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): March 26, 1998
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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)
Registrants' telephone number, including area code (619) 696-2000
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(Former name or former address, if changed since last report.)
FORM 8-K
Item 5. Other Events
On March 26, 1998 the California Public Utilities Commission (CPUC)
approved the merger between Enova Corporation and Pacific Enterprises. In
approving the merger, the CPUC found that the combination will benefit the
state and local economies and customers, maintain or improve the financial
condition of the utilities and quality of management, and be fair to
employees and shareholders. The decision calls for sharing of net merger
synergy savings between customers and shareholders for a 5-year period,
leaving the proper treatment of savings after five years to a future
commission, rather than resolving the sharing for the initial 10-year
period as requested by Enova and Pacific Enterprises. In addition, the
decision requires, among other things, the divestiture by San Diego Gas &
Electric, a subsidiary of Enova, of its gas-fired generation units (already
in progress) and sale by Southern California Gas Company, a subsidiary of
Pacific Enterprises, of its options to purchase those portions of the Kern
River and Mojave Pipeline gas-transmission facilities within California by
September 1, 1998. Both Enova and Pacific Enterprises have completed a
thorough review of the decision and will proceed as planned with the
merger. Final regulatory approvals still must come from the Federal Energy
Regulatory Commission and the Securities and Exchange Commission.
Item 7. Financial Statements and Exhibits
(c) Exhibits
99.1 Joint Enova Corporation - Pacific Enterprises News Release concerning
the approval of the Enova - Pacific Enterprises merger by the California
Public Utilities Commission.
99.2 Joint Enova Corporation - Pacific Enterprises News Release concerning
the companies' joint statement on the CPUC's merger decision.
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
(Registrant)
Date: March 27, 1998 By: /s/ F.H. Ault
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F.H. Ault
Vice President and Controller
and
SAN DIEGO GAS & ELECTRIC COMPANY
(Registrant)
Date: March 27, 1998 By: /s/ F.H. Ault
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F.H. Ault
Vice President, Chief Financial
Officer, Controller and Treasurer