Regulators launch probe into Bangor Gas' parent co.
Energy regulators in Ohio plan to launch an investigative audit into Gas Natural Inc., the parent company of Bangor Gas Co., a move one Maine official said is worrying.
The Bangor Daily News reported the 65-page order calling for an investigation of the company alleges multiple instances of mismanagement at the company, including unawareness and negligence of senior management to managerial and fiduciary duties, failure to have appropriate separation between its regulated and nonregulated subsidiary companies and a failure to show its purchasing practices were fair and reasonable.
Tim Schneider, the public advocate for Maine’s Public Utilities Commission, told the paper that the agency is “very concerned” about what he called “revelations” in the Ohio report. While Bangor Gas does not buy its gas from an affiliate as in Ohio, Schneider said regulators will be looking into the Bangor company’s relationship with other Gas Natural affiliates.
The paper reported that company officials did not respond to requests for comment Tuesday.
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