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Home / Business / Emera Maine to be sold to West Canadian firm for $ 959 million – Business – Bangor Daily News – BDN Maine

Emera Maine to be sold to West Canadian firm for $ 959 million – Business – Bangor Daily News – BDN Maine



On Monday, Emera Inc. said there was a final agreement to sell its interest in Emera Maine to ENMAX Corp. for $ 959 million.

ENMAX is a tool that generates and distributes power and other services to customers in Alberta, Canada.

[Emera Maine customers’ average monthly rate could rise $5.75]

During a press conference at Emera Maines Operations Center in Hampden, representatives of both Emera and ENMAX said they did not expect the electrical interest paid by Mainers or the total number of employees employed by Emera Maine to change as a result of the sale.

"I just want to repeat that we are committed to the customers and the community here in Maine," said Gianna Manes, president and CEO of ENMAX, Monday. "The selling price is out of the price set for Emera Maine, will continue to be set off [Public] Utilities Commission of Maine, and our expectation is that none of the activities we are talking about today regarding ownership change will have any effect on customer rates whatsoever. "

However, Emera Maine informed customers in early March that it is seeking approval from the Maine regulators to increase the rate of distribution, one of five rates on the customer's electrical bill.

This request, which is still in progress despite the advertised sales, may cause a customer to spend an average of 500 kilowatt hours of electricity to see a monthly increase of $ 5.75, said Michael Herrin, Emera Maine's president and chief, the news meeting.

[What’s in store for Emera Maine after parent company sells Rumford plant]

Emera's parents have said in the recent releases that it is planning to sell assets that did not perform well.

On November 26, Emera announced that it would sell its three natural gas-fired production plants in New England, including Rumford Power, to a subsidiary of The Carlyle Group, an asset management company. The transaction is subject to government approval and is expected to close in the first quarter of 2019.

At that time, it did not say what it would do with Emera Maine.

BDN author Lori Valigra contributed to this report. 19659011]

Correction: An earlier version of this report mistakenly stated that ENMAX is a listed company.


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