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Peoples Energy to sell plants

21 September 2006 — Peoples Energy Corp. is selling its 50 percent equity interest in its Elwood Energy electric power plant and 100 percent interest in COB Energy Facility for $110 million to J-Power USA Development Co. Ltd. J-Power’s parent company is Tokyo-based Electric Power Development Co. Ltd. Its shareholders will vote to approve the deal in mid-October.

People’s Energy is selling off its power assets to focus on its core natural gas distribution business. The sale will complete its power asset divestiture. Elwood Energy is a joint venture between Peoples Energy and Dominion Energy Inc., a unit of Richmond, Va.-based Dominion Resources Inc. COB Energy is a development projects in Klamath County, Ore.