Northeast Utilities continues with its effort to improve and expand its utility infrastructure for installing modern technologies. The company’s unit Yankee Gas has entered into a 1-year agreement with Envista Corporation to utilize latter’s right-of-way (ROW) Co-ordination Platform.
Envista Enterprise ROW Co-ordination is an integrated set of map-based solution. It is delivered through the web by offering visibility and real-time insight into all kinds of street activities that occur within the public ROW. This solution helps to manage utility projects and public works for improving the communication and co-ordination processes, while boosting street performance, and minimizing costs and environmental hazards.
Envista Corporation is a software development company. The company enables its clients to communicate and co-ordinate more efficiently through software programs.
Further, the map-based solution will help Yankee Gas to modernize its co-ordination processes and improve communication systems for its natural gas expansion programs. These factors will subsequently aid the company to develop pipeline more competently and get real-time project updates, while minimizing public disturbance during construction activities.
Previously, the Governor of Conn. announced that 250,000 households in the state will switch to natural gas from oil over the next seven years. To follow this mandate, Northeast Utilities has taken several initiatives to expand its natural gas distribution network.
In Jun 2013, Northeast Utilities’ subsidiaries Yankee Gas, Connecticut Natural Gas and Southern Connecticut Gas have jointly filed a natural gas expansion plan with the Utilities Regulatory Authority and the Department of Energy and Environmental Protection.
During the first six months of 2013, Northeast Utilities’ net cash flows provided by operating activities were $769 million. A stable financial position enables the company to follow steady natural gas portfolio expansion activities to meet the higher natural gas demand, which will improve its revenues, going forward.
Northeast Utilities currently has a Zacks Rank #3 (Hold). However, other stocks in the industry that are worth considering include Huaneng Power International, Inc. (HNP - Free Report) with a Zacks Rank #1 (Strong Buy), and Alliant Energy Corp. (LNT - Free Report) and IdaCorp, Inc. (IDA - Free Report) , each with a Zacks Rank #2 (Buy).