content: Securities and Exchange Commission
                                   
                         Washington, DC  20549
                                   
                               Form 8-K
                                   
                            Current Report
                                   
                Pursuant to Section 13 or 15(d) of the
                     Securities Exchange Act 1934
                                   
                                   
                   Date of Report September 22, 1998
                   (Date of earliest event reported)
                                   
                                   
                                   
                        CalEnergy Company, Inc.
        (Exact name of registrant as specified in its charter)
                                   
  
  
      Delaware                  1-9874                     94-2213782
  (State of other          (Commission File              (IRS Employer
   jurisdiction of              Number)                Identification No.)
   incorporation)
  
  
  
   302 South 36th Street, Suite 400, Omaha, NE         68131 
      (Address of principal executive offices)        Zip Code
  
  
  
  
  Registrant's Telephone Number, including area code:    (402) 341-4500
  
  
  
  
                                N/A
   (Former name or former address, if changed since last report)
  <PAGE>
  Item 5.  Other Events
  
       On September 22, 1998, the Registrant announced that it closed
  the  sale of $1.4 billion aggregate principal amount of its  Senior
  Notes and Bonds.
  
        Also  on  September 22, 1998, the Registrant and  MidAmerican
  Energy   Holdings  Company  announced  that  they  have  filed   an
  Application for Review of Proposal for Reorganization with the Iowa
  Utilities Board (IUB) in conjunction with their proposed merger.
  
        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 to differ materially  from  any
  expected  future results or performance, expressed or  implied,  by
  the forward-looking statements.  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
  uncertainty,   operating   uncertainty,  acquisition   uncertainty,
  uncertainties  relating to doing business  outside  of  the  United
  States,    uncertainties   relating   to   geothermal    resources,
  uncertainties  relating  to  domestic  and  international  (and  in
  particular,  Indonesian)  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, including
  the   Registrant's  Report  on  Form  8-K  dated  March  6,   1998,
  incorporated  herein  by  reference,  for  a  description  of  such
  factors.   The Company assumes no responsibility to update forward-
  looking information contained herein.
  
  
  Item 7.  Financial Statements and Exhibits
  
  Exhibit 1 - Press Release dated September 22, 1998
  Exhibit 2 - Joint Press Release dated September 22, 1998
  
  
  <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.
  
                                     CalEnergy Company, Inc.
  
  
  
  
                                      By: \s\ Douglas L. Anderson
                                          Douglas L. Anderson
                                          Assistant Secretary and
                                          Assistant General Counsel
  
  
  
  
  Dated: September 22, 1998
  
  <PAGE>
  FOR IMMEDIATE RELEASE                                         EXHIBIT 1
  
  Craig M. Hammett - Senior Vice President, Chief Financial Officer 402-341-4500
  Craig Allen - Manager, Investor Relations                         402-341-4500
  Patti J. McAtee-Director, Corporate Communications                402-341-4500
  Kate Inverarity - Brunswick                                       212-333-3810
  
   CalEnergy Announces Closing of $1.4 Billion Senior Note and Bond Offering
                                   
        OMAHA,  NE,  September  22, 1998:   CalEnergy  Company,  Inc.
  ("CalEnergy"  or the "Company") (NYSE:  CE; PCX and LSE)  announced
  today  that it closed the sale of $1.4 billion aggregate  principal
  amount  of its Senior Notes and Bonds having the following interest
  rates, principal amounts and maturities:  $215 million of its 6.96%
  Senior  Notes due 2003, $260 million of its 7.23% Senior Notes  due
  2005,  $450  million of its 7.52% Senior Notes due  2008  and  $475
  million  of its 8.48% Senior Bonds due 2028.  The Senior Notes  and
  Bonds  are subject to optional redemption at any time at  par  plus
  payment  of a make-whole premium.  The Senior Notes and Bonds  were
  rated  BB+,  Ba1 and BB+ by Standard & Poor's, Moody's and  Duff  &
  Phelps,  respectively, and CalEnergy's long term  senior  debt  has
  been  placed  on  credit  watch with positive  implications  for  a
  possible  upgrade by all three rating agencies following completion
  of the pending MidAmerican Energy merger.
  
        Approximately $830 million in net proceeds of the Senior Note
  and  Bond Offering, together with approximately $600 million in net
  proceeds  from  an  expected equity offering later  this  year  and
  approximately  $740 million in net proceeds from an  expected  non-
  recourse financing later this year, are expected to be used to fund
  the  pending MidAmerican Energy merger.  Approximately $543 million
  of  the  net  proceeds  of the Senior Note  and  Bond  Offering  is
  expected to be used to refinance the Company's outstanding 10  1/4%
  Senior Discount Notes, which become callable on January 15, 1999.
  
        Craig  Hammett,  Senior Vice President  and  Chief  Financial
  Officer,  stated "The closing of this financing on these  favorable
  terms  will  facilitate the pending consummation of the MidAmerican
  merger.   Today's  financing  will  also  permit  the  Company   to
  refinance   certain   of   CalEnergy's  outstanding   debt   at   a
  significantly lower interest rate."
  
        Credit Suisse First Boston Corporation, Lehman Brothers  Inc.
  and  Goldman, Sachs & Co. served as managers of the Senior Note and
  Bond Offering.
  
        CalEnergy  is a global energy company that manages  and  owns
  interests   in  over  5,000  net  megawatts  of  power   generation
  facilities  in  operation, construction and development  worldwide.
  The  Company  develops  and produces energy from  diversified  fuel
  sources   including  geothermal,  natural  gas  and  hydroelectric.
  Through  its  subsidiary Northern Electric, CalEnergy supplies  and
  distributes  electricity and gas to 2.0 million  customers  in  the
  United Kingdom.  CalEnergy conducts business in the U.S., U.K., the
  Philippines, Indonesia, Poland and Australia, and employs more than
  4,200  people  worldwide.  For the year ended  December  31,  1997,
  CalEnergy generated revenues of over $2.2 billion and had assets of
  approximately $7.5 billion.
  
        This  press release contains forward-looking statements which
  are  based  on  current  expectations  and  involve  a  number   of
  uncertainties.   Reference  is made to all  of  the  Company's  SEC
  filings, including the Company's Report on Form 8-K dated March  6,
  1998,  incorporated herein by reference, for a description of  such
  uncertainties.
                           www.calenergy.com
                                 # # #
  <PAGE>
                               EXHIBIT 2
  
  
  For Immediate Release
  
        CalEnergy and MidAmerican File for IUB Merger Approval
  
  OMAHA,  NEBRASKA  and  DES MOINES, IOWA,  September  22,  1998  ---
  CalEnergy Company, Inc. (NYSE: CE) and MidAmerican Energy  Holdings
  Company  (NYSE:  MEC)  today announced  that  they  have  filed  an
  Application for Review of Proposal for Reorganization with the Iowa
  Utilities  Board  (IUB) in conjunction with their proposed  merger.
  The   merger  agreement  is  also  subject  to  approval   by   the
  shareholders of both companies, for which special meetings will  be
  called  later this year.  Completion of the merger is  expected  to
  occur by the end of the first quarter of 1999.
  
  The  Application  with the IUB is the last major regulatory  filing
  that the companies expect to make.  To date, filings have been made
  with  Federal Energy Regulatory Commission, the Nuclear  Regulatory
  Commission,  the  Department  of  Justice  and  the  Federal  Trade
  Commission.  These filings, along with CalEnergy's closing of  $1.4
  billion  in  debt  securities today, are  continued  steps  to  the
  completion of the merger of the companies.
  
  CalEnergy  and MidAmerican formally announced plans to  merge  last
  month.    The  combined  enterprise  will  have  total  assets   of
  approximately $13 billion, total annual revenues of more than  $4.2
  billion   and  will  serve  over  3.3  million  retail   customers.
  CalEnergy  expects the transaction to be accretive to its  earnings
  in the first full year of combined operations.
  
  CalEnergy  is  a  global  energy  company  that  manages  and  owns
  interests   in  over  5,000  net  megawatts  of  power   generation
  facilities  in  operation, construction and development  worldwide.
  Through  its  U.K. subsidiary, CalEnergy supplies  and  distributes
  electricity and gas to approximately 2.0 million customers  in  the
  United  Kingdom.   CalEnergy  produces  and  develops  energy  from
  diversified  fuel  sources including geothermal,  natural  gas  and
  hydroelectric.  CalEnergy conducts business in the U.S., U.K.,  the
  Philippines, Indonesia, Poland and Australia, and employs more than
  4,200  people  worldwide.   In the year ended  December  31,  1997,
  CalEnergy generated revenues of over $2.2 billion and had assets of
  approximately $7.5 billion.  CalEnergy's headquarters are based  in
  Omaha,  Nebraska.  Information about CalEnergy is available on  the
  Internet at http://www.calenergy.com.
  
  
                                -more-
  <PAGE>
  CalEnergy and MidAmerican
  September 22, 1998
  Page -2-
  
  
  
  MidAmerican,  Iowa's  largest  energy  company,  provides  electric
  service  to  648,000 customers and natural gas service  to  619,000
  customers  in  Iowa, Illinois, Nebraska and South Dakota.   Company
  headquarters  are in Des Moines, Iowa.  In the year ended  December
  31,  1997, MidAmerican generated revenues of over $1.9 billion  and
  had  assets  of  approximately  $4.3  billion.   Information  about
  MidAmerican     is     available     on     the     Internet     at
  http://www.midamerican.com.
  
  This  press release contains forward-looking statements  which  are
  based   on   current   expectations  and  involve   a   number   of
  uncertainties.   Reference  is made to all  of  the  Company's  SEC
  filings, including the Company's Report on Form 8-K dated March  6,
  1998,  incorporated herein by reference, for a description of  such
  uncertainties.
  
  Press Contacts:
  MidAmerican Energy Holdings Company
   Kevin Waetke, Manager, Media Relations            (515) 281-2785
  CalEnergy Company, Inc.
   Patti McAtee, Director, Corporate Communications  (402) 231-1519
   Craig Allen, Manager, Investor Relations          (402) 231-1673
   Kate Inverarity, Brunswick                        (212) 333-3810
                                   
                                   
                                 # # #
  
  <PAGE>
metadata_documents: [{"type": "8-K", "sequence": "1", "secsgml_size_bytes": 11824}]
metadata_filer: {"company-data": {"conformed-name": "CALENERGY CO INC", "cik": "0000720556", "assigned-sic": "4991", "irs-number": "942213782", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-09874", "film-number": "98713082"}, "business-address": {"street1": "302 S 36TH ST", "street2": "STE 400", "city": "OMAHA", "state": "NE", "zip": "68131", "phone": "4023414500"}, "mail-address": {"street1": "302 SOUTH 36TH STREET", "street2": "SUITE 400-A", "city": "OMAHA", "state": "NE", "zip": "68131"}, "former-company": {"former-conformed-name": "CALIFORNIA ENERGY CO INC", "date-changed": "19920703"}}
text: Securities and Exchange Commission
                                   
                         Washington, DC  20549
                                   
                               Form 8-K
                                   
                            Current Report
                                   
                Pursuant to Section 13 or 15(d) of the
                     Securities Exchange Act 1934
                                   
                                   
                   Date of Report September 22, 1998
                   (Date of earliest event reported)
                                   
                                   
                                   
                        CalEnergy Company, Inc.
        (Exact name of registrant as specified in its charter)
                                   
  
      Delaware                  1-9874                     94-2213782
  (State of other          (Commission File              (IRS Employer
   jurisdiction of              Number)                Identification No.)
   incorporation)
  
   302 South 36th Street, Suite 400, Omaha, NE         68131 
      (Address of principal executive offices)        Zip Code
  
  Registrant's Telephone Number, including area code:    (402) 341-4500
  
                                N/A
   (Former name or former address, if changed since last report)
  Item 5.  Other Events
  
       On September 22, 1998, the Registrant announced that it closed
  the  sale of $1.4 billion aggregate principal amount of its  Senior
  Notes and Bonds.
  
        Also  on  September 22, 1998, the Registrant and  MidAmerican
  Energy   Holdings  Company  announced  that  they  have  filed   an
  Application for Review of Proposal for Reorganization with the Iowa
  Utilities Board (IUB) in conjunction with their proposed merger.
  
        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 to differ materially  from  any
  expected  future results or performance, expressed or  implied,  by
  the forward-looking statements.  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
  uncertainty,   operating   uncertainty,  acquisition   uncertainty,
  uncertainties  relating to doing business  outside  of  the  United
  States,    uncertainties   relating   to   geothermal    resources,
  uncertainties  relating  to  domestic  and  international  (and  in
  particular,  Indonesian)  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, including
  the   Registrant's  Report  on  Form  8-K  dated  March  6,   1998,
  incorporated  herein  by  reference,  for  a  description  of  such
  factors.   The Company assumes no responsibility to update forward-
  looking information contained herein.
  
  Item 7.  Financial Statements and Exhibits
  
  Exhibit 1 - Press Release dated September 22, 1998
  Exhibit 2 - Joint Press Release dated September 22, 1998
  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.
  
                                     CalEnergy Company, Inc.
  
                                      By: \s\ Douglas L. Anderson
                                          Douglas L. Anderson
                                          Assistant Secretary and
                                          Assistant General Counsel
  
  Dated: September 22, 1998
  FOR IMMEDIATE RELEASE                                         EXHIBIT 1
  
  Craig M. Hammett - Senior Vice President, Chief Financial Officer 402-341-4500
  Craig Allen - Manager, Investor Relations                         402-341-4500
  Patti J. McAtee-Director, Corporate Communications                402-341-4500
  Kate Inverarity - Brunswick                                       212-333-3810
  
   CalEnergy Announces Closing of $1.4 Billion Senior Note and Bond Offering
                                   
        OMAHA,  NE,  September  22, 1998:   CalEnergy  Company,  Inc.
  ("CalEnergy"  or the "Company") (NYSE:  CE; PCX and LSE)  announced
  today  that it closed the sale of $1.4 billion aggregate  principal
  amount  of its Senior Notes and Bonds having the following interest
  rates, principal amounts and maturities:  $215 million of its 6.96%
  Senior  Notes due 2003, $260 million of its 7.23% Senior Notes  due
  2005,  $450  million of its 7.52% Senior Notes due  2008  and  $475
  million  of its 8.48% Senior Bonds due 2028.  The Senior Notes  and
  Bonds  are subject to optional redemption at any time at  par  plus
  payment  of a make-whole premium.  The Senior Notes and Bonds  were
  rated  BB+,  Ba1 and BB+ by Standard & Poor's, Moody's and  Duff  &
  Phelps,  respectively, and CalEnergy's long term  senior  debt  has
  been  placed  on  credit  watch with positive  implications  for  a
  possible  upgrade by all three rating agencies following completion
  of the pending MidAmerican Energy merger.
  
        Approximately $830 million in net proceeds of the Senior Note
  and  Bond Offering, together with approximately $600 million in net
  proceeds  from  an  expected equity offering later  this  year  and
  approximately  $740 million in net proceeds from an  expected  non-
  recourse financing later this year, are expected to be used to fund
  the  pending MidAmerican Energy merger.  Approximately $543 million
  of  the  net  proceeds  of the Senior Note  and  Bond  Offering  is
  expected to be used to refinance the Company's outstanding 10  1/4%
  Senior Discount Notes, which become callable on January 15, 1999.
  
        Craig  Hammett,  Senior Vice President  and  Chief  Financial
  Officer,  stated "The closing of this financing on these  favorable
  terms  will  facilitate the pending consummation of the MidAmerican
  merger.   Today's  financing  will  also  permit  the  Company   to
  refinance   certain   of   CalEnergy's  outstanding   debt   at   a
  significantly lower interest rate."
  
        Credit Suisse First Boston Corporation, Lehman Brothers  Inc.
  and  Goldman, Sachs & Co. served as managers of the Senior Note and
  Bond Offering.
  
        CalEnergy  is a global energy company that manages  and  owns
  interests   in  over  5,000  net  megawatts  of  power   generation
  facilities  in  operation, construction and development  worldwide.
  The  Company  develops  and produces energy from  diversified  fuel
  sources   including  geothermal,  natural  gas  and  hydroelectric.
  Through  its  subsidiary Northern Electric, CalEnergy supplies  and
  distributes  electricity and gas to 2.0 million  customers  in  the
  United Kingdom.  CalEnergy conducts business in the U.S., U.K., the
  Philippines, Indonesia, Poland and Australia, and employs more than
  4,200  people  worldwide.  For the year ended  December  31,  1997,
  CalEnergy generated revenues of over $2.2 billion and had assets of
  approximately $7.5 billion.
  
        This  press release contains forward-looking statements which
  are  based  on  current  expectations  and  involve  a  number   of
  uncertainties.   Reference  is made to all  of  the  Company's  SEC
  filings, including the Company's Report on Form 8-K dated March  6,
  1998,  incorporated herein by reference, for a description of  such
  uncertainties.
                           www.calenergy.com
                                 # # #
  EXHIBIT 2
  
  For Immediate Release
  
        CalEnergy and MidAmerican File for IUB Merger Approval
  
  OMAHA,  NEBRASKA  and  DES MOINES, IOWA,  September  22,  1998  ---
  CalEnergy Company, Inc. (NYSE: CE) and MidAmerican Energy  Holdings
  Company  (NYSE:  MEC)  today announced  that  they  have  filed  an
  Application for Review of Proposal for Reorganization with the Iowa
  Utilities  Board  (IUB) in conjunction with their proposed  merger.
  The   merger  agreement  is  also  subject  to  approval   by   the
  shareholders of both companies, for which special meetings will  be
  called  later this year.  Completion of the merger is  expected  to
  occur by the end of the first quarter of 1999.
  
  The  Application  with the IUB is the last major regulatory  filing
  that the companies expect to make.  To date, filings have been made
  with  Federal Energy Regulatory Commission, the Nuclear  Regulatory
  Commission,  the  Department  of  Justice  and  the  Federal  Trade
  Commission.  These filings, along with CalEnergy's closing of  $1.4
  billion  in  debt  securities today, are  continued  steps  to  the
  completion of the merger of the companies.
  
  CalEnergy  and MidAmerican formally announced plans to  merge  last
  month.    The  combined  enterprise  will  have  total  assets   of
  approximately $13 billion, total annual revenues of more than  $4.2
  billion   and  will  serve  over  3.3  million  retail   customers.
  CalEnergy  expects the transaction to be accretive to its  earnings
  in the first full year of combined operations.
  
  CalEnergy  is  a  global  energy  company  that  manages  and  owns
  interests   in  over  5,000  net  megawatts  of  power   generation
  facilities  in  operation, construction and development  worldwide.
  Through  its  U.K. subsidiary, CalEnergy supplies  and  distributes
  electricity and gas to approximately 2.0 million customers  in  the
  United  Kingdom.   CalEnergy  produces  and  develops  energy  from
  diversified  fuel  sources including geothermal,  natural  gas  and
  hydroelectric.  CalEnergy conducts business in the U.S., U.K.,  the
  Philippines, Indonesia, Poland and Australia, and employs more than
  4,200  people  worldwide.   In the year ended  December  31,  1997,
  CalEnergy generated revenues of over $2.2 billion and had assets of
  approximately $7.5 billion.  CalEnergy's headquarters are based  in
  Omaha,  Nebraska.  Information about CalEnergy is available on  the
  Internet at http://www.calenergy.com.
  
                                -more-
  CalEnergy and MidAmerican
  September 22, 1998
  Page -2-
  
  MidAmerican,  Iowa's  largest  energy  company,  provides  electric
  service  to  648,000 customers and natural gas service  to  619,000
  customers  in  Iowa, Illinois, Nebraska and South Dakota.   Company
  headquarters  are in Des Moines, Iowa.  In the year ended  December
  31,  1997, MidAmerican generated revenues of over $1.9 billion  and
  had  assets  of  approximately  $4.3  billion.   Information  about
  MidAmerican     is     available     on     the     Internet     at
  http://www.midamerican.com.
  
  This  press release contains forward-looking statements  which  are
  based   on   current   expectations  and  involve   a   number   of
  uncertainties.   Reference  is made to all  of  the  Company's  SEC
  filings, including the Company's Report on Form 8-K dated March  6,
  1998,  incorporated herein by reference, for a description of  such
  uncertainties.
  
  Press Contacts:
  MidAmerican Energy Holdings Company
   Kevin Waetke, Manager, Media Relations            (515) 281-2785
  CalEnergy Company, Inc.
   Patti McAtee, Director, Corporate Communications  (402) 231-1519
   Craig Allen, Manager, Investor Relations          (402) 231-1673
   Kate Inverarity, Brunswick                        (212) 333-3810
                                   
                                   
                                 # # #