Although El Paso is looking to sell generation capacity to shore up its balance sheet and improve its credit rating, Ralph Eads, president of El Paso Merchant Energy, told attendees the Texan power giant will also pursue a concurrent strategy of snapping up generation assets because of the low valuations. "Despite [of] our plan to strengthen our balance sheet, we are looking for new assets. It's a buyer's market right now and it is a good opportunity for us to buy plants," he said.
February 17, 2002