PP&L Resources Inc. has formed Spectrum Energy Services Corporation, a subsidiary to develop business opportunities allied with the electric energy business, the company said Wednesday (7/12).
PP&L Resources Inc. is the parent holding company for Pennsylvania Power & Light Co.
John P. Kierzkowski will be president of the new company, which will be a subsidiary of PP&L Resources Inc. Currently vice president and treasurer of Pennsylvania Power & Light Co., Kierzkowski will be released from his PP&L duties. His replacement will be named within the next several weeks.
In addition, Daniel J. Persa, currently PP&L's business growth manager, will serve as a vice president of Spectrum Energy Services, transferring his former responsibilities from the utility to the new enterprise.
In announcing the formation of the new company, William F. Hecht, PP&L Resources chairman, president and CEO, said Spectrum Energy Services is a natural outgrowth in the company's efforts to increase revenues outside the traditional electric utility business.
"Over the past year, with a modest effort, we have generated substantial revenue by selling new services and products to both PP&L's traditional customer base and to new customers," said Hecht. "This new company will further pursue the opportunities being presented by the changing electric utility marketplace."
Hecht said the new subsidiary is part of the company's long-term strategic direction to grow revenues outside the regulated electric utility business. Spectrum Energy Services will market new products and services, both to the utility's 1.2 million customers and to customers outside its traditional service area.
"Pursuing ventures outside the traditional electric industry products and services provide PP&L Resources Inc. with an important opportunity to grow its earnings," said Hecht. "This is especially important as change continues to shape a new electric industry in this country."
Kierzkowski, 55, joined PP&L as manager-Financial Research in 1971. He became assistant treasurer in 1981 and was elected to his current position in 1985. A resident of Allentown, he is a graduate of Kenyon College with a degree in economics.
Persa, 39, joined PP&L in 1984 in the Procurement Department. He was named procurement specialist in 1986 and senior procurement specialist in 1991, before taking his current position in 1994. A resident of Bethlehem, Persa is a graduate of Franklin and Marshall College with a degree in political science.