Columbia Gas and it's parent company, NiSource, announced this morning they've reached a $143 Million dollar settlement in the class action lawsuits for the Merrimack Valley gas explosions.

The plaintiffs in the lawsuit includes thousands of residents and businesses in Lawrence, Andover, and North Andover that were impacted by the September 13 natural gas explosions.

"Families suffered for months in the gripping cold. Businesses shuttered, and lives were upended," Elizabeth Graham, co-lead attorney for the plaintiffs, said in a statement. "To this day, the people most impacted by the explosions are not fully back on their feet, but we believe this settlement is the quickest and most just method to ensure that residents and businesses are made whole again."

The explosions were blamed on over-pressurized natural gas lines and displaced about 8,000 people, killed one man and injured two dozen others. The settlement will compensate those that suffered losses and hardships, as a result of the explosions and fires.

Many of the customers were left without natural gas service, including heat and hot water, during the winter months.

The settlement must get final approval by Essex Superior Court Judge James Lang.

WGBH reached out to Columbia Gas, Lawrence Mayor Dan Rivera and others for reaction to the settlement and are awaiting a response.

The agreement announced Monday is separate from an $80 million settlement reached in May with the three communities to address infrastructure damage.

It is also separate from settlements with two families.

In July, Columbia settled with the family of Leonel Rondon, 18, who died when a chimney collapsed on his vehicle in the driveway of a friend's home. In April, the utility settled with the Figueroa family, of Lawrence. Several members of the family were injured and their home was heavily damaged. Details of the Rondon and Figueroa settlements have not been made public.

NiSource has so far spent about $1 billion responding to the disaster, the company said.

Residents of the three communities will be entitled to recover compensation for disruption of their lives and property damage not previously covered, according to the attorneys. Businesses will be able to claim lost income and lost inventory.

The Associated Press contributed to this report.