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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED): JULY 15, 1998
AGL RESOURCES INC.
(EXACT NAME OF REGISTRANT AS SPECIFIED IN CHARTER)
GEORGIA 1-14174 58-2210952
(STATE OR OTHER JURISDICTION (COMMISSION FILE NO.) (IRS Employer
OF INCORPORATION) IDENTIFICATION NO.)
303 PEACHTREE STREET, N.E., ATLANTA, GEORGIA 30308
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE)
(404) 584-9470
(REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE)
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ITEM 5. OTHER EVENTS
On July 15, 1998, AGL Resources Inc. issued a press release announcing the
formation of SouthStar Energy Services LLC in a joint venture with Piedmont
Natural Gas Company and Dynegy Inc. SouthStar Energy will offer a combination of
energy products and services to industrial, commercial and residential customers
in the Southeast. The products and services will include natural gas,
electricity, fuel oil and propane along with related retail services. A copy of
the Registrant's press release is attached as Exhibit 99 to this Report.
ITEM 7. EXHIBITS
99 Form of Press Release, dated July 15, 1998. See the Exhibit Index on
page 3 hereof.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
AGL RESOURCES INC.
(Registrant)
/s/ J. Michael Riley
----------------------------
J. Michael Riley
Senior Vice President and
Chief Financial Officer
Date: July 15, 1998
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EXHIBIT INDEX
Exhibit No. Description
---------- ------------
99 Form of Press Release, dated
July 15, 1998
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Media Contact: Analyst Contact:
Piedmont Natural Gas Company Piedmont Natural Gas Company
Steve Conner Headen Thomas
704 364-3120, ext. 205 704 364-3120, ext. 438
AGL Resources Inc. AGL Resources Inc.
Ross Willis Joe Heffron
404 584-3769 404 584-3976
Dynegy Inc. Dynegy Inc.
Maripat Sexton Dean Ayers
713 507-3936 713 507-6852
AGL RESOURCES INC., PIEDMONT NATURAL GAS COMPANY, INC. AND
DYNEGY INC. FORM JOINT VENTURE TO PROVIDE COMPETITIVE ENERGY
SERVICES TO SOUTHEAST MARKET
Atlanta, GA (July 15, 1998) AGL Resources Inc., Piedmont Natural Gas
Company, Inc. and Dynegy Inc. today announced the formation of SouthStar Energy
Services LLC. The new company, headquartered in Atlanta, will offer a
combination of unregulated energy products and services to industrial,
commercial and residential customers in the Southeast. The products and services
will include natural gas, electricity, fuel oil and propane, along with related
retail services. Offices will also be located in Charlotte and Nashville.
SouthStar Energy will initially market energy products and services to
targeted industrial and commercial customers throughout the Southeast and will
offer residential and small business energy services to customers within Georgia
as that market opens in November, 1998. SouthStar Energy will expand its
residential and small business services to the other states as they open their
markets to competition.
"Deregulation of the natural gas and electric industries is creating
new, innovative choices for customers and new markets for natural gas, propane,
electric and related services," said AGL's chief executive officer Walt Higgins.
"Georgia will be among the first markets to
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open statewide to competition for retail natural gas sales. Through SouthStar
Energy, we will be well-positioned to serve the changing needs of the customers
of Georgia and the Southeast with quality energy products and services as our
industry continues to evolve," said Higgins.
"The formation of SouthStar Energy marks another achievement in
Piedmont's overall strategic plan," said Piedmont chairman and president, John
H. Maxheim. "We believe the unbundled retail market will best be served by joint
ventures composed of strong partners who have varied skills that can be
profitably leveraged. Through Piedmont's reputation as a quality provider of
natural gas and propane services in the high growth areas of North Carolina,
South Carolina and Tennessee, we bring a foundation of market knowledge and
innovation to SouthStar Energy," said Maxheim.
"The SouthStar Energy joint venture is a significant step in our
strategy to serve the retail markets through alliances with companies with
strong regional presence," said Chuck Watson, chairman and chief executive
officer of Dynegy Inc. "Piedmont and AGL clearly are leaders in the Southeast
region and well positioned to compete in the marketplace as deregulation allows
customers to choose their energy provider. Dynegy's strength as a wholesale
provider of energy and risk management services will enhance the competitive
advantage of this alliance as the market opens," said Watson.
AGL Resources Inc. (NYSE:ATG) is the holding company of Atlanta Gas
Light Company, the largest natural gas distribution company in the Southeast,
serving 1.4 million customers in Georgia and southern Tennessee. The company
also sells propane to over 48,000 customers throughout the Southeast.
Piedmont Natural Gas Company, Inc. (NYSE:PNY), the second-largest gas
utility company in the Southeast, is an energy and services company primarily
engaged in the transportation and sale of natural gas to over 620,000
residential, commercial and industrial customers in North Carolina, South
Carolina and Tennessee. The company also sells propane to over 50,000 customers
in the company's three-state area.
Dynegy Inc. (NYSE:DYN) is one of the leading marketers of energy
products and services in North America with over $13 billion in revenue and
nearly $5 billion in assets. Dynegy recently changed its name from NGC
Corporation to reflect the company's evolution from a natural gas marketing
company to a dynamic energy company with a full energy network to meet the
growing challenges of the energy market of the future. Its leadership position
in gathering, processing, independent power generation, transportation and
marketing of energy products enables the company to offer energy solutions and
risk management services to customers in North America, the United Kingdom,
Colombia and Australia.
2
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For more information, contact Dynegy Inc. at www.Dynegy.com.
For more information, contact Piedmont Natural Gas Company at
www.piedmontng.com.
For more information, contact AGL Resources Inc. at www.AGLR.com.
