The changing face of the energy industry finally prompted NGCCorp. to change its name to something that encompasses electricpower as well as natural gas and other commodities. NGC is nowDynegy, a name fashioned from the words dynamic and energy.

NGC began as a natural gas trading company in 1985 and is now a$13 billion energy marketing services company, with businessesincluding gas, power, crude oil and coal marketing; powergeneration; and natural gas liquids production and marketing. Mostrecently, the company made a series of regional alliances withutilities aimed at penetrating what is expected to become a $300billion deregulated gas and electricity market throughout NorthAmerica.

The new name and logo were rolled out at an event attended bymore than 1,000 people in downtown Houston last week. The eventincluded a multimedia presentation with a laser light show and wasbroadcast live over the Internet. When asked what the presentationcost, a spokeswoman demurely intimated “as much as two full-pageads in the Wall St. Journal,” but she wouldn’t give a dollarfigure. The event was reminiscent of one held by Enron at the samedowntown Houston hotel when the company changed its logo to the big”E” in January 1997 (See NGI Jan. 20, 1997).

“Given the changing scope of the company and the breadth of ourstrategic vision, we felt the time had come to change our name andlogo to better reflect who we are today and what we will betomorrow. The name Dynegy embodies our future vision, a dynamiccompany embracing the challenges of an energy marketplace openingto competition and people driven to perform beyond expectations,”said Chuck Watson, Dynegy CEO.

The new logo is a tangram, a seven-piece puzzle invented inChina more than a thousand years ago. The seven precise pieces ofthe tangram can be assembled in thousands of ways. The onlylimitation to the number of solutions is imagination. The puzzle issaid to reflect a company with the ability to respond flexibly toits customers’ needs, as well as the imagination to identifyproblems and create solutions that arise in providing energyservices to a dynamic marketplace. Dynegy has trademarked threesolutions of the tangram for use as corporate symbols. They depicta running person; a figure standing on its hands; and a square. Thename and logo were developed from an extensive market and customerresearch campaign conducted by Anspach Grossman Enterprise, one ofthe nation’s leading corporate identity consultants. The shapes inthe logo should be familiar to anyone who has played thebrain-teaser game Tangoes.

Watson said opportunities for the company to participate in anindustry in transition, namely the electric power market, issimilar to the situation the company found itself in its infancy.”NGC has been an industry leader in the reformation of the naturalgas marketplace. I am certain that as the power industry followsthis same course and continued convergence and retail access grows,Dynegy will once again be among the leaders. There is only oneconstant in our industry: change. Where some see uncertainty, wesee overwhelming opportunity.”

All subsidiary companies will operate under the Dynegy name:Natural Gas Clearinghouse and Electric Clearinghouse will becombined and named Dynegy Marketing and Trade; Destec Energy willbecome Dynegy Power Corp.; Warren Petroleum Company will be DynegyMidstream Services, Limited Partnership; and NGC Oil Trading &ampTransportation Inc. will be named Dynegy Oil Trading &ampTransportation Inc.; NGC United Kingdom Ltd. and NGC Canada Inc.will be named Dynegy United Kingdom Ltd. and Dynegy Canada Inc.,respectively.

Watson said bringing divisions such as Warren and Destec underthe Dynegy name with the rest of the company actually will savemoney on supporting brand identities. One thing that will be goingis “The Energy Store” tagline NGC had been using. “The Energy Storeserved us well for five years now. The Energy Store doesn’t quiteencompass everything that we are.” Dynegy’s advertising campaignwill be focused on business to business advertising using tradejournals and direct mail.

Shareholder approval of the name change is required andexpected.

Joe Fisher, Houston

©Copyright 1998 Intelligence Press, Inc. All rightsreserved. The preceding news report may not be republished orredistributed in whole or in part without prior written consent ofIntelligence Press, Inc.