National Grid buys US gas company

[Judi Lynn]

Last Updated: Monday, 27 February 2006, 09:47 GMT

National Grid buys US gas company


UK utility group National Grid has agreed to buy US gas distributor Keyspan for $7.3bn (£4.1bn) in cash.

Keyspan is the fifth-largest gas distributor in the US, with more than 2.6 million gas customers.

National Grid will also take on $4.5bn in debt. It said it expected to make savings of $200m a year when the deal is completed.

"Keyspan is a natural extension of our business and our strategy," said National Grid chief Roger Urwin.
(snip/...)

http://news.bbc.co.uk/1/hi/business/4754350.stm

[EuroObserver]

1. Great. Now we can bring New England to its knees

any time we like.

Hey, only joking :evilgrin:

[liberal N proud]

2. The bu$h regime is just selling off ameriKa

[pnorman]

3. This isn't new by any means.

Here's a Greg Palast article (POWER OUTAGE TRACED TO DIM BULB IN WHITE HOUSE), on that massive power outage of a few years ago, that was traced to a British firm (also owned by National Grid): http://www.gregpalast.com/detail.cfm?artid=258&row=1

pnorman

[senaca]

8. Significant article in relation to what's happening to the port sale.

I'm hoping that when Congress legislation to block the Port sale, that it will, also, legislate that a foreign company cannot own a significant portion of our energy/electrical grid system. There has to be a line drawn that there are some operations in the U.S. that are in our vital interest that cannot be outside U.S. hands. Not that this administration would do this but we should should recind deregulation of the energy system. Enron should have been our first clue that this was a bad idea.

[madmark]

4. just don't flip it to UAE/Saudi et al

[Earth_First]

5. National Grid purchased our energy supplier (Niagara Mohawk) last year...

They seem eager to purchase American energy providers...

[KoKo]

6. Blair and Bush....joined at the hip?

Payoff time for our Chief Coalition Partner in the Doctrine of Pre-Emptive Strike?

Is this a move against the European Union? Or just good business for Blair/Bush.

[angryxyouth]

7. Next the Brits will sell to the UAE.

Soon the Saudies will be incharge of all of our energy needs. :banghead:

[Chemical Bill]

9. Now they can cut off your gas and electric at the same time. n/t