3. Description of the Joint Applicants
California Pacific Electric Company, LLC (CalPeco)
CalPeco is a California limited liability company and a regulated electric utility subject to the Commission's jurisdiction. CalPeco's service territory covers parts of following seven counties in the Lake Tahoe area: Alpine, El Dorado, Mono, Nevada, Plumas, Placer, and Sierra. CalPeco is a wholly owned by CPUV.
California Pacific Utility Ventures, LLC (CPUV)
CPUV is a California limited liability company. It is the sole owner and direct parent of CalPeco. CPUV is currently owned 50.001% by Liberty Energy Utilities Co. and 49.999% by Emera US Holdings, Inc.
Liberty Energy Utilities Co. (Liberty Energy)
Liberty Energy is a Delaware corporation that holds a 50.001% ownership interest in CPUV, the direct parent of CalPeco. Liberty Energy also owns several other small electric and natural gas utilities. Pursuant to previously announced agreements, Liberty Energy plans to acquire (1) Granite State Electric Company, an electric utility with 43,000 customers in New Hampshire; (2) EnergyNorth Natural Gas Inc., a natural gas utility with 83,000 customers in New Hampshire; and (3) the natural gas utility assets of Atmos Energy Corp. that serve 84,000 customers in Missouri, Iowa, and Illinois.
Algonquin Power & Utilities Corp. (Algonquin)
Algonquin is a Canadian corporation whose common shares are traded on the Toronto Stock Exchange. Through its operating subsidiaries, Algonquin owns renewable electric generation and utility businesses in North America. Algonquin indirectly owns 50.001% of CalPeco through its wholly-owned subsidiary, Liberty Energy.2
Emera US Holdings Inc. (EUSHI)
EUSHI is a Delaware corporation that currently holds a 49.999% ownership interest in CPUV. EUSHI is a wholly-owned subsidiary of Emera Incorporated.
Emera Incorporated (Emera)
Emera is an energy holding company incorporated under the laws of the Province of Nova Scotia, Canada. Its common shares are traded on the Toronto Stock Exchange. Emera has approximately $6.6 billion of assets (Canadian). It owns electric utilities, natural gas utilities, and unregulated businesses involved in energy marketing and electric generation. Emera indirectly owns 49.999% of CalPeco through its wholly-owned subsidiary, EUSHI.
2 Algonquin owns Liberty Energy through its wholly owned subsidiary, Liberty Utilities Co., which, in turn, owns 100% of Liberty Energy.
