Company Overview of South Jersey Gas Company
South Jersey Gas Company, a public utility company, engages in the purchase, transmission, and sale of natural gas for residential, commercial, and industrial use. It also sells natural gas and pipeline transportation capacity on a wholesale basis to various customers on the interstate pipeline system, as well as transports natural gas purchased directly from producers or suppliers to their customers. As of December 31, 2014, the company served 366,854 residential, commercial, and industrial customers in southern New Jersey. It had approximately 122.7 miles of mains in the transmission systems and approximately 6,339 miles of mains in the distribution systems. The company is headquartered in...
1 South Jersey Plaza
Folsom, NJ 08037
Key Executives for South Jersey Gas Company
Principal Executive Officer, President, Chief Operating Officer and Director
Chief Financial Officer, Senior Vice President and Treasurer
Senior Vice President of Customer and Distribution Operations
Vice President of Rates & Regulatory Affairs
Compensation as of Fiscal Year 2015.
South Jersey Gas Company Key Developments
South Jersey Gas Announces Earnings Results for the Third Quarter and Nine Months Ended September 30, 2015
Nov 5 15
South Jersey Gas announced earnings results for the third quarter and nine months ended September 30, 2015. For the quarter, the company reported that utility net income reflected a loss of $3.4 million as compared with a net income contribution of $1 million in the third quarter 2014.
For the nine months, the company reported that net income was up 4.6% at $44.4 million as compared with $42.4 million through September 30, 2014.
South Jersey Gas Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2015
Aug 7 15
South Jersey Gas reported earnings results for the second quarter and six months ended June 30, 2015. For the quarter, net income of the company was $5.2 million, a significant increase over the second quarter 2014 contribution of $3.8 million.
Net income for the first half of 2015 was up 15% at $47.8 million as compared with $41.5 million for the first half of 2014.
South Jersey Gas Company Enters into Unsecured $200 Million Term Loan Credit Agreement
Jun 5 14
On June 5, 2014, South Jersey Gas Company entered into an unsecured $200 million term loan credit agreement, which is syndicated among five banks, including PNC Bank, National Association, as administrative agent, and Wells Fargo National Bank, National Association, as syndication agent. Under the Credit Agreement, the company can borrow up to an aggregate of $200 million from time to time until June 5, 2016. All loans under the Credit Agreement become due and payable on the third anniversary of the Credit Agreement, June 5, 2017. Any amounts repaid prior to the maturity date cannot be reborrowed.
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