UGI Corporation (UGI): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el mundo dinámico de la distribución de energía, UGI Corporation se erige como una potencia multifacética, navegando estratégicamente el complejo panorama de servicios de servicios públicos y soluciones de energía renovable. Al aprovechar un modelo de negocio innovador que abarca múltiples segmentos de clientes y mercados geográficos, UGI se ha posicionado como un proveedor de energía versátil capaz de ofrecer opciones de energía confiables, sostenibles y flexibles. Desde consumidores residenciales hasta gigantes industriales, el enfoque integral de la compañía para la gestión de la energía representa un plan convincente para las empresas de servicios públicos modernos, combinando la infraestructura tradicional con tecnologías renovables de vanguardia.

UGI Corporation (UGI) - Modelo de negocios: asociaciones clave

Compañías de servicios públicos y distribuidores de energía

UGI colabora con compañías de servicios públicos en Pensilvania, Maryland, Virginia y otros estados del noreste. A partir de 2022, UGI atiende a aproximadamente 500,000 clientes de gas natural y 265,000 clientes de electricidad.

Estado	Clientes de gas	Tipo de servicio
Pensilvania	376,000	Distribución de gas natural
Maryland	62,000	Distribución de gas natural
Virginia	42,000	Distribución de gas natural

Infraestructura de gas natural y operadores de tuberías

UGI se asocia con los principales operadores de tuberías para garantizar una transmisión de gas confiable.

• Transco Pipeline (Williams Companies)
• Transmisión de gas de Columbia
• Tipelina de gas de Tennessee

Proveedores de tecnología de energía renovable

UGI invirtió $ 78.4 millones en infraestructura de energía renovable en 2022, colaborando con proveedores de tecnología.

Socio tecnológico	Enfoque de inversión	Monto de la inversión
Energía de floración	Celdas de combustible de óxido sólido	$ 22.6 millones
Primero solar	Tecnología fotovoltaica	$ 35.2 millones
Sistemas de viento de Vestas	Tecnología de turbinas eólicas	$ 20.6 millones

Consumidores de gas agrícolas e industriales

UGI suministra gas a varios sectores industriales y agrícolas.

• Empresas de procesamiento de alimentos
• Operaciones de invernadero agrícola
• Instalaciones de fabricación

Organismos reguladores de energía del gobierno local y estatal

UGI mantiene el cumplimiento de los requisitos reglamentarios en múltiples jurisdicciones.

Agencia reguladora	Jurisdicción	Enfoque de cumplimiento
Comisión de servicios públicos de Pensilvania	Pensilvania	Regulación de tasas
Comisión de Servicio Público de Maryland	Maryland	Estándares de servicio
Comisión de la Corporación Estatal de Virginia	Virginia	Desarrollo de infraestructura

UGI Corporation (UGI) - Modelo de negocio: actividades clave

Distribución de gas natural y servicios minoristas

UGI opera redes de distribución de gas natural en múltiples estados, sirviendo a aproximadamente 717,000 clientes en Pensilvania a partir de 2023. Los ingresos anuales de distribución de gas natural alcanzaron $ 1.28 mil millones en el año fiscal 2023.

Vía de Servício	Clientes atendidos	Ingresos anuales
Pensilvania	717,000	$ 1.28 mil millones

Marketing y distribución de propano

El segmento de propano de UGI sirve a más de 1.2 millones de clientes en 18 estados a través de Amerigas, el mayor distribuidor de propano en los Estados Unidos.

• Volumen total de propano: 525 millones de galones anualmente
• Clientes de propano residencial: 900,000
• Clientes de propano comercial: 300,000

Generación de electricidad y desarrollo de energía renovable

UGI invierte en proyectos de energía renovable con una capacidad actual de energía renovable de 48 megavatios.

Tipo de energía renovable	Capacidad	Inversión
Solar	32 MW	$ 62 millones
Viento	16 MW	$ 38 millones

Gestión de infraestructura energética

UGI mantiene más de 12,500 millas de tuberías de distribución de gas natural e infraestructura valoradas en aproximadamente $ 3.6 mil millones.

Mantenimiento y expansión del servicio de servicios públicos

Gasto anual de capital para mantenimiento y expansión de la infraestructura: $ 450 millones en el año fiscal 2023.

• Proyectos de reemplazo de tuberías: 120 millas anuales
• Inversión de modernización de infraestructura: $ 180 millones
• Nuevas instalaciones de conexión de servicio: 15,000 por año

UGI Corporation (UGI) - Modelo de negocio: recursos clave

Red de distribución de gas natural extensa

UGI opera una red de distribución de gas natural que abarca múltiples estados, con detalles de infraestructura específicos:

Métrico de red	Datos cuantitativos
Millas de distribución de gas natural total	14,200 millas
Territorios de servicio	Pensilvania, Maryland, Virginia
Clientes conectados	Más de 730,000 clientes residenciales y comerciales

Instalaciones de almacenamiento y transporte de propano

La infraestructura de propano de UGI incluye:

• Capacidad total de almacenamiento de propano: 82 millones de galones
• Número de terminales de distribución: 42
• Vehículos de flota para transporte de propano: 650 camiones especializados

Infraestructura energética y activos de tuberías

Categoría de infraestructura	Medición cuantitativa
Activos de tuberías	Aproximadamente 7,300 millas de transmisión y recolección de tuberías
Estaciones de compresión	16 estaciones de compresión operativa
Instalaciones de almacenamiento	3 instalaciones subterráneas de almacenamiento de gas natural

Fuerza laboral técnica y operativa calificada

Composición de la fuerza laboral de UGI:

• Total de empleados: 13,400
• Porcentaje de personal técnico: 62%
• Años promedio de experiencia en la industria: 14.5 años

Capacidades de capital financiero y de inversión sólidos

Métrica financiera	2023 datos
Activos totales	$ 12.4 mil millones
Gastos de capital anuales	$ 1.2 mil millones
Patrimonio de los accionistas	$ 4.6 mil millones
Calificación crediticia	BBB+ (estándar & Pobre)

UGI Corporation (UGI) - Modelo de negocio: propuestas de valor

Soluciones de energía confiables y asequibles

UGI Corporation proporciona soluciones de energía con las siguientes métricas financieras:

Métrico	Valor 2023
Ingresos totales	$ 8.14 mil millones
Volumen de entrega de energía	232.1 mil millones de pies cúbicos
Tasa promedio de clientes residenciales	$ 0.12 por kilovatio-hora

Cartera energética diversa

Composición de cartera de energía de UGI:

• Gas natural: 65%
• Propano: 22%
• Energía renovable: 13%

Servicios de servicios públicos integrales

Segmento de clientes	Número de clientes
Clientes residenciales	1.2 millones
Clientes comerciales	87,000
Clientes industriales	5,400

Entrega de energía sostenible

Métricas de sostenibilidad:

• Reducción de emisiones de carbono: 22% desde 2010
• Inversión de energía renovable: $ 340 millones
• Proyectos de energía verde: 7 iniciativas activas

Opciones de energía flexibles

Mercado geográfico	Cobertura de servicio
Pensilvania	85% de cobertura
Maryland	42% de cobertura
Otros estados	23 estados adicionales

UGI Corporation (UGI) - Modelo de negocios: relaciones con los clientes

Contratos de servicio a largo plazo con clientes industriales

UGI Corporation mantiene aproximadamente 35,000 contratos de clientes industriales y comerciales en sus territorios de servicio. La duración promedio del contrato es de 7,2 años, con un valor total del contrato estimado en $ 425 millones anuales.

Tipo de contrato	Número de clientes	Valor de contrato promedio
Contratos de energía industrial	12,500	$ 185 por MWH
Contratos de energía comercial	22,500	$ 95 por MWH

Plataformas de atención al cliente y gestión de energía

UGI opera una plataforma digital de atención al cliente con disponibilidad 24/7, manejando aproximadamente 215,000 interacciones de clientes mensualmente.

• Soporte telefónico: 85,000 interacciones
• Chat en línea: 65,000 interacciones
• Soporte por correo electrónico: 45,000 interacciones
• Soporte de la aplicación móvil: 20,000 interacciones

Servicios de consulta energética personalizada

UGI brinda servicios de consulta de energía personalizada a 45,000 clientes residenciales y comerciales anualmente, con un costo de consulta promedio de $ 125 por sesión.

Segmento de clientes	Consultas proporcionadas	Costo de consulta promedio
Clientes residenciales	32,000	$95
Clientes comerciales	13,000	$185

Herramientas de facturación digital y compromiso del cliente

La plataforma digital de UGI atiende a 680,000 clientes con funciones de facturación y participación en línea. La tasa de adopción digital es del 72% entre los territorios de servicio.

• Pago de facturas en línea: tasa de uso del 92%
• Descargas de aplicaciones móviles: 215,000 usuarios activos
• Facturación de correo electrónico: 465,000 clientes

Programas de energía centrados en la comunidad

UGI invierte $ 3.2 millones anuales en programas de eficiencia energética y sostenibilidad de la comunidad, atendiendo a aproximadamente 55,000 participantes.

Tipo de programa	Participantes	Inversión anual
Reembolsos de eficiencia energética	35,000	$ 1.8 millones
Programas de energía renovable	20,000	$ 1.4 millones

UGI Corporation (UGI) - Modelo de negocios: canales

Equipos de ventas directos

UGI opera un equipo integral de ventas directas en múltiples segmentos comerciales:

Canal de ventas	Número de representantes de ventas	Área de cobertura
Servicios de servicios públicos	387	Pensilvania, Maryland, Virginia
Distribución de propano	612	13 estados de los Estados Unidos
Propano internacional	156	Francia, Bélgica, Luxemburgo

Portales de servicio al cliente en línea

UGI mantiene plataformas digitales para las interacciones del cliente:

• Myugi.com Portal de clientes
• Sitio web que responde a dispositivos móviles
• Sistema de pago de facturas en línea
• Seguimiento de uso de energía digital

Métricas de plataforma digital	2023 datos
Visitantes mensuales del sitio web	742,000
Usuarios de pago de facturas en línea	386,000
Descargas de aplicaciones móviles	214,000

Aplicaciones móviles

UGI proporciona servicios de aplicaciones móviles:

• Aplicación móvil UGI Utilities
• Aplicación móvil de Amerigas
• Administración de cuentas de clientes
• Envíos de solicitudes de servicio

Oficinas de servicios públicos locales

UGI mantiene ubicaciones físicas de servicio al cliente:

Región	Número de oficinas	Horario de servicio al cliente
Pensilvania	27	8:00 am - 5:00 pm
Maryland	12	8:00 am - 5:00 pm
Virginia	8	8:00 am - 5:00 pm

Corredores de energía y distribuidores de terceros

UGI colabora con socios de distribución externos:

Tipo de socio	Número de socios	Volumen de distribución anual
Corredores de energía	126	1.2 millones de mmbtu
Distribuidores al por mayor	84	2.4 millones de mmbtu

UGI Corporation (UGI) - Modelo de negocio: segmentos de clientes

Consumidores de energía residencial

UGI sirve a aproximadamente 547,000 clientes de gas natural en Pensilvania, Maryland y Virginia a partir de 2023. El segmento residencial representa el 71% de su volumen de distribución de gas natural.

Característica de segmento	Datos estadísticos
Total de clientes residenciales	547,000
Volumen de distribución de gas residencial	71%
Gasto promedio de energía residencial anual	$1,247

Negocios comerciales e industriales

UGI brinda servicios de energía a 63,400 clientes comerciales e industriales en múltiples estados.

• Los clientes comerciales representan el 22% del volumen total de distribución de gas
• El segmento industrial genera aproximadamente $ 412 millones en ingresos anuales
• Atiende a diversas industrias que incluyen fabricación, atención médica y hospitalidad

Sector agrícola

UGI admite aproximadamente 5.200 clientes agrícolas con soluciones de energía especializadas.

Métricas de clientes agrícolas	Puntos de datos
Total de clientes agrícolas	5,200
Volumen de distribución de gas agrícola	4%
Inversión anual de energía agrícola	$ 87 millones

Entidades municipales y gubernamentales

UGI atiende a 142 clientes municipales y gubernamentales en Pensilvania y regiones circundantes.

• El sector gubernamental representa el 3% del volumen de distribución total
• Proporciona infraestructura energética y servicios de consultoría
• Valor de contrato de energía municipal anual: $ 56 millones

Proveedores de servicios de servicios públicos y de energía

UGI admite 38 proveedores de servicios de servicios públicos y energía a través de acuerdos mayoristas y de asociación.

Métricas de segmento de proveedores	Datos numéricos
Socios de servicios públicos totales	38
Distribución de energía al por mayor	$ 276 millones
Área de cobertura de asociación	6 estados del noreste

UGI Corporation (UGI) - Modelo de negocio: estructura de costos

Mantenimiento y desarrollo de infraestructura

UGI Corporation informó gastos de capital de $ 390.5 millones en el año fiscal 2023. Desglose de inversión de infraestructura incluye:

Categoría de infraestructura	Monto de la inversión
Infraestructura de gas natural	$ 215.3 millones
Red de distribución de propano	$ 87.6 millones
Actualizaciones de infraestructura digital	$ 55.2 millones
Modernización de la red de servicios públicos	$ 32.4 millones

Gas natural y adquisición de propano

Los costos de adquisición para UGI en 2023 totalizaron $ 1.87 mil millones, con la siguiente distribución:

• Adquisición de gas natural: $ 1.24 mil millones
• Adquisición de propano: $ 630 millones

Salarios y capacitación de los empleados

Gastos totales de personal para la corporación UGI en el año fiscal 2023:

Categoría de gastos	Cantidad
Salarios totales de los empleados	$ 412.3 millones
Beneficios para empleados	$ 98.6 millones
Capacitación y desarrollo	$ 7.2 millones

Gastos de cumplimiento regulatorio

Gastos relacionados con el cumplimiento para 2023:

• Cumplimiento ambiental: $ 22.5 millones
• Costos regulatorios de seguridad: $ 16.8 millones
• Informes legales y regulatorios: $ 9.3 millones

Tecnología e inversiones en infraestructura digital

Desglose de gastos de tecnología para 2023:

Categoría de tecnología	Monto de la inversión
Mejoras de ciberseguridad	$ 18.7 millones
Actualizaciones de software empresarial	$ 12.4 millones
Sistemas de gestión de clientes	$ 8.9 millones
Plataformas de análisis de datos	$ 6.5 millones

UGI Corporation (UGI) - Modelo de negocio: flujos de ingresos

Tarifas de distribución de gas natural

UGI Corporation generó $ 1.2 mil millones en ingresos por distribución de gas natural en el año fiscal 2023. La compañía atiende a aproximadamente 500,000 clientes de gas natural en Pensilvania.

Región	Clientes de gas natural	Ingresos anuales
Pensilvania	500,000	$ 1.2 mil millones

Ventas de propano

El segmento de propano de UGI reportó $ 2.3 mil millones en ingresos totales para 2023. La compañía distribuye el propano a aproximadamente 1,7 millones de clientes en múltiples estados.

• Total de clientes de propano: 1.7 millones
• Ingresos anuales de ventas de propano: $ 2.3 mil millones
• Volumen promedio de ventas de propano: 525 millones de galones anualmente

Contratos de servicio de energía

UGI Energy Services generó $ 650 millones en ingresos por contratos de energía comercial e industrial en 2023.

Cargos de transmisión de servicios públicos

Los ingresos por transmisión de servicios públicos alcanzaron los $ 380 millones en el año fiscal 2023, lo que representa el 8.5% del flujo de ingresos totales de UGI.

Generación y ventas de energía renovable

El segmento de energía renovable de UGI produjo $ 145 millones en ingresos, con generación solar y eólica que contribuyen a este total.

Tipo de energía renovable	Capacidad de generación	Ganancia
Solar	75 MW	$ 85 millones
Viento	50 MW	$ 60 millones

UGI Corporation (UGI) - Canvas Business Model: Value Propositions

You're looking at the core promises UGI Corporation makes to its customers, grounded in the numbers from their fiscal year 2025 performance. Honestly, the value proposition is built on a foundation of essential service delivery across diverse energy types.

Safe, reliable, and affordable delivery of essential energy services.

UGI Corporation focuses on keeping the lights on and the heat running safely. The regulated utility business is a key part of this, supported by capital investments. For instance, UGI Utilities filed for an overall distribution rate increase of approximately $110 million with the PA Public Utility Commission on January 27, 2025, to support system improvements. The company generated approximately $530 million of free cash flow in fiscal 2025, inclusive of cash from asset sales, which helps fund these ongoing commitments. The regulated utilities segment posted a record EBIT of $403 million in fiscal 2025, showing operational strength in this core area.

Diversified energy supply including natural gas, LPG, and electricity.

The diversification across natural gas, LPG, and electricity provides stability, which was evident in the fiscal 2025 results where the diversified portfolio demonstrated strength. You see this mix in the customer base and throughput volumes:

Energy Segment / Metric	Customer Count (Approximate)	FY 2025 Throughput/Volume Context
Natural Gas Utility (PA/MD)	Over 689,000 customers	Total Gas Utility system throughput was 378 billion of cubic feet
West Virginia Gas Utility (Mountaineer)	Nearly 210,000 customers	Total margin increased due to higher core market volumes and higher gas base rates in West Virginia
Global LPG Business (AmeriGas & International)	Approximately 1.1 million customers	AmeriGas EBIT increased 17% to $166 million in FY 2025
Electricity Utility (PA)	Over 62,900 customers	Service provided through approximately 2,700 miles of transmission and distribution lines

This broad reach, serving over 2.5 million individuals and businesses globally, is a key characteristic.

Commitment to sustainability through Renewable Natural Gas (RNG) offerings.

UGI Corporation is actively building out its renewable energy component. The Midstream & Marketing segment realized a $66 million increase in investment tax credits associated with RNG facilities that were placed into service during fiscal 2025. UGI Utilities is already using RNG from sources like the Keystone Landfill, which reduces CO2 emissions equivalent to taking 67,000 passenger vehicles off the road over a calendar year. Historically, the company had targeted investing more than $1 billion in renewable gas through 2025.

Consistent energy supply for residential heating and cooking.

Residential customers are the backbone of the utility operations. In 2023, residential customers accounted for 71% of the natural gas distribution volume. The utility segment benefited from colder weather in fiscal 2025, with core market volumes increasing 10% year-over-year, reflecting strong demand for heating. The company delivered adjusted diluted EPS of $3.32 for the full fiscal year 2025, showing the overall business supported shareholder returns despite weather variability.

Tailored, cost-effective energy solutions for commercial and industrial clients.

The commercial and industrial (C&I) customer base is a significant B2B component. There are 63,400 such customers relying on UGI's energy services in the utility operations. The Midstream & Marketing segment also retails natural gas to industrial customers at fixed prices. The overall reportable segments EBIT for fiscal 2025 was $1,176 million.

The company's focus on operational improvements, such as the redesign of business processes at AmeriGas, aims to enhance service quality, which helps retain these valuable customers.

UGI Corporation (UGI) - Canvas Business Model: Customer Relationships

Regulated, long-term relationships with utility customers define a core part of UGI Corporation (UGI) Utilities' business.

UGI Utilities served a total of 688,591 customers as of September 30, 2024. UGI Corporation is recognized as the second largest regulated gas utility in Pennsylvania and the largest regulated gas utility in West Virginia. For the regulated utility operations, authorized gas Return on Equity (ROE) targets were 10.15% in Pennsylvania and 9.75% in West Virginia. As of January 27, 2025, UGI Utilities filed a gas base rate case with the PA Public Utility Commission, requesting an overall distribution rate increase of approximately $110 million.

UGI Corporation maintains several customer assistance programs for low-income households, directly linking service reliability to community support.

The UGI Customer Assistance Program (CAP) is available to income-eligible residential natural gas or electric customers with household income at or below 150% of the Federal Poverty Income Guidelines (FPG). For the 2024-2025 period, this meant a family of four could have an annual income up to $48,225 to qualify for CAP.

The Operation Share Energy Fund provides grants to qualified customers with household income verified at or below 250% FPG. For a family of four, this income threshold was up to $6,698 monthly in the 2024-2025 guidelines. Furthermore, the Low-Income Usage Reduction Program (LIURP) assists customers whose gross annual income is within 200% of the FPG. In 2024, UGI expanded its social impact, reporting over $2.8 million in community contributions.

Direct sales and service are executed through the AmeriGas and UGI International branches, which serve a vast, geographically diverse customer base.

AmeriGas Propane, the largest retail LPG distributor in the U.S. by volume distributed annually, maintains a broad geographic footprint with approximately 1,360 distribution locations serving customers across all 50 states. UGI International distributes LPG in 16 countries throughout Europe. For Fiscal 2024, UGI International's LPG volume sales were segmented as follows:

Customer Type (UGI International)	FY 2024 Volume Percentage
Commercial and Industrial (C&I)	49%
Residential	15%
Other (Agricultural, Wholesale, Autogas, etc.)	36%

UGI Corporation is focused on digital self-service portals for billing and account management, supporting its goal of outstanding customer satisfaction. While specific portal usage statistics aren't public, the company's overall financial strength supports this infrastructure; for fiscal year ended September 30, 2025, UGI reported an adjusted net income of $728 million.

For large Commercial and Industrial (C&I) clients, UGI utilizes dedicated account management structures within its business units. UGI International allocated 49% of its Fiscal 2024 LPG volume to C&I customers. Separately, UGI Energy Services runs a natural gas marketing business that retails natural gas to industrial customers at fixed prices. The overall UGI Corporation business generated reportable segments Earnings Before Interest Expense and Income Tax (EBIT) of $1,176 million for fiscal year 2025.

You should review the capital allocation strategy to see how infrastructure investment supports service quality going into 2026. Finance: draft 13-week cash view by Friday.

UGI Corporation (UGI) - Canvas Business Model: Channels

You're looking at how UGI Corporation gets its energy products and services-natural gas, electricity, and propane-into the hands of its customers. It's a mix of heavy infrastructure and retail presence, which is key to their diversified model.

Direct physical delivery via natural gas pipelines and electric grids is managed primarily through UGI Utilities, Inc. This involves a vast network of owned and operated infrastructure.

• UGI's natural gas system spans more than 13,000 miles of distribution main, serving customers in portions of 46 counties in Pennsylvania and one county in Maryland.
• As of late 2025, over 90 percent of UGI Utilities' 13,000 miles of pipelines are made of contemporary material.
• For electric utility service, UGI Utilities operates over 2,200 miles of transmission and distribution lines and 13 substations.
• In Fiscal 2024, the PA Gas Utility system throughput, the total volume of gas sold or transported, was approximately 327 Bcf.

The propane side relies heavily on AmeriGas's retail propane tank exchange and delivery network. AmeriGas Propane is the nation's largest retail propane marketer.

• As of September 30, 2024, AmeriGas's ACE propane tank exchange program cylinders were available at over 47,000 retail locations across the U.S..
• The Cynch propane home delivery service was available in 20 cities as of September 30, 2024.
• UGI International, the European arm, distributes liquefied petroleum gas (LPG) in 16 countries across western and central Europe, operating under six distinct brands.
• In Fiscal 2024, UGI International sold approximately 875 million gallons of LPG throughout Europe.

UGI uses its physical assets to support its customer service operations, which involve both customer service centers and field service teams.

Segment/Function	Metric/Data Point	Value/Amount
UGI Utilities Gas Customers	Total Customers Served (as of late 2024)	More than 642,000
UGI Utilities Electric Employees	Field Service/Operations Staff (as of late 2024)	Approximately 80
UGI Call Center	Customer Care Team Size (as of Oct 2025)	More than 100 members
UGI Utilities Customer Survey	Residential Customers Surveyed (Escalent Study)	59,377

Finally, interaction with customers is supported by online and mobile platforms for customer interaction, though specific usage numbers aren't always public. The company is investing in technology to improve service, as evidenced by the recognition of UGI Utilities as a 'Customer Champion'.

• UGI Corporation delivers energy solutions to more than 2.5 million customers across its entire footprint.
• For utility service issues, customers can call the emergency line at 800-276-2722.

UGI Corporation (UGI) - Canvas Business Model: Customer Segments

You're looking at the customer base of UGI Corporation (UGI) as of late 2025, which is quite broad, spanning regulated utilities, global LPG distribution, and midstream services. Honestly, the diversity is key to their structure.

The utility segment shows clear growth in its core service area. For the fiscal year 2025, the utility segment added over 11,500 residential customers. This is a tangible measure of their regulated business expansion.

Beyond residential, the Commercial and Industrial (C&I) utility customer base is substantial. UGI Corporation has over 63,400 C&I utility customers relying on their natural gas services for operations.

The propane side of the business, which includes AmeriGas and UGI International, serves a massive, diverse group. Globally, the company serves approximately 1.1 million customers through its global liquefied petroleum gas (LPG) business across 50 U.S. states and 16 European countries. This group includes several distinct types of users:

• Residential customers utilizing propane for heating and other needs.
• Commercial and Industrial (C&I) users requiring bulk or cylinder propane.
• Agricultural operations utilizing propane for various needs.
• Wholesale customers purchasing propane in volume.

Specifically within the LPG customer base, UGI supports around 5,200 agricultural clients. This segment is crucial for their non-utility energy offerings.

UGI Corporation also serves the public sector. The company provides services to 142 municipal and government entities. A concrete example of this is the recent partnership where UGI Energy Services will supply Renewable Natural Gas (RNG) to the City of Philadelphia to power 35 of its Compressed Natural Gas (CNG)-powered trash compactors.

The Midstream & Marketing segment targets business customers through different channels. This segment serves nearly 10,800 residential, commercial, and industrial customers across approximately 40,000 locations, often through natural gas marketing or midstream asset utilization.

Here's a quick breakdown of the scale across some of these segments as of the latest available data:

Customer Group/Metric	Count/Value	Segment Context
Total Global Customers	Exceeding 2.5 million	All individuals and businesses globally
C&I Utility Customers	Over 63,400	UGI Utilities segment
Global LPG Customers	Approximately 1.1 million	AmeriGas and UGI International
Agricultural LPG Clients	Around 5,200	Part of the Global LPG customer base
Municipal/Government Entities Served	142	Across utility and energy services
Midstream & Marketing Locations Served	Approximately 40,000	RCI customers served by Midstream & Marketing

To be fair, the utility customer count growth of approximately 9,000 residential heating and commercial customers year-to-date in fiscal 2025 provides context for the 11,500 figure you mentioned, showing consistent, albeit varying, acquisition rates.

Finance: draft 13-week cash view by Friday.

UGI Corporation (UGI) - Canvas Business Model: Cost Structure

You're looking at the major drains on UGI Corporation's cash flow for the fiscal year ended September 30, 2025. The cost structure is heavily weighted toward energy sourcing and maintaining a vast, aging infrastructure. It's a utility business reality.

Commodity procurement costs represent the single largest variable expense for UGI Corporation, encompassing natural gas and LPG purchases. While the exact dollar amount for total commodity procurement isn't broken out separately in the latest reports, you can gauge the scale of operations before these costs by looking at the Earnings Before Interest Expense and Income Tax (EBIT), which was reported at $1,176 million for fiscal year 2025. The company uses derivative instruments to manage this primary market risk.

Significant capital expenditure for infrastructure modernization is a non-negotiable cost. For fiscal year 2025, UGI Corporation deployed roughly $900 million of capital overall. The utility segment was the primary focus, investing approximately $560 million, largely dedicated to replacing and upgrading the gas distribution infrastructure. Looking ahead, the company has a substantial deployment plan, targeting about $4.7 billion in capital expenditure across FY26 through FY29.

Operating and administrative expenses (OPEX) saw increases driven by rising costs across the board. Specifically within the utility segment for fiscal 2025, OPEX increased by $25 million. This rise reflects higher personnel expenses, increased general insurance costs, and greater maintenance expenses.

Depreciation and amortization (D&A) is a direct consequence of the extensive asset base and ongoing investment. In the Utilities segment alone, higher depreciation expense of $12 million was recorded in FY 2025, directly resulting from the continued distribution system capital expenditure activity.

Interest expense on debt is definitely a factor given the company's leverage profile. UGI Corporation ended fiscal 2025 with a leverage ratio of 3.9x (net debt to Adjusted EBITDA). This level of debt means interest payments are a material cost, though the company's EBIT covered its interest expense 3.2 times over in the period.

Here's a quick look at some of the key financial figures impacting the cost side of the ledger for UGI Corporation in FY 2025:

Cost Component Metric	FY 2025 Amount/Ratio	Context/Segment
Reportable Segments EBIT	$1,176 million	Before Interest and Tax
Total Capital Expenditure	Roughly $900 million	Total Deployment
Utility Capital Expenditure	Approximately $560 million	Gas Distribution Modernization
Utility OPEX Increase	$25 million	Increase over Prior Year
Utility Depreciation Expense Increase	$12 million	From Capital Activity
UGI Corporation Leverage Ratio	3.9x	Net Debt to Adjusted EBITDA
EBIT Interest Coverage Ratio	3.2x	Times EBIT covers interest expense

UGI Corporation (UGI) - Canvas Business Model: Revenue Streams

You're looking at the hard numbers that fuel UGI Corporation's operations for fiscal year 2025, which ended September 30, 2025. The revenue streams are clearly segmented across regulated and unregulated energy businesses, which helps balance performance across different economic cycles.

The regulated side, the Utilities segment, is a bedrock, reporting record EBIT of $403 million in FY 2025, which was up $3 million over the prior year. This segment's total margin increased by $39 million, largely driven by a 10% increase in core market volumes from colder than prior year weather, higher gas base rates in West Virginia, and continued customer growth. The regulated gas utility added over 11,500 new residential heating and commercial customers during the year, growing its customer base to roughly 967,000 customers across Pennsylvania, West Virginia, and Maryland.

The retail propane business, AmeriGas, also contributed significantly to the bottom line. AmeriGas generated strong results with an EPS contribution of $0.27, benefiting from operational momentum and income tax benefits, including from the effect of the One Big Beautiful Bill Act, which restored interest expense deductibility. The AmeriGas segment achieved a $24 million increase in EBIT.

Midstream services and energy marketing fees flow through the Midstream & Marketing segment. This segment reported an EBIT of $293 million, which was down $20 million versus the prior year. This decrease was largely due to lower margin and reduced income from equity method investments, though increased margins from gas marketing activities partially offset a $22 million decrease in lower margins from natural gas gathering and processing operations and the 2024 divestiture of the power generation asset Hunlock Creek.

Here's a quick look at how the key segments contributed to the total reportable segments EBIT:

Segment	FY 2025 EBIT (Millions USD)	Year-over-Year EBIT Change (Millions USD)
Utilities	$403 million	Up $3 million
Midstream & Marketing	$293 million	Down $20 million
UGI International	$314 million	Down $9 million
Total Reportable Segments EBIT	$1,176 million	Down $20 million (from $1,178 million in prior year)

Overall, UGI Corporation's total revenue for FY 2025 was approximately $7.29 billion, a 1.07% increase from 2024. This top-line performance supported an Adjusted diluted EPS of $3.32 in fiscal 2025, which was $0.26 higher than the prior year. The company also generated robust cash flow, achieving approximately $530 million of free cash flow inclusive of cash generated from asset sales, while ending the year with available liquidity of approximately $1.6 billion.

The revenue stream composition is reflected in these key financial outcomes:

• Regulated natural gas and electric distribution sales (Utilities segment EBIT was $403 million in FY 2025).
• Retail propane sales and distribution fees (AmeriGas segment EBIT increased by $24 million).
• Midstream services (gathering, processing) and energy marketing fees (Midstream & Marketing segment EBIT was $293 million).
• Total revenue for FY 2025 was approximately $7.29 billion.
• Adjusted diluted EPS reached $3.32 in fiscal 2025.

Finance: review the impact of the $110 million gas base rate case filed in January 2025 on Q1 2026 regulated revenue projections by next Tuesday.