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ENRON TO OPEN REGIONAL OFFICE IN CENTER CITY PHILADELPHIA
FOR IMMEDIATE RELEASE: Monday, February 9, 1998
PHILADELPHIA - Enron Energy Services, Inc. (EES), a subsidiary of Enron Corp., announced today that the company will be opening a regional office in Philadelphia to compete for customers in the Mid-Atlantic region of the United States. The office will be located in the Center City area of Philadelphia.
"Pennsylvania has taken a giant step toward giving its businesses and residents a true competitive electricity marketplace," said Kenneth L. Lay, chairman and CEO of Enron Corp., who made his remarks during the Enron board of directors meeting in Philadelphia. "Some states are only offering their consumers small, mandated rate cuts, while making it virtually impossible for competitors to enter the market and drive prices down. The Pennsylvania model, as outlined thus far, will provide for greater savings, and its consumers will see a quicker introduction of other energy-related services and products as the Public Utilities Commission finishes the job of opening electricity markets to competition in Philadelphia and across the state."
Enron has already begun marketing to businesses and other institutions in Pennsylvania with a comprehensive package of integrated energy services. Delaware Valley Healthcare Council through its Delaware Valley Energy Options affiliate, chose Enron as its exclusive integrated energy and energy services provider to work with its 150 Philadelphia-area members by providing consumption reduction plans, innovative financing for those solutions and competitively priced energy as the state implements deregulation. And through Elliott-Lewis, one of its local Star Providers, Enron developed a $1.4 million, energy efficient HVAC system and energy infrastructure upgrade for Rosemont College.
Enron also began marketing in October to the 5 percent of residential customers across the state who are eligible to participate in the Pennsylvania electric pilot program.
With the opening of the Philadelphia office, Enron will be adding to its existing presence in Pennsylvania. Enron, through its subsidiary, Omnicomp, is a pioneer in the utility software field. The company, based in State College, created FASER , the most widely-used energy and utility accounting program which analyzes utility bill data including energy consumption, tariffs, and other charges. EES also has a sales office in Pittsburgh.
"Every year, we ensure our board members visit an Enron location which exhibits growth opportunities for the company," Lay said. "Enron is looking forward to growing our Philadelphia presence. We believe this is only the beginning. As the Public Utilities Commission continues to encourage competition, we expect to expand this office as we have in other growing markets. Their actions will lead to increasing job opportunities and economic development in Philadelphia and the rest of Pennsylvania."
Enron is the world's leading integrated natural gas and electricity 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."
For additional information please contact:
Gary Foster
713-853-4527
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