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23 April 2004 - Officials at Reliant Resources Inc. on Thursday said it will switch its name back to Reliant Energy next week, just three years after it changed it during a spinoff.
The company's stock symbol on the New York Stock Exchange will remain RRI.
"The cost will be minimal. All of our customers know us as Reliant Energy," spokeswoman Pat Hammond said. Though she did not have a firm figure on the cost of the changeover, Hammond estimated that it would be in "the tens of thousands."
The company expects some savings in administrative costs because a number of units still operate under the Reliant Energy name, most of them involving the company's retail electricity customers around its Houston headquarters.
"The only people that really knew us as Reliant Resources are in the financial community," she said.
In one of the more complicated corporate splits in recent memory, Reliant Energy spun off its unregulated businesses into Reliant Resources in May 2001 in advance of Texas' move to retail electricity deregulation in 2002.
Later, the remaining regulated units known as Reliant Energy were split into CenterPoint Energy and Texas Genco, to accommodate the complicated steps required by Texas' transition to deregulation.
All of those companies began their lives as part of Houston Industries, known to the large majority of its customers as Houston Light and Power. The conglomerate adopted the Reliant name on the advice of a branding consultant in the 1990s.
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