August 27, 2016 10:28 PM ET

Electric Utilities

Company Overview of Rochester Gas and Electric Corporation

Company Overview

Rochester Gas and Electric Corporation generates, transmits, and distributes electricity in western New York. It also transports and distributes natural gas. The company generates electricity from three natural gas turbine plants and various smaller hydroelectric stations. It serves approximately 374,000 electricity and 309,000 natural gas customers in 9 counties, including and surrounding the city of Rochester, New York. The company’s service territory consists of approximately 2,700 square miles. Rochester Gas and Electric Corporation is based in Rochester, New York. Rochester Gas and Electric Corporation is a subsidiary of RGS Energy Group, Inc.

89 East Avenue

Rochester, NY 14649

United States

Phone:

800-295-7323

Key Executives for Rochester Gas and Electric Corporation

President
Age: 62
Vice President, Controller and Treasurer
Senior Vice President and Chief Operating Officer
Vice President of Fossil/Hydro Operations
Vice President - Technical Services
Compensation as of Fiscal Year 2016.

Rochester Gas and Electric Corporation Key Developments

Avangrid, Inc., New York State Electric & Gas Corporation, Rochester Gas and Electric Corporation, Central Maine Power Company, the United Illuminating Company, Connecticut Natural Gas Corporation, the Southern Connecticut Gas Company and the Berkshire Gas Company Enter into Revolving Credit Facility with Syndicate of Banks

Avangrid, Inc., New York State Electric & Gas Corporation, Rochester Gas and Electric Corporation, Central Maine Power Company, The United Illuminating Company, Connecticut Natural Gas Corporation, The Southern Connecticut Gas Company and The Berkshire Gas Company entered into a revolving credit facility with a syndicate of banks, that provides for maximum borrowings of up to $1.5 billion in the aggregate. Under the terms of the Credit Facility, each joint borrower has a maximum borrowing entitlement, or sublimit, which can be periodically adjusted to address specific short-term capital funding needs, subject to the maximum limit established by the banks. The Company’s maximum sublimit is $1 billion, NYSEG, RGE, CMP and UI have maximum sublimits of $250 million, CNG, and SCG have maximum sublimits of $150 million and BGC has a maximum sublimit of $25 million. The Credit Facility contains no rating triggers that would cause default, acceleration or puts but does contain rating sensitive pricing. The Credit Facility also contains negative covenants, including one that sets the ratio of maximum allowed consolidated debt to consolidated total capitalization at 0.65 to 1.00, for each borrower. Under the credit facility, each of the borrowers will pay an annual facility fee that is dependent on their credit rating. The initial facility fees will range from 12.5 to 17.5 basis points. The maturity date for the credit facility is April 5, 2021.

NYSEG and RG&E Announce Technology Partnership to Lower Connection Costs for Renewable Generation

NYSEG and RG &E, subsidiaries of AVANGRID, are preparing to roll out an innovative technology aimed at making it easier and more efficient for large-scale producers of renewable energy resources to connect to the electric power grid. The utilities' Flexible Interconnect Capacity Solution (FICS) demonstration project supports New York State's Reforming the Energy Vision (REV) initiative. NYSEG and RG &E are collaborating with Scottish technology firm Smarter Grid Solutions to test the new interconnect approach. NYSEG and RG &E will test Smarter Grid Solutions' Active Network Management (ANM) technology to help accommodate larger amounts of solar-generated electricity on the lower-voltage distribution electric delivery system without jeopardizing the safe and reliable operation of the grid. ANM can also support interconnection of wind, hydro and biomass/biogas generated electricity.

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Recent Private Companies Transactions

Type
Date
Target
No transactions available in the past 12 months.
 

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