By the end of last year

Eversource Energy will acquire the natural gas assets of Columbia Gas in Massachusetts, US, from its parent company NiSource for $1.1bn.

Columbia Gas of Massachusetts provides natural gas to more than 320,000 customers in south-eastern Massachusetts, the greater Springfield area and the Merrimack Valley, all in the US.

Headquartered in Westborough, US, it provides natural gas service to residential and commercial customers in over 60 communities across the Commonwealth of Massachusetts.

Eversource serves 300,000 natural gas customers and 1.5 million electric customers in 51 communities.

Until the close of the transaction, NiSource will continue to drive customer safety and service at Columbia Gas. It will also make ongoing improvements in all areas of operations going forward.

The parties expect the transaction to close by the third quarter of this year, subject to various closing conditions.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

NiSource president and CEO Joe Hamrock said: “We believe this transaction will create the right next chapter for the customers and communities that Columbia Gas of Massachusetts serves throughout the state and provide Columbia Gas employees an opportunity to join a strong organization with deep roots in the region.”

Through its Colombia Gas and NIPSCO brands, NiSource serves around 3.5 million natural gas customers and 500,000 electric customers across seven states.

In a separate development, Columbia Gas of Massachusetts has agreed to pay a $53m fine for the 2018 Merrimack Valley gas explosions. The incidents took place in Lawrence, Andover and North Andover in September 2018, killing one individual and injuring 22.

In July 2019, Columbia Gas of Massachusetts and NiSource announced a settlement of all class-action lawsuits based on the incidents. Plaintiffs include several residents and businesses affected by the incident.

The company had dedicated around $1bn in funds have to address those affected.