Federal Energy Regulatory Commission Approves Aquila Transactions With Great Plains Energy and Black Hills Corporation
Posted on: Friday, 19 October 2007, 15:00 CDT
The Federal Energy Regulatory Commission (FERC) announced yesterday that it has approved the proposed sale by Aquila, Inc (NYSE:ILA) of its electric utility in Colorado to Black Hills Corporation (NYSE:BKH), and the proposed acquisition of Aquila by Great Plains Energy Incorporated (NYSE:GXP).
On May 25, the companies filed a joint application with the FERC requesting approval under Section 203 of the Federal Power Act for the proposed sale and acquisition. The filing relates to previously announced agreements for Black Hills to acquire Aquila's gas utility operations in Colorado, Iowa, Kansas and Nebraska and Colorado electric utility operations, and immediately thereafter for Great Plains Energy to acquire Aquila. The consummation of the transactions remains subject to state regulatory approvals in Colorado, Kansas and Missouri and the satisfaction of other closing conditions.
Based in Kansas City, Mo., Aquila owns electric power generation and operates electric and natural gas transmission and distribution networks serving approximately 900,000 customers ion Colorado, Iowa, Kansas, Missouri and Nebraska. More information is available at www.aquila.com.
Great Plains Energy, headquartered in Kansas City, Mo., is the holding company for KCP&L, a leading regulated provider of electricity in the Midwest, and Strategic Energy, LLC, a competitive electricity supplier. The company's website is www.greatplainsenergy.com.
Black Hills Corporation is a diversified energy company. The company's retail businesses are Black Hills Power, an electric utility serving western South Dakota, northeastern Wyoming and southeastern Montana; and Cheyenne Light, Fuel & Power, an electric and gas distribution utility serving the Cheyenne, Wyoming vicinity. Black Hills Energy, the wholesale energy business unit, generates electricity, produces natural gas, oil and coal, and markets energy. More information is available at our Internet website: www.blackhillscorp.com.
Source: Business Wire
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