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PEOPLES ENERGY VENTURE PLUGS INTO PEAK ELECTRICITY NEEDS.
Crain's Chicago Business, March, 1999 by MURPHY, H. LEE
Its earnings pounded by two unusually warm winters in a row, Peoples Energy Corp. is turning to a different season -- summer -- to diversify its business. With its 50-50 joint-venture partner, Dominion Resources Inc. of Richmond, Va., the Chicago-based natural gas utility is making its first foray into electricity with the opening of a natural gas-fired electricity generating plant in Elwood, 60 miles southwest of Chicago.
The plant, due to open in June, will produce 600 megawatts of electricity, enough power to serve the needs of 180,000 residential customers. It will help fill the region's power needs in summer, when air-conditioning use creates peak demand for electricity. The plant eventually might be expanded, according to Peoples Chairman and CEO...
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