news utilicorp plans spin aquila energy utilicorp wants spin aquila kansas city business journal 09 29 2000 brian cookson utilicorp united inc wants parlay rapid growth aquila energy subsidiary piece new larger aquila kansas city based utility plans spin aquila possibly retaining ownership third selling another third partner offering remainder stock market move could allow aquila engaged primarily trading power natural gas gain hard assets seek higher valuation investors really think value company much higher market currently values values utility 8 aquila spokesman al butkus said aquila moved headquarters kansas city last year engine behind earnings growth utilicorp second quarter year aquila reported earnings interest taxes ebit 49 5 million 113 percent previous year utilicorp whole ebit 103 9 million second quarter 2000 aquila may able attract interest carry image traditional utility butkus said richard stuebi president next wave energy agreed head denver based electricity consulting firm said wall street historically undervalued conglomerates utilicorp general stock market prefers companies clean pure plays 8 stuebi said aquila strategy comes little surprise stuebi much success company said thought aquila would need get bigger compete aspects energy business race scale 8 said aquila also could increase value shareholders looking hard assets match marketing prowess aquila ceo keith stamm said company could address need building new electric generation plant building pleasant hill also could buy generation capacity take partner electric generation capacity stamm said company looking partner keeping two options open finding partner power plants could become easier energy deregulation causes many utilities look separating generating operations power sales distribution stamm said aquila talked several companies announcement could come end year timing initial public stock offering would dependent results search partner butkus said utilicorp sacrificing hold aquila instead executives hoping part infinitely valuable company aquila already moving enter new market trading bandwidth capacity communications networks stamm said bandwidth market potentially several times larger energy market communications networks linked satellite anywhere world gas pipelines require physical connection traders bandwidth market could include telecom companies internet providers either network capacity sell need boost capacity like see volatility seeing 8 stamm said aquila adding crew 35 40 people begin trading bandwidth end year alone however companies houston enron corp also getting bandwidth trading