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VALLEY GAS COMPANY AUTHORIZES 4.8 PERCENT INCREASE

 VALLEY GAS COMPANY AUTHORIZES 4.8 PERCENT INCREASE
 CUMBERLAND, R.I., Oct. 5 /PRNewswire/ -- Valley Gas Company


announced today that it has been authorized by the Rhode Island Public Utilities Commission to raise its base tariffs 4.8 percent on an annual base or $2,274,185. The average residential heating customer's annual bill will increase $42. In granting the increase in rates the Commission wrote in its Order, "To the base figure of 11.4 percent we will add 30 basis points. The management of the Company has done an exemplary job in handling its affairs. In particular we note the infrequency of its rate increase filings and the forthright manner in which it deals with this Commission."
 This represents the first base tariff rate increase sought by the company in nearly eight years. A slowing in growth, significant investments in plant and the implementation of a new customer information system necessitated this request for relief.
 Valley Gas Company is the principal subsidiary of Valley Resources, Inc. It serves approximately 53,000 customers in the Blackstone Valley area of northern Rhode Island. Valley Resources, Inc. is traded on the American Stock Exchange under the symbol VR.
 -0- 10/5/92
 /CONTACT: K.W. Hogan of Valley Gas Company, 401-333-1595/
 (VR) CO: Valley Gas Company, Valley Resources, Inc. ST: Rhode Island IN: OIL SU:


DH -- NE012 -- 6449 10/05/92 09:25 EDT
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Publication:PR Newswire
Date:Oct 5, 1992
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