Ferrellgas Acquires Kaw Valley Propane
Posted on Jun 19, 2014 in Mergers/Acquisitions | Comments Off on Ferrellgas Acquires Kaw Valley Propane
Ferrellgas Partners, L.P. (Ferrellgas) recently acquired Kaw Valley Propane from Kaw Valley Electric Cooperative, based in Topeka, Kansas. This acquisition marks Ferrellgas’ fifth retail propane acquisition since August 2013. Read more about this story here.
New Mexico City Plans to Acquire Coop
Posted on May 9, 2014 in Legislative & Politics, Mergers/Acquisitions, Rates | Comments Off on New Mexico City Plans to Acquire Coop
The City of Socorro, New Mexico, has plans to acquire Socorro Electric Cooperative (SEC), said the city’s mayor, Ravi Bhasker. Recently energy costs have been significantly higher in Socorro than in other New Mexico cities. Click here for more.
Alaska Coop Takes Over Territory
Posted on May 9, 2014 in Grid & Infrastructure, Mergers/Acquisitions | Comments Off on Alaska Coop Takes Over Territory
Alaska Village Electric Cooperative (AVEC) has completed a takeover of a service territory from Bethel Utilities Corporation. The takeover brings the number of AVEC’s customers from around 8,000 to around 10,800. Click here for more.
Alliant and Minnesota Coops File Application for Sale with PUC
Posted on Apr 21, 2014 in Mergers/Acquisitions | Comments Off on Alliant and Minnesota Coops File Application for Sale with PUC
Alliant Energy (Alliant) and a number of Minnesota coops filed an application with the Public Utilities Commission (PUC) for the sale of Alliant’s distribution business to the coops. The coops would increase their membership and have proposed rates that are more favorable to members than the rates projected by Alliant should it continue its distribution business. The Albert Lea...
New Mexico City to Receive Power from Coop
Posted on Mar 31, 2014 in Grid & Infrastructure, Mergers/Acquisitions, Rates | Comments Off on New Mexico City to Receive Power from Coop
The City of Gallup, New Mexico, will buy its wholesale power from Continental Divide Electric Cooperative (CDEC) after its City Council voted unanimously to award CDEC an eight-year contract. Four other bidders sought the contract, and Public Service Company of New Mexico (PNM) has been Gallup’s provider for more than 50 years. Gallup will save about $6.4 million during the first...
Sutherland Adds European Presence
Posted on Mar 18, 2014 in Mergers/Acquisitions, Press Release | Comments Off on Sutherland Adds European Presence
Arbis LLP and Sutherland Asbill & Brennan LLP are pleased to announce that they have combined to create a premier global energy practice with significant depth and experience advising on physical and derivative commodity trading transactions and disputes. “We are delighted to join forces with Sutherland,” said London Co-Partner-in-Charge Paul Sinnott. “Together, we now have a...
Minnesota Coop May Expand Service Territory
Posted on Nov 27, 2013 in Mergers/Acquisitions, Regulation & Policy | Comments Off on Minnesota Coop May Expand Service Territory
Federated Rural Electric Association, a member of the Southern Minnesota Energy Cooperative, may expand its service area in southwest Minnesota and acquire an additional 1,700 customers from Alliant Energy’s customer base. The purchase is rumored for 2014 and would be subject to approval by the Minnesota Public Utilities Commission. Read more here.
Alaska Coop to Buy Private Utility
Posted on Nov 12, 2013 in Grid & Infrastructure, Mergers/Acquisitions, Project Development, Rates, Regulation & Policy | Comments Off on Alaska Coop to Buy Private Utility
The Regulatory Commission of Alaska has recently approved an asset purchase agreement in which Alaska Village Electric Cooperative will buy the assets of Bethel Utility Corp., a privately owned utility. This acquisition will boost the Anchorage-based coop’s overall demand for electricity by more than 50 percent and resulting in savings for new members. Read more here.
Alaska Coop Seeks Purchase of For-Profit Utility
Posted on Oct 14, 2013 in Corporate Governance, Mergers/Acquisitions, Rates, Regulation & Policy | Comments Off on Alaska Coop Seeks Purchase of For-Profit Utility
Alaska Village Electric Cooperative (AVEC), which serves Western Alaska, is seeking to buy Bethel Utilities Corporation (BUC), a for-profit company. According to AVEC’s President, the buyout, on schedule to become effective this Spring, would cut electric rates for customers of both entities. BUC’s rates could drop by 8 to 10 percent immediately. The two entities jointly sought...
Georgia Coop Settles Class Action Over Patronage Capital for $98 Million
Posted on Oct 11, 2013 in Corporate Governance, Derivative Suits, Litigation, Mergers/Acquisitions, Patronage Capital, Regulation & Policy | Comments Off on Georgia Coop Settles Class Action Over Patronage Capital for $98 Million
After nearly four years of litigating a class action over patronage capital, Cobb EMC has agreed to pay a $98 million settlement to nearly one million of its current and former members. The plaintiffs are to receive their portion of patronage capital (or “capital credits”) they were allegedly owed but never paid. The Marietta Daily Journal has more.
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