CORP. / Houston Industries sets up shop in Calgary
Houston Industries Wholesale Energy Group Expands into Canadian Market
HOUSTON--(BUSINESS WIRE)--Oct. 14, 1998--Charles Oglesby, chief executive officer of Houston Industries Wholesale Energy Group, announced today the formation of a new regional marketing office in Calgary, Alberta, Canada.
''Houston Industries is expanding its reach,'' states Oglesby, ''as we continue to enhance our position as a comprehensive North American energy player. We look forward to establishing long-term relationships in the Canadian marketplace.''
The opening of the Calgary office is an additional step in HI's plan to expand their presence in the wholesale energy industry. ''We believe a Canadian presence is critical for success in today's energy industry as Canadian imports become more of a market influence,'' agrees Joe Bob Perkins, president and chief operating officer of HI Wholesale Energy Group.
The Wholesale Energy Group provides power generation, trading and transportation, and wholesale energy marketing capabilities to the marketplace. The Group represents 17,800 MW of generating capacity and 1,400 MW of projects under construction or development as well as 8,200 miles of interstate natural gas pipeline and 4,000 miles of gathering pipeline. Wholesale trading volumes total 4.0 Bcf per day of natural gas and 80 million megawatt-hours of electricity annually, making the company a top 10 marketer in both natural gas and power.
Oglesby also announced today the appointment of Michele McKenzie as Director in the Calgary office located in the Canada Trust Tower at 421 7th Avenue SW, Suite 1510, Calgary, AAB, Canada T2P 4K9; telephone 403/294-9110.
HI Wholesale Energy Group parent company, Houston Industries Incorporated, headquartered in Houston, is a diversified international energy services company. Its businesses are organized into two business groups -- HI Wholesale Energy Group and HI Retail Energy Group. With nearly 4 million electric and natural gas customers in the United States, HI is one of the top five combination gas and electric companies in the nation. The company also has ownership interests in international utilities serving more than 9 million customers. HI provides unregulated retail energy services, invests in unregulated power generation projects, and is a major interstate natural gas pipeline and energy services company providing gas transportation, supply, gathering and storage as well as wholesale natural gas and electricity marketing services.
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Contact:
Houston Industries Wholesale Energy, Houston
Media: Wanda Anglin, 713/207-5209
or
Investors: Randy Burkhalter, 713/207-3115
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