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- Subject: the new power company
- the new power company , the first national residential and small business
- energy service provider in deregulated
- markets was launched today with strategic investors and partners including
- enron , ibm and america online .
- h . eugene lockhart has been named president and chief executive officer of
- the company . he was formerly president
- of at & t consumer services and chief marketing officer of at & t , as well as
- president of bank america ' s global retail
- bank and president and ceo of mastercard international . lockhart is joined
- by a number of high - level executives from
- the telecommunications and financial services sectors as well as several
- former enron executives specializing in energy
- commodity pricing , marketing , risk management and government regulatory
- affairs .
- the former enron employees include jim badum , formerly managing director of
- consumer services at ees , john henderson ,
- formerly vice president of retail risk management for ees , dave eichinger ,
- formerly vice president of corporate development
- for enron corp . , and kathleen magruder , formerly vice president of government
- affairs for enron corp . lou pai , chairman and
- ceo for ees will serve as non - executive chairman of the new power company .
- enron will provide the new power company with energy commodity pricing , risk
- management , and government /
- regulatory affairs . ken lay is quoted in the news release , " we ' ve studied
- the residential and small business market
- for several years and believe this is the optimal way to provide value to
- these customers . by assisting in setting up
- an independent company , enron is able to leverage its core competencies of
- energy and risk management , while
- partnering with other industry leaders to give the new power company
- extraordinary and immediate depth and
- capability . " ken will also serve on the board of directors .
- the new power company is scheduled to initially provide service in
- pennsylvania and new jersey in the second half
- of 2000 . the company will be headquartered in greenwich , connecticut , with
- some operations in houston .
- for more information , please log onto their website at
- http : / / www . newpowercompany . com .
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