KeySpan
Headquarters:
175 East Old Country Road
Hicksville, NY 11801
Employees: 10,000
CEO: Robert Catell
Website: http://www.keyspanenergy.com
Stock Symbol:
KSE
Career Page
KeySpan is the fifth-largest distributor
of natural gas in the United States and largest in the Northeast.
The company distributes natural gas to 2.6 million customers
in New York City, Long Island and New England. It operates regulated
natural gas utilities in New York, Massachusetts and New Hampshire
which do business as KeySpan Energy Delivery.
KeySpan Energy Delivery provides natural
gas service in the NYC boroughs of Brooklyn, Queens and Staten
Island, in Nassau and Suffolk counties on Long Island and in
Massachusetts and New Hampshire.
KeySpan owns and operates generating plants
on Long Island and New York City with total capacity of more
than 6,600 megawatts. It serves approximately 1.1 million electric
customers through a management service agreement with the Long
Island Power Authority. KeySpan owns and operates the five Long
Island power plants that generate power for LIPA's system. A
sixth power plant, located in Queens, services the New York City
area. The company supplies 25% of New York City's capacity needs.
In addition to these assets, KeySpan has
strategic investments in production, pipeline transportation,
distribution and storage.
KeySpan has headquarters in Brooklyn, Boston
and Long Island.
National Grid announced in February it
would acquire KeySpan Energy for $7.3 billion in cash.
Upon completion of the merger, KeySpan
will become a wholly owned subsidiary of National Grid and will
continue to operate as KeySpan. National Grid will continue to
have customer-focused operations throughout its four-state service
territory (Massachusetts, New Hampshire, New York and Rhode Island)
and will maintain a significant corporate presence in Massachusetts,
Brooklyn, NY and Upstate New York, as well as an operations center
in Hicksville, NY.
National Grid will honor all labor agreements
in effect with the KeySpan unions. Plans on combining operations,
facilities and functions, including determination of the impact
on total number of jobs, will be developed over the next year.
Employee reductions are expected to be achieved through attrition
and voluntary programs across the combined company.
History
KeySpan Corporation was formed in May 1998
as a result of the merger of KeySpan Energy Corporation, the
parent company of Brooklyn Union Gas, and certain businesses
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.
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