Cinergy to provide KGen with energy management services

Ohio-based energy company Cinergy yesterday said its marketing and trading affiliates will provide energy management services for power plants owned by KGen Power. Cinergy made the three-year agreement agreement with Kgen, a subsidiary of investment firm MatlinPatterson Global Opportunities Partners II, on August 17.

The deal covers 5,325 megawatts of natural gas-fired generation at eight facilities in the southeast US – Mississippi, Georgia, Arkansas and Kentucky. Cinergy will provide KGen with power management services, such as trading, origination, scheduling, transmission and ancillary services. It will also provide fuel management services, such as natural gas trading, optimisation and hedging.

KGen bought the facilities from Duke Energy North America on August 5 for $475 million. The transaction

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