Court Upholds Laclede Gas Company's Position on Its Price Stabilization Program

Nov 10, 2003, 00:00 ET from Laclede Gas Company

    ST. LOUIS, Nov. 10 /PRNewswire-FirstCall/ -- The Circuit Court of Cole
 County, Missouri, has vacated a Missouri Public Service Commission decision
 relating to Laclede Gas Company's Price Stabilization Program that was in
 effect during the heating season of 2000-2001.
     Under that program, Laclede Gas had generated gains of nearly
 $28.5 million, which for the most part were passed through to Laclede's
 customers with Laclede being entitled to retain $4.9 million. The Commission
 decided in April 2003 that Laclede should not be allowed to retain its share
 of these gains.
     The Court ruled on November 5, 2003, that the Commission's decision was
 unlawful and not supported by competent and substantial evidence on the
 record. The Court's Order and Judgment becomes final 30 days after the date it
 was issued, at which time it will be subject to appeal.
     Laclede Gas Company, a regulated subsidiary of The Laclede Group
 (NYSE:   LG) is the largest natural gas distribution utility in Missouri,
 serving more than 630,000 natural gas customers in the St. Louis area and
 elsewhere in eastern Missouri.

SOURCE Laclede Gas Company