PG&E Energy Services Inks Retail Deal
PG&E Energy Service continued to amass a large collection of
retail supply and services contracts last week, adding Lucky Stores
and American Drug Stores to a list that includes Safeway
supermarkets, Rite-Aid drug stores, McDonald's restaurants,
Blockbuster stores, ARCO gas stations Neiman-Marcus department
stores and IBM.
The deal with the American Stories subsidiaries is expected to
be worth $300 million to PG&E Energy. American is the nation's
third largest food and drug retailer. The multi-year contract calls
for PG&E to supply electricity and metering to more than 600
Lucky supermarkets and Sav-on drug stores throughout California.
The parties also may expand the contract nationwide to cover more
than 1,700 facilities in 27 states.
To date, PG&E Energy Services has entered into long-term
agreements that in total represent over $2 billion in revenue.
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