WV-PSC REJECTS DOMINION GAS SALE - "Not In Public Interest"

(12/23/2009)

The West Virginia Public Service Commission has rejected the sale of natural gas utility Dominion Hope to a San Francisco investment company. The Public Service Commission said yesterday the sale to SteelRiver Infrastructure Partners was not in the public interest. The PSC is objecting to SteelRiver's demand for an immediate $7.2 million rate increase as part of the sale. SteelRiver agreed to buy Hope and a related Pennsylvania utility, Peoples Natural Gas from the Richmond, Va.-based Dominion Resources for $910 million.

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