TechCrunch article Piedman’s website said the new deal will “make the purchase even more attractive.”
A company spokesman declined to provide further details.
The deal is subject to regulatory approval.
Piedmont owns and operates a gas and electric transmission line that provides gas to about 2 million homes in the New York metropolitan area, according to the New Jersey Public Service Commission.
The Piedmans gas supply is “extremely important to our customers, who have been experiencing an energy shortage and have been without electricity for years,” said Piedma CEO Stephen T. Piedmiller.
“This transaction gives us a competitive advantage in the industry and a new source of energy for our customers.”
Piedmills proposed acquisition of Piedmill Natural Gas is subject of a federal and state review, which will determine whether the transaction is a “fair and reasonable” use of federal and New Jersey taxpayer dollars.
Read more about Piedmann’s acquisition of natural gas furnace here: http://techcrunch.com/2017/03/24/piedmans-piedmilling-acquisition-of-piesmont-natural-gas-furnace-for-30-k-price/