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The New Power Company Challenges Green Mountain Energy
PR Newswire, 10/30/00 New Power Says Green Mountain Claim 'Completely False' Dow Jones News Service, 10/30/00 Speculation Swirls On Gore, Bush Energy Cabinet Posts Dow Jones International News, 10/30/00 Guessing the new Cabinet while Gore, Bush campaign Associated Press, 10/30/00 XL Capital Creates Weather-Risk Reinsurer Best's Insurance News, 10/30/00 Finalists for 2000 FT Energy Global Awards Announced PR Newswire, 10/30/00 Thinking ASP? Don't Forget Security! Computerworld, 10/30/00 The New Power Company Challenges Green Mountain Energy 10/30/2000 PR Newswire (Copyright © 2000, PR Newswire) GREENWICH, Conn., Oct. 30 /PRNewswire/ -- The New Power Company (NYSE: NPW) characterized as "completely false" the October 23 contention of Green Mountain Energy Company that PECO did not negotiate in good faith with regards to its award of its "Competitive Default Customers" to The New Power Company. The New Power Company filed its response to Green Mountain's October 23 protest of the contract award to New Power on Monday October 30. New Power's filing described the PECO bidding process and how New Power submitted its winning bid within the bidding period established by PECO in its RFP. By contrast, Green Mountain only submitted its current bid 12 days after the bidding deadline and nine days after it was informed that its higher priced bid had not been selected and PECO and The New Power Company had begun negotiating the CDS Agreement. In its protest to Green Mountain's October 23 filing, PECO confirmed that Green Mountain submitted its untimely "revised" bid nine days after PECO had selected the New Power bid. PECO explained that Green Mountain only underbid New Power after it learned it had lost the award. H. Eugene Lockhart, president and chief executive officer of The New Power Company said, "We were awarded this contract fairly, following all proper and specified procedures. We were selected because we submitted the best price and because we agreed to satisfy the renewable power source requirement required in PECO's RFP. Green Mountain's position is completely misleading. Green Mountain is trying to change the rules of the game after the game is already over." The New Power Company is fully confident that the Pennsylvania Public Utility Commission will resolve this matter in its favor. The New Power Company was formed in May 2000 to provide electricity and natural gas directly to households and small businesses in the deregulated energy marketplace. The company draws on the expertise, experience and market strength of such industry leaders as IBM, AOL and Enron to bring savings and efficiencies to energy consumers. /CONTACT: Gael Doar, Director of Corporate Communications, 203-531-0400/ 15:26 EST Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved. New Power Says Green Mountain Claim 'Completely False' 10/30/2000 Dow Jones News Service (Copyright © 2000, Dow Jones & Company, Inc.) GREENWICH, Conn. -(Dow Jones)- New Power Co. (NPW) called "completely false" a claim by Green Mountain Energy Co. that Peco Energy Co. unfairly excluded Green Mountain and an unnamed third bidder from the second round of bidding for a 300,000 of Peco's residential retail electric customers. In a press release Monday, New Power said it filed the response to Green Mountain's Oct. 23 protest of the contract awarded to New Power on Oct. 30. New Power said Green Mountain submitted its bid 12 days after the deadline and nine days after it was informed that its previous bid hadn't been selected. New Power said it is "confident" the Pennsylvania Public Utility Commission will resolve the matter in its favor. Last Wednesday, the commission agreed to review the dispute over the contract award. New Power is an online retailing venture formed in May by Enron Corp. (ENE), America Online Inc. (AOL) and International Business Machines Corp. (IBM). -Jason Overdorf; Dow Jones Newswires; 201-938-5400 Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved. Speculation Swirls On Gore, Bush Energy Cabinet Posts 10/30/2000 Dow Jones International News (Copyright © 2000, Dow Jones & Company, Inc.) WASHINGTON (AP)--While the rest of the country waits to see who will be the next U.S. president, speculation in Washington has already turned to likely Cabinet members responsible for energy and environmental issues. For the most part, Vice President Al Gore and Gov. George W. Bush are keeping their own counsel on likely Cabinet members in prospective Democratic and Republican administrations. But from sources in and out of government some possible choices have emerged. For Gore, one name mentioned for secretary of energy is Sen. Richard Bryan, D-Nev., with longer odds seen for two others: Tom Grumbly, who formerly headed a nuclear weapons cleanup effort at the Energy Department, and Deputy Energy Secretary T.J. Glauthier. For Bush, possible picks include Tom Kuhn, a buddy from Yale and head of the Edison Electric Institute, and Kenneth Lay, 1996 Republican convention chairman and chairman of the giant gas and energy concern Enron Corp. (ENE) Another possible Republican pick for Energy would be Montana Gov. Marc Racicot, a leading spokesman on land issues in the West. Racicot may be a more likely pick for top job at the Interior Department. But if Sen. Slade Gorton, R-Wash., loses his race for re-election, Bush might tap him for Interior. On the Gore side, speculation about Interior is all over the lot. There's Oregon Gov. John Kitzhaber; former Colorado Gov. Roy Roemer, who now runs the Los Angeles school system; Sen. Bryan; George Frampton, acting head of the White House Council on Environmental Quality and former Wilderness Society director, and former Colorado Sen. Tim Wirth. Bush's director for the Environmental Protection Agency might be David Struhs, a moderate in the minds of environmentalists who directs the Florida Department of Environmental Protection. Two more-conservative prospects are Chris DeMuth, a regulatory expert at the American Enterprise Institute, and Russell Harding, head of Michigan's Department of Environmental Quality. For Gore, a front-runner appears to be Kathleen McGinty, former head of the Council on Environmental Quality under Clinton. Another possibility is Maryland Gov. Parris Glendening, stepping aside to elevate Lt. Gov. Kathleen Kennedy Townsend. Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved. Guessing the new Cabinet while Gore, Bush campaign By DEB RIECHMANN Associated Press Writer 10/30/2000 Associated Press Newswires Copyright 2000. The Associated Press. All Rights Reserved. WASHINGTON (AP) - While the rest of the country waits to see who will be the next president, in this city - where politics is both vocation and avocation - a lot of the speculation is about who will be in the next Cabinet. The top economic post? For treasury secretary, George W. Bush could pick former Federal Reserve member Lawrence Lindsey, who has been traveling on some of Bush's campaign trips. Or someone from Wall Street. Al Gore might well keep the incumbent secretary, Lawrence Summers, in hopes of keeping the economy thriving. If Bush wins, Wisconsin Gov. Tommy Thompson or the school superintendent from Houston back home in Texas could wind up in his Cabinet - along with a handful of people who served in his father's administration. If Gore wins, newcomers could include the mayor of Detroit or the governor of Maryland, or North Carolina, or Delaware - but with many positions going to familiar faces from the Clinton administration. And whichever man wins, the job running the Department of Agriculture could go to the same person - veteran Texas Rep. Charles Stenholm, who is in danger of losing his seat to redistricting. Richard Holbrooke, with a foreign policy resume stretching back to Vietnam and Lyndon Johnson, is the frequently heard choice for secretary of state in a Gore administration. And everyone - even Bush, it seems - expects Colin Powell to get that job in a Bush administration. On the campaign trail, Bush introduces the former chairman of the Joint Chiefs of Staff as "a man who used to be in government, and if all goes well, well. ..." Holbrooke, who is ambassador to the United Nations, isn't a sure thing for a Gore Cabinet. Speculation also includes former Senate Majority Leader George Mitchell and former Indiana Rep. Lee Hamilton, who was chairman of the House Foreign Affairs Committee. For the most part, the presidential candidates are keeping their own counsel on their likely Cabinet members. They may be the only people who are. From sources in and out of government, these are some possible choices: FOREIGN POLICY: In addition to Holbrooke, Mitchell or Hamilton at State, conventional wisdom has Gore's foreign policy adviser, Leon Fuerth, as a shoo-in for national security adviser. Joining Powell at the top of foreign policy under Bush would be Stanford University scholar Condoleezza Rice as national security adviser. She served in President Bush's White House. DEFENSE: Frequently mentioned for the Pentagon in a Bush administration: Paul Wolfowitz, Richard Perle and Richard Armitage. Of the three, Armitage has been the most active in the Bush campaign, traveling with the candidate on trips when the candidate touches on defense policy. Wolfowitz, dean of international studies at Johns Hopkins University, was undersecretary of defense for policy when Dick Cheney, Bush's running mate, was defense secretary. Perle, defense braintruster at the American Enterprise Institute, was assistant defense secretary during the Reagan administration. Armitage was ambassador to the newly independent Soviet states and he served at State and Defense under President Bush. A possible Gore Pentagon chief, former Sen. Sam Nunn, D-Ga., was chairman of the Senate Armed Services Committee. Secretary of the Navy Richard Danzig, who served in Jimmy Carter's Pentagon, is another possibility. TREASURY: Should Gore win, Summers could stay on. Other names being floated: William Daley, secretary of commerce in the Clinton administration and head of Gore's campaign, former Fannie Mae chairman Jim Johnson and Steve Rattner, a Democratic contributor who is a partner in a private equity firm, Quadrangle Group. Bush's most prominent economic adviser has been Lindsey, who was appointed to the Federal Reserve Board by Bush's father. Lindsey has been on many recent Bush campaign trips. A name heard on Wall Street is Donald Marron, who runs the PaineWebber brokerage house. John Cogan, a Stanford University economist and policy adviser to Presidents Reagan and Bush, also is said to be in the running. Cogan also has accompanied the Texas governor on campaign swings. JUSTICE: If Gore wins, some former Justice Department officials think the next attorney general could be Charles Burson, former Texas attorney general and the vice president's current chief of staff. Other contenders are Eric Holder, the current deputy attorney general, and Detroit Mayor Dennis Archer, a former Supreme Court justice in Michigan. Still other names are Gore's brother-in-law Frank Hunger, formerly an assistant attorney general; former deputy attorney general Jamie Gorelick, now vice chairman at Fannie Mae, and Walter Dellinger, former solicitor general. Often mentioned for Bush is Oklahoma Gov. Frank Keating, who was No. 3 at Justice during Bush's father's administration; Sen. Judd Gregg, R-N.H., who helped Bush prepare for his debates, and Sen. John Ashcroft, R-Mo., should he lose his re-election bid. HEALTH AND HUMAN SERVICES: Current Secretary Donna Shalala appears headed for a university post but is the choice of some women's advocates for White House chief of staff under Gore. If Gore wins, Surgeon General David Satcher could be given HHS. He's a former director of the Centers for Disease Control and Prevention in Atlanta. Other names: Leon Panetta, former White House chief of staff and President Clinton's former budget director; Alice Rivlin, also a former Clinton budget director and Federal Reserve Board member; David Kessler, former administrator of the Food and Drug Administration, and Nancy-Ann Min DeParle, former administrator of the Health Care Financing Administration, which oversees Medicare and Medicaid. One other name is former Rep. Tom Downey, D-N.Y., a Gore campaign aide. If Bush wins, American Red Cross president Bernadine Healy is a possible choice. President Bush appointed her to head the National Institutes of Health. Two others: Gail Wilensky, who helped craft Bush's Medicare prescription drug plan and directed health care financing in his father's administration, and Bill Roper, dean of the School of Public Health at the University of North Carolina and a former director of the CDC. EDUCATION: A Bush possibility is Rod Paige, superintendent of the Houston Independent School District who has appeared with Bush to talk about education in Texas. Another is Wisconsin Gov. Tommy Thompson, chairman of the National Education Goals Panel. (His experience with welfare reform could make him a pick for secretary of health and human services as well.) Other Bush possibilities: Pennsylvania Gov. Tom Ridge, Colorado Gov. Bill Owens and Lisa Graham Keegan, Arizona's superintendent of public instruction, a staunch supporter of charter schools and vouchers. Also, a possible Democrat in Bush's cabinet: former Dallas Democratic Party chairman Sandy Kress, who has been an informal adviser. Figuring in the Gore speculation are North Carolina Gov. Jim Hunt, who is seen as a conciliator respected in both parties, Delaware Gov. Tom Carper and White House domestic policy adviser Bruce Reed. AGRICULTURE: Rep. Stenholm, a conservative Democrat who could lose his seat when Texas is redistricted, is being mentioned in both political camps. Other Bush possibilities include Ann Veneman, former agricultural commissioner in California and a senior Agriculture Department official in the Bush administration; Sen. Conrad Burns, R-Mont., and Charles Kruse, a Missouri farmer and former state agriculture commissioner. Other names on the Gore side: Rep. Cal Dooley, D-Calif.; Rep. Gary Condit, D-Calif., and two Agriculture Department undersecretaries, August Schumacher Jr. and Jill Long Thompson. COMMERCE: Insiders were at a loss to name prospective GOP candidates, saying more visible Cabinet posts would have to be decided first. If Gore is elected, Norman Mineta, the first Asian-American member of the Cabinet, might be asked to stay on. Or Labor Secretary Alexis Herman might move over. The names of top fund-raisers Peter Knight and Terry McAuliffe also are being mentioned. EPA: Bush's EPA director might be David Struhs, a moderate in the minds of environmentalists who directs the Florida Department of Environmental Protection. Two other, more conservative, prospects: Chris DeMuth, a regulatory expert at the American Enterprise Institute, and Russell Harding, head of Michigan's Department of Environmental Quality. For Gore, a front-runner appears to be Kathleen McGinty, former head of the Council on Environmental Quality in the Clinton White House. Another possibility is Maryland Gov. Parris Glendening, stepping aside to elevate Lt. Gov. Kathleen Kennedy Townsend. INTERIOR: On the Gore side, speculation is all over the lot. There's Oregon Gov. John Kitzhaber; former Colorado Gov. Roy Roemer, who now runs the Los Angeles school system; Sen. Richard Bryan of Nevada; George Frampton, acting head of the White House Council on Environmental Quality and former director of the Wilderness Society, and former Colorado Sen. Tim Wirth. For Bush, bets are on Montana Gov. Marc Racicot, who has been a leading spokesman on land issues in the West. If Sen. Slade Gorton loses his race for re-election in Washington, however, Bush might tap him. ENERGY: If Gorton gets Interior, Racicot might end up at Energy. Other possible Bush picks include Tom Kuhn, a buddy from Yale and head of the Edison Electric Institute, and 1996 GOP convention chairman Kenneth Lay, chairman of the giant gas and energy company, Enron. For Gore, one name mentioned is Bryan, the Democratic senator from Nevada. There are longer odds for two others, Tom Grumbly, who formerly headed a nuclear weapons cleanup effort at Energy, and Deputy Energy Secretary T.J. Glauthier. Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved. XL Capital Creates Weather-Risk Reinsurer 10/30/2000 Best's Insurance News Copyright 2000 © A.M. Best Company, Inc. All Rights Reserved. HAMILTON, Bermuda (BestWire) - XL Capital Ltd. formed a new reinsurance unit to provide weather-risk-management insurance, reinsurance and financial products. The new unit, Element Re, will offer noncatastrophic weather risk-mitigation products designed to protect against the negative impact that normal weather fluctuations can have on the financial performance of companies in a variety of industries, XL Capital said in a statement. Element Re will be led by Chief Executive Jeffrey Bortniker and Lynda Clemmons, president and chief operating officer. "Until now, businesses have had a limited choice in terms of how they managed their weather-related risk," Bortniker said. "To date, derivatives have been the primary mechanism. We have identified a growing demand for weather protection in insurance form--something that is more appealing to corporations around the world." Clemmons added that the primary market for weather-related-risk-management products is expanding beyond the traditional customers, such as energy and utility companies, to include agriculture, construction, retail, transportation and entertainment. Element Re is one example of the movement by traditional property/casualty reinsurers into new markets, in response to declining demand for traditional reinsurance and new competitors (BestWire, Oct. 23, 2000). A recent report from insurance consultant Conning & Co., "Property-Casualty Reinsurance: Developing the Next Frontier," said demand for traditional property/casualty reinsurance will continue to decline for the next five years as primary insurers consolidate, grow bigger and improve their ability to manage their own exposures. The Conning study found that traditional reinsurers have been hurt by lack of demand, which sparked price competition to retain market share. As a result, many reinsurers are exploring alternative markets to expand their businesses. Element Re's risk management team previously formed the core of the weather derivatives group at Enron North America, an energy company. Element Re Advisors Inc., Element Re Capital Products Inc. and Element Reinsurance Ltd. are subsidiaries of XL Capital Ltd., a provider of insurance and reinsurance coverage and financial products to industrial, commercial and professional services firms, insurance companies and other enterprises worldwide. The financial strength of XL Capital Ltd. is rated A+ (Superior) by A.M. Best Co. (By David Pilla, associate editor, BestWeek: David.Pilla@ambest.com) Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved. Finalists for 2000 FT Energy Global Awards Announced 10/30/2000 PR Newswire (Copyright © 2000, PR Newswire) BOULDER, Colo., Oct. 30 /PRNewswire/ -- Financial Times Energy (FT Energy) has announced the finalists in all 13 categories of the FT Energy Global Awards. The companies listed below have been nominated as leading the way in their respective categories. The winners will be announced at a gala celebration sponsored by Deloitte Touche Tohmatsu November 30, 2000 at the Sheraton New York Hotel and Towers. For reservations or details, visit www.fte-awards.com, or call FT Energy toll-free within the US at 800-424-2908, direct at 720-548-5700, or toll-free within the UK at (0) 800-169-3773, direct at 207-896-2241. Most Promising Pre-Commercial Technology Development Aspen Systems Corporation Fuelcell Energy Inc. Innogy Sage Systems, Inc. Urenco (Capenhurst) Limited Most Innovative Commercial Technology Development ABB Capstone Turbine Corporation Catalitica Combustion Systems, Inc. Fortum Energy House Ltd. Silicon Energy Corporation Best Community Service Program Los Angeles Department of Water and Power Memphis Light Gas & Water MidAmerican Energy Sacramento Municipal Utility District ScottishPower plc Best Overall Marketing Campaign Centrica plc Los Angeles Department of Water and Power PT Adaro Indonesia Southern Company Energy Marketing Utility.com Best Environmental Practice DuPont ISG Resources, Inc. Los Angeles Department of Water and Power Sydkraft AB Boldest Successful Investment Decision EnronOnline National Grid Company plc PowerGen plc ScottishPower plc Boldest Strategic Merger Calpine Corporation Dominion Resources E.ON AG PECO Energy Company Best Renewables Company Energia Hidroelectrica de Navarra Hydro-Quebec National Wind Power Verbund AG Xcel Energy Inc. Best Coal Company Anglo Coal AT Massey Coal Company, Inc. Glencore International AG Peabody Group PT Adaro Indonesia Best Oil and Gas Company ATP Oil & Gas Corporation BG Group plc Shell Oil Company Tyumen Oil Company Best Electricity Company AES Corporation Calpine Corporation Electricite de France ScottishPower plc TXU CEO of the Year Peter Cartwright, Calpine Corporation A.W. "Bill" Dahlberg, Southern Company Kenneth L. Lay, Enron Corporation Richard B. Priory, Duke Energy Corporation David L. Sokol, MidAmerican Energy Holding Company Energy Company of the Year Enron Corporation Duke Energy Corporation Reliant Energy Southern Company Tractebel S.A./N.V. /CONTACT: Jim Keener of FT Energy, 720-548-5624, jkeener@ftenergy.com/ 11:09 EST Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved. Biz - Managing Thinking ASP? Don't Forget Security! Before you sign a contract with an ASP, don't forget to scrutinize its commitment to keeping your organization's data secure. By Deborah Radcliff Deborah Radcliff 10/30/2000 Computerworld 58 (Copyright 2000 by Computerworld, Inc. All rights reserved.) If the rapid convergence of business and the Internet isn't enough of a security threat, there's now a new bugaboo keeping information technology managers up at night: application service providers (ASP). "You've now got a third party responsible for the integrity, confidentiality and availability of your data," says Pete van de Gohm, director of information asset protection at Enron Energy Services Inc. in Houston. Once an organization has handed its applications over to a third party, its biggest concerns include who's handling and accessing that data and what guards the connections from the outside, says Amit Yoran, CEO of RipTech Inc., a security services firm in Alexandria, Va. "ASP users are worried about the connectivity from the customer to the ASP and how that's protected from the Internet," he says. While ASPs say they won't offer any guarantees, many put standard security offerings in their contracts, such as firewalling and traffic monitoring. But those who want to earn the business of the Fortune 1,000 companies are also agreeing to contracts with specified custom security requests for additional fees, such as scanning the content of incoming mail, setting up and maintaining virtual private networks or managing firewall and intrusion detection services. "Some ASPs are looking at the big picture," says Mitchell Hryckowian, senior director of security and infrastructure at Interliant Inc., an ASP in Purchase, N.Y. Interliant, for example, appends its contracts with a security clause to provide basic traffic monitoring services. In addition, high-end customers can demand -- and receive -- customized security services be added to their contracts. The Threat Tony Parziale, chief technology officer at online fashion retailer Folded Edge Inc. in Duluth, Ga., negotiated for customer-centric security clauses with his ASP, now-defunct Pandesic LLC in Sunnyvale, Calif. [Page One, Aug. 7] "Security clauses in the initial Pandesic contract were very vague," Parziale says. So he worked out service-level agreements for customer credit-card security on transactions and data security for Folded Edge's SAP modules in addition to setting minimum access and connectivity requirements. Because his ASP partnered with several back-end service providers, getting these assurances was complex. For example, Intel Online Services in Santa Clara, Calif., set up Folded Edge's frame-relay connection and served as Pandesic's back-end host. It was up to Parziale to track down Intel's security controls before he could request contract specifications. Folded Edge didn't encounter any security problems during its two and a half months with Pandesic, something Parziale attributes to beefed-up security clauses in the contract between Pandesic and Folded Edge. But that contract didn't protect the company when Pandesic went out of business, leaving Folded Edge without an ASP since September. As Folded Edge searches for another round of funding to get back online, Parziale is looking for an ASP that handles its own hosting, security and Internet connectivity so he doesn't have such a tough time tracking down security policies from multiple vendors. Additional Measures Having sat through hundreds of contract negotiations himself, Hryckowian advises potential ASP customers to read the entire contract carefully. In addition, he suggests that you: 1. Prequalify the security backgrounds of those who deploy security at your ASP. 2. Inquire about service-level agreements that suit your business needs. 3. Make sure the contract also includes maintenance windows for regular code upgrades and patches. 4. Balance acceptable risk against security requests. 5. Know the security products and tools the ASP will deploy. 6. Define what action the ASP will take in case of a breach. Even with the most comprehensive coverage, ASPs make no guarantees. Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved.
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