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 July 7, 1997
                             	(Date of earliest event reported)
  
  
  
                                   	CalEnergy Company, Inc.
                  	(Exact name of registrant as specified in its charter)
  
  
  
      Delaware                 1-9874                    94-2213782   
    State of   	          (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  
  
  	The Registrant announced the impact of the U.K. so called "Windfall Tax" 
  in the attached Press Release dated July 7, 1997.  
  	 
  
  Item 7.  Financial Statements and Exhibits
  
  	Exhibit 1 - Press Release dated July 7, 1997 
     
  
  
  	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: July 7, 1997
  
  
  
  FOR IMMEDIATE RELEASE                                              Exhibit 1
  
  Craig M. Hammett - Vice President, Chief Financial Officer			402-341-4500
  Jeffrey S. Laudin - Manager, Investor Relations				         	402-341-4500
  
  CalEnergy Announces No Net Additional Cash Impact
  Resulting from Northern Electric's U.K. Windfall Tax
  
  	OMAHA, NEBRASKA, Monday, July 7, 1997 - CalEnergy Company, Inc. 
  ("CalEnergy") (NYSE, LSE and PSE Symbol:  CE) announced today that the so-
  called "Windfall Tax" which had been proposed by the United Kingdom Labour 
  Party and the details of which were released July 2, 1997 as part of the 
  Labour Government's budget are consistent with the cash impact which CalEnergy 
  had estimated prior to its acquisition of Northern Electric plc.  The tax will 
  be payable in two installments over two fiscal years.
  
  	CalEnergy further announced that it plans to take a one-time charge in 
  the third quarter of 1997 to account for the anticipated windfall tax.  The 
  net income impact of the one-time charge is expected to be approximately $136 
  million or $2.06 per share.
  
  	At the time of the acquisition, CalEnergy had accounted for the 
  potential windfall tax as a purchase accounting contingent liability based on 
  the advice of Deloitte & Touche.  However, the SEC has recently stated that a 
  similarly situated company will be permitted to account for such an assessment 
  as a one-time charge.  CalEnergy has determined (with Deloitte & Touche's 
  concurrence) to avail itself of such accounting treatment, which will allow 
  CalEnergy to reduce the future goodwill amortization associated with the 
  acquisition.  Accordingly, CalEnergy's balance sheet goodwill will be reduced 
  by approximately $132 million, thereby benefiting future year earnings.
  
  	"Now that the British Labour government has quantified this one-time 
  tax, it allows us to account for it so as to eliminate its effects from our 
  future earnings," stated David L. Sokol, Chairman and Chief Executive Officer. 
   "In hindsight it was wise of our team to anticipate this proposed tax and to 
  include its full anticipated impact in our bid for Northern Electric.  Now 
  that this one-time tax has been quantified, it confirms the prudence of our 
  Northern Electric acquisition and its future benefits to CalEnergy."
  
  	CalEnergy, which manages and owns interests in over 5,000 net MW of 
  power generation facilities in operation, construction and development 
  worldwide, currently operates 19 generating facilities and also supplies and 
  distributes electricity to 1.5 million customers.
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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": "97637014"}, "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 July 7, 1997
                             	(Date of earliest event reported)
  
                                   	CalEnergy Company, Inc.
                  	(Exact name of registrant as specified in its charter)
  
      Delaware                 1-9874                    94-2213782   
    State of   	          (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  
  
  	The Registrant announced the impact of the U.K. so called "Windfall Tax" 
  in the attached Press Release dated July 7, 1997.  
  	 
  
  Item 7.  Financial Statements and Exhibits
  
  	Exhibit 1 - Press Release dated July 7, 1997 
     
  
  	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: July 7, 1997
  
  FOR IMMEDIATE RELEASE                                              Exhibit 1
  
  Craig M. Hammett - Vice President, Chief Financial Officer			402-341-4500
  Jeffrey S. Laudin - Manager, Investor Relations				         	402-341-4500
  
  CalEnergy Announces No Net Additional Cash Impact
  Resulting from Northern Electric's U.K. Windfall Tax
  
  	OMAHA, NEBRASKA, Monday, July 7, 1997 - CalEnergy Company, Inc. 
  ("CalEnergy") (NYSE, LSE and PSE Symbol:  CE) announced today that the so-
  called "Windfall Tax" which had been proposed by the United Kingdom Labour 
  Party and the details of which were released July 2, 1997 as part of the 
  Labour Government's budget are consistent with the cash impact which CalEnergy 
  had estimated prior to its acquisition of Northern Electric plc.  The tax will 
  be payable in two installments over two fiscal years.
  
  	CalEnergy further announced that it plans to take a one-time charge in 
  the third quarter of 1997 to account for the anticipated windfall tax.  The 
  net income impact of the one-time charge is expected to be approximately $136 
  million or $2.06 per share.
  
  	At the time of the acquisition, CalEnergy had accounted for the 
  potential windfall tax as a purchase accounting contingent liability based on 
  the advice of Deloitte & Touche.  However, the SEC has recently stated that a 
  similarly situated company will be permitted to account for such an assessment 
  as a one-time charge.  CalEnergy has determined (with Deloitte & Touche's 
  concurrence) to avail itself of such accounting treatment, which will allow 
  CalEnergy to reduce the future goodwill amortization associated with the 
  acquisition.  Accordingly, CalEnergy's balance sheet goodwill will be reduced 
  by approximately $132 million, thereby benefiting future year earnings.
  
  	"Now that the British Labour government has quantified this one-time 
  tax, it allows us to account for it so as to eliminate its effects from our 
  future earnings," stated David L. Sokol, Chairman and Chief Executive Officer. 
   "In hindsight it was wise of our team to anticipate this proposed tax and to 
  include its full anticipated impact in our bid for Northern Electric.  Now 
  that this one-time tax has been quantified, it confirms the prudence of our 
  Northern Electric acquisition and its future benefits to CalEnergy."
  
  	CalEnergy, which manages and owns interests in over 5,000 net MW of 
  power generation facilities in operation, construction and development 
  worldwide, currently operates 19 generating facilities and also supplies and 
  distributes electricity to 1.5 million customers.