SECURITIES AND EXCHANGE COMMISSION

                              WASHINGTON D.C. 20549
                             ______________________

                                    FORM 8-K

                                 Current Report

     Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
        Date of Report (Date of earliest event reported) July 10, 2001

                   CE Casecnan Water and Energy Company, Inc.
             (Exact name of registrant as specified in its charter)

Republic of the Philippines            333-608             (not applicable)
(State or other jurisdiction         (Commission           (IRS Employer
 of incorporation)                   File Number)          Identification No.)

        6750 Ayala Avenue, 24th Floor, Makati, Metro Manila, Philippines
               (Address of principal executive offices) (Zip Code)

                            Douglas L. Anderson Esq.
                   CE Casecnan Water and Energy Company, Inc.
                     c/o MidAmerican Energy Holdings Company
                        302 South 36th Street, Suite 400
                                 Omaha, NE 68131
                                 (402) 341-4500
   (Name, address, including zip code, and phone number, including area code,
                       of United States agent for service)

       Registrant's Telephone Number, including area code: (402) 341-4500

                                      N/A
          (Former name or former address, if changed since last report)

<PAGE>

                            Privileged & Confidential


Item 5.     Other Events

     CE Casecnan Water and Energy Company,  Inc. ("CE Casecnan") reports that it
has received new schedule information from the turnkey  Construction  Contractor
for the Casecnan Project which extends the expected Substantial  Completion Date
for the  Casecnan  Project  from  August 31, 2001 to  September  30,  2001.  The
Casecnan  Project is a combined  irrigation and 150 net MW  hydroelectric  power
generation  project  located in the  central  part of the island of Luzon in the
Republic of the  Philippines.  CE Casecnan  further  announces that, on June 25,
2001, the arbitration  tribunal  hearing the previously  announced force majeure
disputes  between  the  Construction  Contractor  and  CE  Casecnan  temporarily
enjoined CE Casecnan from making calls on the demand guaranty posted by Banca di
Roma in support of the Construction  Contractor's obligations to CE Casecnan for
delay liquidated damages.  The arbitration panel has indicated that it presently
expects to issue a final order in respect of force majeure  disputes  before the
arbitration  tribunal,  as well as the  temporary  injunction,  by no later than
August 31, 2001.

     As previously  announced,  taking into account a Shareholder Support Letter
executed by the  ultimate  parent  company of CE Casecnan in February  2001 (the
"February  Support  Letter"),  and assuming payments are received under the bank
guaranty  supporting  the  Construction  Contractor's  obligation  to pay  delay
liquidated  damages prior to September  30, 2001, CE Casecnan  believes that the
funds available to it are reasonably expected to be sufficient to fund the costs
of reaching  completion of the Casecnan  Project.  However,  due to the delay in
completion of the project,  CE Casecnan  does not presently  expect that it will
receive  significant  operating  revenues  from the  Casecnan  Project  prior to
November 15, 2001. As a result, CE Casecnan  presently expects that it will have
insufficient  funds  available  to it for purposes of making the  principal  and
interest  payments  which will  become due on the debt  securities  issued by CE
Casecnan in November 1995 (the "Debt  Securities") on November 15, 2001,  unless
its  ultimate  parent  agrees to fund the  expected  short fall amount  which is
currently estimated to be approximately $24.6 million.

     CE Casecnan presently expects,  but cannot assure, that its ultimate parent
will provide it with funds in an amount sufficient to permit CE Casecnan to make
the full principal and interest  payments due on the Debt Securities on November
15, 2001. In this connection,  CE Casecnan has been advised that the willingness
of its ultimate parent to fund such November 15, 2001 shortfall will principally
depend upon the progress in the pending  arbitration  proceedings  involving the
Construction  Contractor,  including  any  orders  issued  in the  future by the
arbitration panel;  completion of the Casecnan Project in substantial compliance
with  the  revised  construction  schedule;  and  performance  by  the  National
Irrigation Administration of its obligations under the Project Agreement.  Under
these  same  assumptions,  CE  Casecnan  does  not  presently  expect  that  any
additional  funding will be required to be provided to it by its ultimate parent
in order for CE Casecnan to make future  principal and interest  payments on the
Debt Securities following the November 15, 2001 payments.

     Except to the limited extent expressly provided for in the February Support
Letter,  no shareholders,  partners or affiliates of CE Casecnan,  including its
ultimate parent, MidAmerican Energy Holdings Company, and no directors, officers
or employees of CE Casecnan  will  guarantee or be in any way liable for payment
of any of CE  Casecnan's  obligations.  As a result,  payment  of CE  Casecnan's

<PAGE>

obligations  will depend upon the  availability of sufficient  revenues from its
business after the payment of operating expenses.

     Certain  information  included  in  this  report  contains  forward-looking
statements made pursuant to the Private Securities Litigation Reform Act of 1995
("Reform Act"). Such statements are based on current  expectations and involve a
number of known and unknown risks and uncertainties  that could cause the actual
results and performance of the  Registrant,  CE Casecnan,  to differ  materially
from any expected  future results or performance,  expressed or implied,  by the
forward-looking statements,  including expectations regarding the future results
of operations of the Registrant.  In connection with the safe harbor  provisions
of the Reform Act, the Registrant has  identified  important  factors that could
cause actual  results to differ  materially  from such  expectations,  including
development and construction  uncertainty,  operating  uncertainty,  acquisition
uncertainty, litigation and arbitration uncertainties, uncertainties relating to
economic and  political  conditions  and  uncertainties  regarding the impact of
regulations,   changes  in  government   policy,   industry   deregulation   and
competition.  Reference  is  made  to  all  of  the  Registrant's  SEC  Filings,
incorporated  herein  by  reference,  for a  description  of such  factors.  The
Registrant  assumes  no  responsibility  to update  forward-looking  information
contained herein.

<PAGE>

                                    SIGNATURE

     Pursuant to the  requirements  of the Securities  Exchange Act of 1934, the
Registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned hereunto duly authorized.

                             CE Casecnan Water and Energy Company, Inc.



                             By:    /s/ Douglas L. Anderson
                                    Douglas L. Anderson
                                    Vice President

Dated:  July 10, 2001
[{"type": "8-K", "sequence": "1", "filename": "cas8-k.txt", "secsgml_size_bytes": 7549}]
{"company-data": {"conformed-name": "CE CASECNAN WATER & ENERGY CO INC", "cik": "0001006402", "assigned-sic": "4911", "irs-number": "000000000", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-12995", "film-number": "1678535"}, "business-address": {"street1": "6750 AYALA AVE PHILIPPINES", "street2": "24TH FLOOR", "city": "MAKATI METRO MANILA", "state": "R6", "zip": "68107", "phone": "4023414500"}, "mail-address": {"street1": "CALENERGY CO INC", "street2": "302 SOUTH 36TH ST STE 400", "city": "OMAHA", "state": "NE", "zip": "68107"}}
SECURITIES AND EXCHANGE COMMISSION

                              WASHINGTON D.C. 20549
                             ______________________

                                    FORM 8-K

                                 Current Report

     Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
        Date of Report (Date of earliest event reported) July 10, 2001

                   CE Casecnan Water and Energy Company, Inc.
             (Exact name of registrant as specified in its charter)

Republic of the Philippines            333-608             (not applicable)
(State or other jurisdiction         (Commission           (IRS Employer
 of incorporation)                   File Number)          Identification No.)

        6750 Ayala Avenue, 24th Floor, Makati, Metro Manila, Philippines
               (Address of principal executive offices) (Zip Code)

                            Douglas L. Anderson Esq.
                   CE Casecnan Water and Energy Company, Inc.
                     c/o MidAmerican Energy Holdings Company
                        302 South 36th Street, Suite 400
                                 Omaha, NE 68131
                                 (402) 341-4500
   (Name, address, including zip code, and phone number, including area code,
                       of United States agent for service)

       Registrant's Telephone Number, including area code: (402) 341-4500

                                      N/A
          (Former name or former address, if changed since last report)
Privileged & Confidential

Item 5.     Other Events

     CE Casecnan Water and Energy Company,  Inc. ("CE Casecnan") reports that it
has received new schedule information from the turnkey  Construction  Contractor
for the Casecnan Project which extends the expected Substantial  Completion Date
for the  Casecnan  Project  from  August 31, 2001 to  September  30,  2001.  The
Casecnan  Project is a combined  irrigation and 150 net MW  hydroelectric  power
generation  project  located in the  central  part of the island of Luzon in the
Republic of the  Philippines.  CE Casecnan  further  announces that, on June 25,
2001, the arbitration  tribunal  hearing the previously  announced force majeure
disputes  between  the  Construction  Contractor  and  CE  Casecnan  temporarily
enjoined CE Casecnan from making calls on the demand guaranty posted by Banca di
Roma in support of the Construction  Contractor's obligations to CE Casecnan for
delay liquidated damages.  The arbitration panel has indicated that it presently
expects to issue a final order in respect of force majeure  disputes  before the
arbitration  tribunal,  as well as the  temporary  injunction,  by no later than
August 31, 2001.

     As previously  announced,  taking into account a Shareholder Support Letter
executed by the  ultimate  parent  company of CE Casecnan in February  2001 (the
"February  Support  Letter"),  and assuming payments are received under the bank
guaranty  supporting  the  Construction  Contractor's  obligation  to pay  delay
liquidated  damages prior to September  30, 2001, CE Casecnan  believes that the
funds available to it are reasonably expected to be sufficient to fund the costs
of reaching  completion of the Casecnan  Project.  However,  due to the delay in
completion of the project,  CE Casecnan  does not presently  expect that it will
receive  significant  operating  revenues  from the  Casecnan  Project  prior to
November 15, 2001. As a result, CE Casecnan  presently expects that it will have
insufficient  funds  available  to it for purposes of making the  principal  and
interest  payments  which will  become due on the debt  securities  issued by CE
Casecnan in November 1995 (the "Debt  Securities") on November 15, 2001,  unless
its  ultimate  parent  agrees to fund the  expected  short fall amount  which is
currently estimated to be approximately $24.6 million.

     CE Casecnan presently expects,  but cannot assure, that its ultimate parent
will provide it with funds in an amount sufficient to permit CE Casecnan to make
the full principal and interest  payments due on the Debt Securities on November
15, 2001. In this connection,  CE Casecnan has been advised that the willingness
of its ultimate parent to fund such November 15, 2001 shortfall will principally
depend upon the progress in the pending  arbitration  proceedings  involving the
Construction  Contractor,  including  any  orders  issued  in the  future by the
arbitration panel;  completion of the Casecnan Project in substantial compliance
with  the  revised  construction  schedule;  and  performance  by  the  National
Irrigation Administration of its obligations under the Project Agreement.  Under
these  same  assumptions,  CE  Casecnan  does  not  presently  expect  that  any
additional  funding will be required to be provided to it by its ultimate parent
in order for CE Casecnan to make future  principal and interest  payments on the
Debt Securities following the November 15, 2001 payments.

     Except to the limited extent expressly provided for in the February Support
Letter,  no shareholders,  partners or affiliates of CE Casecnan,  including its
ultimate parent, MidAmerican Energy Holdings Company, and no directors, officers
or employees of CE Casecnan  will  guarantee or be in any way liable for payment
of any of CE  Casecnan's  obligations.  As a result,  payment  of CE  Casecnan's
obligations  will depend upon the  availability of sufficient  revenues from its
business after the payment of operating expenses.

     Certain  information  included  in  this  report  contains  forward-looking
statements made pursuant to the Private Securities Litigation Reform Act of 1995
("Reform Act"). Such statements are based on current  expectations and involve a
number of known and unknown risks and uncertainties  that could cause the actual
results and performance of the  Registrant,  CE Casecnan,  to differ  materially
from any expected  future results or performance,  expressed or implied,  by the
forward-looking statements,  including expectations regarding the future results
of operations of the Registrant.  In connection with the safe harbor  provisions
of the Reform Act, the Registrant has  identified  important  factors that could
cause actual  results to differ  materially  from such  expectations,  including
development and construction  uncertainty,  operating  uncertainty,  acquisition
uncertainty, litigation and arbitration uncertainties, uncertainties relating to
economic and  political  conditions  and  uncertainties  regarding the impact of
regulations,   changes  in  government   policy,   industry   deregulation   and
competition.  Reference  is  made  to  all  of  the  Registrant's  SEC  Filings,
incorporated  herein  by  reference,  for a  description  of such  factors.  The
Registrant  assumes  no  responsibility  to update  forward-looking  information
contained herein.
SIGNATURE

     Pursuant to the  requirements  of the Securities  Exchange Act of 1934, the
Registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned hereunto duly authorized.

                             CE Casecnan Water and Energy Company, Inc.

                             By:    /s/ Douglas L. Anderson
                                    Douglas L. Anderson
                                    Vice President

Dated:  July 10, 2001