-----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, ESWPXryeLZssgKrJC3vBsdecs5wJZRynUjXHW75LsgnbHsI4WlPXq43N6WZsgHQD ET3pmd+DvXoyuCdIlLv3sQ== 0001046861-02-000002.txt : 20020413 0001046861-02-000002.hdr.sgml : 20020413 ACCESSION NUMBER: 0001046861-02-000002 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20020110 ITEM INFORMATION: Other events FILED AS OF DATE: 20020111 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ENERGY EAST CORP CENTRAL INDEX KEY: 0001046861 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 141798693 STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-14766 FILM NUMBER: 2507823 BUSINESS ADDRESS: STREET 1: PO BOX 12904 STREET 2: STE 2006A 20TH FL CITY: ALBANY STATE: NY ZIP: 12212-2904 BUSINESS PHONE: 5184343014 MAIL ADDRESS: STREET 1: PO BOX 12904 STREET 2: SUITE 2006A 20TH FLOOR CITY: ALBANY STATE: NY ZIP: 12212-2904 FORMER COMPANY: FORMER CONFORMED NAME: NGE RESOURCES INC DATE OF NAME CHANGE: 19970924 FILER: COMPANY DATA: COMPANY CONFORMED NAME: NEW YORK STATE ELECTRIC & GAS CORP CENTRAL INDEX KEY: 0000071675 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC & OTHER SERVICES COMBINED [4931] IRS NUMBER: 150398550 STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-03103 FILM NUMBER: 2507824 BUSINESS ADDRESS: STREET 1: PO BOX 3287 CITY: ITHACA STATE: NY ZIP: 14852-3287 BUSINESS PHONE: 607-729-2551 MAIL ADDRESS: STREET 1: PO BOX 3287 CITY: ITHACA STATE: NY ZIP: 14852-3287 8-K 1 e8k0110.htm FORM 8-K Form 8-K

 

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): January 10, 2002

_____________________

 

 

Commission
file number

Exact name of Registrant as specified in its charter,
State of incorporation, Address and Telephone number

IRS Employer
Identification No.

1-14766

Energy East Corporation
(A New York Corporation)
P. O. Box 12904
Albany, New York 12212-2904
(518) 434-3049

14-1798693

1-3103-2

New York State Electric & Gas Corporation
(A New York Corporation)
P. O. Box 3287
Ithaca, New York 14852-3287
(607) 347-4131

15-0398550

 

 

Not Applicable

(Former name or former address, if changed since last report.)

 

 

Item 5.  Other Events

(See report on Form 10-Q for Energy East and NYSEG for quarter ended September 30, 2001, Item 2(a) Liquidity and Capital Resources, NYSEG Electric Rate Agreement and RGS Energy Merger Agreement.)

NYSEG Electric Rate and Restructuring Agreement

NYSEG's five-year rate plan under its electric rate and restructuring agreement was approved by the New York State Public Service Commission (NYPSC) in January 1998 and extends to March 2003. At the NYPSC's open session on December 19, 2001, the NYPSC voted to approve a temporary electric rate decrease of $205 million, and subsequently on January 10, 2002, the NYPSC issued its Order.

The Order directs NYSEG to file tariffs on or before January 21, 2002, for new temporary rates that provide the same percentage rate decrease to all electric customers. The temporary rates are to become effective January 30, 2002, and would remain in effect until the NYPSC determines the appropriate level of permanent rates. The Order also directs NYSEG to file, on or before April 1, 2002, the support required for the NYPSC to establish permanent rates.

NYSEG believes that the NYPSC's action is unlawful and that it violates the five-year rate plan under the electric rate and restructuring agreement. The company will take whatever steps are necessary to appeal the NYPSC's action. If implemented, the NYPSC's temporary rate reduction would materially affect NYSEG's earnings and cash flow because it would accelerate a rate reduction previously expected to occur at the end of the rate plan in March 2003. NYSEG continues to evaluate the ultimate effect of the temporary rates on earnings and cash flows. The company is working with the NYPSC's staff and other parties to reach a negotiated settlement on NYSEG's revised long-term electric rate plan filed on August 3, 2001.

As a result of the passage of time in connection with reaching a negotiated settlement with the NYPSC, the company now expects to complete its merger with RGS Energy in the second quarter of 2002.

Forward-looking Statements

This Form 8-K contains certain forward-looking statements that are based upon management's current expectations and information that is currently available. The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements in certain circumstances. Whenever used in this report, the words "estimate," "expect," "believe," or similar expressions are intended to identify such forward-looking statements.

In addition to the assumptions and other factors referred to specifically in connection with such statements, factors that could cause actual results to differ materially from those contemplated in any forward-looking statements include, among others: the deregulation and continued regulatory unbundling of a vertically integrated industry; the companies' ability to compete in the rapidly changing and increasingly competitive electricity and natural gas utility markets; regulatory uncertainty in a politically-charged environment of rising energy prices; the operation of the New York Independent System Operator and ISO New England, Inc.; the operation of a regional transmission organization; the ability to control non-utility generator and other costs; changes in fuel supply or cost and the success of strategies to satisfy power requirements now that all of Energy East's coal-fired generation assets have been sold; Energy East's ability to expand its products and services, including its energy infrastructur e in the Northeast; Energy East's ability to integrate the operations of Connecticut Energy, CMP Group, CTG Resources, Berkshire Energy and RGS Energy with its operations; market risk; the ability to obtain adequate and timely rate relief; nuclear or environmental incidents; legal or administrative proceedings; changes in the cost or availability of capital; growth in the areas in which the companies are doing business; weather variations affecting customer energy usage; and other considerations that may be disclosed from time to time in the companies' publicly disseminated documents and filings. The companies undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.

 

 

 

 

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.

 

 

 

Date:  January 11, 2002

ENERGY EAST CORPORATION
              (Registrant)

 

By   /s/ Kenneth M. Jasinski                            
           Kenneth M. Jasinski
           Executive Vice President,
           General Counsel & Secretary

 

 

 

Date:  January 11, 2002

NEW YORK STATE ELECTRIC & GAS CORPORATION
              (Registrant)

 

By   /s/ Sherwood J. Rafferty                           
           Sherwood J. Rafferty
           Senior Vice President and
           Chief Financial Officer

 

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