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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
June 3, 1994 June 3, 1994
____________________________________________________
(Date of earliest
event reported)
PUGET SOUND POWER & LIGHT COMPANY
(Exact name of registrant as specified in its charter)
Washington 1-4393 91-0374630
(State or other (Commission (I.R.S. Employer
jurisdiction of File Number) Identification
incorporation) Number)
411 108th Avenue N.E., Bellevue, Washington 98004-5515
(Address of principal executive offices, zip code)
Registrant's telephone number, including area code:
206/454-6363
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ITEM 5 OTHER EVENTS
On September 21, 1993, the Washington Utilities and Transportation Commission
("Commission") issued a general rate order requiring the Company to file a
case ("Prudency Case") demonstrating the prudence of eight purchase power
contracts added by the Company since its last general rate case. Pending the
outcome of this prudence review, the Company is currently collecting, between
October 1, 1993, and September 30, 1994, approximately $86.1 million that the
Commission estimated could be subject to refund.
On May 4, 1994, the Commission Staff pre-filed testimony in the Prudency
Case. The Commission Staff's testimony recommended that beginning October 1,
1994, the Company's rates be reduced by $22.6 million, and that the Company
be directed to refund $12.8 million, which Commission Staff estimated the
Company will have collected through September 30, 1994, on three of the
purchased power contracts.
On June 3, 1994, which was the last business day before the Company was
scheduled to cross-examine the Commission Staff on its pre-filed testimony,
the Staff filed revised testimony reducing its recommended disallowance.
Commission Staff's revised testimony now recommends that beginning October 1,
1994, the Company's rates be reduced by $9.9 million and that the Company be
directed to refund $3.7 million.
Because of the extreme lateness of the revised testimony, the Company
requested on June 3, 1994, and the Commission granted, a continuance of cross-
examination which is now scheduled to begin August 1, 1994. The Commission
is still expected to issue its decision in September, to be effective as of
October 1, 1994.
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.
PUGET SOUND POWER & LIGHT COMPANY
Date: June 3, 1994 By William S. Weaver
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William S. Weaver
Executive Vice President and
Chief Financial Officer
(Principal financial officer and officer duly authorized
to sign this report on behalf of the registrant)
