Let’s Put It All Together
Washington Gas Merger with AltaGas To Yield $13.4 Million for Prince George’s County?
The Greater Prince George’s Business Roundtable meeting introduced another great opportunity to the county March 14.
At the meeting, corporate guests from AltaGas Ltd. described the benefits to Prince George’s of a potential merger between WGL Holdings Inc. (Washington Gas) and AltaGas Ltd. a Canadian company at $6.4 billion.
John O’Brien, president AltaGas Services, U.S., shared the offerings that AltaGas would bring to the merger and noted some of the benefits to Prince George’s. The company will relocate its head office of the AltaGas U.S. power business to Prince George's County. He explained that AltaGas’ expertise in development would be a primary contribution to Washington Gas.
Mr. O’Brien said $13.4 million coming to Prince George’s in support to TNI, education and other initiatives as part of the potential merger.
According to the Washington Business Journal, the two companies signed a settlement agreement with the Maryland Energy Administration, Montgomery and Prince George’s counties and local unions ahead of a review by Maryland’s Public Service Commission.
Under the agreement, Washington Gas will spend $70 million to extend its natural gas service areas and another $33 million will be set aside to create the Maryland Gas Expansion Fund, a MEA-administered tranche to promote the expansion of natural gas infrastructure into underserved parts of the state, the Journal reports, which, AltaGas leaders say will lead to economic development and job creation.