Corning Natural Gas Assumes Ownership of PCL&P

Corning Natural Gas Holding Corporation (CNGHC) today assumed ownership of Pike County Light & Power Company (PCL&P) from Orange and Rockland Utilities, Inc. (O&R) for $16 million.

PCL&P is now a wholly-owned subsidiary of CNGHC.

PCL&P is an electric and gas utility regulated by the Pennsylvania Public Service Commission. PCL&P provides electric service to approximately 4,600 customers in the Townships of Westfall, Milford and the northern part of Dingman and in the Boroughs of Milford and Matamoras. PCL&P provides natural gas service to 1,200 customers in Westfall Township and the Borough of Matamoras. All of these communities are located in Pike County, Pennsylvania.

O&R and PCL&P have entered into a Transition Services Agreement. Under the terms of that agreement, PCL&P will retain O&R to provide a significant amount of operational and customer support during a transition period of several months to maintain PCL&P service reliability and customer service. That support ranges from electric and gas field repairs and metering to customer service and billing services. During this transition period, the new PCL&P management will staff up, arranging for its own electric and gas field forces, meter reading, billing and related customer services.  

PCL&P electric and gas customers should continue to call PCL&P at 1-877-434-4100 to report outages, request emergency repairs or ask questions about service or billing. Customers who smell gas or suspect a gas leak should continue to call PCL&P’s Gas Emergency Hotline at 1-800-533-LEAK (5325).

In addition, O&R and the new PCL&P entered into an Electric Service Agreement and a Gas Supply and Gas Transportation Agreement that are similar to prior agreements between PCL&P and O&R.

About Orange and Rockland Utilities

Orange and Rockland Utilities, Inc. is a wholly-owned subsidiary of Consolidated Edison, Inc. (Con Edison) (NYSE: ED), one of the nation’s largest investor-owned energy companies.

O&R serves approximately 226,000 electric customers and 130,000 natural gas customers in New York, and O&R’s other regulated subsidiary, Rockland Electric Company, serves 72,000 electric customers in New Jersey.

About Corning Natural Gas Holding Corporation

Corning Natural Gas Holding Corporation (OTCQX: CNIG) is the parent company of Corning Natural Gas, a local distribution company with nearly 450 miles of mains that sells or transports natural gas to approximately15,000 customers. Gas deliveries are made across 23 towns and villages over 700 square miles throughout the Southern Tier and central regions of New York State.

In addition to now owning PCL&P, CNGHC also has a 50 percent ownership interest in joint ventures Leatherstocking Gas Company, LLC and Leatherstocking Pipeline Company, LLC. Leatherstocking Gas distributes gas in Susquehanna and Bradford Counties, Pennsylvania, and Leatherstocking Pipeline, an unregulated company, serves one customer in Lawton, Pennsylvania.