-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, VfUtdWFeYpYGaZDt3HmPLoN4wiiADGc1Q0P97BnqZ7C8JJgbw0A7wBaGH2ggnVF7 r67HyohYVXgLvEbQ0n6nrQ== 0001031296-02-000184.txt : 20021007 0001031296-02-000184.hdr.sgml : 20021007 20021007140814 ACCESSION NUMBER: 0001031296-02-000184 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20021007 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20021007 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CLEVELAND ELECTRIC ILLUMINATING CO CENTRAL INDEX KEY: 0000020947 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 340150020 STATE OF INCORPORATION: OH FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-02323 FILM NUMBER: 02783026 BUSINESS ADDRESS: STREET 1: 76 SOUTH MAIN STREET STREET 2: C/O FIRSTENERGY CORP CITY: AKRON STATE: OH ZIP: 44308 BUSINESS PHONE: 2166229800 FILER: COMPANY DATA: COMPANY CONFORMED NAME: TOLEDO EDISON CO CENTRAL INDEX KEY: 0000352049 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 344375005 STATE OF INCORPORATION: OH FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-03583 FILM NUMBER: 02783028 BUSINESS ADDRESS: STREET 1: 76 SOUTH MAIN STREET CITY: AKRON STATE: OH ZIP: 43308 BUSINESS PHONE: 2166229800 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FIRSTENERGY CORP CENTRAL INDEX KEY: 0001031296 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 341843785 STATE OF INCORPORATION: OH FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-21011 FILM NUMBER: 02783027 BUSINESS ADDRESS: STREET 1: 76 SOUTH MAIN ST CITY: AKRON STATE: OH ZIP: 44308-1890 BUSINESS PHONE: 3303845100 MAIL ADDRESS: STREET 1: 76 SOUTH MAIN ST CITY: AKRON STATE: OH ZIP: 44308-1890 8-K 1 main.txt SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (Date of earliest event reported) October 7, 2002 Commission Registrant; State of Incorporation; I.R.S. Employer File Number Address; and Telephone Number Identification No. - ----------- ------------------------------------------- ------------------ 333-21011 FIRSTENERGY CORP. 34-1843785 (An Ohio Corporation) 76 South Main Street Akron, Ohio 44308 Telephone (800)736-3402 1-2323 THE CLEVELAND ELECTRIC ILLUMINATING COMPANY 34-0150020 (An Ohio Corporation) c/o FirstEnergy Corp. 76 South Main Street Akron, OH 44308 Telephone (800)736-3402 1-3583 THE TOLEDO EDISON COMPANY 34-4375005 (An Ohio Corporation) c/o FirstEnergy Corp. 76 South Main Street Akron, OH 44308 Telephone (800)736-3402 Item 5. Other Events FirstEnergy Corp. issued a press release, filed as an Exhibit to this Form 8-K, relating to the Davis-Besse Nuclear Power Station, which is jointly owned by The Cleveland Electric Illuminating Company and The Toledo Edison Company, wholly owned subsidiaries of FirstEnergy Corp. Item 7. Exhibits Exhibit No. Description - ----------- ----------- 99 Press Release of FirstEnergy Corp. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, each Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. October 7, 2002 FIRSTENERGY CORP. ----------------- Registrant THE CLEVELAND ELECTRIC ---------------------- ILLUMINATING COMPANY -------------------- Registrant THE TOLEDO EDISON COMPANY ------------------------- Registrant /s/ Harvey L. Wagner ------------------------------------ Harvey L. Wagner Vice President, Controller and Chief Accounting Officer 1 EX-99 3 ex99.txt PRESS RELEASE Exhibit 99 FirstEnergy Corp. For Release: October 7, 2002 76 South Main Street Akron, Ohio 44308 News Media Contact: Investor Contact: Ralph DiNicola Kurt Turosky (330) 384-5939 (330) 384-5500 FIRSTENERGY UPDATES INFORMATION ON DAVIS-BESSE FirstEnergy Corp. (NYSE: FE) today provided an update of cost and schedule estimates by its subsidiary, FirstEnergy Nuclear Operating Company (FENOC), related to the reactor head replacement at the Davis-Besse Nuclear Power Station. The estimated range for reactor head replacement costs remains unchanged at $55 million to $75 million - most of which will be capitalized. Net replacement energy costs on a pre-tax basis also remain the same - approximately $20 million per month for this past July and August; and $10 million to $15 million per month for non-summer months. Other costs associated with restoring the plant to service, initially estimated at $50 million to $70 million, have increased because of additional work that will be performed in order to enhance the reliability and performance of plant equipment. The additional work primarily is related to extent-of-condition projects inside the containment building, as well as other accelerated maintenance projects - including approximately $27 million in projects that had been planned for future refueling and maintenance outages. As a result, other costs associated with restoration work are now expected to increase in 2002 by an estimated $65 million and in 2003 by an estimated $50 million - much of which is expected to be incurred after the plant returns to service. Most of these other costs associated with restoration will be expensed. FirstEnergy estimates that the outage costs and net replacement energy costs will reduce 2002 earnings by approximately $0.46 to $0.53 per share. The additional extent-of-condition work includes redesigning and rebuilding of the containment sump, expanded work on air coolers, and more extensive recoating of equipment and structures; and the other accelerated maintenance activities include reactor coolant pump maintenance, cooling tower basin repairs, and valve maintenance. (more) 2 With respect to the restart schedule announced in May, structural work to support replacement of the reactor head has been completed, all significant modifications are progressing on schedule, and all major work is expected to be finished by year-end. Based on the additional work discussed in this news release and associated regulatory review, FENOC now expects the plant to be ready for restart early next year, rather than by year-end. This change in schedule is designed to further ensure that related work is completed in accordance with all applicable requirements, with the continued understanding that restart is subject to NRC review and approval. On-peak energy supply to replace output from Davis-Besse has been fully hedged through 2002, and provisions have been made to substantially hedge that supply until restart. Excluding the impact of maintenance and replacement energy costs related to the Davis-Besse restoration, and of any potential impact from Emdersa - - an Argentinian distribution company pending sale that was acquired through the GPU merger - FirstEnergy expects 2002 earnings to be at the high end of the company's earnings guidance of $3.30 to $3.45 per share of common stock. Prior earnings guidance for 2003 did not include the impact of expenses or replacement energy costs related to the restoration issue. Davis-Besse is operated by FirstEnergy Corp.'s FENOC subsidiary. FirstEnergy is a registered public utility holding company headquartered in Akron, Ohio. Forward-Looking Statement: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risk and uncertainties. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "believe," "estimate," and similar words. Actual results may differ materially due to the speed and nature of increased competition and deregulation in the electric utility industry, economic or weather conditions affecting future sales and margins, changes in markets for energy services, changing energy market prices, legislative and regulatory changes or approvals (including revised environmental requirements), availability and cost of capital, inability to accomplish or realize anticipated benefits of strategic goals and other similar factors. (100702) 3 -----END PRIVACY-ENHANCED MESSAGE-----