Aquila Completes Termination Process on Gas Contract with Mississippi Gas Authority.
KANSAS CITY, Mo. -- Aquila, Inc. (NYSE NYSE
See: New York Stock Exchange :ILA ILA
abbr.
insulinlike activity ) announced today that it has completed the termination of a long-term, prepaid natural gas supply contract with the Municipal Gas Authority of Mississippi (MGAM MGAM Multimedia Games ).
St. Paul Travelers provided the surety bond surety bond
An insurance fee required before a duplicate security is issued to replace one that has been lost. The fee is approximately 4% of the market value of the security to be replaced. that guaranteed Aquila's obligations under the gas supply contract. In mid-July Aquila agreed to provide collateral to St Paul Travelers to eliminate St. Paul's exposure under the surety bond.
The gas supply contract with MGAM was managed by Aquila Merchant Services subsidiary, an unregulated merchant energy business that Aquila is in the process of exiting.
Based in Kansas City, Mo., Aquila operates electricity and natural gas distribution utilities serving customers in Colorado, Iowa, Kansas, Michigan, Minnesota, Missouri and Nebraska. The company also owns and operates power generation assets. More information is available at www.aquila.com.
COPYRIGHT 2004 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2004, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.
|
Printer friendly
Cite/link
Email
Feedback
Reader Opinion