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ENRON NAMED ARGENTINA'S FIRST POWER MARKETER
FOR IMMEDIATE RELEASE: Monday, May 4, 1998
BUENOS AIRES - Enron International Argentina today announced that its affiliate, Enron Comercializadora de Energia Argentina (ECEA), has been granted the first power marketer license in Argentina. The license permits ECEA to buy and sell electricity as a member of Argentina's electricity pool, Mercado Electrico Mayorista. The license was issued on April 24 in accordance with a governmental resolution that allows companies which do not own power generation assets to market electricity.
"This marks an important step in Enron's strategic efforts to establish power marketing operations in Latin America and to further its participation in the future integration of the Southern Cone's energy markets," said Scott Porter, Enron International Argentina executive director.
Porter said that in addition to ECEA's power marketing activities, Enron International Argentina will offer physical delivery of energy commodities, financial energy products and risk management services to industrial and commercial customers. The company also will provide the same customers with access to low-cost capital and a range of alternatives for securing affordable debt and equity financing for energy-related projects.
"We are pleased with the opportunity to bring competitively priced electricity and risk management products which will provide revenue and cost stability for generators and industries exposed to electricity price volatility," Porter added.
Enron is a 35 percent owner of Argentina's 4,104-mile Transportadora de Gas del Sur (TGS) pipeline system. TGS is the country's leading transporter of clean, efficient natural gas, with a delivery capacity of approximately 1.9 billion cubic feet per day.
Enron is the world's leading integrated energy company. The company, which owns approximately $23 billion in energy related assets, delivers physical commodities and risk management and financial services to provide energy solutions to customers around the world. Enron's internet address is www.enron.com, and the stock is traded under the ticker symbol, "ENE."
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For additional information please contact:
Kelly Kimberly
(713) 853-5377
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