South Jersey Industries confirms sale of retail gas assets to UGIStaff Writer | December 4, 2018
On November 30, 2018, SJI completed the sale of its retail gas assets within South Jersey Energy and Open Flow Energy to UGI Energy Services, a subsidiary of UGI Corporation.
Acquisition SJI will continue serving its retail electric customers
Through these subsidiaries, the company previously operated as a licensed, deregulated natural gas provider with over 2,500 customers located primarily in New Jersey, Pennsylvania, and Ohio.
“The sale of these assets represents another step in our ongoing effort to transform our business by monetizing non-core, non-regulated assets and operations and refocusing our business to emphasize high-quality, regulated earnings growth,” said Stephen H. Clark, President and Chief Operating Officer, South Jersey Energy Solutions.
“We look forward to collaborating with UGI to successfully transition our customers to a new provider for their retail natural gas needs.”
SJI will continue serving its retail electric customers as part of the South Jersey Energy retail electric business. ■