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ENRON CHAIRMAN APPLAUDS PROGRESS
OF ELECTRICITY DEREGULATION LEGISLATION
FOR IMMEDIATE RELEASE: Monday, February 10, 1997
HOUSTON -- ENRON Chairman and Chief Executive Officer
Kenneth L. Lay today welcomed the recent introduction of comprehensive legislation in the U.S. House and Senate to modernize America's electricity industry.
"The introduction of similar bills in both Houses of Congress
and the supportive comments by the leadership of both parties demonstrates the growing consensus to restructure our country's obsolete system of regulating electric power," Lay said. "Consumers of electricity are paying too much and should have the ability to shop around for lower prices and better service. Progressive legislation will enable our states to move quickly into a new era of electricity competition and consumer choice.
"States from New Hampshire to California are already moving
forward with new systems that will mean enormous savings -- dollars that will be freed up for investment in economic growth and jobs," Lay said. "Legislation passed by Congress will encourage other states to continue their movement toward deregulation.
"I applaud the leadership of the bills' authors, Energy and
Power Subcommittee Chairman Dan Schaefer (R-CO) and Senator Dale Bumpers (D-AR) the ranking Democrat on the Senate Energy Committee and others, such as House Majority Whip Tom DeLay (R-TX), Commerce Committee Chairman Tom Bliley (R-VA), and Congressman Ed Markey (D-MA), who have helped move this issue
to the forefront of the 105th Congress," said Lay. "The estimated $60 to $80 billion a year in savings that will be enjoyed by all electricity customers will put more money in families' pockets
and make our country's businesses more competitive."
ENRON, one of the world's largest integrated natural gas and
electricity companies with approximately $15 billion in assets, operates one of the largest natural gas transmission systems in the world; is the largest purchaser and marketer of natural gas and the largest non-regulated marketer of electricity in North America; 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; and is one of the largest independent developers and producers of electricity in the world. ENRON is traded under the ticker symbol, "ENE."
For additional information please contact:
Gary Foster
(713) 853-4527
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