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Fund Manager To Acquire Pennsylvania Utility With Energy Choice Program
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UGI Utilities, Inc. today announced a definitive agreement to sell its Electric Division to funds managed by Argo Infrastructure Partners LP (Argo)
The purchase price is approximately $470 million with working capital adjustments.
UGI Utilities’ Electric Division serves more than 63,000 customers in Pennsylvania’s Luzerne and Wyoming counties, with approximately 2,700 miles of transmission and distribution lines and 14 substations
UGI said that after-tax proceeds will be used to reduce UGI debt and for general corporate purposes, "strengthening UGI's balance sheet and providing greater financial flexibility."
UGI said that the sale of the electric utility, "sharpens UGI's focus on its core natural gas business[.]"
The transaction is expected to close in the first quarter of calendar year 2027, subject to customary closing conditions and applicable regulatory approvals.
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April 28, 2026
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Copyright 2026 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com
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