NEWS RELEASE

Office of External Communications

Houston, TX 77204-5017 Fax; 713/743-8199

FOR IMMEDIATE RELEASE
January 15, 2004

Contact: Angie Joe
713/743-8153 (office)
713/617-7138 (pager)
ajoe@uh.edu
RESTORING CONFIDENCE: UH-GEMI SYMPOSIUM
EXPLORES TURNAROUND IN THE ENERGY TRADING INDUSTRY

Since 2000, energy trading has declined more than 80 percent. Many industry analysts are now predicting a recovery, but is the turnaround really in sight?

Debate about the future of the industry continues at “Restoring Confidence,” University of Houston’s Global Energy Management Institute’s (UH-GEMI) second annual energy trading and marketing conference Jan. 22.

“Energy trading’s comeback is slow primarily because of the impaired creditworthiness of the main market players,” said Craig Pirrong, energy markets director for UH-GEMI. “Until creditworthiness builds, energy trading will continue to struggle.”

Attendees of the conference will explore creditworthiness and other related issues including Energy Trading: Is the Turnaround in Sight?; Price Transparency: Private vs. Government Solutions; Credit Crunch; Public Policy Battle Lines: The New Energy Bill, and States vs. FERC; and Energy Trading Contracts: Bankruptcies, Credit and Convergence.

Speakers include Pirrong; Michael Cyrus, executive vice president, Cinergy Corp.; and Greg Harper, senior vice president, energy marketing and management, Duke Energy North America.

A media briefing with Pirrong, Cyrus and Harper will take place at 1 p.m. in Room 247 of the University Hilton.

WHO: University of Houston’s Global Energy Management Institute (UH-GEMI)
WHAT: Second annual “Restoring Confidence: Energy Trading and Marketing Conference”
WHEN: Thurs., Jan. 22, 2004
8:45 a.m. – 5 p.m. Restoring Confidence Conference, Conrad Ballroom, University Hilton
1 p.m. – Media Availability with Pirrong, Cyrus and Harper, Room 247, University Hilton
For a complete schedule go to http://www.bauer.uh.edu/gemi/events/trading_conference.htm

For more information about UH visit the university’s ‘Newsroom’ at www.uh.edu/admin/media/newsroom.