WSJ: Dominion Energy, National Grid Pursuing Sale of Natural Gas Pipelines
(Reuters) — Utility firms Dominion Energy and National Grid Plc are separately considering a potential sale of parts of their natural gas pipeline networks, the Wall Street Journal reported on Thursday, citing people familiar with the matter.
Dominion is mulling a sale of its gas-distribution companies serving North Carolina, Ohio and parts of the Western U.S., which combined could be worth $13 billion, the report said.
National Grid on the other hand is exploring a possible sale of part of its pipeline network serving the Northeastern U.S.
The reported moves come at a time when lawmakers and regulators across the United States are debating the future of natural gas for home heating and cooking as more towns and cities look to phase it out. Eliminating natural gas appliances would mean transitioning to electric equipment such as heat pumps.
In response, utilities are working to determine how to modify or repurpose their current natural-gas delivery networks.
Dominion and National Grid's shares on the New York Stock Exchange were trading 0.4% and 1% higher, respectively.
Dominion and National Grid declined to comment when contacted by Reuters.
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