Enbridge (NYSE:ENB) stock is down about 5% today. The company announced that it will spend roughly $14 billion to acquire three natural gas utilities. Canada-based Enbridge manages pipelines used to transport oil and natural gas.

Enbridge has agreed to acquire Ohio Gas, Questar Gas, and Public Service Co. from Dominion Energy (NYSE:D) for “$9.4 billion in cash and $4.6 billion of assumed debt,” Reuters reported. In the wake of the acquisitions, the Canadian company will provide about 9.3 billion cubic feet per day of natural gas “to about 7 million customers in Ohio, North Carolina, Utah, Idaho and Wyoming.”

The deal will make Enbridge North America’s largest provider of natural gas. According to Bloomberg, it also represents “a massive bet (by Enbridge) that gas will remain a transition fuel for the foreseeable future.”

The Canadian company will sell stock worth 4 billion Canadian dollars to fund the acquisitions. The deal will likely go through next year, pending approval from multiple government regulators.

The State of the Electricity Industry and ENB Stock

In late July, Tesla (NASDAQ:TSLA) CEO Elon Musk predicted that U.S. electricity demand, driven by the electrification of transportation and the proliferation of artificial intelligence (AI), would “triple by around 2045.” Earlier in July, Musk had said that America could suffer electricity shortfalls in 2025.

Enbridge’s acquisitions appear to be a huge bet that America’s looming, increased demand for electricity will be satisfied partly by much greater utilization of natural gas. If Enbridge’s bet pays off, many natural gas producers and the companies that develop equipment and infrastructure for them should prosper over the long term.

On the date of publication, Larry Ramer did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.