-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, GOBC1NSlIKxkTujPfMx/v83WNO2YsPsuEMuursYM5aZg+PRn3Yq9iisb/0Jx6m1H hDXDlrLIQJMH5Tvn7zZpSA== 0000912057-99-010194.txt : 19991222 0000912057-99-010194.hdr.sgml : 19991222 ACCESSION NUMBER: 0000912057-99-010194 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19991220 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 19991221 FILER: COMPANY DATA: COMPANY CONFORMED NAME: OGLETHORPE POWER CORP CENTRAL INDEX KEY: 0000788816 STANDARD INDUSTRIAL CLASSIFICATION: COGENERATION SERVICES & SMALL POWER PRODUCERS [4991] IRS NUMBER: 581211925 STATE OF INCORPORATION: GA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 033-07591 FILM NUMBER: 99778509 BUSINESS ADDRESS: STREET 1: 2100 EAST EXCHANGE PL STREET 2: P O BOX 1349 CITY: TUCKER STATE: GA ZIP: 30085-1349 BUSINESS PHONE: 4042707600 8-K 1 FORM 8-K ============================================================================== 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) DECEMBER 20, 1999 OGLETHORPE POWER CORPORATION (AN ELECTRIC MEMBERSHIP CORPORATION) (Exact name of Registrant as specified in its charter) GEORGIA 33-7591 58-1211925 (State or other jurisdiction (Commission (I.R.S. Employer of incorporation) File Number) Identification No.) POST OFFICE BOX 1349 30085-1349 2100 EAST EXCHANGE PLACE (Zip Code) TUCKER, GEORGIA (Address of principal executive offices) Registrant's telephone number, including area code (770) 270-7600 NONE (Former name or former address, if changed since last report) ============================================================================== Item 5. OTHER EVENTS. ------------ In a press release disseminated on December 21, 1999, Oglethorpe Power Corporation announced that an arbitration panel has ruled that Oglethorpe Power's power marketing contract with LG&E Energy Corp. and LG&E Energy Marketing, Inc. is valid and must continue to be honored. For a description of the power marketing contract and the dispute regarding it, see "Item 1. BUSINESS-MEMBER REQUIREMENTS AND POWER SUPPLY RESOURCES-Power Marketer Arrangements-LEM AGREEMENTS" and "Item 3. LEGAL PROCEEDINGS" in Oglethorpe Power's 1998 Annual Report on Form 10-K. The attached press release contains forward-looking statements regarding the power marketing contract with LG&E and should be read in conjunction with cautionary statements contained in Oglethorpe Power's 1998 Annual Report on Form 10-K. Item 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS ------------------------------------------------------------------ (c) Exhibits Number Exhibit ------ ------- 99 Press Release SIGNATURES ---------- 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. OGLETHORPE POWER CORPORATION (AN ELECTRIC MEMBERSHIP CORPORATION) Date: December 21, 1999 By: /s/ Thomas A. Smith ------------------------ --------------------------------- Thomas A. Smith President and Chief Executive Officer (Principal Executive Officer) EX-99 2 EXHIBIT 99 EXHIBIT 99 Greg Jones 770-270-7890 770-270-7080 ARBITRATORS SUPPORT OGLETHORPE POWER POSITION IN DISPUTE OVER LG&E POWER MARKETING CONTRACT ATLANTA, GA (December 21, 1999) - A three-member arbitration panel has ruled that Oglethorpe Power Corporation's power marketing contract with LG&E Energy Corp. and LG&E Energy Marketing, Inc. is valid and must continue to be honored, Oglethorpe Power announced today. The ruling resolves an arbitration claim filed by LG&E and its marketing subsidiary in October 1998 seeking to void their contract with Oglethorpe Power. The contract, which was executed in November 1996 and went into effect in early 1997, provides for LG&E to supply about one-half of Oglethorpe Power's total system load for a term of up to 15 years, subject to early termination rights by Oglethorpe at 5 years and by LG&E at 8 years. LG&E has continued to supply power under the contract while the matter has been in arbitration. Thomas A. Smith, President and CEO of Oglethorpe Power, said the company is gratified, both for itself and for its members, by the arbitration panel's ruling. "We have been confident from the beginning that our position was very sound," he said. "This ruling underscores the fact that Oglethorpe Power's contract with LG&E is a solid one which will continue to provide benefits in the years ahead." Smith said the contract-the largest of its kind when it went into effect in 1997-has yielded significant savings for Oglethorpe Power and its member systems since its inception. Oglethorpe Power Corporation is a power supply cooperative providing wholesale electricity to 39 of Georgia's 42 customer-owned EMCs. These EMCs serve more than 2.9 million Georgians in about two-thirds of the state's land area. ### -----END PRIVACY-ENHANCED MESSAGE-----