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IOWA POWER AND IOWA PUBLIC SERVICE REPORT ON ICE STORM DAMAGE

      IOWA POWER AND IOWA PUBLIC SERVICE REPORT ON ICE STORM DAMAGE
    DES MOINES, Iowa, Nov. 6 /PRNewswire/ -- Last week's ice storm damaged both the distribution and transmission systems of Iowa Power and Iowa Public Service, the utility subsidiaries of Midwest Resources Inc. (NYSE: MWR).
    Restoration costs for the distribution systems are estimated at $2 million for each utility.  A portion of these costs will be capitalized, and the remainder will either be expensed in 1991 or amortized over a five-year period.  The preliminary cost estimate for rebuilding the damaged 345,000-volt transmission line is $27 million. The transmission line is owned by four utilities.  The Iowa Power-Iowa Public Service share of this cost is estimated at $11.6 million, which will be capitalized.
    The storm knocked out electric service to an estimated 40,000 customers of the two companies in portions of western, northern and central Iowa.  High winds, ice, snow and severe cold hampered initial repair efforts, but nearly all customers now have electric service.
    The transmission line connects the Neal 3 Generating Station near Sioux City with Iowa Power's Sycamore substation in Johnston.  Aerial inspection of the transmission line shows 386 support towers covering about 90 miles were damaged in the storm.  By comparison, 69 towers on a different section of this line were damaged in the March 1990 ice storm in central Iowa.
    "While this storm caused severe damage to our electric system, our main concern has been to restore service to our customers as quickly and as safely as possible.  We appreciate the patience and understanding of our customers who have been affected by this storm, and we are proud of the dedication and commitment demonstrated by our employees," said Russell E. Christiansen, chairman and chief executive officer of Iowa Public Service and Iowa Power.
    Iowa Power and the electric division of Iowa Public Service provide service to 411,000 customers in Iowa and South Dakota.  Iowa Power and Iowa Public Service are subsidiaries of Midwest Resources, a Des Moines-based holding company.
    -0-                    11/6/91
    /CONTACT:  John McCarroll, 515-281-2785 or Peter Langlois, 712-277-7810, both of Midwest Resources/
    (MWR) CO:  Midwest Resources Inc.; Iowa Power; Iowa Public Service ST:  Iowa IN:  UTI SU: BB -- DV010 -- 1923 11/06/91 17:08 EST
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Publication:PR Newswire
Date:Nov 6, 1991
Words:376
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