WASHINGTON — Canadian utility AltaGas has cleared the final regulatory hurdle for its $6.4 billion acquisition of Washington Gas parent company WGL Holdings.
The D.C. Public Service Commission has signed off on the acquisition, pending conditions outlined on the PSC website that, among other things, address cybersecurity, environmental, safety, and reliability concern.
The merged utility would also pay Washington Gas customers a one-time rate credit, and help fund District workforce development initiatives.
AltaGas and WGL have five days to review the final approval with conditions.
Approval from Maryland regulators, granted in April, also includes credits for residential customers, as well as workforce development and energy efficiency programs.
WGL will continue to operate as a stand-alone utility headquartered in D.C. WGL has about 1,500 employees in Washington and 1.1 million customers in the D.C. region.
AltaGas runs power plants across North America and owns two other U.S. gas utilities — Michigan gas utility Semco Energy Gas Co., and Alaska gas utility Enstar Natural Gas Co.
AltaGas will also move the headquarters of its U.S. power business to D.C., bringing about 20 jobs to the area initially.
