After three months operating as MarketSpan Corp., the companyformed by the merger of Brooklyn Union Gas parent KeySpan Energyand Long Island Lighting and Power, has decided to change its nameto KeySpan Energy. CEO Robert B. Catell said the decision was madebecause of KeySpan’s superior name recognition in its serviceterritory. The company will trade on the New York Stock Exchangeunder the symbol KSE.
“Through our unregulated subsidiaries, the KeySpan name hascontinued to grow in recognition,” said Catell. “The change toKeySpan will reestablish a name with excellent brand equity andpositive recognition among all our constituencies. We want to buildon the values that the KeySpan name represents.”
Most of the company’s subsidiaries have taken on the KeySpanname over the past year, but some consumers, on Long Island forexample, have had to do business with four corporate subsidiarieswith four different names. A spokesman said the change partly isdesigned to simplify things for consumers.
KeySpan’s principal subsidiary is Brooklyn Union, which providesnatural gas service to 1.6 million customers in Brooklyn, Queensand Staten Island, and in Nassau and Suffolk counties on LongIsland.
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