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.
In February 1968, the company changed its name to UGI Corporation.
Read more about this topic: UGI Corporation
Famous quotes containing the word history:
“The history of all previous societies has been the history of class struggles.”
—Karl Marx (1818–1883)
“Social history might be defined negatively as the history of a people with the politics left out.”
—G.M. (George Macaulay)
“... that there is no other way,
That the history of creation proceeds according to
Stringent laws, and that things
Do get done in this way, but never the things
We set out to accomplish and wanted so desperately
To see come into being.”
—John Ashbery (b. 1927)