Year

Polaroid Corp. of Cambridge, MA, and Enron Energy Servicessigned a 10-year outsource agreement for Enron to provide energymanagement services at Polaroid’s seven major U.S. facilities. Thedeal is worth more than $200 million. Enron will manage or supplyPolaroid’s energy commodity requirements including electricity, gasand fuel oil; design, build, operate and finance certain energyinfrastructure improvement projects; as well as provide alloperation and maintenance services at Polaroid’s three centralmanufacturing plants in Massachusetts: Waltham, New Bedford andNorwood. “Enron will drive energy savings for Polaroid by managingtheir commodity usage, investing capital to upgrade or replacePolaroid’s energy equipment and by providing best in classoperation and maintenance services,” said Lou Pai, Enron EnergyServices CEO. Enron will offer positions to the 20 Polaroidemployees in the company’s Operation and Maintenance team.

Marking its fourth Northeast LDC purchase this year, SouthernUnion (SU) bought Cumberland, RI-based Valley Resources for $160million, including the assumption of debt, the companies said lastweek. The boards of directors for both Valley Resources and SU haveunanimously approved the deal. The merger is expected to becompleted within nine months.

Marking its fourth Northeast LDC purchase this year, SouthernUnion (SU) bought Cumberland, RI-based Valley Resources for $160million, including the assumption of debt, the companies saidyesterday. The boards of directors for both Valley Resources and SUhave unanimously approved the deal. The merger is expected to becompleted within nine months.

Reliant Energy Retail Group and Luby’s Restaurants LP of SanAntonio, TX, made a multi-year energy services agreement fornon-regulated Reliant Energy Solutions Inc. to develop andimplement a comprehensive energy management services program forall Luby’s locations in the United States.

Trigen-Cinergy Solutions (TCS) signed a 20-year energy servicescontract with Eastman Kodak Co. to serve Kodak Park. The 1,300-acrecampus, with 160 major buildings, is in Rochester, NY, and isKodak’s main manufacturing site. TCS has been selected energymanager for steam and electric utility services, including 196megawatts of onsite electric generation capacity. TCS also willmanage all fuel procurement for Kodak Park. Transfer of operationsis expected to be in January.

Seeking to expand its presence in the Pennsylvania-NewJersey-Maryland market, PP&L’s marketing subsidiary, PP&LInc. agreed to a one-year gas services contract with the townshipof Easton, MD, earlier this week.

Calgary-based PanCanadian Petroleum Ltd. announced a $1.2billion capital spending program for 2000, an increase over 1999.The company plans to spend $940 million primarily in theexploration and development of PanCanadian’s western Canadaproperties, with a significant portion devoted to growing gasassets, including off Nova Scotia, in the Gulf of Mexico andoverseas.

Oklahoma Corporation Commission Chairman Bob Anthony stillbelieves his state’s ratepayers are getting the short end of thestick in a 10-year supply contract that Oklahoma Natural Gas (ONG)originally made with now-bankrupt Dynamic Energy Resources. That1993 contract was divided and transferred to two other suppliersnow serving the utility under the original terms.

PG&E Energy Trading signed one-year gas management contracts with Roanoke Gas Co. and its affiliate Bluefield Gas Co. last week that the LDCs say could save them $750,000 in capacity release costs alone. Financial terms of the contracts were not disclosed. The deals are expected to begin Nov. 1.