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NOVA REACTS TO ALBERTA PUBLIC UTILITIES BOARD DECISION

 CALGARY, Alberta, Aug. 20 /PRNewswire/ -- The Alberta Public Utilities Board (PUB) today announced its decision regarding the rate of return and capital structure of the Alberta Gas Transmission Division (AGTD) of NOVA Corporation of Alberta.
 In that decision, the PUB set AGTD's total rate of return at 10.35 percent, including an 11.75 percent return on a deemed common equity component of 30 percent. This rate will apply to all of 1993.
 To date in 1993, NOVA has been billing its customers based on a 12.5 percent return on a deemed common equity component of 32 percent. These rates were set by the PUB in October 1992. The reductions in return on equity and deemed common equity component reflected in the PUB decision are expected to reduce NOVA's 1993 net income by approximately $17 million.
 "Clearly, we're extremely disappointed with the PUB's decision," said Bruce Simpson, president of NOVA's gas transmission division, "particularly in view of this board's decision respecting the same matters less than one year ago. We'll need some time to study the decision report and consider our options."
 -0- 8/20/93
 /CONTACT: B.W. (Bruce) Simpson, president, 403-290-7644, or W.N. (Bill) Rowe, Investor Relations, 403-290-7807, or P.J. (Jeff) Flood, Public Affairs, 403-290-7657, all of NOVA Corporation of Alberta/
 (NVA.)


CO: NOVA Corporation of Alberta ST: Alberta IN: OIL SU:

BP -- LA019 -- 4774 08/20/93 17:43 EDT
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Publication:PR Newswire
Date:Aug 20, 1993
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