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Dominion News Releases
October 1, 2001
Dominion Names Duke Energy Executive President
of Dominion’s Trading Division
RICHMOND, Va. -- Kevin T. Howell has been named president-Dominion
Energy Clearinghouse, the energy marketing and trading division of Dominion Energy,
effective today. Dominion Energy is the power generation, energy marketing and
gas transportation unit of Dominion (D: NYSE), one of the nation’s leading electric
power and natural gas companies.
At present, Howell is executive vice president-Global Trading,
Marketing & Risk Management, Duke Energy Corp., Houston. Howell has more than
20 years of energy-related experience. His commodities experience includes power,
natural gas, petroleum products and financial derivatives in U.S., European,
Latin American and Asian markets.
Thomas F. Farrell, chief executive officer of Dominion Energy,
said:
“We are pleased to bring into our company a skilled energy
executive of Kevin’s breadth and scope. Under his stewardship, we’re confident
he will direct the continued strong growth of our energy marketing and trading
operations. Kevin’s mission is to build on our earlier successes and to make
the clearinghouse the leading energy marketing and energy services company in
the Midwest, Northeast and Mid-Atlantic regions of the U.S.”
Dominion is on target to achieve expected annual increases
in gas trading volumes from 1.2 trillion cubic feet at the end of 2000 to 2.4
trillion cubic feet at the end of 2003. Annual electricity trading volumes are
on target to increase from 136 million megawatt-hours in 2000 to 265 million
megawatt-hours by the end of 2003.
Howell will be based in Richmond and will report to Paul
D. Koonce, senior vice president-portfolio management.
Richard T. “Rick” Thatcher, vice president-Market Services,
now oversees the Dominion Energy Clearinghouse. Effective Oct. 1, Thatcher will
become vice president-Dominion Energy and senior business consultant.
In his new position, Thatcher will be involved with numerous
strategic business issues, including the company’s deregulation plan; new business
initiatives; non-utility generation restructuring; and corporate outreach. He
will continue to be based in Richmond and will also report to Koonce.
“In many respects, we can consider Rick Thatcher the father
of Dominion’s successful trading operation,” Farrell said. “He founded it seven
years ago and built it into an integral part of Dominion’s growth plan. With
this remarkable success in hand, and a nationally prominent successor now appointed,
we’re delighted that Rick is now ready to focus his considerable energy in other
critical areas.”
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