FORM 8-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
Current Report
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) September 13, 1996
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CAROLINA POWER & LIGHT COMPANY
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(Exact name of registrant as specified in its charter)
North Carolina 1-3382 56-0165465
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
411 Fayetteville Street, Raleigh, North Carolina 27601-1748
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(Address of principal executive offices)
Registrant's telephone number, including area code (919) 546-6111
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Item 5. Other Events
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(Reference is made to the Company's 1995 Form 10-K, Other Matters, page 27.)
With regard to Hurricane Fran that struck portions of the Company's service
territory on September 5, 1996, preliminary estimates indicate that restoring
the Company's system from the hurricane's damage could cost in excess of $70
million. Approximately two-thirds of the cost represent capital expenditures
related to labor and materials used in replacing destroyed poles, lines and
other equipment. The remaining one-third is related to repairs of damaged
equipment. The Company does not expect to seek a general rate increase to
recover the restoration costs. Instead, on September 13, 1996, the Company
proposed to the North Carolina Utilities Commission (Docket No. E-2, Sub 699)
a plan that would defer hurricane operating and maintenance expenses and
amortize them over the next three years. The capital expenditures related to
the hurricane costs would be depreciated under normal accounting procedures.
The Company cannot predict the outcome of this matter.
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SIGNATURES
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.
CAROLINA POWER & LIGHT COMPANY
Registrant
By: /s/ Glenn E. Harder
Executive Vice President
Date: September 13, 1996
