Junctur

Enova-PE Merger Set to Cross Critical Junctur

An important juncture in the proposed $5 billion merger ofPacific Enterprises and Enova Corp. is expected this week when anadministrative law judge with the California Public UtilitiesCommission recommends a proposed decision to the five-memberregulatory body. The CPUC is then expected to act by the end ofMarch. No one is expecting the proposed decision or the ultimatefinal one by the state to turn down the marriage of the holdingcompanies for Southern California Gas Co. and San Diego Gas andElectric Co., but it is unclear whether the conditions placed onthe deal will make it financially unattractive for one or both ofthe companies

February 24, 1998