Dominion Energy and Berkshire Hathaway Energy Agree to Terminate Sale of Questar Pipelines; Dominion Energy Commencing Competitive Sale Process

Termination of the sale, effective July 9, 2021, was a potential outcome provided for in the agreement to sell Questar Pipelines. The decision has no impact on the sale of gas transmission and storage assets to Berkshire Hathaway Energy completed in November 2020. That sale represented approximately 80% of the original transaction value.

Dominion Energy is commencing a competitive process for the sale of Questar Pipelines, with a target close of year-end 2021. 

Today's announcement does not change Dominion Energy's existing financial guidance. Dominion Energy will continue to account for Questar Pipelines as discontinued operations. Dominion Energy intends to enter into a 364-day term loan. The company will use proceeds from the loan to repay the approximately $1.3 billion transaction deposit made by Berkshire Hathaway Energy. That loan is expected to be repaid by year-end 2021 with proceeds from the sale of Questar Pipelines to an alternative buyer.

This release contains certain forward-looking statements with respect to certain future plans concerning the sale of Dominion Energy Questar Pipeline, LLC, and associated entities (the "Q-Pipe Group"), and the repayment of outstanding debt with the proceeds of such sale, which are subject to various risks and uncertainties. Factors that could cause actual results to differ include, but are not limited to: Dominion Energy's ability to enter into an agreement for any future sale of the Q-Pipe Group; the expected timing and likelihood of completion of any such transaction; the risk that Dominion Energy or any potential buyer of the Q-Pipe Group may be unable to obtain any necessary regulatory approvals for the transaction or that required regulatory approvals may delay the transaction; and the risk that any conditions to the closing of any such transaction may not be satisfied.  Other risk factors are detailed from time to time in Dominion Energy's quarterly reports on Form 10-Q and most recent annual report on Form 10-K filed with the Securities and Exchange Commission.  These forward-looking statements speak only as of the date of this press release. Dominion Energy assumes no obligation to provide any revisions to, or update, any projections and forward-looking statements contained in this press release.

SOURCE Dominion Energy

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