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Select Energy Grows New England Gas Presence

Select Energy Grows New England Gas Presence

Aurora Natural Gas of Dallas sold its New England retail business to Select Energy of Berlin, CT, for $26 million. Select is a wholly owned subsidiary of Northeast Utilities.

Select acquires Aurora's retail customer contracts and associated natural gas supplies in New England, making it one of the regions largest competitive retail gas providers in addition to its already established position as the regions largest competitive retail electric supplier.

The acquisition gives Select a substantial increase in its natural gas presence. With contracted annual volumes exceeding 8 Bcf, it represents hundreds of large commercial and industrial customers in four New England states.

As part of the deal, Select will be granted exclusive rights in the Northeast to the AMNET System, a data collection and volume management system developed by Aurora Technologies.

Aurora will continue marketing and trading activities in other areas of the country and will use sale proceeds to expand its trading, midstream, and technology activities. "Our AMNET technology allowed us to create a highly profitable retail business in a very difficult operational environment. We believe Select Energy's acquisition of the business and technology will allow the company to leverage the combined businesses," said Dennis G. McLaughlin, CEO ANG Holdings.

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