|Southwest Gas Announces Purchase of Black Mountain Gas|
LAS VEGAS, June 7 /PRNewswire-FirstCall/ -- Southwest Gas Corporation (NYSE: SWX) (Southwest) announced today an agreement to purchase Black Mountain Gas Company (BMG), a gas utility serving Cave Creek and Page, AZ, from Xcel Energy Inc. (NYSE: XEL) (Xcel Energy), Minneapolis, MN.
(Photo: http://www.newscom.com/cgi-bin/prnh/20010823/SWXLOGO )
BMG, a subsidiary of Xcel Energy, serves approximately 7,300 natural gas customers in a rapidly growing area north of Phoenix. The Page division serves about 2,400 propane customers.
Regulatory approvals by the Arizona Corporation Commission and the Securities and Exchange Commission are needed to consummate the purchase.
Southwest Gas Corporation provides natural gas service to approximately 1,411,000 customers in Arizona, Nevada and California. Its service territory is centered in the fastest-growing region of the country.
This press release may contain statements which constitute "forward-looking statements" within the meaning of the Securities Litigation Reform Act of 1995 (Reform Act). All such forward-looking statements are intended to be subject to the safe harbor protection provided by the Reform Act. A number of important factors affecting the business and financial results of the Company could cause actual results to differ materially from those stated in the forward-looking statements. These factors include, but are not limited to, the effects of regulation, changes in capital requirements and funding, resolution of pending litigation, acquisitions, and competition.
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