8-K

                                  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 earliest event reported: December 17, 1998
Date of  report:                 January 5, 1999

Commission               Registrant, State of Incorporation,   I.R.S. Employer
File Number                Address and Telephone Number       Identification No.

1-1443                   Central and South West Corporation      51-0007707
                         (A Delaware Corporation)
                         1616 Woodall Rodgers Freeway
                         Dallas, Texas 75202-1234
                         (214) 777-1000

0-346                    Central Power and Light Company         74-0550600
                         (A Texas Corporation)
                         539 North Carancahua Street
                         Corpus Christi, Texas 78401-2802
                         (512) 881-5300

0-343                    Public Service Company of Oklahoma      73-0410895
                         (An Oklahoma Corporation)
                         212 East 6th Street
                         Tulsa, Oklahoma 74119-1212
                         (918) 599-2000

1-3146                   Southwestern Electric Power Company     72-0323455
                         (A Delaware Corporation)
                         428 Travis Street
                         Shreveport, Louisiana 71156-0001
                         (318) 222-2141

0-340                    West Texas Utilities Company            75-0646790
                         (A Texas Corporation)
                         301 Cypress Street
                         Abilene, Texas 79601-5820
                         (915) 674-7000






GLOSSARY OF TERMS
The following abbreviations or acronyms used in this text are defined below:

Abbreviation or Acronym                 Definition
AEP.....................................American Electric Power Company, Inc., 
                                        Columbus, Ohio
CSW.....................................Central and South West Corporation,
                                        Dallas, Texas
CSW System..............................CSW and its subsidiaries
SWEPCO..................................Southwestern Electric Power Company,
                                        Shreveport, Louisiana




















FORWARD-LOOKING INFORMATION
This report made by CSW and certain of its subsidiaries contains forward-looking
statements  within the meaning of Section 21E of the Exchange Act.  Although CSW
and certain of its  subsidiaries  believe that,  in making any such  statements,
their expectations are based on reasonable assumptions,  any such statements may
be  influenced  by factors  that could cause  actual  outcomes and results to be
materially  different from those projected.  Important  factors that could cause
actual results to differ materially from those in the forward-looking statements
include,  but are not limited to: the impact of general  economic changes in the
U.S. and in countries  in which CSW either  currently  has made or in the future
may make  investments;  the impact of deregulation on the U.S.  electric utility
business;  increased competition and electric utility industry  restructuring in
the U.S.;  the impact of the proposed  merger with AEP including any  regulatory
conditions  imposed on the merger,  the inability to consummate  the merger with
AEP,  or other  merger and  acquisition  activity  including  SWEPCO's  proposed
acquisition  of Cajun  Electric  Power  Cooperative,  Inc.;  federal  and  state
regulatory  developments and changes in law which may have a substantial adverse
impact on the value of CSW System  assets;  timing and  adequacy of rate relief;
adverse  changes in  electric  load and  customer  growth;  climatic  changes or
unexpected changes in weather patterns;  changing fuel prices,  generating plant
and distribution  facility  performance;  decommissioning  costs associated with
nuclear  generating  facilities;  costs  associated  with any year 2000  failure
either within the CSW System or supplier  failures that adversely affect the CSW
System;  uncertainties  in foreign  operations and foreign laws affecting  CSW's
investments in those countries; the effects of retail competition in the natural
gas and electricity  distribution  and supply  businesses in the United Kingdom;
and the timing and  success of  efforts to develop  domestic  and  international
power projects.  In the non-utility area, the previously mentioned factors would
apply  and  also  include,  but are not  limited  to:  the  ability  to  compete
effectively  in new areas,  including  telecommunications,  power  marketing and
brokering,  and other energy related  services,  as well as evolving federal and
state  regulatory  legislation  and  policies  that may  adversely  affect those
industries generally or the CSW System's business in areas in which it operates.








ITEM 5.  OTHER EVENTS
         On December  22,  1998,  CSW and AEP issued a news  release  related to
their proposed merger, which is attached as an exhibit.



ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(c)  Exhibits.

         Exhibit 99.1 CSW and AEP News Release dated December 22, 1998 regarding
         recent  developments in CSW and AEP's merger proceedings in Arkansas as
         well as the current status of other regulatory proceedings.







SIGNATURES

         Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended,  each registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.


                                    CENTRAL AND SOUTH WEST CORPORATION


Date:  January 5, 1999

                                    By:  /s/ Lawrence B. Connors      
                                             Lawrence B. Connors
                                     Controller and Chief Accounting Officer
                                           (Principal Accounting Officer)



                                    CENTRAL POWER AND LIGHT COMPANY
                                    PUBLIC SERVICE COMPANY OF OKLAHOMA
                                    SOUTHWESTERN ELECTRIC POWER COMPANY
                                    WEST TEXAS UTILITIES COMPANY


Date:  January 5, 1999

                                    By:  /s/ R. Russell Davis              
                                             R. Russell Davis
                                     Controller and Chief Accounting Officer
                                          (Principal Accounting Officer)

EX-99.1

                                                                    Exhibit 99.1


AEP                                                         CSW
   AMERICAN                                  ==================================
   ELECTRIC                                  CENTRAL AND SOUTH WEST CORPORATION
   POWER                                     ==================================



Contact for American Electric Power:         Contact for Central and South West:

Deb Strohmaier    614/223-1656               Larry Jones  214/777-1276



For Immediate Release:


           Arkansas Public Service Commission Approves Regulatory Plan
      On Merger Between American Electric Power and Central and South West

Columbus,  Ohio, and Dallas, Texas (Dec. 22, 1998) - The Arkansas Public Service
Commission  (APSC)  on Dec.  17  issued a final  order  granting  approval  of a
stipulated  agreement related to the proposed merger regulatory plan of American
Electric Power  Company,  Inc.  ("AEP")  [NYSE:  AEP] and Central and South West
Corporation  ("CSW")  [NYSE:  CSR].  CSW is the parent  company of  Southwestern
Electric Power Company (SWEPCO) SWEPCO serves portions of East Texas,  Northwest
Louisiana and West  Arkansas,  including  Fayetteville,  Booneville,  Rogers and
Eureka Springs.

Arkansas is the first state  jurisdiction to approve the proposed merger between
AEP and CSW. The APSC in August  approved the merger  between the two companies,
subject to any findings issued during the review of the proposed regulatory plan
for sharing of merger benefits in Arkansas.

The Arkansas  regulatory  plan is the result of a settlement  between the merger
applicants  and the  APSC  general  staff.  In  November,  AEP,  CSW and  SWEPCO
announced a settlement with the APSC general staff on the merger regulatory plan
related to the proposed merger.  The settlement calls for SWEPCO to reduce rates
through a net merger savings rider for its Arkansas retail  customers by amounts
totaling approximately $6 million over the five-year period following completion
of the merger. The parties filed the settlement with the APSC on Nov. 3.

The APSC  order  notes  the  possibility  of  decisions  in other  jurisdictions
adversely affecting  provisions of the Arkansas  settlement.  Consequently,  the
APSC approval is conditioned on its  consideration  of approval of the merger at
other state and federal regulatory bodies.

Richard E. Munczinski,  senior vice president - corporate planning and budgeting
for AEP,  noted that he was  "pleased  that we were able to reach  agreement  in
Arkansas so that  SWEPCO's  customers  can enjoy the  benefits  of the  merger."
Munczinski  said  AEP and CSW  will  continue  settlement  discussions  with the
Federal Energy Regulatory Commission, other regulatory bodies and intervenors in
the  various  merger  proceedings.   The  two  companies  already  have  reached
settlements with several groups in Texas and the Nuclear  Regulatory  Commission
has approved the license transfer  application  filed by CSW's Central Power and
Light Company subsidiary regarding the South Texas Project nuclear power plant.

"We have now received two approvals related to our merger," Munczinski said. "We
continue to be encouraged by the positive  progress we have been able to make in
the state of Texas. We are also pleased with the cooperation we have received in
other jurisdictions to assure that the merger is considered expeditiously."

In  Texas,  the  companies'  settlement-in-principle  with the  Office of Public
Utility  Counsel and the  Steering  Committee  of the cities of McAllen,  Corpus
Christi,  Victoria,  Abilene,  Big Lake,  Vernon  and  Paducah  would  result in
combined rate  reductions  totaling  approximately  $180 million over a six-year
period  following  completion of the merger for Texas customers of the three CSW
Texas  electric  operating  companies.  If approved by the city councils and the
Public Utility  Commission of Texas,  the settlement  will resolve all issues of
the signing parties.

"We expect to  continue  to make  progress  in the  remaining  federal and state
filings," Munczinski added.

The  companies   announced  a  definitive   merger  agreement  for  a  tax-free,
stock-for-stock transaction on Dec. 22, 1997. AEP and CSW jointly filed with the
FERC on April 30, 1998 for approval of their proposed merger. The companies also
have filed  applications  seeking  approval of the merger with the  Arkansas and
Texas commissions, as well as the Oklahoma Corporation Commission, the Louisiana
Public  Service  Commission,  the Federal Energy  Regulatory  Commission and the
Securities  and Exchange  Commission.  The companies  plan to make the final two
filings  associated with approval of the merger with the Federal  Communications
Commission and the Department of Justice in the near future.

Central and South West  Corporation  is a Dallas-based  public  utility  holding
company  that owns four U.S.  electric  utility  subsidiaries  with 1.7  million
customers,  a regional  electricity  company serving 2 million  customers in the
United  Kingdom,   and  nonutility   subsidiaries   involved  in  energy-related
investments  as well  as  subsidiaries  that  offer  telecommunications,  energy
efficiency and financial transactions.

American  Electric Power Company,  Inc., a global energy company,  is one of the
United States' largest investor-owned  utilities,  providing energy to 3 million
customers in Indiana,  Kentucky,  Michigan,  Ohio, Tennessee,  Virginia and West
Virginia.  AEP has holdings in the United States, the United Kingdom,  China and
Australia.  AEP's wholly owned subsidiaries  provide power  engineering,  energy
consulting and energy management services around the world. The company is based
in Columbus, Ohio.

                                       ###

News releases and other information about AEP can be found on the World Wide Web
at http://www.aep.com.


News releases and other information about CSW can be found on the World Wide Web
at http://www.csw.com.