Dominion Energy Announces Closing of Sale of Public Service Company of North Carolina

Core Insights - Dominion Energy has successfully completed the sale of its natural gas utility in Gastonia, North Carolina, to Enbridge for approximately $3.2 billion, marking the final transaction in a series of sales announced in September 2023 [1][2] - The total enterprise value of the three gas utility sales, including assumed debt, amounts to approximately $14 billion, with previous transactions closing in March and May [2] - The sale is part of a broader business review that has led to $18 billion in debt reduction, enhancing the company's balance sheet to support future projects [4] Company Overview - Dominion Energy provides regulated electricity service to 3.6 million customers in Virginia, North Carolina, and South Carolina, and regulated natural gas service to 400,000 customers in South Carolina [5] - The company is recognized as a leading developer and operator of offshore wind and solar power, and it is the largest producer of carbon-free electricity in New England [5] Employee and Regulatory Aspects - The company negotiated significant employee protections for nearly 3,500 workers who have transitioned to Enbridge, emphasizing industry reliability and community engagement [3] - The successful closure of the transactions involved collaboration with regulators across five states [3]