2 electric utilities in Maine to merge


PORTLAND, Maine (AP) — The parent company of Maine’s second-largest electric utility has agreed to buy the company that owns the state’s third-largest utility.

Under the agreement announced Friday, Emera Inc. subsidiary BHE Holdings Inc. will buy Maine & Maritimes Corp.

BHE Holdings owns Bangor Hydro Electric Co., which has about 115,000 utility customers in eastern and central Maine.

Maine & Maritimes Corp. owns Public Service Co., which has 36,000 customers in far northern Maine.

Regulatory approvals are expected in six to eight months. A spokeswoman says Bangor Hydro and Public Service Co. customers shouldn’t see any immediate changes.