As filed with the Securities and Exchange Commission on September 19, 1997.
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K/A
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report: August 27, 1997
(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)
c/o Centerior Energy Corporation
6200 Oak Tree Boulevard
Independence, Ohio 44131
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"), The Cleveland Electric Illuminating Company
("Cleveland Electric") and The Toledo Edison Company ("Toledo Edison").
Centerior, 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.
Item 5. Other Events
1. Refinancings. On August 27, 1997, Cleveland Electric and Toledo Edison
completed the refinancing of $180.6 million aggregate principal amount and
$10.1 million principal amount, respectively, of first mortgage bonds
issued as security for certain tax-exempt bonds issued by public
authorities. Cleveland Electric plans to refinance up to $550 million of
outstanding first mortgage bonds during the fourth quarter of 1997.
2. Cleveland Electric Collective Bargaining Agreement. Since the
expiration of a collective bargaining agreement between Cleveland Electric
and the only union representing about 55% of Cleveland Electric's
employees, the parties have continued to negotiate under the supervision of
a federal mediator. Both sides have agreed that there will be no strike or
lock-out while good faith negotiations are continuing. There is a risk
that such an event may occur if Cleveland Electric and the union do not
reach an agreement promptly. However, Cleveland Electric believes that it
would be able to continue to provide substantially normal electric service
to its customers if any such event were to occur. On September 5, 1997,
union members voted to give the union's negotiating committee authority to
declare a strike.
3. Centerior Energy Investment. On September 4, 1997, the principal of a
local broker-dealer firm was arrested on federal charges including
racketeering and fraud in connection with the alleged conversion of $10
million of Centerior Energy corporate funds which had been invested with
the firm. On the same day, Centerior Energy sued the principal, the firm
and associated companies seeking recovery of its monies. The assets of the
defendants have been frozen and discovery is progressing on an expedited
basis.
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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
undersigned 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
September 19, 1997
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