PACIFICORP, UTAH POWER
COMPLETE MERGERPORTLAND, Ore. - PacifiCorp and Utah Power & Light completed their merger Tuesday.
The combined entity is the third largest electric utility west of the Mississippi River. PacifiCorp will now have two energy services divisions - Pacific Power & Light Co., Portland, and UP&L, Salt Lake City - with about 2 million customers.
The cost of the merger is between $18 million and $20 million, but PacifiCorp estimates it will save more than $50 million the first year and $500 million in the first five years of combined operation.
Pacific Power will retain its name in the six states it serves: Oregon, California, Idaho, Wyoming, Washington and Montana. UP&L will continue to operate under its own name in its present Utah, Wyoming and Idaho service areas.
Annual revenues from the utility businesses will be more than $2 billion, or about 70 percent, of PacifiCorp's consolidated revenue.
CHEVRON USA BOOSTS
EASTERN CRUDE POSTINGS
SAN FRANCISCO - Chevron U.S.A. Inc. Monday increased by 75 cents a barrel the posted price it will pay for all grades of crude oil in its Eastern Region.
Chevron will now pay $16.75 a barrel for West Texas Intermediate.
SUN REFINING RAISES
DISTILLATE BARGE PRICE
NEW YORK - Sun Refining & Marketing Co., Philadelphia, a unit of Sun Co., Wednesday increased its barge price for No. 2 fuel oil in New York Harbor by a half cent a gallon to 57.25 cents.