ENSTAR has about 150,000 customers on the Kenai Peninsula, as well as in Anchorage and the Mat-Su. For a decade, it was owned by AltaGas, which is also based in Canada.“The costs of the transaction will not impact ENSTAR rates,” she said. “And so the rates that customers pay will not be impacted until ENSTAR goes in for another rate case.
“And it will continue to be operated by ENSTAR employees through a management agreement between ENSTAR and CINGSA,” Hobson said. TriSummit, the new parent company, has 133,000 customers in Canada and had a net income of over $51 million in 2021 after taxes, . The order said ENSTAR will be the company’s “largest regulated natural gas distribution utility” when the acquisition is complete.
In a press release, AltaGas said proceeds from the sale will help the company reduce its debt and become more financially flexible for growth elsewhere.
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