PEARL RIVER – Orange and Rockland Utilities, based in Pearl River and Corning National Gas Holding Corp. announced on Wednesday that Corning will purchase O&R’s Pennsylvania electric and gas utility subsidiary, Pike County Light and Power Co. for $16 million.
PCLP provides electric service to approximately 4,600 customers in the towns of Westfall, Milford and the northern part of Dingman and in the boroughs of Milford and Matamoras. It is one of three companies serving Pike and historically has charged higher rates than the other two.
PCLP provides natural gas service to 1,200 customers in Westfall Township and the Borough of Matamoras.
O&R spokesman Michael Donovan said until the sale is approved by regulators at mid-2016, operations will continue as is.
“Between now and then it will be business as usual,” Donovan said. “O&R will still be delivering the gas and electric. They will still be doing repairs; they will be doing billing, also answering any questions you have. It’s the same customer service number to talk to people about electric and gas service. It’s the same number to report a natural gas leak.”
O&R President Tim Cawley said they have found “strong market interest in PCLP from a number of good companies. One company stood out among the others in terms of resources, customer focus and emphasis on service reliability – that’s what brought us to today.”
The companies expect to close on the sale in mid-2016.
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