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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
February 10, 1997 February 7, 1997
___________________________________________________
(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 2 Acquisition or Disposition of Assets
On February 7, 1997, the Boards of Directors of both Puget Sound Power &
Light Company and Washington Energy Company gave final approval to merge the
two companies on Monday, February 10.
The Board approvals followed the final regulatory approval of the merger. On
February 5, 1997, the Washington Utilities and Transportation Commission gave
their approval to merge the two companies' respective electric and gas
operations into a single energy company.
The new merged company, Puget Sound Energy, Inc., will begin operations as
the largest combined electric-and-gas utility in the Northwest. Puget Sound
Energy will serve more than 1.1 million customers - 860,000 electric and
500,000 gas accounts, with approximately 250,000 customers with both forms of
energy. The company's service territory will cover 11 counties, primarily in
western Washington state.
The company will have approximately $4.2 billion in combined assets and
approximately $1.6 billion in combined annual revenues.
Public trading in Puget Sound Energy common stock will begin on Tuesday,
February 11, under the New York Stock Exchange (NYSE) symbol, PSD.
The merger of Puget Sound Power & Light Company and Washington Energy Company
was first announced on October 18, 1995, and was approved by shareholders of
both companies on March 20, 1996.
Both Puget Sound Power & Light Company and Washington Energy Company have
previous 10-K and 10-Q reports on file with the Commission. Pro-forma
financial statements were filed as an exhibit to Puget Sound Power and Light
Company's Form 10-Q for the quarter ended September 30, 1997.
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: February 10, 1997 By James W. Eldredge
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James W. Eldredge
Corporate Secretary
and Controller
