UGI Subsidiary Sells Conemaugh Facility Ownership Stake to Montour, LLC

Rhea-AI Summary

UGI Corporation announced the sale of its 6% stake in the Conemaugh coal-fired power generation station to Montour, LLC. This divestment, which comprises 102 MW, is aimed at reducing UGI's CO2 equivalent emissions by over 30%. The move aligns with UGI's commitment to enhancing its Midstream and Utilities businesses and advancing its Environmental, Social, and Governance (ESG) initiatives. Executive Vice President Robert F. Beard emphasized the company’s goal of significantly lessening its operational environmental impact while providing affordable renewable energy solutions.

Positive

• Sale of non-core asset reduces CO2 equivalent emissions by over 30%.
• Aligns with UGI's focus on ESG initiatives and growth in Midstream and Utilities.

Negative

• None.

VALLEY FORGE, Pa.--(BUSINESS WIRE)--UGI Corporation (NYSE: UGI) announced today that a subsidiary, UGI Energy Services, LLC, sold its ownership stake in the Conemaugh coal-fired power generation station to Montour, LLC.

UGI held an ownership share of approximately 6%, or 102 MW of the Conemaugh facility, located near Johnstown in Western Pennsylvania. The sale of this non-core asset will reduce UGI's direct CO2 equivalent emissions by more than 30% and is consistent with our focus on growing our Midstream and Utilities businesses, as we intensify our Environmental, Social, and Governance (“ESG”) efforts.

“The sale of our ownership stake in the Conemaugh facility is another step toward achievement of our Company’s ambitious greenhouse gas emission reduction target, part of our ESG initiative,” said Robert F. Beard, Executive Vice President – Natural Gas, for UGI Corporation. “We're committed to substantially reducing the impact of our operations on our environment, contributing significantly to the health and well-being of the communities we serve, and providing our customers with renewable, affordable energy solutions,” Mr. Beard stated.

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 in eleven states, 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.