Bank of America

The battle to control profit margin really boils down to a battle for the customer premises, where the serious money resides.The gas and electric industries in the United States control about $900 billion in assets (production, logistical, merchant). They employ these assets to serve about 150 million customers (counted separately for gas and electric), but they manage to offer only two rudimentary products (em molecules and electrons (em and at only two levels of service: firm (supposedly) and interruptible (obviously).

Aquila Power Corp., a UtiliCorp United subsidiary, has hired two executives to expand its market into the western United States. Timothy J. Culbertson, from Portland General Electric, will lead power marketing in the Pacific Northwest. David L. Metz will lead power marketing in the Southwest. Metz comes from Arizona Public Service Co.Consolidated Natural Gas Co. has named Bruce E. Plichta international financial analyst and James M. Mulcahy senior financial analyst.