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 June 30, 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
Dewey Ballantine LLP
1775 Pennsylvania Avenue, N.W.
Washington, D.C. 20006
Dated: August 29, 2001
THE AES CORPORATION
SEC FILING PURSUANT TO SECTION 3(a)(5) EXEMPTION ORDER
QUARTER ENDED JUNE 30, 2001
ITEM (1) PER EXEMPTION ORDER (STATEMENTS ATTACHED):
1) Statement of Income of The AES Corporation for the 12 months ended June 30,
2001:
a) 12 months ended June 30, 2001 GAAP consolidated income statement
b) 12 months ended June 30, 2001 pro rata consolidated income statement
2) Balance Sheet of The AES Corporation at June 30, 2001
a) GAAP Basis Consolidated Balance Sheet
b) Pro Rata Consolidated Balance Sheet
3) Statement of Income of CILCORP for the 12 months ended June 30, 2001
4) Statement of Income of CILCO for the 12 months ended June 30, 2001
5) Consolidated Balance Sheet of CILCORP at June 30, 2001
6) Consolidated Balance Sheet of CILCO at June 30, 2001
2
THE AES CORPORATION
CONSOLIDATED STATEMENT OF OPERATIONS (INCLUDES CILCORP AND IPALCO)
FOR THE TWELVE MONTHS ENDED JUNE 30, 2001 - GAAP BASIS
(Unaudited)
--------------------------------------------------------------------------------------------
TWELVE
MONTHS
ENDED
6/30/2001
--------------------------------------------------------------------------------------------
($ in millions, except per share amounts)
REVENUES:
Sales and services $ 8,895
OPERATING COSTS AND EXPENSES:
Cost of sales and services 6,712
Selling, general and administrative expenses 105
---------------------
TOTAL OPERATING COSTS AND EXPENSES 6,817
---------------------
OPERATING INCOME 2,078
OTHER INCOME AND (EXPENSE):
Interest expense, net (1,505)
Equity in earnings of affiliates (before income tax) 407
Other income (expense) 274
Nonrecurring severance and transaction costs (178)
Loss on sale of Power Direct (31)
---------------------
INCOME BEFORE INCOME TAXES, MINORITY INTEREST
AND EXTRAORDINARY ITEM 1,046
Income tax provision 292
Minority interest 143
---------------------
INCOME BEFORE EXTRAORDINARY ITEM 611
Extraordinary Item 4
---------------------
NET INCOME $ 607
=====================
3
THE AES CORPORATION
CONSOLIDATED STATEMENT OF OPERATIONS (INCLUDES CILCORP AND IPALCO)
FOR THE TWELVE MONTHS ENDED JUNE 30, 2001 - PRO RATA BASIS
--------------------------------------------------------------------------------------------
TWELVE
MONTHS
ENDED
6/30/2001
--------------------------------------------------------------------------------------------
($ in millions, except per share amounts)
REVENUES:
Sales and services $ 9,579
OPERATING COSTS AND EXPENSES:
Cost of sales and services 7,116
Selling, general and administrative expenses 105
---------------------
TOTAL OPERATING COSTS AND EXPENSES 7,221
---------------------
OPERATING INCOME 2,358
OTHER INCOME AND (EXPENSE):
Interest expense, net (1,439)
Other income (expense) (3)
Nonrecurring severance and transaction costs (178)
Loss on sale of Power Direct (31)
---------------------
INCOME BEFORE INCOME TAXES, MINORITY INTEREST
AND EXTRAORDINARY ITEM 707
Income tax provision 97
---------------------
INCOME BEFORE EXTRAORDINARY ITEM 611
Extraordinary item 4
---------------------
NET INCOME $ 607
=====================
4
THE AES CORPORATION
GAAP BASIS CONSOLIDATED BALANCE SHEET (INCLUDES CILCORP AND IPALCO)
JUNE 30, 2001
(Unaudited)
($ in millions)
ASSETS
CURRENT ASSETS
Cash and cash equivalents $ 1,190
Short-term investments 427
Accounts receivable, net 1,569
Inventory 542
Receivable from affiliates 18
Prepaid expenses and other current assets 679
----------
TOTAL CURRENT ASSETS 4,425
PROPERTY, PLANT AND EQUIPMENT
Land 594
Electric generation and distribution assets 20,074
Accumulated depreciation and amortization (2,990)
Construction in progress 3,942
----------
PROPERTY, PLANT AND EQUIPMENT, NET 21,620
OTHER ASSETS
Deferred financing costs, net 446
Project development costs 106
Investments in and advances to affiliates 3,337
Debt service reserves and other deposits 441
Excess of cost net assets acquired, net 2,920
Other assets 2,234
----------
TOTAL OTHER ASSETS 9,484
TOTAL $ 35,529
==========
5
LIABILITIES & STOCKHOLDERS' EQUITY
CURRENT LIABILITIES
Accounts payable $ 769
Accrued interest 517
Accrued and other liabilities 1,483
Non-recourse debt-current portion 2,800
----------
TOTAL CURRENT LIABILITIES 5,569
LONG-TERM LIABILITIES
Non-recourse debt 13,062
Recourse debt 4,836
Deferred incomes taxes 2,061
Other long-term liabilities 1,701
----------
TOTAL LONG-TERM LIABILITIES 21,660
Minority interest 1,413
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 5,201
Retained earnings 2,754
Accumulated other comprehensive loss (2,301)
----------
TOTAL STOCKHOLDERS' EQUITY 5,659
TOTAL $ 35,529
==========
6
THE AES CORPORATION
PRO RATA CONSOLIDATED BALANCE SHEET (INCLUDES CILCORP AND IPALCO)
JUNE 30, 2001
($ in millions)
ASSETS
CURRENT ASSETS
Cash and cash equivalents $ 1,270
Short-term investments 364
Accounts receivable, net 1,712
Inventory 516
Receivable from affiliates 18
Deferred income taxes 197
Prepaid expenses and other current assets 649
----------
TOTAL CURRENT ASSETS 4,726
PROPERTY, PLANT AND EQUIPMENT
Land 705
Electric generation and distribution assets 21,533
Accumulated depreciation and amortization (3,301)
Construction in progress 3,900
----------
PROPERTY, PLANT AND EQUIPMENT, NET 22,837
OTHER ASSETS
Deferred financing costs, net 423
Project development costs 110
Investments in and advances to affiliates 3,671
Debt service reserves and other deposits 721
Excess of Cost over Net Assets Acquired 2,599
Other assets 2,306
----------
TOTAL OTHER ASSETS 9,830
TOTAL $ 37,393
============
7
LIABILITIES & STOCKHOLDERS' EQUITY
CURRENT LIABILITIES
Accounts payable $ 845
Accrued interest 571
Accrued and other liabilities 1,619
Other notes payable - current portion 676
Project financing debt - current portion 2,137
---------
TOTAL CURRENT LIABILITIES 5,848
LONG-TERM LIABILITIES
Recourse Debt-LT 4,761
Project Financing Debt-LT 12,974
Other notes payable-LT 504
Deferred Tax Liability 2,056
Other long-term liabilities 2,431
---------
TOTAL LONG-TERM LIABILITIES 22,726
TECONS 1,228
STOCKHOLDERS' EQUITY
Common Stock 5
Contributed capital / Additional paid in capital 5,507
Retained earnings 4,641
Accumulated other comprehensive loss (2,562)
---------
TOTAL STOCKHOLDERS' EQUITY 7,591
TOTAL $ 37,393
============
8
CILCORP CONSOLIDATED
INCOME STATMENT
TWELVE MONTHS ENDED 6/30/2001
(Unaudited)
REVENUE:
CILCO ELECTRIC $ 398,889
CILCO GAS 335,395
CILCO OTHER 68,785
OTHER BUSINESSES 52,452
------------------
TOTAL 855,521
------------------
OPERATING EXPENSES:
FUEL FOR GENERATION AND PURCHASED POWER 222,049
GAS PURCHASED FOR RESALE 285,314
OTHER OPERATIONS AND MAINTENANCE 124,552
DEPRECIATION AND AMORTIZATION 87,418
TAXES, OTHER THAN INCOME TAXES 40,573
------------------
TOTAL 759,906
------------------
FIXED CHARGES AND OTHER:
INTEREST EXPENSE 72,832
PREFERRED STOCK DIVIDENDS OF SUBSIDIARY 2,158
ALLOWANCE FOR FUNDS USED DURING CONSTRUCTION (375)
OTHER 1,318
------------------
TOTAL 75,933
------------------
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES 19,682
INCOME TAXES 10,162
------------------
NET INCOME (LOSS) FROM CONTINUING OPERATIONS 9,520
INCOME (LOSS) FROM OPERATIONS OF DISCONTINUED BUSINESS, NET OF TAXES -
EXTRAORDINARY ITEM -
------------------
NET INCOME (LOSS) BEFORE MINORITY INTEREST 9,520
MINORITY INTEREST -
------------------
NET INCOME (LOSS) 9,520
OTHER COMPREHENSIVE INCOME (7,319)
------------------
COMPREHENSIVE INCOME (LOSS) $ 2,201
==================
9
CENTRAL ILLINOIS LIGHT COMPANY
CONSOLIDATED STATEMENT OF INCOME
(Unaudited)
Twelve Months Ended
6/30/2001
Operating Revenues:
Electric $ 398,889
Gas 335,395
-------------------
734,284
-------------------
Operating Expenses:
Cost of Fuel 117,127
Cost of Gas 246,996
Purchased Power 49,148
Other Operation & Maintenance Expenses 118,792
Depreciation and Amortization 68,797
Income Taxes 26,582
Other Taxes 40,485
-------------------
Total Operating Expenses 667,927
-------------------
Operating Income 66,357
Other Income and Deductions
CILCO Owned Life Insurance (1,318)
Other, Net 4,599
-------------------
Total other income and (deductions) 3,281
-------------------
Income Before Interest Expenses 69,638
Interest Expenses:
Interest on Long-Term Debt 17,313
Cost of Borrowed Funds Capitalized (375)
Other 7,626
-------------------
Total interest expense 24,564
-------------------
Net (loss) Income Before Preferred Dividends 45,074
-------------------
Preferred Stock Dividends 2,158
-------------------
Net Inc Available for Common Stock $ 42,916
-------------------
-------------------
10
CILCORP INC. AND SUBSIDIARIES
Consolidated Balance Sheets
(In thousands)
(Unaudited)
June 30,
2001
ASSETS
Current assets:
Cash and temporary cash investments $ 11,046
Receivables, less reserves of $1,151 and $1,343 88,753
Accrued unbilled revenue 27,017
Fuel, at average cost 16,166
Materials and supplies, at average cost 18,567
Gas in underground storage, at average cost 20,439
FAC/PGA underrecoveries 870
Prepayments and other 9,029
----------
Total current assets 191,887
----------
Investments and other property:
Investment in leveraged leases 136,261
Other investments 20,150
----------
Total investments and other property 156,411
----------
Property, plant and equipment:
Utility plant, at original cost
Electric 703,065
Gas 221,063
----------
924,128
Less - accumulated provision for depreciation 97,273
----------
826,855
Construction work in progress 40,137
Other, net of depreciation 79
----------
Total property, plant and equipment 867,071
----------
Other assets:
Goodwill, net of accumulated amortization of $26,087 and $18,422 586,877
Other 68,495
----------
Total other assets 655,372
----------
Total assets $1,870,741
==========
11
CILCORP INC. AND SUBSIDIARIES
Consolidated Balance Sheets
(In thousands)
(Unaudited)
June 30,
2001
LIABILITIES AND STOCKHOLDER'S EQUITY
Current liabilities:
Current portion of long-term debt $ 18,900
Notes payable 111,434
Accounts payable 66,001
Accrued taxes 19,476
Accrued interest 17,386
FAC/PGA overrecoveries 1,841
Other 17,064
----------
Total current liabilities 252,102
----------
Long-term debt 719,106
----------
Deferred credits and other liabilities:
Deferred income taxes 188,386
Regulatory liability of regulated subsidiary 43,147
Deferred investment tax credits 15,356
Freeman contract liability 83,524
Other 79,231
----------
Total deferred credits and other liabilities 409,644
----------
Preferred stock of subsidiary without mandatory redemption 19,120
Preferred stock of subsidiary with mandatory redemption
22,000
----------
Total 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 (deficit) (12,745)
Accumulated other comprehensive income (loss) (7,319)
----------
Total stockholder's equity 448,769
----------
Total liabilities and stockholder's equity $1,870,741
==========
12
CENTRAL ILLINOIS LIGHT COMPANY
Consolidated Balance Sheets
(In thousands)
(Unaudited)
June 30,
2001
ASSETS
Utility plant, at original cost:
Electric $1,312,960
Gas 444,429
----------
1,757,389
Less - accumulated provision for depreciation 956,526
----------
800,863
Construction work in progress 40,137
----------
Total utility plant 841,000
----------
Other property and investments:
Cash surrender value of company-owned life insurance (net of related
policy loans of $63,483 and $59,292) 3,098
Other 1,130
----------
Total other property and investments 4,228
----------
Current assets:
Cash and temporary cash investments 5,616
Receivables, less reserves of $1,151 and $1,343 76,835
Accrued unbilled revenue 24,857
Fuel, at average cost 16,166
Materials and supplies, at average cost 15,822
Gas in underground storage, at average cost 20,439
Prepaid taxes 6,171
FAC/PGA underrecoveries 870
Other 8,987
----------
Total current assets 175,763
----------
Deferred debits:
Unamortized loss on reacquired debt 2,570
Unamortized debt expense 1,366
Prepaid pension cost 229
Other 39,844
----------
Total deferred debits 44,009
----------
Total assets $1,065,000
==========
13
CENTRAL ILLINOIS LIGHT COMPANY
Consolidated Balance Sheets
(In thousands)
(Unaudited)
June 30,
2001
CAPITALIZATION AND LIABILITIES
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 129,190
Accumulated other comprehensive income (loss) (7,844)
----------
Total common stockholder's equity 334,007
Preferred stock without mandatory redemption 19,120
Preferred stock with mandatory redemption 22,000
Long-term debt 244,107
----------
Total capitalization 619,234
----------
Current liabilities:
Current maturities of long-term debt 1,400
Notes payable 80,434
Accounts payable 55,686
Accrued taxes 24,351
Accrued interest 7,985
FAC/PGA overrecoveries 1,841
Other 16,992
----------
Total current liabilities 188,689
----------
Deferred credits and other liabilities:
Deferred income taxes 114,004
Regulatory liability 43,146
Deferred investment tax credit 15,356
Capital lease obligation 315
Other 84,256
----------
Total deferred credits and other liabilities 257,077
----------
Total capitalization and liabilities $1,065,000
==========
14
ITEM (2) PER EXEMPTION ORDER (INCOME STATEMENT AMOUNTS ARE 12 MONTHS ENDED):
CILCO/CILCORP CONTRIBUTIONS TO
AES/CILCORP CONSOLIDATED HOLDING COMPANY
(GAAP BASIS)
($MM)
------------------------------------------------------------------------------------------------------
12 MOS. 6/30/00 12 MOS. 6/30/01
------------------------------------------------------------------------------------------------------
GROSS REVENUES %-CILCO 11.42% 9.03%
CILCO 589 803
AES 4,989 8,039
AES/CILCORP 5,159 8,895
---------------------------------------------------------------------------------------------------
GROSS REVENUES %-CILCORP 11.76% 9.62%
CILCORP (Including CILCO) 607 856
AES 4,989 8,039
AES/CILCORP 5,159 8,895
---------------------------------------------------------------------------------------------------
NET OPERATING REVENUES %-CILCO 9.65% 6.10%
CILCO 401 437
AES 4,088 6,708
AES/CILCORP 4,154 7,163
---------------------------------------------------------------------------------------------------
NET OPERATING REVENUES %-CILCORP 9.87% 6.35%
CILCORP (Including CILCO) 410 455
AES 4,088 6,708
AES/CILCORP 4,154 7,163
---------------------------------------------------------------------------------------------------
OPERATING INCOME %-CILCO 5.07% 4.67%
CILCO 61 97
AES 1,214 1,982
AES/CILCORP 1,203 2,078
---------------------------------------------------------------------------------------------------
OPERATING INCOME %-CILCORP 3.91% 4.62%
CILCORP (Including CILCO) 47 96
AES 1,214 1,982
AES/CILCORP 1,203 2,078
---------------------------------------------------------------------------------------------------
NET INCOME %-CILCO 5% 7.08%
CILCO 22 43
AES 455 597
AES/CILCORP 440 607
---------------------------------------------------------------------------------------------------
NET INCOME %-CILCORP -2.5% 1.65%
CILCORP (Including CILCO) (11) 10
AES 455 597
AES/CILCORP 440 607
---------------------------------------------------------------------------------------------------
NET ASSETS %-CILCO 3.56% 3%
CILCO 1,032 1,065
AES 29,020 33,658
AES/CILCORP 29,020 35,529
---------------------------------------------------------------------------------------------------
NET ASSETS %-CILCORP 6.22% 5.27%
CILCORP (Including CILCO) 1,804 1,871
AES 29,020 33,658
AES/CILCORP 29,020 35,529
---------------------------------------------------------------------------------------------------
15
CILCO/CILCORP CONTRIBUTIONS TO
AES/CILCORP CONSOLIDATED HOLDING COMPANY
(PRO RATA CONSOLIDATION BASIS)
($MM)
-----------------------------------------------------------------------------------------------------------
12 MOS. 6/30/00 12 MOS. 6/30/01
-----------------------------------------------------------------------------------------------------------
GROSS REVENUES %-CILCO 8.42% 8.38%
CILCO 589 803
AES 6,822 8,723
AES/CILCORP 6,992 9,579
------------------------------------------------------------------------------------------------------
GROSS REVENUES %-CILCORP 8.68% 8.94%
CILCORP (Including CILCO) 607 856
AES 6,822 8,723
AES/CILCORP 6,992 9,579
------------------------------------------------------------------------------------------------------
NET OPERATING REVENUES %-CILCO 5.82% 5.47%
CILCO 401 437
AES 5,857 7,526
AES/CILCORP 6,888 7,981
------------------------------------------------------------------------------------------------------
NET OPERATING REVENUES %-CILCORP 5.95% 5.70%
CILCORP (Including CILCO) 410 455
AES 5,857 7,526
AES/CILCORP 6,888 7,981
------------------------------------------------------------------------------------------------------
OPERATING INCOME %-CILCO 3.54% 4.11%
CILCO 61 97
AES 1,731 2,262
AES/CILCORP 1,721 2,358
------------------------------------------------------------------------------------------------------
OPERATING INCOME %-CILCORP 2.73% 4.07%
CILCORP (Including CILCO) 47 96
AES 1,731 2,262
AES/CILCORP 1,721 2,358
------------------------------------------------------------------------------------------------------
NET INCOME %-CILCO 5% 7.08%
CILCO 22 43
AES 455 597
AES/CILCORP 440 607
------------------------------------------------------------------------------------------------------
NET INCOME %-CILCORP -2.5% 1.65%
CILCORP (Including CILCO) (11) 10
AES 455 597
AES/CILCORP 440 607
------------------------------------------------------------------------------------------------------
NET ASSETS %-CILCO 3% 2.85%
CILCO 1,032 1,065
AES 34,182 35,522
AES/CILCORP 34,182 37,393
------------------------------------------------------------------------------------------------------
NET ASSETS %-CILCORP 5.27% 5%
CILCORP (Including CILCO) 1,804 1,871
AES 34,182 35,522
AES/CILCORP 34,182 37,393
------------------------------------------------------------------------------------------------------
16
ITEM (3) PER EXEMPTION ORDER - GENERATION INFORMATION:
AES Generating Plants in Operation at June 30, 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
AES Thermo Ecotek - Hemphill USA 14 67% 9 QF
AES Thermo Ecotek - Whitefield USA 14 100% 14 QF
AES Thermo Ecotek - Woodland USA 25 100% 25 QF
DOMESTIC SUBTOTAL: 6,526 6,521
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
17
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
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 99% 748 FUCO
plants)
AES Chivor (Gener) Columbia 1,000 96% 960 FUCO
AES Electrica de Santiago (Gener) Chile 379 74% 280 FUCO
18
AES Energia Verde (Gener - 2 Chile 17 99% 17 FUCO
plants)
AES Guacolda (Gener) Chile 304 49% 149 FUCO
AES Norgener (Gener - 2 plants) Chile 276 99% 273 FUCO
Itabo (Gener - 7 plants) Dom. Rep. 587 24% 141 FUCO
AES Thermo Ecotek - ECS Czech Rep. 50 83 42 FUCO
AES Thermo Ecotek - Premnitz Germany 58 65 38 FUCO
FOREIGN SUBTOTAL: 39,425 28,421
TOTAL - June 30, 2001 45,951 34,942
Foreign Generation as a
Percentage of Total: 86% 81%
CILCORP Generating Plants at June 30, 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 - June 30, 2001 1,172 1,172
Revenues from electric generation capacity - 12 months ended June 30, 2001
(millions of dollars):
CILCORP 160 4%
AES (excluding CILCORP)(1) 3,780 96%
----- ---
Total 3,940 100%
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 172 MW increase in the amount of generation capacity owned by AES
(excluding CILCORP and IPALCO) from 34,770 to 34,942 MW since March 31, 2001.
There has been a 6% increase in the total revenues earned from the capacity
owned by AES and CILCORP in the twelve-month period ended June 30, 2001 compared
with the twelve-month period ended March 31, 2001.
-----------------------
(1) Includes revenues from electric generating capacity owned by IPALCO.
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The percentage of total revenues derived from the generation capacity owned
by CILCORP has remained the same at 4%.
The physical location of the MW capacity added by AES since March 31, 2001 is
in the United States, the Czech Republic and Germany.
ITEM (4) PER EXEMPTION ORDER - ELECTRIC TRANSMISSION AND DISTRIBUTION AND
GAS DISTRIBUTION:
Electric transmission and distribution and gas distribution assets owned as of
June 30, 2001 (millions of dollars):
CILCORP 763
Total AES (excluding CILCORP)(2) 6,012
-----
Total 6,775
Electric transmission and distribution and gas distribution revenues for 12
months ending June 30, 2001 (millions of dollars):
CILCORP 575
AES (excluding CILCORP)(3) 5,064
-----
Total 5,639
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
increased since March 31, 2001. CILCORP's transmission and distribution assets
have decreased while the revenues derived from such assets have increased since
March 31, 2001. AES' transmission and distribution assets have increased and the
revenues derived from such assets have increased since March 31, 2001. CILCORP's
percentage of the total transmission and distribution assets has decreased from
12% to 11% and CILCORP's percentage of the total revenues from such assets has
decreased from 12% to 10% for the twelve-month period ending June 30, 2001
compared to the twelve-month period ending March 31, 2001.
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
second quarter of 2001.
------------------------
(2) Includes transmission and distribution assets owned by IPALCO.
(3) Includes revenues from transmission and distribution assets owned by
IPALCO.
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ITEM (6) PER EXEMPTION ORDER:
During the second 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 29th day of August, 2001 by the undersigned thereunto duly authorized.
The AES Corporation
By: /s/ WILLIAM R. LURASCHI
---------------------------------
William R. Luraschi
Vice President and Secretary
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