Algonquin Power & Utilities Corp. Announces Approval of New England Natural Gas Distribution Acquisition

Algonquin Power & Utilities Corp. Announces Approval of New England Natural 
Gas Distribution Acquisition 
OAKVILLE, ON, Dec. 17, 2013 /CNW/ - Algonquin Power & Utilities Corp. ("APUC") 
(TSX: AQN) today announced that an APUC subsidiary has received all federal 
and state regulatory approvals required to complete the acquisition of the 
regulated natural gas distribution utility assets located in Massachusetts 
("New England Gas"). New England Gas provides natural gas service to 
approximately 53,000 customers in Massachusetts. 
The acquisition, originally announced in February 2013, is expected to close 
on or before January 31, 2014. Total consideration for the utility asset 
purchase is approximately U.S. $74 million, subject to working capital and 
closing adjustments. The acquisition is expected to be funded using a targeted 
capital structure of approximately 50% equity and 50% debt and will include 
the assumption of $19.5 million of existing debt. Net property, plant and 
equipment expected on closing is U.S. $72.7 million, with a 2014 expected 
enterprise value to earnings before interest, tax, depreciation and 
amortization multiple of 7.8x. 
"We are pleased to continue the growth of our regulated utility business with 
the acquisition of another high quality natural gas distribution utility, 
which strategically expands our regulated utility footprint in the north-east 
United States," commented Ian Robertson, Chief Executive Officer of APUC. "We 
continue to demonstrate our ability to deliver accretive growth through 
disciplined utility acquisitions and prudent capital investment." 
About Algonquin Power & Utilities Corp.
Algonquin Power & Utilities Corp. owns and operates a diversified$3.2 
billionportfolio of regulated and non-regulated utilities inNorth America. 
The company's regulated utility business is committed to provide water, 
electricity and natural gas utility services to over 470,000 customers through 
a nationwide portfolio of regulated generation, transmission and distribution 
utility systems. The company's non-regulated electric generation subsidiary 
owns or has interests in renewable energy and thermal energy facilities 
representing more than 1,100 MW of installed capacity. Algonquin Power & 
Utilities Corp. delivers continuing growth through an expanding pipeline of 
renewable power and clean energy projects, organic growth within its regulated 
utilities and the pursuit of accretive acquisition opportunities. Common 
shares and preferred shares are traded on the Toronto Stock Exchange under the 
symbols AQN and AQN.PR.A respectively. Visit Algonquin Power and Utilities 
atwww.AlgonquinPowerandUtilities.comand follow us on 
Caution Regarding Forward-Looking Information
Certain statements included in this news release contain information that is 
forward-looking within the meaning of certain securities laws, including 
information and statements regarding prospective results of operations, 
financial position or cash flows. These statements are based on factors or 
assumptions that were applied in drawing a conclusion or making a forecast or 
projection, including assumptions based on historical trends, current 
conditions and expected future developments. Since forward-looking statements 
relate to future events and conditions, by their very nature they require 
making assumptions and involve inherent risks and uncertainties. APUC cautions 
that although it is believed that the assumptions are reasonable in the 
circumstances, these risks and uncertainties give rise to the possibility that 
actual results may differ materially from the expectations set out in the 
forward-looking statements. Material risk factors include those set out in the 
management's discussion and analysis section of APUC's most recent annual 
report and quarterly report, and APUC's Annual Information Form. Given these 
risks, undue reliance should not be placed on these forward-looking 
statements, which apply only as of their dates. Other than as specifically 
required by law, APUC undertakes no obligation to update any forward-looking 
statements or information to reflect new information, subsequent or otherwise.

SOURCE  Algonquin Power & Utilities Corp. 
 Algonquin Power & Utilities Corp. Kelly Castledine Investor Relations (905) 
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CO: Algonquin Power & Utilities Corp.
ST: Ontario
-0- Dec/17/2013 22:15 GMT
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