BETHESDA, Md., Sept. 5, 2000 PG&E Corp.’s National Energy Group has announced a 10-year tolling agreement with DTE Energy Services (DTEES).
The alliance gives PG&E National Energy Group marketing control of its first generation asset in the Midwest power market. Under the terms of the agreement, PG&E National Energy Group’s subsidiary, PG&E Energy Trading-Power L.P., has contracted with DTEES for long-term capacity rights at DTEES’s 160 MW natural gas-fueled Georgetown peaking facility, located in suburban Indianapolis. The facility began commercial operation June 1, 2000.
“This partnership gave us a timely entrance into the region’s power market. With restructuring gaining a foothold in Michigan, and legislation moving forward elsewhere in the region, PG&E National Energy Group is poised to create tremendous value for customers through both its marketing and generation arms,” said Sarah Barpoulis, PG&E National Energy Group senior vice president, trading, referring to the tolling agreement and the company’s planned merchant generation projects.
Peter Greenberg, vice president of marketing, eastern region, added, “As a leading generation asset owner and marketer in the East, we bring reliability and credibility with us. Consumer confidence is increased as additional capacity is made available to meet peak demands. We’re pleased to formalize this agreement with DTE Energy Services and look forward to a successful relationship.”