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TEXAS EASTERN TRANSMISSION CORPORATION RECEIVES FERC RESPONSE TO ORDER 636 COMPLIANCE FILING

 HOUSTON, Jan. 15 /PRNewswire/ -- Texas Eastern Transmission Corporation (TETCO) has received an order from the Federal Energy Regulatory Commission (FERC) relating to TETCO's compliance filing under Order 636.
 Interstate natural gas pipelines are required by Order 636, which FERC issue in April 1992, to unbundle their traditional merchant service and provide separate transportation and storage services.
 George L. Mazanec, president of TETCO, said the company is pleased that initial reviews show the order, which was issued Jan. 13, appears "a reasonable and balanced step toward full implementation of TETCO's restructured services as required by Order 636." Mazanec said TETCO will promptly make the necessary revised compliance filing with FERC in order to achieve implementation of Order 636 by April 1, as contemplated by the recent order.
 "This order is an important and constructive step in the transition of our company from regulated merchant services to a more market-driven, unbundled business," Mazanec said.
 Among other provisions, the order allows for TETCO's full recovery of prudently incurred transition costs, which have been an important matter of discussion during numerous meetings among the pipeline company, its customers and FERC.
 "We are also pleased that in approving the order FERC recognized some innovative services presented by TETCO," said Richard A. Perkins, TETCO senior vice president of marketing and regulatory affairs. Among the services cited by FERC were TETCO's preferential interruptible transportation service (PTI) for storage injection and two transportation aggregation balancing services (TABS 1 and TABS 2).
 "It also should be recognized that the order represents considerable effort and hard work by many parties, including the FERC staff and the Commission which has had to deal with a number of far-reaching and complex issues," Mazanec said. "TETCO will also continue to work hard to achieve the April 1 implementation date."
 Texas Eastern Transmission Corporation is a subsidiary of Panhandle Eastern Corporation (NYSE: PEL), which operates one of the nation's largest interstate natural gas pipeline systems, providing natural gas to the Midwest and Northeast markets.
 -0- 1/15/93
 /CONTACT: Guy Cantwell, 713-627-5012 or Brad Porlier, (investors) 713-627-4600 or 800-347-3636, both of Texas Eastern Transmission Corporation/
 (PEL)


CO: Texas Eastern Transmission Corporation ST: Texas IN: OIL SU:

WB -- NY050 -- 5407 01/15/93 13:52 EST
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Date:Jan 15, 1993
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