August 11, 2011
Liberty Energy Buying Out Atmos Natural Gas Services in Missouri, Iowa and Illinois
Atmos Energy Corporation (Atmos) and Liberty Energy (Midstates) Corp. (Liberty) have filed a joint application with the Missouri Public Service Commission seeking Commission authority for Atmos to sell its natural gas system to Liberty.
Applications to intervene and participate in this case must be filed no later than August 22, 2011, with the Secretary of the Missouri Public Service Commission, P.O. Box 360, Jefferson City, Missouri 65102.
Back in May, Atmos announced that it had executed a definitive agreement to sell all of its natural gas distribution assets located in Missouri, Illinois and Iowa to Liberty, an affiliate of Algonquin Power & Utilities Corp. for an all cash price of approximately $124 million.
"We are pleased to be able to consummate this sale to a company of Algonquin's excellent reputation and know that they will continue our focus on safety, reliability, a strong culture and providing excellent customer service," said Kim R. Cocklin, President and Chief Executive Officer of Atmos Energy Corporation.
Individual citizens wishing to comment on the proposed sale may contact the Office of the Public Counsel, P.O. Box 2230, Jefferson City, Missouri 65102-2230, telephone 1-866-922-2959, email firstname.lastname@example.org or the Public Service Commission staff, P.O. Box 360, Jefferson City, Missouri 65102, telephone 1-800-392-4211, email email@example.com .
The Office of the Public Counsel is a separate state agency which represents the general public in cases before the Public Service Commission.
Atmos serves approximately 55,000 natural gas customers in the Missouri counties of Adair, Bates, Butler, Cape Girardeau, Cass, Clark, Dunklin, Henry, Iron, Knox, Lewis, Macon, Marion, Mississippi, New Madrid, Pemiscot, Pike, Ralls, Ripley, Schuyler, Scotland, Scott, St. Clair, Stoddard and Wayne.
All told, the transaction will include the transfer of approximately 84,000 meters and is expected to close in fiscal 2012, after the receipt of all necessary regulatory approvals according to Atmos officials.
These predominantly residential and commercial meters represent less than three percent of the Dallas, Texas headquartered company's three million natural gas customers. Atmos Energy will reduce the number of states in which it operates from twelve to nine, with approximately 80 percent of its utility operations in the three states of Texas, Louisiana and Mississippi.