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 persecution is a history of endeavors to cheat nature, to make water run up hill, to twist a rope of sand.”
—Ralph Waldo Emerson (1803–1882)
“Whenever we read the obscene stories, the voluptuous debaucheries, the cruel and torturous executions, the unrelenting vindictiveness, with which more than half the Bible is filled, it would be more consistent that we called it the word of a demon than the Word of God. It is a history of wickedness that has served to corrupt and brutalize mankind.”
—Thomas Paine (1737–1809)
“There is a constant in the average American imagination and taste, for which the past must be preserved and celebrated in full-scale authentic copy; a philosophy of immortality as duplication. It dominates the relation with the self, with the past, not infrequently with the present, always with History and, even, with the European tradition.”
—Umberto Eco (b. 1932)