PA Public Utility Commission Approves Acquisition of Dominion Peoples Natural Gas Company in southwestern Pennsylvania

PR Newswire

posted: 82 DAYS 17 HOURS AGO

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PITTSBURGH, Nov. 19 /PRNewswire/ -- Chris Kinney, CEO of SteelRiver Infrastructure Fund North America LP, today issued the following statement following the Pennsylvania Public Utility Commission's (PUC) unanimous decision to approve the sale of Dominion Peoples Natural Gas Company to Peoples Hope Gas Companies, an affiliate of SteelRiver:

"We applaud the Pennsylvania PUC's unanimous decision to approve our acquisition of Peoples Natural Gas Company, which will allow us to move forward to build a sound company that will serve the people of southwestern Pennsylvania. Our acquisition of the company will create jobs and improve the economy of the region.

We look forward to working with Peoples' employees and the community to strengthen the new gas company and enhance service to our customers. We are committed to investing in the company and ensuring that we can meet the energy needs of the region now and in the future."

In addition to acquiring Peoples, SteelRiver has filed an application with the Public Service Commission of West Virginia to purchase Dominion Hope Gas in West Virginia, and the acquisition of Peoples is contingent upon approval of that sale. The Public Service Commission of West Virginia is expected to rule soon on the application.

For more information, contact Sean Connolly at the Bravo Group at 717-525-3004 or at Connolly@thebravogroup.com .

SOURCE SteelRiver Infrastructure Partners

2009-11-19 15:12:00