<PAGE> 1
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: April 20, 1995
LONG ISLAND LIGHTING COMPANY
(Exact name of registrant as specified in charter)
New York 1-3571 11-1019782
(State of Incorporation) (Commission File No.) (I.R.S. Employer
Identification No.)
175 East Old Country Road, Hicksville, New York 11801
516-755-6650
(Address and telephone number of Principal Executive Offices)
<PAGE> 2
Item 1. Changes in Control of Registrant
Not applicable.
Item 2. Acquisition or Disposition of Assets
Not applicable.
Item 3. Bankruptcy or Receivership
Not applicable.
Item 4. Changes in Registrant's Certifying Accountant
Not applicable.
Item 5. Other Information
On April 7, 1995, the Public Service Commission of the State of
New York (the "PSC") issued an order with respect to the Company's three-year
electric rate plan filed in December 1993. The PSC's order provided, among other
things: that the Company's current electric rates shall remain in effect for the
first rate year of the plan that began on December 1, 1994; that the Company's
expenditures for certain PSC mandated activities, such as energy conservation
and research and development, shall be reduced; and that the rate proceeding
shall be continued to determine the level of rates for the second and third
years of the plan.
The PSC stated that its decision to continue the rate
proceeding reaffirms its commitment to allow the Company to recover its
Shoreham-related assets, which the PSC also stated is a crucial factor in the
Company's ability to maintain its investment grade bond rating and to secure
reasonably priced capital. The continuation of the rate proceeding would also
enable the PSC to consider the Company's operations and its opportunities for
greater efficiency over the next several years. Toward this end, the PSC
encouraged the parties to negotiate a multi-year electric rate settlement, with
the goal being to stabilize and possibly reduce rates in a manner consistent
with the full recovery of the Shoreham-related assets. The PSC is expected to
provide the Company with a detailed opinion supporting its order shortly.
Item 6. Resignations of Registrant's Directors
Not applicable.
- 2 -
<PAGE> 3
Item 7. Financial Statements, Pro Forma Financial
Information and Exhibits
Not applicable.
Item 8. Change in Fiscal Year
Not applicable.
- 3 -
<PAGE> 4
SIGNATURE
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 thereunto duly authorized.
LONG ISLAND LIGHTING COMPANY
Registrant
By THEODORE A. BABCOCK
---------------------------------
THEODORE A. BABCOCK
Treasurer
Dated: April 20, 1995
- 4 -
