NorthWestern Energy
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NorthWestern Energy Group, Inc. is a utility company that serves South Dakota, Nebraska, and Montana that is based in Sioux Falls. since 2019[update]Template:Dated maintenance category (articles)Script error: No such module "Check for unknown parameters"., the company serves approximately 718,000 customers.[1] The company's corporate headquarters are located in Sioux Falls while the headquarters for the South Dakota operations (and which was the headquarters for the old NorthWestern Public Service Company) are in Huron, South Dakota.
History
The Montana operations (formerly known as the Montana Power Company) were acquired around 2000 after that state passed legislation allowing the electric utility industry to be 'unbundled'. Out of state investors (led by PP&L Resources) then immediately acquired the generation assets of Montana Power, leaving that part of the territory vulnerable to high "spot" prices on the energy market (creating some chronic discontent that led the Montana Public Service Commission to submit the one "no" vote that effectively nullified a potential sale of NorthWestern to Babcock & Brown of Australia). In 2014, NorthWestern purchased the dams that were originally part of Montana Power for $900 Million from PPL Corporation.[2]
Controversies
In March, 2003, a class action was filed against Northwestern Corp, claiming that defendants artificially inflated the stock price through material omissions and materially false and misleading statements. A $41 million settlement fund was established in 2005.[3]
In March 2009, NorthWestern Energy was involved with a gas explosion in Bozeman, Montana. The explosion destroyed several businesses and killed one person. By November, the company was sued by numerous owners of the destroyed businesses.[4]
References
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- ↑ NorthWestern Energy – Our Company
- ↑ NorthWestern Energy closes deal to purchase PPL Montana hydroelectric facilities
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External links
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- Business data for Northwestern Energy Group: Template:Hlist
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- Companies formerly listed on the New York Stock Exchange
- Companies listed on the Nasdaq
- Companies based in Sioux Falls, South Dakota
- Companies based in South Dakota
- Re-established companies
- Electric power companies of the United States
- Natural gas companies of the United States
- NorthWestern Corporation dams
- Companies in the S&P 400