CALGARY, June 28, 2018 /CNW/ - AltaGas Ltd. (AltaGas)
(TSX:ALA) and WGL Holdings, Inc. (WGL) (NYSE:WGL) today issued the
following statement in response to the oral decision of the Public
Service Commission of the District of
Columbia (DC PSC) to approve the AltaGas and WGL
transaction (the WGL Acquisition) with certain modifications
to the unanimous settlement agreement dated May 8, 2018:
"We are pleased the DC PSC is prepared to unanimously approve
the proposed combination of AltaGas and WGL," said David Harris, President and Chief Executive
Officer of AltaGas. "The Commission indicated the written order
will include certain additional conditions, in alignment with the
unanimous settlement agreement. AltaGas will review the conditions
so we are in a position to meet the Commission's timeline for
acceptance by settling parties within five days, upon which
approval of the WGL Acquisition will be final. We are
confident that the combined company will deliver exceptional
service at affordable rates to customers in the District, while
promoting local employment and job creation in the energy sector
and providing more clean energy choices to customers."
Learn more about the combination at
www.wgldeliveringmore.com.
About AltaGas
AltaGas is an energy infrastructure company with a focus on
natural gas, power and regulated utilities. AltaGas creates value
by acquiring, growing and optimizing its energy infrastructure,
including a focus on clean energy sources. For more information
visit: www.altagas.ca
This news release contains forward-looking statements. When
used in this news release, words such as "may", "would", "could",
"can", "will", "be", "intend", "possible", "plan", "develop",
"anticipate", "target', "believe", "seek", "propose", "continue",
"estimate", "expect", and similar expressions, as they relate to
AltaGas or an affiliate of AltaGas, are intended to identify
forward-looking statements. This news release contains
forward-looking statements with respect to, among other things,
anticipated receipt of the Commission's written order and
additional conditions; the expected ability to meet the
Commission's timeline; the expected final approval; the benefits of
the WGL Acquisition, including without limitation, the improved
ability to deliver exceptional service at affordable rates, and
ability to provide local employment and job creation. These
statements involve known and unknown risks, uncertainties and other
factors that may cause actual results or events to differ
materially from those anticipated in such forward-looking
statements. Such statements reflect AltaGas' current views with
respect to future events based on certain material factors and
assumptions and are subject to certain risks and uncertainties,
including without limitation, changes in market, competition,
governmental or regulatory developments, general economic
conditions and other factors set out in AltaGas' public disclosure
documents. Many factors could cause AltaGas' actual results,
performance or achievements to vary from those described in this
news release, including without limitation those listed above.
These factors should not be construed as exhaustive. Should one or
more of these risks or uncertainties materialize, or should
assumptions underlying forward-looking statements prove incorrect,
actual results may vary materially from those described in this
news release as intended, planned, anticipated, believed, sought,
proposed, estimated or expected, and such forward-looking
statements included in, or incorporated by reference in this news
release, should not be unduly relied upon. Such statements speak
only as of the date of this news release. AltaGas does not intend,
and does not assume any obligation, to update these forward-looking
statements. The forward-looking statements contained in this news
release are expressly qualified by this cautionary
statement.
SOURCE AltaGas Ltd.