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 December 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,
-------------------------------
Earle H. O'Donnell
Andrew B. Young
Hugh E. Hilliard
Dewey Ballantine LLP
1775 Pennsylvania Avenue, N.W.
Washington, D.C. 20006
Dated: March 1, 2002
THE AES CORPORATION
SEC FILING PURSUANT TO SECTION 3(a)(5) EXEMPTION ORDER
QUARTER ENDED DECEMBER 31, 2001
ITEM (1) PER EXEMPTION ORDER (STATEMENTS ATTACHED):
1) Statement of Income of The AES Corporation for the 12 months ended
December 31, 2001:
a) 12 months ended December 31, 2001 GAAP consolidated income statement
b) 12 months ended December 31, 2001 pro rata consolidated income
statement
2) Balance Sheet of The AES Corporation at December 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 December 31, 2001
4) Statement of Income of CILCO for the 12 months ended December 31, 2001
5) Consolidated Balance Sheet of CILCORP at December 31, 2001
6) Consolidated Balance Sheet of CILCO at December 31, 2001
2
THE AES CORPORATION
CONSOLIDATED STATEMENT OF OPERATIONS
(INCLUDES CILCORP AND IPALCO)
FOR THE TWELVE MONTHS ENDED DECEMBER 31, 2001 - GAAP BASIS
(UNAUDITED)
--------------------------------------------------------------------------------
YEAR
ENDED
($ in millions, except per share amounts) 12/31/01
--------------------------------------------------------------------------------
REVENUES:
Sales and services $ 9,327
OPERATING COSTS AND EXPENSES:
Cost of sales and services 7,025
Selling, general and administrative expenses
120
-------
TOTAL OPERATING COSTS AND EXPENSES 7,145
-------
OPERATING INCOME 2,182
OTHER INCOME AND (EXPENSE):
Interest expense, net (1,465)
Other income 41
Equity in earnings of affiliates (before income tax) 175
Nonrecurring severance and transaction costs (131)
-------
INCOME BEFORE INCOME TAXES AND MINORITY INTEREST 802
Income tax provision 230
Minority interest 105
-------
INCOME FROM CONTINUING OPERATIONS 467
Loss from operations of discontinued components
(net of income taxes of $35) (194)
-------
NET INCOME $ 273
=======
3
THE AES CORPORATION
CONSOLIDATED STATEMENT OF OPERATIONS
(INCLUDES CILCORP AND IPALCO)
FOR THE TWELVE MONTHS ENDED DECEMBER 31, 2001 - PRORATA BASIS
(UNAUDITED)
--------------------------------------------------------------------------------
YEAR
ENDED
($ in millions, except per share amounts) 12/31/01
--------------------------------------------------------------------------------
REVENUES:
Sales and services $ 10,486
OPERATING COSTS AND EXPENSES:
Cost of sales and services 7,851
Selling, general and administrative expenses 123
--------
TOTAL OPERATING COSTS AND EXPENSES 7,974
--------
OPERATING INCOME 2,512
OTHER INCOME AND (EXPENSE):
Interest expense, net (1,484)
Other income 66
--------
INCOME BEFORE INCOME TAXES 1,094
Income tax provision 367
--------
NET INCOME $ 727
========
This schedule presents on a proforma basis, the results of operations of AES
excluding the aggregate (both subsidiaries and affiliates) Brazilian affiliates
foreign currency losses of approximately $139 million after income tax, mark to
market losses from FAS No. 133 of approximately $36 million after income tax and
nonrecurring items, including transaction and severance costs related to IPALCO
acquisition of $85 million after income tax. This schedule also excludes loss on
discontinued operations of $194 million consisting mainly of Termocandelaria, Ib
Valley, Power Direct and telecommunication businesses in Brazil and US.
4
THE AES CORPORATION
GAAP BASIS CONSOLIDATED BALANCE SHEET
(INCLUDES CILCORP AND IPALCO)
DECEMBER 31, 2001
($ in millions, unaudited)
ASSETS
CURRENT ASSETS
Cash and cash equivalents $ 1,196
Short-term investments 230
Accounts receivable, net 1,588
Inventory 626
Receivable from affiliates 10
Income tax receivable 58
Prepaid expenses and other current
assets 687
Current assets of discontinued
operations 52
--------
TOTAL CURRENT ASSETS 4,447
PROPERTY, PLANT AND EQUIPMENT
Land 599
Electric generation and distribution assets 21,405
Accumulated depreciation and amortization (3,314)
Construction in progress 4,743
--------
PROPERTY, PLANT AND EQUIPMENT, NET 23,433
OTHER ASSETS
Deferred financing costs,net 481
Project development costs 68
Investments in and advances to affiliates 3,201
Debt service reserves and other deposits 456
Excess of cost net assets acquired, net 3,208
Long term assets of discontinued operations 249
Other assets 1,116
--------
TOTAL OTHER ASSETS 8,779
TOTAL $ 36,659
========
5
LIABILITIES & STOCKHOLDERS' EQUITY
CURRENT LIABILITIES
Accounts payable $ 819
Accrued interest 283
Accrued and other liabilities 1,185
Current liabilities of
discontinued operations 82
Recourse debt-current portion 488
Project Financing Debt- current
portion 1,484
Other notes payable- current portion 504
--------
TOTAL CURRENT LIABILITIES 4,845
LONG-TERM LIABILITIES
Recourse debt 4,912
Project Financing Debt 13,895
Other notes payable 975
Deferred incomes taxes 1,945
Long term liabilities of
discontinued operations 154
Other long-term liabilities 1,900
--------
TOTAL LONG-TERM LIABILITIES 23,781
Minority interest 1,430
Redeemable Securities 978
Preferred Stock 101
STOCKHOLDERS' EQUITY
Common Stock 5
Additional paid-in Capital 5,209
Retained earnings 2,884
Accumulated other comprehensive loss (2,574)
--------
TOTAL STOCKHOLDERS' EQUITY 5,524
TOTAL $ 36,659
========
6
THE AES CORPORATION
PRO RATA CONSOLIDATED BALANCE SHEET
(INCLUDES CILCORP AND IPALCO)
DECEMBER 31, 2001
($ in millions, unaudited)
ASSETS
CURRENT ASSETS
Cash and cash equivalents $ 1,299
Short-term investments 177
Accounts receivable, net 1,901
Inventory 602
Receivable from affiliates 4
Deferred income taxes 82
Prepaid expenses and other current assets 901
Current assets of discontinued operations 46
-------
TOTAL CURRENT ASSETS 5,012
PROPERTY, PLANT AND EQUIPMENT
Land 719
Electric generation and
distribution assets 23,250
Accumulated depreciation and amortization (3,747)
Construction in progress 4,544
-------
PROPERTY, PLANT AND EQUIPMENT, NET 24,766
OTHER ASSETS
Deferred financing costs,net 431
Project development costs 72
Investments in and advances to affiliates 1,284
Debt service reserves and other deposits 813
Excess of Cost over Net Assets 2,831
Acquired
LT assets of discontinued operations 207
Other assets 1,243
-------
TOTAL OTHER ASSETS 6,881
TOTAL $36,659
=======
7
LIABILITIES & STOCKHOLDERS' EQUITY
CURRENT LIABILITIES
Accounts payable $ 955
Accrued interest 344
Accrued and other liabilities 1,396
Current liabilities of
discontinued operations 70
Recourse Debt-current 487
Other notes payable - current portion 412
Project financing debt - current portion 1,747
--------
TOTAL CURRENT LIABILITIES 5,411
LONG-TERM LIABILITIES
Recourse Debt-LT 4,912
Project Financing Debt-LT 14,550
Other notes payable-LT 702
Deferred Tax Liability 1,977
Long term liabilities of
discontinued operations 125
Other long-term liabilities 2,036
--------
TOTAL LONG-TERM LIABILITIES 24,302
Redeemable Securities 978
Preferred Stock 101
STOCKHOLDERS' EQUITY
Common Stock 5
Contributed capital / Additional
paid in capital 5,791
Retained earnings 2,884
Accumulated other comprehensive loss (2,813)
--------
TOTAL STOCKHOLDERS' EQUITY 5,867
TOTAL $ 36,659
========
8
CILCORP Inc. and Subsidiaries
Consolidated Statement of Operations
(Unaudited)
Twelve Months ended December 31, 2001
(In thousands)
Revenue:
CILCO Electric $ 391,811
CILCO Gas 271,434
CILCO Other 96,820
Other Businesses 54,805
---------
Total 814,870
---------
Operating Expenses:
Fuel for Generation and
Purchased Power 210,952
Gas Purchased for Resale 232,347
Other Operations and Maintenance 120,222
Depreciation and Amortization 86,013
State and Local Revenue Taxes 28,181
Other Taxes 11,431
---------
Total 689,146
---------
Fixed Charges and Other:
Interest Expense 69,784
Preferred Stock Dividends
of Subsidiary 2,159
Allowance for Funds Used During
Construction (18)
Other 1,354
---------
Total 73,279
---------
Income (Loss) from Continuing
Operations Before Income Taxes 52,445
Income Taxes 24,100
---------
Net Income (Loss) from
Continuing Operations 28,345
Loss from Operations of
Discontinued Businesses, Net of
Tax of $(2,880) (4,380)
---------
Net Income (Loss) $ 23,965
Other Comprehensive Income (13,576)
---------
Comprehensive Income (Loss) $ 10,389
=========
9
Central Illinois Light Company
Consolidated Statement of Income
(Unaudited)
Twelve Months Ended December 31, 2001
(In thousands)
Operating Revenues:
Electric $ 391,811
Gas 271,434
---------
Total Operating Revenues 663,245
---------
Operating Expenses:
Cost of Fuel 165,232
Cost of Gas 190,348
Purchased Power 44,441
Other Operations and Maintenance 114,741
Depreciation and Amortization 69,133
Income Taxes 6,987
State and Local Taxes on Revenue 28,181
Other Taxes 11,206
---------
Total Operating Expenses 630,269
---------
Operating Income 32,976
---------
Other Income and Deductions:
Company-owned Life Insurance, Net (1,354)
Other, Net 6,698
---------
Total Other Income and (Deductions) 5,344
---------
Income Before Interest Expenses 38,320
---------
Interest Expenses:
Interest on Long-term Debt 17,678
Cost of Borrowed Funds Capitalized (18)
Other 5,820
---------
Total Interest Expenses 23,480
---------
Net Income Before Preferred Dividends 14,840
Dividends on Preferred Stock 2,159
---------
Net Income Available for Common Stock $ 12,681
Other Comprehensive Income (4,830)
---------
Comprehensive Income $ 7,851
=========
10
CILCORP Inc. and Subsidiaries
Consolidated Balance Sheets
(Unaudited)
As of December 31, 2001
(In thousands)
Assets
Current Assets:
Cash and Temporary Cash Investments $ 18,312
Receivables, Less Reserves of $1,800 47,610
Accrued Unbilled Revenue 40,265
Fuel, at Average Cost 18,068
Materials and Supplies, at Average Cost 17,273
Gas in Underground Storage, at Average Cost 27,067
FAC Underrecoveries 1,255
PGA Underrecoveries 3,236
Prepayments and Other 7,627
----------
Total Current Assets 180,713
----------
Investments and Other Property:
Investment in Leveraged Leases 135,504
Other Investments 19,285
----------
Total Investments and Other Property 154,789
----------
Property, Plant and Equipment:
Utility Plant, at Original Cost
Electric 716,857
Gas 233,278
----------
950,135
Less-Accumulated Provision for Depreciation 126,502
----------
823,633
Construction Work in Progress 34,340
Other, Net of Depreciation 14
----------
Total Property, Plant and Equipment 857,987
----------
Other Assets:
Goodwill, Net of Accumulated Amortization
of $33,753 579,211
Other 38,998
----------
Total Other Assets 618,209
----------
Total Assets $1,811,698
==========
11
CILCORP Inc. and Subsidiaries
Consolidated Balance Sheets
(Unaudited)
As of December 31, 2001
(In thousands)
Liabilities and Stockholder's Equity
Current Liabilities:
Current Portion of Long-Term Debt $ 1,400
Notes Payable 63,000
Accounts Payable 75,644
Accrued Taxes 14,879
Accrued Interest 18,392
Other 18,281
-----------
Total Current Liabilities 191,596
-----------
Long-Term Debt 717,730
-----------
Deferred Credits and Other Liabilities:
Deferred Income Taxes 202,822
Regulatory Liability of Regulated Subsidiary 45,377
Deferred Investment Tax Credit 14,553
Provision for Out-of-Market Contract --
Other 83,388
-----------
Total Deferred Credits 346,140
-----------
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
Outstanding 1,000 --
Additional Paid-in Capital 518,833
Retained Earnings 10,305
Accumulated Other Comprehensive Income (14,026)
-----------
Total Stockholder's Equity 515,112
-----------
Total Liabilities and Stockholder's Equity $ 1,811,698
===========
12
Central Illinois Light Company
Consolidated Balance Sheets
(Unaudited)
As of December 31, 2001
(In thousands)
Assets
Utility Plant, At Original Cost:
Electric $1,326,231
Gas 457,165
----------
1,783,396
Less-Accumulated Provision for Depreciation 985,045
----------
798,351
Construction Work in Progress 34,340
----------
Total Utility Plant 832,691
----------
Other Property and Investments:
Cash Surrender Value of Company-owned Life
Insurance (Net of Related Policy Loans of
$65,314 in 2001) 3,920
Other 1,133
----------
Total Other Property and Investments 5,053
----------
Current Assets:
Cash and Temporary Cash Investments 12,584
Receivables, Less Reserves of $1,800 49,375
Accrued Unbilled Revenue 34,067
Fuel, at Average Cost 18,068
Materials and Supplies, at Average Cost 15,849
Gas in Underground Storage, at Average Cost 27,067
Prepaid Taxes 9,007
FAC Underrecoveries 1,255
PGA Underrecoveries 3,236
Other 7,569
----------
Total Current Assets 178,077
----------
Deferred Debits:
Unamortized Loss on Reacquired Debt 2,448
Unamortized Debt Expense 1,305
Prepaid Pension Cost 168
Other 21,971
----------
Total Deferred Debits 25,892
----------
Total Assets $1,041,713
==========
13
Central Illinois Light Company
Consolidated Balance Sheets
(Unaudited)
As of December 31, 2001
(In thousands)
Capitalization and Liabilities
Capitalization:
Common Shareholder's Equity:
Common Stock, No Par Value; Authorized
20,000,000 Shares; Outstanding
13,563,871 Shares $ 185,661
Additional Paid in Capital 52,000
Retained Earnings 108,045
Accumulated Other Comprehensive Income (5,805)
-----------
Total Common Shareholder's Equity 339,901
Preferred Stock Without Mandatory Redemption 19,120
Preferred Stock With Mandatory Redemption 22,000
Long-term Debt 242,730
-----------
Total Capitalization 623,751
-----------
Current Liabilities:
Current Maturities of Long-Term Debt 1,400
Notes Payable 43,000
Accounts Payable 81,140
Accrued Taxes 28,862
Accrued Interest 9,143
Other 18,281
-----------
Total Current Liabilities 181,826
-----------
Deferred Liabilities and Credits:
Accumulated Deferred Income Taxes 92,428
Regulatory Liability 45,377
Investment Tax Credits 14,553
Other 83,778
-----------
Total Deferred Liabilities and Credits 236,136
-----------
Total Capitalization and Liabilities $ 1,041,713
===========
14
ITEM (2) PER EXEMPTION ORDER (INCOME STATEMENT AMOUNTS ARE 12 MONTHS ENDED):
CILCO/CILCORP CONTRIBUTIONS TO
AES/CILCORP CONSOLIDATED HOLDING COMPANY(1)
(GAAP BASIS)
($MM)
-----------------------------------------------------------------------------
12 MOS. 12/31/00 12 MOS. 12/31/01
-----------------------------------------------------------------------------
GROSS REVENUES %-CILCO 9.51% 8.15%
CILCO 636 760
AES 5,967 8,512
AES/CILCORP 6,691 9,327
-----------------------------------------------------------------------------
GROSS REVENUES %-CILCORP 10.82% 8.74%
CILCORP (Including CILCO) 724 815
AES 5,967 8,512
AES/CILCORP 6,691 9,327
-----------------------------------------------------------------------------
NET OPERATING REVENUES %-CILCO 8.42% 5.61%
CILCO 414 402
AES 4,485 6,664
AES/CILCORP 4,917 7,163
-----------------------------------------------------------------------------
NET OPERATING REVENUES %-CILCORP 8.78% 6.97%
CILCORP (Including CILCO) 432 499
AES 4,485 6,664
AES/CILCORP 4,917 7,163
-----------------------------------------------------------------------------
OPERATING INCOME %-CILCO 6.38% 2.20%
CILCO 103 48
AES 1,518 2,056
AES/CILCORP 1,615 2,182
-----------------------------------------------------------------------------
OPERATING INCOME %-CILCORP 6.01% 5.77%
CILCORP (Including CILCO) 97 126
AES 1,518 2,056
AES/CILCORP 1,615 2,182
-----------------------------------------------------------------------------
NET INCOME %-CILCO 6.86% 4.76%
CILCO 44 13
AES 630 249
AES/CILCORP 641 273
-----------------------------------------------------------------------------
NET INCOME %-CILCORP 1.72% 8.79%
CILCORP (Including CILCO) 11 24
AES 630 249
AES/CILCORP 641 273
-----------------------------------------------------------------------------
NET ASSETS %-CILCO 3.57% 2.84%
CILCO 1,107 1,042
AES 29,085 34,847
AES/CILCORP 31,033 36,659
-----------------------------------------------------------------------------
NET ASSETS %-CILCORP 6.28% 4.94%
CILCORP (Including CILCO) 1,948 1,812
AES 29,085 34,847
AES/CILCORP 31,033 36,659
-----------------------------------------------------------------------------
--------
(1) The filing on March 31, 2001 included Cilcorp in the numbers reported for
AES for the twelve months ended December 31, 2000. The numbers presented
for AES in this filing exclude Cilcorp for both the twelve months ended
December 31, 2000 and 2001.
15
CILCO/CILCORP CONTRIBUTIONS TO
AES/CILCORP CONSOLIDATED HOLDING COMPANY(1)
(PRO RATA CONSOLIDATION BASIS)(2)
($MM)
-----------------------------------------------------------------------------
12 MOS. 12/31/00 12 MOS. 12/31/01
-----------------------------------------------------------------------------
GROSS REVENUES %-CILCO 8.15% 7.25%
CILCO 636 760
AES 7,079 10,031
AES/CILCORP 7,803 10,486
-----------------------------------------------------------------------------
GROSS REVENUES %-CILCORP 9.28% 7.77%
CILCORP (Including CILCO) 724 815
AES 7,079 10,031
AES/CILCORP 7,803 10,486
-----------------------------------------------------------------------------
NET OPERATING REVENUES %-CILCO 7.47% 4.84%
CILCO 414 402
AES 5,112 7,814
AES/CILCORP 5,544 8,313
-----------------------------------------------------------------------------
NET OPERATING REVENUES %-CILCORP 7.79% 6%
CILCORP (Including CILCO) 432 499
AES 5,112 7,814
AES/CILCORP 5,544 8,313
-----------------------------------------------------------------------------
OPERATING INCOME %-CILCO 5.26% 1.91%
CILCO 103 48
AES 1,862 2,386
AES/CILCORP 1,959 2,512
-----------------------------------------------------------------------------
OPERATING INCOME %-CILCORP 4.95% 5.01%
CILCORP (Including CILCO) 97 126
AES 1,862 2,386
AES/CILCORP 1,959 2,512
-----------------------------------------------------------------------------
NET INCOME %-CILCO 6.86% 1.79%
CILCO 44 13
AES 630 703
AES/CILCORP 641 727
-----------------------------------------------------------------------------
NET INCOME %-CILCORP 1.72% 3.30%
CILCORP (Including CILCO) 11 24
AES 630 703
AES/CILCORP 641 727
-----------------------------------------------------------------------------
NET ASSETS %-CILCO 3.30% 2.84%
CILCO 1,107 1,042
AES 31,626 34,847
AES/CILCORP 33,574 36,659
-----------------------------------------------------------------------------
NET ASSETS %-CILCORP 5.80% 4.94%
CILCORP (Including CILCO) 1,948 1,812
AES 31,626 34,847
AES/CILCORP 33,574 36,659
-----------------------------------------------------------------------------
(1) The filing on March 31, 2001 included Cilcorp in the numbers reported for
AES for the twelve months ended December 31, 2000. The numbers presented
for AES in this filing exclude Cilcorp for both the twelve months ended
December 31, 2000 and 2001.
(2) This schedule presents on a proforma basis, the results of operations of
AES excluding the aggregate (both subsidiaries and affiliates) Brazilian
affiliates foreign currency losses of approximately $139 million after
income tax, mark to market losses from FAS No. 133 of approximately $36
million after income tax and nonrecurring items, including transaction and
severance costs related to IPALCO acquisition of $85 million after income
tax. This schedule also excludes loss on discontinued operations of $194
million consisting mainly of Termocandelaria, Ib Valley, Power Direct and
telecomunication businesses in Brazil and US. If the excluded items are
taken into account, certain CILCO/CILCORP contributions to AES/CILCORP on a
consolidated basis would be different as follows: 4.76% CILCO to Net Income
and 8.79% CILCORP to Net Income.
16
ITEM (3) PER EXEMPTION ORDER - GENERATION INFORMATION:
AES Generating Plants in Operation at December 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
AES Thermo Ecotek - Hemphill USA 14 67 9 QF
AES Thermo Ecotek - Whitefield USA 14 100 14 QF
AES Thermo Ecotek - Mendota USA 25 100 25 QF
AES Delano USA 50 100 50 QF
AES Riverside USA 154 100 154 EWG
AES Mountainview USA 126 100 126 EWG
AES Ironwood USA 705 100 705 EWG
DOMESTIC SUBTOTAL: 7,561 7,556
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
17
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 1,000 100 1,000 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 9 456 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
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 115 70 81 FUCO
AES Hefei II China 39 70 27 FUCO
AES Chongqing Nanchuan China 50 70 35 FUCO
Yangcheng China 1050 25 263 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 Managt 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 U.K. 4,065 100 4,065 FUCO
AES Fifoots Point U.K. 360 100 360 FUCO
18
AES Uruguaiana Brazil 600 100 600 FUCO
AES Tiete (10 plants) Brazil 2,650 53 1,405 FUCO
EDC (4 plants) Venezuela 2,265 87 1,971 FUCO
AES Merida III Mexico 484 55 266 FUCO
AES Mtkvari Georgia 600 Managt 600 FUCO
AES Khrami I Georgia 113 Managt 113 FUCO
AES Khrami II Georgia 110 100 110 FUCO
AES Ottana Italy 140 100 140 FUCO
AES Mamonal Columbia 90 62 56 FUCO
AES Centrogener (Gener - 8 plants) Chile 756 99 748 FUCO
AES Chivor (Gener) Columbia 1,000 96 960 FUCO
AES Electrica de Santiago (Gener) Chile 478 86 411 FUCO
AES Energia Verde (Gener - 2 plants) Chile 37 99 37 FUCO
AES Guacolda (Gener) Chile 304 49 149 FUCO
AES Norgener (Gener - 2 plants) Chile 277 99 274 FUCO
Itabo (Gener - 7 plants) Dom. Rep. 587 24 141 FUCO
AES Bohemia Czech Rep. 50 83 42 FUCO
AES Premnitz Germany 58 65 38 FUCO
AES SONEL Cameroon 800 51 408 FUCO
Central Dique Argentina 68 31 21 FUCO
AES Termoandes Argentina 632 99 626 FUCO
AES Parana Argentina 845 67 566 FUCO
AES Kelvin Rep. South Africa 600 90 540 FUCO
Egbin Barge Nigeria 290 95 276 FUCO
FOREIGN SUBTOTAL: 43,205 31,168
TOTAL - December 31, 2001 50,766 38,724
Foreign Generation as a Percentage of 85% 80%
Total:
CILCORP Generating Plants at December 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 - December 31, 2001 1,172 1,172
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Revenues from electric generation capacity - 12 months ended December 31, 2001
(millions of dollars):
CILCORP 157 3%
AES (excluding CILCORP)(1) 4,450 97%
----- -----
Total 4,607 100%
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 2,788 MW increase in the amount of generation capacity owned by
AES (excluding CILCORP and IPALCO) from 35,936 to 38,724 MW since September
30, 2001. There has been a 10.8% increase in the total revenues earned from
the capacity owned by AES and CILCORP in the twelve-month period ended
December 31, 2001 compared with the twelve-month period ended September 30,
2001. The percentage of total revenues derived from the generation capacity
owned by CILCORP has decreased from 4% to 3%.
The physical location of the MW capacity added by AES since September 30, 2001
is in the United States, Argentina, Republic of South Africa, Nigeria, Chile and
China.
ITEM (4) PER EXEMPTION ORDER - ELECTRIC TRANSMISSION AND DISTRIBUTION AND GAS
DISTRIBUTION:
Electric transmission and distribution and gas distribution assets owned as of
December 31, 2001 (millions of dollars):
CILCORP 746
Total AES (excluding CILCORP)(2) 7,004
-----
Total 7,750
Electric transmission and distribution and gas distribution revenues for 12
months ending December 31, 2001 (millions of dollars):
CILCORP 507
AES (excluding CILCORP)(3) 5,372
-----
Total 5,879
-----------
(1) Includes revenues from electric generating capacity owned by IPALCO.
(2) Includes transmission and distribution assets owned by IPALCO.
(3) Includes revenues from transmission and distribution assets owned by
IPALCO.
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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 have
increased since September 30, 2001. CILCORP's transmission and distribution
assets have decreased while the revenues derived from such assets have decreased
since September 30, 2001. AES' transmission and distribution assets have
increased and the revenues derived from such assets have decreased since
September 30, 2001. CILCORP's percentage of the total transmission and
distribution assets has decreased from 11% to 10% and CILCORP's percentage of
the total revenues from such assets remained the same at 9% for the twelve-month
period ending December 31, 2001 compared to the twelve-month period ending
September 30, 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
fourth quarter of 2001.
ITEM (6) PER EXEMPTION ORDER:
During the fourth 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 1st day of March, 2002 by the undersigned thereunto duly authorized.
The AES Corporation
By: /s/ Erik Luckau
---------------------
Erik Luckau
Associate General Counsel
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