May 19, 2003 — Tractebel Energy Services Inc., the retail energy business of Tractebel North America, Inc. (TNA), announced that it will supply retail electric service to certain properties within the portfolio of Crescent Real Estate Equities Co., a publicly held commercial office owner in Texas. Tractebel Energy Services provides retail energy and services to commercial and industrial companies in the US.
Currently licensed to operate in Massachusetts, Maine, New York, and Texas, Tractebel Energy Services will provide approximately 130 megawatts of peak electricity load to 68 buildings owned by Crescent and its subsidiaries and joint venture partners in the Houston and Dallas areas.
“Crescent’s focus is on its customers, on providing them the best in service, and on optimizing efficiencies in every area possible,” said Jane Page, Crescent’s senior vice president of asset management and leasing in the Houston region. “We believe in doing business with people who share that philosophy, and we trust that our agreement with Tractebel will take us a step further in reaching our long-term goals.”
Zin Smati, president and CEO of Tractebel Energy Services said that, with the Crescent agreement, Tractebel now has more than 200 commercial and industrial accounts in the states it serves. “We are pleased to be able to supply a company as prestigious as Crescent with its electricity needs. This agreement is a strong indicator that our services are of interest to companies who seek to better manage their energy costs. Our continued growth reflects the ‘voice’ of customer confidence and it speaks to the type of company we are and the products that we provide,” he said.
Smati added that the company’s goal is to offer customers other energy services and products, including natural gas, which is targeted as the next product to be rolled out in the near future. He also noted that Tractebel Energy Services plans to expand in key markets over the next several months where deregulation is opening up new opportunities. “Electricity & Gas International, the SUEZ business unit that includes Tractebel Energy Services, has a very deliberate, integrated approach to identifying opportunities across the energy value chain. By focusing on the needs of our customers, by treating our customers as our partners, and by keeping long-term profitability as our primary goal, we are confident that we will continue to generate value for our customers.”
Tractebel Electricity & Gas International (EGI) is one of the four business lines of SUEZ (NYSE:SZE), a worldwide industrial and services group which provides innovative solutions in Energy – electricity and gas – and Environment – water and waste services.
EGI offers global solutions in energy and services to customers in North America, the southern cone of Latin America, Southeast Asia and the Middle East. It develops, builds and operates energy facilities both in electricity and gas, including liquefied natural gas (LNG). It transports and distributes natural gas and LNG in several countries outside Europe. EGI is also active as a trader around its assets and as a marketer in electricity and gas, and offers energy related services to industrial and commercial customers.
EGI has a strong presence in its markets with a total power capacity that exceeds 28,000 MW, and a gas transport capacity of 15 billion m3/y. In 2002 EGI sold nearly 69, 000,000 MWh of power, 11.89 billion m3 of gas and more than 60 million tons of steam to industrial and residential customers worldwide.
In 2002 EGI booked a turnover of 3,732 million euros.
In North America, Tractebel currently owns and/or operates a total of 57 power, cogeneration, steam, and chilled-water facilities that produce more than 3,127 MW of electricity generation, 12 million pounds per hour of steam, and 147,000 tons per hour of chilled water. Through its acquisition of Tractebel LNG North America LLC in September 2000, Tractebel owns and operates the only liquefied natural gas (LNG) import facility in Massachusetts.
Crescent Real Estate Equities Company (NYSE:CEI) is one of the largest publicly held real estate investment trusts in the nation and the largest in Texas. Through its subsidiaries and partners, Crescent owns and manages a portfolio of 73 premier office buildings totaling over 29 million square feet primarily located in the Southwestern United States, with major concentrations in Dallas, Houston, Austin and Denver.