April 8, 2008
Unitil Files To Buy Northern Utilities
Unitil Corp. , the New Hampshire-based utility company that provides gas and electrical services in North Central Massachusetts, has filed paperwork with regulatory agencies to buy Northern Utilities Inc. , a gas company serving customers in New Hampshire and Maine.
Unitil reports that it plans to take out $160 million in long-term loans to purchase Northern Utilities from its current owner, Indiana-based natural gas company NiSource. Unitil said it will retain Northern's workforce and add more than 40 new jobs.
Currently, Unitil serves 115,000 customers, and the new acquisition will add 52,000 more. The company said the move will also increase its total capitalization by more than 60 percent. Unitil said it expects the regulatory agencies, the Maine Public Utilities Commission and the New Hampshire Public Utilities Commission, to act on the company's request by Oct. 1.
Unitil reports that it plans to take out $160 million in long-term loans to purchase Northern Utilities from its current owner, Indiana-based natural gas company NiSource. Unitil said it will retain Northern's workforce and add more than 40 new jobs.
Currently, Unitil serves 115,000 customers, and the new acquisition will add 52,000 more. The company said the move will also increase its total capitalization by more than 60 percent. Unitil said it expects the regulatory agencies, the Maine Public Utilities Commission and the New Hampshire Public Utilities Commission, to act on the company's request by Oct. 1.
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