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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 (Date of earliest event reported): December 17, 1998
Commission Registrant, State of Incorporation, IRS Employer
File Number Address, and Telephone Number Identification No.
- ----------- ----------------------------------- ------------------
1-10568 LG&E ENERGY CORP. 61-1174555
(A Kentucky Corporation)
220 West Main Street
P.O. Box 32030
Louisville, Ky. 40232
(502) 627-2000
2-26720 LOUISVILLE GAS AND ELECTRIC COMPANY 61-0264150
(A Kentucky Corporation)
220 West Main Street
P.O. Box 32010
Louisville, Ky. 40232
(502) 627-2000
1-3464 KENTUCKY UTILITIES COMPANY 61-0247570
(A Kentucky and Virginia Corporation)
One Quality Street
Lexington, Kentucky 40507-1428
(606) 255-2100
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ITEM 5. OTHER EVENTS
On December 18, 1998, LG&E Energy Corp. noted the recent decision of the
Kentucky Supreme Court regarding the environmental cost recovery mechanism
allowing its subsidiaries, Kentucky Utilities Company and Louisville Gas and
Electric Company, to recover certain costs associated with environmental
compliance and requiring certain refunds.
A news release of LG&E Energy describing the above matter is filed with this
report as Exhibit 99.01 and is incorporated herein by reference.
ITEM 7(c). EXHIBITS FILED
99.01 News Release dated December 18, 1998
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.
LG&E ENERGY CORP.
Dated: December 21, 1998 BY: /s/ John R. McCall
---------------------------------
Executive Vice President,
General Counsel and
Corporate Secretary
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.
LOUISVILLE GAS AND ELECTRIC COMPANY
Dated: December 21, 1998 BY: /s/ John R. McCall
----------------------------------
Executive Vice President,
General Counsel and
Corporate Secretary
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.
KENTUCKY UTILITIES COMPANY
Dated: December 21, 1998 BY: /s/ John R. McCall
----------------------------------
Executive Vice President,
General Counsel and
Corporate Secretary
2
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EXHIBIT INDEX
LG&E ENERGY CORP.
LOUISVILLE GAS AND ELECTRIC COMPANY
KENTUCKY UTILITIES COMPANY
Current Report on Form 8-K
Dated December 17, 1998
EXHIBITS
EXHIBIT NO. DESCRIPTION
- ----------- -----------
99.01 News Release dated December 18, 1998
3
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For More Information: Grant Ringel, LG&E Energy
(502) 627-2877
KENTUCKY SUPREME COURT UPHOLDS ENVIRONMENTAL COST RECOVERY MECHANISM
RULES OUT RECOVERY OF EXPENSES INCURRED BEFORE 1993
(Louisville, Ky -- December 18, 1998) LG&E Energy Corp. (NYSE-LGE) announced
today that the Kentucky Supreme Court Thursday affirmed the constitutionality
of the Environmental Cost Recovery (ECR) mechanism that allows Kentucky
Utilities Company (KU) and Louisville Gas and Electric Company (LG&E) to
recover the costs associated with environmental compliance. The bulk of the
amount recovered by KU through the ECR has been approved by the decision.
However, the court reversed a Court of Appeals ruling and denied recovery of
environmental costs for projects completed prior to January 1, 1993, when the
ECR went into effect.
The court remanded the case back to the Kentucky Public Service
Commission (KPSC) to determine the proper adjustments necessary to refund the
money collected for the pre-1993 environmental projects. While the case
dealt specifically with the ECR rate mechanism of KU, the ruling may also
affect the ECR amounts recovered by LG&E. LG&E Energy presently estimates
the refund associated with these costs could be between $15-$22 million for
KU and between $0-$5 million for LG&E.
The Company continues to examine the court's ruling and the size and
timing of any eventual refunds will depend upon calculations mandated by the
KPSC for implementing such refunds.
The company is considering filing a motion for reconsideration of the
matter with the Kentucky Supreme Court.
LG&E and KU are both wholly-owned subsidiaries of LG&E Energy Corp.
(MORE)
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DECISION - ADD ONE
DECEMBER 18, 1998
LG&E Energy Corp., headquartered in Louisville, Ky. is a diversified
energy services company with businesses in power generation and project
development; retail gas and electric utility services; and asset-based energy
marketing. The company owns and operates Louisville Gas and Electric Company,
a regulated electric and gas utility serving Louisville, Ky. and 16
surrounding counties, and Kentucky Utilities Company, a regulated electric
utility, based in Lexington, Ky., which serves 77 Kentucky counties and five
counties in Virginia. LG&E Energy also owns equity in and operates power
plants in seven states as well as in Spain, and owns interests in two natural
gas distribution companies in Argentina.
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