twenty-third 70-8649
UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
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In the Matter of
TWENTY-THIRD
NATIONAL FUEL GAS COMPANY CERTIFICATE
HORIZON ENERGY DEVELOPMENT, INC. PURSUANT TO
RULE 24
File No. 70-8649
(Public Utility Holding Company Act of 1935)
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THIS IS TO CERTIFY, pursuant to Rule 24, that certain transactions
proposed by National Fuel Gas Company ("National") and its subsidiary, Horizon
Energy Development, Inc. ("Horizon") in its Application-Declaration on Form U-1,
as amended (File No. 70-8649), have been carried out in accordance with the
terms and conditions of said Application-Declaration and the Order (HCAR No.
35-26364, dated August 29, 1995) of the Securities and Exchange Commission (the
"Commission") with respect thereto, and that the following information for the
quarter ended March 31, 2001 is herein provided:
1a) Horizon's balance sheet at March 31, 2001 is attached as
Exhibit 1.
1b) National's balance sheet at March 31, 2001 is included in
National's Form 10-Q for the quarter ended March 31, 2001
which was filed with the Commission on May 15, 2001 and is
incorporated herein by reference.
2a) Horizon's income statement for the quarter ended March 31,
2001 is attached as Exhibit 2.
2b) National's income statement for the quarter ended March 31,
2001 is included in National's Form 10-Q for the quarter ended
March 31, 2001, which was filed with the Commission on May 15,
2001 and is incorporated herein by reference.
3) Recourse and non-recourse debt securities issued to third
parties by Intermediate Companies during the quarter ended
March 31, 2001.
None.
4) A general description of the activities of the Applicants for
the quarter ended March 31, 2001, and of the projects in which
they or their subsidiary companies have an ownership interest:
The Project Activities (as such term is defined in the aforesaid
Application-Declaration) that National and Horizon, and subsidiaries of
Horizon, were engaged in pursuant to File No. 70-8649, as of March 31,
2001, are as follows:
Horizon, through its wholly owned indirect subsidiaries, Horizon Energy
Holdings, Inc. and Horizon Energy Development, B. V. (HEDBV), continues
to own 100% of the capital stock of each of Horizon Energy Development
s.r.o. ("HED") and Power Development s.r.o. ("PD"). PD in turn
continues to own 100% of the capital stock of Telplarna Kromeriz a.s.
("TK"). These entities continue to engage in power development and
related activities in the Czech Republic and eastern Europe, however,
HEDBV is in the process of liquidating PD, so that TK will become a
direct subsidiary of HEDBV.
The only material asset of HED, PD and TK is the district heating
system of TK, which sells steam heat to its residential and commercial
customers in the city of Kromeriz, Czech Republic. TK continues to
investigate ways to convert the existing steam plant into a
cogeneration facility, or otherwise to generate electricity at the
site.
As of March 31, 2001, HEDBV owned approximately 86% of the capital
stock of United Energy, a.s. (UE), formerly known as Prvni
Severozapadni Teplarenska, a.s. (PSZT). As previously reported, PSZT
was the surviving entity resulting from the merger of PSZT and
Severoceske Teplarny, a.s. (SCT). Both PSZT and SCT, directly, and
through subsidiaries produced heat and power. UE continues to carry on
those operations and distribute heat and sells power at wholesale in
the northern part of the Czech Republic.
HEDBV, as a shareholder of SCT, had received dividends from its
investment in the SCT shares. HEDBV, as a shareholder of PSZT (now UE),
has received, and expects to receive, in the future, dividends from its
investment in UE shares.
The aggregate investment of National and its subsidiaries in electric
wholesale generators and foreign utility companies does not exceed the
limits set forth in the Commission's Rule 53.
5) Information on intercompany service transactions (including
those provided at cost and at market rates) involving
affiliated Intermediate Companies during the quarter ended
March 31, 2001:
Neither Horizon nor National engaged in any intercompany service
transactions with affiliated Intermediate Companies.
May 29, 2001 NATIONAL FUEL GAS COMPANY
By: /s/ P. C. Ackerman
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P. C. Ackerman
President
HORIZON ENERGY DEVELOPMENT,
INC.
By: /s/ R. J. Tanski
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R. J. Tanski
Secretary and Treasurer