Energy East

Type: Subsidiary
On the web: http://www.energyeast.com

Energy East has evolved into a major regional player. The utility holding company distributes electricity and natural gas in four northeastern states through subsidiaries Berkshire Gas, Central Maine Power, Connecticut Natural Gas, Maine Natural Gas, New York State Electric & Gas, Rochester Gas and Electric, and Southern Connecticut Gas. Energy East serves about 2 million electricity customers as well as 1 million natural gas customers. Other operations include power generation, energy marketing, gas transportation and processing, propane distribution, telecommunications, and energy infrastructure and management services. In 2008 Energy East was acquired by Spanish energy titan IBERDROLA for $4.5 billion.

Officers:
Chairman, President, and CEO: Wesley W. von Schack
SVP and CFO: Robert D. Kump
VP Information Technology: Patrick Neville

Competitors:
Bangor Hydro-Electric
Con Edison
National Grid USA

Energy East is a Fortune 500 company that serves 2.9 million public utility customers with energy, primarily electricity and natural gas.

Contents 1 Subsidiaries 2 Other ventures 3 News 4 References 5 External links

Subsidiaries

• Berkshire Gas [1]
• CMP - Central Maine Power [2]
• CNG - Connecticut Natural Gas [3]
• NYSEG - New York State Electric and Gas Corporation [4]
• RGE - Rochester Gas and Electric [5]
• SCG - Southern Connecticut Gas [6]
• USS - Utility Shared Services - Formed in 2003 to provide IT, HR, Purchasing, Finance and Accounting services for the six regulated utilities.

Other ventures

• Central Maine Gas - a tiny natural gas company serving customers around Brunswick, ME
• Energetix! - an unregulated utility based in Rochester, NY
• New Hampshire Gas - a small propane/air utility in New Hampshire

News

In 2007 the Spanish electrical company Iberdrola agreed to purchase Energy East. The deal closed on September 17, 2008, valuing each Energy East share at $28.50. This represents a premium of 20.2% over the average share price for the 30 days prior to the offer announcement.^[1]

References

1. ^ http://www.rge.com/MediaLibrary/2/5/Content%20Management/Shared/OurCompany/PDFs%20and%20Docs/ibdclosing917.pdf

External links

• Energy East website

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