Electric Power news briefs, June 1
Enron Energy Services...Quebecor World Inc....Duke Energy Corp....The Boeing Co....New York Mercantile Exchange
Quebecor World Inc. has signed a $1 billion, 10-year energy management agreement with Enron Energy Services under which Energy Services will supply or manage electricity and natural gas at more than 60 US Quebecor World facilities. Enron's original $250 million, 5-year contract was with World Color Press, which was purchased by Quebecor Printing Inc. in August 1999. Under the agreement, Enron will identify, analyze, design, and implement energy infrastructure improvements.
The Boeing Co. and DukeSolutions, Charlotte, NC, a Duke Energy Corp. subsidiary, have signed a 20-year, multimillion-dollar contract under which DukeSolutions will provide energy services at the Boeing Space & Communications facility in Huntington Beach, Calif. Under the agreement, DukeSolutions will own, operate, and maintain centralized plant assets and provide high-temperature hot water, steam, and chilled water services to the facility. DukeSolutions will also complete a modernization of the existing plant over the next 18 months.
The New York Mercantile Exchange raised the margins on its California/Oregon border and Palo Verde electricity futures and on the July and August 2000 Cinergy, Entergy, and Pennsylvania-New Jersey-Maryland electricity futures contracts as of the close of business Wednesday. Margins on California/Oregon border and Palo Verde electricity futures will be increased to $3,300 from $2,000 for clearing members; to $3,630 from $2,200 for members; and to $4,455 from $2,700 for customers. Margins for Cinergy, Entergy, and Pennsylvania-New Jersey-Maryland will be raised to $10,000 from $7,000 for clearing members; to $11,000 from $7,700 for members; and to $13,500 from $9,450 for customers. Margins on spreads involving the July or August 2000 contracts will be increased to $8,400 from $5,400 for clearing members; to $9,240 from $5,940 for members; and to $11,340 from $7,290 for customers. Margins on spreads between all other months will remain unchanged.