LDC Would Act as "Marketer"
The North Carolina Utilities Commission has approved a proposal by Public Service Co. of North Carolina (the "LDC") to market gas supplies and unused pipeline capacity to large users through a joint venture between its own affiliate and a non-affiliated gas marketer.
The affiliate, PSNC Production Corporation, will own 50% of the new venture. The second venture partner is an unnamed, nonaffiliated marketing company that operates on a nationwide basis.