Alaska regulators approve sale of Enstar, state’s largest natural gas utility

The proposal for the acquisition shows there is “sufficient organization, financial backing, technical facilities and equipment, operations expertise and managerial and administrative experience to support a finding of fitness, willingness, and ability to provide public utility service,” the state agency said in its order.

The deal will more than double TriSummit’s customer base. The natural gas distribution company has about 133,000 customers in Canada. AltaGas said the sale will help it reduce debt and create financial flexibility for future growth in other areas.Enstar reported net income of $24 million last year, with assets at $610 million and liabilities at $430 million, the agency’s order said.

The sale involves assets that include Enstar’s majority ownership of Cook Inlet Natural Gas Storage Alaska, which protects against potential gas supply disruptions in Southcentral Alaska. The storage facility, like Enstar, is a standalone utility. It reported net income of $11 million last year.

Source: News Formal (newsformal.com)

Guys cmon 🥺 this is capitalism breeding new innovation believe me

Get ready for your heating bills to go up -- again.

Well, without knowing a single detail about the sale I think I can safely say that we're gonna get screwed.

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