	gulf states gsu sees end to cash by may gulf states utilities co said its condition has significantly deteriorated and that its operating cash reserves will be inadequate by may unless it receives additional financing or rate relief from state public utilities commissions in texas and louisiana in the company s newly released annual report and k filing gulf states said its bank lenders had notified the utility last month that no additional credit would be granted gulf states said the banks had requested the utility to begin making prepayments by the end of april of mln dlrs more than the estimated lease payments of mln dlrs the circumstances increase the likelihood that the company may have to seek protection from its creditors under the bankruptcy code gulf states said the utility had previously said it might be forced to consider filing for bankruptcy because of limited rate increases granted by state regulators in connection with gulf states billion dlr river bend nuclear plant in louisiana if the regulatory commissions approve the company s proposed rate moderation plan and grant the increases provided for in such plan during the initial three year phase in period the company believes it could achieve financial stability gulf states said in february the texas public utilities commission granted gulf states an interim rate increase of mln dlrs contingent upon the utility obtaining a new mln dlr line of credit to pay operating expenses the utility had sought mln dlrs in rate hikes in texas gulf states has appealed a decision by louisiana state regulators rejecting its application for mln dlrs in emergency rate relief in gulf states ed mln dlrs on revenues of billion dlrs compared to profits of mln dlrs on sales of billion in the previous year reuter 
