Dominion Resources and Questar Corp. recently filed joint merger applications with the Public Service Commissions of Utah and Wyoming, and alerted the Idaho Public Utilities Commission about their proposed transaction.
The companies initially announced the proposed merger on Feb. 1, and the Federal Trade Commission granted them an early termination of the applicable waiting period, required by the Hart-Scott-Rodino Antitrust Improvements Act, later that month. The transaction still depends on approval from Questar’s shareholders, but the companies expect the merger to go through within a year.
Combined, the companies would cover seven states and nearly 5 million electric and gas utility customers, with a breakdown of approximately 2.5 million electric utility and 2.3 million gas utility customers. The combined energy company also would boast one of the country’s largest natural gas storage systems, with approximately 24,300 megawatts of electric generation in more than 15,000 miles of pipelines for transmission, gathering and storage.
