Message-ID: <16565788.1075848329167.JavaMail.evans@thyme> Date: Thu, 5 Apr 2001 10:29:00 -0700 (PDT) From: christopher.watts@enron.com To: john.kinser@enron.com, kayne.coulter@enron.com, rudy.acevedo@enron.com, don.baughman@enron.com, joe.errigo@enron.com, juan.hernandez@enron.com, dean.laurent@enron.com, keller.mayeaux@enron.com, doug.miller@enron.com, chad.starnes@enron.com, joe.stepenovitch@enron.com, miguel.garcia@enron.com, benjamin.rogers@enron.com, steve.olinde@enron.com, mauricio.trejo@enron.com Subject: Fw: power trading: EXELON TO PUSH MARKETING, TRADING COMED PARENT WILL LEVERAGE POWER ASSETS Mime-Version: 1.0 Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit X-From: Christopher Watts X-To: John Kinser, Kayne Coulter, Rudy Acevedo, Don Baughman, Joe Errigo, Juan Hernandez, Dean Laurent, Keller Mayeaux, Doug Miller, Chad Starnes, Joe Stepenovitch, Miguel Garcia, Benjamin Rogers, Steve Olinde, Mauricio Trejo X-cc: X-bcc: X-Folder: \Edward_Baughman_Nov2001\Notes Folders\Discussion threads X-Origin: BAUGHMAN-E X-FileName: dbaughm.nsf ---------------------- Forwarded by Christopher Watts/NA/Enron on 04/05/2001 05:29 PM --------------------------- "Chris Watts" on 04/05/2001 03:59:06 PM To: cc: Subject: Fw: power trading: EXELON TO PUSH MARKETING, TRADING COMED PARENT WILL LEVERAGE POWER ASSETS ----- Original Message ----- From: To: <276682@sm4.texas.rr.com> Sent: Thursday, April 05, 2001 7:32 AM Subject: power trading: EXELON TO PUSH MARKETING, TRADING COMED PARENT WILL LEVERAGE POWER ASSETS > Business > EXELON TO PUSH MARKETING, TRADING > COMED PARENT WILL LEVERAGE POWER ASSETS > Melita Marie Garza, Tribune staff reporter > > 04/05/2001 > Chicago Tribune > North Final > ; N > 3 > (Copyright 2001 by the Chicago Tribune) > > Moving to capitalize on its rapidly growing nuclear power > capabilities, Chicago-based Exelon Corp. plans to significantly > expand its power marketing and trading businesses, Exelon officials > said Wednesday. > > "Our vision is to be the premier nuclear operator in the world," > said Jack Skolds, chief operating officer of Exelon Nuclear, who > spoke at a Salomon Smith Barney analysts' conference in New York. > Added Ken Cornew, vice president of Exelon's trading operations: > "Our strategy is relatively simple: We want to lead the industry in > asset-based power marketing." > > Exelon's strategy--to capitalize on existing power-generating > assets by moving aggressively into trading and marketing-- > essentially is the reverse of that practiced by Dynegy Inc., the > Houston-based company that started life as an energy trader and only > relatively recently has begun acquiring physical assets. Among > Dynegy's holdings are Decatur-based Illinois Power Co., a natural gas > and electric utility. > > Exelon, parent of Commonwealth Edison Co., already is the largest > nuclear power utility in the U.S. and the third largest in the world, > with 17 nuclear reactors. Skolds said the company is moving to expand > its nuclear power base, both through efficiencies and acquisitions. > > "Scale is turning out to be a very competitive advantage for us, > if it's effectively leveraged, and I think we are doing that," Skolds > said. > > Including all forms of power generation, Exelon owns or controls > 47,000 megawatts of of capacity across the U.S. > > Exelon has about 60 people based in Kennett Square, Pa., dedicated > to marketing and trading energy. > > The Philadelphia area trading operation was begun by Peco Energy > Co. in 1994, and now is part of Exelon, which is the product of the > merger of Peco and Unicom Corp., ComEd's former parent. > > Unicom also had a small trading operation, which has been combined > with Peco's. > > In 2000, Peco's trading operation reported $2.7 billion in > revenues, up from $2.3 billion in 1999, according to a company > spokesman. > > Last year, Exelon began trading financial instruments that are > energy related, such as energy futures and derivatives, which > traditionally have been the turf of companies such as Dynegy and > Enron Corp. > > "Our goal is simply to be the world's best power marketer," Cornew > said. "Our name doesn't come up right now when people talk about > that. But I believe we have the best platform to achieve that." > > Peggy Jones, managing director of utilities research at Blaylock & > Partners in New York, said Exelon's goal appears to be achievable. > > "They have the financial resources, the management resources and > power generation resources to do the job." > > Jones noted that Exelon's market capitalization of $21.3 billion > tops Dynegy's $15.9 billion. > > > > Folder Name: power trading > Relevance Score on Scale of 100: 95 > > ______________________________________________________________________ > > To review or revise your folder, visit http://www.djinteractive.com or contact Dow Jones Customer Service by e-mail at custom.news@bis.dowjones.com or by phone at 800-369-7466. (Outside the U.S. and Canada, call 609-452-1511 or contact your local sales representative.) > ______________________________________________________________________ > > Copyright (c) 2001 Dow Jones & Company, Inc. All Rights Reserved >