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Dominion Energy, National Grid pursuing pipeline sales - WSJ

Published Apr 06, 2023 08:33AM ET Updated Apr 06, 2023 04:15PM ET
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© Reuters. FILE PHOTO: Electric power transmission pylon miniatures and Dominion Energy logo are seen in this illustration taken, December 9, 2022. REUTERS/Dado Ruvic/Illustration
 
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(Reuters) -Utility firms Dominion Energy and National Grid (LON:NG) 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.

Dominion Energy, National Grid pursuing pipeline sales - WSJ
 

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Comments (5)
Benjamin USA
Benjamin USA Apr 10, 2023 4:35PM ET
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Brainlet republicans crying like schoolchildren didnt read the article. Anyone who pays attention knows the NG delivery to households has been getting phased out for a long time. These networks will end up being a operating loss for them so of course they want to sell at a profit now.
Benjamin USA
Benjamin USA Apr 10, 2023 4:35PM ET
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And its not the feds phasing it out so try not to get all triggered
Ace JD
Ace JD Apr 10, 2023 12:16PM ET
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It wouldbe WAY cheaper to do some kind oif carbon capture on natty than to use wind or solar for electricty. Plant a tree or two and buy natty to preevent thos bird killers or sold debacles!
Rubbing Hands
Rubbing Hands Apr 07, 2023 9:54AM ET
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nothing but a bunch of idiocy. my sister put in a heat pump system and it cost about 4x a gas system and after about 15yrs the heat pump is already shot. she basically told me it's a waste. by law she was also required to have a backup system so had to install a gas furnace anyway. democrats need to go before they regulate how you wipe your arse...
Benjamin USA
Benjamin USA Apr 07, 2023 9:54AM ET
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My sister has a heat pump works fine for 40 years and cut her energy bill in half, turbo karen republicans need to go
Stephen Fa
Stephen Fa Apr 06, 2023 10:04AM ET
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Until Democrats have a congressional majority, I doubt outlawing gas appliances lawfully unless Biden trashes respect for the Constitution again, such as with student loan bailout spending.
jason xx
jason xx Apr 06, 2023 8:56AM ET
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I will never cook on an electric stove. Electric heat is 3x as much as ng
Rubbing Hands
Rubbing Hands Apr 06, 2023 8:56AM ET
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the electricity is made with NG in many areas too. this regulation they are pushing is criminal.
 
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