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 December 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  December 15, 1998, the registrant announced that,  acting
  pursuant  to  authorization  of its  Board  of  Directors,  it  had
  irrevocably called for redemption on January 15, 1999  all  of  its
  outstanding 10 1/4% Senior Discount Notes due 2004.
  
        Pursuant  to  the  provisions of the Note  Indenture  between
  CalEnergy  and IBJ Schroder Bank & Trust Company, as  Trustee,  the
  Notes will be redeemed, in full, on January 15, 1999 at 105.125% of
  the  principal amount thereof plus accrued and unpaid  interest  of
  $51.25  per $1,000 principal amount of the Notes, resulting  in  an
  aggregate redemption price per $1,000 principal amount of the Notes
  of $1,102.50.
  
        Payment  of the Notes being redeemed will be made  only  upon
  presentation and surrender of the Notes by hand or by mail  to  the
  Trustee  as follows:  IBJ Schroder Bank & Trust Company, One  State
  Street,  Securities  Processing Window, SC-1, New  York,  New  York
  1004.   Any questions relating to this Notice of Redemption or  the
  loss  of  a  Note  should  be  directed  to  the  Customer  Service
  Department at IBJ Schroder Bank & Trust Company at (212)  858-2040.
  The Notes will no longer be deemed outstanding on and after January
  15, 1999, interest on the Notes will cease to accrue and all rights
  with respect to the Notes will cease, except only the right of  the
  holders thereof to receive the redemption price.
  
  Item 7.  Financial Statements and Exhibits
  
  Exhibit 1 - Press Release dated December 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/ Steven A. McArthur
                                          Steven A. McArthur
                                          Executive  Vice  President and
                                          General Counsel
  
  
  
  
                                             Dated: December 15, 1998
  <PAGE>
                                                            Exhibit 1
                                                                     
                                                                     
  
  
                                   
  
  
  FOR IMMEDIATE RELEASE
  
  Craig M. Hammett - Senior Vice President, Chief Financial Officer 402-341-4500
  Patti McAtee - Director, Corporate Communications                 402-341-4500
  Kate Inverarity - Brunswick                                       212-333-3810
  
       CalEnergy Announces Notice of Redemption of the Company's
                 10 1/4% Senior Discount Notes Due 2004
  
       OMAHA, NE, December 15, 1998:  CalEnergy Company, Inc.
  ("CalEnergy" or the "Company") (NYSE:  CE; PCX and London)
  announced today that the Company called for redemption of all its
  outstanding 10 1/4% Senior Discount Notes due 2004 (collectively, the
  "Notes").  Pursuant to the provisions of the Note Indenture,
  between CalEnergy and IBJ Schroder Bank & Trust Company, as
  Trustee, the Notes will be redeemed, in full, on January 15, 1999
  at 105.125% of the principal amount thereof plus accrued and unpaid
  interest of $51.25 per $1,000 principal amount of the Notes,
  resulting in an aggregate redemption price per $1,000 principal
  amount of the Notes of $1,102.50.
  
       Payment of the Notes being redeemed will be made only upon
  presentation and surrender of the Notes by hand or by mail to the
  Trustee as follows:  IBJ Schroder Bank & Trust Company, One State
  Street, Securities Processing Window, SC-1, New York, New York
  10004.  Any questions relating to this Notice of Redemption or the
  loss of a Note should be directed to the Customer Service
  Department at IBJ Schroder Bank & Trust Company at (212) 858-2040.
  The Notes will no longer be deemed outstanding on and after January
  15, 1999, interest on the Notes will cease to accrue and all rights
  with respect to the Notes will cease, except only the right of the
  holders thereof to receive the redemption price.
  
       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 approximately 2.2 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 4,300 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>
metadata_documents: [{"type": "8-K", "sequence": "1", "secsgml_size_bytes": 6346}]
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": "98769589"}, "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 December 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  December 15, 1998, the registrant announced that,  acting
  pursuant  to  authorization  of its  Board  of  Directors,  it  had
  irrevocably called for redemption on January 15, 1999  all  of  its
  outstanding 10 1/4% Senior Discount Notes due 2004.
  
        Pursuant  to  the  provisions of the Note  Indenture  between
  CalEnergy  and IBJ Schroder Bank & Trust Company, as  Trustee,  the
  Notes will be redeemed, in full, on January 15, 1999 at 105.125% of
  the  principal amount thereof plus accrued and unpaid  interest  of
  $51.25  per $1,000 principal amount of the Notes, resulting  in  an
  aggregate redemption price per $1,000 principal amount of the Notes
  of $1,102.50.
  
        Payment  of the Notes being redeemed will be made  only  upon
  presentation and surrender of the Notes by hand or by mail  to  the
  Trustee  as follows:  IBJ Schroder Bank & Trust Company, One  State
  Street,  Securities  Processing Window, SC-1, New  York,  New  York
  1004.   Any questions relating to this Notice of Redemption or  the
  loss  of  a  Note  should  be  directed  to  the  Customer  Service
  Department at IBJ Schroder Bank & Trust Company at (212)  858-2040.
  The Notes will no longer be deemed outstanding on and after January
  15, 1999, interest on the Notes will cease to accrue and all rights
  with respect to the Notes will cease, except only the right of  the
  holders thereof to receive the redemption price.
  
  Item 7.  Financial Statements and Exhibits
  
  Exhibit 1 - Press Release dated December 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/ Steven A. McArthur
                                          Steven A. McArthur
                                          Executive  Vice  President and
                                          General Counsel
  
                                             Dated: December 15, 1998
  Exhibit 1
                                                                     
                                                                     
  
                                   
  
  FOR IMMEDIATE RELEASE
  
  Craig M. Hammett - Senior Vice President, Chief Financial Officer 402-341-4500
  Patti McAtee - Director, Corporate Communications                 402-341-4500
  Kate Inverarity - Brunswick                                       212-333-3810
  
       CalEnergy Announces Notice of Redemption of the Company's
                 10 1/4% Senior Discount Notes Due 2004
  
       OMAHA, NE, December 15, 1998:  CalEnergy Company, Inc.
  ("CalEnergy" or the "Company") (NYSE:  CE; PCX and London)
  announced today that the Company called for redemption of all its
  outstanding 10 1/4% Senior Discount Notes due 2004 (collectively, the
  "Notes").  Pursuant to the provisions of the Note Indenture,
  between CalEnergy and IBJ Schroder Bank & Trust Company, as
  Trustee, the Notes will be redeemed, in full, on January 15, 1999
  at 105.125% of the principal amount thereof plus accrued and unpaid
  interest of $51.25 per $1,000 principal amount of the Notes,
  resulting in an aggregate redemption price per $1,000 principal
  amount of the Notes of $1,102.50.
  
       Payment of the Notes being redeemed will be made only upon
  presentation and surrender of the Notes by hand or by mail to the
  Trustee as follows:  IBJ Schroder Bank & Trust Company, One State
  Street, Securities Processing Window, SC-1, New York, New York
  10004.  Any questions relating to this Notice of Redemption or the
  loss of a Note should be directed to the Customer Service
  Department at IBJ Schroder Bank & Trust Company at (212) 858-2040.
  The Notes will no longer be deemed outstanding on and after January
  15, 1999, interest on the Notes will cease to accrue and all rights
  with respect to the Notes will cease, except only the right of the
  holders thereof to receive the redemption price.
  
       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 approximately 2.2 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 4,300 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
                                   
                                 # # #