Dominion Energy Announces Closing of Sale of West Virginia Natural Gas Distribution Company

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Sep 01, 2022, 07:30 ET

RICHMOND, Va., Sept. 1, 2022 /PRNewswire/ -- Dominion Energy (NYSE: D) today announced closure of the sale of its West Virginia natural gas utility – Hope Gas, Inc. (Dominion Energy West Virginia or DEWV) – to a subsidiary of Hearthstone Holdings, Inc., a portfolio company of Ullico Inc.'s infrastructure fund, for $690 million, adjusted for customary closing items. This transaction was previously announced on Feb. 11, 2022.

DEWV is a Clarksburg, W.Va.-based gas utility employing about 300 and serving 111,000 West Virginia customers, with 3,200 miles of gas distribution pipelines and more than 2,000 miles of gathering pipelines. Dominion Energy continues to own and operate Mt. Storm Power Station in Mt. Storm, W.Va.

The transaction received all customary regulatory approvals.

About Dominion Energy

About 7 million customers in 15 states energize their homes and businesses with electricity or natural gas from Dominion Energy (NYSE: D), headquartered in Richmond, Va. The company is committed to safely providing reliable, affordable and sustainable energy and to achieving Net Zero emissions by 2050. Please visit DominionEnergy.com to learn more.

SOURCE Dominion Energy