PG&E National Energy Group to own and operate generating plants in Denton, Texas

DENTON, Texas, June 13, 2001 — PG&E Corporation's National Energy Group today announced an agreement with the City of Denton, Texas, to purchase and operate the municipality's electric generating facilities and provide a five-year "full service requirements" wholesale power-supply contract.

Under the agreement, approved last evening by the Denton City Council and Public Utility Board, a subsidiary of the National Energy Group will acquire the 176-megawatt, natural gas-fired Spencer Generating Station, as well as the Lewisville and Ray Roberts Hydro facilities. Plus, over the next five years the National Energy Group, through its power trading subsidiary, will supply wholesale power to meet the city's electricity needs. The City of Denton will continue to distribute power to its customers.

"We're pleased to be able to help the City of Denton meet its power needs during this period of transition to a deregulated market place," said Thomas B. King, president of the National Energy Group's west region.

City of Denton employees at Spencer Station will be offered employment with the National Energy Group in accordance with the terms of the acquisition.

"I think that selling these generation elements and replacing them with a power-purchase contract guarantees ratepayers with stability in the power market over a significant period in the future," said Denton City Council Member Mark Burroughs.

"This agreement marks a new era in our effort to provide Denton residents and businesses with efficient, reliable energy," said Denton utility director Sharon Mays. "The National Energy Group will help us progress smoothly into the deregulated energy environment."

Denton's power facilities will be owned by Spencer Station Generating Company, L.P., and power and energy services will be provided by PG&E Energy Trading - Power, L.P. Both entities are indirect, wholly owned subsidiaries of PG&E National Energy Group, which develops, owns and operates electric generating and gas pipeline facilities and provides energy trading, marketing and risk-management services. The National Energy Group is headquartered in Bethesda, Md., and maintains offices in Houston.

This news release contains forward-looking statements regarding the future performance of PG&E National Energy Group and its businesses. These statements are subject to certain risks and uncertainties that could cause actual results to differ materially.

Some of the factors that could cause actual results to differ materially include: (i) changes in government regulations, including federal and state regulation of the electric energy industry; (ii) commercial operations of plants that may be interrupted or prevented because of various operation risks, such as a failure to obtain or maintain necessary permits or equipment, the failure of third-party contractors to perform their contractual obligations, or an inability to obtain equipment, services or labor on acceptable terms; (iii) development of lower cost generation or supply alternatives; (iv) fluctuations in natural gas and electricity prices and the ability to successfully manage such price fluctuations and other limitations in risk management methods, (v) the risks associated with marketing and selling power in the newly competitive energy market, and (vi) the other risks identified from time to time in PG&E Corporation's reports filed with the Securities and Exchange Commission.

EDITORS: Please do not use "Pacific Gas and Electric" or "PG&E" when referring to PG&E Corporation or its National Energy Group. The PG&E National Energy Group is not the same company as Pacific Gas and Electric Company, the utility, and is not regulated by the California Public Utilities Commission. Customers of Pacific Gas and Electric Company do not have to buy products or services from the National Energy Group in order to continue to receive quality regulated services from Pacific Gas and Electric Company.

Sponsored by FLSmidth

Related Articles

DTE Biomass, Landfill Energy Systems complete 20 MW renewable power plant in California

DTE Energy (NYSE: DTE)'s subsidiary, DTE Biomass Energy, and Landfill Energy Systems formed a joint venture, Sunshine Gas Producers, to complete a 20-MW renewable energy facility at the Sunshine Canyon Landfill in California.

Diablo Canyon nuclear power plant shutdown earthquake Nuclear Regulatory Commission NRC California Pacific Gas & Electric PG&E

Regulators reject call for nuke plant shutdown

A top Nuclear Regulatory Commission official has rejected a federal expert's recommendation to shut down California's last operating nuclear power plant until it can determine whether its reactors can withstand powerful shaking from nearby earthquake faults.

Follow Power Engineering on Twitter

Products Showcase

Dynamic Fluoride Ion cleaning DFIC of industrial natural gas turbines Hi-Tech Furnace Systems

Dynamic Fluoride Ion Cleaning of IGT Parts

The Dynamic Fluoride Ion Cleaning (DFIC) Process from Hi-Tech Furnace Systems is able to clean deep, narrow cracks of oxides by cycling between negative, atmospheric, and positive pressure.

Latest News

Shutterstock coal production trucks

Weekly Coal Production

The Weekly Coal Production shows how much coal is being produced across the U.S.

Federal Reserve Bank of Dallas Weekly Economic Indicators financial business

The Federal Reserve Bank of Dallas' Economic Indicators

The Federal Reserve Bank of Dallas offers a glimpse into how the markets are doing domestical...

Kvaerner awarded contract for gas-fired power plant in Delaware

Kvaerner North American Construction Inc. and its joint venture partner, Parsons Brinckerhoff...

Canadian Solar purchases two solar projects

Canadian Solar Inc. has acquired a majority interest in two utility-scale solar power project...

Operators Restart Unit 2 at PPL Susquehanna

Unit 2 at the PPL Susquehanna nuclear power plant near Berwick, Pa. resumed generating electr...

Settlement agreement limits cost recovery at Edwardsport

The Indiana Utility Regulatory Commission (IURC) on Dec. 27 modified and approved a settlemen...

Toshiba in talks to sell portion of Westinghouse nuclear unit

Toshiba Corp is in talks  to sell up to 16% of its stake in the Westinghouse Electric Co...

Utah nixes nuclear waste storage facility

Plans to park radioactive waste at a storage facility in Utah have been officially called off.

Archived Articles

2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013

Power Engineering Current Issue

10/01/2014
Volume 118, Issue 10
1410pe-cover

Power Industry Wire News

Energy Systems Group Awarded $34.6 Million Contract for Professional Design/Construction Consultant Services at Michigan Department of Corrections Ionia Complex

Energy Systems Group Awarded $34.6 Million Contract for Professional Design/Constructio...

Vega Biofuels Celebrates National Bio-Energy Day by Announcing an Innovative Collaboration in Allendale

Vega Biofuels Celebrates National Bio-Energy Day by Announcing an Innovative Collaborat...

Investment Banks Funding Negotiations for Energy & Technology, Corp.

Investment Banks Funding Negotiations for Energy & Technology, Corp.

Lithium Exploration Group CEO Responds to Shareholder Concerns

Lithium Exploration Group CEO Responds to Shareholder Concerns

Ideal Power Receives Purchase Orders for Over 3.5MW of Its 30kW Battery Converter

Ideal Power Receives Purchase Orders for Over 3.5MW of Its 30kW Battery Converter

Power Engineering

Article Archives for Power Engineering Magazine

Continuing Education

Professional Development Hours

To access a course listing associated to a specific topic listed below, click on the topic of choice from the list below.

Latest Energy Jobs

View more Job Listings >>


Power Engineering Newscasts

EPA chief: carbon caps will boost economy
Australia, Russia enter nuclear power agreement with Argentina
Largest battery energy storage in North America now operational
EPA chief: carbon caps will boost economy Largest battery energy storage in North America now operational Australia, Russia enter nuclear power agreement with Argentina Texas’ Panda Temple combined cycle plant up and running
Siemens agrees to acquire Dresser-Rand
Safety concrete poured at UAE nuclear reactor power project
Foster Wheeler to upgrade natural gas-fired power plant’s emission controls
GE, TransCanada partner on natural gas turbine design
Energy storage global market to grow to $15.6B by 2024; DOE awards $2M to support taller wind turbine towers; Hinkley Point C nuclear project have financial incentives approved; N.J. company building waste-to-energy project in Ireland