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Business 2002 P18



Wood Group Gas Turbine Services acquires Thomason Mechanical and Bender Machine
Wood Group Gas Turbine Services has acquired the business and assets of Thomason Mechanical Corporation (TMC) and sister company Bender Machine for a cash consideration of approximately $46 million.

Aquila names Keith Stamm COO
Aquila Inc. announced that Keith Stamm has been named Senior Vice President and Chief Operating Officer and Mike Jonagan has been appointed Senior Vice President, Capacity Services.

Plug Power delivers fuel cell systems for back-up power market
Plug Power Inc. announced the availability of the company's first direct-hydrogen fuel cell system designed to provide extended outage coverage for critical industrial operations.

TXU revises earnings expectations for 2002 and 2003
TXU a global energy services company serving customers in the United States, Europe and Australia, announced today that it is adjusting its guidance for earnings for the third quarter ended September 30, 2002.

Allegheny Energy comments on Moody's downgrade
Allegheny Energy Inc. on Tuesday responded to a downgrade by Moody's Investors Service with disappointment, but said the downgrade was a result of challenging times facing the energy industry.

FERC orders CalPX to return three letters of credit to Constellation Energy Group
The Federal Energy Regulatory Commission (FERC) has ordered the California Power Exchange (CalPX) to refund three letters of credit to Constellation Energy Group.

NRG Energy unit fails to make about $47 million in bond payments
NRG South Central LLC, a unit of NRG Energy, said it did not make about $47 million in bond payments as scheduled.

John T. Conway named Constellation Generation Group Vice President of Nine Mile Point Nuclear Station
Constellation Energy Group announced that John T. Conway has been named a vice president of the company's Constellation Generation Group (CGG) with responsibility for the Nine Mile Point Nuclear Station in New York. Conway will report directly to CGG President Michael J. Wallace.

Electric utilities can significantly increase profits, study says
An average utility, with $2 billion in revenue, could increase its pretax profits by $250 million to $360 million simply by improving key customer relationship management (CRM) capabilities, and the profit increase could be even greater for larger utilities, according to a study of utility companies by Accenture.

Big Rivers names ACES Power Marketing its energy marketer
Big Rivers Electric Corp. announced that it has selected ACES Power Marketing, LLC (APM) to replace its existing energy marketer for risk management and power transaction execution services.

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