PG&E Adds to Southern Marketing Base
PG&E Corp.'s National Energy Group (NEG) has announced an
810 MW long-term tolling agreement with Southaven Power, LLC in
Mississippi, an affiliate of Cogentrix Energy.
The arrangement gives the PG&E group marketing control of
its third power generation asset in the Southern U.S. power market.
The agreement comes on the heels of the company's purchase last
month of the 500 MW Attala Energy Facility in central Mississippi.
NEG also operates a total of 550 MW in Florida and will toll a
significant portion of the capacity from the SRW Cogeneration
facility in Orange County, TX, beginning in 2001 under a long-term
The terms of the tolling agreement announced Monday provide
PG&E National Energy Group's subsidiary, PG&E Energy
Trading, with rights to the total generation capacity produced at
the 810 MW natural gas fueled, combined-cycle facility, located in
Southaven, MS, just south of the Tennessee border near Memphis. The
40-acre project is located adjacent to existing TVA and Entergy
electric substations that will deliver the plant's electricity into
the region's transmission grid.
"We believe arrangements such as this allow us to deploy our
capital resources in an efficient manner by obtaining control over
power generation facilities owned by third parties," stated Thomas
G. Boren, NEG president.
©Copyright 2000 Intelligence Press, Inc. All rights
reserved. The preceding news report may not be republished or
redistributed in whole or in part without prior written consent of
Intelligence Press, Inc.