UGI Energy Services LLC (UGIES), a subsidiary of UGI Corporation (NYSE:
UGI), announces the purchase of South Jersey Energy Company’s (SJE)
retail natural gas business including Open Flow Energy, effective
December 1, 2018.
The purchase includes all of SJE’s 2,500 commercial and industrial
customer contracts, which includes supply service to approximately 6,000
locations. This acquisition continues the strategic buildout of UGIES’
growing retail natural gas business.
UGIES is committed to a seamless transition for the newly acquired
customers that are located primarily in Pennsylvania and New Jersey. “We
are excited to welcome the SJE customers to the UGIES family of
businesses,” said Joseph Hartz, president of UGIES. “This acquisition
allows us to build upon our already strong commercial and industrial
retail business in the mid-Atlantic region,” Hartz continued.
“UGI views the acquisition of South Jersey Energy’s retail natural gas
business as part of our strategy to grow through transactions that
complement our core business and bring value to consumers and the
company,” said John Walsh, president and CEO of UGI Corporation.
About UGI Energy Services LLC
UGI Energy Services LLC markets natural gas, electricity and liquid
fuels to commercial, institutional and industrial customers at
approximately 43,000 locations in 10 eastern states and Washington, D.C.
UGI Energy Services owns and operates natural gas midstream assets such
as liquefied natural gas storage and vaporization, underground storage
fields, gathering, intra and interstate pipeline systems and compressor
stations. These assets support the retail business as well as our
electric generation assets, and peaking plants. To learn more about UGI
Energy Services, visit: http://www.ugies.com.
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Copyright Business Wire 2018
Source: Business Wire
(December 3, 2018 - 8:30 AM EST)
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