Business & Money
By approaching Sarbanes-Oxley compliance as an opportunity rather than a burden, companies can reap strategic rewards and become stronger....
American Electric Power completed a $1.25 billion two-part global note issuance, the first long-term debt issue of the holding company. (Previous issuances have been through AEP subsidiaries.) Proceeds from the notes will be used to pay down commercial paper reflecting the company's financing strategy of reducing short-term debt to a target 10 percent of total capitalization. The company had originally planned a $1 billion offering, but increased the offering because of strong investor demand in the United States and Europe.
Some 500 Houston-area households will soon be part of an energy-saving pilot program that enables consumers to control their thermostats via the Internet. The program will be launched this summer by New Power Co. and its partners in Internet Home Appliance . NewPower Holdings Inc. has signed separate agreements with Shadowpack, a wireless application design/build firm, and Internet Home Appliance members Coactive Networks and Sears, Roebuck and Co.
AES Corp. has won a bid for approximately $23.2 million to purchase a 75 percent controlling interest in Rivenoblenergo, the distribution company that serves the Rivno region, which is about 200 kilometers from Kiev, the capital city of the Ukraine. The remaining 25 percent is either publicly traded or owned by the employees of the distribution company, said AES vice president Garry Levesley.
Excelergy Corp. , provider of software products and technologies for inter-company collaboration, has signed an agreement to provide New West Energy Corp. with its Excelergy eXACT and Excelergy Advanced Business Package software products. eXACT automates collaboration and care between businesses, and Advanced Business Package manages intricate internal business units such as complex billing and customer care. Excelegy also signed a deal with AEP Energy Services , the energy trading and marketing subsidiary of American Electric Power, to work jointly to develop software designed to manage wholesale electric businesses. The software, eXACT for Energy Trading, is being deployed by AEP, marking Excelergy's expansion into the wholesale energy software market.
The National Hydropower Association has awarded the Avista Corp. Clark Fork Project a citation for Outstanding Stewardship of America's Rivers. The award recognizes Avista's accomplishments in river protection and enhancement while continuing to produce clean, renewable and reliable hydroelectricity. The Clark Fork Project was one of 10 projects to receive this national recognition.
BC Hydro has signed a services contract worth $3.6 million (Cdn.) with enterprise asset management software provider Indus International to implement its PassPort Transmission & Distribution, Work Management, and company-wide Supply Chain functionality. A current Indus International customer and one of Canada's largest public utilities, BC Hydro is already using PassPort Work Management for its power generation business, enabling it to more effectively manage its asset-related resources such as labor, materials, and equipment.
Electricity and natural gas company Xcel Energy Inc. has selected ESRI's ArcGIS as its new geographic information system platform for its northern operations. Xcel Energy North will migrate from its existing ARC/INFO 7.2 platform to an enterprise GIS solution, ArcInfo 8.1, encompassing ArcSDE for Oracle, and Miner and Miner (M&M) ArcFM. Departments such as engineering, operations, customer service, construction,