Enron Energy Services
Our retail unit is a tremendous business that
experienced a break-out year in 2000. We signed
contracts with a total value of $16.1 billion of customers’
future energy expenditures, almost double
the $8.5 billion signed in 1999. We recorded increasing
positive earnings in all four quarters in 2000, and
the business generated $103 million of recurring IBIT.
Energy and facilities management outsourcing is
now a proven concept, and we’ve established a
profitable deal flow, which includes extensions of
contracts by many existing customers. Price volatility
in energy markets has drawn fresh attention to our
capabilities, increasing demand for our services. No
other provider has the skill, experience, depth and
versatility to offer both energy commodity and
price risk management services, as well as energy
asset management and capital solutions. In 2001
we expect to close approximately $30 billion in
new total contract value, including business from
our newest market, Europe.