OAKVILLE, ON, Dec. 20, 2013 /CNW/ - 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 2014."
About Algonquin Power & Utilities Corp.
Algonquin Power & Utilities Corp. owns and operates a diversified $3.2
billion portfolio of regulated and non-regulated utilities in North
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 at www.AlgonquinPowerandUtilities.com and 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
SOURCE: Algonquin Power & Utilities Corp.
For further information:
Algonquin Power & Utilities Corp.