RGC Resources
RGC Resources is a company headquartered in Roanoke, Virginia. It is a holding company that distributes and sells natural gas to customers in Virginia through its subsidiaries, Roanoke Gas. Roanoke Gas is the largest and most well-known subsidiary, which provides natural gas distribution to about 59,000 customers in the Roanoke metropolitan area and some other nearby areas such as eastern Montgomery County and western Bedford County. "RGC" comes from the initials for Roanoke Gas Company.
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| Public | |
| Traded as | NASDAQ: RGCO Russell 2000 Component |
| Industry | Energy |
| Founded | Roanoke, Virginia (1912) |
| Headquarters | Roanoke, Virginia, United States |
Key people | John S. D'Orazio (CEO, Director, President) |
| Products | Natural Gas Distribution |
| Revenue | $122 million fiscal year ending September 30, 2005 |
Number of employees | 137 |
| Website | http://www.rgcresources.com/ |
In 1994, the Highland Gas Marketing division was established to broker natural gas to several industrial transportation customers of Roanoke Gas.
History
Roanoke Gas Company was organized in 1883, one year after Roanoke became a city. Initially, the gas was primarily used for street lights and to light businesses such as the Hotel Roanoke. Gas was manufactured from coal with coke as a byproduct. In 1889, the Roanoke Gas Company and the Roanoke Water Works sold their assets to the Roanoke Gas and Water Company. On May 15, 1912, the Roanoke Gas Light Company was formed when the gas and water companies were separated again. The number of gas customers expanded rapidly with Roanoke's growth in the 1910s and 1920s. In 1939, the name of the gas company was changed from Roanoke Gas Light Company to Roanoke Gas Company. Natural gas via pipeline first came to Roanoke homes and businesses on August 26, 1950. In 1993, the city of Roanoke considered exercising an option under the franchise agreement with Roanoke Gas to assume ownership of the natural gas distribution lines through the city with the company only providing gas for the system. The company objected to this proposal and successfully organized public opposition which persuaded the city not to proceed. On July 1, 1998, Roanoke Gas and its subsidiaries were reorganized into the RGC Resources holding company.