1998 11 17 Elk Point Gas, Ltd. selling distribution system
Sale will provide an immediate reduction in the cost of gas to customers
Elk Point Gas, Ltd. announces that it has made application to the Alberta Energy and Utilities Board for approval of the sale of the distribution system serving residents and other consumers in the Elk Point area to Centra Gas Alberta Inc.
The sale of the distribution system will see Centra Gas Alberta Inc. assume ownership and operations of the natural gas distribution system currently owned by Elk Point Gas, Ltd. The sale will take effect on the first day of the month following approval by the Alberta Energy and Utilities Board. All customers of Elk Point Gas, Ltd. will become customers of Centra Gas Alberta Inc. at that time, and will be charged the rates, tolls, and charges as then approved for Centra Gas Alberta Inc.
The sale will provide an immediate reduction in the costs of gas being paid by all customers of Elk Point Gas, Ltd. The Town of Elk Point and Elk Point Gas, Ltd. have also negotiated a memorandum of understanding that will see a portion of the proceeds of the sale refunded to customers.
The quality and level of service will not be affected by the sale, since Centra Gas Alberta Inc. intends to maintain a service depot in and will operate the distribution system from the Town of Elk Point. The staff of Elk Point Gas, Ltd. will be employed by Centra Gas Alberta Inc. to ensure continuity of service.
For further information please contact: Victor Stepa, Vice-President, Elk Point Gas, Ltd., 4807-50 Ave., Elk Point, AB., Phone (403) 724-3730 or K. David Campbell, Consultant, Campbell Ryder Engineering Ltd., 202, 15023-123 Avenue, Edmonton, Alberta, Phone (403) 452-9340.
