Business

Published: Thursday, August 30, 2007

Merger of utility giants completed

WALTHAM – British-based National Grid has completed its acquisition of KeySpan, uniting the utility giants to form the second largest energy delivery company in the United States.

KeySpan, based in Brooklyn, is the largest gas utility in the Northeast, serving primarily New York, Massachusetts and New Hampshire. National Grid is an international gas and electric company that operates England’s electric network.

In the U.S., National Grid distributes electricity to nearly 5 million customers in Massachusetts, New Hampshire, New York and Rhode Island. It is the largest power producer in New York State.

National Grid has served customers in the Northeast since 2000.

The acquisition was completed Friday, more than a year after plans were first announced. For the time being, KeySpan companies will continue operating as KeySpan and will transition to the National Grid name next year.

– Ashley Smith