April 11, 2012 | last updated June 1, 2012 1:49 pm

Public Power secures $8M from First Niagara

First Niagara Financial Group, with Connecticut headquarters in New Haven, completed an $8 million financing agreement with Danbury retail energy provider Public Power.

The additional financing gives Public Power a total financing package of $33 million including a $5 million term loan and $28 million line of credit.

Public Power provides competitive energy rates on electricity and natural gas to more than 200,000 ratepayers in Connecticut, New York, New Jersey, Pennsylvania, Ohio, Maryland and Washington, D.C.

With the financing from First Niagara, Public Power can meet their seasonal needs as electricity usage rises through the summer.

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