The Empire District Electric Company Files Unanimous Settlement Agreement in Kansas
October 06 2016 - 5:06PM
Business Wire
The Empire District Electric Company (NYSE:EDE) announced today
a filing with the Kansas Corporation Commission (KCC) of a
Unanimous Settlement Agreement with respect to the joint
application for approval of an Agreement and Plan of Merger filed
on March 16, 2016. The Unanimous Settlement Agreement is subject to
approval by the KCC.
As a condition of the Unanimous Settlement Agreement that was
reached with the staff of the KCC, Empire’s pending rate case is to
be withdrawn and current base rates are to remain in effect through
January 1, 2019.
The agreement also provides that Empire may file a request to
update the current Environmental Recovery Rider to include costs
associated with the Riverton 12 Combined Cycle Project, which are
expected to be approximately $1.2 million.
Regulatory approvals for the transaction have been secured at
the Federal level as well as in Missouri, Oklahoma, and Arkansas. A
decision from Kansas regulators is due no later than January 10,
2017, with an expected transaction close early in 2017.
Based in Joplin, Missouri, The Empire District Electric Company
(NYSE: EDE) is an investor-owned, regulated utility providing
electric, natural gas (through its wholly owned subsidiary The
Empire District Gas Company), and water service, with approximately
218,000 customers in Missouri, Kansas, Oklahoma, and Arkansas. A
subsidiary of the company provides fiber optic services. For more
information regarding Empire, visit www.empiredistrict.com.
Certain matters discussed in this press release are
“forward-looking statements” intended to qualify for the safe
harbor from liability established by the Private Securities
Litigation Reform Act of 1995. Such statements address or may
address future plans, objectives, expectations and events or
conditions concerning various matters such as the pending
acquisition of Empire by Liberty Utilities (Central) Co. (Liberty
Central), a subsidiary of Algonquin Power & Utilities Corp.
(APUC) (the Merger) and rate and other regulatory matters. Actual
results in each case could differ materially from those currently
anticipated in such statements, by reason of the factors noted in
the Company’s filings with the SEC, including the most recent Form
10-K and 10-Q.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20161006006470/en/
The Empire District Electric CompanyMedia
CommunicationsJulie Maus, 417-625-5101Director of
Corporate Communicationsjmaus@empiredistrict.comorInvestor
RelationsDale Harrington, 417-625-5222Director of
Investor Relationsdharrington@empiredistrict.com
Empire Electric (NYSE:EDE)
Historical Stock Chart
From Aug 2024 to Sep 2024
Empire Electric (NYSE:EDE)
Historical Stock Chart
From Sep 2023 to Sep 2024