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Keyspan Activity

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in THE MAIN WALL
As of Dec 13, 2002 (Friday the 13th) Keyspan has purchsed the only LNG facility in Rhode Island. This now gives them a hold in New York, Massachussetts and now Rhode Island. They have 2.5 million gas customers and 12,000 employees.

They are also running a pipeline from Connecticut to Long Island underwater it is a $140,000 million dollar project.

All of Rhode Island is owned by one company Southern. All of eastern Mass is owned by Keyspan.

We used to worry about utilities becoming monopolys, I guess it doesn't matter anymore. This is the result of de-regulation which was supposed to drive the price of gas down and create competition. That along with unbundling which opened the door for anyone who wanted to use pipelines to distribute gas. The problem is no one independent company could afford it so it went to the large companys like Duke Energy, Algonquin and others who are partnered up with local utilities.

The cost has certainly not gone down.

Keyspan stock selling at $35.60 up $.55 cents with the new deal.

If you are interested go to www.aga.org for the story.

Comments

  • Lee_3
    Lee_3 Member Posts: 17
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    They are in NH too

    Keyspan bought out Energy North a few years ago so they provide here in Souther NH. They are advertising the free boiler thing too.
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