Dear WGL Colleague:
I am pleased to announced that, today, we entered into an agreement for WGL Holdings, Inc. to combine operations with AltaGas Ltd., a leading diversified energy infrastructure company. Once the agreement is final, Washington Gas, WGL Energy Services, WGL Energy Systems, WGL Midstream and Hampshire Gas will become wholly-owned subsidiaries of AltaGas.
This move represents an exciting growth opportunity for our business and for WGL jobs. It means that all of us in the WGL family of companies will become part of a larger, more broad-based business that spans the U.S. and Canada. This new organization will be roughly double our current size and will comprise a wider, complementary set of energy businesses upon which we will build our future growth and success. I know you may be asking what this means for you. I want to reassure you that, as a result of the transaction:
Your job, pay and benefits, including healthcare and retirement, will not change
Your team and manager will not change
Our work locations will remain the same
The Washington Gas name will remain as it has for almost 170 years, as a mark of excellent customer service
Washington Gas will remain headquartered in Washington, D.C.
WGL Energy will continue and expand its clean and efficient energy offerings
We will continue to increase our existing business investments
We will also increase our substantial community involvement and charitable giving
In short, now, and after the deal is completed, it will remain business as usual.
Over time, there may be new opportunities for employees within the combined organization. In addition to continuing to manage Washington Gas, WGL will assist in the management of AltaGas’ U.S. regulated utility business to advance our joint interests in delivering safe, reliable and reasonably priced utility service to a growing base of customers. AltaGas also intends to relocate the headquarters of its U.S. Power business to WGL’s service region.
The exciting opportunities created by this combination are attributable to our attractive track-record of success. I am personally looking forward to joining with the AltaGas family of companies and to moving forward with you to this new era of opportunity and growth.
We will continue to share more details about the transaction as they become final, but you may have immediate questions. Adrian Chapman, our President and Chief Operating Officer, and other senior leaders will share details about this announcement and answer any questions you may have at a series of Town Hall meetings this week, one of which I hope you will attend.
Chairman & Chief Executive Officer