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GULF STATES UTILITIES REPORTS NEW FIXED FUEL FACTOR WILL REDUCE FUEL REVENUES

 BEAUMONT, Texas, June 4 /PRNewswire/ -- The Public Utility Commission of Texas Wednesday set a new fixed fuel factor that will reduce Gulf States Utilities Co.'s fuel revenues by $34.1 million per year and approved customer refunds reflecting the fact that past fuel expenses were less than had been projected.
 The company believes the commission order will set the new fuel factor at 1.8386 cents per kilowatt-hour, down from the current 2.0993 cents per kwh. The regulators also ordered about a $34 million refund to Texas customers for the lower-than-estimated fuel costs incurred since the last refund period.
 The commissioners disallowed the above-avoided-cost purchased power expenses costs associated with a joint venture cogeneration project with industrial customers in the Lake Charles, La., area. The company had argued it should be allowed to collect the contract price of power it purchases from the Nelson Industrial Steam Co. since the project enabled the three large customers to remain on the GSU system. GSU has collected only the avoided cost of the power from Texas customers.
 The company intends to ask the commission for a rehearing on its decision.
 Gulf States is a Beaumont, Texas-based utilities that serves more than 591,000 customers along the Gulf Coast from Houston to New Orleans.
 -0- 6/4/93
 /CONTACT: Sharon Englade for Gulf States Utilities Co., 409-839-2814/
 (GSU)


CO: Gulf States Utilities Co. ST: Texas IN: UTI SU:

LR -- NY012 -- 5332 06/04/93 09:15 EDT
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Publication:PR Newswire
Date:Jun 4, 1993
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