electric

In a joint filing with the New Jersey Board of Public Utilities, Southern Company and AGL Resources requested regulatory approval of the companies' proposed merger. AGL Resources is the parent company of Elizabethtown Gas. When completed, the combination of Southern Company and AGL Resources is expected to create the second-largest utility company in the U.S. by customer base.

Southern Company and AGL Resources boards of directors approved a definitive merger agreement to create an electric and gas utility company. Pursuant to the agreement, AGL Resources will become a new wholly owned subsidiary of Southern Company in a transaction with an enterprise value of approximately $12 billion, including a total equity value of approximately $8 billion.

RES America Developments entered into a 20-year PPA with Wolverine Power Supply Cooperative (Wolverine) for 114 MW of wind energy and associated renewable energy credits in the Thumb of Michigan. The wind power will be sourced from the Deerfield Wind Energy project, which is located in Huron County, Michigan. RES Americas developed and will construct the project and Wolverine, which is owned by and supplies wholesale electric power to seven members, will be the recipient of the 114 MW of electricity generated by the project.

NTE Carolinas entered into a long-term PPA with the City of Concord, North Carolina. Under the terms of the agreement, NTE's Kings Mountain Energy Center will provide Concord with electric generation services for an initial 20-year term. In July 2014, NTE secured an equity investment for its three natural gas-fired power plants, including the Kings Mountain Energy Center, from Capital Dynamics and Wattage Finance. Construction of the facility is anticipated to begin in the second-quarter 2015, and commercial operation is scheduled to begin in the first-quarter 2018.