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
GE names two to leadership positions GE Power & Water Global Research

GE names two to leadership positions

GE (NYSE: GE) announced the appointment of two new company officers.

Preferred bidders picked for new UK nuclear power project

EDF Energy announced more preferred bidders for construction of the Hinkley Point C nuclear p...

Nuclear unit returns to service after water leak repaired

The 600-MW Fort Calhoun nuclear power plant in Nebraska was returned to full power after a le...

Exxon profit falls by half but production rises

Exxon Mobil Corp. profit dropped by half in the second quarter on sharply lower oil and gas p...

NY to give low-cost electricity to Amazon, Bausch & Lomb

New York state is giving low-cost electricity to 15 businesses around the state as part of a ...
TEPCO executives face charges in Fukushima accident

3 ex-TEPCO execs to face criminal charges

A Japanese judicial committee has decided that three former utility executives should face cr...
07/29 Henry Hub Average Natural Gas Spot Prices

07/29 Henry Hub Average Natural Gas Spot Prices

The Henry Hub is the pricing point for natural gas futures contracts traded on the New York M...

GE wind turbines to power British Columbia’s largest wind farm

GE today confirmed it will supply Pattern Development with 61 wind turbines for its 180-megaw...

Power Engineering Current Issue

12/01/2014
Volume 118, Issue 12
1412pe-cover1
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.

Archived Articles

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

Buyers Guide Categories

Power Industry Wire News

Vantage Drilling Company Schedules Second Quarter 2015 Earnings Release Date and Conference Call

Vantage Drilling Company Schedules Second Quarter 2015 Earnings Release Date and Confer...

EnerJex Resources Declares Monthly Cash Dividend on 10% Series A Preferred Stock

EnerJex Resources Declares Monthly Cash Dividend on 10% Series A Preferred Stock

FX Energy Schedules Second Quarter 2015 Financial and Operating Results Conference Call

FX Energy Schedules Second Quarter 2015 Financial and Operating Results Conference Call

Scorpio Bulkers Inc. Announces Purchase of 1,050,000 Common Shares by Scorpio Service Holdings Limited

Scorpio Bulkers Inc. Announces Purchase of 1,050,000 Common Shares by Scorpio Service H...

Magellan Petroleum Regains Compliance With NASDAQ Listing Requirements

Magellan Petroleum Regains Compliance With NASDAQ Listing Requirements

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 >>