EES Gets Taken Out To the Ballgame
Enron Energy Services Inc. (EES) will be the exclusive provider
of electricity and energy and facilities management services for
the San Francisco Giants through a 10-year energy commodity
agreement and a 15-year management contract for Pacific Bell Park.
Through these two contracts, totaling more than $60 million, EES
will provide the electricity to operate Pacific Bell Park, as well
as services for heating, ventilation and air conditioning and
administration of various subcontracts for maintenance of all
mechanical and electrical equipment. EES also will provide the
Giants with capital to purchase equipment needed to operate the
stadium and, through fixed-price contracts, will provide risk
management services related to managing volatility of long-term
stadium operating costs.
"These agreements capture our core competency-the integration of
commodity, capital and energy and facilities management
services-and exemplify the tremendous value we can bring to sports
facilities as their full-service energy and facility management
provider," said Lou L. Pai, CEO of Enron Energy Services. "This
comprehensive relationship with the Giants further confirms our
commitment to the California market and is the first to take
advantage of our full range of capabilities, including facility
management services which we have been building as part of our
overall strategy for Enron Energy Services."
Pacific Bell Park is the first privately financed major league
ballpark built in more than 30 years. EES will have signage and
promotional rights at the new ballpark. Construction of Pacific
Bell Park is scheduled to be completed in April 2000. The EES
contracts will become effective in early 1999, when the company
will support the Giants in commissioning the systems for the
stadium and then provide power once the systems are functional.
Joe Fisher, Houston
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