Former Enron Energy Services execs form new company

By the OGJ Online Staff

HOUSTON, Jan. 14, 2002 — Former Enron Energy Services executives formed a new company to manage energy risk for small to mid-sized businesses.

Celeren Corp., Philadelphia, will sell risk management energy services and independent power generation services. Thomas Brigger, formerly mid-Atlantic regional manger for Enron Energy Services, a unit of Enron Corp, is Celeren's chief executive officer. Donald Parker, a former mid-Atlantic region director for asset risk management of Enron, is chief operating officer.

Brigger and Parker left Enron Corp. in July to start the company, prior to Enron's Dec. 2 filing for bankruptcy protection, which also included the company's energy services division. Enron recently asked the bankruptcy court for permission to halt deliveries under many of its contracts.

Deregulation has allowed commercial business to purchase electricity and natural gas from a variety of sources at market prices in many regions of the country. Small businesses are subject to greater volatility, Celeren said.

The new company will guarantee long-term fixed energy costs, Celeren said. The products offered include all inconclusive energy products and unbundled services for customers with more complex energy and capital requirements.

The products and services incorporate energy commodity procurement for electricity, natural gas, and fuel oil, energy related asset design, construction, operations, and maintenance service, and capital improvement financing in a bundled package for a specified time period 10-15 years.

Celeren also intends to tackle the electricity conservation market for commercial buildings. It said there are 44,000 small to medium-sized commercial power customers that require efficiency renovation or construction projects.

The company estimated electricity conservation for small and mid-sized business represents about $9 billion in annual revenue potential. The company also offers fee-based development construction and operation of independent power generation facilities.

Other Celeren executives formerly with Enron Energy Services include Mark Wood, vice-president engineering; James Creighton, vice-president construction; and Ram Nathan, vice-president power systems.

Sponsored by FLSmidth
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