Reliant Energy Forms New European Business Unit
"Reliant Energy is establishing itself as a major player in European energy markets, and this organization provides the flexibility and operational expertise to help us accomplish our goals for expansion," said Bob Harvey, Reliant Energy vice chairman. "Charles Oglesby has been a driving force behind our European strategy thus far, and we believe his continued leadership and expertise are vital to accomplishing our goals there."
In addition to his responsibilities with Reliant Energy Europe, Oglesby plans to continue as CEO of the Reliant Energy Wholesale Group. The energy wholesale group includes the power generation, natural gas transportation, and wholesale energy trading and marketing operations of Reliant Energy in the United States.
In conjunction with the creation of Reliant Energy Europe, the company announced the following appointments: John Bear, vice president of European operations; Guido Schlosser, chief financial officer; Paul Koppen de Neve, vice president European generation operations; Paul Castanon, general counsel; Shawn McFarlane, director of strategy and planning; and Ron Langenkamp, acting chief commercial officer.
Reliant Energy Europe encompasses a strategic partnership with the Dutch power generation company N.V. UNA and the operations of the company's wholesale trading and marketing organization. Reliant Energy's partnership with UNA provides a unique entry point into a commercially strong, deregulating energy market. UNA has 3,400 MW of generating capacity in the Dutch market. Reliant Energy Trading and Marketing B.V. provides wholesale energy trading, marketing and risk management services, which are custom-designed to meet the competitive needs of European markets.
Reliant Energy, based in Houston, is an energy delivery and energy services company with nearly $14 billion in annual revenues and assets totaling more than $22 billion. The company has more than 22,000 MW of power generation in operation in the United States and Europe, announced development projects totaling more than 4,700 MW, and a top-ten wholesale energy trading business. Reliant Energy also has retail marketing and distribution serving about 4 million electricity and natural gas customers in the United States and holds significant interests in power distribution operations in Latin America serving about 10 million customers.
Edited by April C. Murelio
editor@poweronline.com