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 and Exchange Act of 1934
Date of Report (Date of earliest event reported): September 16, 2016
Commission File Number 1-5924 | ||
TUCSON ELECTRIC POWER COMPANY (Exact name of registrant as specified in its charter) | ||
Arizona (State or other jurisdiction of incorporation or organization) | 86-0062700 (I.R.S. Employer Identification No.) | |
88 East Broadway Boulevard, Tucson, AZ 85701 (Address of principal executive offices)(Zip Code) | ||
Registrant's telephone number, including area code: (520) 571-4000 | ||
(Former name, former address and former fiscal year, if changed since last report): N/A | ||
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:
o | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
o | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
o | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
o | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 8.01 Other Events.
On September 16, 2016, Tucson Electric Power Company (TEP) completed the purchase of a 50.5% undivided interest in Unit 1 of Springerville Generating Station (Springerville Unit 1) for $85 million and received $12.5 million for previously unreimbursed operating costs related to Springerville Unit 1. The purchase brought TEP’s total ownership interest in Springerville Unit 1 to 100%.
As previously reported, on February 29, 2016, TEP, Alterna Springerville LLC (Alterna), LDVF1 TEP LLC (LDVF1) and Wilmington Trust Company and William J. Wade, as Owner Trustee and Co-trustee under a separate trust agreement with each of Alterna and LDVF1, (Alterna and LDVF1, together with the Owner Trustees and Co-trustees, the Third-Party Owners), entered into an agreement with the Third-Party Owners for settlement and release of asserted claims and the purchase and sale of beneficial interests in Springerville Unit 1 (Agreement). Subsequent to the purchase, as provided in the Agreement, all outstanding disputes, pending litigation, and arbitration proceedings between TEP and the Third-Party Owners were dismissed with prejudice.
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 thereunto duly authorized. | ||
TUCSON ELECTRIC POWER COMPANY | ||
(Registrant) | ||
Date: September 22, 2016 | /s/ Kevin P. Larson | |
Kevin P. Larson | ||
Senior Vice President and Chief Financial Officer | ||
(On behalf of the registrant and as Principal Financial Officer) | ||