NewPower and AMPO Sign Letter of Intent Providing Major Opportunity to Sign Up Natural Gas Aggregation Customers Throughout Ohio.Business Editors & Energy Writers PURCHASE, N.Y.--(BUSINESS WIRE)--May 21, 2001 The New Power Company(TM), a subsidiary of NewPower Holdings, Inc. (NYSE NYSE See: New York Stock Exchange :NPW NPW National Payroll Week NPW National Police Week NPW Net Premiums Written NPW Net Present Worth NPW NASA ParaWing (kite) NPW Not Proceeded With NPW New Pals Welcome (swapping) ), the first national energy provider, and AMPO AMPO Association of Metropolitan Planning Organizations AMPO Advanced Maritime Projects Office , Inc., a subsidiary of AMP-Ohio, Inc., announced they have signed a letter of intent to co-brand a gas aggregation program for residents and small businesses throughout Ohio. Gas aggregation programs leverage the group buying power Buying Power The money an investor has available to buy securities. In a margin account, the buying power is the total cash held in the brokerage account plus maximum margin available. Also referred to as "Excess Equity. of consumers to negotiate favorable prices and services. Under the terms of the letter of intent, AMPO and NewPower have agreed to develop gas aggregation programs in Ohio by means of a two-year strategic marketing agreement. AMP-Ohio is a nonprofit wholesale power supplier and services provider for most of Ohio's 85 community-owned public power systems. AMP-Ohio also owns the Richard H. Gorsuch Generating Station, a 213-megawatt coal-fired facility located in Marietta, Ohio Marietta is a city in the U.S. state of Ohio and the county seat of Washington County. The municipality is located in southeastern Ohio along the Ohio River. The population was 14,515 at the 2000 census. that provides power to 48 participating member communities. As an immediate consequence of the AMPO-NewPower agreement, and in an effort to offer City of Cleveland consumers a low, "fixed" cost natural gas alternative for the upcoming heating season, AMPO and the City of Cleveland also announced today that they have entered into a Memorandum of Understanding A Memorandum of Understanding (MoU) is a legal document describing a bilateral or multilateral agreement between parties. It expresses a convergence of will between the parties, indicating an intended common line of action and may not imply a legal commitment. under which NewPower will develop an attractive fixed price natural gas program for Cleveland consumers. "We are very pleased about this new relationship with AMPO and the opportunity to serve residents and small commercial customers in the City of Cleveland," said H. Eugene Lockhart Eugene Lockhart, Jr. (born March 8, 1961 in Crockett, Texas) is a former American football linebacker who played for nine seasons in the National Football League from 1984 to 1992. He played college football for the University of Houston. , NewPower's president and chief executive officer. "Aggregation is being used with success in Ohio because it gives consumers buying leverage that helps to lock in better energy rates. The timing of this program gives Cleveland consumers the opportunity to avoid the frustrating and unpredictable heating bills that they experienced this past winter." About NewPower Holdings, Inc. NewPower Holdings, Inc. (NYSE:NPW), through its subsidiary, The New Power Company, www.newpower.com, is the first national provider of electricity and natural gas to residential and small commercial customers 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. . The Company offers consumers in restructured retail energy markets competitive energy prices, pricing choices, improved customer service and other innovative products, services and incentives. About AMP-Ohio, Inc. AMP-Ohio, Inc. is the nonprofit wholesale power supplier and services provider for most of Ohio's 85 community-owned public power systems and three Pennsylvania and two West Virginia public power systems. AMP-Ohio also owns the Richard H. Gorsuch Generating Station, a 213-megawatt coal-fired facility located in Marietta, Ohio that provides power to 48 participating member communities. SOURCE: The New Power Company |
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