content: Securities and Exchange Commission
  
                        Washington, DC  20549
  
                              Form 8-K
  
                           Current Report
  
               Pursuant to Section 13 to 15(d) of the
                    Securities Exchange Act 1934
  
  
                   Date of Report January 10, 1995
                  (Date of earliest event reported)
  
  
  
                         Magma Power Company
       (Exact name of registrant as specified in its charter)
  
  
  
      Nevada                  0-10533               95-3604478      
  (State of other       (Commission File       (IRS Employer
   jurisdiction of       Number)                Identification No.)
   incorporation)
  
  
  
   4365 Executive Drive, Suite 900   San Diego, California   92121  
  (Address of principal executive offices)                 Zip Code
  
  
  
  
  Registrant's Telephone Number, including area code:(619) 622-7800
  
  
  
  
                                 N/A                               
    (Former name or former address, if changed since last report)
  
  <PAGE>
  Item 5.  Other Events
  
  
  Purchase of 51% of Magma Common Stock
  
       On January 10, 1995, the Registrant announced that
  California Energy Company, Inc.'s wholly owned subsidiary, CE
  Acquisition Company, Inc., has accepted for payment 12,400,000
  shares of the Registrant's common stock at $39 per share, which,
  together with shares already owned by California Energy Company,
  Inc., represent approximately 51% of the Registrant's common
  stock.  A copy of the press release issued by the Registrant is
  set forth as Exhibit 1 hereto and is incorporated herein by
  reference.
  
  
  
  Item 7.  Financial Statements and Exhibits
  
  Exhibit 1 - Press Release dated January 10, 1995.
  
  
  
  <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.
  
                                     Magma Power Company
  
  
  
                                                                   
                                     By: \s\ Douglas L. Anderson   
                                           Douglas L. Anderson
                                           Assistant Secretary
  
  
  
  Dated: January 11, 1995
metadata_documents: [{"type": "8-K", "sequence": "1", "secsgml_size_bytes": 2270}]
metadata_filer: {"company-data": {"conformed-name": "MAGMA POWER CO /NV/", "cik": "0000355878", "assigned-sic": "4991", "irs-number": "953694478", "state-of-incorporation": "NV", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-11389", "film-number": "95501039"}, "business-address": {"street1": "4365 EXECUTIVE DR STE 900", "city": "SAN DIEGO", "state": "CA", "zip": "92121", "phone": "6196227800"}, "mail-address": {"street1": "4365 EXECUTIVE DR STE 900", "city": "SAN DIEGO", "state": "CA", "zip": "92121"}, "former-company": {"former-conformed-name": "MAGMA DEVELOPMENT CORP", "date-changed": "19820519"}}
text: Securities and Exchange Commission
  
                        Washington, DC  20549
  
                              Form 8-K
  
                           Current Report
  
               Pursuant to Section 13 to 15(d) of the
                    Securities Exchange Act 1934
  
                   Date of Report January 10, 1995
                  (Date of earliest event reported)
  
                         Magma Power Company
       (Exact name of registrant as specified in its charter)
  
      Nevada                  0-10533               95-3604478      
  (State of other       (Commission File       (IRS Employer
   jurisdiction of       Number)                Identification No.)
   incorporation)
  
   4365 Executive Drive, Suite 900   San Diego, California   92121  
  (Address of principal executive offices)                 Zip Code
  
  Registrant's Telephone Number, including area code:(619) 622-7800
  
                                 N/A                               
    (Former name or former address, if changed since last report)
  Item 5.  Other Events
  
  Purchase of 51% of Magma Common Stock
  
       On January 10, 1995, the Registrant announced that
  California Energy Company, Inc.'s wholly owned subsidiary, CE
  Acquisition Company, Inc., has accepted for payment 12,400,000
  shares of the Registrant's common stock at $39 per share, which,
  together with shares already owned by California Energy Company,
  Inc., represent approximately 51% of the Registrant's common
  stock.  A copy of the press release issued by the Registrant is
  set forth as Exhibit 1 hereto and is incorporated herein by
  reference.
  
  Item 7.  Financial Statements and Exhibits
  
  Exhibit 1 - Press Release dated January 10, 1995.
  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.
  
                                     Magma Power Company
  
                                                                   
                                     By: \s\ Douglas L. Anderson   
                                           Douglas L. Anderson
                                           Assistant Secretary
  
  Dated: January 11, 1995