Exhibit 99.2
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SEMCOENERGY NEWS RELEASE
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405 Water Street, Port Huron, MI 48060
FOR IMMEDIATE RELEASE
ANALYSTS CONTACT: SEBASTIAN COPPOLA
Senior Vice President & Chief Financial Officer
Phone: 810-989-4101
MEDIA CONTACT: FRANCIS R. LIEDER
Manager of Corporate Communications & Media Relations
Phone: 810-987-2200 ext. 4186
FAX:810-989-4098
ALASKA COMMISSION ESTABLISHES RATE REVIEW PROCEDURES FOR SEMCO'S ENSTAR UNIT
PORT HURON, MI, November 29, 2000 - SEMCO ENERGY (NYSE:SEN) reported today
that The Regulatory Commission of Alaska has issued an order finding that the
studies filed in April of this year by SEMCO's ENSTAR Natural Gas Division and
its Alaska Pipeline Company affiliate generally complied with applicable
statutory and legal requirements. SEMCO acquired ENSTAR in November 1999, and
had been required to file revenue requirement and cost of service studies by the
Commission in its order approving the acquisition.
Noting that ENSTAR's rates had not been reviewed since 1986, the Commission
also determined that further examination of ENSTAR's revenue requirements and
cost of service studies is required to ensure that ENSTAR's rates are just and
reasonable. In its order the Commission stated that, if changes in ENSTAR's
existing rates are determined to be appropriate, such changes would be applied
on a prospective basis.
William L. Johnson, Chairman, President and Chief Executive Officer of
SEMCO ENERGY, Inc., stated "We welcome the opportunity to work with the
Commission, respond to its questions and demonstrate that ENSTAR's rates are
fair to its customers and the Company's shareholders. In fact, ENSTAR's rates
currently are among the lowest in the country."
A pre-hearing conference to establish a procedural schedule and to address
disposition of the issues has been set for February 8, 2001.
SEMCO ENERGY, Inc. is a diversified energy and infrastructure company that
distributes natural gas to more than 350,000 customers combined in Michigan and
Alaska. It owns and operates businesses involved in gas engineering and quality
assurance services, pipeline construction services, propane distribution,
intrastate pipelines and natural gas storage in various regions of the United
States. In addition, it provides information technology and outsourcing
services, specializing in the mid-range computer market.
The following is a "Safe-harbor" statement under the Private Securities
Litigation Reform Act of 1995. This release contains forward-looking statements
that involve risks and uncertainties including, but not limited to, statements
involving the Company's expectations regarding operating revenues and expenses,
operating income, returns on invested assets, regulatory approval processes,
success in obtaining new business, success in integrating acquired businesses,
and other risks detailed from time to time in the Company's Securities and
Exchange Commission filings.
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