South Jersey Industries creates holding company

The South Jersey Industries Board of Directors has approved creating SJI Utilities, a holding company for its South Jersey Gas, Elizabethtown Gas and Elkton Gas utilities.The South Jersey Industries Board of Directors has approved creating SJI Utilities, a holding company for its South Jersey Gas, Elizabethtown Gas and Elkton Gas utilities.

Both Elizabethtown Gas and Elkton Gas were acquired in July for $1.7 billion.

“A critical part of this successful acquisition will be executing a ‘best of best’ approach that strengthens all our utilities and optimizes our ability to provide safe, reliable, affordable natural gas to our 681,000 customers in New Jersey and Maryland,” SJIU President Dave Robbins said in a release.

Robbins previously served as president of South Jersey Gas and will now serve as president of SJIU. Craig Jennings has been named his successor at South Jersey Gas, and will serve as president and chief operations officer.