Dominion Retail Sells Customer Book

Dominion Retail, doing business as Dominion Energy Solutions, said that it has sold a book of retail energy supply customers.

Specifically, Dominion Retail said that it has sold a book of 33,000 Illinois natural gas customer contracts, effective June 30, 2013.

Dominion Retail could not confirm the identity of the purchaser.

During an earnings call, executives said that the sale reflects the decision to monetize the Illinois gas market investment (dating back to 2002 and an alliance with Peoples Energy Corporation), and to redeploy capital to other markets. As the retail business is a maturing business, investors should expect the company to routinely shift resources to states that feature better current and future returns, with resources shifted away from markets with lower returns.

Additional details may be provided in a 10-Q expected to be filed by parent Dominion later this morning or afternoon. The 10-Q was not available as of publication time.

However, as first reported by EnergyChoiceMatters.com, AGL Resources recently announced that one of its subsidiaries had purchased a book of 33,000 Illinois natural gas customers, from an undisclosed seller, effective June 30, 2013 (see prior story for more details, including purchase price).