UNITED CITIES FILES TENNESSEE RATE INCREASE
UNITED CITIES FILES TENNESSEE RATE INCREASE BRENTWOOD, Tenn., March 30 /PRNewswire/ -- United Cities Gas Co.
(NASDAQ-NMS: UCIT), the Nashville-area based distributor of natural and propane gas, announced today it has filed with the Tennessee Public Service Commission requesting a general rate increase totaling $2.9 million annually in revenues.
The application filed represents an overall rate increase of 3.4 percent for approximately 73,000 natural gas customers in Tennessee. Once approved by the Commission, the new rates would be in effect by Oct. 1. Gene C. Koonce, United Cities' president and chief executive officer, said the proposed rate increase would give the company the opportunity to earn a return on the more than $28 million invested in new facilities since the company's last rate increase three years ago. Koonce pointed out that this investment has been made to serve new businesses and individuals, as well as improve service to the company's longtime customers. United Cities Gas Company distributes natural and propane gas to approximately 295,000 customers in nine states. The company is also engaged in other energy-related businesses. -0- 3/30/92 /CONTACT: Linda Kelley, United Cities Gas Company, 615-373-0104/ (UCIT) CO: United Cities Gas Company ST: Tennessee IN: UTI SU:
CM -- CH003 -- 2957 03/30/92 14:24 EST
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|Date:||Mar 30, 1992|
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