Released By Pacific Northern Gas Ltd. News Release
Oct. 31, 2002

PNG'S APPLICATION FOR RECONSIDERATION OF JULY 31, 2002 RATE DECISIONS DENIED BY BCUC

VANCOUVER, BRITISH COLUMBIA – Pacific Northern Gas Ltd. (PNG) today announced that the British Columbia Utilities Commission (BCUC) has denied PNG’s application for reconsideration and variance of the two July 31, 2002 decisions issued by the BCUC on the PNG and Pacific Northern Gas (N.E.) Ltd. 2002 revenue requirements applications.

 

PNG had requested the BCUC to reconsider its 2002 forecast of residential and commercial natural gas deliveries and vary the decisions by reinstating the PNG forecasts contained in the original revenue requirement applications. 

  

Actual gas deliveries to residential and commercial customers during the first nine months of 2002 are 2% less than the Company’s original forecast, and 6.5% less than the delivery forecast determined by the BCUC.  The difference between actual gas deliveries during the first nine months of 2002 and forecast deliveries established by the BCUC for these two customer groups will reduce net income by an estimated $1.0 million in 2002.  The impact of all adjustments arising from the July 31, 2002 rate decisions will be reflected in the consolidated third quarter interim report of PNG, scheduled for release prior to November 14, 2002.

 

Headquartered in Vancouver, British Columbia, Pacific Northern Gas Ltd. (TSX:PNG.A/ PNG.PR.A) owns and operates natural gas transmission and distribution systems.  The Company’s western transmission line extends from the Duke Energy Gas Transmission (formerly Westcoast Energy) system north of Prince George to tidewater at Kitimat and Prince Rupert, and provides service to 12 communities and a number of industrial facilities.  In the northeast, Pacific Northern’s subsidiary Pacific Northern Gas (N.E.) Ltd. provides gas distribution service in the Dawson Creek, Fort St. John and Tumbler Ridge areas.  www.pacificnortherngas.com.

 

Contact: Greg Weeres, Media Contact
Phone: 604/691-5680
24 Hour Phone: n/a
Email: gweeres@duke-energy.com
Contact: Elizabeth Fletcher, Investor Inquiries
Phone: 604/691-5884
24 Hour Phone: n/a
Email: efletche@duke-energy.com