northeast utilities (NU) Key Developments
Spectra Energy Corp., Spectra Energy Partners, LP and Northeast Utilities Announce New England Energy Reliability Solution
Sep 16 14
Spectra Energy Corp., Spectra Energy Partners, LP and Northeast Utilities announced details of the Access Northeast project, designed to reliably meet growing demand for natural gas in New England while providing environmental and economic benefits to the region. This project will help deliver increased, guaranteed daily supplies of natural gas to consumers, as well as enhanced service on peak days for strategic natural gas-fueled electric generation plants, to address New England's reliability concerns and reduce costs paid by the region's electric and gas consumers. The gas pipeline expansion project will enhance the Algonquin and Maritimes pipeline systems, using existing routes to minimize effects on communities, landowners and the environment. The project will be scalable to meet growing needs by expanding access to clean, abundant and affordable natural gas, and will be capable of reliably delivering in excess of one billion cubic feet of natural gas per day to serve the region's most efficient power plants and meet increasing demand from heating customers. Spectra Energy and Northeast Utilities' collaborative proposal includes: Scalable expansion of existing pipeline infrastructure, which is attached to approximately 60% of ISO-NE's natural gas generation capacity; Partnering with existing regional storage assets to provide firm services to electric power plants with guaranteed natural gas supplies on peak days and to enable rapid response to sudden changes in power output; An environmentally-responsible approach that will minimize impact by using existing asset footprints; Additional Algonquin and Maritimes delivery points for local distribution companies (LDCs) to access diverse, low-cost natural gas resources where necessary.
Northeast Utilities Presents at Bank of America Merrill Lynch Power and Gas Leaders Conference, Sep-16-2014 11:45 AM
Sep 13 14
Northeast Utilities Presents at Bank of America Merrill Lynch Power and Gas Leaders Conference, Sep-16-2014 11:45 AM. Venue: The Four Seasons Hotel, Boston, Massachusetts, United States.
Northeast Utilities Declares Quarterly Dividend, Payable on September 30, 2014
Sep 3 14
The Northeast Utilities board of trustees declared a quarterly dividend of $0.3925 per common share, payable on September 30, 2014, to shareholders of record as of the close of business on September 15, 2014.
Northeast Utilities Announces EVP Changes
Aug 15 14
Northeast Utilities appointed Leon Olivier as executive vice president of energy strategy and business development, effective Sept. 2, 2014. In his new role, Olivier will lead Northeast Utilities' newly formed enterprise energy strategy and business development organization, which will focus on ways to solve energy market constraints and challenges in New England, as well as strategies for grid modernization, renewable energy and regional transmission opportunities for the company. Before assuming the new role, Olivier will resign as executive vice president and COO of Northeast Utilities. Werner Schweiger has been appointed and will be formally elected executive vice president and COO of the company, effective Sept. 2. He has been serving as president of electric distribution of Northeast Utilities Service Co. Jan. 16, 2013.
Northeast Utilities Announces Executive Changes, Effective September 2, 2014
Aug 7 14
On August 6, 2014, Northeast Utilities announced that Leon J. Olivier has been appointed and will be formally elected Executive Vice President - Energy Strategy and Business Development of NU, effective September 2, 2014 (the date of the next meeting of the NU Board of Trustees), to lead NU's newly-formed Enterprise Energy Strategy and Business Development organization. NU also announced that Mr. Olivier will resign as Executive Vice President and Chief Operating Officer (principal operating officer) of NU, and that Werner J. Schweiger has been appointed and will be formally elected Executive Vice President and Chief Operating Officer (principal operating officer) of NU, also effective September 2, 2014. Messrs. Olivier and Schweiger will hold these positions until the NU Board of Trustees elects officers following NU's next annual meeting of shareholders and until each of their successors is elected. Prior to assuming this new position, Mr. Schweiger, age 54, will have served as President - Electric Distribution of Northeast Utilities Service Company, from January 16, 2013 until August 11, 2014. He has been appointed and will be formally elected as Chief Executive Officer of each of CL&P, NSTAR Electric, NSTAR Gas, PSNH, WMECO and Yankee Gas effective August 11, 2014.