-----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, Ea74Ht9jChLvrZgjLmRt+rwhQ7Ze21HQK1gK2Y0JD6BJN+bZ3d1a3I0iA7cP2JWg 72RmronkHPMk28jnupuZYQ== 0000081018-97-000017.txt : 19970702 0000081018-97-000017.hdr.sgml : 19970702 ACCESSION NUMBER: 0000081018-97-000017 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19970630 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 19970701 SROS: CSX SROS: NYSE SROS: PSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: SOUTHWESTERN PUBLIC SERVICE CO CENTRAL INDEX KEY: 0000092521 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 750575400 STATE OF INCORPORATION: NM FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-03789 FILM NUMBER: 97633603 BUSINESS ADDRESS: STREET 1: SPS TOWER STREET 2: TYLER AT SIXTH ST CITY: AMARILLO STATE: TX ZIP: 79170 BUSINESS PHONE: 8063782121 MAIL ADDRESS: STREET 1: PO BOX 1261 CITY: AMARILLO STATE: TX ZIP: 79170 8-K 1 8-K FROM SPS RE: CAROLINA ENERGY PROJECT - -------------------------------------------------------------------------------- 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) June 30, 1997 SOUTHWESTERN PUBLIC SERVICE COMPANY ---------------------------------------- (Exact Name of Registrant as Specified in Charter) New Mexico -------------------- (State or Other Jurisdiction of Incorporation) 1-3789 75-0575400 ---------------- ----------------- (Commission File No.) (IRS Employer Identification No.) Tyler at Sixth, Amarillo, Texas 79101 - ------------------------------------------------------------------------- (Address of Principal Executive Offices) (Zip Code) Registrant's telephone number, including area code(806) 378-2121 - -------------------------------------------------------------------------------- ITEM 5. OTHER EVENTS Reference is made to the press release filed as an exhibit hereto for information with respect to Company's recorded charge related to a subsidiary project. ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS (c) Exhibits. The following exhibits are filed herewith: 99 Press Release, dated June 30, 1997, of Southwestern Public Service Company. 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, thereunto duly authorized. SOUTHWESTERN PUBLIC SERVICE COMPANY /s/B. D. Helton ----------------------------- B. D. Helton Chairman and Chief Executive Officer Date: June 30, 1997 EX-99 2 NEWS RELEASE Exhibit 99 SPS Records Charge Related to Carolina Energy Project Southwestern Public Service Company (NYSE:SPS) today reported it will record a one-time, after-tax charge of 25 cents per common share for the period ended June 30, 1997, to write-off the $16.1 million recorded investment of its subsidiaries Quixx Corporation and Utility Engineering Corporation in the Carolina Energy Project in Kinston, N.C. SPS disclosed in February that construction of the waste-to-energy CEP project, originally scheduled to be completed later this year, had been halted pending an independent analysis of the project's viability, and that banks providing debt financing to the project had withheld funds for continued construction. Quixx and Utility Engineering, other equity owners, senior creditors, the cities and counties providing waste for fuel and the constructor have been unable to restructure the project on mutually agreeable terms. The construction contractor is demobilizing, and the creditors have initiated remedies provided under the credit agreement. Accordingly, SPS, Quixx and Utility Engineering management have determined it is unlikely the project will be completed under present ownership, if at all, and the subsidiaries' investments in CEP are unlikely to be recovered. Quixx's investment, approximately $13.64 million, represents a one-third ownership in the facility, including a one percent general partnership interest. UE's net investment from engineering service fees, subordinated debt and related interest receivable equals $2.42 million. SPS also reported in February a one-time, after-tax charge of 25 cents per common share for the period ended Dec. 31, 1996, to write-off a $16 million investment of Quixx in a companion waste-to-energy project, BCH, in Fayetteville, N.C. Southwestern Public Service Company primarily provides electric service to a population of about one million people in a 52,000-square-mile area covering eastern and southeastern New Mexico, the South Plains and Panhandle of Texas, the Oklahoma Panhandle and southwestern Kansas. Corporate headquarters is in Amarillo, Texas. ### For more information: News Media: Bill Crenshaw, Corporate Communications, (806) 378-2120 Security Analysts: Jim Steinhilper, Group Manager of Finance, (303) 294-8227 -----END PRIVACY-ENHANCED MESSAGE-----