---------------------- Forwarded by Christopher Watts/NA/Enron on 04/05/2001 
05:29 PM ---------------------------


"Chris Watts" <cwatts3@houston.rr.com> on 04/05/2001 03:59:06 PM
To: <christopher.watts@enron.com>
cc:  

Subject: Fw: power trading: EXELON TO PUSH MARKETING, TRADING    COMED PARENT 
WILL LEVERAGE POWER ASSETS


----- Original Message -----
From: <djcustomclips@djinteractive.com>
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
>
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