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.