SOUTH JERSEY INDUSTRIES SEEKS APPROVAL FOR THE ACQUISITION OF ELIZABETHTOWN GAS
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FOLSOM, N.J., January 2, 2018 - South Jersey Industries (NYSE: SJI) and Pivotal Utility Holdings, Inc. (“Pivotal”) filed a Joint Petition December 21 to the New Jersey Board of Public Utilities (“NJBPU”) seeking approval for the acquisition of Pivotal’s New Jersey utility operating division, Elizabethtown Gas (“Elizabethtown”).
The Joint Petition outlines SJI’s commitment to Elizabethtown and New Jersey, indicating that customers and the State will share in the many positive benefits the acquisition will yield. As outlined in the Joint Petition, there will be no adverse impacts on rates for Elizabethtown customers as a result of the acquisition. The Joint Petition also includes a number of commitments, including the creation of jobs to replace services currently provided in other states and a $5 million credit to current Elizabethtown Basic Gas Supply Service customers.
“The acquisition of Elizabethtown Gas is a great fit for SJI and for the state, as we share a strong commitment to our customers, our employees and the approximately 200 New Jersey communities served by our utilities,” said Michael J. Renna, President and CEO, South Jersey Industries. “We remain committed to the highest standards of safety, reliability and environmental stewardship, and we will continue to partner with Elizabethtown Gas’ stakeholders to meet their expectations for exceptional service.”
The joint petitioners will be working with the NJBPU during the coming months to finalize the acquisition, while also maintaining their focus on safe, reliable, and adequate service throughout the service territory. Upon the successful completion of this transaction, including the approval of the NJBPU, SJI will become the second largest natural gas provider in New Jersey, with service to more than 675,000 customers.
South Jersey Industries (NYSE: SJI), an energy services holding company based in Folsom, NJ, delivers energy solutions to its customers through three primary subsidiaries. South Jersey Gas delivers safe, reliable, affordable natural gas and promotes energy efficiency to approximately 381,000 customers in southern New Jersey. SJI’s non-utility businesses within South Jersey Energy Solutions promote efficiency, clean technology and renewable energy by providing customized wholesale commodity marketing and fuel management services; acquiring and marketing natural gas and electricity for retail customers; and developing, owning and operating on-site energy production facilities. SJI Midstream is also an SJI subsidiary and houses the company’s interest in the PennEast Pipeline Project. Visit www.sjindustries.com for more information about SJI and its subsidiaries.