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IOWA POWER AND IOWA PUBLIC SERVICE MERGER BECOMES EFFECTIVE

 IOWA POWER AND IOWA PUBLIC SERVICE MERGER BECOMES EFFECTIVE
 DES MOINES, Iowa, July 22 /PRNewswire/ -- The merger of Iowa Power Inc. of Des Moines and Iowa Public Service Company of Sioux City, forming Midwest Power Systems Inc., is effective today. The Federal Energy Regulatory Commission (FERC) late yesterday issued its written order approving the merger. The FERC on July 15 voted to approve the merger application.
 Midwest Power Systems has two operating divisions: Midwest Power and Midwest Gas. Midwest Power combines the electric systems of Iowa Power and IPS Electric to serve 412,000 customers in Iowa and South Dakota. Midwest Gas continues to provide natural gas service to 363,000 customers in Iowa, Minnesota, Nebraska and South Dakota.
 Russell Christiansen, chairman and chief executive officer of Midwest Power Systems, says customers will see few immediate changes as a result of the merger.
 "As soon as practical, the new company name will be printed on electric bills. Midwest Power and Midwest Gas will use the same corporate symbol as the parent company, Midwest Resources Inc. Customers who receive separate gas and electric bills will continue to do so, and combined electric and gas bills will continue for other customers for the time being," Christiansen says.
 Midwest Power Systems, Iowa's largest utility, will have corporate headquarters in Des Moines, home of Midwest Resources. The Midwest Power division will have electric distribution headquarters in Des Moines, and headquarters of generation and transmission will be in Sioux City. The Midwest Gas division will maintain its headquarters in Sioux City.
 -0- 7/22/92
 /CONTACT: John McCarroll, Midwest Resources, 515-281-2785/ CO: Iowa Power Inc.; Iowa Public Service Company; Midwest Resources ST: Iowa IN: UTI SU: TNM


JZ -- DV016 -- 1970 07/22/92 13:39 EDT
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Publication:PR Newswire
Date:Jul 22, 1992
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