John F. Povilaitis and Alan M. Seltzer Noted in Law360 Article on EQT’s $720 Million Sale of Subsidiary to Peoples Getting Green Light from PUC

Law360’s recent article, “PA PUC OKs Settlement Key to $720M Utility Merger,” explains that a Pennsylvania judge approved a settlement agreement that ends an environmental group’s challenge to a the proposed sale of an EQT Corp. subsidiary to Peoples Natural Gas Co. LLC on Wednesday, November 7.

Plans to sell one of EQT’s affiliates to Peoples came in December 2012, followed by Citizens For Pennsylvania’s Future, an environmental group, challenging the pending sale. The environmental group said they would withdraw its protest of the pending merger “after Peoples agreed to commission a study of its demand-side management, or DSM, and develop a subsequent efficiency plan for its customers.”

Administrative Law Judge Mark A. Hoyer stated in his decision that “[t]he undersigned ALJ concludes that the transaction, as modified by the settlement, should not result in anti-competitive or discriminatory conduct in the retail market for natural gas in Pennsylvania,” Judge Hoyer said. “The transaction should not have any adverse effect on the retail natural gas market in Pennsylvania. To the contrary, it should have a positive effect on retail competition.”

Representing the EQT affiliate, Equitable Gas Company, is John F. Povilaitis and Alan M. Seltzer. 

Read the full article – “PA PUC OKs Settlement Key to $720M Utility Merger” (Law360, November 7, 2013)