Algonquin Power & Utilities Corp. is a renewable energy and regulated utility company with assets across North America. Algonquin actively invests in hydroelectric, wind and solar power facilities, sustainable utility businesses (water, electricity), and non-sustainable utility businesses (natural gas) through its two operating subsidiaries: Algonquin Power Company and Liberty Utilities.
Algonquin Power Income Fund was established in September 1997 and first listed its trust units on the Toronto Stock Exchange on December 23, 1997. Having raised nearly $75m, Algonquin used $27.5m to purchase 14 hydroelectric generation facilities located in Ontario, Québec, New York and New Hampshire.
In response to the Government of Canada's decision to end the preferential tax treatment of income trusts, Algonquin Power Income Fund was converted to a corporation in October 2009. Unit-holders exchanged their trust units on a one-for-one basis for shares in the new corporate entity, Algonquin Power & Utilities.
Liberty Utilities operates in the following locations:
In 2016, Liberty Utilities announced a deal to acquire Empire District Electric Company.
Liberty utilities is involved in debates about rooftop solar in New Hampshire and wants to cap a solar policy called net metering. A recent Integrated Resource Plan (IRP) filing from Liberty indicates their desire to charge ratepayers for rooftop solar assets.