Algonquin Power & Utilities Corp., through its subsidiaries, owns and operates a portfolio of regulated and non-regulated generation, distribution and transmission utility assets. The company’s operations are organized across three business unit groups consisting of Generation, Transmission and Distribution. The Generation Group owns and operates a portfolio of non-regulated renewable and thermal electric generation utility assets; the Transmission Group is responsible for evaluating and capitalizing upon natural gas pipeline and electric transmission asset opportunities in North America; and the Distribution Group owns and operates a portfolio of North American electric, natural gas and water distribution and wastewater collection utility systems. Generation Business Group The Generation Group generates and sells electrical energy produced by its portfolio of non-regulated renewable and clean energy power generation facilities located across North America. The group delivers continuing growth through development of new greenfield power generation projects and accretive acquisitions of additional electrical energy generation facilities. The Generation Group owns or has interests in hydroelectric, wind, solar, and thermal facilities with a combined generating capacity of approximately 120 MW, 700 MW, 30MW, and 335 MW respectively. The Generation Group also has a portfolio of development projects that between 2016 and 2018 would add approximately 711 MW of generation capacity from wind and solar powered generating stations with an average contract life of 21 years. Distribution Business Group The Distribution Group operates various rate regulated electricity, natural gas, water distribution and wastewater collection utility services to approximately 489,000 connections, excluding the Park Water System. The Distribution Group provides services to its ratepayers through its nationwide portfolio of utility systems and delivers stable and predictable earnings to the company. The Distribution Group's regulated electrical distribution utility systems and related generation assets are located in the states of California and New Hampshire; and together serve approximately 93,000 electric connections. The Distribution Group's regulated natural gas distribution utility systems are located in the states of Georgia, Illinois, Iowa, Massachusetts, Missouri, and New Hampshire; and together server approximately 292,000 natural gas connections. The Distribution Group's regulated water distribution and wastewater collection natural gas distribution utility systems are located in the states of Arizona, Arkansas, Illinois, Missouri, and Texas; and together server approximately 104,000 connections. In January 2016, the Distribution Group completed its acquisition of the Park Water System, which is comprised of two water and wastewater facilities in California and one facility in Montana. This acquisition adds approximately 74,000 connections to the Distribution Group's present water and wastewater footprint. Transmission Business Group In 2014, the company created the Transmission Group responsible for identifying, evaluating and capitalizing upon natural gas pipeline and electric transmission investment opportunities in North America. Markets The company's water and wastewater facilities are located in the United States in the states of Arizona, Texas, Missouri, Arkansas, and upon closing of the Park Water Company acquisition, in the states of California and Montana. The company operates electrical distribution systems in the states of California and New Hampshire. The company owns and operates natural gas distribution systems, under cost-of-service regulation in the states of Illinois, Iowa, Missouri, Georgia, Massachusetts and New Hampshire. Customers The Generation Group's businesses derive their revenues principally from the sale of electricity to large utilities. For the year ended December 31, 2015, the company’s customers included Manitoba Hydro-Electric Board; PJM Interconnection LLC; Hydro Quebec Distribution; Pacific Gas & Electric Company; and Ahlstrom ESA. Seasonality The Generation Group's hydroelectric operations are impacted by seasonal fluctuations and year to year variability of the available hydrology. These assets are primarily ‘run-of-river’ and as such fluctuate with natural water flows. During the winter and summer periods, flows are generally lower while during the spring and fall periods flows are generally higher. The Generation Group's wind generation facilities are impacted by seasonal fluctuations and year to year variability of the wind resource. During the spring and fall periods, winds are generally stronger than during the summer periods. The Generation Group's solar generation facilities are impacted by seasonal fluctuations and year to year variability in the solar radiance. For instance, there are more daylight hours in the summer than there are in the winter resulting in higher production in the summer months. Regulation The company is subject to the Public Utility Holding Company Act of 2005 (PUHCA). The Generation Group's intermediate holding companies claims exemption from PUCHA under Title 18, Part 366.3 of the U.S. Code of Federal Regulations. History Algonquin Power & Utilities Corp. was founded in 1996.
algonquin power & utilities
(AQN:Toronto Stock Exchange)
354 Davis Road
Oakville, ON L6J 2X1
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