Printer Friendly

PANHANDLE EASTERN PIPE LINE COMPANY AND DAYTON POWER & LIGHT REACH FIRM TRANSPORTATION AND STORAGE AGREEMENT

 HOUSTON, Aug. 13 /PRNewswire/ -- Panhandle Eastern Pipe Line Company (PEPL) and The Dayton Power & Light Company (DP&L) have entered into a 10-year agreement that calls for PEPL to provide the Ohio-based local distribution company (LDC) with 75 million cubic feet per day of firm natural gas transportation and storage services.
 The transportation and storage agreement will begin on April 1, 1994. To service the agreement, PEPL will construct about 50 miles of pipeline to connect PEPL's existing facilities to DP&L facilities. The scheduled in-service date for the new pipeline facilities is Nov. 1, 1994.
 "This is a great opportunity for Panhandle Eastern Pipe Line Company to provide a large Midwestern LDC with transportation and storage services," said Steve Roverud, vice president of marketing for PEPL. "The market area of the city of Dayton along the I-75 corridor is growing rapidly, and we are proud to work with DP&L to serve those customers."
 "Teaming up with Panhandle Eastern will provide for the delivery of reliable natural gas service to our customers and meet the energy needs of West Central Ohio," said Tom Jenkins, DP&L group vice president.
 Dayton Power & Light is the principal subsidiary of DPL Inc., a holding company formed in 1986. DP&L sells electricity and natural gas to residential, commercial, industrial and government customers in a 6,000 square mile area of West Central Ohio. Electricity for DP&L's 24 county service area is generated at eight electric generating plants and is distributed to 458,000 retail customers. In addition, DP&L supplies electric energy to 12 municipalities on a wholesale basis. Natural gas is provided to 282,000 customers through 16 counties.
 Panhandle Eastern Pipe Line Company is a subsidiary of Panhandle Eastern Corporation (NYSE: PEL), America's natural gas transportation company, which operates one of the nation's largest interstate natural gas pipeline systems, providing natural gas transportation and related services to the Midwest and Northeast markets.
 -0- 8/13/93
 /CONTACT: Danny P. Gibbs, media relations, 713-627-5011, or Brad Porlier, investor relations, 713/627-4600 or 800-347-3636, both of Panhandle Eastern Corporation/
 (PEL)


CO: Panhandle Eastern Pipe Line Company; Dayton Power & Light Co. ST: Texas, Ohio IN: OIL SU:

LD -- NY092 -- 2753 08/13/93 17:50 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Aug 13, 1993
Words:374
Previous Article:NAPA COUNTY, CALIF. $13.96 MILLION CERTIFICATES OF PARTICIPATION'S RATED 'A+' BY FITCH -- FITCH FINANCIAL WIRE --
Next Article:PURCHASES OF PAPAL PARAPHERNALIA PUMP UP ATM USAGE IN DENVER; PLUS ATM VOLUME UP 40 TO 70 PERCENT
Topics:

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters