Trisha Shetty (Editor)

Algonquin Power and Utilities

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Type
  
Public

Key people
  
Ian E. Robertson , CEO

Operating income
  
C$37.8m

CEO
  
Ian E. Robertson (1997–)

Net income
  
23.4 million CAD

Traded as
  
TSX: AQN

Revenue
  
C$276.6m 2011

Headquarters
  
Oakville, Canada

Founded
  
1997

Algonquin Power & Utilities investorsalgonquinpowercominteractivelookandfe

Industry
  
Electric generationWater Utilities

Stock price
  
AQN (TSE) CA$ 12.12 -0.07 (-0.57%)24 Feb, 4:15 PM GMT-5 - Disclaimer

Algonquin power utilities


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.

Contents

Algonquin power utilities corp financial and strategi


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. 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. 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.
  • acquired Gold Canyon Sewer Company in Gold Canyon in 2001
  • acquired Bella Vista Water in Sierra Vista in 2002.
  • acquired Litchfield Park Service Company in Avondale from Pinnacle West Capital in 2003
  • acquired Rio Rico Utilities in Rio Rico in 2005
  • acquired seven water companies in Whetstone and Hereford from the John McLain bankruptcy estate in 2007.
  • acquired Entrada Del Oro Sewer Company in 2008.
  • Arkansas (water)
  • Acquired the Arkansas operations of United Water in 2012.
  • California (electricity, water)
  • Acquired NV Energy's California operations with Emera in 2009; bought out Emera in 2011.
  • Acquired Park Water and Apple Valley Ranchos Water, serving Southern California, in 2016 from The Carlyle Group.
  • Georgia (gas)
  • Acquired the natural gas operation of Atmos Energy in Columbus and Gainesville in 2013
  • Illinois (gas, water)
  • Acquired the water operations of Silverleaf Resorts in 2005.
  • Acquired the natural gas operations of Atmos Energy in Illinois in 2012.
  • Iowa (gas)
  • Acquired the natural gas operations of Atmos Energy in Iowa in 2012.
  • Massachusetts (gas)
  • acquired New England Gas Company in Fall River and North Attleborough from Laclede Group in 2013.
  • Missouri (gas, water)
  • Acquired the water operations of Silverleaf Resorts in 2005.
  • Acquired Noel Water and KMB Utilities in 2011.
  • Acquired the natural gas operations of Atmos Energy in Missouri in 2012.
  • Montana (water)
  • Acquired Mountain Water in 2016 from The Carlyle Group.
  • New Hampshire (gas, electricity)
  • Acquired Granite State Electric and EnergyNorth Natural Gas from National Grid in 2012.
  • Texas (water)
  • Acquired the water operations of Silverleaf Resorts in 2005.

    • In 2016, Liberty Utilities announced a deal to acquire Empire District Electric Company.

    Renewable energy

    Liberty utilities is involved in debates about rooftop solar in New Hampshire and wants to cap a solar policy called net metering. A recent Integrated Resource Plan (IRP) filing from Liberty indicates their desire to charge ratepayers for rooftop solar assets.

    References

    Algonquin Power & Utilities Wikipedia
    (Text) CC BY-SA


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