UGI Corporation (NYSE: UGI) was founded in 1882 and is headquartered in King of Prussia, Pennsylvania, USA, with 13,320 full-time employees. It is a diversified company that distributes, stores, transports and sells energy products and related services in the United States and internationally.
UGI Corporation (UGI):
UGI=United Gas Improvement, UGI Corporation is a holding company and a diversified energy and utility company:
- Mainly through subsidiaries for distribution, storage, transportation and sales of energy products and related services;
- UGI Corporation is a domestic and international retail distributor of propane and butane (liquefied petroleum gas);
- At the same time, UGI is also a natural gas and electricity service provider;
- UGI Corporation also provides power generation services;
- Also a regional marketer of energy products;
- Owners and managers of midstream oil and gas assets (oil and gas pipelines);
- And a regional supplier of HVAC (heating, ventilation, air conditioning, refrigeration) and electrical contracting services.
UGI Corporation products and services include:
- UGI Corporation distributes propane to approximately 1.9 million residential, commercial/industrial, automotive fuel, agricultural, and wholesale customers in 50 states through 1,900 propane distribution stations; and sells, installs, and services propane equipment, including heating systems.
- UGI Corporation also distributes liquefied petroleum gas to residential, commercial, industrial, agricultural, resale and automotive fuel customers for heating, cooking, gasoline, leisure, construction, manufacturing, crop and grain drying, power generation and irrigation activities; and Third-party LPG distributors provide logistics, warehousing and other services.
- In addition, UGI also provides retail natural gas, liquid fuel and electricity services to 160,000 residential, commercial and industrial users in approximately 44,000 locations.
- Furthermore, UGI provides natural gas distribution to approximately 626,000 customers through its 12,000 miles of gas pipeline power distribution system in 44 eastern and central parts of Pennsylvania; and through 2,200 miles of lines and 13 substations Approximately 62,000 customers in northeastern Pennsylvania provide power services.
- In addition, UGI Corporation also operates power generation facilities, including coal burning, landfill gas, solar and natural gas fuel facilities; operating natural gas liquefaction, storage and evaporation facilities; operating propane storage and propane-air mixing stations, and operating railway transit terminals.
- UGI also manages natural gas pipeline and storage contracts; develops, owns and operates pipelines, collection infrastructure and gas storage facilities; and provides heating, ventilation, air conditioning, refrigeration, mechanical and electrical contracting services.
UGI Corporation (UGI) History:
- In 1882, UGI Corporation was incorporated under the name of United Gas Improvement Co.
- In 1899, United Gas Improvement founded the United Electric Company in New Jersey. United Electric consolidated several electric and lighting power companies into one holding company.
- In 1903, United Gas Improvement Co. held a majority stake in Equitable Illuminating Gas Light Company.
- In 1907, New Jersey Public Service Corporation acquired United Electric from UGI, and United Electric was eventually merged into Public Service Electric & Gas.
- In February 1968, United Gas Improvement Co. changed its name to UGI Corporation.
- On April 1, 2013, John Walsh took over as President and CEO of Lon Greenberg.
- On January 28, 2016, Lon Greenberg retired and Marvin Schlanger served as a non-executive director of the board of directors. He served as chairman of the board of directors during Greenberg’s executive chairmanship and later as non-executive chairman.