PECO Energy Company's Power Team Chosen to Supply Power To Kennebunk Light and Power and Fox Islands Electric Coop
Power Team is First Non-New England Utility Chosen To Supply Full Requirement Power
PHILADELPHIA, June 5 /PRNewswire/ -- Power Team, one of the nation's leading sellers of wholesale electricity, has been chosen to supply "full requirements" power to the Kennebunk Light and Power District and Fox Islands Electric Cooperative, two consumer-owned utilities in the state of Maine.
The three year contract begins in June, 1999 and includes all requirements for capacity, energy, reserves, load following, and ancillary services. Power Team is the first non-New England supplier chosen to provide full requirements power to a New England wholesale buyer.
"New England is at the forefront of how electricity markets will be shaped in the future" said Nancy J. Zausner, president of Power Team. "This is a great opportunity for Power Team to grow with two solid customers in that new world."
Kennebunk and Fox Islands awarded Power Team full requirement contracts as a result of a competitive bidding process conducted by Weil & Howe, Inc. of Augusta, Maine. Chester F. Oiler, general manager of Kennebunk Light and Power District commented that, "Competition works! PECO's Power Team stepped up to the challenge and will deliver significant savings."
PECO Energy (NYSE: PE) is a member of the New England Power Pool (NEPOOL) and has been active in the NEPOOL restructuring process over the past two years. Andrew Huemmler, Kennebunk project manager for Power Team, noted "In particular, Power Team is excited about working in NEPOOL which is about to implement markets for each of the power products that comprise full requirements service."
Power Team, a division of PECO Energy, is one of the leading sellers of wholesale electricity in the United States. In 1996, Power Team sold more than 40,000 GWh. Located outside Philadelphia, Power Team operates a 24-hour trading floor which conducts business across the continental U. S. and Canada.
SOURCE PECO Energy Company
/CONTACT: Bill Jones of PECO Energy, 215-841-4129/
CO: PECO Energy Company; Power Team; Kennebunk Light and Power; Fox Islands
Electric Cooperative ST: Pennsylvania, Maine IN: OIL SU:
MZ -- PHTH032 -- 3042 06/05/97 14:20 EDT http://www.prnewswire.com
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|Date:||Jun 5, 1997|
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