Piedmont Natural Gas PNY today announced an additional $22.5 million cash contribution to its
existing investment in SouthStar Energy Services, a joint venture with AGL
Resources GAS. The additional investment, effective September 1,
maintains Piedmont's 15 percent ownership level in SouthStar, which markets
and sells unregulated retail natural gas to customers in the southeastern
United States, as well as Ohio, New York and Maryland.
Simultaneous with the cash contribution by Piedmont, AGL Resources will
contribute to SouthStar the unregulated retail natural gas customer accounts
and related assets it acquired from Nicor Inc. in December, 2011 and the
unregulated retail natural gas customer accounts it acquired in a separate
transaction in June 2013, both in Illinois. The addition of this Illinois book
of business to SouthStar's market footprint will expand the retail energy
marketer's customer base by approximately 108,000 customers.
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