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Southern Deals for New England Electricity
Through a new tolling deal Southern Company Energy Marketingwill have the exclusive right to supply fuel to and receive powerfrom United American Energy Corp.’s 82 MW gas-fired power plant inLowell, MA. Southern will market and trade electricity from theplant in the New England Power Pool. Terms of the deal were notreleased.
The power plant, known as UAE Lowell Power, serves the Bostonmarket and is operated and managed by UAE’s eastern business unit,UAE Power Operations Corp. Bought in April, it is the firstmerchant power asset acquired by United American Energy.
“This agreement will provide our trading and marketingoperations with access to readily available generation that can beoperated in a flexible manner. It also will help us serve more than300 megawatts of new customer load we’ve obtained in the last sixweeks,” said Jay Catasein, Southern Company Energy Marketingnortheast regional vice president.
“The tolling agreement with Southern Company Energy Marketingprovides UAE with a revenue stream based on our operatingperformance as opposed to energy market fluctuations,” said ReedWills, vice president of project development for UAE PowerOperations. He said the company will be doing more tolling dealsthis year.
Southern Company Energy Marketing also reported Monday its salesof both electricity and natural gas were up in 1999, withelectricity sales increasing by 18%. The company sold 219.35million MW-hours of electricity during 1999, compared with 185.51million MW-hours in 1998. The company sold an average of 5.4 Bcf/dof gas in 1999, compared to 5.3 Bcf/d in 1998. Fourth quarternatural gas sales were down however in 1999 at 6.2 Bcf/d, below the6.3 Bcf/d in 4Q 1998. Fourth Quarter 1999 sales of electricity wereup, however, at 55.14 MW-hours, compared to 38.37 million MW-hoursin 4Q 1998.
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