This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

NorthWestern Energy Submits Request To Purchase Hydroelectric Facilities









BUTTE, Mont., Dec. 20, 2013 /PRNewswire/ -- NorthWestern Corporation d/b/a NorthWestern Energy (NYSE: NWE) today submitted its formal request to the Montana Public Service Commission to approve the purchase of 11 hydroelectric generating facilities and related assets from PPL Montana, LLC, a wholly owned subsidiary of PPL Corporation (NYSE: PPL).

The filing initiates the formal regulatory process necessary to complete the previously announced $900 million agreement between the two companies.  In addition, the company is asking permission to include the hydro assets into the company's rate base and to issue the securities necessary to complete the purchase.

"This proposed acquisition, if approved by the Montana Commission, will provide tremendous long-term benefits to our customers," said Bob Rowe, CEO.  "Other utilities would love to have the chance to diversify their supply portfolios with hydro power.  Opportunities like this come around rarely – if ever.  We believe strongly that these are the best possible resources to serve our customers – that's what they were originally built to do.  If approved by the Commission, they will be permanently dedicated to serve our Montana electric customers, with future prices based on the cost of production, not on prices in the western power market."

The filing outlines the various long-term customer benefits including greater resource adequacy and reliability; stable and reasonable costs/prices; and a more diversified portfolio featuring environmentally responsible, lower risk supply resources.  It also confirms commitments to proceed with the transfer of Kerr Dam to the Confederated Salish and Kootenai Tribes, to maintain a strong presence in the river communities and to be a responsible steward of the facilities and river.  

"We have received overwhelming support for this transaction from our customers and communities since announcing it earlier this fall," added Rowe.  "This really is a significant opportunity for the PSC to approve the addition of utility-owned, regulated hydroelectric generation to NorthWestern's electricity supply resource portfolio."

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,051.73 -48.45 -0.28%
S&P 500 1,973.63 -4.59 -0.23%
NASDAQ 4,424.7040 -7.4420 -0.17%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs