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): June 24, 2005
IRS Employer
Commission Registrant; State of Incorporation; Identification
File Number Address; and Telephone Number Number
----------- ---------------------------------------- -------------------
1-13739 UNISOURCE ENERGY CORPORATION 86-0786732
(An Arizona Corporation)
One South Church Avenue, Suite 100
Tucson, AZ 85701
(520) 571-4000
1-5924 TUCSON ELECTRIC POWER COMPANY 86-0062700
(An Arizona Corporation)
One South Church Avenue, Suite 100
Tucson, AZ 85701
(520) 571-4000
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:
|_| 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 8.01 - OTHER EVENTS.
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Rates - TEP's 2004 Rate Review
As previously reported, on June 1, 2004, Tucson Electric Power Company (TEP)
filed general rate case information with the Arizona Corporation Commission
(ACC) as required by the 1999 Settlement Agreement. TEP's filing uses a
historical test year ended December 31, 2003 and establishes, based on TEP's
standard offer service, that TEP is experiencing a revenue deficiency of $111
million. TEP's filing does not propose any change in retail rates, and under the
terms of the Settlement Agreement, no rate case filed by TEP through 2008 may
result in a net rate increase but the Settlement Agreement does stipulate that
rates could be decreased.
On June 24, 2005, intervenor testimony in TEP's 2004 rate review was due and
several intervenors filed their respective testimony. None of the intervenor
testimony filed and received by the company to date proposes to increase or
decrease TEP rates; all of the intervenors are recommending that TEP rates
remain unchanged. The company has received and reviewed testimony from the
following intervenors: the ACC Staff, Residential Utility Consumer Office,
Arizonans for Electric Choice and Competition, Phelps Dodge Mining Company and
ASARCO, Inc. and Southwest Energy Efficiency Project and Western Resource
Advocates.
The ACC administrative law judge has scheduled a procedural conference on July
6, 2005 to evaluate the need for a hearing in the 2004 rate review. The hearing
is currently scheduled to begin in September 2005.
Despite the company's position that it has a revenue deficiency and the
intervenor testimony recommending no change in rates, the ACC could conclude
during this 2004 rate review process that the company should decrease rates; any
such determination would be strongly opposed by TEP.
2
SIGNATURES
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.
Date: June 27, 2005 UNISOURCE ENERGY CORPORATION
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(Registrant)
/s/ Kevin P. Larson
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Vice President and Principal
Financial Officer
Date: June 27, 2005 TUCSON ELECTRIC POWER COMPANY
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(Registrant)
/s/ Kevin P. Larson
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Vice President and Principal
Financial Officer