SJI Announces New Jersey Regulatory Approval for Acquisition of Elizabethtown Gas
23 June 2018 - 7:45AM
Media
Contact: Marissa Travaline
(609) 561-9000 ext. 4227
Investor Contact: Dan Fidell
(609) 561-9000 ext. 7027
SJI Announces New
Jersey Regulatory Approval
for Acquisition of Elizabethtown Gas
FOLSOM, N.J., June 22, 2018
- South Jersey Industries (NYSE: SJI)
announced today that New Jersey Board of Public Utilities approval
has been granted to complete the acquisition of New Jersey-based
Elizabethtown Gas from Pivotal Utilities Inc., a subsidiary of
Southern Company Gas.
The company previously announced on June 1 that it
had received the needed state regulatory approvals in Maryland that
would allow for the acquisition of Elkton Gas from Pivotal
Utilities, Inc. as well. Both transactions are anticipated to close
on July 1, 2018.
"The acquisitions of Elizabethtown Gas and Elkton
Gas represent an incredible milestone in the history of our
organization," said Michael J. Renna, President and CEO, SJI.
"These well-run, well-respected utilities are a perfect fit for
SJI, sharing our commitment to safety and operational excellence,
while providing the opportunity for high quality, regulated
earnings growth."
"We look forward to completing this
transformational acquisition and working collaboratively with the
teams at Elizabethtown and Elkton to continue providing safe,
reliable, affordable gas service to the residents of New Jersey and
Maryland," Renna added.
Upon close, SJI will become the second largest
natural gas provider in New Jersey and third largest local gas
distribution company in the country, with service to more than
681,000 customers.
About SJI
SJI (NYSE: SJI), an energy services holding company based in
Folsom, NJ, delivers energy solutions to its customers through
three primary subsidiaries. South Jersey Gas delivers safe,
reliable, affordable natural gas and promotes energy efficiency to
approximately 385,000 customers in southern New Jersey. SJI's
non-utility businesses within South Jersey
Energy Solutions promote efficiency, clean technology and renewable
energy by providing customized wholesale commodity marketing and
fuel management services; acquiring and marketing natural gas and
electricity for retail customers; and developing, owning and
operating on-site energy production facilities. SJI Midstream is
also an SJI subsidiary and houses the
company's interest in the PennEast Pipeline Project. Visit
www.sjindustries.com for more information about SJI and its
subsidiaries.
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Source: South Jersey Industries via Globenewswire
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