Enbridge has announced plans to sell its natural gas operations in New Brunswick for $331 million.
The company says the operations will be sold to Liberty Utilities, a subsidiary of Algonquin Power and Utilities in Ontario.
“The sale aligns with Enbridge’s priority of focusing on expanding and growing its business in core markets,” Cynthia Hansen, executive vice-president of utilities and power operations at Enbridge, said in a statement.
“Enbridge will work with Liberty Utilities to ensure a safe and orderly transition of business operations.”
APUC Continues North American Regulated Utility Expansion, Announces Agreement to Acquire Enbridge Gas New Brunswick https://t.co/2fZHindfxJ
— AQN (@AQN_Utilities) December 4, 2018
The company said employees, customers, partners and suppliers should not expect to see any change in day-to-day operations.
Algonquin echoed the statement, saying it plans to maintain local employment and the existing local operating and management structure.
Enbridge provides natural gas to about 12,000 customers in 12 communities throughout New Brunswick.
The sale still needs to be approved by regulators, which is expected to happen in 2019.
Enbridge said it will maintain its ownership interest in the Maritimes and Northeast Pipeline, which serves markets in Atlantic Canada and the northeastern United States.
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Story by Brad Perry
Twitter: @BradMPerry
Email: perry.brad@radioabl.ca
(Photo: freeimages.com)
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