As filed with the Securities and Exchange Commission on March 17, 1995.
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: March 15, 1995
(Date of earliest event reported)
Commission Registrant; State of Incorporation; I.R.S. Employer
File Number Address; and Telephone Number Identification No.
1-9130 CENTERIOR ENERGY CORPORATION 34-1479083
(An Ohio Corporation)
6200 Oak Tree Boulevard
Independence, Ohio 44131
Telephone (216) 447-3100
1-2323 THE CLEVELAND ELECTRIC 34-0150020
ILLUMINATING COMPANY
(An Ohio Corporation)
55 Public Square
Cleveland, Ohio 44113
Telephone (216) 622-9800
1-3583 THE TOLEDO EDISON COMPANY 34-4375005
(An Ohio Corporation)
300 Madison Avenue
Toledo, Ohio 43652
Telephone (419) 249-5000
This combined Form 8-K is separately filed by Centerior Energy Corporation
("Centerior Energy"), The Cleveland Electric Illuminating Company ("Cleveland
Electric") and The Toledo Edison Company ("Toledo Edison"). Centerior Energy,
Cleveland Electric and Toledo Edison are sometimes referred to collectively as
the "Companies". Cleveland Electric and Toledo Edison are sometimes referred to
collectively as the "Operating Companies". Information contained herein
relating to any individual registrant is filed by such registrant on its
behalf. No registrant makes any representation as to information relating to
any other registrant, except that information relating to either or both of
the Operating Companies is also attributed to Centerior Energy.
Item 5. Other Events
1. 1995 Rate Requests. For background and further developments related to this
topic, see "Item 1. Business--Electric Rates" in the Companies' Annual Reports
on Form 10-K for the year ended December 31, 1993.
On March 15, 1995, the Operating Companies announced that they each plan to
notify The Public Utilities Commission of Ohio ("PUCO") on March 17, 1995 of
their intent to file a request for a rate increase to be effective in 1996.
Cleveland Electric's requested increase will be $82,800,000 in annual revenue
and Toledo Edison's requested increase will be $34,800,000. The requested
rates would result in an average increase of 4.9% in Cleveland Electric's
existing rates and an average increase of 4.7% in Toledo Edison's existing
rates.
The Operating Companies plan to freeze rates until at least 2002 if their rate
requests are approved, although they are not precluded from requesting
additional rate increases. This plan is premised on the Operating Companies
obtaining full recovery of all costs including an acceptable rate of return on
equity in order to continue to apply Statement of Financial Accounting Standard
71 ("SFAS 71") for financial reporting purposes. The Operating Companies plan
to avoid the need for further rate increases through additional cost reductions,
an enhanced marketing program and other factors. The Operating Companies will
periodically assess their continued compliance with SFAS 71 criteria and the
appropriateness of continuing to record additional deferrals pursuant to the
Rate Stabilization Plan approved by the PUCO in October 1992. They will modify
their intended course of action as necessary to maintain compliance.
The rate increases are necessary to recover capital investment and increases in
costs incurred since the Operating Companies' last rate cases, which were
decided in January 1989, and to recover certain costs deferred since 1992. The
amounts of the requested rate increases are lower than the authorized limits
set forth in the Rate Stabilization Plan referred to above. The additional
cash resulting from the rate increases will strengthen the Operating Companies'
financial and competitive positions.
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SIGNATURES
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 under-
signed thereunto duly authorized.
CENTERIOR ENERGY CORPORATION
Registrant
THE CLEVELAND ELECTRIC ILLUMINATING
COMPANY
Registrant
THE TOLEDO EDISON COMPANY
Registrant
By: JANIS T. PERCIO
Janis T. Percio,
Secretary of each Registrant
March 17, 1995
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