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ENRON MAKES A BOLD ENTRY INTO CALIFORNIA ELECTRICITY MARKET
First with a consumer discount package, first with a statewide outreach; Energy leader launches a strong play for California customers
FOR IMMEDIATE RELEASE: Thursday, October 23, 1997
SAN FRANCISCO - Capitalizing on its ten-year battle to give all customers the power to choose, Enron Energy Services, an operating unit of Enron Corp., today announced an offer for free electricity and low electric rates for California consumers.
Enron is the first company to offer the state's residential electric customers two weeks of free electricity and rates which are 10 percent less than in 1997. Enron's electric rates are guaranteed to stay low for at least two years.
"We are hitting the ground running," said Lou Pai, chairman and chief executive officer of Enron Energy Services. "The message is simple: we are here to do business. Enron has been fighting for energy deregulation for over a decade and now we're offering low rates and more innovative products to as many Californians as possible."
Enron kicked-off an aggressive California marketing drive with the first major advertising campaign including 60-second TV spots, supported by print, radio and high impact direct marketing.
In addition to its efforts to attract residential customers, Enron has set its sights on capturing a significant share of the commercial and industrial business throughout the state. In support of this effort, Enron has acquired The Bentley Company, a Walnut Creek, California-based energy services, engineering, and management firm. The Bentley Company, one of the oldest and most respected firms in the west, is a recognized leader in providing energy and facilities management solutions for some the nation's leading corporations. With the Bentley acquisition, Enron will offer its commercial, industrial and public sector customers energy efficiency and power quality services as well as cost-reduction projects, metering, billing and creative financing.
"With more than 260 professionals located in five full-service offices on the West Coast and a sterling reputation, Bentley gives Enron an important advantage in California's deregulated electricity marketplace," Pai said. "The acquisition is part of Enron's strategy to compete against the investor owned utilities. With Bentley, Enron will have the capability to offer comprehensive energy solutions to a diverse cross-section of the California marketplace from its world-renown high tech companies to its trend-setting entertainment industry and state-of-the-art health care facilities."
California is the first state in the nation to deregulate the electricity marketplace, and Enron is positioning itself to help Californians make the most of the opportunity. In addition to the Bentley team, Enron is staffing offices in San Francisco, Walnut Creek, Long Beach, Costa Mesa and San Diego.
Enron Corp., one of the world's largest integrated natural gas and electricity companies with approximately $21 billion in assets, operates one of the largest natural gas transmission systems in the world; is the marketer of natural gas and electricity in North America; is a leading participant in liberalized energy markets in the United Kingdom and the Nordic Countries; markets natural gas liquids worldwide; manages the largest portfolio of fixed-price natural gas risk management contracts in the world; is among the leading entities arranging new capital to the energy industry; owns a majority interest in Enron Oil & Gas Company, one of the largest independent (non-integrated) exploration and production companies in the United States; owns a majority interest in Enron Global Power & Pipelines L.L.C., which is owner and manager of operating power plants and natural gas pipelines around the world; is one of the largest independent developers and producers of electricity in the world; and is a major supplier of solar and wind energy worldwide. Enron's internet address is www.enron.com and its common stock is traded under the ticker symbol, "ENE."
For additional information please contact:
Gary Foster
(415)782-7808
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