Reliant Energy Thermal Systems, an unregulated affiliate ofReliant Energy’s Retail Group, is providing energy managementservices to the Astrodomain Complex for SMG/LMI, contractor to theHarris County (TX) Management Corp. The stadium and exhibitioncomplex is made up of Houston’s Astrodome, Astrohall andAstroArena. SMG/LMI contracted with Reliant Energy Thermal Systemsfor an initial three-year period to provide operation andmaintenance of the cooling and heating plants, including HVAC(heating, ventilation, and air-conditioning) systems; maintenanceof the plumbing, electrical, and lighting systems; and utilitymanagement and new plant consulting services. The effective date ofthe contract was April 1, with renewal options. Other terms are notbeing disclosed.
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DTE Inks Deal to Market Standby Power Units
DTE Energy Technologies, an unregulated subsidiary of DTE EnergyCo., reached a distribution agreement with Waukesha, WI- basedGENERAC Power Systems, a manufacturer of prepackaged standby powersystems for homes and small businesses.
Growing Pains for PG&E’s Unregulated Units
Despite continued expansion of revenues in energy trading andservices, PG&E Corp. reported continued depressed earningsresults in those two areas in the third quarter, along with red inkin its Texas operations. Its traditional Pacific Northwestinterstate pipeline, combination utility and merchant power plantbusinesses all continue to be its money-makers, although down orabout the same compared to similar three-month and nine-monthresults last year.
OCC, ONG Agree on Assets to Unbundle
The Oklahoma Corporation Commission (OCC) and Oklahoma NaturalGas Co. (ONG) hammered out which of the LDC’s transmission anddistribution assets will be regulated and which will be unregulatedand open to competitive bidding. Once sufficient competition existsin the marketplace, competitors will bid to provide service usingthe unbundled assets. Unbundled assets are to be removed from ONG’srate base.
PG&E Non-Utility Operations Lag in 1Q99
While reporting increased earnings overall for both its utilityand unregulated businesses, PG&E Corp.’s first quarter resultsreleased yesterday (May 17) continue to show red ink for its Texasnatural gas operations, trading and energy services businesses.Results were net earnings of 42 cents-per-share, or 37 cents fullydiluted, compared to 36 cents-per-share for the first quarter of1998. Overall, the utility contributed all but three cents to theearnings, compared to 1998 first quarter when it provided 100percent of the earnings.
WA Water Power Cuts Dividend, Changes Stripes
Taking its name and direction from its unregulated subsidiary,Washington Water Power announced Monday it will be cutting itsdividend by 61% and putting the money saved into growing allaspects of its business. The aim is to grow “a bigger and strongercompany” and the second priority is speed, the company’s newchairman and CEO Tom Matthews said.
Williams Completes Mapco Deal
The Williams Companies completed the acquisition of Mapco Inc.shifting the bulk of the company’s assets into an unregulatedbusiness environment.
Sale of Generation Assets to USGen Gets Nod
FERC approved the divestiture-sale of most of the non-nucleargeneration assets of New England Power Co. (NEPCO) and NarragansettElectric Co. to USGen New England Inc., an unregulated subsidiaryof PG&E Corp.
