Richmond-based Dominion Energy says it’s selling its gas utility in West Virginia for $690 million.
Dominion Energy West Virginia — also known as Hope Gas, Inc. — serves about 111,000 customers in West Virginia and employs about 300 people. It’s based in Clarksburg, West Virginia.
In a news release Friday, Dominion said it’s selling the utility to Ullico Inc.’s infrastructure fund.
Ullico plans to integrate Hope Gas into its Hearthstone Utilities holding company, which provides natural gas to about 80,000 customers in Indiana, Maine, Montana, North Carolina, and Ohio.
As part of the deal, Hearthstone will move its headquarters to West Virginia. It is currently headquartered in Naperville, Illinois, according to its website.
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