Morgantown, WV, May 07, 2024 (GLOBE NEWSWIRE) -- Hope Gas (Hope) today announces an agreement to purchase Consumers Gas Utility Company in West Virginia. This transaction is subject to review and approval by the Public Service Commission of West Virginia.
This agreement marks the sixth acquisition transaction by Hope Gas in West Virginia in just over one year. The company has previously acquired Equitrans Gathering, Hometown Gas, Peoples Gas WV and Southern Public Gas Company. An acquisition of Standard Gas Company and Bazzle Gas Company is expected to close in mid-2024.
The acquisition of Consumers Gas will add approximately 8500 new customers across Cabell, Jackson, Putnam, Ritchie, Roane and Wayne counties in West Virginia. With this acquisition, Hope expands its service territory to 38 West Virginia counties and will provide service in Wayne County, WV for the first time.
“Hope Gas has proudly served West Virginia homes and businesses for 125 years,” said Morgan O’Brien, CEO of Hope Gas. “We are excited to expand our service area in southwest West Virginia. We believe in West Virginia’s bright future. The natural resources beneath our feet provide reliable and affordable energy which is a key piece in attracting other businesses to this beautiful state. Hope Gas will leverage West Virginia’s rich energy supply and our distribution system as a benefit to economic development. Our belief in the future of the Mountain State is so strong that our investors at Ullico have committed over a billion dollars in investment in West Virginia in just about a year’s time.”
Hope Gas was acquired from Dominion Energy in September 2022. Since then, Hope has directly added hundreds of family-sustaining jobs in West Virginia and invested in improving the state’s pipeline infrastructure. In addition, Hope has partnered with contractors to employ more than 400 West Virginians in family-sustaining jobs through ongoing pipeline replacement efforts. Hope also has enhanced its partnership with local gas producers to further support their growing businesses across the state. In June 2023, Hope unveiled its new headquarters office in Morgantown, West Virginia. New state-of-the-art customer contact and gas control centers were opened in the company’s Morgantown office in January 2024.
“As the only utility company with its corporate headquarters in West Virginia, we dedicate ourselves to providing the highest quality service to our neighbors,” continued O’Brien. “We will continue to invest in West Virginia and will continue to help create family-sustaining jobs throughout the Mountain State.”
Founded in 1898, Hope Gas is already one of the largest local natural gas distribution companies in West Virginia. The Hope Gas vision is to be a leader in the energy industry in the Mountain State and to empower and improve communities through the safe delivery of local, abundant, and reliable energy. Upon closing of this deal, Hope Gas will serve over 140,000 homes and businesses throughout 38 West Virginia counties.
The sale is subject to customary closing conditions, including approval from the Public Service Commission of West Virginia.
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About Hope Gas: Hope Gas is a Local Distribution Company (LDC) that proudly provides gas service to more than 131,000 residential, industrial, and commercial customers in thirty-seven West Virginia counties. We monitor and maintain over 7000 miles of pipelines that safely deliver West Virginia natural gas to many homes and commercial and industrial sites. We currently employ over 450 employees working right here in our beautiful Mountain State with the sole purpose of staying true to our company’s mission and vision in West Virginia. Learn more at HopeGas.com.
About Hope Utilities: Hope Utilities owns natural gas and water distribution utilities across nine states. We provide service to more than 233,000 residential, commercial, and industrial customers in the communities we serve. We currently operate natural gas utilities in Indiana, Maine, Montana, North Carolina, Ohio, and West Virginia; and water and wastewater utilities in Arizona, Michigan, and Texas. Hope’s growth strategy is built on being a trusted member of the communities we serve, providing our customers with safe, reliable, and cost-effective utility service. Learn more about Hope at HopeUtilities.com.
