KeySpan
From Wikipedia, the free encyclopedia
KeySpan Corporation is the fifth largest distributor of natural gas in the United States and the largest in the Northeast region of the country. It operates regulated gas utilities in New York, Massachusetts, and New Hampshire serving 2.6 million customers. Additionally KeySpan oversees additional service companies that offer energy-related products, services, and solutions to homes and businesses.
KeySpan generates the largest amount of electricity in New York State, with approximately 6,600 megawatts of generating capacity KeySpan provides 1.1 million customers of the Long Island Power Authority (LIPA) on Long Island and operates LIPA's transmission and distribution system under contract. It also supplies approximately 25 percent of New York City's capacity needs.
KeySpan has strategic investments in pipeline transportation, distribution, storage, and production. KeySpan has headquarters in Brooklyn, New England, and Long Island.
KeySpan Corporation was formed in May of 1998 as a result of the merger of KeySpan Energy Corporation, the parent company of Brooklyn Union Gas, and parts of the Long Island Lighting Company. On November 8, 2000, KeySpan acquired Eastern Enterprises, a Massachusetts business trust, and the parent of several gas utilities operating in Massachusetts and New Hampshire.
In February of 2006, National Grid plc of the United Kingdom announced that it had agreed to buy KeySpan for $7.3bn (£4.1bn) in cash. The deal is subject to regulatory approval and endorsement by the shareholders of the two companies. [1]
KeySpan received a 100% rating on the Corporate Equality Index released by the Human Rights Campaign starting in 2004, the third year of the report.
