WILKES-BARRE, Pa., April 2, 2003 — Southern Union Co. announced that the Missouri Public Service Commission (MoPSC) unanimously approved the settlement agreement reached between the company and the MoPSC’s staff and Office of Public Counsel regarding the company’s acquisition of Panhandle Eastern Pipe Line Company and its subsidiaries from CMS Gas Transmission Co., a subsidiary of CMS Energy Corporation.
The MoPSC order becomes effective April 6, 2003.
In consideration of the efforts continuing to be made in connection with obtaining the regulatory approvals needed under the Panhandle Stock Purchase Agreement, CMS Gas has agreed to waive any penalty that would have been due from Southern Union if closing occurred after March 31, 2003.
Discussions continue with the staff of the Federal Trade Commission with respect to its review of the acquisition under the Hart-Scott-Rodino Antitrust Improvements Act (“HSR Act”).
Southern Union Company is an energy distribution company serving approximately 1 million customers through its natural gas operating divisions in Missouri, Pennsylvania, Rhode Island and Massachusetts. The Company also owns and operates electric generating facilities in Pennsylvania. For further information, visit www.southernunionco.com.