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GULF STATES UTILITIES ISSUES STATEMENT

 GULF STATES UTILITIES ISSUES STATEMENT
 BEAUMONT, Texas, Dec. 9 /PRNewswire/ -- Gulf States Utilities


today issued the following statement:
 "We are disappointed, but not totally surprised, that the U.S. Supreme Court refused to hear the appeal of the Louisiana rate case decision disallowing $1.4 billion in systemwide River Bend construction costs. The high court grants very few motions to review state supreme court decisions.
 "The Louisiana Supreme Court in April upheld a district court's disallowance of River Bend costs the Louisiana Public Service Commission deemed imprudent. It was this aspect of the ruling that was appealed to the U.S. Supreme Court.
 "The State Supreme Court did say the LPSC can implement a deregulated asset plan to address the disallowed River Bend investment. It ruled that a state district court judge went beyond his jurisdiction in ordering such a plan in 1989. Consultants to the LPSC have recommended retention of a deregulated asset plan.
 "If the plan is retained in its current form, an after-tax write down of up to $250 million could be required. If no plan is approved, the company could be required to write off its entire remaining Louisiana retail jurisdictional investment, about $469 million after accumulated depreciation and related tax benefits as of Sept. 30."
 -0- 12/9/91


CONTACT: Sharon Englade, 409-839-2814, or Doug McCormick, 409-839-2858, both of Gulf States Utilities/
 (GSU) CO: Gulf States Utilities ST: Texas, Louisiana IN: UTI SU: SB -- NY065 -- 0659 12/09/91 15:36 EST
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Publication:PR Newswire
Date:Dec 9, 1991
Words:247
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