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): October 9, 2003



                   CE Casecnan Water and Energy Company, Inc.

             (Exact name of registrant as specified in its charter)




     Philippines                     1-12995                  Not Applicable
 ------------------------------------------------------------------------------
 (State or other jurisdiction     (Commission                 (IRS Employer
     of incorporation)            File Number)              Identification No.)




                24th Floor, 6750 Building, Ayala Avenue, Makati,
                     Metro Manila Philippines Not Applicable
               (Address of principal executive offices) (Zip Code)


       Registrant's telephone number, including area code: (632) 892-0276


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




<PAGE>



ITEM 5.  OTHER EVENTS.


     CE Casecnan Water and Energy Company,  Inc. ("CE Casecnan")  reported today
that it and the  Philippines  National  Irrigation  Administration  ("NIA") have
executed an agreement settling the International Chamber of Commerce arbitration
case  initiated  by CE Casecnan  in August  2002 to enforce a  provision  in the
Amended and Restated Project Agreement ("Project Agreement") between CE Casecnan
and the NIA. In  addition to  providing  for certain  amendments  to the Project
Agreement, the settlement, if it becomes effective, will result in the dismissal
with  prejudice  of all claims by CE Casecnan  and  counterclaims  by NIA in the
arbitration.  The  settlement  agreement  will  terminate on October 15, 2003 if
certain  closing  conditions  are  not  satisfied.   CE  Casecnan  believes  the
settlement  could not  reasonably be expected to have a Material  Adverse Effect
(as  defined  in the CE  Casecnan  Trust  Indenture  ("Indenture")  dated  as of
November 27,  1995) and the  Independent  Engineer  has  provided a  certificate
addressed  to the  trustee  under the  Indenture  to similar  effect.


ITEM 7.  FINANCIAL STATEMENTS AND EXHIBITS.

None


<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 thereunto duly authorized.


                                      CE Casecnan Water and Energy Company, Inc.



Date:  October 9, 2003                By:    /s/  Paul J. Leighton
                                      ----------------------------------------
                                                  Paul J. Leighton
                                                  Assistant Secretary
[{"type": "8-K", "sequence": "1", "filename": "cecase8k10903.txt", "description": "CE CASECNAN WATER & ENERGY 10/9/03", "secsgml_size_bytes": 3031}]
{"company-data": {"conformed-name": "CE CASECNAN WATER & ENERGY CO INC", "cik": "0001006402", "assigned-sic": "4911", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-12995", "film-number": "03935346"}, "business-address": {"street1": "24TH FLOOR", "street2": "6750 BUILDING, AYALA AVENUE", "city": "MAKATI, METRO MANILA", "state": "R6", "zip": "68107", "phone": "632-892-0276"}, "mail-address": {"street1": "MIDAMERICAN ENERGY HOLDINGS CO.", "street2": "666  GRAND AVENUE, PO BOX 657", "city": "DES MOINES", "state": "IA", "zip": "50303-0657"}}
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): October 9, 2003

                   CE Casecnan Water and Energy Company, Inc.

             (Exact name of registrant as specified in its charter)

     Philippines                     1-12995                  Not Applicable
 ------------------------------------------------------------------------------
 (State or other jurisdiction     (Commission                 (IRS Employer
     of incorporation)            File Number)              Identification No.)

                24th Floor, 6750 Building, Ayala Avenue, Makati,
                     Metro Manila Philippines Not Applicable
               (Address of principal executive offices) (Zip Code)

       Registrant's telephone number, including area code: (632) 892-0276

                                       N/A
                   (Former name or former address, if changed
                               since last report.)
ITEM 5.  OTHER EVENTS.

     CE Casecnan Water and Energy Company,  Inc. ("CE Casecnan")  reported today
that it and the  Philippines  National  Irrigation  Administration  ("NIA") have
executed an agreement settling the International Chamber of Commerce arbitration
case  initiated  by CE Casecnan  in August  2002 to enforce a  provision  in the
Amended and Restated Project Agreement ("Project Agreement") between CE Casecnan
and the NIA. In  addition to  providing  for certain  amendments  to the Project
Agreement, the settlement, if it becomes effective, will result in the dismissal
with  prejudice  of all claims by CE Casecnan  and  counterclaims  by NIA in the
arbitration.  The  settlement  agreement  will  terminate on October 15, 2003 if
certain  closing  conditions  are  not  satisfied.   CE  Casecnan  believes  the
settlement  could not  reasonably be expected to have a Material  Adverse Effect
(as  defined  in the CE  Casecnan  Trust  Indenture  ("Indenture")  dated  as of
November 27,  1995) and the  Independent  Engineer  has  provided a  certificate
addressed  to the  trustee  under the  Indenture  to similar  effect.

ITEM 7.  FINANCIAL STATEMENTS AND EXHIBITS.

None
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 thereunto duly authorized.

                                      CE Casecnan Water and Energy Company, Inc.

Date:  October 9, 2003                By:    /s/  Paul J. Leighton
                                      ----------------------------------------
                                                  Paul J. Leighton
                                                  Assistant Secretary