UGI Corporation is an LPG distribution company headquartered in King of Prussia, Pennsylvania, with extensive operations in the United States, Europe and the United Kingdom. In July 2014 the company disclosed it was acquiring Totalgaz S.A.'s LPG distribution operations in France for EUR450 million ($615 million).
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History
UGI was incorporated in 1882 as United Gas Improvement Co. In 1903, United Gas Improvement owned the majority of the stock of the Equitable Illuminating Gas Light Company. The latter utility operated the Philadelphia Gas Works at the time.
United Gas Improvement formed the United Electric Company of New Jersey in 1899. United Electric consolidated several electric and lighting utilities into a single holding company. New Jersey's Public Service Corporation took over United Electric from UGI in 1907. United Electric was ultimately merged into Public Service Electric & Gas.
In October 1964, Industrial Gases, Inc., of Pittsburgh filed an antitrust suit in federal district court charging United Gas Improvement with attempting to eliminate competition in sales of bottled propane gas in Pittsburgh. The Philadelphia Gas Works division of UGI challenged a ruling of the Federal Power Commission. The FPC lowered the maximum price that natural gas producers could charge to sixteen cents per 1,000 cubic feet (28 m3) of gas. This mandate was upheld by the United States Supreme Court in May 1968.
In February 1968, the company changed its name to UGI Corporation.
UGI remains one of the lowest paying utility companies in the North East.
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Operations
Under the UGI Utilities, Inc., UGI serves 570,000 natural gas and 60,000 electricity customers in eastern and central Pennsylvania, including customers of UGI Penn Natural Gas (formerly PG Energy) and UGI Central Penn Gas (formerly PPL Gas Utilities). UGI Utilities operates in the urban areas in and around Harrisburg, Lancaster, Reading, Allentown, Bethlehem, Easton, Hazleton, Wilkes Barre, Lock Haven, Pottsville, Stroudsburg, Lewistown, Huntingdon, Shippensburg, Lewisburg, Scranton and Williamsport.
UGI's propane holdings include control of AmeriGas Partners, L.P. NYSE: APU, the largest propane marketer in the United States. UGI also owns AvantiGas, Antargaz and Flaga in Europe.
UGI also markets a variety of energy products and operates premier interstate and intrastate transmission and gas storage assets in the Marcellus Shale producing region through their UGI Energy Services company, based in Wyomissing, Pennsylvania.
Management
The information here is current to May, 2017
Marvin Schlanger has been non-executive Chairman of the Board since January 28, 2016, since the retirement of Lon Greenberg. He was previously presiding director of the board during Greenberg's term as Executive Chair and later non-Executive Chair.
John Walsh is President and CEO, succeeding Lon Greenberg on April 1, 2013.
Source of the article : Wikipedia
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