UGI Utilities Signs First Agreement to Bring Significant Renewable Natural Gas Supplies into its System
February 17 2021 - 4:15PM
Business Wire
UGI Utilities, Inc. (“UGI Utilities”), a subsidiary of UGI
Corporation (NYSE: UGI), announced that the company has signed an
agreement with Archaea Energy, LLC (“Archaea”) of Canonsburg, PA to
accept delivery of renewable natural gas (“RNG") from the Keystone
Landfill located in Dunmore, PA into its distribution system. This
is the first RNG supply interconnect agreement UGI Utilities has
signed to-date.
The RNG supply will be injected into UGI Utilities’
high-pressure natural gas pipeline serving its distribution system
located in Lackawanna County, PA. The landfill gas, a byproduct of
naturally decomposing materials in the landfill, will be processed
and conditioned to meet UGI Utilities’ gas quality requirements.
The project is scheduled to become operational in September
2021.
When fully operational, the UGI Utilities system will be
designed to take up to 16,000 mcf (thousand cubic feet) per day of
RNG supply at a rate of up to 780 mcf per hour, making this the
largest RNG supply point in the United States to-date. This supply
point will be available for the company, as well as for natural gas
suppliers operating on its system, for the purpose of supplying UGI
Utilities customers.
Moving this RNG supply into the UGI Utilities distribution
system provides benefits to the company and to the many communities
it serves. In addition to securing a local source of gas for UGI
Utilities customers, accepting the delivery of RNG for customer use
reduces the release of naturally occurring methane from the
Keystone Landfill into the atmosphere. From an environmental
perspective, accepting delivery of the RNG will reduce CO2
emissions that would otherwise occur by up to approximately 314,000
metric tons per year. This CO2 reduction equates to removing the
emissions from more than 67,000 passenger vehicles over the course
of a calendar year.
“This agreement advances our strategy to position UGI Utilities
as a leading provider of energy solutions that meet the
environmental and social needs of our customers and our
communities,” said Robert F. Beard, Executive Vice President -
Natural Gas, UGI. “We look forward to expanding our portfolio of
renewable energy offerings available to our customers across our
service territories.”
Archaea CEO Nick Stork stated, “Archaea is proud to partner with
UGI Utilities to help bring renewable energy to eastern
Pennsylvania. UGI Utilities and Archaea share a common culture of
safety, reliability and commitment to decarbonization of energy
resources. Pennsylvania is our home, and we are thrilled to work
with another “hometown” company like UGI Utilities,” Stork
added.
“For over 135 years, UGI Utilities has focused on providing
safe, reliable service to its customers and to the many communities
it serves,” said Hans Bell, President of UGI Utilities. “Partnering
with Archaea to bring these RNG volumes into our distribution
system provides us with the opportunity to continue growing in an
environmentally responsible way, and enhances and expands our
commitment to offer energy solutions that are innovative, efficient
and beneficial to the environment.”
About UGI Utilities
UGI Utilities is a natural gas and electric utility with
headquarters in Denver, Pennsylvania. UGI serves more than 730,000
customers in 45 Pennsylvania counties and one county in Maryland.
Customers and community members are invited to visit the UGI
website at www.ugi.com; our Facebook page at
www.facebook.com/ugiutilities; or follow us on Twitter at
www.twitter.com/ugi_utilities.
About UGI Corporation
UGI Corporation is a distributor and marketer of energy products
and services. Through subsidiaries, UGI operates natural gas and
electric utilities in Pennsylvania, distributes LPG both
domestically (through AmeriGas) and internationally (through UGI
International), manages midstream energy assets in Pennsylvania,
Ohio and West Virginia and electric generation assets in
Pennsylvania, and engages in energy marketing, including renewable
natural gas, in twelve states and the District of Columbia and
internationally in France, Belgium, the Netherlands and the UK.
Comprehensive information about UGI Corporation is available on
the Internet at https://www.ugicorp.com.
About Archaea
Archaea Energy, LLC is a nationwide developer of renewable
energy resources, especially RNG projects. Its RNG projects curb
greenhouse gas pollution and create sustainable energy, local
investment, and green jobs, and improve local air quality. Its
principals are leaders in the field of renewable energy and its
partners include some of North America’s most environmentally
responsible, socially conscious, and forward-thinking institutions
– all of whom rely on Archaea RNG to decarbonize and meet their
internal and external renewable energy goals.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210217005938/en/
UGI Corporation Investor Relations Tameka Morris,
610-456-6297 Arnab Mukherjee, 610-768-7498 Shelly Oates, 610-992
-3202
UGI (NYSE:UGI)
Historical Stock Chart
From Aug 2024 to Sep 2024
UGI (NYSE:UGI)
Historical Stock Chart
From Sep 2023 to Sep 2024