Algonquin Power & Utilities
 | |
| Public | |
| Traded as | TSX: AQN |
| Industry |
Electric generation Water Utilities |
| Founded | 1997 |
| Headquarters | Oakville, Ontario, Canada |
Key people | Ian E. Robertson , CEO |
| Revenue | C$276.6m 2011 |
| C$37.8m | |
| C$23.4m | |
| Total assets | C$1,282m |
| Website | www.algonquinpower.com |
Algonquin Power & Utilities Corp. is a renewable energy and regulated utility company with assets across North America. Algonquin actively invests in hydroelectric, wind and solar power facilities, and sustainable utility businesses (water, electricity and natural gas) through its two operating subsidiaries: Algonquin Power Co. and Liberty Utilities.
Public listing
Algonquin Power Income Fund was established in September 1997 and first listed its trust units on the Toronto Stock Exchange on December 23, 1997.[1] Having raised nearly $75m, Algonquin used $27.5m to purchase 14 hydroelectric generation facilities located in Ontario, Québec, New York and New Hampshire.
Conversion to corporation
In response to the Government of Canada's decision to end the preferential tax treatment of income trusts, Algonquin Power Income Fund was converted to a corporation in October 2009.[2] Unit-holders exchanged their trust units on a one-for-one basis for shares in the new corporate entity, Algonquin Power & Utilities.
Liberty Utilities
Liberty Utilities operates in the following locations:
- Arizona (water)
- acquired Boulders Carefree Sewer Company in Carefree in 2001.[3]
- acquired Gold Canyon Sewer Company in Gold Canyon in 2001[4]
- acquired Bella Vista Water in Sierra Vista in 2002.[5]
- acquired Litchfield Park Service Company in Avondale from Pinnacle West Capital in 2003[6]
- acquired Rio Rico Utilities in Rio Rico in 2005[7]
- acquired seven water companies in Whetstone and Hereford from the John McLain bankruptcy estate in 2007.[8][9]
- acquired Entrada Del Oro Sewer Company in 2008.[10]
- Arkansas (water)
- Acquired the Arkansas operations of United Water in 2012.[11]
- California (electricity, water)
- Georgia (gas)
- Acquired the natural gas operation of Atmos Energy in Columbus and Gainesville in 2013[16]
- Illinois (gas, water)
- Acquired the water operations of Silverleaf Resorts in 2005.[17]
- Acquired the natural gas operations of Atmos Energy in Illinois in 2012.[18]
- Iowa (gas)
- Acquired the natural gas operations of Atmos Energy in Iowa in 2012.[18]
- Massachusetts (gas)
- acquired New England Gas Company in Fall River and North Attleborough from Laclede Group in 2013.[19]
- Missouri (gas, water)
- Acquired the water operations of Silverleaf Resorts in 2005.[17]
- Acquired Noel Water and KMB Utilities in 2011.[20]
- Acquired the natural gas operations of Atmos Energy in Missouri in 2012.[18]
- Montana (water)
- Acquired Mountain Water in 2016 from The Carlyle Group.[21]
- New Hampshire (gas, electricity)
- Acquired Granite State Electric and EnergyNorth Natural Gas from National Grid in 2012.[22][23]
- Texas (water)
- Acquired the water operations of Silverleaf Resorts in 2005.[17]
In 2016, Liberty Utilities announced a deal to acquire Empire District Electric Company.[24]
Renewable energy
Liberty utilities is involved in debates about rooftop solar in New Hampshire and wants to cap a solar policy called net metering.[25] A recent Integrated Resource Plan (IRP) filing from Liberty indicates their desire to charge ratepayers for rooftop solar assets.[26]
References
- ↑ Algonquin Power Annual Report, 1997
- ↑ Algonquin Power Annual Report, 2009
- ↑ 1500038078.PDF (PDF), retrieved 2015-02-14
- ↑ Martori, Art (2011-10-07). "Sewer, management of plant raise stink for some in Gold Canyon". East Valley Tribune. Retrieved 2015-02-14.
- ↑ Saunders, Diane (2002-06-06). "Bella Vista Water Co. stock sold; no change in service to local customers". The Sierra Vista Herald. Retrieved 2015-02-14.
- ↑ "ALGONQUIN POWER INCOME FUND ANNUAL INFORMATION FORM MARCH 31, 2006". Retrieved 2015-02-14.
- ↑ "Algonquin Power Income Fund Acquires Rio Rico Utilities Inc.". 2005-12-13.
- ↑ Cole, Dana (2006-09-12). "Algonquin Water ready to take over McLain companies". The Sierra Vista Herald. Retrieved 2015-02-14.
- ↑ Cole, Dana (2007-02-21). "Algonquin purchase of McLain water companies finalized". The Sierra Vista Herald. Retrieved 2015-02-14.
- ↑ "Algonquin Power & Utilities Corp. Announces 2010 Fourth Quarter and Year End Financial Results" (PDF). Retrieved 2015-02-14.
- ↑ "United Water Sells Arkansas Regulated Operations". Retrieved 2015-02-14.
- ↑ "UPDATE 2-Algonquin, Emera to jointly buy some NV Energy assets". Reuters. 2009-04-23. Retrieved 2014-09-16.
- ↑ "Algonquin and Emera announce a Strategic Investment Agreement and the transfer of California Utility to Algonquin". Retrieved 2014-09-16.
- ↑ Liberty Utilities Completes Acquisition of Park Water Company
- ↑ Dezember, Ryan (2014-09-19). "Algonquin Power in Pact to Buy Carlyle's Park Water Despite Dispute". Wall Street Journal. ISSN 0099-9660. Retrieved 2015-02-14.
- ↑ "Liberty Utilities Completes Acquisition of Atmos Energy’s Natural Gas Distribution Businesses in Georgia". Retrieved 2015-02-14.
- 1 2 3 "Silverleaf Resorts sells utility assets in Missouri, Illinois". St. Louis Business Journal. 2005-03-16. Retrieved 2015-02-14.
- 1 2 3 Liberty Utilities Completes Acquisition of Atmos Energy’s Natural Gas Distribution Businesses in Illinois, Iowa and Missouri
- ↑ "Laclede to flip New England Gas for a $14 million profit - St. Louis Business Journal". Retrieved 2015-02-14.
- ↑ "Jefferson County water company sold - St. Louis Business Journal". Retrieved 2015-02-14.
- ↑ Liberty Utilities Completes Acquisition of Park Water Company [Mountain Water]
- ↑ Liberty Utilities Completes Acquisition of National Grid’s Natural Gas and Electric Distribution Businesses in New Hampshire
- ↑ "Algonquin Power to buy two utilities in New Hampshire". Platts. Retrieved 2015-02-14.
- ↑ Empire District Electric agrees to be acquired by Canadian company for $2.4 billion
- ↑ "Solar Industry On The Clock As Time Runs Out For Net Metering In New Hampshire". CleanTechnica. Retrieved 2016-02-02.
- ↑ "Liberty Utilities: Have You No Shame?". Tea Party Tribune. Retrieved 2016-02-02.