PITTSBURGH, March 10 /PRNewswire-FirstCall/ -- United States Steel
Corporation (NYSE: X) announced today that the Indiana Court of Appeals
reversed a previous decision of the Indiana Utilities Regulatory Commission
(IURC) involving a rate escalation provision in U. S. Steel's electric
power supply contract with Northern Indiana Public Service Company
(NIPSCO). The decision, handed down by the Court on Friday, March 7, 2008,
held that a rate provision in a 1999 agreement between the parties applied
to certain electric demand charges since October 1, 2005 -- that will
continue until July 2009 -- and remanded the case to the IURC for
calculation of the charges. U. S. Steel is surprised and disappointed over
the outcome of the case, which it had won on a summary judgment motion
before the IURC. U. S. Steel intends to seek a review of this decision by
the Indiana Supreme Court, but expects to establish a pre-tax reserve of
approximately $45 million in its first quarter results related to prior
year effects.
2008-016
For more information about U. S. Steel visit http://www.ussteel.com.
SOURCE U. S. Steel
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Related links:
http://www.ussteel.com
http://www.prnewswire.com/comp/929150.html/
CONTACT:
John Armstrong, +1-412-433-6792, or Erin
DiPietro, +1-412-433-6845, both of U. S. Steel
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