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Article: New Energy Ventures Agrees on Wholesale Power Deals For Sale of Hydroelectric Power from BPA
- Article from:
- PR Newswire
- Article date:
- June 17, 1997
CopyrightCOPYRIGHT 1997 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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LOS ANGELES, June 17 /PRNewswire/ -- New Energy Ventures, Inc., has agreed to sell 200 megawatts of power in the wholesale energy market for six months beginning June 30, 1997, in advance of the opening of California's energy market to retail competition.
One purchaser is Omaha-based ConAgra Inc. (NYSE: CAG), the nation's second largest food processor, which buys and sells wholesale power to hedge prices for energy needs at its processing plants. The sale to ConAgra "can be used as a risk management tool against current retail prices and reflects a form of virtual direct access," said Mark Thompson, Risk Manager of ConAgra. "We look forward to developing a ...