Southern's Power Sales Rise, Gas Sales Fall
Southern Company Energy Marketing (SCEM), a joint venture of
Southern Co. and Vastar Resources, said its second quarter
electricity sales jumped 21% to 48.2 million MWh from last year's
second quarter. Natural gas sales, however declined by 8% to 4.3
SCEM attributed the decline in second-quarter gas sales to a
decline in market liquidity, along with expected temporary
interruptions in trading while merging its Houston trading floor
into its Atlanta trading floor. For the first half of the year,
however, the company is 12% ahead of the 1998 pace with 5.5 Bcf/d
of sales on average, compared to 4.9 Bcf/d in the first half of
Power sales rose 13% for the first half of the year to 91.5 MWh.
The company was the third largest seller of electricity in the
first quarter of 1999, selling over 41 million MWh. If SCEM
maintains this pace, it will be in line with its full year 1998
results of 185.1 million MWh, which earned second place for the
year behind Enron.
"Southern Energy's newly acquired electricity generation and the
output available to our energy traders had a direct impact on
electricity sales," said Marce Fuller, CEO of Southern Energy.
"This is another sign that our strategy to associate assets with
our trading operation is working."
©Copyright 1999 Intelligence Press Inc. All rights reserved. The
preceding news report may not be republished or redistributed, in
whole or in part, in any form, without prior written consent of
Intelligence Press, Inc.