Institutional Shareholder Services (ISS) and Egan-Jones Proxy Services have recommended that Southern Union Co. shareholders vote in favor of the company’s proposed acquisition by Energy Transfer Equity LP, Southern Union said Monday. ISS said the Energy Transfer offer is “significantly higher than Southern Union’s all-time high trading price prior to the initial announcement of the merger.” Egan-Jones said the proposed deal is a “desirable approach in maximizing shareholder value.” A special meeting of shareholders is scheduled for 11 a.m. EST Dec. 9. Williams has also pursued Southern Union but has been repeatedly rebuffed (see Daily GPI, Oct. 13).

Sempra Energy‘s Southern California Gas Co. (SoCalGas) utility unit said it plans to add about 1,000 new natural gas-powered trucks to its fleet during the next five years. The new trucks are part of what the utility has dubbed its “green” fleet replacement program that will have residential energy service technicians “driving the message that natural gas is the fuel of choice for the road.” Currently operating with about 1,000 natural gas vehicles (NGV) in its fleet, SoCalGas will purchase new natural gas-powered trucks from original equipment manufacturers as well as custom-built NGVs through a collaborative effort with local Southern California companies. The utility will work with Torrance-based Landi Renzo USA, Royal Truck Bodies and Wondries Fleet Group, and the new trucks will be equipped with Landi Renzo/Baytech compressed natural gas (CNG) fuel systems that are approved by the California Air Resources Board. SoCalGas said independent sources estimate the U.S.supply of natural gas will last more than a century, and the utility stressed that CNG currently costs about $2/gasoline gallon equivalent, offering the public significant fuel costs savings.

©Copyright 2011Intelligence Press Inc. All rights reserved. The preceding news reportmay not be republished or redistributed, in whole or in part, in anyform, without prior written consent of Intelligence Press, Inc.