Cinergy Announces Greenhouse Gas Reduction Projects.CINCINNATI -- Cinergy Corp. (NYSE NYSE See: New York Stock Exchange :CIN CIN cervical intraepithelial neoplasia. Cervical intraepithelial neoplasia (CIN) A term used to categorize degrees of dysplasia arising in the epithelium, or outer layer, of the cervix. ) announced today that it has selected the first series of projects in its voluntary program of reducing greenhouse gas greenhouse gas n. Any of the atmospheric gases that contribute to the greenhouse effect. greenhouse gas emissions by five percent below 2000 levels between 2010 and 2012. Fourteen projects totaling nearly $3 million have been selected for 2004 and will provide reductions and offsets of approximately 360,000 tons annually of carbon dioxide carbon dioxide, chemical compound, CO2, a colorless, odorless, tasteless gas that is about one and one-half times as dense as air under ordinary conditions of temperature and pressure. , the most common greenhouse gas. Cinergy announced its voluntary greenhouse gas reduction program in September 2003. It committed $21 million between 2004 and 2010 on projects to reduce or offset its greenhouse gas emissions. These expenditures will allow exploration of the alternative options for reducing carbon dioxide and other greenhouse gas emissions on its electric generating, transmission and distribution systems, as well as its natural gas transmission system. Developed in collaboration with the national environmental organization, Environmental Defense, the 2004 projects include: --Eight projects that will improve the efficiency of Cinergy's electricity generating units --Three renewable energy Renewable energy utilizes natural resources such as sunlight, wind, tides and geothermal heat, which are naturally replenished. Renewable energy technologies range from solar power, wind power, and hydroelectricity to biomass and biofuels for transportation. projects --An energy conservation project in concert with a Cinergy customer --A carbon sequestration sequestration In law, a writ authorizing a law-enforcement official to take into custody the property of a defendant in order to enforce a judgment or to preserve the property until a judgment is rendered. project --The purchase of five hybrid gasoline/electric energy vehicles --A research project to analyze greenhouse gas emissions limitations and related technology. In keeping with Cinergy's plan to spend at least two-thirds of the $21 million dollars for on-system projects, more than 75 percent of the 2004 money was allocated to projects that will directly reduce Cinergy's carbon dioxide emissions. Included are seven heat rate improvement projects at the company's generating stations. The projects are designed to reduce coal consumption by 142,000 tons annually, thus reducing carbon dioxide emissions and other pollutants. The company is also installing new software at its hydroelectric facility at Markland Dam in Indiana to increase its efficiency. Renewable energy projects include donation of a photovoltaic The generation of voltage by a material that is exposed to light in the visible and invisible ranges. See photoelectric and photovoltaic cell. system for the Cincinnati Zoo's new education center, as well a photovoltaic array A photovoltaic array is a linked collection of photovoltaic modules, which are in turn made of multiple interconnected solar cells. The cells convert solar energy into direct current electricity via the photovoltaic effect. at PSI Energy's customer service center in Bloomington, Ind. A wind turbine is being installed at the Wolcott rest area on Interstate 65 in Indiana. Cinergy Solutions Inc. is working with the Oldenburg Academy in Oldenburg, Ind. on an energy retrofit program. Cinergy will fund the lighting retrofit of the high school to replace fixtures that are 30 to 40 years old, upgrading the quality of the lighting while reducing energy consumption and cost. In the carbon sequestration area, Cinergy is funding the purchase of trees for a 300-acre reforestation Reforestation The reestablishment of forest cover either naturally or artificially. Given enough time, natural regeneration will usually occur in areas where temperatures and rainfall are adequate and when grazing and wildfires are not too frequent. project being managed by the Nature Conservancy Nature Conservancy, nonprofit organization established in 1951 to preserve or aid in the preservation of natural environments. It protects wilderness areas in the United States and Canada and is affiliated with similar groups in Latin America and the Caribbean. in Harrison County Harrison County is the name of eight counties in the United States:
Cinergy is purchasing five Toyota Prius The Toyota Prius is a hybrid electric vehicle developed and manufactured by the Toyota Motor Corporation, and one of the first such vehicles to be mass-produced and marketed. The Prius first went on sale in Japan in 1997, and worldwide in 2001. hybrid vehicles This is a list of hybrid vehicles in chronological order of production: Early designs
n. The pipe through which exhaust gases from an engine are discharged. Also called exhaust pipe. tailpipe Noun a pipe from which exhaust gases are discharged, esp. and evaporative emissions. The Prius is the first car equipped with a new high-voltage/high-power hybrid drive A hard disk drive that contains a built-in, non-volatile cache comprised of flash memory. Reads and writes go through the cache first, enabling the platters to remain at rest most of the time. For laptop computers especially, the less the disk rotates, the less power is used. power train. The five Prius vehicles will emit an estimated 37,140 pounds less carbon dioxide annually than five standard vehicles in Cinergy's corporate fleet. To create additional tools for analyzing future climate change policies, Cinergy is funding research by the Electric Power Research Institute to explore and analyze critical factors in creating effective, efficient greenhouse gas emissions limitations and technology policies. Cinergy Corp. has a balanced, integrated portfolio consisting of two core businesses: regulated operations and commercial businesses. Cinergy's regulated public utilities in Ohio, Indiana, and Kentucky serve 1.5 million electric customers and about 500,000 gas customers. In addition, its Indiana regulated company own 7,000 megawatts of generation. Cinergy's competitive commercial businesses have 6,300 megawatts of generating capacity with a profitable balance of stable existing customer portfolios, new customer origination, marketing and trading, and industrial-site cogeneration. Cinergy's integrated businesses make it a Midwest leader in providing both low-cost generation and reliable electric and gas service. This document includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are based on management's beliefs and assumptions. These forward-looking statements are identified by terms and phrases such as "anticipate", "believe", "intend", "estimate", "expect", "continue", "should", "could", "may", "plan", "project", "predict", "will", and similar expressions. Forward-looking statements involve risks and uncertainties that may cause actual results to be materially different from the results predicted. Factors that could cause actual results to differ materially from those indicated in any forward-looking statement include, but are not limited to, unanticipated weather conditions; unscheduled generation outages; unusual maintenance or repairs; unanticipated changes in costs; environmental incidents, including costs of compliance with existing and future environmental requirements; electric transmission or gas pipeline system constraints; legislative and regulatory initiatives; additional competition in electric or gas markets and continued industry consolidation; financial or regulatory accounting principles; political, legal, and economic conditions and developments in the countries in which we have a presence; changing market conditions and other factors related to physical energy and financial trading activities; the performance of projects undertaken by our non-regulated businesses and the success of efforts to invest in and develop new opportunities; availability of, or cost of, capital; employee workforce factors; delays and other obstacles associated with mergers, acquisitions, and investments in joint ventures; and costs and effects of legal and administrative proceedings, settlements, investigations, and claims. Please refer to the company's SEC filings for additional information concerning factors that could cause actual results to differ materially from those in the forward-looking statements. The Company undertakes no obligation to update the information contained herein. |
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