Southern Energy Consolidating Trading in Atlanta
Southern Company Energy Marketing - the marketing joint venture
of Southern Company unit Southern Energy and Vastar Resources'
Vastar Gas Marketing and Vastar Power Marketing -- plans to move
some of its Houston employees, mainly traders, to its Atlanta
Houston-based cash gas trading activities will move to Atlanta
to join the company's other trading activities in gas and power.
Other employees besides traders will be moving as well. "It has yet
to be determined exactly who and how many will move," a spokesman
said. "It's one of these things we'll see how market conditions
develop over the next year."
The decision was made last month, and the target date for the
beginning of the move is next fall, when an Atlanta trading floor
is expected to be ready. Southern Company Energy Marketing has
about 400 employees, about 120 are currently in Houston, 270 in
Atlanta and a handful at offices in California and Massachusetts.
Remaining in Houston will be the company's financing arm, Energy
Capital, which has about a dozen Houston employees. Improved
efficiency is the reason for the change, the spokesman said. He
said the company will add to its Atlanta staff, but numbers and a
time frame were not yet known.
Joe Fisher, Houston
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