As filed with the Securities and Exchange Commission on February 12, 1998
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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):
February 12, 1998
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Exact name of Registrant as
Commission specified in its charter, address State of I.R.S. Employer
File No. of principal executive offices, telephone Incorporation Identification No.
1-8349 FLORIDA PROGRESS CORPORATION Florida 59-2147112
One Progress Plaza
St. Petersburg, Florida 33701
Telephone (813) 824-6400
1-3274 FLORIDA POWER CORPORATION Florida 59-0247770
3201 34th Street South
St. Petersburg, Florida 33711
Telephone (813) 866-5151
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The address of neither registrant has changed since the last report.
This combined Form 8-K represents separate filings by Florida Progress
Corporation and Florida Power Corporation. Information contained herein relating
to an individual registrant is filed by that registrant on its own behalf.
Florida Power makes no representations as to the information relating to Florida
Progress' diversified operations.
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Item 5. Other Events
In light of ongoing securities offerings by Florida Progress Corporation
("Florida Progress") and its subsidiaries, including Florida Power Corporation
("Florida Power") and Progress Capital Holdings, Inc., the following information
is being presented pending distribution of the combined Florida Progress and
Florida Power Annual Report on Form 10-K for the year ended December 31, 1997:
Florida Progress issued an Investor News report dated February 12, 1998 to
provide an update concerning the Florida Power Crystal River Nuclear Plant. A
copy of the Investor News report is being furnished herewith as Exhibit 99.
Item 7. Financial Statements and Exhibits
(c) Exhibits:
Exhibit Number (by
reference to Item 601
of Regulation S-K) Description of Exhibit
99 Florida Progress Investor News report dated February 12,
1998 concerning Florida Power's Crystal River Nuclear
Plant.
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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 hereunto duly authorized. The signature of the undersigned on behalf
of each listed company shall be deemed to relate only to matters having
reference to such company.
FLORIDA PROGRESS CORPORATION
FLORIDA POWER CORPORATION
/s/Pamela A. Saari
By:____________________________
Pamela A. Saari
Assistant Treasurer
of each Registrant
Date: February 12, 1998
<PAGE>
EXHIBIT INDEX
Exhibit No. Description of Exhibit
99 Florida Progress Investor News report dated February 12,
1998 concerning Florida Power's Crystal River Nuclear
Plant.
EXHIBIT 99
Florida Progress Corporation
Investor News - Florida Power's Crystal River Nuclear Plant
[LOGO OMITTED]
Analyst Contacts:
Mark A. Myers (813) 866-4245
Greg Beuris (813) 866-4442
Crystal River Nuclear Plant Update
St. Petersburg, Florida, February 12, 1998 -- Florida Power Corporation's
Crystal River nuclear plant, which recently returned to service following an
extended outage, went off-line Wednesday morning because of an electrical
problem in the plant's Integrated Control System. This is a non-safety system
which monitors operational systems. Florida Power believes it has corrected the
problem and expects to return the plant to service within the next two days.
Although no specific approval from the Nuclear Regulatory Commission is required
to start up the plant, Florida Power has discussed the problem with the NRC and
they are satisfied with the diagnosis of the problem and the plans to return the
unit to service.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of
1995: this news release contains a forward looking statement regarding the
restart of the nuclear plant. This statement involve risks and uncertainties
that could cause actual results or outcomes to differ materially from
expectations. Key factors that could have a direct impact on actual results
include unforseen problems with the restart or operation of the plant and other
factors described in the company's Securities and Exchange Commission filings.
Florida Progress (NYSE:FPC) is a Fortune 500 diversified utility holding company
with assets of $5.8 billion. Its principal subsidiary is Florida Power, the
state's second-largest electric utility with about 1.3 million customers.
Diversified operations include coal mining, marine operations and rail services.
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