OMAHA, Neb. – Tenaska has announced the promotion of Fred Hunzeker to the role of president and CEO of Tenaska Marketing Group, the umbrella group of Tenaska’s energy marketing companies. John Obermiller was also promoted to chief financial officer of the group.
Tenaska Marketing Group includes the natural gas marketing companies Tenaska Marketing Ventures and Tenaska Marketing Canada (together TMV), fuels and agricultural commodities marketer Tenaska Commodities, LLC and liquefied natural gas (LNG) fuels developer and marketer Tenaska NG Fuels, LLC (TNG Fuels). The group generates diverse earnings through multiple business strategies, including supply, market and logistical services as well as asset optimization, hedging services and portfolio management for its customers. Other strategies include time-spread, locational, commodity and product-grade arbitrage.
As chief executive officer for Tenaska Marketing Group, Hunzeker will oversee the operations of all these marketing affiliates. Hunzeker joined Tenaska in 1991 and helped establish TMV – Tenaska’s first energy marketing affiliate. Since then, TMV has grown to become one of the largest natural gas marketers in North America, managing more than 2 trillion cubic feet of natural gas, or approximately 9 percent of the total U.S. natural gas consumption in 2012. TMV is consistently ranked by Platt’s Gas Daily as one of the top 10 natural gas marketers in North America. Hunzeker has been a key executive at Tenaska and has served as president of TMV since 1995. He will continue to serve as president of TMV in addition to his role as president and CEO of Tenaska Marketing Group. Hunzeker has more than 30 years of experience in the natural gas industry.
As chief financial officer for Tenaska Marketing Group, Obermiller will coordinate mid- and back-office administrative activities among the marketing affiliates. Obermiller joined TMV in 2001 and most recently served as senior vice president of the gas marketing affiliate. Prior to joining Tenaska, Obermiller was involved in natural gas retail aggregation and wholesale marketing businesses. Obermiller has more than 25 years of experience in the industry.
“Fred and John helped usher in Tenaska’s entry and strong record of service in energy marketing,” said Jerry Crouse, Tenaska CEO and vice chairman. “As our market presence has grown from natural gas, to electricity, to fuels and agricultural commodities, they have led the charge in identifying synergies in services and administrative functions to bring more value to our customers.”
Tenaska Commodities (formerly Tenaska BioFuels, LLC), based in Omaha, is a fuels and agricultural marketing and trading company formed in 2006 that provides risk management, logistical and management services to the agricultural and energy industries. Over the past year, Tenaska Commodities has transacted in 25 different agricultural and energy fuels commodities throughout the United States and in 17 foreign countries.
Tenaska’s newest marketing and development affiliate announced in early October, TNG Fuels, works with utilities and customers in marine shipping, mining, rail, trucking and other transportation industries to provide creative solutions to their fuel needs utilizing LNG. TNG Fuels brings a full-service response to customers needing to lower transportation fuel costs and minimize carbon emissions.
These affiliates are backed by the strong balance sheet, financial expertise and reputation that Tenaska has built over more than 25 years in the industry.
“We’ve always focused on meeting our customers’ needs in innovative and collaborative ways with the full resources and skill sets of the marketing units and the Tenaska organization behind us,” Hunzeker said. “The Tenaska Marketing Group platform gives us the administrative backbone and our own combined identity to keep doing that job well and find new opportunities.”
Tenaska, based in Omaha, Neb., is one of the leading independent power producers in the U.S., with regional offices in Dallas, Denver, Pittsburgh and Calgary and Vancouver, Canada. Forbes magazine consistently ranks Tenaska among the 50 largest privately held U.S. companies. Tenaska and its affiliates manage approximately 39,000 megawatts (MW) of assets on behalf of itself, a variety of customers and private equity investors. This includes more than 26,000 MW managed for customers by energy marketing affiliates and approximately 13,000 MW of power generation consisting of 18 power plants. Eight of those plants are owned by Tenaska in partnership with other companies and ten are private equity investments managed by Tenaska Capital Management, LLC. Tenaska and its affiliates have developed and constructed approximately 9,000 MW of natural gas-fueled and renewable power plants. Affiliates provide energy risk management services and are involved in asset acquisition and management; natural gas, power, fuels and agricultural commodities and natural gas fuels marketing; fuel supply; natural gas exploration, production and transportation systems; and electric transmission development. For more information about Tenaska, visit www.tenaska.com.
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