Citizens Communications Settles Proceeding With Louisiana Public Service Commission.Business Editors STAMFORD, Conn.--(BUSINESS WIRE)--Dec. 15, 2000 Citizens Communications Citizens Communications is the parent company of Frontier Telephone, providing telephone and internet access in 24 states. The company headquarters are located at 3 High Ridge Park in Stamford, Connecticut. , through its Louisiana Gas Services operation, settled a long-standing rate proceeding with the Louisiana Public Service Commission Louisiana Public Service Commission (LPSC) is an independent regulatory agency serving the public of Louisiana by managing its public utilities and motor carriers. It is the successor to the Railroad Commission of Louisiana. through a settlement agreement effective December 14, 2000. As a result, Louisiana Gas Service will refund TO REFUND. To pay back by the party who has received it, to the party who has paid it, money which ought not to have been paid. 2. On a deficiency of assets, executors and administrators cum testamento annexo, are entitled to have refunded to them legacies $27 million to ratepayers during the month of January 2001, effected as a credit on customers' bills. The settlement ends a proceeding covering rates charged between 1992 and 1997, as well as a related lawsuit lawsuit: see procedure; tort. against the company. As a result, Citizens will record a total one-time charge of $29.5 million or $0.11 per share during the fourth quarter of its fiscal year ended December 31, 2000. The Louisiana Gas Service business is to be sold to Atmos Energy Atmos Energy (NYSE: ATO), headquartered in Dallas, Texas, is the largest distributor of natural gas in the United States, serving 3.1 million customers nationwide. Atmos acquired TXU's natural gas and pipeline holdings in 2004. Co., and the sale is expected to close during the first quarter of 2001. Citizens Communications Citizens Communications serves 1.4 million access lines in 17 states. In 1999 and 2000, Citizens agreed to purchase 1.7 million additional access lines in transactions that began to close in June of 2000. Citizens also owns 86 percent of Electric Lightwave, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ELIX), a facilities-based, integrated communications provider that offers a broad range of services to telecommunications-intensive businesses throughout the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . More information about Citizens can be found at www.czn.net. This document contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the statements. These and all forward-looking statements (including oral representations) are only predictions or statements of current plans that are constantly under review by the company. All forward-looking statements may differ from actual results because of, but not limited to, changes in the local and overall economy, changes in market conditions for debt and equity securities, the nature and pace of technological changes, the number and effectiveness of competitors in the company's markets, success in overall strategy, changes in legal or regulatory policy, changes in legislation, the company's ability to identify future markets and successfully expand existing ones, the mix of products and services offered in the company's target markets, the effects of acquisitions and dispositions and the ability to effectively integrate businesses acquired. These important factors should be considered in evaluating any statement contained herein and/or made by the company or on its behalf. The foregoing information should be read in conjunction with the company's filings with the U.S. Securities and Exchange Commission including, but not limited to, reports on Forms 10-K and 10-Q. The company does not intend to update or revise these forward-looking statements to reflect the occurrence of future events or circumstances CIRCUMSTANCES, evidence. The particulars which accompany a fact. 2. The facts proved are either possible or impossible, ordinary and probable, or extraordinary and improbable, recent or ancient; they may have happened near us, or afar off; they are public or . |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion