PSC Votes to Approve NYSEG Electric Rate Plan, Merger with RG&E

The New York State Public Service Commission voted Wednesday to approve, with conditions, a five-year plan designed to reduce electric rates by $205 million annually for customers of New York State Electric and Gas (NYSEG). The commission also voted to approve the merger of Energy East Corp., NYSEG’s parent, with RGS Energy Group, parent of Rochester Gas & Electric (RG&E). If NYSEG accepts the Commission’s conditions, the plan will take effect March 1.

February 28, 2002

Industry Briefs

Southern Mineral Corp. of Houston sold its interests in theBrushy Creek Field in Lavaca and Dewitt counties of Texas to ANRProduction Co. for $15.2 million. Closing on the Texan Gardensfield has been extended for up to 30 days. The company earmarkedmost of the proceeds for cutting bank debt. Southern Mineral is anoil and gas acquisition, exploration and production company thatowns interests in oil and gas properties along the Texas GulfCoast, Canada and Ecuador. The company’s principal assets includeinterests in the Big Escambia Creek field in Alabama and the PineCreek field in Alberta, Canada. The company is listed on the NasdaqNational Market under the symbol SMIN.

August 3, 1999
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