Mirant, Cook Inlet Power Agreement Marks Industry First for Minority Business

Apr 04, 2001, 01:00 ET from Mirant Corp.

    ATLANTA, April 4 /PRNewswire/ -- Mirant (NYSE:   MIR) and Cook Inlet Power,
 the power marketing arm of the nation's largest minority-owned energy
 business, announced today that they have created a wholesale supply
 arrangement to support the power marketing efforts of Cook Inlet.
     The preferred minority customer agreement is the first of its kind in the
 country for the power marketing industry.  Pursuant to the agreement, Cook
 Inlet will identify third-party customers with minority business power
 purchase policies, requirements or desires and provide power to these third-
 party power customers through Mirant's North American energy risk management
 and marketing operation.
     "This arrangement, with Cook Inlet encourages competition which enhances
 efficiency in the power markets and allows Mirant to access markets where it
 has little activity," said Rick Pershing, chief executive officer of Mirant
 Americas.  "This relationship is a win-win for Mirant, Cook Inlet and retail
 customers looking to acquire a reliable, competitive energy supply."
     "This arrangement helps pave the way for minority businesses in the energy
 sector," said Gregory L. Craig, chief executive officer of Cook Inlet.  "The
 agreement allows Cook Inlet to enter markets with Mirant, a leading power
 marketer, and provide customers with the risk management products and services
 of their choice."
     Cook Inlet, headquartered in Los Angeles, is the nation's largest
 minority-owned energy business with 2000 sales of approximately $2.0 billion.
 The company markets more than three billion cubic feet of natural gas per day
 and is an active trader of NYMEX gas futures.  Cook Inlet recently added power
 marketing to its growing base of energy products and services.
     Mirant is a global competitive energy company with a leading position in
 both power generation and energy risk management and marketing.  With an
 integrated business model, Mirant develops, constructs, owns and operates
 power plants and sells wholesale electricity, natural gas and other energy
 commodities.  Headquartered in Atlanta, with 7,000 employees worldwide, Mirant
 has extensive operations in North America, Europe and Asia.  Mirant owns or
 controls more than 20,000 megawatts of electric generating capacity around the
 world, with another 9,000 megawatts under development.  In North America,
 Mirant controls an extensive natural gas asset base, including transportation,
 storage and access to approximately 3.7 billion cubic feet per day of natural
 gas production.
 
 

SOURCE Mirant Corp.
    ATLANTA, April 4 /PRNewswire/ -- Mirant (NYSE:   MIR) and Cook Inlet Power,
 the power marketing arm of the nation's largest minority-owned energy
 business, announced today that they have created a wholesale supply
 arrangement to support the power marketing efforts of Cook Inlet.
     The preferred minority customer agreement is the first of its kind in the
 country for the power marketing industry.  Pursuant to the agreement, Cook
 Inlet will identify third-party customers with minority business power
 purchase policies, requirements or desires and provide power to these third-
 party power customers through Mirant's North American energy risk management
 and marketing operation.
     "This arrangement, with Cook Inlet encourages competition which enhances
 efficiency in the power markets and allows Mirant to access markets where it
 has little activity," said Rick Pershing, chief executive officer of Mirant
 Americas.  "This relationship is a win-win for Mirant, Cook Inlet and retail
 customers looking to acquire a reliable, competitive energy supply."
     "This arrangement helps pave the way for minority businesses in the energy
 sector," said Gregory L. Craig, chief executive officer of Cook Inlet.  "The
 agreement allows Cook Inlet to enter markets with Mirant, a leading power
 marketer, and provide customers with the risk management products and services
 of their choice."
     Cook Inlet, headquartered in Los Angeles, is the nation's largest
 minority-owned energy business with 2000 sales of approximately $2.0 billion.
 The company markets more than three billion cubic feet of natural gas per day
 and is an active trader of NYMEX gas futures.  Cook Inlet recently added power
 marketing to its growing base of energy products and services.
     Mirant is a global competitive energy company with a leading position in
 both power generation and energy risk management and marketing.  With an
 integrated business model, Mirant develops, constructs, owns and operates
 power plants and sells wholesale electricity, natural gas and other energy
 commodities.  Headquartered in Atlanta, with 7,000 employees worldwide, Mirant
 has extensive operations in North America, Europe and Asia.  Mirant owns or
 controls more than 20,000 megawatts of electric generating capacity around the
 world, with another 9,000 megawatts under development.  In North America,
 Mirant controls an extensive natural gas asset base, including transportation,
 storage and access to approximately 3.7 billion cubic feet per day of natural
 gas production.
 
 SOURCE  Mirant Corp.