Profile: Spire Inc (SR.N)
18 Jan 2017
Spire Inc., formerly The Laclede Group, Inc., incorporated on October 18, 2000, is engaged to transform its business and pursue growth by growing its gas utility business through prudent investment in infrastructure upgrades and organic growth initiatives; acquire and integrate gas utilities; modernize its gas assets, and invest in innovation. The Company has two business segments, which include gas utility and gas marketing. The gas utility segment includes the regulated operations of Laclede Gas Company (Laclede Gas), Alabama Gas Corporation (Alagasco) and EnergySouth, Inc. (EnergySouth). The gas marketing segment includes Laclede Energy Resources, Inc. (LER), a subsidiary engaged in the marketing of natural gas and related activities on a non-regulated basis.
Laclede Gas is engaged in the purchase, retail distribution and sale of natural gas, serving residential, commercial and industrial customers, through Missouri Gas Energy (MGE), Kansas City and western Missouri. Alagasco is a public utility engaged in the purchase, retail distribution and sale of natural gas in central and northern Alabama, serving residential, commercial and industrial customers with primary offices located in Birmingham, Alabama. Mobile Gas Service Corporation (Mobile Gas) and Willmut Gas and Oil Company (Willmut Gas) are utilities engaged in the purchase, retail distribution and sale of natural gas to customers in southern Alabama and south central Mississippi. Mobile Gas and Willmut Gas are subsidiaries of EnergySouth.
Laclede Gas focuses its gas supply portfolio a number of natural gas suppliers with equity ownership or control of assets situated to complement its regionally diverse firm transportation arrangements. Laclede Gas utilizes both Mid-Continent and Gulf Coast gas sources to provide a level of supply diversity that facilitates the optimization of pricing differentials, as well as protecting against the potential of regional supply disruptions. For its eastern service area, Laclede Gas had a contractual right to store 21.6 billion cubic feet of gas, as of September 30, 2016, in Enable Mississippi River Transmission LLC (MRT)'s storage facility located in Unionville, Louisiana, and for its 16.3 billion cubic feet of gas storage in Southern Star system storage facilities located in Kansas and Oklahoma, as well as 1.4 billion cubic feet of firm storage on Panhandle Eastern Pipe Line Company, LP (PEPL)'s system storage.
Alagasco's distribution system is connected to two interstate natural gas pipeline systems, Southern Natural Gas Company, L.L.C. (Southern Natural Gas) and Transcontinental Gas Pipe Line Company, LLC (Transco). It is also connected to two intrastate natural gas pipeline systems. Alagasco purchases natural gas from various natural gas producers and marketers. The properties of Alagasco consist primarily of its gas distribution system, which includes main and service lines, odorization and regulation facilities, and customer meters. Alagasco also has approximately liquefied natural gas (LNG) facilities and several operation centers.
Laclede Energy Resources, Inc. (LER) is engaged in the marketing of natural gas and providing energy services to both on-system utility transportation customers and customers outside of the Missouri Utility's traditional service area. As of September 30, 2016, LER utilized approximately 30 interstate and intrastate pipelines, and over 125 suppliers to market natural gas to its customers primarily in the Midwest. Through its retail operations, LER offers natural gas marketing services to commercial and industrial customers, while its wholesale business consists of producers, pipelines, power generators, municipalities, storage operators, and utility companies. As of September 30, 2016, LER held approximately 0.4 billion cubic feet per day of firm transportation capacity. As of September 30, 2016, Gas Marketing has contracted for approximately 5.4 billion cubic feet per day of such storage and park and loan capacity.
700 Market St Fl 6
ST. LOUIS MO 63101-1829