US Power Generating Company Announces Appointment of Mark R. Sudbey as Chief Executive Officer
New York, NY, September 9, 2008 — US Power Generating Company (”USPowerGen”), announced today the appointment of Mark R. Sudbey as Chief Executive Officer. Mr. Sudbey joined USPowerGen in December 2005 and has been its President and Chief Operating Officer responsible for day to day operations. Prior to that appointment he was with Reliant Energy where he served as President – New York, Southeast and Midwest Regions and has over fifteen years of experience in the power and energy industry. Mr. Sudbey replaces Jacob J. Worenklein, the founder of USPowerGen, who has resigned to pursue other opportunities. Mr. Worenklein founded a USPowerGen predecessor company in 2003 to acquire US merchant power projects and other unregulated power assets. The Company now owns and operates eight power generation facilities with a total capacity of over 5,000 Megawatts, servicing the high demand New York-ISO and ISO-New England deregulated markets.“I am excited to have the opportunity to lead USPowerGen as it continues to grow and establish itself as a leading operator of power generation facilities,” said Mark Sudbey. “I want to thank Jay Worenklein for his contributions in establishing this Company and building a solid foundation for its future. We will continue to work to enhance our assets, improve our operations and solidify our financial position with the goal of providing value for our customers, employees and shareholders.”“Mark has a proven track record in the power industry and at USPowerGen. I have tremendous respect for Mark Sudbey’s knowledge of the industry and his thoughtful and realistic vision for USPowerGen,” said Jay Worenklein. “I am comforted as I leave USPowerGen for other opportunities that the Company is left in such capable hands.”
About USPowerGen
USPowerGen, through its subsidiaries Astoria Generating Company Holdings, L.L.C. and EBG Holdings LLC, owns and operates eight power generation facilities with a total capacity of over 5,000 Megawatts. These subsidiaries sell their energy and capacity into the NYISO and ISO-New England deregulated markets, representing generation sufficient to serve approximately 20% of the overall load in New York City as well as approximately 50% of the overall load in the Boston metropolitan area. More information regarding USPowerGen can also be found at www.uspowergen.com.