SJI Announces New Jersey Regulatory Approval for Acquisition of Elizabethtown Gas
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SJI Announces New Jersey Regulatory Approval
for Acquisition of Elizabethtown Gas
FOLSOM, N.J., June 22, 2018 - South Jersey Industries (NYSE: SJI) announced today that New Jersey Board of Public Utilities approval has been granted to complete the acquisition of New Jersey-based Elizabethtown Gas from Pivotal Utilities Inc., a subsidiary of Southern Company Gas.
The company previously announced on June 1 that it had received the needed state regulatory approvals in Maryland that would allow for the acquisition of Elkton Gas from Pivotal Utilities, Inc. as well. Both transactions are anticipated to close on July 1, 2018.
"The acquisitions of Elizabethtown Gas and Elkton Gas represent an incredible milestone in the history of our organization," said Michael J. Renna, President and CEO, SJI. "These well-run, well-respected utilities are a perfect fit for SJI, sharing our commitment to safety and operational excellence, while providing the opportunity for high quality, regulated earnings growth."
"We look forward to completing this transformational acquisition and working collaboratively with the teams at Elizabethtown and Elkton to continue providing safe, reliable, affordable gas service to the residents of New Jersey and Maryland," Renna added.
Upon close, SJI will become the second largest natural gas provider in New Jersey and third largest local gas distribution company in the country, with service to more than 681,000 customers.
SJI (NYSE: SJI), an energy services holding company based in Folsom, NJ, delivers energy solutions to its customers through three primary subsidiaries. South Jersey Gas delivers safe, reliable, affordable natural gas and promotes energy efficiency to approximately 385,000 customers in southern New Jersey. SJI's non-utility businesses within South Jersey
Energy Solutions promote efficiency, clean technology and renewable energy by providing customized wholesale commodity marketing and fuel management services; acquiring and marketing natural gas and electricity for retail customers; and developing, owning and operating on-site energy production facilities. SJI Midstream is also an SJI subsidiary and houses the
company's interest in the PennEast Pipeline Project. Visit www.sjindustries.com for more information about SJI and its subsidiaries.