St. Louis Public Radio News
2:56 pm
Fri May 2, 2003

Laclede Gas Could Lower Rates

St. Louis, Mo. – Laclede Gas Company customers could see lower rates for one year beginning this fall.

That's because state regulators have determined that the utility is not entitled to keep almost five-million-dollars in proceeds from the sale of what are termed "call options" two years ago. Call options can be bought and sold by utilities to hedge against the price of natural gas.

Laclede says it will seek a rehearing in the case. If unsuccessful, the company will appeal the ruling.