Exhibit 99.2
NSTAR
Condensed Consolidated Statements of Income (Unaudited)
|
|
| Three Months Ended |
| |||
|
|
| September 30, |
| |||
(in millions) |
|
| 2004 |
|
| 2003 |
|
|
|
|
|
|
|
|
|
Operating revenues |
| $ | 781.5 |
| $ | 817.3 |
|
|
|
|
|
|
|
|
|
Operating expenses: |
|
|
|
|
|
|
|
Purchased power, cost of gas and demand |
|
|
|
|
|
|
|
side management |
|
| 448.9 |
|
| 468.4 |
|
Operations and maintenance |
|
| 103.2 |
|
| 122.5 |
|
Depreciation and amortization |
|
| 60.1 |
|
| 56.7 |
|
Taxes |
|
| 68.0 |
|
| 67.4 |
|
Total operating expenses |
|
| 680.2 |
|
| 715.0 |
|
|
|
|
|
|
|
|
|
Operating income |
|
| 101.3 |
|
| 102.3 |
|
|
|
|
|
|
|
|
|
Other income (expense): |
|
|
|
|
|
|
|
Interest charges |
|
| (39.2 | ) |
| (39.2 | ) |
Other income, net |
|
| 1.7 |
|
| 1.1 |
|
|
|
|
|
|
|
|
|
Preferred dividends of subsidiary |
|
| 0.5 |
|
| 0.5 |
|
Net income |
| $ | 63.3 |
| $ | 63.7 |
|
|
|
|
|
|
|
|
|
NSTAR
Condensed Consolidated Balance Sheets (Unaudited)
(in millions) |
|
| September 30, |
|
| December 31, |
|
|
| 2004 |
|
| 2003 |
Assets |
|
|
|
|
|
|
Property, plant and equipment, net |
| $ | 3,507.9 |
| $ | 3,376.7 |
Investments |
|
| 72.3 |
|
| 68.9 |
Current assets |
|
| 519.6 |
|
| 501.0 |
Regulatory assets and goodwill |
|
| 2,172.1 |
|
| 2,294.2 |
Other deferred debits |
|
| 77.0 |
|
| 79.9 |
Total assets |
| $ | 6,348.9 |
| $ | 6,320.7 |
|
|
|
|
|
|
|
Capitalization and Liabilities |
|
|
|
|
|
|
Common equity |
| $ | 1,426.7 |
| $ | 1,361.6 |
Long-term debt and preferred stock |
|
| 2,250.9 |
|
| 2,025.5 |
Current liabilities |
|
| 706.2 |
|
| 939.9 |
Deferred taxes and unamortized investment tax credits |
|
| 801.4 |
|
| 765.5 |
Regulatory liability - cost of removal |
|
| 257.4 |
|
| 223.1 |
Other deferred credits |
|
| 906.3 |
|
| 1,005.1 |
Total capitalization and liabilities |
| $ | 6,348.9 |
| $ | 6,320.7 |
NSTAR
Energy Sales - Three Month Periods Ended September 30,
Retail Electric Sales - gWh
|
|
|
| % | |||
|
| 2004 |
| 2003 |
| Change | |
Residential |
| 1,715 |
| 1,827 |
| (6.1 | )% |
Commercial |
| 3,428 |
| 3,441 |
| (0.4 | )% |
Industrial and other |
| 479 |
| 498 |
| (3.8 | )% |
Total |
| 5,622 |
| 5,766 |
| (2.5 | )% |
Firm Gas Sales and Transportation - BBTU
|
|
|
| % | |||
|
| 2004 |
| 2003 |
| Change | |
Residential |
| 1,462 |
| 1,517 |
| (3.6 | )% |
Commercial |
| 1,667 |
| 1,622 |
| 2.8 | % |
Industrial and other |
| 965 |
| 984 |
| (1.9 | )% |
Total |
| 4,094 |
| 4,123 |
| (0.7 | )% |