Cinergy, Convergent Group Form Financial, Strategic Alliance

The phase I investment of $10 million, now complete, will be supplemented by a phase II investment at the company’s IPO date at a discount to the IPO price, according to Cinergy. Concurrently, Cinergy has engaged Convergent Group to co-develop and implement a multi-tiered program focusing on customer service through which Cinergy will use the Internet to more effectively compete in the changing marketplace for energy.

AUSTIN– Servana, an Internet company focused on delivering solutions specifically designed for gas and electric utilities, will partner with Southern Union Gas (SUG) to offer Internet Bill Payment and Presentment (IBPP) services to SUG’s Texas customers beginning Sept. 1, 2000.

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