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UtiliCorp United (NYSE:UCU) is an international, growth-oriented energy and services company based in Kansas City, Missouri. Since being formed in 1985 from Missouri Public Service Company, UtiliCorp has grown through regulated utility acquisitions totaling approximately $1 billion. Over the same period, the company has also spent more than $1 billion on non-regulated energy acquisitions and investments. At December 31, 1997, the company had total assets of $5.1 billion and its 1997 sales were $8.9 billion. Named 1997 Utility of the Year by a leading energy trade publication, UtiliCorp today has a strong national presence as a provider of competitive and innovative energy solutions, and a growing presence in the international arena. The company has approximately 2 million electric and gas utility customers in eight states, one Canadian province, and Australia. It also owns interests in two electric utilities in New Zealand and markets natural gas to wholesale customers in the United Kingdom through joint ventures with British regional electric companies. Who we serve UtiliCorp serves electric and gas utility customers in Missouri, Kansas, Iowa, Nebraska, Colorado, Michigan, Minnesota and West Virginia through seven divisions: Missouri Public Service, Kansas Public Service, Peoples Natural Gas, WestPlains Energy, Northern Minnesota Utilities, Michigan Gas Utilities, and West Virginia Power. Customers in British Columbia are served through West Kootenay Power, a Canadian subsidiary. Energy One UtiliCorp launched EnergyOneSM, the first national brand name in the utility industry, in 1995. The company expanded on t his concept with the formation in June 1997 of EnergyOne, L.L.C., the industry's first nationwide, branded energy marketing company designed to speed the benefits of competition to other utilities and consumers. Partnership A partnership with PECO Energy, EnergyOne L.L.C. is an ambitious effort to fundamentally change the way electric and natural gas utilities relate to their customers by integrating traditional energy offerings with a portfolio of competitively-priced products and services under the EnergyOne label.. These include AT&T residential communications services and ADT home and business electronic security offerings. Aquila Energy Through its Aquila Energy subsidiary, UtiliCorp has marketed natural gas to industrial and wholesale customers in nearly all of the contiguous 48 states as well as part of Canada and Mexico. Aquila also has operations in gas gathering, transportation and processing and natural gas liquids through its 82 percent-owned Aquila Gas Pipeline Corporation subsidiary (NYSE:AQP). In 1995, the new Aquila Power subsidiary began to market electricity to large volume wholesale customers, one of the first utility affiliates authorized to launch this new type of business. Aquila's gas and electricity marketing and trading businesses are ranked among the five largest in the U.S. in terms of volumes. Aquila is also expanding its presence in Canada. UtilCo Group UtiliCorp's UtilCo Group subsidiary owns interests in 17 independent power projects in seven states and Jamaica, with aggregate capacity of 873 megawatts. Its ownership interests range from 22 to 50 percent. International Operation UtiliCorp has operated internationally since 1987, when it acquired West Kootenay Power, a hyrdroelectric utility in British Columbia, Canada. Through joint ventures with British regional electric companies, UtiliCorp has been marketing natural gas to industrial and commercial customers in major markets of the United Kingdom since 1992. The company acquired an interest in an electric utility in New Zealand in 1993 and acquired an ownership position in a second utility there in 1995. United Energy In September 1995, a UtiliCorp-led consortium purchased United Energy, the first Australian utility to be privatized, in a transaction valued at approximately $1.15 billion. United Energy distributes electricity to about 550,000 customers in metropolitan Melbourne, Victoria. UtiliCorp serves as manager of the utility's operations and holds a 49.9 percent ownership interest. The company's direct investment in the transaction was approximately $258 million.
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