Morgantown, WV, Oct. 02, 2023 (GLOBE NEWSWIRE) -- MORGANTOWN, WV. (October 2, 2023) – Hope Gas today announced that it closed the acquisition of Peoples Gas WV with Essential Utilities (NYSE: WTRG). The acquisition of Peoples Gas WV adds 13,000 new customers and grows the company’s customer base by approximately 10%.
“I welcome our new customers and employees to Hope Gas,” said Morgan O’Brien, CEO of Hope Gas. “This acquisition continues Hope’s growth and our investment in building the future of West Virginia. West Virginia’s rich energy supply and distribution system is a benefit to economic development. It is a key piece in attracting other businesses to this beautiful state.”
Founded in 1898, Hope Gas is already one of the largest local natural gas distribution companies in West Virginia. The Hope Gas vision is to be a leader in the energy industry in the Mountain State and to empower and improve communities through the safe delivery of local, abundant, and reliable energy. Hope Gas now serves approximately 125,000 homes and businesses. It owns and operates over 6900 miles of natural gas pipelines throughout the state.
Hope Gas and Peoples are working together to ensure a seamless transition of service for the customers who are part of this acquisition. There will be a transition period of up to 12 months from the closing date. During this transition period, customers should continue to contact the Peoples emergency hotline at 1-800-400-4271 to report any gas emergencies. They should also continue to contact Peoples’ customer service team during this transition time.
Hope Gas was acquired from Dominion Energy in September 2022. Over the last year, Hope has created more than 100 family-sustaining jobs, established its corporate headquarters in Morgantown, WV and invested in improving the state’s pipeline infrastructure. In May 2023, Hope Gas announced it purchased 900 miles of gathering pipelines from Equitrans, and it more recently entered into an agreement to purchase Southern Public Service Company.
“We have built our business plan around growth, reliability and driving economic development throughout the state,” continued O’Brien. “Hope Gas has already created over 100 jobs, and by the end of the year that number will increase to 200 jobs. Our continued infrastructure investments also result in a cascading effect of job growth throughout the state. In addition, we are committed to using West Virginia based suppliers wherever possible. We are proud to have served West Virginia customers for 125 years and are excited about the future of the Mountain State.”
Hope Gas is a subsidiary of Hearthstone Holdings, a holding company that owns regulated natural gas and water distribution utilities in West Virginia, Arizona, Indiana, Maine, Michigan, Montana, North Carolina, and Ohio.
Explore career opportunities with Hope Gas at HopeGasJobs.com.
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About Hope Gas: Hope Gas is a Local Distribution Company (LDC) that proudly provides gas service to approximately 125,000 residential, industrial, and commercial customers in thirty-five West Virginia counties. We monitor and maintain more than 6900 miles of pipelines that safely deliver West Virginia natural gas to many homes and commercial and industrial sites. We currently employ over 400 employees working right here in our beautiful Mountain State with the sole purpose of staying true to our company’s mission and vision in West Virginia. Learn more at HopeGas.com.
About Hearthstone: Hearthstone is a holding company that owns natural gas and water distribution utilities across 9 states. The company provides service to more than 227,000 residential, commercial, and industrial customers in the communities it serves. Hearthstone currently operates natural gas utilities in Indiana, Maine, Montana, North Carolina, Ohio, and West Virginia; and water and wastewater utilities in Arizona, Michigan, and Texas. The company also provides natural gas production and natural gas marketing through its subsidiary companies. Hearthstone’s growth strategy is built on being a trusted member of the communities it serves, providing its customers with safe, reliable, and cost-effective utility service. Learn more at hearthstonecompany.com.
