UtiliCorp changes name to Aquila Inc.

KANSAS CITY, Mo., March 18, 2002 -- UtiliCorp United announced Monday that it has changed its name to Aquila Inc. Starting Monday, the company's common stock trades on the New York, Pacific and Toronto stock exchanges under the symbol ILA, which has replaced the UtiliCorp symbol UCU.

In addition to announcing its new name, Aquila is launching a new brand through a series of communications and advertisements targeted to customers, community leaders and other external audiences.

"Aquila has successfully managed through change for nearly two decades and has emerged a far stronger competitor," said Chairman Richard C. Green, Jr. "Our new brand signifies the company's pledge to channel its expertise as a master of change to create products and services that help customers and clients use change as a positive catalyst for growth."

"The uncertainty in today's environment makes it much more difficult for companies to know how to respond to change," said Robert K. Green, Aquila's president and chief executive officer. "Our portfolio of energy and risk management products and services can help create certainty in an uncertain world."

The kaleidoscope symbol in the new Aquila logo represents the "endless array of solutions we make available by combining the skills and talent of Aquila's people," he explained. "We'll be using that message to help differentiate Aquila in the energy marketplace."

Last November, UtiliCorp announced it would change its corporate name to Aquila following the successful completion of an exchange offer for all outstanding publicly held common shares of its 80 percent-owned subsidiary. Completion of the exchange offer in January 2002 and recent receipt of regulatory approvals cleared the way for the company to proceed with the name change.

Adoption of the Aquila name reflects the strategic focus of the recombined company. "The combination of stable cash flows from the company's network business and superior risk management and wholesale energy expertise in the merchant business position Aquila to emerge as one of the industry's premier leaders," said Robert Green.

The wholesale energy trading and risk management business is now Aquila Merchant Services and the company's regulated electric and natural gas utilities in the United States operate under the name Aquila Networks. UtiliCorp Networks Canada, which distributes electricity in Alberta and British Columbia, will transition to the name Aquila Networks Canada by the end of this year.

The company's wholesale energy subsidiary has operated under the Aquila name since 1991. Aquila is the name of a constellation and is Latin for "eagle."

There is no need for holders of UtiliCorp common stock certificates to exchange their existing shares for Aquila shares, as the existing UtiliCorp certificates will continue to be valid.

Based in Kansas City, Aquila (formerly UtiliCorp United) is an international energy and risk management company. It is one of the largest wholesalers of electricity and natural gas in North America, provides wholesale energy services in the United Kingdom and has a presence in Germany and Scandinavia. It also operates electricity and natural gas distribution networks in seven states and in Canada, New Zealand and Australia. At December 31, 2001, Aquila had total assets of $11.9 billion and 12-month sales of $40.4 billion. More information is available at www.aquila.com.

Sponsored by FLSmidth

Related Articles

Vermont Yankee nuke owner says fuel removed from reactor

The owner of the Vermont Yankee nuclear power plant says the fuel has been removed from the reactor and placed in the spent fuel pool.

UK gov’t to take over Sellafield nuclear cleanup project

The UK government decided to take back control of clean up operations at the Sellafield nuclear site.

Follow Power Engineering on Twitter
Latest News
NRC to increase oversight of Pilgrim nuclear power plant

NRC to increase oversight of Pilgrim nuclear power plant

The U.S. Nuclear Regulatory Commission (NRC) will increase its oversight of the 670-MW Pilgri...
Kettleman utility-scale solar project providing electricity to Silicon Valley city of Palo Alto

Kettleman utility-scale solar project powering city of Palo Alto

The Kettleman Solar Power Project in Kings County was built on about 264 acres of land on Hig...
Areva delivers reactor vessel head to Belgium nuclear power plant

Areva delivers reactor vessel head to Belgium nuclear power plant

Areva delivered a nuclear reactor vessel head to Electrabel for Unit 4 at the Doel nuclear po...
EPSA files brief with Supreme court on FERC demand response case

EPSA files brief with Supreme Court on FERC demand response case

The Electric Power Supply Association (EPSA) and a number of other parties filed a legal brie...
Southern Power, First Solar co-own California solar PV project

Southern Power, First Solar co-own California solar PV project

Southern Co. (NYSE: SO) unit, Southern Power, acquired a controlling stake in a 300-MW solar ...
EPA to opponents: Wait for the absolutely final Clean Power Plan, then attack

EPA to opponents: Wait for the absolutely final Clean Power Plan, then attack

Responding to an Aug. 13 notice of appeal from several states, including coal-reliant West Vi...
Global nuclear plant life extensions to decrease sixfold by 2025

Global nuclear plant life extensions to decrease sixfold by 2025

The capacity of nuclear power plants starting plant life extension (PLEX) programs will decre...
DOE selects eight projects to receive funding for reducing cost of CO2 capture and compression

DOE selects 8 projects to receive funding for reducing cost of CO2 capture and compression

The U.S. Department of Energy’s (DOE) National Energy Technology Laboratory (NETL) has select...

Power Engineering Current Issue

12/01/2014
Volume 118, Issue 12
1412pe-cover1
Products Showcase
Areva delivers reactor vessel head to Belgium nuclear power plant

Areva delivers reactor vessel head to Belgium nuclear power plant

Areva delivered a nuclear reactor vessel head to Electrabel for Unit 4 at the Doel nuclear power plant in Belgium.

GE announces launch of latest aeroderivative gas turbine, LM6000-PF+

GE announces launch of latest aeroderivative gas turbine, LM6000-PF+

GE is launching its latest aeroderivative gas turbine, the LM6000-PF+, which employs technologies from four GE businesses, bringing power online faster and more efficiently than ever before.

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.

Archived Articles

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

Buyers Guide Categories

Power Industry Wire News

Nine Energy Service Acquires G 8 Oil Tool

Nine Energy Service Acquires G 8 Oil Tool

MCW Energy Group Reports on Production Progress of Its Environmentally-Friendly Oil Sands Extraction Plant in Asphalt Ridge, Utah

MCW Energy Group Reports on Production Progress of Its Environmentally-Friendly Oil San...

Global Well Completion Equipment Market to Grow at a CAGR of 11.45% by 2019: Radiant Insights, Inc

Global Well Completion Equipment Market to Grow at a CAGR of 11.45% by 2019: Radiant In...

Chemical Industry Webinar to Discuss $960 Billion in Potential Spending, an Industrial Info Event Announcement

Chemical Industry Webinar to Discuss $960 Billion in Potential Spending, an Industrial ...

Vantage Drilling Company Receives Notice of Drilling Contract Termination

Vantage Drilling Company Receives Notice of Drilling Contract Termination

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 >>