- 1 How much will I get from Columbia Gas Settlement?
- 2 Who took over Columbia Gas?
- 3 Is Columbia Gas still in Massachusetts?
- 4 Where was the Columbia Gas explosion?
- 5 Are class action settlements taxable?
- 6 Does the IRS tax lawsuit settlements?
- 7 Who bought NiSource?
- 8 Is eversource buying Columbia Gas?
- 9 What caused Columbia Gas explosion?
- 10 How many gas explosions occur each year?
- 11 Where was the gas explosion in Massachusetts?
How much will I get from Columbia Gas Settlement?
Columbia Gas, the company that pleaded guilty in connection with the 2018 natural gas disaster in the Merrimack Valley, has agreed to pay $56 million and transfer its business in Massachusetts to Eversource by the time the cold weather returns.
Who took over Columbia Gas?
BOSTON (CBS) – Eversource Energy has officially taken over Columbia Gas of Massachusetts, the utility company at the center of the Merrimack Valley explosions. Columbia Gas accepted responsibility for the 2018 disaster, when over-pressurized pipelines caused explosions and fires in Lawrence, Andover and North Andover.
Is Columbia Gas still in Massachusetts?
NiSource Announces Sale of Columbia Gas of Massachusetts to Eversource. NiSource today announced that it has entered into a definitive agreement under which Eversource Energy will acquire Columbia Gas of Massachusetts’ business.
Where was the Columbia Gas explosion?
On September 13, 2018, excessive pressure in natural gas lines owned by Columbia Gas of Massachusetts caused a series of explosions and fires to occur in as many as 40 homes, with over 80 individual fires, in the Merrimack Valley, Massachusetts, towns of Lawrence, Andover, and North Andover.
Are class action settlements taxable?
Oftentimes, the nature of a class action suit determines if the lawsuit settlement can be taxable. Lawsuit settlement proceeds are taxable in situations where the lawsuit is not involved with physical harm, discrimination of any kind, loss of income, or devaluation of an investment.
Does the IRS tax lawsuit settlements?
Settlement money and damages collected from a lawsuit are considered income, which means the IRS will generally tax that money, although personal injury settlements are an exception (most notably: car accident settlement and slip and fall settlements are nontaxable).
Who bought NiSource?
On July 1, 2015, NiSource separated Columbia Pipeline Group into a standalone publicly traded company. TransCanada operates a network of natural gas pipelines that extends more than 42,000 miles, tapping into most major gas supply basins in North America.
Is eversource buying Columbia Gas?
Eversource Energy (NYSE: ES) today announced that it has reached an agreement to purchase the Massachusetts natural gas assets of Columbia Gas for $1.1 billion from NiSource. The acquisition will bring Columbia Gas operations in Massachusetts under local ownership by the largest energy company in New England.
What caused Columbia Gas explosion?
In October, a report from the National Transportation Safety Board said that “the probable cause of the overpressurization of the natural gas distribution system and the resulting fires and explosions was Columbia Gas of Massachusetts’ weak engineering management.”
How many gas explosions occur each year?
Across the U.S. there are about 286 serious natural gas explosions per year —the type that cause over $50,000 worth of damage, severe injury, or loss of life. Between 1998 and 2017, 15 people per year on average died in incidents related to gas distribution in the U.S.
Where was the gas explosion in Massachusetts?