Electric Cooperatives Contract with Morgan Stanley Capital Group for Wholesale Power Needs.Energy Editors/Business Editors LENOIR, N.C. & STATESVILLE, N.C.--(BUSINESS WIRE)--Jan. 5, 2004 Four of North Carolina's 27 electric cooperatives announced today that they have signed an agreement with Morgan Stanley  To comply with Wikipedia's , the introduction of this article needs a complete rewrite. Capital Group Inc. to begin supplying their wholesale power contracts and power supply resources effective January 1, 2004. The boards of Blue Ridge Blue Ridge, eastern range of the Appalachian Mts., extending south from S Pa. to N Ga.; highest mountains in the E United States. Mt. Mitchell, 6,684 ft (2,037 m) high, is the tallest peak. Beginning with a narrow ridge in the north, c. Electric Membership Corporation, Energy United, Piedmont Electric Membership Corporation, and Rutherford Electric Membership Corporation recently approved the move to the new wholesale power supplier. The four co-ops will remain independent members of North Carolina North Carolina, state in the SE United States. It is bordered by the Atlantic Ocean (E), South Carolina and Georgia (S), Tennessee (W), and Virginia (N). Facts and Figures Area, 52,586 sq mi (136,198 sq km). Pop. Electric Membership Corporation (NCEMC) to fulfill former contractual obligations that remain over the next few years, including a long-term contract to receive power from Catawba Nuclear Station. The decision came after a joint yearlong wholesale power supply study by the cooperatives with one of the nation's leading power supply consultants and one of the most respected legal advisors to the industry. The four not-for-profit, member-owned cooperatives collectively serve some 260,000 residential, commercial, and industrial members. The service area of these cooperatives stretches from the Raleigh suburbs to the fringes of Charlotte, to the Blue Ridge Mountains Blue Ridge also Blue Ridge Mountains A range of the Appalachian Mountains extending from southern Pennsylvania to northern Georgia. It rises to 2,038.6 m (6,684 ft) at Mount Mitchell in the Black Mountains of western North Carolina. bordering Virginia and the Piedmont adjoining South Carolina South Carolina, state of the SE United States. It is bordered by North Carolina (N), the Atlantic Ocean (SE), and Georgia (SW). Facts and Figures Area, 31,055 sq mi (80,432 sq km). Pop. (2000) 4,012,012, a 15. . "As we strive to serve our members with the best customer care and value available, this move allows each of our cooperatives to better manage our power supply needs for the benefit of our member-owners," said chief executives of the four cooperatives: Doug Johnson The name Doug Johnson may refer to the following people:
tr. & intr.v. whit·ened, whit·en·ing, whit·ens To make or become white or whiter, especially by bleaching. whit , Rutherford EMC. The top officials said Morgan Stanley Capital Group will also provide energy related risk management products to hedge against fluctuating natural gas prices and other market factors that have led to increasing wholesale power prices the past few years. Morgan Stanley Capital Group is a direct, wholly-owned subsidiary of Morgan Stanley, a large and diversified global financial services firm. It is also an active participant in global commodities markets, including electricity, natural gas, petroleum, and base and precious metals Precious Metals Valuable metals such as gold, iridium, palladium, platinum, and silver. Notes: Investing in precious metals can be done either by purchasing the physical asset, or by purchasing futures contracts for the particular metal. . In 1994, Morgan Stanley Capital Group received authorization from the Federal Energy Regulatory Commission The Federal Energy Regulatory Commission (FERC) is the United States federal agency with jurisdiction over electricity sales, wholesale electric rates, hydroelectric licensing, natural gas pricing, and oil pipeline rates. to buy and sell electric power in the wholesale market at competitive rates. Since then, Morgan Stanley Capital Group has been an active participant in US energy and power markets, providing physical power supply and power system management under competitively priced long term contracts as well as energy-related risk management services to clients throughout the United States, as well as globally. Electric cooperatives are formed as not-for-profit, locally owned and operated entities that exist to meet the energy needs of their member-owners and the communities that they serve. Blue Ridge Electric is located in Lenoir and serves some 66,000 members in seven northwestern North Carolina counties. Energy United, a utility services provider with headquarters in Statesville, serves more than 107,000 members in a 19-county area that extends from Virginia to South Carolina. Piedmont EMC, with headquarters in Hillsborough, serves 28,000 members in seven counties in and adjacent to the Raleigh/Durham/High Point Triangle area. Rutherford EMC has headquarters in Forest City and serves more than 62,000 members in 10 southwestern North Carolina counties. |
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