UGI Energy Services Acquires South Jersey Energy’s Retail Natural Gas Business
READING, Pa. 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.
UGI Energy Services LLC Media Contact:
Pam Witmer, V.P. Governmental Affairs, 717-579-8735
Source: Business Wire