For UGI Corp., there was a positive side to all that cold winter weather: The Valley Forge company on Wednesday reported a 28 percent increase in quarterly net income, thanks to wild natural gas prices during the polar vortex.

UGI reported adjusted second-quarter net income of $222.1 million, or $1.90 per share, compared to $174.0 million, or $1.51 per share a year ago. While its regulated utilities reported robust sales, the big driver were results from its midstream and marketing operations, which reported an 89 percent increase in revenue and a 172 percent increase in income, to $120.4 million.

"While the most significant driver of this volatility was colder-than-normal weather, which will not occur every year, the more critical long-term factor was the increasing level of natural gas demand and the strain that demand continues to place on our nation's gas infrastructure," said John L. Walsh, president and chief executive officer of UGI.

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