PPM Energy

PPM logo^[1]

PPM Energy enjoys the financial backing of its international corporate parent, the Scottish Power group. Based in Portland, Oregon, the competitive US energy business' strategic priorities are to: grow its renewable/thermal energy portfolio and gas storage/hub services; and to optimise returns through the integration of assets, trading and commercial activities. In addition to its gas storage business, the company manages a portfolio of contracts and jointly developed the 484-megwatt Klamath Falls Cogeneration Plant with the City of Klamath Falls, Oregon. PPM also markets the entire output of the 263-megawatt Stateline Wind Energy Center near Walla Walla, Washington. ^[2] PPM Energy is already one of the largest providers of wind energy in the US and the third largest independent gas storage provider. ^[3]

In 2001, PacifiCorp Power Marketing, Inc. moved from being a subsidiary of PacifiCorp to being an affiliate to PacifiCorp. It was announced in 2002 that Scottish Power's competitive US energy business would change its name to PPM Energy, Inc. on January 15, 2003.

CEO Terry Hudgens said "Our business has grown beyond 'power' into gas storage and well beyond 'power marketing'. As a result, we realized that our old name-PacifiCorp Power Marketing-is too narrow a fit for our expanded capabilities. The new logo reinforces the fact that PPM remains a member of the ScottishPower group of companies. We'll still be the same people providing the same great level of services and even more products - just with a new name."

PPM Energy remained the same organization with the same contracts and the same underlying support. The PPM name and logo emphasized their ties to Scottish Power and its separate and independent status from the regulated utility, PacifiCorp. ^[4]

Terry Hudgens has been PPM Energy's president & CEO and Chief Executive officier since 2001.

Notes

1. ^ Photograph from PPM Energyhomepage, accessed 28 March 2007.
2. ^ Company information from ZoomInfo cached page, Aquila and ScottishPower's PacifiCorp Power Marketing, Inc. Sign $180 Million Agreement On Sale of Texas Gas Storage Assets, accessed 28 March 2007.
3. ^ Company information from Scottish Power Our Business, PPM Energy, accessed 17 April 2007.
4. ^ Company name change from PPM EnergyPress Release, "PPM Energy is coming", accessed 16 April 2007.