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
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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