Peoples Energy acquires natural gas reserves and announces new power plant

HOUSTON, Apr. 27, 2001—Continuing its convergence strategy, gas distribution company Peoples Energy Corp. acquired interests in producing gas and oil wells in South Texas for $120 million. Separately, the Chicago-based Peoples announced it will build a new 330-MW power plant with partner Exelon Generation, an affiliate of Exelon Corp.

SYRACUSE, NY, April 27, 2001 — Niagara Mohawk Power Corp. filed an electricity pricing proposal with the state Pubic Service Commission to cover the final two years of its restructuring agreement.

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