|
|
|
|
Emera To Acquire Utilities With Customer Choice Programs
Emera Inc. and TECO Energy, Inc. announced a definitive agreement for Emera to acquire TECO Energy under an all-cash deal pursuant to which Energy shareholders will receive $27.55 per common share, a 48 percent premium based on TECO Energy’s unaffected closing stock price on July 15, 2015 (the last trading day prior to news reports regarding TECO Energy’s strategic review) and 25 percent above TECO Energy’s unaffected 52-week high.
This represents an aggregate purchase price of approximately $10.4 billion including assumption of approximately $3.9 billion of debt.
TECO's New Mexico Gas Company, which serves 509,000 natural gas customers, offers a customer choice program for all customer classes, including residential customers.
TECO Energy's Peoples Gas System, Florida's largest natural gas distributor serving more than 345,000 customers, also offers a customer choice program open to all customer classes (residential customers must use 2,000 therms or more annually).
Among other utilities, Emera owns Bangor Hydro-Electric and Maine Public Service, which offer electric choice programs. Emera also owns several unregulated generating plants and energy marketer Emera Energy
Upon closing, Emera will have more than 2.4 million electric and gas customers and approximately $20 billion in assets, making it a top 20 North American regulated utility.
TECO Energy, Tampa Electric, Peoples Gas and New Mexico Gas Co. will maintain existing corporate headquarters in Tampa and Albuquerque
ADVERTISEMENT Copyright 2010-15 Energy Choice Matters. If you wish to share this story, please
email or post the website link; unauthorized copying, retransmission, or republication
prohibited.
September 8, 2015
Email This Story
Copyright 2010-15 EnergyChoiceMatters.com
Reporting by Karen Abbott • kabbott@energychoicematters.com
NEW Jobs on RetailEnergyJobs.com:
• NEW! -- Retail Commodity Pricing Analyst -- Retail Supplier
• NEW! -- Senior Retail Analyst -- Retail Supplier
• NEW! -- Manager, Retail Pricing -- Retail Provider
• NEW! -- Director of Pricing, Risk & Portfolio -- Retail Supplier
• NEW! -- Manager/Director, Customer Retention and Satisfaction -- Retail Supplier -- Houston
• NEW! -- Bilingual Rep Support Specialist -- Retail Supplier
• NEW! -- Commercial Sales Support Analyst -- Retail Supplier -- Houston
• NEW! -- Financial Analyst -- Retail Energy Supplier
• NEW! -- Sales Executive -- Retail Supplier
• NEW! -- Manager, Power Retention -- Retail Supplier -- Houston
• NEW! -- Team Lead, Billing -- Retail Provider -- Houston
• NEW! -- Business Development Manager -- Retail Supplier -- DFW
• NEW! -- Senior Analyst - Supply, Portfolio Management - ERCOT -- Retail Supplier
• NEW! -- Power Supply System Administrator -- Retail Supplier
• NEW! -- Operations Analyst -- Retail Supplier -- Houston
• NEW! -- Broker Manager -- Retail Supplier
• NEW! -- Supply & Schedule Analyst -- Retail Supplier
• NEW! -- Business Development Manager - Indirect -- Texas/DFW
• NEW! -- Senior Supply Analyst, Power -- Retail Supplier
• NEW! -- Structuring Analyst -- Retail Supplier
• NEW! -- Quality Assurance Analyst -- Retail Supplier
• NEW! -- Customer Relations Operations Analyst -- Retail Supplier
|
|
|