Iberdrola SA’s proposed acquisition of Portland, ME-based Energy East — which serves 900,000 natural gas customers and 1.8 million electricity customers in Maine, New Hampshire, Massachusetts, Connecticut and New York — for an estimated $4.5 billion has been authorized by FERC.
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Iberdrola’s $4.5B Acquisition of Energy East Approved by FERC
Iberdrola SA’s proposed acquisition of Portland, ME-based Energy East — which serves 900,000 natural gas customers and 1.8 million electricity customers in Maine, New Hampshire, Massachusetts, Connecticut and New York — for an estimated $4.5 billion has been authorized by FERC.
AGL Resources Acquires Compass Energy Services
Looking to expand the types of customers it serves, AGL Resources announced that it is acquiring Compass Energy Services Inc., a privately held Richmond, VA-based commercial and industrial energy services company.
AGL Resources Acquires Compass Energy Services
Looking to expand the types of customers it serves, AGL Resources announced Monday that it is acquiring Compass Energy Services Inc., a privately held Richmond, VA-based commercial and industrial energy services company.
Iberdrola to Acquire Energy East for $4.5B
Spanish-based powerhouse Iberdrola SA agreed last week to acquire Portland, ME-based utility Energy East for an estimated $4.5 billion. The New England utility serves 1.8 million electricity customers and 900,000 natural gas customers along the East Coast in Maine, New Hampshire, Massachusetts, Connecticut and New York.
Deal Forming Integrys Energy Complete; E&P For Sale
The merger of Green Bay, WI-based WPS Resources Corp. and Chicago-based Peoples Energy Corp. was completed last week, forming Integrys Energy Group Inc. The new company serves four Midwest states through regulated utilities.
WPS, Peoples Complete Merger; New Company Selling E&P
The merger of Green Bay, WI-based WPS Resources Corp. and Chicago-based Peoples Energy Corp. was completed Wednesday, forming Integrys Energy Group Inc. The new company serves four Midwest states through regulated utilities.
Seneca to Audit Appalachia Holdings, Consider Midstream Investment
The exploration and production (E&P) arm of National Fuel Gas Co. (NFG) plans to hire a third-party consultant to analyze the reserve potential of its Appalachian Basin holdings, executives said Tuesday. Seneca Resources Corp.’s current proved reserves total about 83 Bcfe, or 13% of its total consolidated reserves. However, Seneca apparently wants to test the potential of its 935,000 net acre play after partnering with EOG Resources Inc. on some horizontal wells.
Chattanooga Gas Rate Hike to Increase Residential Bills 2.5% Monthly
AGL Resources subsidiary Chattanooga Gas Co., which serves about 61,000 customers in southeastern Tennessee, on Tuesday filed a joint settlement proposal with the Tennessee Regulatory Authority (TRA), which addresses Phase I of utility’s rate case. The joint settlement was filed with the Consumer Advocate and Protection Division of the Tennessee Attorney General’s office and the Chattanooga Manufacturers Association.
Industry Briefs
South Jersey Gas (SJG), which serves more than 322,000 residential, commercial and industrial customers throughout New Jersey, on Thursday filed a petition with the New Jersey Board of Public Utilities to decrease its gas supply service rate effective Oct. 1. On average, residential bills would decrease 3.8% or about $6.48/month. “We know the unusually high cost of energy last winter presented a challenge to many of our customers,” said CEO Edward J. Graham. “Since last winter natural gas prices have gradually decreased, and our filing is based on projections that natural gas prices will be lower during the upcoming winter than they were last year. In addition, we’re aggressively seeking opportunities to reduce gas costs by restructuring our gas supply portfolio, while continuing to provide high quality gas service,” Graham added.