Enbridge Completes Acquisition of Public Service Company of North Carolina, Incorporated
Enbridge Inc. (TSX: ENB) (NYSE: ENB) has completed the acquisition of Public Service Company of North Carolina, Incorporated (PSNC) from Dominion Energy, Inc. PSNC, now operating as Enbridge Gas North Carolina, joins Enbridge's Gas Distribution and Storage Business Unit. This acquisition is part of a strategic move to acquire three U.S. based gas utilities announced in September 2023.
PSNC is a regulated gas utility serving over 600,000 customers in North Carolina, with operations in high-growth areas like Raleigh, Durham, Gastonia, and Asheville. Its assets include over 13,000 miles of gas distribution and transmission pipelines, a liquefied natural gas storage facility under construction, and minority interests in related infrastructure.
The acquisition aligns with Enbridge's low-risk utility business model and highlights the long-term importance of natural gas infrastructure. Enbridge aims to integrate PSNC's assets and build relationships with stakeholders in North Carolina.
Enbridge Inc. (TSX: ENB) (NYSE: ENB) ha completato l'acquisizione della Public Service Company of North Carolina, Incorporated (PSNC) da Dominion Energy, Inc. PSNC, ora operante come Enbridge Gas North Carolina, si unisce all'Unità di Distribuzione e Stoccaggio del Gas di Enbridge. Questa acquisizione fa parte di una mossa strategica per acquisire tre utility del gas con sede negli Stati Uniti, annunciata a settembre 2023.
PSNC è un utility del gas regolamentata che serve oltre 600.000 clienti nella Carolina del Nord, con operazioni in aree ad alta crescita come Raleigh, Durham, Gastonia e Asheville. I suoi beni includono oltre 13.000 miglia di gasdotti di distribuzione e trasmissione, un impianto di stoccaggio di gas naturale liquefatto in costruzione e partecipazioni di minoranza in infrastrutture correlate.
L'acquisizione si allinea con il modello di business delle utility a basso rischio di Enbridge e sottolinea l'importanza a lungo termine delle infrastrutture del gas naturale. Enbridge mira a integrare i beni di PSNC e a costruire relazioni con gli stakeholder nella Carolina del Nord.
Enbridge Inc. (TSX: ENB) (NYSE: ENB) ha completado la adquisición de la Public Service Company of North Carolina, Incorporated (PSNC) de Dominion Energy, Inc. PSNC, que ahora opera como Enbridge Gas North Carolina, se une a la Unidad de Distribución y Almacenamiento de Gas de Enbridge. Esta adquisición es parte de un movimiento estratégico para adquirir tres servicios públicos de gas con sede en EE. UU. anunciado en septiembre de 2023.
PSNC es un servicio público de gas regulado que atiende a más de 600,000 clientes en Carolina del Norte, con operaciones en áreas de alto crecimiento como Raleigh, Durham, Gastonia y Asheville. Sus activos incluyen más de 13,000 millas de tuberías de distribución y transmisión de gas, una instalación de almacenamiento de gas natural licuado en construcción y participaciones minoritarias en infraestructura relacionada.
La adquisición se alinea con el modelo de negocio de servicios públicos de bajo riesgo de Enbridge y destaca la importancia a largo plazo de la infraestructura de gas natural. Enbridge tiene como objetivo integrar los activos de PSNC y construir relaciones con las partes interesadas en Carolina del Norte.
Enbridge Inc. (TSX: ENB) (NYSE: ENB)는 도미니온 에너지(Dominion Energy, Inc.)로부터 노스캐롤라이나 공공 서비스 회사(Public Service Company of North Carolina, Incorporated, PSNC)를 인수 완료했습니다. 현재 Enbridge Gas North Carolina라는 이름으로 운영되는 PSNC는 Enbridge의 가스 배급 및 저장 사업 부문에 합류합니다. 이 인수는 2023년 9월에 발표된 미국 내 3개의 가스 유틸리티 인수를 위한 전략적 움직임의 일환입니다.
PSNC는 노스캐롤라이나에서 60만 명 이상의 고객에게 서비스를 제공하는 규제된 가스 유틸리티입니다. 이 회사는 롤리, 더햄, 가스토니아 및 애쉬빌과 같은 고성장 지역에서 운영되고 있습니다. 자산에는 13,000마일 이상의 가스 배급 및 전송 파이프라인, 건설 중인 액화 천연가스 저장 시설, 관련 인프라에 대한 소수지분 등이 포함됩니다.
이 인수는 Enbridge의 저위험 유틸리티 비즈니스 모델과 일치하며, 천연 가스 인프라의 장기적 중요성을 강조합니다. Enbridge는 PSNC의 자산을 통합하고 노스캐롤라이나의 이해관계자들과 관계를 구축하는 것을 목표로 합니다.
Enbridge Inc. (TSX: ENB) (NYSE: ENB) a achevé l'acquisition de la Public Service Company of North Carolina, Incorporated (PSNC) auprès de Dominion Energy, Inc. PSNC, désormais opérant sous le nom de Enbridge Gas North Carolina, rejoint l'Unité de Distribution et de Stockage de Gaz d'Enbridge. Cette acquisition fait partie d'une initiative stratégique visant à acquérir trois services publics de gaz basés aux États-Unis, annoncée en septembre 2023.
PSNC est un service public de gaz réglementé desservant plus de 600 000 clients en Caroline du Nord, avec des activités dans des zones en forte croissance comme Raleigh, Durham, Gastonia et Asheville. Ses actifs incluent plus de 21 000 kilomètres de pipelines de distribution et de transport de gaz, une installation de stockage de gaz naturel liquéfié en construction et des participations minoritaires dans des infrastructures connexes.
L'acquisition s'inscrit dans le modèle commercial à faible risque d'Enbridge et souligne l'importance à long terme de l'infrastructure gazière. Enbridge vise à intégrer les actifs de PSNC et à établir des relations avec les parties prenantes en Caroline du Nord.
Die Enbridge Inc. (TSX: ENB) (NYSE: ENB) hat die Übernahme des Public Service Company of North Carolina, Incorporated (PSNC) von Dominion Energy, Inc. Enbridge Gas North Carolina bietet jetzt Dienstleistungen an und wird Teil der Gasverteilungs- und Speichergeschäftseinheit von Enbridge. Diese Übernahme ist Teil einer strategischen Initiative, drei in den USA ansässige Gasversorgungsunternehmen zu akquirieren, die im September 2023 angekündigt wurde.
PSNC ist ein reguliertes Gasversorgungsunternehmen, das über 600.000 Kunden in North Carolina bedient, mit Aktivitäten in wachstumsstarken Gebieten wie Raleigh, Durham, Gastonia und Asheville. Zu den Vermögenswerten zählen über 13.000 Meilen Gasverteilungs- und Übertragungsleitungen, eine im Bau befindliche Verladestation für verflüssigtes Erdgas und Anteile an verwandter Infrastruktur.
Die Übernahme stimmt mit dem risikoarmen Geschäftsmodell von Enbridge überein und unterstreicht die langfristige Bedeutung der Erdgasinfrastruktur. Enbridge hat sich zum Ziel gesetzt, die Vermögenswerte von PSNC zu integrieren und Beziehungen zu den Interessengruppen in North Carolina aufzubauen.
- Acquisition of PSNC expands Enbridge's customer base by over 600,000 in high-growth areas
- Addition of 13,000+ miles of gas distribution and transmission pipelines to Enbridge's portfolio
- Acquisition aligns with Enbridge's low-risk utility business model
- Enhances Enbridge's presence in the U.S. gas utility market
- None.
Insights
The acquisition of Public Service Company of North Carolina (PSNC) by Enbridge marks a significant expansion of their gas utility portfolio. This strategic move adds over 600,000 customers and 13,000 miles of pipeline infrastructure in high-growth areas of North Carolina. The deal enhances Enbridge's utility business model and provides embedded growth opportunities.
Key points to consider:
- PSNC serves economically robust areas like Raleigh and Durham, potentially driving steady revenue growth.
- The acquisition includes valuable assets such as an LNG storage facility under construction, which could improve system reliability and operational efficiency.
- This completes Enbridge's acquisition of three U.S. gas utilities announced in September 2023, indicating a broader strategic shift towards regulated utility assets.
- The move aligns with the long-term demand for natural gas infrastructure, potentially providing stable cash flows and dividends for investors.
While the financial terms weren't disclosed, this acquisition likely strengthens Enbridge's position in the regulated utility sector, potentially offering more predictable earnings and reducing overall business risk. Investors should monitor how effectively Enbridge integrates these new assets and capitalizes on the growth opportunities in North Carolina's expanding markets.
Enbridge's acquisition of PSNC is a strategic move that significantly expands its footprint in the U.S. gas utility market. This deal positions Enbridge to capitalize on the growing demand for natural gas in North Carolina's rapidly developing urban centers.
Market implications:
- The acquisition taps into North Carolina's robust economic growth, particularly in tech hubs like Raleigh-Durham, potentially driving increased energy demand.
- By acquiring a regulated utility, Enbridge gains a stable revenue stream, which could appeal to income-focused investors.
- The deal aligns with the broader industry trend of consolidation in the utility sector, as companies seek economies of scale and diversification.
- The addition of LNG storage facilities enhances Enbridge's ability to manage supply fluctuations, potentially improving service reliability and operational efficiency.
Investors should consider how this acquisition might impact Enbridge's risk profile, potentially reducing volatility by increasing the proportion of regulated earnings. The move also demonstrates Enbridge's commitment to natural gas as a transition fuel, which could be viewed positively or negatively depending on one's outlook on the future of energy markets and environmental regulations.
PSNC is a premier single-state regulated gas utility in
"We are pleased to finalize the acquisition from Dominion Energy of three growing gas utilities, by welcoming PSNC to Enbridge. The values and operations of our businesses are strongly aligned, and we share a deep commitment to the continued safe delivery of reliable, affordable natural gas to our customers," said Michele Harradence, Enbridge Executive Vice President and President, Gas Distribution and Storage. "PSNC is a perfect fit within our existing low-risk, utility business model and the embedded growth opportunities underscore the critical need for natural gas infrastructure over the long term. We are excited to work with our new PSNC employees to integrate the assets and complement the growth we are already seeing in
About Enbridge Inc.
At Enbridge, we safely connect millions of people to the energy they rely on every day, fueling quality of life through our North American natural gas, oil and renewable power networks and our growing European offshore wind portfolio. We're investing in modern energy delivery infrastructure to sustain access to secure, affordable energy and building on more than a century of operating conventional energy infrastructure and two decades of experience in renewable power. We're advancing new technologies including hydrogen, renewable natural gas, carbon capture and storage. Headquartered in
Forward-Looking Statements
Forward-looking statements have been included in this news release to provide readers with information about Enbridge and its subsidiaries and affiliates, including management's assessment of Enbridge's and its subsidiaries' future plans and operations. This information may not be appropriate for other purposes. Forward-looking statements are typically identified by words such as ''anticipate'', ''expect'', ''project'', ''estimate'', ''forecast'', ''plan'', ''intend'', ''target'', ''believe'', "likely", and similar words suggesting future outcomes or statements regarding an outlook. Forward-looking information or statements included or incorporated by reference in this news release include, but are not limited to, statements with respect to Enbridge's acquisition of PSNC, including growth opportunities and the need for natural gas infrastructure.
Although Enbridge believes these forward-looking statements are reasonable based on the information available on the date such statements are made and processes used to prepare the information, such statements are not guarantees of future performance and readers are cautioned against placing undue reliance on forward-looking statements. By their nature, these statements involve a variety of assumptions, known and unknown risks and uncertainties and other factors, which may cause actual results, levels of activity, and achievements to differ materially from those expressed or implied by such statements. Material assumptions include assumptions about the following: our ability to successfully integrate PSNC; the expected supply of, demand for, export of, and prices of crude oil, natural gas, natural gas liquids ("NGL"), liquefied natural gas ("LNG"), and renewable energy; energy transition and lower carbon energy and our approach thereto; global economic growth and trade; anticipated utilization of our assets; exchange rates; inflation; interest rates; customer, regulatory, and stakeholder support and approvals; general economic and competitive conditions; ability of management to execute key priorities; and the effectiveness of various actions resulting from the Company's strategic priorities. Assumptions regarding the expected supply of, and demand for, crude oil, natural gas, NGL, LNG, and renewable energy, and the prices of these commodities, are material to and underlie all forward-looking statements, as they may impact current and future levels of demand for Enbridge's services. Similarly, exchange rates, inflation, and interest rates impact the economies and business environments in which Enbridge operates and may impact levels of demand for Enbridge's services and cost of inputs and are therefore inherent in all forward-looking statements. Due to the interdependencies and correlation of these macroeconomic factors, the impact of any one assumption on a forward-looking statement cannot be determined with certainty.
Enbridge's forward-looking statements are subject to risks and uncertainties pertaining to the realization of anticipated benefits and synergies of projects, transactions and growth opportunities, successful execution of our strategic priorities, project approval and support, economic and competitive conditions, global geopolitical conditions, political decisions, public opinion, exchange rates, interest rates, inflation, commodity prices, and supply of, and demand for, commodities and other alternative energy, including, but not limited to, those risks and uncertainties discussed in this and in the Company's other filings with Canadian and
Except to the extent required by applicable law, Enbridge assumes no obligation to publicly update or revise any forward-looking statements made in this news release or otherwise, whether as a result of new information, future events, or otherwise. All forward-looking statements, whether written or oral, attributable to Enbridge or persons acting on Enbridge's behalf, are expressly qualified in their entirety by these cautionary statements.
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SOURCE Enbridge Inc.
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