Exhibit 1

FOR IMMEDIATE RELEASE
For more information, contact:
Vince Signorotti                                                  (760) 351-3050

                   CalEnergy Receives Back Payment from Edison
                For Power from Imperial County Geothermal Plants

         BRAWLEY, Calif. - March 1, 2002 -- CalEnergy Operating Corporation
today received back payments from Southern California Edison for power CalEnergy
produced during the state's energy crisis last year.

         David L. Sokol, chairman of MidAmerican Energy Holdings Company, an
affiliate of CalEnergy, said, "We are gratified that this difficult issue is
finally resolved for ourselves and the other providers of renewable energy in
California. We are also pleased because with this payment, we are able to make
royalty payments to our local landowners and pay vendors, who were also waiting
to be compensated while Edison was withholding this revenue from us."

         Eight geothermal plants CalEnergy operates in Imperial County are under
long-term contract to sell their output to Edison. From November 2000 until late
March 2001, Edison did not make any payments for the geothermal energy CalEnergy
was providing under contract for the utility's California customers. Despite the
non-payment, CalEnergy and most other renewable generators continued to provide
power to Edison. This helped to stabilize California's energy supply at a time
of high natural gas prices and rolling blackouts.

         In June, Edison reached a written agreement with CalEnergy and other
alternative energy generators in which it agreed to pay for energy going
forward. Edison also agreed to make immediate partial payments on past-due
amounts.

         "This is good news not only for us and our employees, but also for
Imperial County and the future of clean, renewable energy in California," Sokol
said. "We thank the community for its support and patience throughout this
situation."

         CalEnergy is the largest taxpayer in Imperial County. With
approximately 235 employees, it also is one of the county's largest private
employers.

         CalEnergy petitioned the Imperial County Superior Court three times
during Edison's period of non-payment -- first to be able to sell its power
elsewhere because Edison had failed to pay, then to enforce the agreement for
back payments, and finally to collect so-called "capacity bonus payments," one
of three payment calculations specified in the companies' contract. The capacity
bonus payment issue remains pending in the court and is unaffected by the
payment.