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The West Virginia Public Service Commission (PSC) has authorized Hope Gas, Inc. to sell its production facilities to an affiliate, CNG Producing Co., for the current book value of the properties, $4.512 million. The DPUC emphasized that it would rely on representations that Hope Gas would work to reduce the risks to its ratepayers for lost and unaccounted-for gas by pursuing meter relocation on a prioritized basis. While its affiliation with CNG might diminish Hope's incentive to seek the best bargain in its purchased-gas contracts, the fact that the affiliate is held captive by Hope transmission lines, among other factors, should serve to keep purchased-gas costs at reasonable levels, according to the PSC. Re Hope Gas, Inc., Case No. 95-1105-G-PC, Apr. 16, 1996 (W.Va.P.S.C.).
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