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
Date of
Report (Date of earliest event reported) May 27, 2005
|
Commission |
Registrant;
State of Incorporation; |
I.R.S.
Employer |
|
File
Number |
Address;
and Telephone Number |
Identification
No. |
| |
|
|
|
333-21011 |
FIRSTENERGY
CORP. |
34-1843785 |
| |
(An
Ohio Corporation) |
|
| |
76
South Main Street |
|
| |
Akron,
OH 44308 |
|
| |
Telephone
(800)736-3402 |
|
| |
|
|
|
1-2578 |
OHIO
EDISON COMPANY |
34-0437786 |
| |
(An
Ohio Corporation) |
|
| |
c/o
FirstEnergy Corp. |
|
| |
76
South Main Street |
|
| |
Akron,
OH 44308 |
|
| |
Telephone
(800)736-3402 |
|
| |
|
|
|
1-2323 |
THE
CLEVELAND ELECTRIC ILLUMINATING COMPANY |
34-0150020 |
| |
(An
Ohio Corporation) |
|
| |
c/o
FirstEnergy Corp. |
|
| |
76
South Main Street |
|
| |
Akron,
OH 44308 |
|
| |
Telephone
(800)736-3402 |
|
| |
|
|
|
1-3583 |
THE
TOLEDO EDISON COMPANY |
34-4375005 |
| |
(An
Ohio Corporation) |
|
| |
c/o
FirstEnergy Corp. |
|
| |
76
South Main Street |
|
| |
Akron,
OH 44308 |
|
| |
Telephone
(800)736-3402 |
|
| |
|
|
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (see General Instruction A.2. below):
[ ] Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ]
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act
(17 CFR 240.14d-2(b))
[ ]
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act
(17 CFR 240.13e-4(c))
Item 7.01
Regulation FD Disclosure
On May 27,
2005, Ohio Edison Company, The Cleveland Electric Illuminating Company and The
Toledo Edison Company (Companies), wholly owned subsidiaries of FirstEnergy
Corp., filed with the Public Utilities Commission of Ohio (PUCO) a request
(Application) to establish a generation rate adjustment rider. The Application
seeks to implement recovery of increased fuel costs applicable to the Companies'
retail customers through a tariff rider to be implemented January 1, 2006.
The Application reflects projected increases in fuel costs in 2006 compared to
2002 baseline costs. Under the Rate Stabilization Plan approved by the PUCO in
August 2004, the Companies are allowed to request recovery of increased fuel and
related costs.
FirstEnergy issued
a press release and Letter to the Investment Community that provide additional
related details. The press release and Letter to the Investment Community are
furnished, not filed, as Exhibits 99.1 and 99.2, respectively, and incorporated
by reference.
Item 9.01
Financial Statements and Exhibits
(c)
Exhibits.
|
Exhibit
No. |
Description |
|
99.1 |
Press release
issued by FirstEnergy Corp., dated May 27, 2005 |
|
99.2 |
Letter to the
Investment Community, dated May 27, 2005 |
Forward-Looking
Statements: This Form 8-K
includes forward-looking statements based on information currently available to
management. Such statements are subject to certain risks and uncertainties.
These statements typically contain, but are not limited to, the terms
"anticipate," "potential," "expect," "believe," "estimate" and similar words.
Actual results may differ materially due to the speed and nature of increased
competition and deregulation in the electric utility industry, economic or
weather conditions affecting future sales and margins, changes in markets for
energy services, changing energy and commodity market prices, replacement power
costs being higher than anticipated or inadequately hedged, the continued
ability of our regulated utilities to collect transition and other charges,
maintenance costs being higher than anticipated, legislative and regulatory
changes (including revised environmental requirements), the receipt of approval
from and entry of a final order by the U.S. District Court, Southern District of
Ohio on the pending settlement agreement resolving the New Source Review
litigation and the uncertainty of the timing and amounts of the capital
expenditures (including that such amounts could be higher than anticipated) or
levels of emission reductions related to this settlement, adverse regulatory or
legal decisions and outcomes (including revocation of necessary licenses or
operating permits, fines or other enforcement actions and remedies) of
governmental investigations and oversight, including by the Securities and
Exchange Commission, the United States Attorney's Office and the Nuclear
Regulatory Commission as disclosed in the registrants' Securities and Exchange
Commission filings, generally, and with respect to the Davis-Besse Nuclear Power
Station outage and heightened scrutiny at the Perry Nuclear Power Plant in
particular, the availability and cost of capital, the continuing availability
and operation of generating units, the inability to accomplish or realize
anticipated benefits from strategic goals (including the proposed transfer of
generation assets), the ability to improve electric commodity margins and to
experience growth in the distribution business, the ability to access the public
securities and other capital markets, further investigation into the causes of
the August 14, 2003, regional power outage and the outcome, cost and other
effects of present and potential legal and administrative proceedings and claims
related to the outage, the final outcome in the proceeding related to
FirstEnergy's Application for a Rate Stabilization Plan in Ohio, the risks and
other factors discussed from time to time in the registrants' Securities and
Exchange Commission filings, and other similar factors. The registrants
expressly disclaim any current intention to update any forward-looking
statements contained herein as a result of new information, future events, or
otherwise.
SIGNATURE
Pursuant to the
requirements of the Securities Exchange Act of 1934, each Registrant has duly
caused this report to be signed on its behalf by the undersigned thereunto duly
authorized.
May 27,
2005
| |
FIRSTENERGY
CORP. |
| |
Registrant |
| |
|
| |
OHIO
EDISON COMPANY |
| |
Registrant |
| |
|
| |
THE
CLEVELAND ELECTRIC |
| |
ILLUMINATING
COMPANY |
| |
Registrant |
| |
|
| |
THE
TOLEDO EDISON COMPANY |
| |
Registrant |
| |
|
| |
|
|
| |
|
|
|
|
|
|
/s/
Harvey L. Wagner |
| |
Harvey L. Wagner |
| |
Vice President, Controller and
Chief Accounting
Officer |