As Hope Gas continues its growth in the Mountain State by adding several utilities to its portfolio, it’s doing so with an eye toward the future of West Virginia.
Since Hope Gas’ acquisition by Ullico in September 2022, Hope Gas has completed four West Virginia acquisitions, increasing its customer base by approximately 18% while adding more than 1,500 miles of pipeline. As of April 2024, the completed acquisitions include Equitrans, Hometown Gas, Peoples Gas WV and Southern Public.
In that same month, the Public Service Commission of West Virginia also approved Hope Gas’ acquisition of Standard Gas Co. and Bazzle Gas Co. These acquisitions are expected to close mid-2024. And in May, the utility also announced an agreement to purchase Consumers Gas Utility Company, subject to review and approval by the PSC.
According to Hope Gas, the company is eager to create economic opportunities for community members by partnering with local businesses and ensuring it is the most affordable service alternative for its customers.
“By being purposeful in every dollar we spend to support the businesses that are our customers and by partnering with labor here, we ensure that we are helping to grow the workforce and grow the vitality of our state,” Morgan O’Brien, CEO of Hope Gas, told American Gas.
While Hope Gas has created more than 200 jobs since 2022, its current pipeline replacement program is anticipated to create more than 400 jobs for contractors. In addition, Hope Gas is consolidating many internal processes that had previously occurred in other states, creating West Virginia-based jobs in various departments, including legal, accounting, facilities, information technology and supply chain. Hope Gas has also created new customer service and gas control centers at its newly established headquarters in Morgantown, West Virginia.
The utility reports it plans to continue growth in West Virginia and in the other states where it operates natural gas utilities, including Ohio, North Carolina, Maine, Montana and Indiana.
“Our team has built the Hope Gas business plan around growth, reliability and driving economic development throughout the state,” O’Brien said. “These acquisitions continue Hope’s investment in building the future of West Virginia. We will leverage West Virginia’s rich energy supply and distribution system as a benefit to economic development.”