PSC endorses Hope acquisition of Peoples
CHARLESTON — The Public Service Commission of West Virginia granted formal approval Monday for the acquisition of a smaller central West Virginia gas utility and its merger into Hope Gas Inc. For $37 million, Hope will acquire Peoples Gas WV LLC, which has 12,917 customers in 15 counties, many of which are served by Hope, a Morgantown-based utility. Peoples’ base rates are lower than Hope’s and will continue at that level until Hope files a rate case with the commission. However, Hope will apply a surcharge currently in effect for its pipeline replacement and expansion ...