Atmos Energy 2000 Annual Report Download - page 16

Download and view the complete annual report

Please find page 16 of the 2000 Atmos Energy annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 38

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38

12
........ ...................
Expanding Our Non-Utility Operations
MARKETER
he natural gas industry has never been more
competitive.To continue to prosper during
these competitive times,Atmos is developing
new non-utility businesses that will increase
revenues from our existing customer base. In fiscal
2000, we reported non-utility net income of $13.5
million or 37 percent of consolidated net income.
Our non-utility operations included
propane, the
sale of natural gas for agricultural and industrial
customers in West Texas, a 45 percent equity
interest in Woodward Marketing LLC, the sale of
retail products and services, and natural gas storage.
Propane Operations
Net income for our propane operations
increased in 2000 despite weather that was 18
percent warmer than normal and two percent
warmer than a year ago. In February, Atmos
announced a joint venture with three other gas
utilities to combine its propane assets with the
propane operations of those companies to form
a limited partnership, US Propane. In June,Atmos
and its US Propane partners announced they would
merge operations with Heritage Propane Partners,
L.P., to create the fifth largest retail propane mar-
keter in the United States.The Heritage and US
Propane transactions were completed in August and
the combined company serves more than 480,000
customers in 28 states. Atmos’ ownership interest in
T