Subject: the new power company
the new power company , the first national residential and small business
energy service provider in deregulated
markets was launched today with strategic investors and partners including
enron , ibm and america online .
h . eugene lockhart has been named president and chief executive officer of
the company . he was formerly president
of at & t consumer services and chief marketing officer of at & t , as well as
president of bank america ' s global retail
bank and president and ceo of mastercard international . lockhart is joined
by a number of high - level executives from
the telecommunications and financial services sectors as well as several
former enron executives specializing in energy
commodity pricing , marketing , risk management and government regulatory
affairs .
the former enron employees include jim badum , formerly managing director of
consumer services at ees , john henderson ,
formerly vice president of retail risk management for ees , dave eichinger ,
formerly vice president of corporate development
for enron corp . , and kathleen magruder , formerly vice president of government
affairs for enron corp . lou pai , chairman and
ceo for ees will serve as non - executive chairman of the new power company .
enron will provide the new power company with energy commodity pricing , risk
management , and government /
regulatory affairs . ken lay is quoted in the news release , " we ' ve studied
the residential and small business market
for several years and believe this is the optimal way to provide value to
these customers . by assisting in setting up
an independent company , enron is able to leverage its core competencies of
energy and risk management , while
partnering with other industry leaders to give the new power company
extraordinary and immediate depth and
capability . " ken will also serve on the board of directors .
the new power company is scheduled to initially provide service in
pennsylvania and new jersey in the second half
of 2000 . the company will be headquartered in greenwich , connecticut , with
some operations in houston .
for more information , please log onto their website at
http : / / www . newpowercompany . com .