Cinergy awards option for power purchase to LG&E Power Marketing.CINCINNATI--(BUSINESS WIRE)--Dec. 12, 1996--Cinergy (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. ) has awarded a 100-megawatt option contract for electric power purchases to LG&E Power Marketing Inc. Part of a long-range strategy for meeting future energy demands, the option contract helps Cinergy defer de·fer 1 v. de·ferred, de·fer·ring, de·fers v.tr. 1. To put off; postpone. 2. To postpone the induction of (one eligible for the military draft). v.intr. the need to build new power generation facilities while maintaining flexibility in a changing, more competitive industry. "We're taking a flexible, non-traditional approach to planning future power supplies in an uncertain and changing market," said Wayne Leonard, president of Cinergy's Energy Commodities business unit. "With this agreement we can prepare to reliably serve our customers while avoiding costly construction or traditional power contracts that would have limited our flexibility." The contract is for up to 100 megawatts of summer (June-September) peaking power between 1997 and 2002. The option contract gives Cinergy the right, but not the obligation, to buy capacity and associated energy at pre-determined prices during the specified delivery period. Specific terms of the agreement were not disclosed. The contract is part of a Request for Proposal Cinergy issued last spring. "This contract further strengthens our positive working relationship with Cinergy, and we are pleased to provide them with the flexibility and reliability they need in meeting their summer peaking load," said Brian Gordon, regional marketing executive with LG&E Power Marketing. Cinergy Corp. is the parent company of The Cincinnati Gas & Electric Co. and PSI Energy Inc. The combined companies serve approximately 1.4 million electric customers and 440,000 gas customers in a 25,000 square-mile area of Indiana, Ohio and Kentucky. LG&E Power Marketing, headquartered in Fairfax, Va., is the third-largest power marketer by sales volume in the nation. LPM (Lines Per Minute) The number of lines a printer can print or a scanner can scan in a minute. lpm - lines per minute is an indirect wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Louisville, Ky.-based LG&E Energy Corp. (NYSE:LGE LGE LG Electronics LGE Local Government Employers (UK) LGE Laser Guided Energy LGE Louisville Gas & Electric LGE Loop or Ground-start, Exchange (Newbridge) ), an energy services holding company offering a diverse portfolio of electric and natural gas products and services nationwide. CONTACT: Cinergy News Contact: Angeline Protogere, 317/838-1338 (w) 317/298-3090 (h) Steve Brash brash (brash) heartburn. water brash heartburn with regurgitation of sour fluid or almost tasteless saliva into the mouth. , 513/287-2226 (w) 513/231-6895 (h) Investor Contact: Felicia Ramstein, 513/287-4348 or LG&E Energy Corp. Steve Cave, 502/627-2502 (w) 502/346-3614 (pager) |
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