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4-Traders Homepage  >  Equities  >  Nyse  >  AGL Resources Inc.    GAS

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AGL Resources Inc. : Atlanta Gas Light signs contracts for two more CNG stations to be developed under the AGL CNG Program

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10/31/2013 | 04:21pm CEST
Atlanta Gas Light signs contracts for two more CNG stations to be developed under the AGL CNG Program

DeKalb County and Flint River Fueling Center (Oglethorpe, GA) to open publicly accessible CNG stations under Georgia PSC-approved program
(Photos available upon request)

ATLANTA, Oct. 24, 2013 - Atlanta Gas Light, a subsidiary of AGL Resources (NYSE:GAS), announced today that it has signed agreements to open two new compressed natural gas (CNG) fueling stations in Decatur, Ga, and Oglethorpe, Ga. Both public-access stations, which will be operated by DeKalb County and the Flint River Fuel Center, will be constructed by Atlanta Gas Light under a program approved by the state's Public Service Commission to utilize the company's Universal Service Fund to spur CNG vehicle and infrastructure investment in the state.

"The seven fueling stations now under construction demonstrate our commitment to economic development and our program's goal of ramping up CNG investments across the state," said Kevin McCrackin, vice president of utility marketing for AGL Resources. "The program has been pivotal in expanding public access to this clean, efficient and affordable fuel source."

Currently seven stations are in various stages of development under the program throughout Georgia, including the following:


Metro Atlanta
  • 1120 North Ave. (City of Atlanta)
  • 128 Claire Dr. (City of Atlanta)
  • 323 Cash Memorial Blvd., Forest Park (Premier Transportation)
  • 3720 Leroy Scott Dr., Decatur (DeKalb County)
    Oglethorpe
  • 2880 State Route 49, Oglethorpe (Flint River Fuel Center) Savannah
  • 401 O'Leary Rd. (Colonial Group, Inc., through its Enmark subsidiary)

    In August Atlanta Gas Light opened the first CNG fueling station under the AGL CNG Program in Valdosta, Ga. The station, located at 1628 James P. Rodgers Dr., is owned by Langdale Fuel Co., an affiliate of The Langdale Company..

    In November 2011, the Georgia Public Service Commission approved a plan submitted by Atlanta Gas Light to invest $11.57 million from the company's Universal Service Fund to install natural gas compression and storage equipment at newly proposed CNG fueling stations. With seven stations under contract and the construction phase under way, the program has successfully deployed the majority of the authorized funding. Atlanta Gas Light is still taking applications under the program on a first-come, first-served basis but cannot assure that funding will remain available for interested applicants.

    Atlanta Gas Light also has existing programs to work with fleet operators and potential station developers to build a variety of CNG station options. This includes development of CNG station projects under the company's V-52 tariff rate schedule. The V-52 rate provides for Atlanta Gas Light to install and maintain the CNG equipment for station developers in a similar fashion, but under a different rate structure.

    Atlanta Gas Light also has a lease program for homeowners and small business owners to install a home refueling appliance (HRA) to conveniently fuel CNG vehicles. Leases are available for $60 per month with a 5-year commitment.

    More information on the CNG Program can be found at www.atlantagaslight.com/cngplan.

    About Atlanta Gas Light

    Atlanta Gas Light, a wholly owned subsidiary of AGL Resources (NYSE: GAS), provides natural gas delivery service to more than 1.5 million customers in Georgia. In operation since 1856, the company is one of the oldest corporations in the state. For more information, visit www.atlantagaslight.com.

    About AGL Resources

    AGL Resources (NYSE: GAS) is an Atlanta-based energy services holding company with operations in natural gas distribution, retail operations, wholesale services, midstream operations and cargo shipping. AGL Resources serves approximately 4.5 million utility customers through its regulated distribution subsidiaries in seven states. The company also serves approximately 634,000 retail energy customers and approximately 1.23 million customer service contracts through its SouthStar Energy Services joint venture and Nicor National, which market natural gas and related home services. Other non-utility businesses include asset management for natural gas wholesale customers through Sequent Energy Management, ownership and operation of natural gas storage facilities, and ownership of Tropical Shipping, one of the largest containerized cargo carriers serving the Bahamas and Caribbean region. AGL Resources is a member of the S&P 500 Index.

    # # #

    Media Contact
    Kristie Swink Benson
    Office: 404-584-3167
    kbenson@aglresources.com


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Financials ($)
Sales 2016 -
EBIT 2016 771 M
Net income 2016 353 M
Debt 2016 -
Yield 2016 3,21%
P/E ratio 2016 22,52
P/E ratio 2017 21,21
Capi. / Sales 2016 0
Capi. / Sales 2017 0
Capitalization 7 961 M
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NameTitle
Andrew W. Evans Chairman, President & Chief Executive Officer
Elizabeth W. Reese Chief Financial Officer & Executive Vice President
Daniel Lambright Vice President-Information Technology
Donald F. Carter Vice President-Compliance & Technical Services
Thomas D. Bell Independent Director
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