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NYSEG POSTPONES RATE FILING

 NYSEG POSTPONES RATE FILING
 BINGHAMTON, N.Y., Aug. 28 /PRNewswire/ -- New York State Electric &


Gas Corporation (NYSE: NGE) (NYSEG) has decided to postpone filing for electric and natural gas rate increases for at least three months, said James A. Carrigg, chairman, president and chief executive officer, today.
 The company had indicated previously that it would apply for rate increases at the end of this month.
 Explaining this change of plan, Carrigg said, "The need for rate relief is significant. For example, annual costs associated with purchasing electricity from non-utility generators will increase by $23 million and taxes are expected to increase by $10.5 million in the 12 months ending July 1994. However, we think it would be undesirable to seek rate increases at this time. Given the current economic climate throughout our service area, a request for higher rates now would be very discouraging to our customers, and it would also upset the momentum of our discussion with the Public Service Commission (PSC) staff and other parties regarding a multi-year rate settlement."
 NYSEG has made "excellent progress to date" in its rate settlement discussions, and "we are strongly committed to making this new process work," Carrigg continued.
 NYSEG will intensify its efforts to control costs while maintaining a high quality of service. These cost-containment measures will affect staffing, capital construction projects, operating and maintenance costs and compensation practices, said Carrigg.
 -0- 8/28/92
 /CONTACT: Ken B. Hooper, Manager of Media Relations for New York State Electric & Gas Co., 607-762-4407/
 (NGE) CO: New York State Electric & Gas Corporation ST: New York IN: UTI SU:


BM -- CL010 -- 4358 08/28/92 11:56 EDT
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Publication:PR Newswire
Date:Aug 28, 1992
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