KeySpan
| Company type | Public |
|---|---|
| Industry | Natural gas distribution, Energy |
| Predecessor | Brooklyn Union Gas Company, Long Island Lighting Company (LILCO) |
| Founded | 1998 |
| Fate | Acquired by National Grid USA in 2007 |
| Headquarters | Brooklyn, New York , United States |
Area served | United States (including New York City, Long Island, New England) |
| Products | Natural gas distribution, residential HVAC services (via ServicEdge Partners) |
Number of employees | 9,700 |
| Parent | National Grid USA (since 2007) |
KeySpan Corporation ranked as the fifth largest distributor of natural gas across the United States. It was established in 1998 following the consolidation of Brooklyn Union Gas Company (originating in 1895) and Long Island Lighting Company (LILCO), initially operating under the name MarketSpan after the merger. On November 8, 2000, KeySpan expanded by acquiring Eastern Enterprises, which included natural gas subsidiaries such as Boston Gas Company, Colonial Gas Company, Essex Gas Company, and EnergyNorth Natural Gas based in New Hampshire. The acquisition also encompassed Eastern's non-regulated operations, including ServicEdge Partners, a prominent provider of residential HVAC services in Massachusetts. Furthermore, KeySpan managed the electrical grid for the Long Island Power Authority (LIPA), an asset formerly part of LILCO prior to LIPA's takeover in 1998. The company’s headquarters were located in Brooklyn, New York, with a workforce numbering about 9,700 employees.
In February 2006, National Grid USA—a subsidiary of the UK-based National Grid plc—announced an agreement to purchase KeySpan for $7.3 billion (£4.1 billion) in cash, subject to regulatory and shareholder consents. This transaction was finalized in 2007, thereby broadening National Grid’s footprint within the American energy sector.
Starting in 2004, KeySpan consistently achieved a perfect score on the Corporate Equality Index issued by the Human Rights Campaign, demonstrating its dedication to fostering equality in the workplace.
Brooklyn Union Gas
Originally established as the Brooklyn Gas Light Company in 1825, the Brooklyn Union Gas Company adopted its current name following mergers completed in 1895. The company experienced significant expansion during the early 1900s, culminating in the construction of a headquarters at 180 Remsen Street—an edifice designed by architect Frank Freeman and finished in 1914. A subsequent headquarters building comprising thirteen stories was erected at 195 Montague Street in 1962; this facility was later replaced around 1990 when operations moved to One MetroTech Center.
At its operational height, Brooklyn Union Gas employed approximately 3,651 personnel and reported revenues approaching $1 billion. Its service area included Brooklyn, Staten Island, and portions of Queens, supplying natural gas to vital markets within New York City.
See also
External links
- Articles with short description
- Energy infrastructure on Long Island, New York
- Energy in New England
- Companies established in 1998
- Companies based in New York City
- Electric power companies of the United States
- Natural gas companies of the United States
- Companies formerly listed on the New York Stock Exchange
- 2007 mergers and acquisitions