Emera's ME utilities seek merger
Bangor Hydro Electric is seeking an official merger with its sister subsidiary, Maine Public Service, which is the third largest transmission and distribution utility in the state.
Nova Scotia-based Emera Inc., which owns Bangor Hydro, acquired MPS in December 2010 and since that time has been aligning its operations with Bangor Hydro, according to a press release. But the companies have continued to operate and set rates separately.
The company expects that a decision on the merger request, filed late Thursday, will take until the summer of 2013 to complete.
According to the latest state statistics, Bangor Hydro is the state's second largest electricity utility with nearly 135,000 customers. MPS has around 37,500 customers. Central Maine Power Co., the state's largest utility, had 605,000 customers.
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