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UGI
Corporation is a public utility holding company with a variety of assets based
in King of Prussia, Pennsylvania.
History
UGI was
incorporated in 1882 as United Gas Improvement Co. It encouraged the formation
of United Electric Company of New Jersey in 1899. Among the subsidiaries of
Public Service Corporation, United Electric Company served as a holding
company.
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.
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.
Type
Public
Traded
as
NYSE UGI
Industry Energy industry
Founded 1882
Headquarters King of Prussia Pennsylvania, United States
Area
served Pennsylvania
Key
people Lon Greenberg (Chairman
& CEO); John Walsh (President& COO) Kirk Oliver
Services Electricity, natural gas,
propane
Website http://www.ugicorp.com
