As filed with the Securities and Exchange Commission on February 4, 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):
January 30, 1998
<TABLE>
<CAPTION>
<S> <C> <C> <C>
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
</TABLE>
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.
<PAGE>
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 January 30, 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 January 30,
1998 concerning Florida Power's Crystal River Nuclear
Plant.
<PAGE>
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: January 30, 1998
<PAGE>
EXHIBIT INDEX
Exhibit No. Description of Exhibit
99 Florida Progress Investor News report dated January 30,
1998 concerning Florida Power's Crystal River Nuclear
Plant.
EXHIBIT 99
Florida Progress Corporation
Investor News
[LOGO OMITTED]
Analyst Contacts:
Mark A. Myers (813) 866-4245
Greg Beuris (813) 866-4442
Florida Power Corporation Receives NRC Approval to Start Reactor
at Crystal River Nuclear Plant
St. Petersburg, Florida, January 30, 1998 -- Florida Power Corporation received
approval from the Nuclear Regulatory Commission's Region II Administrator to
start the reactor at its Crystal River nuclear plant. The approval was the final
requirement in the NRC's March 1997 Confirmatory Action Letter, which identified
five items Florida Power must address before returning the nuclear plant to
service.
"This is very good news," said Roy Anderson, senior vice president of Florida
Power Corporation's Energy Supply business unit. "We are pleased to get such a
vote of confidence from the NRC. Now we can truly put this behind us and focus
on the future."
Last week Florida Power received approval from the NRC on its final license
submittal. Approval of this submittal allowed Florida Power to submit its
request to Luis Reyes, Region II Administrator, to restart the plant's reactor.
Florida Power expects the nuclear plant to be back in service within two weeks
of starting the reactor, which is currently scheduled to begin this weekend.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of
1995: this news release contains forward looking statements, including
statements regarding the restart of the nuclear plant in the near future. These
statements 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 various factors that could impact the
successful execution of the restart plan, such as the timing and nature of
actions by the NRC, potential new plant modifications not foreseen at this time
which extend the outage further 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, rail services and
life insurance.
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