Cinergy Corp. is reorganizing its power and gas tradingoperations in the wake of former President J. Wayne Leonard’sdeparture to Entergy Corp. Cinergy has named Madeleine W. Ludlow,currently vice president and chief financial officer, to be the newpresident of Cinergy Capital and Trading and announced Michael J.Cyrus, an executive with Electric Clearinghouse, will becomeexecutive vice president, overseeing power trading operations.

Ludlow joined Cinergy last year from Enterprise DiversifiedHoldings Inc., a subsidiary of Public Service Enterprise Group ofNewark, NJ, where she was vice president-enterprise corporatedevelopment. Cyrus is currently senior vice president, trading andoperations with Electric Clearinghouse, a subsidiary of NGC Corp.

“We are moving quickly to capitalize on the momentum that wehave built in the energy commodities business, which has increasedelectric trading by more than 600% in two years,” said Cinergy CEOJames E. Rogers. “Madeleine Ludlow’s financial and risk managementexpertise, combined with Michael Cyrus’ extensive experience in thetrading markets, will facilitate continued growth in the electriccommodity market and move us toward our goal of being a marketleader.”

Cinergy marketed 54.4 million KWh in 1997. Its gas marketingoperation is small, with “limited” volumes sold last year, aspokesman said, adding however, Cinergy is “actively looking atincreasing its gas marketing operations” through a purchase,alliance, merger or any other means available.

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