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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.

Updated February 27, 2006

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