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
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SOURCE Southwest Gas Corporation
Photo: NewsCom: http: //www.newscom.com/cgi-bin/prnh/20010823/SWXLOGO AP Archive: http://photoarchive.ap.org PRN Photo Desk, +1-888-776-6555 or +1-212-782-2840
CONTACT: Media, Roger Buehrer, +1-702-876-7132, or Shareholders, Ken Kenny, +1-702-876-7237, both of Southwest Gas Corporation
CAPTION: SWXLOGO SOUTHWEST GAS CORPORATION LOGO Southwest Gas Corporation logo. (PRNewsFoto)[TC] LAS VEGAS, NV USA 08/23/2001