NGC Becomes 'Dynegy,' Reflecting Changing Energy Industry
The changing face of the energy industry finally prompted NGC
Corp. to change its name to something that encompasses electric
power as well as natural gas and other commodities. NGC is now
Dynegy, a name fashioned from the words dynamic and energy.
NGC began as a natural gas trading company in 1985 and is now a
$13 billion energy marketing services company, with businesses
including gas, power, crude oil and coal marketing; power
generation; and natural gas liquids production and marketing. Most
recently, the company made a series of regional alliances with
utilities aimed at penetrating what is expected to become a $300
billion deregulated gas and electricity market throughout North
The new name and logo were rolled out at an event attended by
more than 1,000 people in downtown Houston last week. The event
included a multimedia presentation with a laser light show and was
broadcast live over the Internet. When asked what the presentation
cost, a spokeswoman demurely intimated "as much as two full-page
ads in the Wall St. Journal," but she wouldn't give a dollar
figure. The event was reminiscent of one held by Enron at the same
downtown Houston hotel when the company changed its logo to the big
"E" in January 1997 (See NGI Jan. 20, 1997).
"Given the changing scope of the company and the breadth of our
strategic vision, we felt the time had come to change our name and
logo to better reflect who we are today and what we will be
tomorrow. The name Dynegy embodies our future vision, a dynamic
company embracing the challenges of an energy marketplace opening
to competition and people driven to perform beyond expectations,"
said Chuck Watson, Dynegy CEO.
The new logo is a tangram, a seven-piece puzzle invented in
China more than a thousand years ago. The seven precise pieces of
the tangram can be assembled in thousands of ways. The only
limitation to the number of solutions is imagination. The puzzle is
said to reflect a company with the ability to respond flexibly to
its customers' needs, as well as the imagination to identify
problems and create solutions that arise in providing energy
services to a dynamic marketplace. Dynegy has trademarked three
solutions of the tangram for use as corporate symbols. They depict
a running person; a figure standing on its hands; and a square. The
name and logo were developed from an extensive market and customer
research campaign conducted by Anspach Grossman Enterprise, one of
the nation's leading corporate identity consultants. The shapes in
the logo should be familiar to anyone who has played the
brain-teaser game Tangoes.
Watson said opportunities for the company to participate in an
industry in transition, namely the electric power market, is
similar to the situation the company found itself in its infancy.
"NGC has been an industry leader in the reformation of the natural
gas marketplace. I am certain that as the power industry follows
this same course and continued convergence and retail access grows,
Dynegy will once again be among the leaders. There is only one
constant in our industry: change. Where some see uncertainty, we
see overwhelming opportunity."
All subsidiary companies will operate under the Dynegy name:
Natural Gas Clearinghouse and Electric Clearinghouse will be
combined and named Dynegy Marketing and Trade; Destec Energy will
become Dynegy Power Corp.; Warren Petroleum Company will be Dynegy
Midstream Services, Limited Partnership; and NGC Oil Trading &
Transportation Inc. will be named Dynegy Oil Trading &
Transportation Inc.; NGC United Kingdom Ltd. and NGC Canada Inc.
will be named Dynegy United Kingdom Ltd. and Dynegy Canada Inc.,
Watson said bringing divisions such as Warren and Destec under
the Dynegy name with the rest of the company actually will save
money on supporting brand identities. One thing that will be going
is "The Energy Store" tagline NGC had been using. "The Energy Store
served us well for five years now. The Energy Store doesn't quite
encompass everything that we are." Dynegy's advertising campaign
will be focused on business to business advertising using trade
journals and direct mail.
Shareholder approval of the name change is required and
Joe Fisher, Houston
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