Essential Utilities Closes The Sale Of Allegheny County Microgrid And District Energy Projects To Cordia
Portfolio Pulse from Benzinga Newsdesk
Essential Utilities has completed the sale of its Allegheny County microgrid and district energy projects to Cordia. Essential, along with its subsidiary Peoples, will now concentrate on its primary role as a regulated utility, while still supporting local energy innovations that ensure safety, reliability, and sustainability for the region.

January 31, 2024 | 6:27 am
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Essential Utilities, trading as WTRG, has sold its microgrid and district energy projects, indicating a strategic refocus on its core operations as a regulated utility. This move may reassure investors of a strengthened commitment to its primary business.
The sale of non-core assets like the microgrid and district energy projects suggests that Essential Utilities is streamlining its operations to focus on its main regulated utility business. This could be viewed positively by investors as it may lead to improved efficiency and profitability in the company's core areas. The short-term impact on the stock price is likely to be positive, as the market often reacts favorably to companies strengthening their focus on core competencies.
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