RGC Resources

RGC Resources
Type	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/

Last updated May 04, 2019

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.

Roanoke is an independent city in the U.S. state of Virginia. At the 2010 census, the population was 97,032. It is located in the Roanoke Valley of the Roanoke Region of Virginia.

Natural gas, also called "Fossil Gas" is a naturally occurring hydrocarbon gas mixture consisting primarily of methane, but commonly including varying amounts of other higher alkanes, and sometimes a small percentage of carbon dioxide, nitrogen, hydrogen sulfide, or helium. It is formed when layers of decomposing plant and animal matter are exposed to intense heat and pressure under the surface of the Earth over millions of years. The energy that the plants originally obtained from the sun is stored in the form of chemical bonds in the gas.

Montgomery County is a county located in the Valley and Ridge area of the U.S. state of Virginia. As population in the area increased, Montgomery County was formed in 1777 from Fincastle County, which in turn had been taken from Botetourt County. As of the 2010 census, the population was 94,392. Its county seat is Christiansburg.

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.

The Hotel Roanoke & Conference Center is a luxury hotel located in the Gainsboro neighborhood of Roanoke, Virginia. Originally built in 1882, the hotel has been renovated many times. It is currently owned by Virginia Tech and operated under the Curio - A Collection by Hilton brand. It was added to the National Register of Historic Places in 1996.

Coal is a combustible black or brownish-black sedimentary rock, formed as rock strata called coal seams. Coal is mostly carbon with variable amounts of other elements; chiefly hydrogen, sulfur, oxygen, and nitrogen. Coal is formed if dead plant matter decays into peat and over millions of years the heat and pressure of deep burial converts the peat into coal. Vast deposits of coal originates in former wetlands—called coal forests—that covered much of the Earth's tropical land areas during the late Carboniferous (Pennsylvanian) and Permian times.

Coke is a grey, hard, and porous fuel with a high carbon content and few impurities, made by heating coal or oil in the absence of air — a destructive distillation process. It is an important industrial product, used mainly in iron ore smelting, but also as a fuel in stoves and forges when air pollution is a concern.

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