Mr. Philip E. Bell

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  www.jacksonsun.com/apps/pbcs.dll/article?AID=/20070922/ - [Cached Version]
  Published on: 9/22/2007    Last Visited: 9/22/2007  

  The company delayed the offering after recent market turmoil reduced expected profit margins, said Philip Bell, vice president of energy supply at Tennergy.
  
  "The subprime lending that a lot of institutions were doing has disrupted the markets," he said.
  
  Revenue from the bonds will be used to finance the purchase of 550 billion cubic feet of natural gas over a 20-year period.It is the largest ever pre-paid natural gas deal in Tennergy's 14-year history.
  
  The original August bond issuance would have allowed Tennergy to purchase natural gas at an estimated 60 cents to 70 cents discount to market price over the 20-year period.Disruption in the lending markets, however, reduced that savings to between 40 cents and 45 cents, Bell said.
  
  "The market turned against us in terms of what the project was going to generate (and) the savings that we would get," he said.
  
  The locally-based acquisition company expects to generate around $1.5 million annually in profits, excluding legal and other fees, if it can lock in the 60 cents to 70 cents discount.
  
  Bell said his company did not know when the bonds would be taken to market, but improving market conditions could allow Tennergy to issue the bonds within the next three to four weeks.
  ...
  Jackson residents have no obligation to repay any portion of the $2.6 billion or so borrowed should Tennergy default on the bond issuance, Bell has said previously.
  
  That responsibility falls on JPMorgan Chase Co., which is backing the project.Should one of the municipalities or suppliers involved in the project be unable to pay Tennergy, JPMorgan Chase & Co. would make the payment for them, Bell said.
  
  Tennergy also is paying a bond insurance company to insure the bonds, Bell said.

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  www.jacksonsun.com/apps/pbcs.dll/article?AID=/20070805/ - [Cached Version]
  Published on: 8/5/2007    Last Visited: 8/5/2007  

  The pre-pay deal will allow the local energy acquisition company to purchase natural gas at an estimated 60 cents to 70 cents below the market price throughout the 20-year time frame, said Philip Bell, vice president of energy supply at Tennergy.
  
  "We expect a 10 percent discount on the cost of gas to all participants," he said.
  
  Tennergy supplies natural gas to the Jackson Energy Authority.The price Tennergy will pay for the natural gas still will fluctuate; so, energy authority customers still will see increases or decreases in natural gas charges.The prepay agreement simply allows Tennergy to buy the fuel at a constant discount.
  
  "It will always be around 60 (cents) to 70 cents less than the market price," Bell said.
  ...
  "That would generate about $1.5 million annually in profits (for Tennergy)," Bell said, "not including legal fees and other costs."
  
  How much savings JEA and other utility customers will see depends on the price of the fuel and whether the companies pass the savings onto customers or use the additional funds for projects or other expenses.
  
  Jackson residents have no obligation to repay any portion of the $2.6 billion borrowed should Tennergy default on the bond issuance, Bell said.That responsibility falls on JPMorgan Chase Co., which is backing the project.Should one of the municipalities or suppliers be unable to pay Tennergy, JPMorgan Chase & Co. would make the payment for them, Bell said.
  
  "JPMorgan is allowing that if something catastrophic happens, the debt will be paid by its parent company," Bell said."(Any) obligation to the city or Tennergy is just not there."
  
  Tennergy also is paying a bond insurance company to insure the bonds, Bell said.
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  If no one in the group purchases the excess, Tennergy could then look for outside buyers, Bell said.
  
  "It would not be difficult to find buyers, because we would always be selling at a discount (to market)," he said.
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  Source: Philip E. Bell, vice president Energy Supply for Tennergy Corporation

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  cardmarketing.faulknergray.com/BBGPC08/agenda.html - [Cached Version]
  Published on: 5/1/2008    Last Visited: 5/1/2008  

  Philip BellVice President Energy SupplyTennergy Corporation

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  www.jaxnews.com/news/2007/jn-localnews-0411-jbacchus-7d - [Cached Version]
  Published on: 4/11/2007    Last Visited: 4/13/2007  

  Also during the work session, the council heard from Karen Gandy of Prior Energy, a division of BP Gas Power, and Philip Bell, the vice president of Tennergy, who proposed a pre-paid natural gas project for the city.
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  BP has the equity gas, they've got the resources to do whatever it is we need to do to deliver gas on any pipeline," said Bell as he explained how far-reaching the project may become.

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  American Public Gas Association - Committees - [Cached Version]
  Published on: 1/31/1999    Last Visited: 12/23/2003  

  Chairman - Philip BellThe Tennergy Corporation, Jackson, TNpbell@tennergy.com

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  Attendee List - [Cached Version]
  Last Visited: 8/11/2009  

  Philip Bell Tennergy Corporation Vice President

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  Attendee List - [Cached Version]
  Published on: 6/9/2003    Last Visited: 8/11/2009  

  Phil Bell Vice President of Energy Supply The Tennergy Corporation

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  Attendee List - [Cached Version]
  Published on: 6/9/2003    Last Visited: 9/25/2008  

  Phil Bell Vice President of Energy Supply The Tennergy Corporation

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  Products & Services - [Cached Version]
  Published on: 1/17/2000    Last Visited: 2/1/2001  

  Philip E. Bell, Vice President
  
  TENNESSEE ENERGY ACQUISITION COROne Public SquareSuite 236Clarksville, TN 37040 (931) 920-3499Fax : (931) 920-3503

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  Standard FCO Fax - [Cached Version]
  Published on: 1/22/2004    Last Visited: 1/22/2004  

  Mr Philip Bell (Marketing Director)
  
  E-mail: pulse@pulse.com.ua

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