PacifiCorp and Green Mountain Energy Resources Sign Deal
SOUTH BURLINGTON, Vt., Oct. 14, 1998 — Green Mountain Energy Resources L.L.C. announced today that it has selected Oregon-based PacifiCorp as its first wholesale supplier of energy products for Green Mountain's California customers. Green Mountain will begin offering energy products featuring renewable power starting next month when California residents will be allowed co choose their electricity provider.
Under the agreement, Green Mountain will receive a portion of its energy supply from PacifiCorp. That power will come from a variety of PacifiCorp's resources in the western region, including small scale hydro, geothermal and biomass. Details of the deal were not announced.
"Green Mountain Energy Resources is pleased to be working with PacifiCorp," said Douglas G. Hyde, president of Green Mountain. "PacifiCorp is both a major wholesale power marketer, and — what is crucial to us — it is committed to the development of renewable resources."
PacifiCorp officials are working closely with Green Mountain to identify generating resources that demonstrate sensitivity to the environment and offer customers an opportunity to show support for these resources. "We are committed ted to supplying electricity with generation generation that meets high standards of environmental acceptance," said Dennis Steinberg, PacifiCorp Senior Vice President. "Our relationship with Green Mountain Energy Resources demonstrates our on-going support for customer choice."
Green Mountain's Hyde stressed the importance of market forces to the future of renewable resources. "we believe these products we are creating allow our customers to send a strong signal regarding the kind of generation they would like to see built."
PacifiCorp is a major energy wholesaler and serves approximately 2 million retail customers in the United States and Australia. The company is the majority owner of a $60 million wind energy facility on which construction began last month near Laramie, Wyoming. The plant will provide electricity for up to 25,000 customers.
With headquarters in South Burlington, Vermont, Green Mountain Energy Resources is jointly owned by affiliates of Green Mountain Power Corp. of Vermont and the Texas-based Wyly Family. Green Mountain is dedicated to increasing demand for cleaner energy sources, preserving the environment, and establishing innovative ways for customers to interact with their energy provider.
CONTACT: Jane Rockwell of She Weber Group, 617-661-7900, or Erin MacLellan or Anita Marks of PacifiCorp, 503-464-6268
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