UNITED STATES OF AMERICA
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
)
The AES Corporation ) File No. 70-9465
)
Certificate Pursuant to Rule 24 and Release No. 35-27063
Under the Public Utility Holding Company Act of 1935
On August 20, 1999, the Securities and Exchange Commission
("SEC") issued an order, Release No. 35-27063 in File No. 70-9465 ("Exemption
Order"), granting an exemption under Section 3(a) of the Public Utility Holding
Company Act of 1935, as amended, to The AES Corporation ("AES") in relation to
its proposed acquisition of CILCORP Inc. ("CILCORP"), which has a public-utility
subsidiary company, Central Illinois Light Company ("CILCO"). The Exemption
Order required AES to file certain certificates (as described in the Exemption
Order) under Rule 24 within 60 days of the close of each calendar quarter for a
period of three years beginning September 30, 1999 and every six months
thereafter. A certificate complying with the Exemption Order is set forth below
(as an attachment) for the period ending March 31, 2001. AES is separately
filing a certificate in File No. 70-9779 as required by the Commission's order
in Release No. 35-27363 in connection with the AES acquisition of IPALCO
Enterprises, Inc. ("IPALCO"), which has a public-utility subsidiary company,
Indianapolis Power & Light Company ("IPL").
Respectfully submitted,
/s/ Earle H. O'Donnell
-------------------------------------
Earle H. O'Donnell
Andrew B. Young
Hugh E. Hilliard
Dewey Ballantine LLP
1775 Pennsylvania Avenue, N.W.
Washington, D.C. 20006
Dated: May 30, 2001
THE AES CORPORATION
SEC FILING PURSUANT TO SECTION 3(a)(5) EXEMPTION ORDER
QUARTER ENDED MARCH 31, 2001
ITEM (1) PER EXEMPTION ORDER (STATEMENTS ATTACHED):
1) Statement of Income of The AES Corporation for the 12 months ended
March 31, 2001:
a) 12 months ended March 31, 2001 GAAP consolidated income statement
b) 12 months ended March 31, 2001 pro rata consolidated income statement
2) Balance Sheet of The AES Corporation at March 31, 2001
a) GAAP Basis Consolidated Balance Sheet
b) Pro Rata Consolidated Balance Sheet
3) Statement of Income of CILCORP for the 12 months ended March 31, 2001
4) Statement of Income of CILCO for the 12 months ended March 31, 2001
5) Consolidated Balance Sheet of CILCORP at March 31, 2001
6) Consolidated Balance Sheet of CILCO at March 31, 2001
THE AES CORPORATION
CONSOLIDATED STATEMENT OF OPERATIONS (INCLUDES CILCORP AND IPALCO)
FOR THE TWELVE MONTHS ENDED MARCH 31, 2001 - GAAP BASIS
------------------------------------------------------------------------------
TWELVE
MONTHS
ENDED
3/31/2001
------------------------------------------------------------------------------
($ in millions, except per share amounts)
REVENUES:
Sales and services $ 7,540
OPERATING COSTS
AND EXPENSES:
Cost of sales and services 5,704
Selling, general and
administrative expenses 66
----------------
TOTAL OPERATING COSTS
AND EXPENSES 5,770
----------------
OPERATING INCOME 1,770
OTHER INCOME AND
(EXPENSE):
Interest expense, net (1,140)
Equity in earnings of affiliates
(before income tax) 407
Other income (expense) (42)
Nonrecurring severance and transaction costs (94)
Gain on sale of investment (112)
----------------
INCOME BEFORE INCOME TAXES AND
MINORITY INTEREST 789
Income tax provision 176
Minority interest 133
----------------
NET INCOME $ 480
================
3
THE AES CORPORATION
CONSOLIDATED STATEMENT OF OPERATIONS (INCLUDES CILCORP AND IPALCO)
FOR THE TWELVE MONTHS ENDED MARCH 31, 2001 - PRO RATA BASIS
------------------------------------------------------------------------------
TWELVE
MONTHS
ENDED
3/31/2001
------------------------------------------------------------------------------
($ in millions, except per share amounts)
REVENUES:
Sales and services $ 8,421
OPERATING COSTS
AND EXPENSES:
Cost of sales and services 6,258
Selling, general and administrative
expenses 78
---------------
TOTAL OPERATING COSTS
AND EXPENSES 6,336
---------------
OPERATING INCOME 2,085
OTHER INCOME AND (EXPENSE):
Interest expense, net (1,149)
Other income (expense) (173)
Nonrecurring severance and transaction costs (94)
Gain on sale of investment
(112)
---------------
INCOME BEFORE INCOME TAXES 557
Income tax provision 77
---------------
NET INCOME $ 480
===============
4
THE AES CORPORATION
GAAP BASIS CONSOLIDATED BALANCE SHEET (INCLUDES
CILCORP AND IPALCO)
MARCH 31, 2001
($ in millions)
ASSETS
CURRENT ASSETS
Cash and cash equivalents $ 1,830
Short-term investments 382
Accounts receivable, net 1,527
Inventory 498
Receivable from affiliates 30
Prepaid expenses and other current
assets 662
-----
TOTAL CURRENT ASSETS 4,929
PROPERTY, PLANT AND EQUIPMENT
Land 670
Electric generation and
distribution assets 19,950
Accumulated depreciation and
amortization (2,797)
Construction in progress 3,175
-----
PROPERTY, PLANT AND EQUIPMENT,
NET 20,998
OTHER ASSETS
Deferred financing costs, net 428
Project development costs 149
Investments in and advances to
affiliates 3,525
Debt service reserves and other
deposits 442
Excess of cost net assets
acquired, net 2,859
Other assets 2,258
-----
TOTAL OTHER ASSETS 9,661
TOTAL $ 35,588
==========
5
LIABILITIES & STOCKHOLDERS' EQUITY
CURRENT LIABILITIES
Accounts payable $ 690
Accrued interest 433
Accrued and other liabilities 1,407
Non-recourse debt-current
portion 2,796
-----
TOTAL CURRENT LIABILITIES 5,326
LONG-TERM LIABILITIES
Non-recourse debt 13,541
Recourse debt 4,479
Deferred incomes taxes 2,044
Other long-term liabilities 1,767
------
TOTAL LONG-TERM LIABILITIES 21,831
Minority interest 1,422
Company-obligated Convertible
Mandatorily Redeemable Preferred
Securities of Subsidiary
Trusts Holding Solely Junior
Debentures of AES 1,228
STOCKHOLDERS' EQUITY
Common Stock 5
Additional paid-in Capital 5,194
Retained earnings 2,642
Accumulated other comprehensive
loss (2,060)
-------
TOTAL STOCKHOLDERS' EQUITY 5,781
TOTAL $ 35,588
==========
6
THE AES CORPORATION
PRO RATA CONSOLIDATED BALANCE SHEET (INCLUDES CILCORP
AND IPALCO)
MARCH 31, 2001
($ in millions)
ASSETS
CURRENT ASSETS
Cash and cash equivalents $ 1,889
Short-term investments 327
Accounts receivable, net 1,677
Inventory 470
Receivable from affiliates 26
Deferred income taxes 189
Prepaid expenses and other current
assets 601
-----
TOTAL CURRENT ASSETS 5,179
PROPERTY, PLANT AND EQUIPMENT
Land 582
Electric generation and
distribution assets 21,419
Accumulated depreciation and
amortization (2,739)
Construction in progress 3,089
------
PROPERTY, PLANT AND EQUIPMENT, NET 22,351
OTHER ASSETS
Deferred financing costs, net 410
Project development costs 153
Investments in and advances to
affiliates 3,865
Debt service reserves and other
deposits 725
Excess of Cost over Net Assets
Acquired 2,556
Other assets 2,329
------
TOTAL OTHER ASSETS 10,038
TOTAL $ 37,568
=========
7
LIABILITIES & STOCKHOLDERS' EQUITY
CURRENT LIABILITIES
Accounts payable $ 754
Accrued interest 457
Accrued and other liabilities 1,408
Other notes payable - current
portion 301
Project financing debt - current
portion 2,415
-----
TOTAL CURRENT LIABILITIES 5,335
LONG-TERM LIABILITIES
Recourse Debt-LT 4,403
Project Financing Debt-LT 13,968
Other notes payable-LT 10
Deferred Tax Liability 2,043
Other long-term liabilities 2,739
-----
TOTAL LONG-TERM LIABILITIES 23,163
TECONS 1,228
STOCKHOLDERS' EQUITY
Common Stock 5
Contributed capital / Additional
paid in capital 5,409
Retained earnings 4,592
Accumulated other comprehensive
loss (2,164)
-------
TOTAL STOCKHOLDERS' EQUITY 7,842
TOTAL $ 37,568
=========
8
CILCORP CONSOLIDATED
INCOME STATEMENT
TWELVE MONTHS ENDED 3/31/2001
REVENUE:
CILCO ELECTRIC $401,510
CILCO GAS 326,459
CILCO OTHER 52,924
OTHER BUSINESSES 48,361
-------------------
TOTAL 829,254
-------------------
OPERATING EXPENSES:
FUEL FOR GENERATION AND PURCHASED POWER 216,261
GAS PURCHASED FOR RESALE 272,402
OTHER OPERATIONS AND MAINTENANCE 119,783
DEPRECIATION AND AMORTIZATION 86,879
TAXES, OTHER THAN INCOME TAXES 40,360
-------------------
TOTAL 735,685
-------------------
FIXED CHARGES AND OTHER:
INTEREST EXPENSE 72,318
PREFERRED STOCK DIVIDENDS OF SUBSIDIARY 2,677
ALLOWANCE FOR FUNDS USED DURING CONSTRUCTION (536)
OTHER 1,248
-------------------
TOTAL 75,707
-------------------
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES 17,862
INCOME TAXES 8,961
-------------------
NET INCOME (LOSS) FROM CONTINUING OPERATIONS 8,901
INCOME (LOSS) FROM OPERATIONS OF DISCONTINUED
BUSINESS, NET OF TAXES -
EXTRAORDINARY ITEM -
-------------------
NET INCOME (LOSS) BEFORE MINORITY INTEREST 8,901
MINORITY INTEREST -
-------------------
NET INCOME (LOSS) 8,901
OTHER COMPREHENSIVE INCOME (699)
-------------------
COMPREHENSIVE INCOME (LOSS) $ 8,202
===================
9
CENTRAL ILLINOIS LIGHT COMPANY
CONSOLIDATED STATEMENT OF INCOME
Twelve Months Ended
3/31/2001
Operating Revenues:
Electric $ 401,510
Gas 326,459
-------------------
727,969
-------------------
Operating Expenses:
Cost of Fuel 115,571
Cost of Gas 238,654
Purchased Power 54,601
Other Operation & Maintenance Expenses 112,746
Depreciation and Amortization 69,221
Income Taxes 27,952
Other Taxes 40,283
-------------------
Total Operating Expenses 659,028
-------------------
Operating Income 68,941
Other Income and Deductions
CILCO Owned Life Insurance (1,248)
Other, Net 1,225
-------------------
Total other income and (deductions) (23)
-------------------
Income Before Interest Expenses 68,918
Interest Expenses:
Interest on Long-Term Debt 17,313
Cost of Borrowed Funds Capitalized (536)
Other 6,876
-------------------
Total interest expense 23,653
-------------------
Net (loss) Income Before Preferred Dividends 45,265
-------------------
Preferred Stock Dividends 2,677
-------------------
Net Inc Available for Common Stock $ 42,588
===================
10
CILCORP INC. AND SUBSIDIARIES
Consolidated Balance Sheets
(In thousands)
March 31, 2001
ASSETS (Unaudited)
Current assets:
Cash and temporary cash investments $ 33,473
Receivables, less reserves of $1,432 116,160
Accrued unbilled revenue 32,768
Fuel, at average cost 13,137
Materials and supplies, at average cost 16,247
Gas in underground storage, at average cost 9,894
FAC/PGA underrecoveries 3,209
Prepayments and other 4,771
----------
Total current assets 229,659
----------
Investments and other property:
Investment in leveraged leases 136,606
Other investments 21,611
----------
Total investments and other property 158,217
----------
Property, plant and equipment:
Utility plant, at original cost
Electric 700,528
Gas 220,279
----------
920,807
Less - accumulated provision for depreciation 82,943
----------
837,864
Construction work in progress 32,222
Other, net of depreciation 112
----------
Total property, plant and equipment 870,198
----------
11
Other assets:
Goodwill, net of accumulated
amortization of $22,255 590,711
Other 54,829
----------
Total other assets 645,540
----------
Total assets $1,903,614
==========
12
CILCORP INC. AND SUBSIDIARIES
Consolidated Balance Sheets
(In thousands)
March 31, 2001
LIABILITIES AND STOCKHOLDER'S EQUITY (Unaudited)
Current liabilities:
Current portion of long-term debt $ 18,900
Notes payable 108,200
Accounts payable 62,215
Accrued taxes 28,197
Accrued interest 27,023
FAC/PGA overrecoveries 2,504
Other 5,877
----------
Total current liabilities 252,916
----------
Long-term debt 719,093
----------
Deferred credits and other liabilities:
Deferred income taxes 194,203
Regulatory liability of regulated subsidiary 42,949
Deferred investment tax credits 15,757
Freeman contract liability 87,049
Other 77,828
----------
Total deferred credits and other liabilities 417,786
----------
Preferred stock of subsidiary 41,120
----------
Stockholder's equity:
Common stock, no par value; authorized 10,000 shares - outstanding
1,000 shares --
Additional paid-in capital 468,833
Retained earnings 4,565
Accumulated other comprehensive income (699)
----------
Total stockholder's equity 472,699
----------
Total liabilities and Stockholder's equity $1,903,614
==========
13
CENTRAL ILLINOIS LIGHT COMPANY
Consolidated Balance Sheets
(In thousands)
March 31, 2001
ASSETS (Unaudited)
Utility plant, at original cost:
Electric $1,310,423
Gas 443,645
----------
1,754,068
Less - accumulated provision for depreciation 942,906
----------
811,162
Construction work in progress 32,223
----------
Total utility plant 843,385
----------
Other property and investments:
Cash surrender value of company-owned life insurance
(net of related policy loans of $59,292) 4,372
Other 1,162
----------
Total other property and investments 5,534
----------
Current assets:
Cash and temporary cash investments 29,819
Receivables, less reserves of $1,432 101,416
Accrued unbilled revenue 29,037
Fuel, at average cost 13,137
Materials and supplies, at average cost 15,212
Gas in underground storage, at average cost 9,894
Prepaid taxes 5,393
FAC/PGA underrecoveries 3,209
Other 4,709
----------
Total current assets 211,826
----------
Deferred debits:
14
Unamortized loss on reacquired debt 2,631
Unamortized debt expense 1,396
Prepaid pension cost 229
Other 24,734
----------
Total deferred debits 28,990
----------
Total assets $1,089,735
==========
15
CENTRAL ILLINOIS LIGHT COMPANY
Consolidated Balance Sheets
(In thousands)
March 31,
CAPITALIZATION AND LIABILITIES 2001
(Unaudited)
Capitalization:
Common stockholder's equity:
Common stock, no par value; authorized 20,000,000 shares;
outstanding 13,563,871 shares $ 185,661
Additional paid-in capital 27,000
Retained earnings 152,155
Accumulated other comprehensive income (1,224)
----------
Total common stockholder's equity 363,592
Preferred stock without mandatory redemption 19,120
Preferred stock with mandatory redemption 22,000
Long-term debt 244,095
----------
Total capitalization 648,807
----------
Current liabilities:
Current maturities of long-term debt 1,400
Notes payable 75,700
Accounts payable 49,804
Accrued taxes 36,166
Accrued interest 7,144
FAC/PGA overrecoveries 2,504
Other 5,805
----------
Total current liabilities 178,523
----------
Deferred credits and other liabilities:
Accumulated deferred income taxes 120,902
Regulatory liability 42,949
Deferred investment tax credit 15,757
Capital lease obligation 467
Other 82,330
----------
Total deferred credits and
16
other liabilities 262,405
----------
Total capitalization and liabilities $1,089,735
==========
17
ITEM (2) PER EXEMPTION ORDER (INCOME STATEMENT AMOUNTS ARE 12 MONTHS ENDED):
CILCO/CILCORP CONTRIBUTIONS TO
AES/CILCORP CONSOLIDATED HOLDING COMPANY
(GAAP BASIS)
($MM)
---------------------------------------------------------------------------------------------------
12 MOS. 3/31/00 12 MOS. 3/31/01
---------------------------------------------------------------------------------------------------
GROSS REVENUES %-CILCO 12.89% 10.36%
CILCO 565 781
AES 4,091 6,711
AES/CILCORP 4,382 7,540
---------------------------------------------------------------------------------------------------
GROSS REVENUES %-CILCORP 13.33% 11.00%
CILCORP (Including CILCO) 584 829
AES 4,091 6,711
AES/CILCORP 4,382 7,540
---------------------------------------------------------------------------------------------------
NET OPERATING REVENUES %-CILCO 11.05% 6.95%
CILCO 386 425
AES 3,335 5,671
AES/CILCORP 3,493 6,113
---------------------------------------------------------------------------------------------------
NET OPERATING REVENUES %-CILCORP 11.31% 7.23%
CILCORP (Including CILCO) 395 442
AES 3,335 5,671
AES/CILCORP 3,493 6,113
---------------------------------------------------------------------------------------------------
OPERATING INCOME %-CILCO 5.04% 5.43%
CILCO 56 96
AES 1,111 1,676
AES/CILCORP 1,111 1,770
---------------------------------------------------------------------------------------------------
OPERATING INCOME %-CILCORP 3.87% 5.31%
CILCORP (Including CILCO) 43 94
AES 1,111 1,676
AES/CILCORP 1,111 1,770
---------------------------------------------------------------------------------------------------
NET INCOME %-CILCO 4.47% 8.97%
CILCO 18 43
AES 415 471
AES/CILCORP 402 480
---------------------------------------------------------------------------------------------------
NET INCOME %-CILCORP -.02% 1.88%
CILCORP (Including CILCO) (7) 9
AES 415 471
AES/CILCORP 402 480
---------------------------------------------------------------------------------------------------
NET ASSETS %-CILCO 4.34% 3.06%
CILCO 1,016 1,090
AES 23,402 33,684
AES/CILCORP 23,402 35,588
---------------------------------------------------------------------------------------------------
NET ASSETS %-CILCORP 7.63% 5.35%
CILCORP (Including CILCO) 1,785 1,904
AES 23,402 33,684
AES/CILCORP 23,402 35,588
---------------------------------------------------------------------------------------------------
18
CILCO/CILCORP CONTRIBUTIONS TO
AES/CILCORP CONSOLIDATED HOLDING COMPANY
(PRO RATA CONSOLIDATION BASIS)
($MM)
-------------------------------------------------------------------------------------------------------
12 MOS. 3/31/00 12 MOS. 3/31/01
-------------------------------------------------------------------------------------------------------
GROSS REVENUES %-CILCO 9.77% 9.27%
CILCO 565 781
AES 5,491 7,592
AES/CILCORP 5,782 8,421
-------------------------------------------------------------------------------------------------------
GROSS REVENUES %-CILCORP 10.10% 9.84%
CILCORP (Including CILCO) 584 829
AES 5,491 7,592
AES/CILCORP 5,782 8,421
-------------------------------------------------------------------------------------------------------
NET OPERATING REVENUES %-CILCO 7.95% 5.98%
CILCO 386 425
AES 4,698 6,661
AES/CILCORP 4,856 7,103
-------------------------------------------------------------------------------------------------------
NET OPERATING REVENUES %-CILCORP 8.13% 6.22%
CILCORP (Including CILCO) 395 442
AES 4,698 6,661
AES/CILCORP 4,856 7,103
-------------------------------------------------------------------------------------------------------
OPERATING INCOME %-CILCO 3.66% 4.61%
CILCO 56 96
AES 1,532 1,990
AES/CILCORP 1,532 2,085
-------------------------------------------------------------------------------------------------------
OPERATING INCOME %-CILCORP 2.81% 4.51%
CILCORP (Including CILCO) 43 94
AES 1,532 1,991
AES/CILCORP 1,532 2,085
-------------------------------------------------------------------------------------------------------
NET INCOME %-CILCO 4.47% 8.97%
CILCO 18 43
AES 415 471
AES/CILCORP 402 480
-------------------------------------------------------------------------------------------------------
NET INCOME %-CILCORP -.02% 1.88%
CILCORP (Including CILCO) (7) 9
AES 415 471
AES/CILCORP 402 480
-------------------------------------------------------------------------------------------------------
NET ASSETS %-CILCO 3.55% 2.73%
CILCO 1,016 1,090
AES 28,583 35,664
AES/CILCORP 28,583 37,568
-------------------------------------------------------------------------------------------------------
NET ASSETS %-CILCORP 6.24% 5.07%
CILCORP (Including CILCO) 1,785 1,904
AES 28,583 35,664
AES/CILCORP 28,583 37,568
-------------------------------------------------------------------------------------------------------
19
ITEM (3) PER EXEMPTION ORDER - GENERATION INFORMATION:
AES Generating Plants in Operation at March 31, 2001 (excluding CILCORP and
IPALCO):
AES AES
CAPACITY INTEREST EQUITY REGULATORY
UNIT COUNTRY (MW) (%) (MW) STATUS
------- ---- --- ---- ------
AES Deepwater USA 143 100% 143 QF
AES Beaver Valley USA 125 100% 125 QF
AES Placerita USA 120 100% 120 QF
AES Thames USA 181 100% 181 QF
AES Shady Point USA 320 100% 320 QF
AES Hawaii USA 180 100% 180 QF
AES Warrior Run USA 180 100% 180 QF
AES Somerset USA 675 100% 675 EWG
AES Cayuga USA 306 100% 306 EWG
AES Greenidge USA 161 100% 161 EWG
AES Westover USA 126 100% 126 EWG
AES Alamitos USA 2,083 100% 2,083 EWG
AES Redondo Beach USA 1,310 100% 1,310 EWG
AES Huntington Beach USA 563 100% 563 EWG
DOMESTIC SUBTOTAL: 6,473 6,473
AES AES
CAPACITY INTEREST EQUITY REGULATORY
UNIT COUNTRY (MW) (%) (MW) STATUS
------- ---- --- ---- ------
AES Kingston Canada 110 50% 55 EWG
AES San Nicholas Argentina 650 69% 449 EWG
AES Cabra Corral Argentina 102 98% 100 FUCO
AES El Tunal Argentina 10 98% 10 FUCO
AES Sarmiento Argentina 33 98% 32 FUCO
AES Ullum Argentina 45 98% 44 FUCO
AES Quebrada de Ullum Argentina 45 100% 45 FUCO
AES Alicura Argentina 1,000 98% 980 FUCO
Fontes Nova - Light Brazil 144 21% 30 FUCO
Ilha dos Pombos - Light Brazil 164 21% 34 FUCO
Nilo Pecanha - Light Brazil 380 21% 80 FUCO
Pereira Passos - Light Brazil 100 21% 21 FUCO
CEMIG - Miranda Brazil 390 9% 35 FUCO
CEMIG - Igarapava Brazil 210 1% 2 FUCO
CEMIG (35 plants) Brazil 5,068 9% 441 FUCO
AES Bayano Panama 150 49% 74 FUCO
AES Panama Panama 42 49% 21 FUCO
AES Chiriqui - La Estrella Panama 42 49% 21 FUCO
AES Chiriqui - Los Valles Panama 48 49% 24 FUCO
AES Los Mina Dom. Rep. 210 100% 210 EWG
AES Yarra Australia 510 100% 510 FUCO
AES Jeeralang Australia 449 100% 449 FUCO
AES Mt. Stuart Australia 288 100% 288 FUCO
AES Xiangci - Cili China 26 51% 13 FUCO
20
Wuhu Grassy Lake China 250 25% 63 FUCO
Yangchun China 15 25% 4 FUCO
Chengdu Lotus City China 48 35% 17 FUCO
AES Jiaozuo China 250 70% 175 FUCO
AES Hefei China 76 70% 53 FUCO
AES Hefei II China 39 70% 27 FUCO
AES Chongqing Nanchuan China 50 70% 35 FUCO
Yangcheng (1st Unit) China 350 25% 88 FUCO
AES Ekibastuz Kazakhstan 4,000 100% 4,000 FUCO
AES Ust-Kamenogorsk GES Kazakhstan 331 100% 331 FUCO
AES Shulbinsk GES Kazakhstan 702 100% 702 FUCO
AES Ust-Kamenogorsk TETS Kazakhstan 1,464 100% 1,464 FUCO
AES Leninogorsk TETS Kazakhstan 418 100% 418 FUCO
AES Sogrinsk TETS Kazakhstan 349 100% 349 FUCO
AES Semipalatinsk TETS Kazakhstan 840 100% 840 FUCO
AES Ust-Kamenogorsk Heat Nets Kazakhstan 310 Mgmt. 0 FUCO
OPGC India 420 49% 206 FUCO
AES Lal Pir Pakistan 351 90% 316 FUCO
AES PakGen Pakistan 344 90% 310 FUCO
AES Borsod Hungary 171 100% 171 FUCO
AES Tisza II Hungary 860 100% 860 FUCO
AES Tiszapalkonya Hungary 250 100% 250 FUCO
AES Elsta Netherlands 405 50% 203 FUCO
Medway U.K. 688 25% 172 FUCO
AES Indian Queens U.K. 140 100% 140 EWG
AES Kilroot U.K. 520 97% 504 FUCO
AES Belfast West U.K. 120 97% 116 FUCO
AES Barry U.K. 230 100% 230 FUCO
AES Drax Power Ltd. U.K. 4,065 100% 4,065 FUCO
AES Fifoots Point U.K. 360 100% 360 FUCO
AES Uruguaiana Brazil 600 100% 600 FUCO
AES Tiete (10 plants) Brazil 2,650 44% 1,166 FUCO
EDC (4 plants) Venezuela 2,265 87% 1,971 FUCO
AES Merida III Mexico 484 55% 266 FUCO
AES Mtkvari Georgia 600 100% 600 FUCO
AES Khrami I Georgia 113 100% 113 FUCO
AES Khrami II Georgia 110 100% 110 FUCO
AES Ottana Italy 140 100% 140 FUCO
AES Mamonal (KMR) Columbia 90 62% 56 FUCO
AES Termo Candelaria (KMR) Columbia 314 100% 314 FUCO
AES Centrogener (Gener - 8 Chile 756 96% 726 FUCO
plants)
AES Chivor (Gener) Columbia 1,000 96% 960 FUCO
AES Electrica de Santiago (Gener) Chile 379 72% 273 FUCO
AES Energia Verde (Gener - 2 Chile 17 96% 16 FUCO
plants)
AES Guacolda (Gener) Chile 304 48% 146 FUCO
AES Norgener (Gener - 2 plants) Chile 276 96% 265 FUCO
Itabo (Gener - 7 plants) Dom. Rep. 587 24% 141 FUCO
FOREIGN SUBTOTAL: 39,317 28,297
21
TOTAL - March 31, 2001 45,790 34,770
Foreign Generation as a 86% 81%
Percentage of Total:
CILCORP Generating Plants at March 31, 2001:
AES AES
CAPACITY INTEREST EQUITY REGULATORY
UNIT COUNTRY (MW) (%) (MW) STATUS
------- ---- --- ---- ------
Edwards (3 units) USA 740 100 740 IL PUC
Duck Creek USA 366 100 366 IL PUC
Indian Trails USA 10 100 10 IL PUC
Sterling Avenue USA 30 100 30 IL PUC
Hallock Power Modules USA 13 100 13 IL PUC
Kickapoo Power Modules USA 13 100 13 IL PUC
TOTAL - March 31, 2001 1,172 1,172
Revenues from electric generation capacity - 12 months ended March 31, 2001
(millions of dollars):
CILCORP 161 4%
AES (excluding CILCORP)(1) 3,546 96%
----- ----
Total 3,707 100%
CILCORP's electric revenues are allocated between electric generation and
electric transmission and distribution activities according to utility rate
base. AES generation revenues are derived from the total generation revenues
earned by AES subsidiaries times the percentage ownership interest of AES in
those subsidiaries.
There has been no change in the amount of generation capacity owned by CILCORP
and a 544 MW increase in the amount of generation capacity owned by AES
(excluding CILCORP and IPALCO) from 34,226 to 34,770 MW since December 31, 2000.
There has been a 23% decrease in the total revenues earned from the capacity
owned by AES and CILCORP in the twelve-month period ended March 31, 2001
compared with the twelve-month period ended December 31, 2000. The percentage of
total revenues derived from the generation capacity owned by CILCORP has
increased from 3% to 4%.
The physical location of the MW capacity added by AES since December 31, 2000 is
in Kazakhstan, Panama, China, and Italy.
------------
(1) Includes revenues from electric generating capacity owned by IPALCO.
22
ITEM (4) PER EXEMPTION ORDER - ELECTRIC TRANSMISSION AND DISTRIBUTION AND GAS
DISTRIBUTION:
Electric transmission and distribution and gas distribution assets owned as of
March 31, 2001 (millions of dollars):
CILCORP 780
Total AES (excluding CILCORP)(1) 5,954
-----
Total 6,734
Electric transmission and distribution and gas distribution revenues for 12
months ending March 31, 2001 (millions of dollars):
CILCORP 567
AES (excluding CILCORP)(2) 4,147
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Total 4,714
CILCORP's electric revenues are allocated between electric generation and
electric transmission and distribution activities according to utility rate
base. AES transmission and distribution revenues are derived from the total
revenues earned by AES transmission and distribution subsidiaries by multiplying
these revenues by the percentage ownership interest of AES in those
subsidiaries.
The total transmission and distribution assets owned by AES and CILCORP has not
changed significantly since December 31, 2000; however, the calculation of total
transmission and distribution assets owned by AES has decreased due to an
improvement in the method for calculating these revenues (namely, subtracting
the generation-related assets owned by such transmission and distribution
companies). CILCORP's transmission and distribution assets have decreased
slightly while the revenues derived from such assets have increased
significantly since December 31, 2000. AES' transmission and distribution assets
have been restated to be lower due to the recalculation to subtract
generation-related assets owned by such transmission and distribution companies,
and the revenues derived from such assets have increased significantly since
December 31, 2000. CILCORP's percentage of the total transmission and
distribution assets is now estimated at 12% based on the improved calculation
method, and CILCORP's percentage of the total revenues from such assets has
decreased slightly from 13% to 12% for the twelve-month period ending March 31,
2001 compared to the twelve-month period ending December 31, 2000.
ITEM (5) PER EXEMPTION ORDER:
CILCO has not sold or transferred any electric and/or gas utility assets to any
affiliate company of the AES consolidated holding company system during the
first quarter of 2001.
------------
(1) Includes transmission and distribution assets owned by IPALCO.
(2) Includes revenues from transmission and distribution assets owned
by IPALCO.
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ITEM (6) PER EXEMPTION ORDER:
During the first quarter of 2001, no application has been made to nor has any
order been received from the Illinois Commerce Commission that involves AES'
ownership position or AES' oversight over the operations of CILCO or CILCORP.
SIGNATURE
Pursuant to the requirements of the Public Utility Holding Company Act of 1935,
as amended, AES has duly caused this certificate to be signed on its behalf on
this 30th day of May, 2001 by the undersigned thereunto duly authorized.
The AES Corporation
By: /s/ William R. Luraschi
-----------------------
William R. Luraschi
General Counsel and Secretary
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