MarketWatch:

Dominion said Wednesday it’ll sell two gas utilities for $910 million. The Richmond, Va. electric and natural gas utility firm said Babcock & Brown Infrastructure Fund North America, a San Francisco-based infrastructure fund, will buy Dominion Peoples and Dominion Hope natural gas distribution companies. The deal is expected to close in 2009. Dominion plans to use all after-tax proceeds, expected to be approximately $675 million to reduce debt.