CALIFORNIA ENERGY CO INC
8-K, 1995-06-29
STEAM & AIR-CONDITIONING SUPPLY
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               Securities and Exchange Commission

                      Washington, DC  20549

                            Form 8-K

                         Current Report

             Pursuant to Section 13 to 15(d) of the
                  Securities Exchange Act 1934


                  Date of Report June 26, 1995
                (Date of earliest event reported)



                 California Energy Company, Inc.
     (Exact name of registrant as specified in its charter)



    Delaware                  1-9874               94-2213782   
(State of other       (Commission File       (IRS Employer
 jurisdiction of       Number)                Identification No.)
 incorporation)



 302 South 36th Street, Suite 400,       Omaha, NE        68131 
(Address of principal executive offices)                 Zip Code




Registrant's Telephone Number, including area code:(402) 341-4500





                               N/A                               



Item 5.  Other Events

     On June 26, 1995, the Registrant announced a planned
offering of $200,000,000 of its Limited Recourse Senior Secured
Notes Due 2003 as part of a refinancing of certain indebtedness
incurred in connection with CE's acquisition of Magma Power
Company in February 1995.  An S-3 Registration Statement for the
planned offering has been filed with the Securities and Exchange
Commission.  A copy of the press release issued by the Registrant
is set forth as Exhibit 1 hereto and is incorporated herein by
reference.

Item 7.  Financial Statements and Exhibits
 
Exhibit 1 - Press Release dated June 26, 1995.



   
                            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 hereunto duly authorized.

                              California Energy Company, Inc.



                                                                 
                              By: \s\ Douglas L. Anderson        
                                    Douglas L. Anderson
                                    Assistant Secretary



Dated: June 29, 1995

FOR IMMEDIATE RELEASE                                                Exhibit 1

David L. Sokol - Chairman and Chief Executive Officer           (402) 341-4500
John G. Sylvia - Senior Vice President and Chief Financial Officer(402) 341-4500
Dale R. Schuster - Vice President, Administration               (402) 341-4500

              CALIFORNIA ENERGY FILES REGISTRATION STATEMENT FOR
        $200,000,000 OF LIMITED RECOURSE SENIOR SECURED NOTES DUE 2003

      OMAHA, NEBRASKA, June 26, 1995 -- California Energy Company, Inc. (NYSE,
PSE and LSE symbol: CE) announced today the filing with the Securities and
Exchange Commission of an S-3 Registration Statement for the planned offering of
$200,000,000 principal amount of its Limited Recourse Senior Secured Notes Due
2003.

      The Note Offering is part of a refinancing of certain non-recourse
indebtedness CE incurred in connection with CE's acquisition of Magma Power
Company in February 1995.

      CS First Boston is acting as underwriter for the offering of CE's Limited
Recourse Senior Secured Notes.

      A registration statement relating to CE's Limited Recourse Senior Secured
Notes has been filed with the Securities and Exchange Commission but has not yet
become effective.  These securities may not be sold nor may offers to buy be
accepted prior to the time the registration statement becomes effective.  This
press release shall not constitute an offer to sell, or the solicitation of an
offer to buy, nor shall there be any sale of these securities in any State in
which such offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such State.

      California Energy Company, Inc., the largest independent geothermal power
producer in the world, is an international developer, owner and operator of
environmentally responsible power generation facilities.  Its thirteen operating
facilities produce over 575 MW of power, with over 540 MW under construction and
in excess of 1,500 MW currently under award or contract.

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