Algonquin Power & Utilities Corp. Announces Closing of New England Natural Gas
Distribution Assets Acquisition
OAKVILLE, ON, Dec. 20, 2013
OAKVILLE, ON, Dec. 20, 2013 /PRNewswire/ - Algonquin Power & Utilities Corp.
("APUC") (TSX: AQN) announced that effective today, Liberty Utilities, APUC's
regulated distribution utility, has closed on a series of transactions
resulting in the acquisition of the Massachusetts natural gas distribution
utility assets ("New England Gas Assets") of Southern Union Company, a wholly
owned indirect subsidiary of Energy Transfer Partners, L.P. The acquisition of
New England Gas Assets was originally announced in February 2013 and
regulatory approval was received from the Massachusetts Department of Public
Utilities earlier this month.
The New England Assets provide natural gas service to approximately 53,000
customers in Massachusetts, bringing the total customer count to over 470,000
for Liberty Utilities.
"The acquisition of the New England natural gas utility provides the
opportunity for Liberty Utilities to participate in the supportive
Massachusetts regulatory environment," said Ian Robertson, Chief Executive
Officer, APUC. "This acquisition opens another market for the company to
expand its regulatory footprint and execute on its organic growth strategy in
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 Twitter@AQN_Utilities.
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.
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