Montana Public Power back on track?

By jhwygirl

A late breaking AP story is reporting that Governor Schweitzer met with Mike Kadas and other representatives of Montana Public Power, Inc., and has agreed to see what assistance, if any, his staff can offer towards helping MPPI purchase Northwestern Energy.

MPPI includes 5 cities – Bozeman, Butte-Silverbow, Great Falls, Helena and Missoula – who have committed to a publicly owned utility, similar to a co-op, once it has successfully acquired Northwestern. Kadas heads the group, and is former mayor of the City of Missoula who was also a representative in the Montana Legislature for 14 years.

Last July, Northwestern’s board of directors rejected MPPI’s bid of $2 billion + an assumption of more than $800 million in debt, saying it wasn’t in the best interests of its shareholders or its customers. They later accepted an offer of $2.97 million from Babcock & Brown, of Australia – an offer which was blocked by all five members of the Montana Public Service Commission a little over a week ago.

Citigroup had previously agreed to finance the deal. That’s a pretty serious offer – Citigroup closed at $54.51 today, while Northwestern Energy closed at $32.97.

Count me in as one Montanan that hopes that this is the first step in a successful bid by MPPI to acquire Northwestern and provide public ownership of Montana’s largest energy provider. Let’s hope the Governor can pull through on this one.

  1. Yay! It’s good to see material go up on 4&20 b’birds again…

  2. March Duke

    “Yay! It’s good to see material go up on 4&20 b’birds again…”

    It’s just junk from Shane’s junk blog. Are you serious?

  3. Classy.

    I know this is jhwygirl’s blog now, but I’m still going to ban you. Good bye.

  4. Pete Talbot

    A Mike Dennison/Lee newspapers article in Sunday’s editions helps make JHWYgirl’s point. Northwestern electricity users pay more than any other ratepayers in the region — up to 60% more.

    Montana has a bunch of dams and tons of coal yet we pay more than Idaho, Oregon, Washington, South Dakota, Wyoming… And we paid for these dams and coal-fired generating plants through the rates charged us over the years.

    I certainly don’t think that MPPI could do any more damage to Montana ratepayers or our economy than Northwestern, PPL or Monatan Power has over the last decade.

  1. 1 Montana Netroots » Blog Archive » JHWYGirl at 4&20

    […] In case any of you missed it, since Jay is over at Left In The West, our very own JHWYGirl will be posting over at 4&20 Blackbirds on Missoula local news. This will still be her home base, but you can read all sorts of Missoula goodness there. Like this first one on Montana Public Power. […]

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