BRIDGEPORT, W.Va. — A spokesman for Dominion Energy says approximately 500 of its employees in West Virginia, who will begin working for Berkshire Hathaway later this year, will learn the new owner operates much the same as Dominion.
“Berkshire Hathaway is an iconic world-class company. They share our values on safety, operational excellence, environmental compliance and I have every confidence that they will be a good corporate citizen in West Virginia,” Dominion Energy Manager of Media Relations Aaron Ruby said.
Dominion explained its decision to sell its gas transmission and storage to the Warren Buffett-owned company during a conference call with investors Monday. Ruby discussed the transaction during an appearance on MetroNews “Talkline.”
— MetroNews (@WVMetroNews) July 6, 2020
Most of the Dominion workers in West Virginia are based at a facility on White Oaks Boulevard in Bridgeport. Ruby said they would continue to work there.
“They (Berkshire Hathaway) are going to honor all of our union contracts. They guaranteed benefits for all employees for at least two years and no one is going to have to relocate because of the sale,” Ruby said.
Berkshire Hathaway and Dominion hope to close the $4 billion deal before the end of the calendar year. Berkshire Hathaway is taking on $10 billion of Dominion’s debt as part of the transaction.
Dominion, as explained in Monday’s call with investors, is moving more toward a pure-play regulated utility company that will focus on wind, solar and natural gas. Dominion President and CEO Thomas Farrell said Monday the transaction with Berkshire Hathaway was separate from the company’s decision, with Duke Energy, to cancel the Atlantic Coast Pipeline project.