California Regulators Approve Southern, AGL Merger

California regulators approve Southern, AGL merger

The California Public Utilities Commission approved the proposed $7.93 billion merger between Southern Co. (NYSE: SO) and AGL Resources (NYSE: GAS).

When completed, the merger of the two companies is expected to create the second-largest utility in the U.S. by customer base, bringing together 11 regulated electric and natural gas distribution companies providing service to 9 million customers; operations of nearly 200,000 miles of electric transmission and distribution lines; more than 80,000 miles of gas pipelines; and approximately 44,000 MW of electricity generating capacity.

AGL Resources is the parent company of Central Valley Gas Storage, a natural gas storage facility in the Sacramento Valley. The deal is expected to close in the second half of 2016.

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