Energy Choice
                            

Matters

Archive

Daily Email

Events

 

 

 

About/Contact

Search

Pennsylvania Utility With Choice Program To Be Sold

November 6, 2015

Email This Story
Copyright 2010-15 EnergyChoiceMatters.com
Reporting by Karen Abbott • kabbott@energychoicematters.com

Consolidated Edison, Inc. disclosed in a 10-Q that, in October 2015, upon evaluating strategic alternatives, its Orange & Rockland (O&R) subsidiary entered into an agreement to sell Pike County Light & Power Company to Corning Natural Gas Holding Corporation for $16 million, including estimated working capital adjustments.

The closing of the sale, which the company expects to occur within the next twelve months, is subject to certain regulatory approvals by the New York PSC, FERC and Pennsylvania Public Utility Commission.

At September 30, 2015, Consolidated Edison, Inc. classified the related electric and gas assets and liabilities as held for sale and ceased recording depreciation expense on these assets. O&R recorded an impairment charge of $5 million ($3 million net of taxes), representing the difference between the carrying amount of Pike’s assets and the estimated sales proceeds.

ADVERTISEMENT
NEW Jobs on RetailEnergyJobs.com:
NEW! -- Operations Analyst -- Retail Supplier -- Houston
NEW! -- ERCOT Business Development Manager -- Retail Supplier -- Houston
NEW! -- Channel Manager -- Retail Supplier
NEW! -- Marketing/Channel Manager -- Retail Supplier -- Houston
NEW! -- Supplier Services Account Executive
NEW! -- Manager, Operations -- Retail Supplier -- Houston
NEW! -- Settlements Analyst -- Retail Supplier
NEW! -- Data Administrator -- Retail Supplier
NEW! -- Energy Services Program Director - $230K

Email This Story

HOME

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.

 

Archive

Daily Email

Events

 

 

 

About/Contact

Search