Eversource Acquires Columbia Gas for $1.1 Billion

HYANNIS-Eversource Energy has announced that they have acquired the assets of Columbia Gas of Massachusetts for $1.1 billion from NiSource. 

The assets from Columbia Gas will be added to the largest energy company in the New England region. 1.5 million electric and 330,000 natural gas customers across Massachusetts are served by Columbia Gas.

Eversource clarified that NiSource will remain responsible for all liabilities related to the gas explosions in the Merrimack Valley in 2018, which resulted in one death and multiple injuries. Columbia Gas agreed to pay a fine of $53 million in a plea agreement.

Eversource will be extending its goal to establish carbon neutral operations by 2030 to Columbia Gas.

Eversource expects the transaction to be closed by the end of this year’s third quarter.

About Brendan Fitzpatrick

Brendan, a recent graduate from the University of Massachusetts Amherst, is one of the newest members of the CapeCod.com NewsCenter team. When not on the beat, you'll probably find him watching Boston sports.

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