BERLIN, Conn., Jan. 31, 2002 – Select Energy announced today it has been designated to provide more than 350 megawatts of peak-load electric supply to non-residential customers in Maine. Under an order issued by the Maine Public Utilities Commission, Select Energy will supply full-requirements power to large and medium-size commercial and industrial customers on standard offer service in the state. Revenues to Select Energy are roughly $90 million for the one-year period beginning March 1, 2002.
“Favorable pricing and our proven reliability enabled us to compete for and win this major wholesale supply contract serving Central Maine Power and Bangor Hydro-Electric customers,” said Frank P. Sabatino, Select Energy’s senior vice president of power marketing.
“In New England, we now serve approximately 4,000 megawatts of peak-load power and are continuing to expand our wholesale energy business throughout the Northeast,” Sabatino added. Late last year, Select Energy won a wholesale electric contract to supply Boston-based NSTAR’s default service for industrial customers throughout 2002.
As a retail energy provider, Select Energy was chosen by Competitive Energy Services LLC (CES) as its preferred supplier for the Maine Electric Consumer Cooperative which provides electricity to over 400 companies and institutions. During 2002, Select Energy expects to serve roughly 100 megawatts of customer load from that aggregation. Select Energy has a similar retail electricity agreement to supply CES as it seeks to expand its customer base in Massachusetts.
Select Energy Inc. is the competitive energy marketing and services subsidiary of Northeast Utilities (NYSE: NU – news). Select Energy provides electricity, natural gas and energy services to business and institutional customers throughout the 12 northeastern states from Maine to Virginia. Headquartered in Berlin, Connecticut, Select Energy’s 2001 revenues totaled approximately $3 billion. More information about the company can be found on the Internet at www.selectenergy.com