANIZED.
- ----------------------------
Due to the proximity of the effective date of this filing to the
close of the most recent calendar year, final operations information for
1995 is not yet available. Accordingly, information provided herein is
based on estimates. Final information will be included in Claimant's
Form U-3A-2 to be filed on or before March 1, 1996.
Excludes customer-owned natural gas transported to retail customers
by SDG&E.
Excludes exchanges of natural gas and electricity with wh0lesale
suppliers that are not considered sales or purchases under the Federal
Power Act.
4
Claimant: None
SDG&E: None
(c). NUMBER OF KWH. OF ELECTRIC ENERGY AND MCF. OF NATURAL OR
MANUFACTURED GAS SOLD AT WHOLESALE OUTSIDE THE STATE IN WHICH EACH SUCH
COMPANY IS ORGANIZED, OR AT THE STATE LINE.
Electric(kwh) Gas(Mcf)
------------- --------
Claimant: None
SDG&E: 261,792,000 1,293,041
(d). Number of kwh. of electric energy and Mcf. of natural or
manufactured gas purchased outside the State in which each such company
is organized, or at the State line.
Electric(kwh) Gas(Mcf)
------------- ---------
Claimant: None
SDG&E: 8,517,000,000 92,471,796
4. THE FOLLOWING INFORMATION FOR THE REPORTING PERIOD WITH RESPECT
TO CLAIMANT AND EACH INTEREST IT HOLDS DIRECTLY OR INDIRECTLY IN AN EWG
OR A FOREIGN UTILITY COMPANY, STATING MONETARY AMOUNTS IN UNITED STATES
DOLLARS:
(a). NAME, LOCATION, BUSINESS ADDRESS AND DESCRIPTION OF THE
FACILITIES USED BY THE EWG OR FOREIGN UTILITY COMPANY FOR THE
GENERATION, TRANSMISSION AND DISTRIBUTION OF ELECTRIC ENERGY FOR SALE OR
FOR THE DISTRIBUTION AT RETAIL OF NATURAL OR MANUFACTURED GAS.
None.
(b). Name of each system company that holds an interest in such EWG or
foreign utility company; and description of the interest held.
Not applicable.
(c). TYPE AND AMOUNT OF CAPITAL INVESTED, DIRECTLY OR INDIRECTLY, BY
THE HOLDING COMPANY CLAIMING EXEMPTION; ANY DIRECT OR INDIRECT GUARANTEE
OF THE SECURITY OF THE EWG OR FOREIGN UTILITY COMPANY BY THE HOLDING
COMPANY CLAIMING EXEMPTION; AND ANY DEBT OR OTHER FINANCIAL OBLIGATION
FOR WHICH THERE IS RECOURSE, DIRECTLY OR INDIRECTLY, TO THE HOLDING
COMPANY CLAIMING EXEMPTION OR ANOTHER SYSTEM COMPANY, OTHER THAN THE EWG
OR FOREIGN UTILITY COMPANY.
Not applicable.
- ------------------------
Excludes exchanges of natural gas and electricity with wholesale
suppliers that are not considered sales or purchases under the Federal
Power Act.
5
(d). CAPITALIZATION AND EARNINGS OF THE EWG OR FOREIGN UTILITY COMPANY
DURING THE REPORTING PERIOD.
Not applicable.
(e). IDENTIFY ANY SERVICE, SALES OR CONSTRUCTION CONTRACT(S) BETWEEN
THE EWG OR FOREIGN UTILITY COMPANY AND A SYSTEM COMPANY, AND DESCRIBE
THE SERVICES TO BE RENDERED OR GOODS SOLD AND FEES OR REVENUES UNDER
SUCH AGREEMENT(S).
Not applicable.
EXHIBIT A
Consolidating Statements of income and surplus of the Claimant's
subsidiary companies for 1994 and the nine-months ended September 30,
1995, together with consolidating balance sheets of Claimant's
subsidiary companies as of the close of such periods, are attached as
Exhibit A . No separate consolidating financial statements for
Claimant have been prepared since the reorganization by which Claimant
became the parent corporation of SDG&E and its subsidiaries effective on
January 1, 1996.
Due to the proximity of the effective date of this filing to the close of
the most recent calendar year, financial statements for 1995 are not yet
available. Financial statements for 1995 will be included in Claimant's
Form U-3A-2 to be filed on or before March 1, 1996.
San Diego Gas and Electric Company and Subsidiaries
Consolidating Income Statement
In Thousands of Dollars
For the Nine Months Ended September 30, 1995
Enova
SDG&E PDCC CALIFIA Financial Eliminations Consolidated
---------- ------- --------- --------- ------------ ------------
OPERATING REVENUES
Electric $1,130,530 $ $ $ $ $1,130,530
Gas 229,897 229,897
Diversified operations 3,244 38,483 1,087 (1,358) 41,456
---------- ------- --------- --------- ------------ ------------
TOTAL OPERATING REVENUES 1,360,427 3,244 38,483 1,087 (1,358) 1,401,883
---------- ------- --------- --------- ------------ ------------
OPERATING EXPENSES
Electric fuel 75,480 75,480
Purchased power 262,702 262,702
Gas purchased for resale 82,610 82,610
Maintenance 55,194 55,194
Depreciation & decommissioning 194,857 1,684 7,949 3,864 208,354
Property and other taxes 34,193 34,193
General and administrative 138,988 1,163 214 156 140,521
Other 123,353 1,506 31,152 156,011
Income taxes 150,816 (2,656) (8,559) (16,228) 123,373
---------- -------- -------- --------- ------------ -----------
TOTAL OPERATING EXPENSES 1,118,193 1,697 30,756 (12,208) - 1,138,438
---------- -------- -------- --------- ------------ -----------
Operating Income 242,234 1,547 7,727 13,295 (1,358) 263,445
---------- -------- -------- --------- ------------ -----------
Other Income and (Deductions)
Writedown of real estate
Allow for equity funds used 4,447 4,447
Taxes on non-operating income (1,750) 800 (950)
Other-net 4,317 (3,851) 1,070 (386) (4,504) (3,354)
---------- -------- -------- --------- ------------ -----------
Total other income & (deductions) 7,014 (3,051) 1,070 (386) (4,504) 143
---------- -------- -------- --------- ------------ -----------
Income Before Interest Charges 249,248 (1,504) 8,797 12,909 (5,862) 263,588
---------- -------- -------- --------- ------------ -----------
Interest Charges
Long-term debt 62,592 1,736 1,462 6,332 72,122
Short-term debt and other 15,783 1,546 (2,904) 14,425
Allow for borrowed funds used (2,013) (2,013)
---------- -------- -------- --------- ------------ -----------
Net interest charges 76,362 3,282 1,462 6,332 (2,904) 84,534
---------- -------- -------- --------- ------------ -----------
Income from continuing operations 172,886 (4,786) 7,335 6,577 (2,958) 179,054
Discontinued operations (6,168) (6,168)
---------- -------- -------- --------- ------------ -----------
Net Income (before preferred
dividend requirements) 172,886 (10,954) 7,335 6,577 (2,958) 172,886
Preferred Dividend Requirements 5,747 - - - - 5,747
---------- -------- -------- --------- ------------ -----------
Earnings Applicable to
Common Shares $ 167,139 $(10,954) $ 7,335 $ 6,577 $(2,958) $167,139
========== ======== ======== ========= ============ ===========
San Diego Gas and Electric Company and Subsidiaries
Consolidating Statement of Retained Earnings
For the Nine Months Ending September 30, 1995
In Thousands of Dollars
ENOVA
SDG&E PDCC CALIFIA Financial Eliminations Consolidated
--------- --------- ------- --------- ------------ ------------
Balance, December 31, 1994 $ 618,581 $(43,752) $16,976 $11,628 $15,148 $618,581
Net Income 172,886 (10,954) 7,335 6,577 (2,958) 172,886
Dividends declared
Preferred stock (5,747) (5,747)
Common stock (136,346) (136,346)
---------- --------- ------- -------- ------- ------------
Balance September 30, 1995 $ 649,374 $(54,706) $24,311 $18,205 $12,190 $649,374
========== ========= ======= ======== ======= ============
San Diego Gas and Electric Company and Subsidiaries
Consolidating Balance Sheet
In Thousands of Dollars
For the Period Ended September 30, 1995
Enova
SDG&E PDCC CALIFIA Financial Eliminations Consolidated
---------- -------- --------- --------- ------------ ------------
ASSETS
Utility plant--at original cost $5,468,196 $ $ $ $ $5,468,196
Accumulated depreciation
and decommissioning (2,364,825) (2,364,825)
---------- -------- --------- --------- ---------- ------------
Utility plant--net 3,103,371 3,103,371
---------- -------- --------- --------- ---------- ------------
Investments and other property 370,628 25,359 47,727 160,897 (89,618) 514,993
---------- -------- --------- --------- ---------- ------------
CURRENT ASSETS
Cash and temporary investments 124,611 558 137 14,787 140,093
Accounts receivable 185,927 2,395 7,466 9,143 (14,389) 190,542
Notes receivable 64,345 19,250 (50,401) 33,194
Inventories 73,001 73,001
Other 33,019 70 13,995 (13,892) 33,192
---------- -------- --------- --------- ---------- ------------
TOTAL CURRENT ASSETS 416,558 3,023 85,943 43,180 (78,682) 470,022
---------- -------- --------- --------- ---------- ------------
Deferred taxes recoverable in rates 283,968 283,968
Deferred charges and other assets 258,908 14,676 94,873 680 (35,696) 333,441
---------- -------- --------- --------- ---------- ------------
TOTAL $4,433,433 $ 43,058 $ 228,543 $ 204,757 $(203,996) $4,705,795
========== ======== ========= ========= ========== ============
CAPITALIZATION AND LIABILITIES
CAPITALIZATION
Common equity $1,505,881 $ (4,052) $ 57,576 $ 65,005 $(118,529) $1,505,881
Preferred stock not subject
to mandatory redemption 93,475 93,475
Preferred stock subject to
mandatory redemption 25,000 25,000
Long-term debt 1,273,839 15,110 106,810 1,395,759
---------- -------- --------- --------- ---------- ------------
TOTAL CAPITALIZATION 2,898,195 (4,052) 72,686 171,815 (118,529) 3,020,115
---------- -------- --------- --------- ---------- ------------
CURRENT LIABILITIES
Short-term borrowings - 35,879 (35,879) -
Long-term debt redeemable within
one year 115,000 115,000
Current portion long-term debt 8,813 10,176 6,351 20,210 45,550
Accounts payable 99,457 41 11 99,509
Dividends payable 47,365 47,365
Taxes accrued 62,613 (13,892) 48,721
Interest accrued 20,292 312 446 4,720 25,770
Regulatory balancing accounts
overcollected-net 188,279 188,279
Other 75,447 702 44,940 121,089
---------- -------- --------- --------- ---------- ------------
TOTAL CURRENT LIABILITIES 617,266 47,110 51,748 24,930 (49,771) 691,283
---------- -------- --------- --------- ---------- ------------
Customer advances for construction 35,250 35,250
Accumulated deferred income
taxes--net 525,006 8,012 (35,696) 497,322
Accumulated deferred investment
tax credit 105,286 105,286
Deferred credits and other
liabilities 252,430 104,109 356,539
---------- -------- --------- --------- ---------- ------------
TOTAL $4,433,433 $ 43,058 $ 228,543 $ 204,757 $(203,996) $ 4,705,795
========== ======== ========= ========= ========== ============
San Diego Gas and Electric Company and Subsidiaries
Consolidating Income Statement
In Thousands of Dollars
For the Year Ended December 31, 1994
ENOVA
SDG&E PDCC CALIFIA Financial Eliminations Consolidated
---------- -------- ------- --------- ------------ ------------
OPERATING REVENUES
Electric $1,510,320 $1,510,320
Gas 346,183 346,183
Diversified operations $5,325 $49,854 $1,233 ($670) 55,742
---------- -------- ------- --------- ------------ ------------
TOTAL OPERATING REVENUES 1,856,503 5,325 49,854 1,233 (670) 1,912,245
---------- -------- ------- --------- ------------ ------------
OPERATING EXPENSES
Electric fuel 143,339 143,339
Purchased power 342,612 342,612
Gas purchased for resale 146,579 146,579
Maintenance 70,776 70,776
Depreciation and decommissioning 251,820 3,038 7,380 262,238
Property and other taxes 44,746 44,746
General and administrative 206,593 889 342 84 207,908
Other 163,037 3,959 41,537 208,533
Income taxes 180,858 (2,616) (12,490) (12,454) 153,298
---------- -------- ------- --------- ------------ ------------
TOTAL OPERATING EXPENSES 1,550,360 5,270 36,769 (12,370) - 1,580,029
---------- -------- ------- --------- ------------ ------------
Operating Income 306,143 55 13,085 13,603 (670) 332,216
---------- -------- ------- --------- ------------ ------------
Other Income and (Deductions)
Writedown of real estate (25,000) (25,000)
Allowance for equity funds
used during construction 6,274 6,274
Taxes on non-operating income 8,599 8,700 17,299
Other-net (84,950) 4,623 563 (29) 60,676 (19,117)
---------- -------- ------- --------- ------------ ------------
Total other income and
(deductions) (70,077) (11,677) 563 (29) 60,676 (20,544)
---------- -------- ------- --------- ------------ ------------
Income Before Interest Charges 236,066 (11,622) 13,648 13,574 60,006 311,672
---------- -------- ------- --------- ------------ ------------
Interest Charges
Long-term debt 81,749 2,731 2,387 6,573 (670) 92,770
Short-term debt and other 13,498 1,121 14,619
Allowance for borrowed funds
used during construction (2,658) (2,658)
---------- -------- ------- --------- ------------ ------------
Net interest charges 92,589 3,852 2,387 6,573 (670) 104,731
---------- -------- ------- --------- ------------ ------------
Income from continuing operations 143,477 (15,474) 11,261 7,001 60,676 206,941
Discontinued operations (63,464) (63,464)
---------- -------- ------- --------- ------------ ------------
Net Income (before preferred
dividend requirements) 143,477 ($78,938) $11,261 $7,001 $60,676 143,477
Preferred Dividend Requirements 7,663 - - - - 7,663
---------- --------- ------- --------- ------------ -----------
Earnings Applicable to
Common Shares $135,814 $(78,938) $11,261 $7,001 $60,676 $135,814
========== ========= ======= ========= ============ ===========
San Diego Gas and Electric Company and Subsidiaries
Consolidating Statement of Retained Earnings
For the Year Ended December 31, 1994
In Thousands of Dollars
ENOVA
SDG&E PDCC CALIFIA Financial Eliminations Consolidated
----------- --------- --------- --------- ------------ ------------
Balance, December 31, 1993 $659,833 $ 35,186 $ 6,266 $ 4,627 $(46,079) $ 659,833
Net Income 143,477 (78,938) 11,261 7,001 60,676 143,477
Dividends declared
Preferred stock (7,663) (551) 551 (7,663)
Common stock (177,066) (177,066)
----------- --------- --------- --------- ------------ ------------
Balance December 31, 1994 $618,581 $(43,752) $16,976 $11,628 $ 15,148 $ 618,581
=========== ========= ========= ========= ============ ============
San Diego Gas and Electric Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1994
In Thousands of Dollars
ENOVA
SDG&E PDCC CALIFIA Financial Eliminations Consolidated
----------- -------- -------- ---------- ------------ ------------
ASSETS
Utility plant--at original cost $5,329,179 $5,329,179
Accumulated depreciation and
decommissioning (2,180,087) (2,180,087)
---------- -------- --------- --------- ---------- ------------
Utility plant--net 3,149,092 3,149,092
---------- -------- --------- --------- ---------- ------------
Investments and other property 294,679 $ 47,841 $ 55,507 $132,888 (64,997) 465,918
---------- -------- --------- --------- ---------- ------------
CURRENT ASSETS
Cash and temporary investments 11,643 293 147 13,322 25,405
Accounts receivable 187,250 3,655 3,262 4,619 (10,798) 187,988
Notes receivable 52,156 18,500 (38,850) 31,806
Inventories 75,607 75,607
Other 33,925 52 13,080 20 (13,055) 34,022
---------- -------- --------- --------- ---------- ------------
TOTAL CURRENT ASSETS 308,425 4,000 68,645 36,461 (62,703) 354,828
---------- -------- --------- --------- ---------- ------------
Deferred taxes recoverable in rates 305,717 305,717
Deferred charges and other assets 230,850 14,280 122,749 506 (45,504) 322,881
---------- -------- --------- --------- ---------- ------------
TOTAL $4,288,763 $ 66,121 $ 246,901 $ 169,855 $(173,204) $4,598,436
========== ======== ========= ========= ========== ============
CAPITALIZATION AND LIABILITIES
CAPITALIZATION
Common equity $1,474,430 $ 7,121 $ 51,155 $ 48,029 $(106,305) $1,474,430
Preferred stock not subject
to mandatory redemption 93,493 93,493
Preferred stock subject to
mandatory redemption 25,000 25,000
Long-term debt 1,214,119 12,874 18,351 93,857 1,339,201
---------- -------- --------- --------- ---------- ------------
TOTAL CAPITALIZATION 2,807,042 19,995 69,506 141,886 (106,305) 2,932,124
---------- -------- --------- --------- ---------- ------------
CURRENT LIABILITIES
Short-term borrowings 58,325 39,340 (8,340) 89,325
Long-term debt redeemable
within one year 115,000 115,000
Current portion long-term debt 8,710 4,609 6,096 15,616 35,031
Accounts payable 130,110 36 11 130,157
Dividends payable 46,200 46,200
Taxes accrued 18,574 (13,055) 5,519
Interest accrued 17,676 401 5,295 23,372
Regulatory balancing accounts
overcollected-net 111,731 111,731
Other 81,127 740 31,948 113,815
---------- -------- --------- --------- ---------- ------------
TOTAL CURRENT LIABILITIES 587,453 45,126 38,055 20,911 (21,395) 670,150
---------- -------- --------- --------- ---------- ------------
Customer advances for construction 36,250 36,250
Accumulated deferred income
taxes--net 552,038 7,058 (45,504) 513,592
Accumulated deferred investment
tax credits 109,161 109,161
Deferred credits and other
liabilities 196,819 1,000 139,340 337,159
---------- -------- --------- --------- ---------- ------------
TOTAL $4,288,763 $ 66,121 $ 246,901 $ 169,855 $(173,204) $4,598,436
========== ======== ========= ========= ========== ============
EXHIBIT B
Financial Data Schedule
If, at the time a report on this form is filed, the registrant is
required to submit this report and any amendments thereto electronically
via EDGAR, the registrant shall furnish a Financial Data Schedule. The
Schedule shall set forth the financial and other data specified below
that are applicable to the registrant on a consolidated basis.
Item No. Caption Heading Sep 30 1995 Dec 31 1994
In Thousands of Dollars
PERIOD-TYPE 9-MOS YEAR
1 Total Assets $4,705,795 $4,598,436
2 Total Operating Revenues $1,401,883 $1,912,245
3 Net Income $167,139 $135,814
- ----------------------
EXHIBIT C
An organizational chart showing the relationship of each EWG or
foreign utility company to associate companies in the holding company
system.
Not Applicable.
The above-named Claimant has caused this statement to be duly
executed on its behalf by its authorized officer as of the 1st day of
January, 1996.
ENOVA CORPORATION
By : /s/Frank H. Ault
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Frank H. Ault
Vice President and Controller
Corporate Seal
Attest:
/s/ David R. Clark
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David R. Clark
Assistant Secretary
Name, title and address of officer to whom notices and correspondence
concerning this statement should be addressed:
Frank H. Ault
Vice President and Controller
Post Office Box 129400
San Diego, California 92112-4150
