Possible annexation or expansion in their service area as it is now. Surely their gas costs would be lower if they ever pay off the pipeline costs and legal expenses.

PNY investors,(longs) aren't concerned about this issue. The resent share price reflects only the drop in revenue of the third quarter. This always happens in the summer. No big event for us who are long time shareholders. Did the dividend drop? No. Has the dividend gone up regularly for years? Yes. Are they guaranteed a profit by the utilities commission? Yes. Gas prices rise and fall with the wholesale cost of gas. There are 8 towns with municipal gas service. Four of these buy gas wholesale directly from Transco (the pipeline company) because they are located on or near the pipeline. Three buy gas from PNY and one from PSNC. Monroe thinks it will be better off by buying directly. They think they are not regulated and they didn't add the cost of lawsuits.