Business

Mo. Regulators Approve Laclede Gas Purchase Of MGE

St. Louis Public Radio | By Marshall Griffin,

Marshall Griffin, The Associated Press (394)

Published July 17, 2013 at 3:40 PM CDT

The Missouri Public Service Commission has given the go-ahead for St. Louis-based Laclede Gas to purchase Missouri Gas Energy.

Commission members placed a major condition on the purchase – Laclede Gas is barred from seeking a rate increase in its current service area until October of 2015. Laclede spokeswoman Jessica Willingham says, though, they would be allowed to seek an increase in the areas currently served by Missouri Gas once the purchase becomes official.

"Our next step at Laclede is to complete the financing and close the transaction," Willingham said. "According to the agreement, we're permitted to close on the transaction on or after September 1st, so we'll know a lot more at that time."

Laclede currently serves the St. Louis area and other parts of eastern Missouri, while Missouri Gas Energy serves the Kansas City area and other portions of western Missouri. The new, expanded company would operate as two divisions, Laclede and MGE, and would provide natural gas to more than a million customers in Missouri.

Laclede Gas announced last December that it would pay about $1 billion to buy Missouri Gas Energy and New England Gas Company.

Follow Marshall Griffin on Twitter: @MarshallGReport

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Marshall Griffin

Missouri Public Radio State House Reporter Marshall Griffin is a proud alumnus of the University of Mississippi (a.k.a., Ole Miss), and has been in radio for over 20 years, starting out as a deejay. His big break in news came when the first President Bush ordered the invasion of Panama in 1989. Marshall was working the graveyard shift at a rock station, and began ripping news bulletins off the old AP teletype and reading updates between songs. From there on, his radio career turned toward news reporting and anchoring. In 1999, he became the capital bureau chief for Florida's Radio Networks, and in 2003 he became News Director at WFSU-FM/Florida Public Radio. During his time in Tallahassee he covered seven legislative sessions, Governor Jeb Bush's administration, four hurricanes, the Terri Schiavo saga, and the 2000 presidential recount. Before coming to Missouri, he enjoyed a brief stint in the Blue Ridge Mountains, reporting and anchoring for WWNC-AM in Asheville, North Carolina. Marshall lives in Jefferson City with his wife, Julie, their dogs, Max and Mason, and their cat, Honey.

See stories by Marshall Griffin

Marshall Griffin

St. Louis Public Radio State House Reporter Marshall Griffin is a native of Mississippi and proud alumnus of Ole Miss (welcome to the SEC, Mizzou!). He has been in radio for over 20 years, starting out as a deejay. His big break in news came when the first President Bush ordered the invasion of Panama in 1989. Marshall was working the graveyard shift at a rock station, and began ripping news bulletins off an old AP teletype and reading updates between songs. From there on, his radio career turned toward news reporting and anchoring. In 1999, he became the capital bureau chief for Florida's Radio Networks, and in 2003 he became News Director at WFSU-FM/Florida Public Radio. During his time in Tallahassee he covered seven legislative sessions, Governor Jeb Bush's administration, four hurricanes, the Terri Schiavo saga, and the 2000 presidential recount. Before coming to Missouri, he enjoyed a brief stint in the Blue Ridge Mountains, reporting and anchoring for WWNC-AM in Asheville, North Carolina. Marshall lives in Jefferson City with his wife, Julie, their dogs, Max and Liberty Belle, and their cat, Honey.

The Associated Press (394)

See stories by The Associated Press (394)