Prisma Energy International
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Prisma Energy International Inc., is a subsidiary of Ashmore Energy International Ltd., which manages, and in some cases owns, the majority of Enron's remaining assets. Prisma is structured as an 'offshore' United States corporation incorporated in the British Overseas Territory of the Cayman Islands, but with its headquarters in Houston, Texas. It is a holding company for 15 gas and electricity businesses. Its subsidiary, Prisma Energy International Services LLC, employs approximately 125 individuals, most at its headquarters in based in Houston, Texas. Assets in which Prisma Energy manages an interest employ an additional 6,500 employees worldwide.
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[edit] Scope of operations
Prisma Energy manages interests in international energy assets focused on transportation, distribution and generation of gas and electricity with approximately:
- 5,145 miles of natural gas transmission pipelines
- 1,700 miles of oil/liquids pipelines
- 56,000 miles of electric transmission and distribution lines
- 1,903 MW of electric power generating capacity
- 4 million LPG and electric power customers
- 15 businesses located in 11 countries
[edit] Enron bankruptcy
According to the final restructuring plan submitted to bankruptcy court, Enron Corporation will be dissolved at the conclusion of the restructuring process, allowing Prisma Energy International to emerge as an independent company. Enron's creditors, who lost about $63 billion due to its massive bankruptcy, were expected to receive between 17 and 22 cents on the dollar in cash and in Prisma stock due to its parent company Enron's dissolution. Prisma Energy has three business segments: natural gas, power distribution, and power generation on four continents. The natural gas units process and supply liquefied petroleum gas (LPG) in Bolivia, Brazil, Colombia, and South Korea. The power distribution business consists of Elektro Eletricidade, a Brazil-based company with 1.8 million customers. Prisma Energy's power generation units manage power plants in Europe and South America. As of 2006, Enron's bankruptcy case is still on going. On September 7, 2006, the sale of Prisma to Ashmore Energy International Ltd. was completed.
[edit] Board members
Board members include:
- Ron Haddock, Executive Chairman and CEO
- John W. Ballantine
- Philippe A. Bodson
- Lawrence S. "Larry" Coben
- Dr. Paul K. Freeman
- Henri Philippe
- Robert E. Wilhelm
[edit] External links
- PrismaEnergy.com - 'Prisma Energy is an international energy company, which manages interests in a group of 15 energy assets located in 11 countries' (corporate homepage)
- AdeaSolutions.com - 'Ron Haddock'
- Enron.com - 'Enron is in the midst of restructuring various businesses for distribution as ongoing companies to its creditors and liquidating its remaining operations'
- [1] - 'Prisma Energy International Inc.'
- WashingtonPost.com - 'Enron's Planned End: Symbol of Greed Has Shed Assets, Hopes to Drop Name and Emerge', Carrie Johnson, Washington Post (June 3, 2004)
- Press release announcing sale of Prisma to Ashmore Energy International Ltd.
