Maryland Public Service Commission Oks $4.5 Bln Merger Of WGL Holdings, AltaGas

(RTTNews) - The Maryland Public Service Commission announced its approval Wednesday of the combination of WGL Holdings, Inc. (WGL) with AltaGas Ltd. (ALA.TO). The $4.5 billion merger brings together two complementary energy companies committed to delivering more value for customers in Maryland and promises more investment in energy infrastructure and clean energy across the state. The Commission voted 4 to 1 in favor of the merger.

The companies have also made commitments to support all Washington Gas' service territories in Maryland, Virginia and the District of Columbia.

The Commission is giving the companies until April 16, 2018, to indicate whether they will accept the new conditions that it is imposing as part of its approval.

Terry D. McCallister, Chairman and CEO of WGL Holdings, Inc., said that while WGL and AltaGas leadership begin the detailed review of the 100-page order to fully understand all of the Commission's requirements, customers will ultimately benefit from the combination of the companies.

With the favorable decision in Maryland on Wednesday, the companies now have one remaining regulatory review to complete in the District of Columbia. AltaGas and WGL are continuing to work with the District of Columbia Public Service Commission (DC PSC) and other parties involved in the regulatory proceedings to achieve a favorable decision that benefits all customers, protects existing jobs and adds new ones, and supports clean energy solutions for the future. A final decision from the DC PSC is expected in mid-2018.