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ENRON CORP. COMMENDS NEW HAMPSHIRE'S ACTION
AUTHORIZING ELECTRIC UTILITY INDUSTRY RESTRUCTURING
FOR IMMEDIATE RELEASE: Tuesday, May 21, 1996
HOUSTON -- Enron Corp. today commended the state of New Hampshire
for enacting legislation that will fundamentally restructure the
state's electric utility industry. The legislation calls for
increased customer choice and the development of competitive wholesale
and retail electricity markets.
"Governor Merrill and legislators of New Hampshire have
taken a significantly progressive step that will reduce costs
for all electricity consumers in their state," said Kenneth
L. Lay, chairman and chief executive officer of Enron Corp. "As
the first state to sign a retail wheeling bill, which will allow
every consumer to select his or her own electricity provider,
New Hampshire has begun a process of ensuring customer choice
that we hope will be embraced by all states."
The New Hampshire legislation directs the Public Utilities
Commission to implement customer choice by January 1, 1998, and
strongly encourages competitive reform of the New England power
pool.
"As a successful participant in the wholesale electric market,
Enron intends to provide electric services to customers in the
competitive retail electricity market, and we believe the restructured
environment in New Hampshire provides the climate for market forces
to work," Lay said.
Enron is participating in New Hampshire's retail electric pilot
program that began May 1, 1996. Under the program, Enron is one
of 24 suppliers which are soliciting 17,000 pilot program customers
in an effort to provide them electricity service beginning May
28, 1996.
Enron Corp., one of the world's largest integrated natural gas
companies with approximately $13 billion in assets, operates the
second largest natural gas transmission system in the world; is
the largest purchaser and marketer of natural gas and the largest
non-regulated marketer of electricity in North America; produces
and markets natural gas liquids worldwide; owns 60 percent of
Enron Oil & Gas Company, one of the largest independent (non-integrated)
exploration and production companies in the United States; owns
55 percent of Enron Global Power & Pipelines L.L.C., which
is owner and manager of operating power plants and natural gas
pipelines in emerging markets; and is one of the largest independent
developers and producers of electricity in the world. Enron Corp.
is traded under the ticker symbol, "ENE."
For additional information please contact:
Diane Bazelides
(713) 853-6285
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