Tue July 3, 2012
Liberty Utilities Acquires National Grid's Gas and Electric Businesses in New Hampshire
Liberty Utilities Company completed its $250 million acquisition of National Grid’s gas and electric businesses in New Hampshire today.
Liberty Utilities now services National Grid’s 87,000 natural gas and 43,000 electric customers across the state.
Ian Robertson, chief executive officer of Liberty Utilities’ parent company, Algonquin Power and Utilities Corp. of Ontario, says the deal was 18 months in the making.
Robertson says the transition will be seamless, and National Grid customers can expect a more localized approach to business.
I hope our customers start to get a sense for the local and responsive and perhaps caring relationship that we want to bring to New Hampshire, it’s very much a hallmark of the way we think utilities should be run.
National Grid announced plans to sell Granite State Electric Inc. and EnergyNorth Natural Gas Inc. to Algonquin Power & Utilities Corp. in 2010.
The company had been considering leaving New Hampshire since 2009 when the state’s Public Utilities Commission would not approve a more favorable regulatory rate.