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 April 11, 1994  
                     (Date of earliest event reported)
  
  
  
  
                  California Energy 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)   
  
  
  
        10831 Old Mill Road       Omaha, Nebraska         68154         
  (Address of principal executive offices)               Zip Code
  
  
  
  Registrant's Telephone Number, including area code: (402) 330-8900
  
  
  
                             N/A                                        
       (Former name or former address, if changed since last report)
  <PAGE>
  
  ITEM 5.  Other Events
  
        On April 11, 1994 the Registrant announced the close of
  financing for the 120 MW Upper Mahiao geothermal power project
  located in the Philippines.  The Export-Import Bank of the U.S.
  (Ex-Im Bank) is the project term lender, with the Overseas
  Private Investment Corporation ( OPIC) providing political risk
  insurance on the equity investment by the Registrant.  The Upper
  Mahiao project is scheduled to begin construction shortly, and is
  expected to be in service by July of 1996.  The project is
  structured as a ten year Build-Own-Transfer (BOT), in which CE
  Cebu, the project company, will be responsible for building the
  power plant and providing the operations and maintenance during
  the ten year BOT period.  The electricity generated by the Upper
  Mahiao geothermal power plant will be provided to the Philippine
  National Oil Company (PNOC), which is also responsible for
  supplying the facility with the geothermal steam.  After a ten
  year cooperation period, the plant is transferred to PNOC.  Ormat
  Inc. of Sparks, Nevada is the turnkey contractor for the project.
  
        The total project cost for the facility is approximately
  $218,000,000.  The Registrant will supply $56,000,000 of equity
  which will be insured by OPIC, with the Ex-Im Bank providing
  approximately $162,000,000 of the permanent financing and
  political risk insurance during the construction phase.  The Ex-
  Im Bank funding is a ten year project finance loan which will be
  repaid from the cash flows of the project.  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 April 11, 1994.
        
  <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.
  
                                  California Energy Company, Inc.
  
  
  
                                  By:   /s/Steven A. McArthur           
                                        Steven A. McArthur
                                        Senior Vice President
  
  Dated:  April 18, 1994
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metadata_filer: {"company-data": {"conformed-name": "CALIFORNIA ENERGY CO INC", "cik": "0000720556", "assigned-sic": "4961", "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": "94523158"}, "business-address": {"street1": "10831 OLD MILL RD STE 900", "city": "OMAHA", "state": "NE", "zip": "68154", "phone": "4023308900"}, "mail-address": {"street1": "10831 OLD MILL ROAD", "city": "OMAHA", "state": "NE", "zip": "68154"}}
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 April 11, 1994  
                     (Date of earliest event reported)
  
                  California Energy 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)   
  
        10831 Old Mill Road       Omaha, Nebraska         68154         
  (Address of principal executive offices)               Zip Code
  
  Registrant's Telephone Number, including area code: (402) 330-8900
  
                             N/A                                        
       (Former name or former address, if changed since last report)
  ITEM 5.  Other Events
  
        On April 11, 1994 the Registrant announced the close of
  financing for the 120 MW Upper Mahiao geothermal power project
  located in the Philippines.  The Export-Import Bank of the U.S.
  (Ex-Im Bank) is the project term lender, with the Overseas
  Private Investment Corporation ( OPIC) providing political risk
  insurance on the equity investment by the Registrant.  The Upper
  Mahiao project is scheduled to begin construction shortly, and is
  expected to be in service by July of 1996.  The project is
  structured as a ten year Build-Own-Transfer (BOT), in which CE
  Cebu, the project company, will be responsible for building the
  power plant and providing the operations and maintenance during
  the ten year BOT period.  The electricity generated by the Upper
  Mahiao geothermal power plant will be provided to the Philippine
  National Oil Company (PNOC), which is also responsible for
  supplying the facility with the geothermal steam.  After a ten
  year cooperation period, the plant is transferred to PNOC.  Ormat
  Inc. of Sparks, Nevada is the turnkey contractor for the project.
  
        The total project cost for the facility is approximately
  $218,000,000.  The Registrant will supply $56,000,000 of equity
  which will be insured by OPIC, with the Ex-Im Bank providing
  approximately $162,000,000 of the permanent financing and
  political risk insurance during the construction phase.  The Ex-
  Im Bank funding is a ten year project finance loan which will be
  repaid from the cash flows of the project.  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 April 11, 1994.
  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.
  
                                  California Energy Company, Inc.
  
                                  By:   /s/Steven A. McArthur           
                                        Steven A. McArthur
                                        Senior Vice President
  
  Dated:  April 18, 1994