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
Date of Report
(Date of earliest event reported): November 25, 1997
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Exact name of
Commission Registrant IRS Employer
File as specified State of Identification
Number in its charter Incorporation Number
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1-11439 ENOVA CORPORATION California 33-0643023
1-3779 SAN DIEGO GAS &
ELECTRIC COMPANY California 95-1184800
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101 ASH STREET, SAN DIEGO, CALIFORNIA 92101
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(Address of principal executive offices) (Zip Code)
(619) 696-2000
Registrant's telephone number, including area code--------------------
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(Former name or former address, if changed since last report.)
FORM 8-K
Item 5. Other Events
San Diego Gas & Electric (SDG&E), the principal subsidiary of Enova
Corporation, has announced that its board of directors has approved plans
to auction SDG&E's fossil power plants -- the South Bay plant in Chula
Vista, California and the Encina plant in Carlsbad, California -- and its
combustion turbines, as well as its 20-percent interest in the San Onofre
Nuclear Generating Station (SONGS) south of San Clemente, California, and
its portfolio of long-term power contracts. The plants (including SDG&E's
share in the case of SONGS), have a net book value of $900 million ($250
million for fossil and $650 million for SONGS) and a generating capacity
of 2,400 megawatts. The press release describing the announcement is
attached as Exhibit 99.1.
The decision will enable SDG&E to continue to concentrate its
business on the distribution and transmission of electricity and natural
gas, instead of electric generation, as California opens its electric
utility industry to competition in January 1998. Any proceeds from the
auction will be applied directly to SDG&E's transition costs. SDG&E plans
to file with the CPUC in December 1997 for its approval of the auction
plan. The sale of the plants and contracts is expected to be completed
by the end of 1998.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibits.
99.1 Press release dated November 25, 1997.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrants have duly caused this report to be signed on its behalf by
the undersigned thereunto duly authorized.
ENOVA CORPORATION
and
SAN DIEGO GAS & ELECTRIC COMPANY
(Registrants)
Date: November 26, 1997 By: /s/ F.H. Ault
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F.H. Ault
Vice President and Controller