Tuesday, August 29, 2006

PG Energy Becomes UGI

The Times Leader:
The approximately $580 million deal between UGI and Southern Union Co., the Houston, Texas, parent company of PG Energy, closed Thursday. The sale expands UGI’s reach into 13 counties in northeastern and central Pennsylvania and adds approximately 158,000 customers. Prior to the acquisition UGI had 307,000 customers in the southeastern and south central parts of the state. Its electric utilities operation serves nearly 62,000 customers in Northeastern Pennsylvania.

UGI Penn Natural Gas is a separate subsidiary of Reading–based UGI Utilities, itself a subsidiary of UGI Corp. in Valley Forge.