OTHER NEWS - Sept. 6, 1991
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PG&E; to Sell Subsidiary: Pacific Gas & Electric Co. said it has agreed in principle to sell Pacific Gas Transmission Co., a wholly owned subsidiary, to TransCanada PipeLines Ltd. of Calgary, Alberta. Pacific Gas Transmission owns a 612-mile natural gas pipeline system running between British Columbia and the Oregon-California border. The purchase price is expected to be $290 million to $350 million, which will also cover the subsidiary’s 49% interest in Alberta Natural Gas Co. PG&E; will continue to own the 300-mile California portion of the pipeline project. In addition to PG&E;, the pipeline serves Southern California Edison and San Diego Gas & Electric.
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