West / Regional Reports

Montana Power Company Reaches Deal

BUTTE, MT — Recently, a settlement was reached involving the sale of Montana Power’s sale of its energy businesses. The power company will also sell its utility and invest in the telecommunications broadband network, Touch America Holdings, Inc.

Representatives from energy companies and consumers reached a deal on issues related to the sale of the utility to NorthWestern Corporation.

Part of the settlement calls for the establishment of a $30 million account by NorthWestern and Montana Power to be used as credit towards electric customers of Montana Power. This credit would be approximately $3.25 per month for one-year and would begin on July 1.

Before this settlement can be finalized, the Montana Public Service Commission must give a final approval. A hearing to discuss approval has been set for Jan. 16. The decision is expected to be made no later than Jan. 31.

Finally, the sale of the utility will cost NorthWestern $602 million along with the assumption of $488 million in debt.

Northwest/Upper Midwest: A deal has finally been made in the sale of Montana Power’s utility to NorthWestern Corporation. The settlement of the deal now awaits approval from the Montana Public Service Commission.

Publication date: 01/14/2002

Did you enjoy this article? Click here to subscribe to The NEWS Magazine

Recent Articles by James Siegel

You must login or register in order to post a comment.

Multimedia

Videos

Image Galleries

2015 ACCA Conference

Images from the 2015 ACCA Conference in Grapevine, Texas. Posted on April 8, 2015.

Podcasts

NEWSMakers: Mark Crockett
Mark Crockett vice president, Crockett Facilities Services, explains the importance of technician training, the value of being a top minority-owned company in the U.S., current projects the company is managing, and much more. Posted on April 24.
More Podcasts

ACHRNEWS

NEWS 04-20-15 cover

2015 April 20

Check out the weekly edition of The NEWS today!

Table Of Contents Subscribe

Global Warming

Do you believe in man-made global warming?
View Results Poll Archive

HVACR INDUSTRY STORE

2015.jpg
2015 National Plumbing & HVAC Estimator

Every plumbing and HVAC estimator can use the cost estimates in this practical manual!

More Products

Clear Seas Research

 

Clear Seas ResearchWith access to over one million professionals and more than 60 industry-specific publications, Clear Seas Research offers relevant insights from those who know your industry best. Let us customize a market research solution that exceeds your marketing goals.

DON'T MISS A THING

Magazine image
 
Register today for complete access to ACHRNews.com. Get full access to the latest features, Extra Edition, and more.

STAY CONNECTED

facebook icontwitter iconyoutube iconLinkedIn i con