MLGW again rated as a high-quality investment in bond issuance

Once again, Memphis Light, Gas and Water has been recognized by the market as an excellent investment for bond buyers.

On Sept. 13, MLGW issued over $150 million in bonds across its three utility divisions. The bonds were issued at 2.777 percent interest for the electric division, 2.831 percent for gas and 2.735 for water.

By MLGW’s charter, each division within the utility is financially independent in regards to issuing credit. As a result, S&P Global Ratings and Moody’s Investors Service assessed each separately.

For the second year in a row, MLGW’s water division was assessed by S&P as AAA credit and Aa1 by Moody’s. The electric division was rated AA and Aa2, and gas received AA- and Aa1 ratings, respectively.

The low interest and high credit ratings reflect the market’s confidence in MLGW as a sound investment. The water division’s AAA rating — S&P’s highest rating — is notably difficult to earn. Even the gas division, which last year issued bonds for the first time since 1984, received an interest rate close to the other more highly rated divisions.

MLGW to Close Lanes

MLGW to Close North/South Lanes of Mendenhall Road North of Shelby Drive for Underground Electrical Work

Memphis Light, Gas and Water Division will close all north bound travel lanes of Mendenhall Road just north of Shelby Drive on Tuesday, Sept. 19 at 7 a.m. The southbound lanes will be closed on Thursday, Sept. 21.

This closure is necessary to perform underground electrical work at this location. The work will begin at 7 a.m. and end at 4 p.m. each day.    

United Way's Days of Caring

After a citywide United Way Campaign kickoff Monday night, September 11 at Memphis' United Way of the Mid-South HQ on Tillman Street, volunteers from companies, organizations and non-profits across the Greater Memphis area spent an entire week helping local United Way agencies.

For United Way's Days of Caring, MLGW volunteers, including the Division's campaign steering committee, chair and co-chair, worked at several agencies during the week. They wrapped up the "week of caring" helping at Creative Life School on Riverside Blvd. MLGW volunteers landscaped the students' playground, cleaned up the area and painted several rooms in the school. Thanks to all our hardworking MLGW United Way volunteers!

MLGW crews continue restoration efforts

(September 2, 2017, 10:00 a.m.) –Memphis Light, Gas and Water Division will continue restoration efforts throughout the weekend following power outages resulting from Tropical Depression Harvey that hit the area on Thursday.

More than 40,000 customers were affected by the storm system. Approximately 3,000 customers remain without power as of Saturday morning. MLGW predicts full restoration by Sunday midnight.

MLGW crews work into the evening to restore power

(September 1, 2017, 4:30 p.m.) –Memphis Light, Gas and Water Division will continue restoration efforts into the evening following power outages resulting from Tropical Depression Harvey that hit the area on Thursday.

More than 40,000 customers were affected by the storm system.   Approximately 8,000 customers remain without power. MLGW predicts full restoration by Sunday midnight. 

MLGW crews continue full restoration as a result of Thursday storms

(September 1, 2017, 8:30 a.m.) –Memphis Light, Gas and Water Division began restoration efforts Thursday night for customers affected by Tropical Depression Harvey that hit the area on Thursday.

More than 40,000 customers were affected by the storm system.  Approximately 15,000 customers remain without power. MLGW predicts full restoration by Sunday midnight. 

MLGW Offers Weatherization Expo

M.I.N.E. (MLGW in Neighborhoods Everywhere) will host a weatherization expo at the Glenview Community Center, 1141 S. Barksdale, on Thursday, August 24. The event is from 5:30 to 7:30 p.m.

Attendees will have the opportunity to participate in an EnergySmart workshop to learn how to reduce energy usage and will receive an MLGW Energy Conservation kit. Attendees will also get information about MLGW’s Max Impact Home Weatherization Loan Program that provides low-interest loans up to $2,500 for home weatherization improvements.

Applications for Max Impact will be taken at the Expo. To apply on site, please bring photo identification and verification of income for all homeowners.