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 April 14, 2004
(Date of earliest event reported)
MidAmerican Energy Holdings Company
(Exact name of registrant as specified in its charter)
Iowa 0-25551 94-2213782
---- ------- ----------
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
666 Grand Avenue, Des Moines, Iowa 50309
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (515) 242-4300
--------------
N/A
(Former name or former address, if changed since last report)
ITEM 5. OTHER EVENTS.
MidAmerican Energy Holdings Company ("MidAmerican") reported today that
its subsidiary, CE Casecnan Water and Energy Company, Inc. ("CE Casecnan"), and
CP Casecnan-Consortium, a limited liability consortium, Cooperativa Muratori e
Cementisti-CMC. di Ravenna and Impresa Pizzarotti & C. S.p.A (collectively, the
"Contractor") have entered into an agreement, dated April 7, 2004, settling all
claims and counterclaims between the parties in the International Chamber of
Commerce arbitration case initiated by the Contractor in February 2001 seeking
schedule relief and compensation for additional costs and damages arising out of
an engineering, procurement and construction contract between CE Casecnan and
the Contractor for the Casecnan irrigation and hydroelectric project in the
Philippines. Pursuant to the terms of the settlement, today the Contractor paid
to CE Casecnan $18.9 million (which payment is in addition to approximately $6.0
million previously received by CE Casecnan from demands made on bank guarantees
which had been posted as security under the construction contract) and the
parties have executed mutual releases and agreed to dismiss the arbitration
case.
FORWARD-LOOKING STATEMENTS
This report contains statements that do not directly or exclusively
relate to historical facts. These statements are "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements can typically be identified by the use of
forward-looking words, such as "may," "will," "could," "project," "believe,"
"anticipate," "expect," "estimate," "continue," "potential," "plan," "forecast"
and similar terms. These statements represent MidAmerican's intentions, plans,
expectations and beliefs and are subject to risks, uncertainties and other
factors. Many of these factors are outside MidAmerican's control and could cause
actual results to differ materially from such forward-looking statements.
These factors include, among others, general economic and business
conditions in the jurisdictions in which MidAmerican's facilities are located;
governmental, statutory, regulatory or administrative initiatives or ratemaking
actions affecting MidAmerican or the electric or gas utility, pipeline or power
generation industries; weather effects on sales and revenues; general industry
trends; increased competition in the power generation, electric utility or
pipeline industries; fuel and power costs and availability; continued
availability of accessible gas reserves; changes in business strategy,
development plans or customer or vendor relationships; availability, term and
deployment of capital; availability of qualified personnel; risks relating to
nuclear generation; financial or regulatory accounting principles or policies
imposed by the Public Company Accounting Oversight Board, the Financial
Accounting Standards Board, the SEC, the Federal Energy Regulatory Commission
and similar entities with regulatory oversight; and other business or investment
considerations that may be disclosed from time to time in MidAmerican's SEC
filings or in other publicly disseminated written documents.
MidAmerican undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information, future
events or otherwise. The foregoing review of factors should not be construed as
exclusive.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
None
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.
MIDAMERICAN ENERGY HOLDINGS COMPANY
Date: April 14, 2004 /s/ Paul J. Leighton
----------------------------------------
Paul J. Leighton
Vice President, Assistant General
Counsel and Assistant Secretary