UNITED STATES
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
July 16, 2004
Date of Report (Date of earliest event reported)
| | Exact Name of Registrant as | |
| | Specified in Charter, State of | |
| | Incorporation, Address of | |
Commission | Principal Executive | IRS Employer |
File Number | Office and Telephone Number | Identification Number |
1-5540 | PEOPLES ENERGY CORPORATION | 36-2642766 |
2-26983 | THE PEOPLES GAS LIGHT AND COKE COMPANY | 36-1613900 |
2-35965 | NORTH SHORE GAS COMPANY | 36-1558720 |
| | | |
| | (Illinois Corporations) | |
| | 130 East Randolph Drive, 24th Floor | |
| | Chicago, Illinois 60601-6207 | |
| | Telephone (312) 240-4000 | |
| | | |
None
(Former name or former address, if changed since last report)
This combined Form 8-K is separately filed by Peoples Energy Corporation, The Peoples Gas Light and Coke Company, and North Shore Gas Company. Information contained herein relating to any individual company is filed by such company on its own behalf. Each company makes no representation as to information relating to the other companies.
Item 5 - Other Events and Item 9 - Regulation FD Disclosure
Peoples Energy Corporation (Peoples Energy) announced to employees today that, as a second step to its previously announced strategic restructuring plans, it is offering an enhanced severance package to non-union employees of Peoples Energy, The Peoples Gas Light and Coke Company, North Shore Gas Company, and employees of its diversified power generation and midstream services business who elect a voluntary resignation of employment. The enhanced severance offer can be accepted by employees from the Vice President level and below by August 30. The cost of this program will be expensed in the fourth quarter of fiscal 2004. At this time, Peoples Energy cannot determine whether any involuntary job eliminations will result from its restructuring efforts.
Forward-Looking Information. This Current Report on Form 8-K contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Generally, the words "may", "could", "project", "believe", "anticipate", "estimate", "plan", "forecast", "will be", and similar words identify forward-looking statements. Actual results could differ materially from such expectations because of many uncertainties, including, but not limited to: adverse decisions in proceedings before the Illinois Commerce Commission concerning the prudence review of the utility subsidiaries' gas purchases; the future health of the United States and Illinois economies; the timing and extent of changes in interest rates and energy commodity prices, including but not limited to the effect of gas prices on cost of gas supplies, accounts receivable and t he provision for uncollectible accounts, interest expense and earnings from the oil and gas production segment; adverse resolution of material litigation; the effectiveness of the Company's risk management policies and the creditworthiness of customers and counterparties; regulatory developments in the United States, Illinois and other states where the Company does business; changes in the nature of the Company's competition resulting from industry consolidation, legislative change, regulatory change and other factors, as well as action taken by particular competitors; the Company's success in identifying diversified business segment projects on financially acceptable terms and generating earnings from projects in a reasonable time; operational factors affecting the Company's gas distribution, power generation and oil and gas production segments; Aquila Inc.'s financial ability to perform under its power sales agreements with Elwood Energy LLC; drilling risks and the inherent uncertainty of oil and gas reser ve estimates; weather related energy demand; and terrorist activities. Some of the uncertainties that may affect future results are discussed in more detail in Peoples Energy's most recent Form 10-K filed with the SEC under Item 1 - Business and Item 7 - Management's Discussion and Analysis, as such information may be updated by subsequent filings under the Securities Exchange Act of 1934. All forward-looking statements included in this Current Report on Form 8-K are based upon information presently available, and Peoples Energy assumes no obligation to update any forward-looking statements.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, each of the registrants has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| | PEOPLES ENERGY CORPORATION |
| | (Registrant) |
| | |
| | |
July 16, 2004 | By: /s/ THOMAS A. NARDI |
(Date) | Thomas A. Nardi |
| | Senior Vice President
and Chief Financial Officer |
| | THE PEOPLES GAS LIGHT AND COKE COMPANY |
| | (Registrant) |
| | |
| | |
July 16, 2004 | By: /s/ THOMAS A. NARDI |
(Date) | Thomas A. Nardi |
| | Senior Vice President
and Chief Financial Officer |
| | NORTH SHORE GAS COMPANY |
| | (Registrant) |
| | |
| | |
July 16, 2004 | By: /s/ THOMAS A. NARDI |
(Date) | Thomas A. Nardi |
| | Senior Vice President
and Chief Financial Officer |
