Deal will lead to smaller increase for Liberty Utilities power customers [Yahoo! Finance]
Algonquin Power & Utilities Corp. Common Shares (AQN)
Last algonquin power & utilities corp. common shares earnings: 2/27 07:54 pm
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Source: Yahoo! Finance
electric customers in February but avert ratepayers paying nearly $40 million more over three years, according to officials. The state Public Utilities Commission still must approve the deal, which comes after state energy officials said in PUC filings that "Liberty has not met and cannot meet its burden to prove that its proposed rates are just and reasonable." Under the deal, Liberty would not be able to request another rate change until 2026. Don Kreis, who heads the state's Office of the Consumer Advocate, signed off on the deal and questioned Liberty's ability to run the company. "Ultimately I think the answer here is for the parent company — Algonquin Power & Utilities Corp. in Ontario — to sell the two Liberty affiliates in New Hampshire to a company that can operate them competently," Kreis said in an email. The Department of Energy's statement said the agreement "will save Liberty customers almost $40 million of the proposed increase" over three years. "Obviously,
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