Duke/Fluor Daniel, a partnership between Duke Energy Corp. and Fluor
Daniel, Monday announced that it has been awarded a contract by Duke
Energy Power Services (DEPS) to provide engineering, procurement and
construction services for a 520-megawatt, natural gas-fired merchant
power plant in Penobscot County, Maine. The contract value was not
disclosed.
The power plant, which will be built near the city of Veazie, is
expected to be fully operational by the summer of 2000. Merchant power
plants sell wholesale power on a competitive basis to utilities and
power marketers which need low-cost power to meet their customers'
needs. However, utilities and power marketers are not required to buy
power from merchant plants. In order to be successful, these plants must
be able to generate electricity at prices more attractive than other
power plants operating in the same market.
Duke/Fluor Daniel President Clarence Ray, Jr., said, "The success of any
merchant power plant is how cost-competitive it is versus other plants.
Engineering and construction play a big part in that. We're pleased that
Duke/Fluor Daniel is able to provide value to DEPS in this way."
Maine Independence Station is owned by Casco Bay Energy Co. LLC, an
affiliate of Duke Energy Power Services LLC. Duke Energy Power Services
develops, owns and operates electric power plants across the United
States and Canada. It is the unregulated domestic power developer for
Duke Energy Corp.
Duke/Fluor Daniel was formed in 1989 by Duke Energy Corp. and Fluor
Daniel. It provides comprehensive engineering, procurement, construction
and plant operating services for fossil-fueled electric power generation
facilities worldwide. Visit Duke/Fluor Daniel on the Internet at www.d-fd.com.
Duke Energy Corp. (NYSE:DUK) is a global energy company with more than
$26 billion in assets. Duke Energy companies develop, build, own and
operate energy facilities, and provide engineering, management,
operating, maintenance and environmental services.
Fluor Daniel is the engineering, construction, maintenance, technical
and diversified services subsidiary of Fluor Corp. (NYSE:FLR). In 1998,
Fluor Corp. revenues were $13.5 billion.
Fluor Corp.Lisa Boyette (media relations), 949/975-3652orLila Churney (investor relations), 949/975-3909orDuke Energy Corp.Danny Gibbs (public affairs), 704/373-6680