seventh_70-9959
UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
| NATIONAL FUEL GAS COMPANY | SEVENTH |
| HORIZON ENERGY DEVELOPMENT, INC. | CERTIFICATE |
| HORIZON ENERGY HOLDINGS, INC. | PURSUANT TO |
| and its subsidiaries | RULE 24 |
File No. 70-9959
(Public Utility Holding Company Act of 1935)
THIS
IS TO CERTIFY, pursuant to Rule 24, that certain transactions proposed by
National Fuel Gas Company (“National”), its subsidiary, Horizon Energy
Development, Inc. (“Horizon”), Horizon’s subsidiary, Horizon
Energy Holdings, Inc. (“Holdings”), and Holding’s subsidiaries
(“Intermediate Subsidiaries”), in their Application-Declaration on
Form U-1, as amended (File No. 70-9959), have been carried out in accordance
with the terms and conditions of said Application-Declaration and the Order
(HCAR No. 35-27487, dated December 31, 2001) of the Securities and Exchange
Commission (the “Commission”) with respect thereto, and that the
following information for the quarter ended September 30, 2003 is herein provided:
| 1) |
A general description of the Development Activities of Horizon or any
Intermediate Subsidiary during the quarter and of any exempt wholesale generator
or foreign utility company in which National has acquired, directly or
indirectly, an ownership interest during the quarter: |
| |
Horizon and Intermediate Subsidiaries engaged, directly or indirectly, in one or more of
the following Development Activities during the quarter: due diligence and
design review; market studies; preliminary engineering; site inspection;
preparation of bid proposals, including posting of bid bonds; application for
required permits and/or regulatory approvals; acquisition of site options and
options on other necessary rights; negotiation and execution of contractual
commitments with owners of existing facilities, equipment vendors, construction
firms, power purchasers, thermal “hosts,” fuel suppliers and other
project contractors; discussion of financing opportunities with lenders and
other third-party investors; and such other preliminary activities as may be
required. |
| |
In connection with its Development Activities, Horizon, through Intermediate Subsidiaries, has acquired ownership interests in Sofia
Energy EAD and Montenero Energia s.r.l. Each of these entities is pursuing a power generation project - Sofia Energy EAD in and
around the city of Sofia, Bulgaria, and Montenero Energia s.r.l in the Molise region of Italy near the town of Montenero di Bisaccia. |
| 2) |
Information on Project Services (administrative, operating, technical and management services) performed
during the quarter: |
| Company Providing Service | Company Receiving Service | Type of Service | Total Charges* | At Cost or Fair Market Value |
| Horizon | Horizon Energy Development, s.r.o. | Technical and management services | $29,167 1 | Fair market value |
| Horizon Energy Development, s.r.o. | Horizon | Administrative services | $19,755 1 | Fair market value |
| Horizon Energy Development, s.r.o. | United Energy, a.s. | Administrative and operating services | $207,241 | Fair market value |
| United Energy, a.s. | Teplarna Liberec, a.s. | Administrative and management services | $107,205 | Fair market value |
* Amounts are shown in US$. Original billings may be calculated in Czech Korunas.
For the quarter ended September 30, 2003, the average spot exchange rate was CZK28.59/US$1.
1 Represents amounts accrued during quarter.
Under terms of agreements, billings are submitted on an annual basis at the end of the
year.
| 3) |
Information regarding new Intermediate Subsidiaries: |
| |
| |
No new Intermediate Subsidiaries were established or acquired during the quarter. |
| 4) |
Amount of any Guarantee issued by Horizon or any Intermediate Subsidiary that is
not exempt under Rule 45(b) or Rule 52: |
| |
| |
Neither Horizon nor any Intermediate Subsidiary issued any such Guarantee during the
quarter. |
| 5) |
Horizon financial statements:
|
| |
| |
Horizon's balance sheet at September 30, 2003 is attached as Exhibit 1,
and Horizon's income statement for the
quarter ended September 30, 2003 is attached as Exhibit 2. |
IN
WITNESS WHEREOF, the undersigned companies have caused this Certificate to be
executed as of this 25th day of November, 2003.
| | NATIONAL FUEL GAS COMPANY |
| |
| | By: /s/ R. J. Tanski |
| | R. J. Tanski |
| | Controller |
| | HORIZON ENERGY DEVELOPMENT, INC. |
| |
| | By: /s/ R. J. Tanski |
| | R. J. Tanski |
| | Secretary and Treasurer |
| | HORIZON ENERGY HOLDINGS, INC. |
| |
| | By: /s/ R. J. Tanski |
| | R. J. Tanski |
| | Secretary and Treasurer |