Cinergy Offers Additional Earnings Guidance for 2001.Business Editors, Energy Writers CINCINNATI--(BUSINESS WIRE)--April 9, 2001 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. ) today announced additional guidance toward its $2.75 earnings per share target for 2001. "Having acquired 1700 megawatts of gas-fired electric peaking capacity over the last eighteen months, our energy merchant generation portfolio has changed and that is reflected in the timing of our expected profit realization during 2001," said R. Foster Duncan, Executive Vice President and Chief Financial Officer of Cinergy. "We expect to realize 45% of our earnings in the first half of the year and the remaining 55% in the last half of 2001." Cinergy Corp., one of the nation's leading diversified diversified (di·verˑ·s energy companies, has a focused strategy intent on growing its energy merchant business. Cinergy owns, operates or has under development over 21,000 megawatts of generation. Its energy merchant business is the sixth largest electricity trading organization in the U.S. and has physical and financial gas trading capabilities of 17 bcf/day. The "into Cinergy" power trading hub is the most liquid trading hub in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . Cinergy's energy merchant business operates in several regions of the U.S. and is based on a profitable balance of asset development, customer origination Origination The process through which a mortgage lender creates a mortgage secured by some amount of the mortgagor's real property. Notes: Also known as loan origination, everyone must go through the origination process when securing a mortgage for a piece of real , marketing and trading, and industrial-site cogeneration cogeneration In power systems, use of steam for both power generation and heating. High-temperature, high-pressure steam from a boiler and superheater first passes through a turbine to produce power. infrastructure development. Cinergy also owns regulated operations in Ohio, Indiana, and Kentucky that serve about 1.5 million electric customers and about 500,000 gas customers. In addition, Cinergy manages one of the industry's top power technology portfolios. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion