June 11, 1999
Sempra Energy Trading, the wholesale energy trading subsidiary of Sempra Energy, announced a strategic alliance with MEG Marketing, LLC, an energy marketer and a certified Minority and Woman Owned Business Enterprise (MWBE), to market energy and energy-related products and service to municipalities, federal and state government entities and major corporations.
The new alliance will operate under the name MEG Marketing and will be based in Atlanta. MEG will sell natural gas, electricity, crude oil and energy-related products and services. Initial efforts will focus on the eastern and southern regions of the United States. Terms of the deal were not disclosed.
"This strategic alliance is part of our overarching strategy to expand Sempra Energy Trading's geographic footprint and generate new business opportunities with municipalities and federal and state government entities," said David Messer, president of Sempra Energy Trading. "Sempra Energy boasts a long history of commitment to employee and supplier diversity, and the partners that we choose for joint business endeavors are no exception."
Sempra Energy Trading is one of the largest U.S. participants in marketing and trading physical and financial energy products including natural gas, power, crude oil and associated commodities.
While MEG Marketing will head up the marketing efforts to acquire new customers, Sempra Energy Trading will provide the commodity supply and scheduling, as well as back-office technical and operational support.
"As a licensed power and gas marketer, MEG is well-positioned to take advantage of the marketplace developments due to deregulation in the energy sector," said Jeanne Simkins Hollis, president and chief executive officer of MEG Marketing. "Our goal is to create a partnership capable of meeting the changing needs of customers in a competitive energy market by combining a culturally diverse, dynamic company with the financial and corporate strength of one of the nation's leading energy marketers.
"Our extensive market research indicates that virtually all major corporations and municipalities in the U.S. will be impacted by energy restructuring. This represents unparalleled business opportunities for small-to mid-sized entrepreneurial firms," Hollis said.
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