6/4/2024
(P&GJ) — Enbridge Inc. has completed its acquisition of Questar Gas Company and its associated Wexpro companies from Dominion Energy Inc., marking a significant expansion of its utility operations.
The utility, now operating under the names Enbridge Gas Utah, Enbridge Gas Wyoming, and Enbridge Gas Idaho, serves approximately 1.2 million customers across Utah, Wyoming, and Idaho. Questar Gas joins Enbridge’s Gas Distribution and Storage Business Unit.
Questar Gas Company has a cost-of-service supply agreement with Wexpro, ensuring reliability and affordability for its customers. Its asset portfolio includes over 21,000 miles (over 33,500 km) of natural gas distribution and transmission pipelines, as well as a liquefied natural gas storage facility that enhances system reliability and interconnections to multiple interstate natural gas pipelines.
“We are excited to welcome another strong gas utility to Enbridge. Questar Gas and Wexpro enhance the scale and breadth of our existing low-risk utility business model, supporting our long-term dividend growth profile by providing stable, predictable cash flows,” said Michele Harradence, Enbridge Executive Vice President and President of Gas Distribution and Storage. “We welcome Questar Gas and Wexpro employees into the Enbridge family of companies and look forward to building long-term productive relationships with all stakeholders in Utah, Wyoming, and Idaho.”
The purchase of the Public Service Company of North Carolina Inc. (PSNC) is expected to follow after receiving necessary regulatory approvals, with the acquisition anticipated to close in 2024. The combined contributions from Questar and the previously acquired East Ohio Gas Company (now Enbridge Gas Ohio) are projected to account for approximately 80% of the total annualized EBITDA from the three gas utilities Enbridge has agreed to acquire from Dominion Energy.
