Delaware Utility May be Purchased by Local Coop
Posted on Sep 6, 2011 in Mergers/Acquisitions | Comments Off on Delaware Utility May be Purchased by Local Coop
The city of Dover, Delaware’s Utility Committee has hired a consultant study the feasibility of selling the city’s electric utility to Delaware Electric Cooperative. The coop reports that it could be willing to pay around $100 million for Dover’s electric utility, and that its customers would save an average of 25 percent on their electric bills because of the coop’s lower rates. If the sale occurs, the coop would gain 23,000 additional customers, including industrial and commercial users. More details of this potential deal can be found here.
