Missouri PSC Approves Laclede Gas Acquisition, Cost Recovery Plan

The Missouri Public Service Commission approved Laclede Gas’ $975 million acquisition of Missouri Gas Energy from Southern Union Co. The state’s largest gas utility will have 1.1 million customers in Missouri’s largest metro areas. St. Louis-based Laclede offered shares of common stock valued  at $387 million in May to cover some of the acquisition costs. The commission also will allow Laclede to recover certain one-time integration costs through rates. About 100 Laclede employees are working on the integration plan for Kansas City-based Missouri Gas.

Read more in the St. Louis Business Journal

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