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 January 19, 1999
                   (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  January  19,  1999, the Registrant  announced  that  they
  redeemed  in full its outstanding 10 1/4% Senior Discount  Notes  due
  2004  (collectively,  the "Notes").  A copy of  the  press  release
  issued  by  CalEnergy  is  attached hereto  as  Exhibit  1  and  is
  incorporated herein by reference.
  
        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 including expectations regarding the
  future  results of operations of Registrant and MidAmerican  Energy
  Holdings  Company and the combined company, the intended  financing
  of  the  merger and receipt of regulatory approvals.  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  Proxy Statement and 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 January 19, 1999
  
  <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: __________________________
                                          Douglas L. Anderson
                                          Assistant Secretary and
                                          Assistant General Counsel
  
  
  
  
  Dated: January 25, 1999
  
  <PAGE>
                               EXHIBIT 1
  
  
  FOR IMMEDIATE RELEASE
  Craig 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 Redemption of the Company's
                 10 1/4% Senior Discount Notes Due 2004
  
       OMAHA, NE, January 19, 1999:  CalEnergy Company, Inc.
  ("CalEnergy" or the "Company") (NYSE:  CE; PCX and London)
  announced today that the Company redeemed in full 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 Whitehall Bank & Trust Company, as Trustee, the Notes were
  redeemed 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.
  
       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 2.1 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 4,400 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": 6024}]
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": "99512510"}, "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 January 19, 1999
                   (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  January  19,  1999, the Registrant  announced  that  they
  redeemed  in full its outstanding 10 1/4% Senior Discount  Notes  due
  2004  (collectively,  the "Notes").  A copy of  the  press  release
  issued  by  CalEnergy  is  attached hereto  as  Exhibit  1  and  is
  incorporated herein by reference.
  
        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 including expectations regarding the
  future  results of operations of Registrant and MidAmerican  Energy
  Holdings  Company and the combined company, the intended  financing
  of  the  merger and receipt of regulatory approvals.  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  Proxy Statement and 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 January 19, 1999
  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: __________________________
                                          Douglas L. Anderson
                                          Assistant Secretary and
                                          Assistant General Counsel
  
  Dated: January 25, 1999
  EXHIBIT 1
  
  FOR IMMEDIATE RELEASE
  Craig 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 Redemption of the Company's
                 10 1/4% Senior Discount Notes Due 2004
  
       OMAHA, NE, January 19, 1999:  CalEnergy Company, Inc.
  ("CalEnergy" or the "Company") (NYSE:  CE; PCX and London)
  announced today that the Company redeemed in full 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 Whitehall Bank & Trust Company, as Trustee, the Notes were
  redeemed 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.
  
       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 2.1 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 4,400 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
                                   
                                 # # #