Enron Energy, Owens-Illinois Sign Energy Management Agreement

Compiled ByGina Protopapa Enron Energy Services, a subsidiary of Enron Corp., and Owens-Illinois Inc. signed a long-term $2.2 billion energy management agreement. The agreement, which spans 10 years, covers 53 Owens-Illinois manufacturing facilities in 20 states. Enron will work with the producer of glass and plastics packaging to manage the supply of electricity and natural gas to Owens-Illinois facilities. The company will also continue to look for ways to reduce Owens-Illinois' aggregate demand. According to Richard A. Jun, vice president of corporate purchasing for Owens-Illinois, the arrangement should provide savings and reduce the company's exposure to short-term energy price fluctuations.