Enbridge St. Lawrence Gas is a regulated utility that provides natural gas to over 16,000 customers in 23 communities across northern New York State, and operates approximately 688 miles of natural gas distribution pipeline
Algonquin Power & Utilities Corp. completes acquisition of Enbridge St. Lawrence Gas. Photo: courtesy of Robert-Owen-Wahl from Pixabay.
Algonquin Power & Utilities Corp. (“APUC” or the “Company”) (TSX/NYSE: AQN) today announced that its subsidiary Liberty Utilities Co., APUC’s wholly-owned regulated utility business, successfully completed its acquisition of Enbridge St. Lawrence Gas from Enbridge Gas Inc., a subsidiary of Enbridge Inc. (TSX/NYSE: ENB) (the “Transaction”). Enbridge St. Lawrence Gas is a regulated utility that provides natural gas to over 16,000 customers in 23 communities across northern New York State, and operates approximately 688 miles of natural gas distribution pipeline.
“We are pleased to welcome the employees and customers of St. Lawrence Gas to the Liberty Utilities family,” said Ian Robertson, Chief Executive Officer of APUC. “St. Lawrence Gas represents a new avenue for future investment as we look forward to serving the area with clean, affordable natural gas for their homes and businesses.”
APUC looks forward to providing increased access to natural gas in northern New York State service territories, in particular the expansion areas of St. Lawrence and Franklin Counties. The Company also plans to make access more readily available to residents and small businesses through a shareholder-funded Carbon Reduction Initiative. The fund will be used to off-set the customer cost to convert to natural gas from oil or propane, as well as for energy efficiency improvements.
Source: Company Press Release