NEWS BRIEF: Enbridge has Completed its $4.3 Billion Acquisition of Questar Gas from Dominion Energy

Calgary, Alberta-based Enbridge (NYSE:ENB) has completed its $4.3 billion acquisition of Questar Gas from Richmond, Virginia-based Dominion Energy.

According to the Enbridge news release, "The Questar Gas utility will be doing business in Utah as Enbridge Gas Utah ... (and) will join Enbridge's Gas Distribution and Storage Business Unit."

As noted in our September 2023 write-up — "Dominion Energy Agrees to Sell Questar to Enbridge for $4.3 Billion" — with the acquisition, Enbridge

"... will become the largest, by volume, gas utility business in North America after the close of the acquisitions, with delivery of ~9 billion cubic feet of gas per day (Bcf/d) to approximately 7 million customers."

As noted in Enbridge's 5 September 2023 investor presentation after it announced its forthcoming acquisition of three separate businesses from Dominion Energy (including Questar Gas), Enbridge explained that (at the time) Questar

• Served ~1.2 million customers,
• By distributing natural gas via 21,000 miles of transmission, gathering and distribution pipelines in
  — Utah (~97% of rate base),
  — Southwestern Wyoming (~3%), and
  — a small portion of Southeastern Idaho.

Additionally, Enbridge noted in its September 2023 presentation that

"Utah (had) passed a law in 2021 prohibiting bans on natural gas"

The investor presentation also included a graphic (shown below) to highlight the general distribution footprint of Questar Gas.

After explaining about the new names Enbridge would begin using for Questar Gas in its different regions, Andrea Stass, Manager, External Communications and Media Relations for Enbridge, wrote via email that

"While the names are changing, for now, it’s business as usual. There are no changes to customer rates, services, how gas is supplied or how customers interact with the local utility."

Stass added that Enbridge would naturally deploy the Enbridge logo

• "... on our service vehicles,
• " employee uniforms and ID badges,
• "buildings, and
• "customer bills."

She also wrote that "We’ll be sure to provide plenty of advance notice and information about any planned changes to customers," while also adding that

"Our goal is to make the transition as easy and seamless as possible for customers."

PUBLISHER'S NOTE

In case you're not aware of Utah Money Watch, our goal is to publish Utah-focused monetary/financial/business news, context, and analysis on a timely/regular basis, ideally information NOT available through any other source.

[You might think of us at the opposite of Bloomberg, CNBC, and/or The Wall Street Journal, each of which focus on international/national news first and rarely report on local happenings. Conversely, we are passionately focused on uncovering the most important monetary/financial/business news and information that impact the organizations and people of Utah.]

Here again, the intent is to publish news, information, context, and analysis NOT available through any other source.

To that end, this article was originally published and distributed to our Subscribers at approximately 6:15 (MT) on Tuesday, 4 June 2024.

However, if you are seeing this report sometime after this date/time and you are interested in seeing similar reports and/or other Utah-focused monetary/financial/business news, context, and analysis write-ups in the future on an instantaneous basis when they are published, you can do so by subscribing, FOR FREE, to Utah Money Watch.

This will take less than 30 seconds and can be done from any page on the Utah Money Watch website.

Simply,

1. Click on a "Subscribe" button on any Utah Money Watch webpage,
2. Enter in your name in the proper field in the popup window that appears on-screen, and
3. Enter your preferred email address in the proper field too.

That's it. And "Yes," it really is that simple.

And ... it IS free.

So we hope to see you join us as a subscriber of Utah Money Watch.

Thanks.

Team Utah Money Watch