Cincinnati

Cincinnati-based Cinergy Corp. said that next year’s profitsmight exceed expectations because of its growth from the purchaseof power plants. Cinergy now expects earnings per share for 2000 tohit the consensus estimates of $2.55, however next year, thecompany expects to grow 8% through merchant purchases.

Cinergy Corp., a Cincinnati-based diversified energy company,placed an order with Capstone Turbine for $1.5 million. The 52-unitorder of microturbine power systems is part of Cinergy’s newdistribution agreement as one of Capstone Turbine’s major U.S.energy service providers. “The Capstone MicroTurbine is a majordevelopment in ultra-low-emission, ultra-low-maintenance powergeneration. These systems are about the size of a largerefrigerator and are intended to have virtually the sameset-it-and-forget operation profile,” said James E. Rogers, CEO ofCinergy. “Our short-term plans are to deploy these systems usingcrafted energy solution programs for customers that have animmediate need for small capacity additions, high power quality andhigh reliability. We expect, in time, distributed resources likethe Capstone MicroTurbine will reduce peak-demand strain on theelectric grid.”

In accordance with Ohio’s electric industry competitionlegislation, Cinergy’s Cincinnati Gas & Electric Co. (CG&E)filed its transition plan with the Public Utilities Commission ofOhio (PUCO) yesterday. The plan extends a six-year rate freeze foranother six years, but also requests that the utility recover itsstranded costs through the frozen rates. Overall, the utility,which serves 650,000 electric customers in southwestern Ohio, saidthe plan would cause a $77 million reduction on residentialcustomers’ bills. The new law requires PUCO to rule on the plan byOctober 31.

Dynegy announced the sale of all of its gasification assets toCincinnati-based Global Energy Inc. for an undisclosed sum lastweek, effectively exiting the Houston-based company from thegasification business. The sale, which the companies said willclose by the end of the year, is not expected to impact Dynegy’searnings.

Dynegy announced the sale of all of its gasification assets toCincinnati-based Global Energy Inc. for an undisclosed sumyesterday, effectively exiting the Houston-based company from thegasification business. The sale, which the companies said willclose by the end of the year, is not expected to impact Dynegy’searnings.