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Safe Current

Company Summary

Safe Current is an unregulated subsidiary of The Cleveland Illuminating Company that sells direct to businesses and consumers. It will be operated as a stand alone business leveraging the existing resources and goodwill of TCIC.

Safe Current will be located on site at TCIC, using an office within the complex and also sharing TCIC’s computer network connection and phone connections. Safe Current will operate their own customer service call department. Safe Current will use TCIC’s existing call center for sales calls and TCIC’s existing billing system as well as their order fulfillment and shipping departments. Safe Current will pay a flat rate (10%) for these services.

The Cleveland Illuminating Company has chosen to create Safe Current as a means of increasing the rate of return to shareholders outside the government regulated rates available to electric utilities.

2.1 Company Ownership

Safe Current is a wholly owned subsidiary of TCIC.

2.2 Start-up Summary

Safe Current will leverage the existing resources of TCIC and pay a set overhead fee for the resources used. Equipment that will be needed as follows:

  • Five computer stations, one laser printer; Microsoft Office, Access, and proprietary software used by TCIC; network connection to TCIC.
  • Five office furniture setups.
  • A five extension phone system.
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Start-up Funding
Start-up Expenses to Fund $15,600
Start-up Assets to Fund $39,400
Total Funding Required $55,000
Non-cash Assets from Start-up $17,500
Cash Requirements from Start-up $21,900
Additional Cash Raised $0
Cash Balance on Starting Date $21,900
Total Assets $39,400
Liabilities and Capital
Current Borrowing $0
Long-term Liabilities $50,000
Accounts Payable (Outstanding Bills) $0
Other Current Liabilities (interest-free) $0
Total Liabilities $50,000
Planned Investment
TCIC $5,000
Other $0
Additional Investment Requirement $0
Total Planned Investment $5,000
Loss at Start-up (Start-up Expenses) ($15,600)
Total Capital ($10,600)
Total Capital and Liabilities $39,400
Total Funding $55,000
Start-up Expenses
Stationery etc. $100
Brochures $2,000
Website development $5,000
Furniture $1,500
Expensed Equipment $7,000
Total Start-up Expenses $15,600
Start-up Assets
Cash Required $21,900
Start-up Inventory $0
Other Current Assets $3,000
Long-term Assets $14,500
Total Assets $39,400
Total Requirements $55,000