February 28, 2017 1:09 PM ET

Gas Utilities

Company Overview of The Berkshire Gas Company

Company Overview

The Berkshire Gas Company transports, distributes, and sells natural gas for residential, commercial, and industrial use. It serves approximately 40,000 customers in Massachusetts. The company was formerly known as Pittsfield Coal Gas Company and changed its name to The Berkshire Gas Company in 1954. The Berkshire Gas Company was founded in 1853 and is based in Pittsfield, Massachusetts. The Berkshire Gas Company is a subsidiary of Berkshire Energy Resources.

115 Cheshire Road

Pittsfield, MA 01201

United States

Founded in 1853

Key Executives for The Berkshire Gas Company

Chairman and Chief Executive Officer
Age: 65
President and Chief Operating Officer
Age: 58
Compensation as of Fiscal Year 2016.

The Berkshire Gas Company 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.

UIL Holdings Corporation, The United Illuminating Company ,The Southern Connecticut Gas Company ,Connecticut Natural Gas Corporation and the Berkshire Gas Company Announce Amendments to Their Credit Agreement

On December 3, 2015, UIL Holdings Corporation (UIL") and its subsidiaries, The United Illuminating Company, The Southern Connecticut Gas Company, Connecticut Natural Gas Corporation and The Berkshire Gas Company (collectively with UIL, the Borrowers"), entered into an Amendment No. 2 to their Amended and Restated Credit Agreement, dated as of November 30, 2011, among the Borrowers, the Banks party thereto and JPMorgan Chase Bank, N.A., as administrative agent. The Amendment No. 2 addresses, among other things, provisions of the Credit Agreement relating to changes of control, including amending the definition of a Change of Control".

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Recent Private Companies Transactions

No transactions available in the past 12 months.

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