AltaGas on Wednesday extended its retail operations into Ontario with the C$23.2 million purchase of PremStar Energy Canada Ltd. and its subsidiaries ECNG Inc. and Energistics Group Inc.

PremStar specializes in a low risk, fee-based business of bringing physical energy supply from the gas field directly to end use customers located primarily in Ontario. The company arranges transportation and supports customers with market information.

The purchase includes C$22 million payable by way of 993,789 AltaGas Income Trust Units plus $1.2 million cash. A final agreement is expected by July 1.

AltaGas’ current gas utility operations are located in Alberta through AltaGas Utilities Inc., in the Northwest Territories through the Ikhil Gas Project and in Nova Scotia through Heritage Gas Ltd.

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