Virginia joins FERC, the Federal Trade Commission, the Department of Justice, and CFIUS in approving the combination
Today the Virginia State Corporation Commission (VSCC) approved the combination of AltaGas and WGL Holdings.
AltaGas and WGL Holdings are pleased with the decision made today by the VSCC, which approved the combination subject to conditions supported by AltaGas and WGL. The approval and support of the Virginia State Corporation Commission for the combination is a key milestone in the regulatory approval process for AltaGas and WGL.
AltaGas and WGL are confident of the benefits of this proposed combination, as the benefits are based on the strong foundation of providing value for Washington Gas customers in the region. The combined company will be in an even stronger position to deliver exceptional service at affordable rates, more investment in the community and workforce training programs, as well as good secure jobs. The combination will better position WGL to deliver more clean energy options to customers and the community in the future.
Today’s approval follows the completion of the federal review process. These include;
- Approval from the Federal Energy Regulatory Commission (FERC), on July 6, 2017, an independent agency that regulates the interstate transmission of natural gas, electricity and oil;
- Expiration of the waiting period as of July 17, 2017, pursuant to the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR Act), when the merger was deemed approved by the Federal Trade Commission and the Department of Justice, and;
- Approval from the Committee on Foreign Investment in the United States (CFIUS) on July 28, 2017.
The regulatory review process continues in Maryland and the District of Columbia. AltaGas and WGL continue to work constructively with the regulatory commissions and the parties involved in the regulatory proceedings in Maryland and the District of Columbia to make sure all consumers benefit, existing jobs are protected, new jobs are added, and our support for clean energy is moved forward. Final decisions are expected on the combination in December in Maryland, and in the first half of 2018 in the District of Columbia.