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 15, 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 15, 1998, the Registrant announced that it
  intends to refinance its 10 1/4 percent Senior Discount Notes due 2004 using
  a portion of the net proceeds of an offering of new senior debt
  securities or other available funds.
  
       Also on September 15, 1998, the Registrant and MidAmerican
  Energy Holdings Company announced that various regulatory
  applications for their planned merger had been filed with the
  Federal Energy Regulatory Commission, the Nuclear Regulatory
  Commission, the Department of Justice and the Federal Trade
  Commission.  A filing is expected to be made with the Iowa
  Utilities Board next week.
  
       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 15, 1998
  Exhibit 2 - Joint Press Release dated September 15, 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 15, 1998
  
  <PAGE>
  Exhibit 1
  
  FOR IMMEDIATE RELEASE
  
  Craig M. Hammett - Senior Vice President, Chief Financial Officer 402-341-4500
  Craig S. Allen - Manager, Investor Relations                      402-341-4500
  Patti J. McAtee - Director, Corporate Communications              402-341-4500
  Kate Inverarity - Brunswick                                       212-333-3810
  
      CalEnergy Announces Plan to Refinance Senior Discount Notes
  
       OMAHA, NEBRASKA, September 15, 1998 -- CalEnergy Company, Inc.
  ("CalEnergy"  or the "Company") (NYSE:  CE; PCX and LSE)  announced
  that it intends to refinance its 10 1/4% Senior Discount Notes  due
  2004  using  a  portion of the net proceeds of an offering  of  new
  senior debt securities or other available funds.
  
       CalEnergy reserves the right in the interim to repurchase  the
  Senior  Discount  Notes from time to time in the  open  market,  in
  privately  negotiated transactions or otherwise subject  to  market
  conditions.   CalEnergy currently intends to redeem  the  remaining
  Senior Discount Notes on or about January 15, 1999, when they first
  become callable.
  
        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.
  
        This release shall not constitute an offer to buy or sell  or
  the  solicitation of an offer to sell or buy nor shall there be any
  purchase  or  sale of these securities in any state in  which  such
  offer,  solicitation,  purchase or sale would be unlawful prior  to
  registration or qualification under the securities law of any  such
  state.
  
       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.
       
                           www.calenergy.com
                                   
                                 # # #
  <PAGE>
  Exhibit 2
  
  For Immediate Release
  
          CalEnergy and MidAmerican File for Merger Approvals
  
  OMAHA, NEBRASKA and DES MOINES, IOWA, September 15, 1998 ---
  CalEnergy Company, Inc. (NYSE: CE) and MidAmerican Energy Holdings
  Company (NYSE: MEC) today announced that various regulatory
  applications for their planned merger had been filed with the
  Federal Energy Regulatory Commission, the Nuclear Regulatory
  Commission, the Department of Justice and the Federal Trade
  Commission.  It is expected that a filing will be made with the
  Iowa Utilities Board next week.  The merger agreement is also
  subject to approval by the shareholders of both companies (for
  which special meetings will be called later this year) and
  completion of the merger is expected to occur by the first quarter
  of 1999.
  
  The proposed transaction combines MidAmerican, a leading regional
  provider of low-cost energy and related services that serves
  approximately 1.3 million electric and gas customers in Iowa and
  three neighboring states, with CalEnergy, a global energy company
  that manages and owns independent power generation facilities and
  other energy assets in the United States, Asia and Europe and
  supplies and distributes electricity and gas to approximately 2.0
  million customers in the United Kingdom.
  
  CalEnergy and MidAmerican formally announced plans to merge last
  month.  Highlights of the agreement include:
  
  O    CalEnergy is paying $27.15 in cash for each MidAmerican common
    share outstanding, in a transaction in which approximately $1.6
    billion of outstanding debt and preferred stock of MidAmerican
    Energy Company will remain outstanding.
  
  O    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.
  
  
                                -more-
  
  
  <PAGE>
  
  CalEnergy and MidAmerican
  September 15, 1998
  Page -2-
  
  O    CalEnergy will reincorporate in the State of Iowa and be
    renamed MidAmerican Energy Holdings Company.  The company's
    corporate headquarters will be located in Des Moines, Iowa, with
    the office of the Chairman remaining in Omaha, Nebraska.
  
  
  O    David Sokol, the current Chairman and Chief Executive Officer
    of CalEnergy, will continue in this role in the combined
    enterprise.  Stanley Bright, the current Chairman, President and
    Chief Executive Officer of MidAmerican, will become Vice Chairman
    of the Board and a member of its Executive Committee.  Greg Abel,
    President and Chief Operating Officer, will head the parent company
    from its Des Moines corporate headquarters.
  
  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.
  
  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.
  
  Press Contacts:
  
  MidAmerican Energy Holdings Company
   Keith Hartje, Vice President, Corporate Communications (515)281-2575
   Ron Giaier, Vice President and Treasurer               (515)242-4303
  
  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
                                   
                                 # # #
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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": "98709522"}, "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 15, 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 15, 1998, the Registrant announced that it
  intends to refinance its 10 1/4 percent Senior Discount Notes due 2004 using
  a portion of the net proceeds of an offering of new senior debt
  securities or other available funds.
  
       Also on September 15, 1998, the Registrant and MidAmerican
  Energy Holdings Company announced that various regulatory
  applications for their planned merger had been filed with the
  Federal Energy Regulatory Commission, the Nuclear Regulatory
  Commission, the Department of Justice and the Federal Trade
  Commission.  A filing is expected to be made with the Iowa
  Utilities Board next week.
  
       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 15, 1998
  Exhibit 2 - Joint Press Release dated September 15, 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 15, 1998
  Exhibit 1
  
  FOR IMMEDIATE RELEASE
  
  Craig M. Hammett - Senior Vice President, Chief Financial Officer 402-341-4500
  Craig S. Allen - Manager, Investor Relations                      402-341-4500
  Patti J. McAtee - Director, Corporate Communications              402-341-4500
  Kate Inverarity - Brunswick                                       212-333-3810
  
      CalEnergy Announces Plan to Refinance Senior Discount Notes
  
       OMAHA, NEBRASKA, September 15, 1998 -- CalEnergy Company, Inc.
  ("CalEnergy"  or the "Company") (NYSE:  CE; PCX and LSE)  announced
  that it intends to refinance its 10 1/4% Senior Discount Notes  due
  2004  using  a  portion of the net proceeds of an offering  of  new
  senior debt securities or other available funds.
  
       CalEnergy reserves the right in the interim to repurchase  the
  Senior  Discount  Notes from time to time in the  open  market,  in
  privately  negotiated transactions or otherwise subject  to  market
  conditions.   CalEnergy currently intends to redeem  the  remaining
  Senior Discount Notes on or about January 15, 1999, when they first
  become callable.
  
        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.
  
        This release shall not constitute an offer to buy or sell  or
  the  solicitation of an offer to sell or buy nor shall there be any
  purchase  or  sale of these securities in any state in  which  such
  offer,  solicitation,  purchase or sale would be unlawful prior  to
  registration or qualification under the securities law of any  such
  state.
  
       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.
       
                           www.calenergy.com
                                   
                                 # # #
  Exhibit 2
  
  For Immediate Release
  
          CalEnergy and MidAmerican File for Merger Approvals
  
  OMAHA, NEBRASKA and DES MOINES, IOWA, September 15, 1998 ---
  CalEnergy Company, Inc. (NYSE: CE) and MidAmerican Energy Holdings
  Company (NYSE: MEC) today announced that various regulatory
  applications for their planned merger had been filed with the
  Federal Energy Regulatory Commission, the Nuclear Regulatory
  Commission, the Department of Justice and the Federal Trade
  Commission.  It is expected that a filing will be made with the
  Iowa Utilities Board next week.  The merger agreement is also
  subject to approval by the shareholders of both companies (for
  which special meetings will be called later this year) and
  completion of the merger is expected to occur by the first quarter
  of 1999.
  
  The proposed transaction combines MidAmerican, a leading regional
  provider of low-cost energy and related services that serves
  approximately 1.3 million electric and gas customers in Iowa and
  three neighboring states, with CalEnergy, a global energy company
  that manages and owns independent power generation facilities and
  other energy assets in the United States, Asia and Europe and
  supplies and distributes electricity and gas to approximately 2.0
  million customers in the United Kingdom.
  
  CalEnergy and MidAmerican formally announced plans to merge last
  month.  Highlights of the agreement include:
  
  O    CalEnergy is paying $27.15 in cash for each MidAmerican common
    share outstanding, in a transaction in which approximately $1.6
    billion of outstanding debt and preferred stock of MidAmerican
    Energy Company will remain outstanding.
  
  O    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.
  
                                -more-
  CalEnergy and MidAmerican
  September 15, 1998
  Page -2-
  
  O    CalEnergy will reincorporate in the State of Iowa and be
    renamed MidAmerican Energy Holdings Company.  The company's
    corporate headquarters will be located in Des Moines, Iowa, with
    the office of the Chairman remaining in Omaha, Nebraska.
  
  O    David Sokol, the current Chairman and Chief Executive Officer
    of CalEnergy, will continue in this role in the combined
    enterprise.  Stanley Bright, the current Chairman, President and
    Chief Executive Officer of MidAmerican, will become Vice Chairman
    of the Board and a member of its Executive Committee.  Greg Abel,
    President and Chief Operating Officer, will head the parent company
    from its Des Moines corporate headquarters.
  
  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.
  
  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.
  
  Press Contacts:
  
  MidAmerican Energy Holdings Company
   Keith Hartje, Vice President, Corporate Communications (515)281-2575
   Ron Giaier, Vice President and Treasurer               (515)242-4303
  
  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
                                   
                                 # # #