Investor-Owned Utilities: Major Mergers and Acquisitions, 1994-1999
Announcement or Date of Completion Merger Partner or Acquiring   Utility Merger Partner or Utility
being Acquired
New Name for Merged Entities Status States Served* 1997 Assets in Billions
Apr-99Consolidated Edison IncOrange & Rockland Utilities IncComplete
Mar-99New Century EnergiesNorthern States PowerPending1111
Mar-99CalEnergy Company IncMidAmerican Energy Holdings CoComplete
Mar-99UtiliCorp United IncSt. Joseph Light & Power CoPending
Feb-99Dominion Resources, IncConsolidated Natural Gas CoPending
Feb-99Sempra EnergyK N Energy IncPending
Feb-99SCANA CorpPublic Service Company of North CarolinaPending
Feb-99NIPSCO Industires IncBay State Gas CompanyComplete
Feb-99New England Electric SystemEastern Utilities AssociatesPending
Dec-98BEC Energy (Boston Edison)Common Wealth Energy SystemNSTARPending
Nov-98AES CorpCILCORP, IncPending
Nov-98Carolina Power and Light CompanyNorth Carolina Natural Gas CorpPending
Sep-98WPS Resources CorpUpper Peninsula Energy CorpComplete
Jun-98Enova Corp (SDG&E Co)Pacific Enterprises(So Cal Gas Co)Sempra EnergyComplete
May-98Wisconsin Energy CorpEselco, IncComplete
May-98Long Island Lighting CoKeySpan Energy (Brooklyn Union Gas)MarketSpan CorpComplete
May-98LG&E Energy CorpKU Energy CorpComplete
Apr-98Nevada Power CoSierra Pacific ResourcesPending
Apr-98WPL Holdings IncIES Industries Inc; Interstate Power Cog744dba Alliant Energy CorpComplete
Mar-98Atlantic Energy IncDelmarva Power and Light CoConectivComplete
Dec-97Union Electric CoCipsco, IncAmeren CorporationComplete
Dec-97American Electric Power Co IncCentral and South West Corporation Pending1111
Nov-97Ohio Edison CoCenterior Energy CorpFirst Energy CorpComplete
Aug-97Public Service Company of ColoradoSouthwestern Public Service CoNew Century EnergiesComplete
Aug-97Houston Industries IncNorAm Energy CorpComplete
Aug-97Texas Utilities CompanyENSERCH CorpComplete
Jul-97Enron CorpPortland General CorpComplete
Jun-97TECO EnergyLykes Energy IncComplete
Jun-97Duke Power CoPan Energy CorpDuke Energy CorporationComplete
Apr-97Allegheny Energy IncDQEUnder dispute
Apr-97PG&E CorpValero Energy CorpComplete
Apr-97PacifiCorpTPC CorporationComplete
Mar-97NIPSCO Industries IncIWC Resources CorpComplete
Feb-97Puget Sound Power & Light CoWashington Energy CoPuget Sound EnergyComplete
Aug-96MidAmerican Energy CoIES Industries IncHostile bid, withdrawn
Apr-96Western Resources IncKansas City Power & Light CoWestar EnergyPending
Jan-96UtiliCorp United IncKansas City Power & Light CoMaxim Energies IncDefeated4+B.C.4+B.C.
Sep-95Baltimore Gas & Electric CoPotomac Electric Power CoConstellation Energy CorporationWithdrawn1+D.C.1+D.C.
Aug-95PECO Energy CompanyPP&L Resources IncRejected by utility
Jul-95Midwest Resources IncIowa-Illinois Gas & Electric CoMidAmerican Energy CoComplete
May-95Northern States Power CoWisconsin Energy CorpPrimergy CorpWithdrawn
Oct-94PSI Resources IncCincinnati Gas & Electric CoCINergy CorpComplete
Jun-94Sierra Pacific ResourcesWashington Water Power CoAltus CorpWithdrawn

* States served = states with retail electric customers served by the merged utility.

Sources: (1) Moody's Public Utility Manual and Moody's Public Utility News Reports; Moody's Investors Service, Inc., for data on assets.

(2) Form EIA-861, U.S. Department of Energy, Energy Information Administration, for states served; and

(3) news items for announcements of pending mergers.


Some Major Utility ESCOs
Utility ESCO
Baltimore Gas & ElectricHome Products and Services; Energy Products and Management
Boston EdisonConeco Corp.; Boston Energy Technology Group; BeCo Service
Bay State GasEnergyUSA
Carolina Power & LightStrategic Resources Solutions
Central Hudson Gas & Elec.Central Hudson Enterprise Group
Central & Southwest Corp.CSW Communications; EnerShop
Centerior Energy Corp.Centerior Enterprises Group
CinergyCinergy Solutions
ConEdisionCon Edison Solutions, Con Edison Development
Detroit EdisonEdison Energy Services
Duke EnergyDuke Engineering & Service; Duke Merchandising, Duke Solutions
Duquesne EnterprisesDQE Energy Services
Eastern Utility AssociatesEUA/Cogenix; EUA Nova; EUA Energy Services; EUA Day; EUA Highland Corp.; EUA Citizens Conservation Services
Florida Power & LightFPL Energy Services
Houston Lighting & Power[Unnamed]
Idaho Power[Unnamed joint venture with local municipal]
Illinova Corp.Illinova Energy Partners
IPALCOMid-America Energy Resources
Louisville Gas & LightEnertech
Nevada Power[Unnamed joint venture with Unicom Thermal Resources]
New York State ElectricXenergy
NIPSCO IndustriesPrime Energy
Northeast UtilitiesHEC Efficiency Corp.
Northern States PowerCenergy
Ohio EdisonFirstEnergy Services
PP&LSpectrum Energy Services
Pacific Gas & ElectricPublic Service Conservation Resources
PacifiCorpPacifiCorp Energy Inc., Energy Pact (joint venture)
Philadelphia Gas & Elec.Heatec Energy Performance Services
Potomac Gas & ElectricPEPCO Services
Public Service Enterprise Grp.Enterprise Energy Technology, Public Service Conservation, Energis
Southern CompanySouthern Development & Investment
Southern Indiana Gas & Elec.Energy Systems Group, Inc.
Texas UtilitiesOperational Solutions
UtiliCorp UnitedEnergyOne, EnTrust Energy Solutions
Virginia PowerEvantage, A&C Enercom, A&C TriTech
Western ResourcesAstra Power, Astra Services, Western Business Services
Wisconsin EnergyEnergy Oasys
Wisconsin Power & LightA&C Emerson
Washington Water PowerWWP Energy Solutions
Florida Progress/Cinergy/New Centuries EnergyCadence