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Enbridge Completes Acquisition of The East Ohio Gas Company
Enbridge Completes Acquisition of The East Ohio Gas Company Canada NewsWire ...
About this update from Enbridge Inc.
Enbridge Completes Acquisition of The East Ohio Gas Company /* Style Definitions */ span.prnews_span { font-size:8pt; font-family:"Arial"; color:black; } a.prnews_a { color:blue; } li.prnews_li { font-size:8pt; font-family:"Arial"; color:black; } p.prnews_p { font-size:0.62em; font-family:"Arial"; color:black; margin:0in; } .prngen2{ PADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; VERTICAL-ALIGN: TOP; BORDER-TOP:black 1pt; BORDER-RIGHT:black 1pt; BORDER-BOTTOM:black 1pt; BORDER-LEFT:black 1pt } .prnml4{ MARGIN-TOP:0em; MARGIN-RIGHT:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT } .prnbcc{ BORDER-COLLAPSE: COLLAPSE } .prnml6{ MARGIN-TOP:0em; MARGIN-RIGHT:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.50em !IMPORTANT } Canada NewsWire CALGARY, AB , March 7, 2024 /CNW/ - Enbridge Inc. (TSX: ENB) (NYSE: ENB) ("Enbridge" or the "Company") announced today the closing of its acquisition of The East Ohio Gas Company ("EOG") from Dominion Energy, Inc. The gas utility will be doing business as Enbridge Gas Ohio and will join Enbridge's Gas Distribution and Storage Business Unit. EOG is a premier single-state utility, serving over 1.2 million customers across more than 400 communities in Ohio , with key locations in major metropolitan areas. The gas utility has a robust portfolio of assets, including over 22,000 miles (over 35,400 km) of transmission, gathering and distribution pipelines, underground storage, and interconnections to multiple interstate pipelines and large natural gas producers. "The addition of a strong Ohio -based gas utility company is a great strategic fit for Enbridge. It further diversifies our business and enhances the stable cash flow profile of our assets," said Michele Harradence, Enbridge Executive Vice President and President, Gas Distribution and Storage. "Natural gas utilities have long useful lives and are 'must-have' infrastructure for providing safe, reliable, and affordable energy. This gas utility will help blend and extend our cash flow growth outlook through the end of the decade by adding a steady, regulated investment that supports our long-term dividend profile. With this acquisition, Enbridge has all four of its business units represented in Ohio , providing further value-add opportunities. We welcome EOG and its employees into the Enbridge family of companies and look forward to building long-term productive relationships with...