FTC Files Complaint in Federal District Court Seeking to Block Equitable Resources' Acquisition of The Peoples Natural Gas Company from Dominion Resources

The Federal Trade Commission today filed a complaint in federal district court seeking a temporary restraining order and preliminary injunction to stop Equitable Resources, Inc.’s (Equitable) proposed acquisition of The Peoples Natural Gas Company (Dominion Peoples), a subsidiary of Dominion Resources, Inc.

On March 15, 2007, the Commission issued an administrative complaint challenging the acquisition and authorized Commission staff to seek a preliminary injunction in federal district court to block the proposed transaction should such an injunction become necessary to preserve the Commission’s ability to obtain effective relief upon resolution of the administrative trial.

The complaint, filed in the U.S. District Court for the Western District of Pennsylvania in Pittsburgh, seeks a temporary restraining order and preliminary injunction under Section 13(b) of the Federal Trade Commission Act, 15 U.S.C. § 53(b), to enjoin the proposed acquisition. The federal district court complaint alleges that the acquisition would lead to higher prices for the local distribution of natural gas to nonresidential customers in some areas of western Pennsylvania.

NOTE: The Commission issues or files a complaint when it has “reason to believe” that the law has been or is being violated, and it appears to the Commission that a proceeding is in the public interest. The complaint is not a finding or ruling that the named parties have violated the law.