Draft:Consumers' Gas Company

Consumers' Gas Company

Industry	Gas distribution
Founded	23 March 1848 (1848-03-23)
Defunct	1 January 2019 (2019-01-01)
Fate	Merged with Union Gas
Successor	Enbridge Gas
Headquarters	Consumers' Gas Building, Toronto, Ontario

The Consumers' Gas Company was a Canadian gas distribution utility that existed from 1848 to 2019. The company was founded as the Consumers' Gas Company of Toronto and was the city's main gas supplier. In 1957, reflecting its expansion beyond the city, "Toronto" was removed from its name. For the entirety of its history, Consumers' was Canada's largest gas distribution company.

In 1994, the Interprovincial Pipe Line Company (now Enbridge) acquired an 85 per cent stake in Consumers', and in 1996 bought the remainder of the company. In 1998, Consumers' was renamed Enbridge Consumers Gas, and in 2002 became Enbridge Gas Distribution Inc. On 1 January 2019, the company merged with Union Gas to form Enbridge Gas Inc.

History

Natural gas era, 1954-2019

In January 1980, it was announced that Consumers' Gas intended a friendly takeover of the distiller Hiram Walker-Gooderham & Worts Limited. On 9 April 1980, Consumers' and Walker completed their merger. A new holding company, Hiram Walker-Consumers Home Ltd. was created and would operate three wholly-owned subsidiaries: Hiram Walker-Gooderham & Worts, Consumers' Gas, and Home Oil. In February 1981, shareholders approved that the holding company be renamed Hiram Walker Resources Limited. In July 1981, HWR announced that it would sell between 10 and 15 percent of Consumers.' By the end of 1985, it had reduced its holdings to 83.5 per cent.

In December 1990, British Gas purchased Consumers' outright. The company paid C$915 million for the 82 per cent stake held by GW Utilities, and then paid $34 a share for the remaining 18 per cent of the company. For the foreign takeover to proceed, Investment Canada ruled that by the end of 1992, British Gas would have to sell off 15 per cent of the company to Canadians. British Gas made this sale in February 1992 for $170 million, thus reducing its holdings to 85 per cent.

In November 1993, the Interprovincial Pipe Line Company struck a tentative deal to purchase for C$1.2 billion the 85 per cent stake in Consumers' held by British Gas. The deal was approved by the Ontario government in June 1994. In January 1996, Interprovincial applied to the Ontario government to remove the requirement for a 15 per cent public float of common shares in Consumers'. The application was approved that summer, and in October, Interprovincial offered the shareholders of Consumers' $24.00 per share, or cash plus shares in IPL energy. The deal was completed on 11 December.

Leadership

Chairman of the Board

President

Arthur L. Bishop, 1960–1968 Oakah L. Jones, 1968–1973 J. Douglas Gibson, 1973–1980 H. Clifford Hatch, 1980–1981 William P. Wilder, 1981–1987 John Black Aird, 1987–1991 Robert S. K. Welch, 1991–1994

Charles A. Berczy, 1847–1856 Ezekiel F. Whittemore, 1856–1859 Richard Yates, 1858–1867 Edward H. Rutherford, 1867–1874 James Austin, 1874–1897 Larratt W. Smith, 1897–1905 George R. R. Cockburn, 1905–1906 John L. Blaikie, 1906–1912 Albert William Austin, 1912–1934 Arthur Hewitt, 1934–1936 Thomas Bradshaw, 1936–1939 Arthur L. Bishop, 1939–1960 Oakah L. Jones, 1960–1971 Joseph C. McCarthy, 1971–1975 G. Edward Creber, 1975–1978 J. Douglas Gibson, 1978–1979 William P. Wilder, 1979–1981 Robert W. Martin, 1981–1992 Charles F. Safrance, 1992–1994 Ronald D. Munkley, 1994–1997 Rudy G. Riedl, 1997–2001

Company histories

• Edward J. Tucker. Consumers' Gas Company of Toronto: 75th Birthday, 1848-1923. Consumers' Gas Company of Toronto, 1923.
• Edward Phillips. First Century of Consumers' Gas. Consumers' Gas Company, 1948.
• Consumers' Gas Company. A Tradition of Service: The Consumers Gas Story. Consumers' Gas Company Limited, 1993.