Southern Company and AGL Resources received unanimous regulatory approval of the companies' proposed merger from the New Jersey Board of Public Utilities (BPU), which settles all issues in the proceeding.
AGL Resources is the parent company of Elizabethtown Gas, a regulated utility providing natural gas distribution services to customers in New Jersey.
The BPU's decision represents the final regulatory approval needed to close the previously announced merger, which was unanimously approved by state regulators in each of the six required jurisdictions in just 10 months. Subject to the satisfaction of other customary closing conditions, Southern Company and AGL Resources intend to close the transaction on or around July 1.
When completed, the combination of Southern Company and AGL Resources is expected to create the second-largest utility company in the U.S. by customer base, bringing together:
- Eleven regulated electric and natural gas distribution companies providing service to approximately 9 million customers.
- Operations of nearly 200,000 miles of electric transmission and distribution lines.
- More than 80,000 miles of gas pipelines.
- Approximately 44,000 megawatts of electricity generating capacity.