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Williams Assumes Full Control of EnergyVision

August 24, 1998
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Williams Assumes Full Control of EnergyVision

Williams took a bigger plunge into the energy marketing business recently when it acquired full ownership of EnergyVision by purchasing the 50% interest in the company that was held by BEC Energy. Terms of the transaction were not disclosed.

Prior to the deal, Williams and BEC Energy, parent of Boston Edison, owned the Burlington, MA-based marketer jointly. EnergyVision is now a wholly owned subsidiary of Williams, which is headquartered in Tulsa, OK.

EnergyVision currently markets natural gas and energy services to small commercial and industrial customers throughout the New England region. "For the time being" those two customer classes will remain the company's "target base," a Williams spokeswoman said. It has a total of about 700 customers and provides them with 16,000 MMBtu/d of gas, said Tom Lawson, director of retail sales for Williams.

He noted that EnergyVision is staying out of the power marketing business for now, but will probably enter it in 1999-2000. "The regulatory environmental is not quite right yet" on the electric side in New England, he told NGI. "The stranded-cost situation really prevents the marketer from being able to compete in that market." EnergyVision also hopes to eventually get into the residential gas market.

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