New Energy Ventures Wins Military Contract
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Los Angeles-based New Energy Ventures has won a Defense Department contract to supply electricity and related services to several Army, Navy and Air Force facilities that are eligible to participate in California’s restructured electricity market. Since March 31, 70% of the state’s power customers have been able to choose their electricity provider. Under the four-year contract, New Energy Ventures will supply 1.2 billion megawatts of electricity annually to facilities that include Vandenberg Air Force Base, Miramar Marine Corps Air Station, Camp Pendleton, the Long Beach Naval Shipyard and Ft. Hunter Liggett. The contract is worth about $300 million, and is one of the largest deals signed to serve the new competitive market, New Energy Ventures said.
For the record:
12:00 a.m. May 16, 1998 For the Record
Los Angeles Times Saturday May 16, 1998 Home Edition Business Part D Page 2 Financial Desk 2 inches; 38 words Type of Material: Correction
New Energy Ventures: Under a contract with the Defense Department, Los Angeles-based New Energy Ventures will supply 1.2 million megawatt-hours of electricity to several military facilities in California. The amount of electricity was misstated in Friday’s paper.
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