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| Formerly | United Gas Improvement Co. |
|---|---|
| Company type | Public company |
| NYSE: UGI S&P 400 component | |
| Industry | Energy industry |
| Founded | 1882; 143 years ago (1882) |
| Headquarters | |
Area served | United States Europe |
Key people | Mario Longhi,Chairperson Bob Flexon,CEO Sean O'Brien,CFO |
| Revenue |  $7.651 billion (2018) |
| $0.718 billion (2018) | |
| Total assets | $11.980 billion (2018) |
| Total equity | $3.681 billion (2018) |
Number of employees | 7,700 (2018) |
| Subsidiaries | UGI Utilties UGI Energy Services Mountaineer Gas Co. AmeriGas UGI International |
| Website | www |
| Footnotes / references [1] | |
UGI Corporation (formerlyUnitedGasImprovement Corp.) is a natural gas andelectric power distribution company headquartered inKing of Prussia, Pennsylvania, with extensive operations in theUnited States andEurope.[1]
UGI ownsAmeriGas, the largestpropane marketer in the United States. UGI also owns AvantiGas,Antargaz and Flaga in Europe.[1]
UGI also operates interstate and intrastate transmission andnatural gas storage assets in theMarcellus Shale.[1]
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UGI was incorporated in 1882 as United Gas Improvement Co.
In 1903, the company owned the majority of the stock of the Equitable Illuminating Gas Light Company, which operated thePhiladelphia Gas Works.[2]
The company formed the United Electric Company ofNew Jersey in 1899. United Electric consolidated several electric and lighting utilities into a singleholding company.[3]
Public Service Corporation of New Jersey took over United Electric in 1907.[4][5] United Electric was ultimately merged intoPublic Service Enterprise Group.
In October 1964, Industrial Gases, Inc., ofPittsburgh, Pennsylvania, filed anantitrust suit inUnited States district court charging the company with attempting to eliminate competition in sales of bottledpropane gas in Pittsburgh.[6] The Philadelphia Gas Works division of UGI challenged a ruling of theFederal Power Commission. The FPC lowered the maximum price that natural gas producers could charge to $0.16 per 1,000 cubic feet (28 m3) of gas. This mandate was upheld by theSupreme Court of the United States in May 1968.[7]
In February 1968, the company changed its name to UGI Corporation.[8][9]
In 1993, through itsAmeriGas subsidiary, the company acquired Petrolane, which was inbankruptcy.[10]
In 1999, the company offered to acquireUnisource Worldwide, a distributor of office paper, but it was outbid byGeorgia-Pacific.[11]
On April 1, 2013, John Walsh succeeded Lon Greenberg aspresident andchief executive officer.[12]
In May 2015, the company acquiredTotalgaz S.A.'sliquefied petroleum gas distribution operations in France for €423 million.[13]
In October 2017, the company acquiredTotalgaz Italia, a liquefied petroleum gas distribution business, and renamed it UniverGas Italia.[14]
In December 2018, the company acquiredSouth Jersey Industries’s retail natural gas business.[15]
On August 1, 2019, the company acquired Columbia Midstream Group for approximately $1.275 billion.[16]
On August 21, 2019, the company acquired the portion ofAmeriGas that it did not already own.[17]
On July 10, 2020, the company acquired GHI Energy LLC, aHouston-based renewable natural gas company.[18]
On January 5, 2020, the company acquiredMountaineer Gas Company of West Virginia for $540 million.[19]
