SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D. C. 20549
Current Report On
FORM 8-K
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported):
DECEMBER 21, 2000
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Commission Registrant; State of Incorporation IRS Employer
File Number Address; and Telephone Number Identification No.
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001-09057 WISCONSIN ENERGY CORPORATION 39-1391525
(A Wisconsin Corporation)
231 West Michigan Street
P.O. Box 2949
Milwaukee, WI 53201
(414) 221-2345
FORM 8-K
WISCONSIN ENERGY CORPORATION
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ITEM 5. OTHER EVENTS
On December 21, 2000, Wisvest-Connecticut, LLC, a wholly-owned
subsidiary of Wisvest Corporation which in turn is a wholly-owned non-
utility energy subsidiary of Wisconsin Energy Corporation, agreed to sell
its two fossil-fueled generating stations in the state of Connecticut to
NRG Energy, Inc., an independent power producer based in Minneapolis,
Minnesota. The plants and associated assets include the Bridgeport Harbor
Station, which has an active generating capacity of 585 megawatts, and the
New Haven Harbor Station, which has an active generating capacity of
466 megawatts.
Subject to various regulatory approvals and certain other conditions,
the transaction is expected to close during the second quarter of 2001.
Wisvest-Connecticut, LLC expects to receive gross proceeds from the sale of
approximately $350 million, including amounts for inventory, and to realize
a gain. Wisconsin Energy Corporation plans to use the proceeds to reduce
debt.
Forward-Looking Statements
The above disclosures concerning Wisvest-Connecticut, LLC's
anticipated sale of its two fossil-fueled generating stations are forward-
looking statements within the meaning of the Private Securities Litigation
Reform Act of 1995. As such, these forward-looking statements are subject
to various risks and uncertainties. Actual results may vary materially.
Factors that could cause actual results to differ materially include, but
are not limited to, the failure to obtain necessary regulatory approvals;
failure of either the seller or the buyer to meet other closing conditions
of the transaction; other cautionary factors described in the Management's
Discussion and Analysis of Financial Condition and Results of Operations in
Wisconsin Energy Corporation's Quarterly Report on Form 10-Q for the period
ended September 30, 2000; and other factors described from time to time in
Wisconsin Energy Corporation's reports to the Securities and Exchange
Commission.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits:
See Exhibit Index following the Signature page of this report, which
is incorporated herein by reference.
FORM 8-K
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 thereunto duly authorized.
WISCONSIN ENERGY CORPORATION
(Registrant)
/s/ Paul Donovan
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Date: December 27, 2000 Paul Donovan, Senior Vice President
and Chief Financial Officer
WISCONSIN ENERGY CORPORATION
(Commission File No. 001-09057)
EXHIBIT INDEX
to
CURRENT REPORT ON FORM 8-K
Date of Report: December 21, 2000
The following Exhibit is filed with this Current Report on Form 8-K:
Exhibit No.
99.1 Wisconsin Energy Corporation news release dated December 27, 2000
announcing the agreement to sell Wisvest-Connecticut, LLC's two
fossil-fueled power plants in the state of Connecticut to NRG
Energy, Inc.
