UNITED STATES OF AMERICA
BEFORE THE SECURITIES AND EXCHANGE COMMISSION
Washington, D. C.
. . . . . . . . . . . . . . . . . . . . . . . . . .
In the Matter of
..
ENTERGY ARKANSAS, INC.
..
ENTERGY LOUISIANA, INC.
..
ENTERGY MISSISSIPPI, INC.
..
ENTERGY NEW ORLEANS, INC.
..
File No. 70-5015
..
________________
.. CERTIFICATE
.. PURSUANT TO
.. RULE 24
In the Matter of
..
SYSTEM FUELS, INC.
..
SYSTEM ENERGY RESOURCES, INC.
..
ENTERGY ARKANSAS, INC.
..
ENTERGY LOUISIANA, INC.
..
ENTERGY MISSISSIPPI, INC.
..
ENTERGY NEW ORLEANS, INC.
..
File No. 70-5889
..
________________
..
..
(Public Utility Holding Company Act of 1935) .
Pursuant to Rule 24 promulgated by the Securities and Exchange Commission (SEC) under the Public Utility Holding Company Act of 1935, modified by request in the application(s) - declaration(s) referenced above, this is to certify that the following transactions were carried out and borrowings made, during the first quarter ended March 31, 2003 pursuant to System Fuels, Inc.'s (SFI) function as a supplier of fuel for the Entergy Corporation Operating Companies (System) in accordance with the terms and conditions of and for the purposes represented in the application(s) - declaration(s), as amended, and pursuant to the Orders of the SEC, dated December 17, 1971 in File No. 70-5015 and April 28, 1978 in File No. 70-5889.
Expenditures for SFI's fuel program for 2003 during the 1st quarter are indicated below:
|
Net Expenditures |
||
|
1st Quarter |
Year-To-Date |
|
|
2003 Fuel Supply Program: |
||
|
1. Gas and Oil Development |
$ 0 |
$ 0 |
|
2. Nuclear Fuel Procurement |
10,354 |
10,354 |
|
3. Fuel Oil Program |
23,409 |
23,409 |
|
TOTAL EXPENDITURES |
33,763 |
33,763 |
|
Less funds derived through |
||
|
Amortization of Gas & Oil |
0 | 0 |
|
Depreciation & Other |
2 |
2 |
|
TOTAL depreciation & amortization |
2 |
2 |
|
Net Expenditures |
33,765 |
33,765 |
|
(Increase) decrease in: |
|
|
|
TOTAL (increase)decrease |
(34,318) |
(34,318) |
|
Increase (decrease) in working |
|
|
|
1. Gas and Oil Development and |
||
|
Net Expenditures |
||
|
1st quarter |
Year-To-Date |
|
|
Gas and Oil Development |
$ 0 |
$ 0 |
Effective July 1, 1996, SFI sold its interest in the properties associated with its Gas and Oil Development and Production Program (the program).
During this quarter, SFI had no expenditures relative to the continuing shutdown of this operation. As of March 31, 2003, accumulated net proceeds of approximately $578,134 are retained at SFI for the continuing shutdown activities.
Calculation of the net expenditures (proceeds) from the continuing shutdown activities of the Program, is:
|
|
Net Expenditures |
|
|
|
1st Quarter |
Year-To-Date |
|
Sales to non-System parties: |
|
|
|
TOTAL |
0 |
0 |
|
Miscellaneous income (including |
0 |
0 |
|
TOTAL |
0 |
0 |
|
General and administrative |
0 |
0 |
|
Net proceeds |
$ 0 |
$ 0 |
|
2. Nuclear Fuel Procurement |
|
|
|
|
|
|
|
|
Net Expenditures |
|
|
|
1st Quarter |
Year-To-Date |
|
Nuclear Fuel Procurement |
$10,354 |
$10,354 |
|
|
Net Expenditures |
|
|
|
1st Quarter |
Year-To-Date |
|
Activities during the period: |
|
|
|
TOTAL |
10,357 |
10,357 |
|
Sales of nuclear materials and |
|
|
|
Net effect on inventory |
$10,354 |
$10,354 |
|
3. Fuel Oil Program |
|
|
|
|
|
Net Expenditures |
||
|
|
1st Quarter |
Year-To-Date |
|
|
Fuel Oil Inventory |
$ 23,409 |
$ 23,409 |
|
|
a) Fuel Oil Inventory: |
|
|
|
|
|
Barrels |
Book Value |
|
|
Inventory as of: |
(In Thousands) |
||
|
March 31, 2003 |
1,464 |
51,586 |
|
|
December 31, 2002 |
1,382 |
28,177 |
|
|
September 30, 2002 |
1,370 |
27,471 |
|
|
June 30, 2002 |
1,373 |
27,607 |
|
|
March 31, 2002 |
1,445 |
28,880 |
|
|
|
|
|
|
|
|
|
|
|
|
|
During 1st Quarter |
|
|
|
|
Barrels |
Value |
|
|
Sales price per barrel |
|
|
|
|
Excluding period cost: |
|
|
|
|
#2 Fuel Oil |
86,303 |
32.25 |
|
|
#6 Fuel Oil |
749,798 |
15.61 |
|
|
|
|
|
|
4. Other Items:
a) As of March 31, 2003, SFI's outstanding debt and Parent Companies investment consisted of:
Parent Companies: |
In Thousands |
Common Stock |
$ 20 |
Notes payable |
34,000 |
TOTAL |
34,020 |
System Money Pool |
34,318 |
Banks |
0 |
TOTAL |
68,338 |
b) As of January 1, 1987, SFI's employees were transferred to Entergy Services, Inc. (Entergy Services). Entergy Services bills SFI for labor associated with the operation of continuing activities for SFI and other services provided to SFI (financial, legal, administrative, and other activities). For the 1st quarter of 2003, SFI was billed by Entergy Services for the following amounts:
|
January |
February |
March |
Total 1st Qtr |
|
|
Cost of service charged |
||||
|
Direct Cost: |
||||
|
Labor and related Cost |
$ 6,473 |
$ 6,988 |
$ 3,780 |
$ 17,241 |
|
Other direct cost |
6,053 |
2,466 |
(725) |
7,794 |
|
Indirect Cost |
1,796 |
1,687 |
771 |
4,254 |
|
TOTAL |
14,322 |
11,141 |
3,826 |
29,289 |
|
Cost of services charged |
|
|
|
|
|
Total cost of services |
$ 40,772 |
$ 84,565 |
$ 105,748 |
$ 231,085 |
|
Amounts billed to |
|
|
|
|
|
Charged to Nuclear Fuel |
5,103 |
23,416 |
28,603 |
57,122 |
|
TOTAL |
$ 40,772 |
$ 84,565 |
$ 105,748 |
$ 231,085 |
* Charged to the Fuel Oil Program as a component of period costs. Effective January 1, 1998, Fuel Oil Program period costs are recorded by plant, to the extent possible, and direct billed to the operating company that owns the facility where incurred. Costs which cannot be directly associated with a facility or an operating company, continue to be allocated as before. For the 1st quarter of 2003, such Fuel Oil Program period costs were allocated 9.77% to ENTERGY ARKANSAS, INC., 50.43% to ENTERGY LOUISIANA, INC., 28.12% to ENTERGY MISSISSIPPI, INC., and 11.68% to ENTERGY NEW ORLEANS, INC.
c) As previously reported, the System's fuels planning and procurement administration was reorganized during 1988, redefining the fuels management roles and placing the responsibility for most fuel procurement decisions with Entergy Corporation System Executives.
SFI, utilizing Entergy Services personnel, continues to be responsible for gas and oil production shut down, financing nuclear fuel inventory and fuel oil inventory and facilities, and accounting functions related to these continuing activities.
IN WITNESS WHEREOF, SFI has caused this certificate to be executed as of the 30th of April 2003.
ENTERGY ARKANSAS, INC.
ENTERGY LOUISIANA, INC.
ENTERGY MISSISSIPPI, INC.
ENTERGY NEW ORLEANS, INC.
SYSTEM ENERGY RESOURCES, INC.
BY:/s/ Nathan E. Langston
Nathan E. Langston
Vice President and
Chief Accounting Officer
SYSTEM FUELS, INC.
BY:/s/ Steven C. McNeal
Steven C. McNeal
Vice President
and Treasurer