Law360 recently reported that the final challenge in the proposed sale of an EQT Corp. subsidiary to Peoples Natural Gas Co. LLC has been agreed upon by the implementation of an energy-efficiency and conservation plan for customers.
Plans to sell one of EQT’s affiliates to Peoples came in December 2012, followed by Citizens For Pennsylvania’s Future, an environmental group, challenging the pending sale, reported the article titled, “PA Utilities OK Efficiency Plan to Settle Merger.” The environmental group said they would withdraw its protest of the pending merger “after Peoples agreed to commission a study of its demand-side management, or DSM, and develop a subsequent efficiency plan for its customers.”
Peoples agreed to organize a group to lay the groundwork of the study under the terms of the settlement and within 42 months of the closing will commission a third-party contractor to follow through with the energy efficiency and conservation plan.
Representing the EQT affiliate, Equitable Gas Company, is John F. Povilaitis and Alan M. Seltzer.
Read the full article – “PA Utilities OK Efficiency Plan to Settle Merger” (Law360, October 3, 2013)
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