Emera to buy Teco Energy for $10.4bn
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6 September 2015
Canadian energy utility Emera has signed a definite agreement to acquire US based energy utility Teco Energy in a $10.4bn transaction aiming to increase it portfolio in the US.
Teco Energy owns and operates utilities including Tampa Electric, Peoples Gas and New Mexico Gas.
The transaction includes assumption of about $3.9bn in debt.
Majority of the assets under Teco Energy is in Florida, where the firm operates Tampa Electric and the regulated natural gas utility Peoples Gas.
While 56% of Teco’s assets are based in the US state, 23% is in Canada, 10% in New England, 6% in New Mexico and 5% in the Caribbean.
Xcel Energy reaffirms 2021 EPS earnings guidance of $2.90 to $3.00.
Xcel Energy Inc. (NASDAQ: XEL) today reported 2021 first quarter GAAP and ongoing earnings of $362 million, or $0.67 per share, compared with $295 million, or $0.56 per share in the same period in 2020.
Earnings reflect higher electric and natural gas margins, which more than offset additional depreciation, interest charges and less allowance for funds used during construction (AFUDC).
“Xcel Energy had a strong first quarter and we are reaffirming our expectation to deliver earnings within our annual guidance range,” said Ben Fowke, chairman and CEO. “We are also pleased to have achieved a significant milestone, reducing carbon emission 51% from 2005 levels, bringing us more than halfway to our vision of delivering 100% carbon-free electricity to our customers by 2050.”
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Government entities, utilities and watchdog groups say a merger between Public Service Company of New Mexico and Avangrid could harm both ratepayers and the environment unless protections are included.
These entities filed testimony in a New Mexico Public Regulation Commission case evaluating the merger. This merger is subject to the PRC approval as well as approval from the Federal Energy Regulatory Commission.
PNM’s parent company, PNM Resources, is seeking to merge with Avangrid, a U.S. subsidiary of renewable energy giant Iberdrola, which is based in Spain.
The PRC hearings related to the merger are scheduled to start on May 3 and testimony has been filed expressing a variety of concerns.