HomeMagazine2016February 2016, Vol. 243, No. 2Dominion Continues Coal-to-Gas Switch with $4.4 Billion Deal

February 2016, Vol. 243, No. 2

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Dominion Continues Coal-to-Gas Switch with $4.4 Billion Deal

Dominion Resources Inc., the power utility based in Richmond, VA, is the latest U.S. utility to expand its operations, reaching out west by offering to buy the gas company Questar Corp. of Salt Lake City, for about $4.4 billion in cash. Dominion announced the offer on Monday, the same day it reported a 15% decline in operating profit during the fourth quarter of 2015, due primarily to weaker demand for gas because of a mild autumn in its current operating locale on the U.S. East Coast. Eventually, though, Dominion says it believes the value of its acquisition of Questar will grow as the Western states it serves seek to reduce expenses and begin to comply with various new regulations,

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