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Ex-Enron Execs Launch Firm to Market Energy

January 15, 2002|From Associated Press

PHILADELPHIA — Several former Enron Corp. executives launched Monday a firm to market energy services to small and medium-sized businesses instead of large industrial customers the bankrupt giant had sought.

Celeren Corp. was negotiating the final details of an expected $15-million deal with its first customer, a New York firm, and expected to announce that deal by the end of next week, said President Thomas A. Brigger.

Brigger, Celeren Chief Operating Officer Donald S. Parker and others left Enron in July to organize their new venture, well before the Houston-based energy trader rocked the financial world with its Oct. 16 disclosure of a $638-million third-quarter loss and its bankruptcy filing Dec. 2.

Brigger had been mid-Atlantic regional manager for Enron Energy Services' outsource fulfillment operation, and Parker had been mid-Atlantic regional director of asset risk management.

"The group we were with, Enron Energy Services, was doing very well. Our group had nothing to do with accounting," Brigger said.

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