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ENRON REFUTES CLAIMS THAT IT INTENDS TO MARKET BPA POWER
FOR IMMEDIATE RELEASE: Thursday, November 6, 1997
HOUSTON - Enron Capital & Trade Resources (ECT), a subsidiary of Enron Corp., reiterated and clarified a media report that the company has no current plans to market power in the Northwest for Bonneville Power Authority (BPA).
"We are not currently studying, nor have any intention of proposing a plan whereby Enron would market BPA's power," said Kenneth D. Rice, chairman and CEO, ECT North America. "If approached by BPA's administration or by a Northwest delegation, we would, of course, be pleased to look at solutions for what we consider a very valuable regional asset in the Northwest."
Rice added that, until approached, ECT would not pursue any marketing role with the utility. "BPA is a valued Enron customer, so we would approach any marketing relationship with them only after working with their management to create such an arrangement, as we do with all our customers," Rice said. "We regret any confusion created by the report."
Rice's comments come after The Oregonian reported that Enron was considering marketing BPA's power.
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:
Terrie James
(713) 853-7727
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