PURCHASE, N.Y., July 16, 2002 — NewPower Holdings Inc. Monday announced that a bankruptcy court has approved the sale of NewPower’s customer portfolios to the successful bidders.
The sale of NewPower’s natural gas customers in Georgia to Southern Company will proceed as previously announced. Substantially all of NewPower’s natural gas customers in Ohio and Pennsylvania will be sold to Energy America LLC, a subsidiary of Centrica plc, whose bid exceeded that of the previously announced asset purchase agreement with Vectren Source.
In addition, Dominion Retail, Inc. and Interstate Gas Supply, Inc. were also successful bidders for some of NewPower’s remaining natural gas and electric customers in Ohio, Pennsylvania and Michigan.
The Bankruptcy Court further approved the turn back of customers not subject to these transactions to local utilities or the Provider of Last Resort as appropriate.
About NewPower Holdings, Inc.
NewPower Holdings, Inc. through The New Power Company, is the first national provider of electricity and natural gas to residential and small commercial customers in the United States. The Company offers consumers in restructured retail energy markets competitive energy prices, pricing choices, improved customer service and other innovative products, services and incentives.