Possible sales come as regulators debate fossil fuels’ future in home heating and cooking
Two of the country’s largest utility companies are weighing potential sales of parts of their natural-gas pipeline networks as efforts to phase out in-home gas use accelerate.
Dominion Energy Inc. is considering selling its gas-distribution companies serving North Carolina, Ohio and parts of the Western U.S., according to people familiar with the matter. Combined, the assets could be worth as much as $13 billion, some of the people said, though they are unlikely to be sold all together.
Meanwhile, National Grid PLC is exploring a possible sale of part of its pipeline network serving the Northeast as lawmakers there look to curtail fossil-fuel use, according to people familiar with the matter. One option under discussion at the British utility company is to sell a minority interest in the network, some of the people said.
The Wall Street Journal
By Katherine Blunt, Laura Cooper and Jimmy Vielkind
April 6, 2023