Dominion Energy Advances Business Review; Announces Agreements to Sell Gas Distribution Companies to Enbridge

Dominion Energy has announced the sale of three natural gas distribution companies to Enbridge for $14 billion, with the proceeds expected to be used to retire debt, subject to regulatory approvals.

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Relevant topic timeline:

9/6/2023

Enbridge dives as market frets over financial hit from $14 bln Dominion deal

Enbridge shares plummeted as the Canadian pipeline operator's $14 billion bid to acquire three utilities raised concerns about its financial impact and leverage, despite making Enbridge the largest gas utility in North America.

9/6/2023

The utility for 1.2 million Ohio customers was just sold: Here’s how that will affect your bill

Enbridge, a Canadian natural gas company, has agreed to buy the East Ohio Gas Co., potentially leading to a new utility for 1.2 million Dominion Energy customers in Ohio.