Oregon Trail Electric Buys CP National

United Press International

CP National’s electric distribution system in four eastern Oregon counties has been purchased by Oregon Trail Electric Consumers Cooperative for $45.5 million.

The agreement calls for Oregon Trail Electric to buy CP National for $33 million in cash and a $12.5 million guaranteed, interest-free note due in four years, said Russell Dorran, acting manager of the Baker-based cooperative.

The Oregon Public Utility Commission approved the sale, saying the purchase of San Francisco-based CP National, an investor-owned utility, is “consistent with the public interest.”