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Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit X-From: "Rice, Mark" <mrice@FTENERGY.COM< X-To: ENERGYINSIGHT@SPECTOR.FTENERGY.COM X-cc: X-bcc: X-Folder: \Robert_Badeer_Aug2000\Notes Folders\All documents X-Origin: Badeer-R X-FileName: rbadeer.nsf In Energy Insight for Friday, August 25 In Energy Insight Today (Blue Banner, all subscribers) With more power in the possession of fewer companies, the amount of generating capacity a big utility needs to compete in the marketplace is rising. Find out just how many tens of thousands of megawatts constitutes "big" these days, including a list of the biggest, at http://www.einsight.com. Also in Energy Insight Today, European news headlines from FT Energy's team of London-based editors. In Energy Insight 2000 (Red Banner, premium-pay access only) In Energy Insight Energy Services: Energy industry business-to-business exchanges could save utilities millions of dollars in procurement and billing, but first they must head off antitrust issues that have plagued other business sectors. Details at http://www.einsight.com. In Energy Insight Fuels: Environmental concerns about coal, supply shortages in natural gas plus improvements in the efficiency and design of nuclear plants may equate to a rebound in uranium-fueled power. Read about it at http://www.einsight.com. ******************** News Brief +High Cost of Oil and Natural Gas Puts FPL $518 Million Behind in Fuel Expense Recovery Faced with skyrocketing oil and natural gas prices and heavy seasonal demand for electricity, Florida Power & Light Company has filed preliminary paperwork with the Florida Public Service Commission identifying $518 million in expenses above projections for fuel burned to produce electricity in 2000. FPL will file with the Commission in September for permission to recover the expense in customer bills beginning Jan. 1, 2001. Part of this increase will be offset by a refund to customers that is currently estimated to be $75 million to $100 million. The refund is pursuant to an agreement reached in April 1999 with the Office of the Public Counsel and the FPSC that provides for revenue sharing between FPL and its customers, as well as a 6% annual rate reduction for three years. As a result of the forecasted fuel costs and the expected rebate, residential electric rates could increase by approximately 13% per kilowatt-hour. The cost of oil used to generate electricity has more than doubled since the first quarter of 1999 and has not been this high since the Gulf War in 1990. Since January 2000, oil prices have increased 44% per barrel. Natural gas prices also have risen unabated, climbing 77% since January 2000. With the onset of winter, natural gas prices may increase further as demand for heating fuel increases. ///////////////////// Market Brief Thursday August 24 Stocks Close Change % Change DJIA 11,182.74 38.1 0.3 DJ 15 Util. 358.51 (5.7) (1.6) NASDAQ 4,053.28 42.3 1.1 S&P 500 1,508.31 2.3 0.2 Market Vols Close Change % Change AMEX (000) 50,373 (7,710.0) (15.3) NASDAQ (000) 1,548,008 85,370.0 5.5 NYSE (000) 825,146 (41,307.0) (5.0) Commodities Close Change % Change Crude Oil (Oct) 31.63 (0.39) (1.23) Heating Oil (Sep) 0.9533 (0.00) (0.29) Nat. Gas (Henry) 4.54 (0.07) (1.43) Palo Verde (Sep) 177 0.00 0.00 COB (Sep) 191 8.00 4.19 PJM (Sep) 33 0.50 1.52 Dollar US $ Close Change % Change Australia $ 1.745 (0.01) (0.40) Canada $ 1.487 0.00 0.10 Germany Dmark 2.166 (0.01) (0.46) Euro 0.9017 (0.00) (0.11) Japan _en 106.83 (0.23) (0.21) Mexico NP 9.205 (0.02) (0.18) UK Pound 0.6749 0.00 0.25 Foreign Indices Close Change % Change Arg MerVal 470.51 2.87 0.61 Austr All Ord. 3,330.40 7.70 0.23 Braz Bovespa 17,310.96 (139.48) (0.81) Can TSE 300 11,178.98 71.17 0.64 Germany DAX 7,230.26 (2.52) (0.03) HK HangSeng 17,439.70 12.30 0.07 Japan Nikkei 225 16,670.82 234.17 1.40 Mexico IPC 6,293.55 (73.45) (1.17) UK FTSE 100 6,557.04 (9.20) (0.14) Source: Yahoo! and NYMEX
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