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=09 =09 [IMAGE] [IMAGE] [IMAGE] Friday, February 1, 2002 Home - Email Prefe= rences - Account [IMAGE] [IMAGE] [IMAGE] SITE ME= NU [IMAGE] [IMAGE] News Power News Gas News Prices Stock = Market Snapshots Industry M & A Power Plants Nuclear Data = Power Marketing Data Company Profiles Investor Owned Utilities C= ooperatives Municipals State / Federal [IMAGE] [IMAGE] NEW = CONTENT! [IMAGE] [IMAGE] Include the following in your Energy Central = Direct: Weekly Power Plays Focused on market trends and future price dire= ction. Publishes extensive price list and market analysis. GasTrader S= ee where natural gas prices are going in the future. [IMAGE] [IMAGE] = SPONSORS [IMAGE] [IMAGE] [IMAGE] [IMAGE] LODESTAR CORPORATION [IMAG= E] Silicon Energy [IMAGE] The Structure Group [IMAGE] Allegro Developme= nt [IMAGE] Itron [IMAGE] KWI [IMAGE] Excelergy [IMAGE] Energy Solut= ions Plus, Inc. [IMAGE] RER [IMAGE] [IMAGE] TALK TO US [IMAGE] = [IMAGE] Ideas Wanted! We are eager to hear your ideas, feedback, and sugge= stions for this product. Together we will create the most useful informati= on tool for the electric power industry. Partners Wanted! Reach over 50,= 000 electric power professionals with your news, analysis, commentary or i= nsight into the industry. Call Mark Johnson at 303-782-5510 [IMAGE] [= IMAGE] AdvertisementLODESTAR CORPORATION ELECTRIC POWER NEWS - TOP ST= ORIES [IMAGE] [IMAGE] [IMAGE] Energy Central's editors have selected the= se as the top stories of the day: Congressional Democrats Pause in Effor= ts to Repeal Utilities Law By Jim Landers, The Dallas Morning News, Jan. 3= 1 Independent Electricity Producers Submit Bids for Wisconsin Energy Corp. = Plans By Lee Bergquist, Milwaukee Journal Sentinel, Jan. 31 More Subpoenas= Issued in Investigation of Texas Public Utility Commission By R.A. Dyer, = Fort Worth Star-Telegram, Texas, Jan. 31 U.S. price cap had little impact o= n Calif power-report WASHINGTON, Jan 31 (Reuters) [IMAGE] [IMAGE] EL= ECTRIC POWER NEWS - MOST REQUESTED [IMAGE] [IMAGE] [IMAGE] These stories= have been most requested by Energy Central members in the last two weeks. = Court overturns approval of AEP, Central SW merger By Julie Vorman, = WASHINGTON, Jan 18 (Reuters) SPECIAL REPORT: U.S. Power Production Scoreca= rd: Who Is Building New Power Plants, And Where? What Fuel Sources Will Be = Used? by Will McNamara, IssueAlert, Jan. 16 (Scientech) Enron's Cutthr= oat Culture Is Deplored by Those It Served to Profit By Claudia Kolker,= The Boston Globe, Jan. 27 Enron energy services clients may take profit h= its By Carolyn Koo, NEW YORK, Jan 16 (Reuters) FERC to create electric= ity market monitoring unit WASHINGTON, Jan 16 (Reuters) [IMAGE] [IM= AGE] GAS INDUSTRY NEWS - TOP STORIES [IMAGE] [IMAGE] [IMAGE] Energy Ce= ntral's editors have selected these as the top stories of the day: Cold = weather fuels near-record gas use in Calif. SAN FRANCISCO, Jan 31 (Reuters= ) Dynegy takes control of pipeline from Enron By C. Bryson Hull, HOUSTON, = Jan 31 (Reuters) FERC drops Calif price reports amid US data review WASHIN= GTON, Jan 31 (Reuters) [IMAGE] [IMAGE] [IMAGE] WSI Energycast Tr= ader [IMAGE] [IMAGE] IN THIS ISSUE [IMAGE] [IMAGE] [IMAGE] Daily= Edition for paul.d.thomas@enron.com [IMAGE] Electric Power News Rest= ructuring Today RER's eMetrix Load Forecast: CAL ISO Electric Power News= - Top Stories Electric Power News - Most Requested Gas Industry News - T= op Stories Selected Content Not In This Issue Utility Spotlight= - Every Monday Utility Stock Price - Top Gainers - Each Tuesday [IMAGE]= [IMAGE] [IMAGE] ELECTRIC POWER NEWS [IMAGE] [IMAGE] [IMAGE]= [IMAGE] [IMAGE] Selected 86 of 86 Articles Today! THESE ARTICLES BRO= UGHT TO YOU BY Gain the competitive intelligence you need to make the b= est business decisions. Energy Central's Operating Plant Experience Code (= OPEC) is a must for all aspects of analyzing nuclear power plant performan= ce. If you need to identify or compare trends of lost generation, OPEC can= help. Wouldn't it be great to be able to identify causes of poor performan= ce? OPEC can be used to set performance criteria at the system, component,= or unit level. Don't delay! Download a free trial version of OPEC today = at http://www.energycentral.com/sections/databases/OPEC Top Stories= U.S. price cap had little impact on Calif power-report WASHINGTON, J= an 31 (Reuters) Wholesale electricity prices eased in California last summe= r due to conservation efforts and a slowing economy, not because of a price= cap imposed by federal regulators, the Federal Energy Regulatory Commissio= n said on Thursday. [IMAGE] Congressional Democrats Pause in Efforts to = Repeal Utilities Law By Jim Landers, The Dallas Morning News, Jan. 31 The= Enron scandal is giving congressional Democrats second thoughts about effo= rts to repeal a 1935 law limiting the business activities of utilities that= own power plants in several states. [IMAGE] More Subpoenas Issued in In= vestigation of Texas Public Utility Commission By R.A. Dyer, Fort Worth S= tar-Telegram, Texas, Jan. 31 The Travis County district attorney's office h= as issued additional subpoenas in its investigation of reports of irregular= ities at the Texas Public Utility Commission, according to a commission sta= ff member. [IMAGE] Independent Electricity Producers Submit Bids for Wis= consin Energy Corp. Plans By Lee Bergquist, Milwaukee Journal Sentinel, J= an. 31 An organization of independent electricity generators pressed Wednes= day to be included in a major initiative by Wisconsin Energy Corp. to spend= $7 billion to build and upgrade power plants in the state. Energy Se= curity Nuke Plants Warned After Attack Tip By H. JOSEF HEBERT Associa= ted Press Writer, WASHINGTON, Jan 31, 2002 (AP Online via COMTEX) -- Acting= on a tip from an al-Qaida operative, the government alerted nuclear power = plants last week that terrorists may be planning an airplane attack on a po= wer reactor, government officials said Thursday. Defense chief warns = of threats far deadlier than Sept. 11 attacks By ROBERT BURNS AP Military= Writer, WASHINGTON, Jan 31, 2002 (AP WorldStream via COMTEX) -- Defense Se= cretary Donald H. Rumsfeld said Thursday the United States must prepare now= for potential surprise attacks "vastly more deadly" than the Sept. 11 terr= orist hijackings. California Crisis FERC joins increasing number o= f Enron probes NEW YORK, Jan 31 (Reuters) - Federal energy regulators sai= d they launched an investigation on Thursday into allegations that bankrupt= Enron Corp. unfairly boosted wholesale power prices during California's el= ectricity crisis last year. Charges that Enron Inflated California El= ectricity Prices Get Mixed Reactions By Steve Johnson, San Jose Mercury N= ews, Calif., Jan. 31 Charges that Enron may have artificially inflated the = cost of West Coast electricity as recently as December are merely the lates= t in a long series of allegations about power firms manipulating prices. = Calif Asks Feds Help in Enron Probe Jan 31, 2002 - United Press Inter= national California Thursday asked federal energy regulators to look into E= nron's marketing activities in the state in order to prove suspicions the t= oppled energy giant manipulated electricity prices during last winter's pow= er crisis. [IMAGE] ADVERTISEMENT Gain exposure to thousands of energy= professionals with your company's white papers today. Energy Central, the= industry's most comprehensive on-line information resource is gathering w= hite papers for inclusion the newest section of its Research Report Center= . Don't be left out - to learn how to submit your white papers, e-mail mjo= hnson@energycentral.com. http://www.energycentral.com/sections/research / = National Energy Policy Agency to Sue to Get Records on Cheney's E= nergy Task Force By Anne E. Kornblut, The Boston Globe, Jan. 31 Congressi= onal investigators announced plans yesterday to sue the White House, pledgi= ng to take Vice President Dick Cheney to court to determine what role Enron= Corp. and other energy lobbyists may have played in shaping administration= policy. Bush Not Asserting Privilege By MARCY GORDON AP Business W= riter, WASHINGTON, Jan 31, 2002 (AP Online via COMTEX) -- The Bush administ= ration is arguing that the presidency would be harmed by the release of doc= uments Congress' investigators are seeking - yet is not using the political= ly charged term "executive privilege." Memo sheds light on Cheney-Enr= on links-report SAN FRANCISCO, Jan 30 (Reuters) Former Enron Chairman Ken= Lay handed U.S. Vice President Dick Cheney a memo last year that included = suggestions resembling elements of the Bush administration's energy policy,= the San Francisco Chronicle reported on Wednesday. Competition & Dere= gulation Many States Reconsidering Electric Competition, MIT Professor = Says By Alan D. Fischer, The Arizona Daily Star, Tucson, Jan. 30 Short-ci= rcuited by California's current calamities, electric competition has largel= y failed to produce expected benefits like lower energy costs, an MIT energ= y economist said. Mergers, Acquisitions & Divestitures Duke says t= o sell engineering unit to nuclear supplier CHARLOTTE, N.C., Jan 31 (Reut= ers) Power company Duke Energy Corp. on Thursday said it will sell its Duke= Engineering & Services unit as part of a plan to streamline its assets to = focus on its wholesale energy business. Scottish Power will look for = acquisitions to boost core utility business LONDON, Jan 31, 2002 (AFX-UK = via COMTEX) -- Scottish Power PLC will pursue acquisitions to boost its co= re utility business, following completion of the demerger of Thus and the r= efinancing of Scottish & Southern Water. Legislation/Regulation Se= nate probe finds Enron uncooperative-Dorgan WASHINGTON, Jan 31 (Reuters) = - Enron Corp. has not cooperated with a Senate Commerce Committee inquiry i= nto the energy trading firm's collapse, but former executives of the compan= y have agreed to testify before the committee, said U.S. Sen. Byron Dorgan = on Thursday. Dems Focus on Enron Debacle By DAVID ESPO, WASHINGTON,= Jan 31, 2002 (AP Online via COMTEX) -- Seated in a circle, Democratic Hous= e leaders listening intently, former employees of Enron poured out the deta= ils of their layoffs, their depleted retirement savings, their bleak financ= ial futures. FACTBOX-Congress hearings schedule on Enron/Andersen W= ASHINGTON, Jan 31 (Reuters) The following are the hearings which the U.S. C= ongress has firmly scheduled on the collapse of Enron Corp., its auditor An= dersen, and related regulatory issues over the coming weeks. Latest items a= dded are marked *. Enron Political Spending Raises Debate By JIM AB= RAMS Associated Press Writer, WASHINGTON, Jan 30, 2002 (AP Online via COMTE= X) -- A Senate-passed campaign finance bill due for a vote in the House wou= ld not stop corporations such as Enron from using big contributions to infl= uence the political process, says a group opposed to the legislation. = Rates Nevada Power Doesn't Rule Out Additional Rate Requests By John = G. Edwards, Las Vegas Review-Journal, Jan. 30 The public bashing may be ove= r, but a former utility regulator used a final public comment hearing Tuesd= ay to warn that Nevada Power's need for rate increases may not be. Pu= get Sound Energy's Rate Request Gets Harsh Reception from Washington Agency= By Al Gibbs, The News Tribune, Tacoma, Wash., Jan. 31 Puget Sound Energy= should receive less than one-quarter of the $170 million interim rate incr= ease it has requested, the staff of the state Utilities and Transportation = Commission said Wednesday. General Bank of America Fires Three Emp= loyees Who Dealt with Enron By Rick Rothacker, The Charlotte Observer, N.= C., Jan. 31 Bank of America Corp. fired three employees who managed the fir= m's business with Enron Corp. after the Charlotte bank lost $231 million wh= en the energy trader filed for bankruptcy court protection. Enron Emp= loyee Aid Fund Raises Funds By LISA FALKENBERG Associated Press Writer, H= OUSTON, Jan 31, 2002 (AP Online via COMTEX) -- One of the funds to help lai= d-off Enron Corp. workers has taken in more than $396,000 in the past week,= primarily from politicians and political groups donating campaign contribu= tions they received from the energy giant before it filed for bankruptcy. = Updates on Three Issues: Montana Power, Entergy's Purchase of Vermont = Yankee and Consolidation of RTOs in the Northeast By Will McNamara, Issue= Alert, Jan. 31 (Scientech) Today's column provides some updates on three em= erging issues that have been addressed in previous columns, along with anal= ysis that should provide context to the current developments. Special Offe= r from this Publisher! MSN high-speed plans delayed by Enron woes = NEW YORK, Jan 31 (Reuters) Microsoft Corp.'s Internet unit MSN said on Thur= sday its plans to sell high-speed access to homes would be delayed by the r= ecent woes of energy giant Enron Corp. Enron Developments at a Glance= By The Associated Press, Jan 31, 2002 (AP Online via COMTEX) -- Develop= ments related to the Enron collapse and investigation: Houston Coffee= Bar Displays `Art Exhibit' of Former Enron Employees By Daniel J. Vargas= , Houston Chronicle, Jan. 31 Renoir it's not, but Enron is hot. Tradin= g/Marketing French Powernext says five more members signed up PARIS, = Jan 31 (Reuters) Powernext said on Thursday five more energy companies have= joined the two-month-old French electricity exchange, taking the total to = 15 members. Deals/Contracts Hidrocantabrico Signs Agreement with E= ni Group Jan 30, 2002 - FT World Media Abstracts via Comtex Spanish power= utility Hidrocantabrico has reached an agreement whereby Italian group ENI= will supply it with gas, according to sources from the Spanish company. = Power Pricing/Supply Going Short for the Shortest Month Jan. 30 (E= nergy Market Report) Day-ahead electricity prices in the Western U.S. were = mostly higher Wednesday on continued cold weather. Special Offer from this = Publisher! Transmission & Reliability Bangor Hydro Appeal Denied = Bep Ruling Hurts Power Line Plan Jan 31, 2002 - Bangor Daily News, Bangor= , ME Bangor Hydro-Electric Co.'s efforts to build a new power line across e= astern Maine suffered another setback Wednesday when the chairman of the Bo= ard of Environmental Protection ruled the utility cannot change its applica= tion during the review process. Storm hits Plains states with huge po= wer outages SAN FRANCISCO, Jan 31 (Reuters) - About half a million utilit= y customers in the Plains states lost power on Thursday after a deadly ice-= cold winter storm swept through the region. Power Projects Lordsbu= rg, N.M., Businessman Criticizes Power-Plant Incentives By Rosalie Raybur= n, Albuquerque Journal, N.M., Jan. 31 Lordsburg's mayor and business leader= s have lauded PNM's proposed power plant in the city and say it will boost = the city's ravaged economy. State Regulators Reject Power Plant as Un= needed Jan 31, 2002 - The Arizona Republic (www.azcentral.com) Arizona re= gulators scuttled plans Wednesday for the $1 billion Toltec Power Station, = saying that its electricity was not needed and that the plant would harm th= e environment of central Arizona's Santa Cruz River Valley. Bill Puts= Calpine Plant in Jeopardy Jan 31, 2002 - The Herald Rock Hill, SC A comp= any planning to build a $400 million gas-fired electric generator in York C= ounty is sounding the alarm that it will abandon the project if a state Hou= se bill calling for a moratorium becomes law. Legal Judge to Tell = Enron to Release Internal Report By Eric Berger, Houston Chronicle, Jan. = 31 A federal bankruptcy judge said Wednesday he will order Enron Corp. to r= elease an internal report investigating its questionable partnerships and a= ccounting practices. States Tussle for Right to Be Lead Plaintiff in = Class-Action against Enron The Miami Herald, Jan. 31 The battle over Enro= n's assets is rapidly becoming a war between the states. Lay Convicti= on Is Unlikely, Say Legal Analysts By Bill Murphy, Houston Chronicle, Jan= . 31 Legal experts differ on the viability of what appears to be shaping up= as former Enron Chairman Ken Lay's defense -- that auditors, outside legal= counsel and company executives kept him in the dark about the practices th= at led to the firm's collapse. Houston Law Firm Cuts Ties with Enron = By R.G. Ratcliffe, Houston Chronicle, Jan. 31 The Houston law firm of Bra= cewell & Patterson has severed all ties with bankrupt Enron Corp., the law = firm's managing partner said Wednesday. Renewables Wind Farm Plann= ed for Addison, Wis., Wasn't Worth Legal Fight, FPL Energy Says By Don Be= hm, Milwaukee Journal Sentinel, Jan. 31 A Florida corporation walked away f= rom its plan to build a wind farm in Addison rather than mounting a costly = legal challenge of town restrictions on the project, company representative= s said Wednesday. ENEL to study building, refurbishing 7 power plants= in Bulgaria MILAN, Jan 31, 2002 (AFX-Europe via COMTEX) -- ENEL SpA sai= d its Enelpower unit has signed a memorandum of understanding to build thre= e new hydroelectric plants and refurbish four existing hydroelectric plants= in Bulgaria. Norway to use windmills to create energy Jan 31, 2002= (NORDIC BUSINESS REPORT via COMTEX) -- The Norwegian government is report= edly planning to permit the building of around 700 windmills along the coun= try's coast over the next few years. Plants NY lets public comment= on Orion Astoria power plant NEW YORK, Jan 31 (Reuters) New York will gi= ve the public a chance to comment on Orion Power Holdings Inc.'s proposed e= xpansion of its Astoria power plant in New York City, the state Siting Boar= d said in a statement Thursday. People Enron's Interim CEO Aims to= Rebuild Company, Save Jobs By Tom Fowler, Houston Chronicle, Jan. 31 Enr= on's new chief executive officer said he has no interest in finding out who= 's to blame for what went wrong at the energy giant, but will instead focus= on revitalizing the business and preserving jobs. Concerned Former E= nron Employee's E-mail Landed Her in Human Resources By Julie Mason, Hous= ton Chronicle, Jan. 31 A one-time Enron Corp. manager who warned Chairman K= en Lay in August about questionable accounting practices was sent to human = resources for a talk about employee morale, her attorney said Wednesday. = California Gubernatorial Candidate Returns Enron Donation By Emily Ba= zar, The Sacramento Bee, Calif., Jan. 30 One week after asserting on live t= elevision that "I haven't gotten any money from Enron," Republican gubernat= orial candidate Richard Riordan revealed Tuesday that his campaign has sinc= e returned a $500 campaign contribution to the beleaguered energy trader. = Interview: Rep. Greenwood vs. Enron By KATHY A. GAMBRELL, Washington= Reporter, WASHINGTON, Jan 30, 2002 (United Press International via COMTEX)= -- Rep. James Greenwood, R-Pa., said his first emotion was anger when he = heard Houston-based Enron Corp. had filed the largest bankruptcy action in = history, leaving thousands of employees out of work and with virtually wort= hless retirement and pension accounts. Enron board member temporarily= resigns press watchdog job LONDON, Jan 31, 2002 (AP WorldStream via COMT= EX) -- John Wakeham, a prominent Conservative politician whose seat on the= board of the disgraced Enron Corp. has made him the center of speculation = about the corporate scandal's British links, temporarily stepped aside Thur= sday from his job as head of a press watchdog group. Enron Executive = Mourned in Hometown By DUNSTAN PRIAL Associated Press Writer, AMITYVILLE,= N.Y., Jan 30, 2002 (AP Online via COMTEX) -- J. Clifford Baxter, a former = Enron executive who committed suicide as the scandal surrounding the bankru= pt energy trading giant widened, was remembered Wednesday as a loving famil= y man who died too young. Wife Publicly Defends Former Enron CEO By= Alfred Lubrano, The Philadelphia Inquirer, Jan. 31 The wife of the extreme= ly unpopular former CEO of Enron did the full Stand-By-Your-Man routine ear= lier this week, with tears. Labor/Human Resources Eight Employees = File Racial-Bias Suit against South Carolina Electric & Gas By Dave L'Heu= reux, The State, Columbia, S.C., Jan. 31 A lawsuit filed Wednesday in U.S. = District Court alleges that South Carolina Electric & Gas Co. and its paren= t company, SCANA Corp., have long discriminated against black employees. = Former Enron Employees Take Case to Capitol By Roma Khanna, Houston C= hronicle, Jan. 31 Former Enron employees took their stories to Capitol Hill= on Wednesday, asking lawmakers to seek remedies for their hardships as vig= orously as they pursue ongoing congressional investigations. Workers = at Beaver County, Pa., Power Plant Reject Contract from FirstEnergy By Ji= m McKay, Pittsburgh Post-Gazette, Jan. 31 The 450 workers who operate and m= aintain the Beaver Valley Nuclear Power Plant have overwhelmingly rejected = a four-year contract offer from FirstEnergy Corp., prompting a federal medi= ator to call for a resumption of talks today. Minneapolis Utility to = Cut 500 More Jobs By Tim Huber, Saint Paul Pioneer Press, Minn., Jan. 31 = Electric and gas utility Xcel Energy said Wednesday it will cut another 500= jobs at its Minneapolis headquarters and elsewhere to further shrink costs= since the merger of Northern States Power and Denver-based New Century Ene= rgies 18 months ago. Nuclear UK govt declines comment on claims it= will allow new nuclear power plants LONDON, Jan 31, 2002 (AFX-UK via COM= TEX) -- The government has declined to comment on claims it is ready to pa= ve the way for the construction of new nuclear power stations. Pt Lep= reau, New Brunswick nuke returns to service NEW YORK, Jan 31 (Reuters) NB= Power said its 635-megawatt Point Lepreau nuclear station in New Brunswick= , Canada returned to service Thursday from a two-day outage. Three Nu= ke Power Plants Ready for Use This Year BEIJING, Jan 31, 2002 (Xinhua via= COMTEX) -- Three of China's four nuclear power plants under construction = are expected to begin operation this year, a Chinese nuclear official annou= nced on January 30. Financial Enron, Others Found Delaware Invitin= g for Establishment of Subsidiaries By Joseph N. DiStefano, The Philadelp= hia Inquirer, Jan. 31 To manage its far-flung financial interests, avoid lo= cal taxes, and shroud high-stakes deals from investor scrutiny, Enron Corp.= organized a sprawling network of 2,000 corporate subsidiaries in 62 countr= ies and 23 U.S. states. Allentown, Pa.-Based Energy Holding Firm to R= aise Dividend 36 Percent By David DeKok, The Patriot-News, Harrisburg, Pa= ., Jan. 31 PPL Corp. says it will raise its quarterly dividend by almost 36= percent, softening the blow to stockholders of financial setbacks that hur= t earnings in the fourth quarter of 2001 and the full year. Shadow Ca= st by Enron Debacle Extends over St. Paul, Minn.-Area Financial Firms By = Tim Huber, Saint Paul Pioneer Press, Minn., Jan. 30 The Enron debacle has u= nleashed a torrent of criticism about how badly most securities analysts mi= sunderstood the Texas energy-trading company's finances and missed signs of= its financial problems. Enron's Deals Were Fraught with Financial Ri= sks, Experts Say Chicago Tribune, Jan. 31 Behind the murky bookkeeping an= d the razzle-dazzle marketing, Enron Corp. offered a simple sales pitch: Ou= r crystal ball is better than everyone else's. Enron Executive's Emai= l Warned of Hidden Losses of At Least $500 Million Chicago Tribune, Jan. = 31 An internal Enron Corp. email sent from a mid-level manager to the compa= ny's board of directors warned last August of hidden losses totaling $500 m= illion or more, false accounting practices and flagrant mismanagement withi= n the doomed energy company's upper ranks. Enron probe may give Wall = Street another black eye By Brian Kelleher, NEW YORK, Jan 30 (Reuters) Wa= ll Street jumped at the chance to invest in private offshoots of Enron Corp= . before the high-flying energy trader's collapse, using investment banking= ties to get in on the ground floor of deals that promised eye-popping retu= rns. Mirant takes aggressive stance on balance sheet NEW YORK, Jan = 30 (Reuters) - Mirant Corp., a power trader that has been hurt by the fallo= ut from Enron Corp., on Wednesday said it would cut jobs, lower its capital= spending and cancel plans for two power plants in order to shore up its ba= lance sheet. Ontario names lead underwriters for Hydro One IPO TORO= NTO, Jan 31 (Reuters) The Ontario government said on Thursday it had chosen= BMO Nesbitt Burns, Goldman Sachs and RBC Dominion Securities as joint lead= underwriters to take provincial power distributor Hydro One public. = Major Accounting Reform Faces Strong Challenge from Industry By Russell G= rantham, The Atlanta Journal-Constitution, Jan. 31 Arthur Andersen's failur= e to warn of Enron's coming collapse is propelling efforts to ban practices= that industry critics say have compromised the accounting industry's watch= dog role. Economy, Enron Debacle Pressure Surety Bond Market By Jim= Parker, The Post and Courier, Charleston, S.C., Jan. 30 Enron's financial = collapse is leaking into the surety bond market, with insurers on the hook = for $2 billion to pay off the energy trading giant's oil and gas futures co= ntracts and carriers looking closer at raising rates and approving projects= , whether in Houston or Charleston. US accountants face new master fr= om Enron backlash By Kevin Drawbaugh, WASHINGTON, Jan 30 (Reuters) The co= zy self-regulatory system that coddles U.S. corporate bean-counters looked = headed for the shredder on Wednesday as lawmakers react to Enron's collapse= and a wave of Wall Street accounting fears. FORUM-World CEOs face up= to insurance price hikes By Bill Rigby, NEW YORK, Jan 31 (Reuters) Bosse= s at the World Economic Forum have a new gripe this year -- the shocking co= st of insurance. Financial - Ratings RESEARCH ALERT - J.P. Morgan = lowers Xcel Energy NEW YORK, Jan 31 (Reuters) J.P. Morgan said on Thursda= y that it lowered its investment rating on Xcel Energy Inc. to "market perf= orm" from "long term buy" and it is suspending its target price on the stoc= k. National Grid falls as Lehman says stock reached fair value LOND= ON, Jan 31, 2002 (AFX-UK via COMTEX) -- Shares in National Grid Group PLC = were trading lower at midday, after Lehman Brothers said the electricity gr= oup already trades at fair value, dealers said. Financial - Results = Scot Power Q3 shows U.S. recovery, UK struggle LONDON, Jan 31 (Reuters)= - Scottish Power Plc on Thursday reported a strong recovery in third-quart= er profits, with a better performance from its accident-prone U.S. electric= ity operations more than offsetting the erosion of UK profits. Avista= fourth-quarter net income drops 91 percent SPOKANE, Wash., Jan 31 (Reute= rs) Utilities holding company Avista Corp. said on Thursday fourth-quarter = net income dropped 91 percent, dragged down by sharply lower water levels i= n rivers, a primary generator of electricity in the northwestern United Sta= tes. Calpine net falls, weak economy hurts power prices LOS ANGELES= /NEW YORK, Jan 31 (Reuters) - Power producer Calpine Corp. on Thursday repo= rted a 23 percent drop in fourth quarter earnings as weak wholesale electri= city prices linked to a soft economy cut into profits Allegheny Energ= y Q4 earns fall, cancels unit IPO HAGERSTOWN, Md., Jan 31 (Reuters) - Uti= lity holding company Allegheny Energy Inc. on Thursday said its fourth-quar= ter earnings fell as mild weather and a weakened U.S. economy resulted in l= ower energy consumption. Dallas: Txu Reports Annual Earnings Growth = Jan 31, 2002 - Energy24 TXU reported that it earned $3.78 per share of com= mon stock on record revenues of $28 billion, a 27 percent increase, and ear= nings of $980 million for the year ended December 31, 2001, excluding unusu= al items. International Indian lenders invite bids for Enron stake= in Dabhol Power BOMBAY, Jan 31, 2002 (AFX-Asia via COMTEX) -- Indian le= nders to the controversial Dabhol Power Co Ltd - the country's largest fore= ign investment project - have invited bids for the 85 pct equity stake owne= d by Enron Corp and its associates. Mirant Cuts Back in Europe as Ind= ustry Reels over Enron By Matthew C. Quinn, The Atlanta Journal-Constitut= ion, Jan. 31 Mirant Corp. is scaling back its plans to become a major Europ= ean electric power player as it seeks to recover from industry fallout over= Enron Corp.'s collapse. Enron Played Insignificant Part In Electrici= ty Policy: Bueno MEXICO CITY, Jan 30, 2002 (Reforma/Corporate Mexico by I= nternet Securities, Inc. via COMTEX) -- Juan Bueno Torio, who was in charg= e of energy on President Vicente Fox's transition team, denied that Enron p= articipated in a significant way in the development of Fox's project for th= e opening of the electricity sector, reported Mexico City daily Reforma. = Meralco seeking to cut bulk power purchases from Napocor - report MAN= ILA, Jan 30, 2002 (AFX-Asia via COMTEX) -- The Manila Electric Co is tryin= g to reduce its bulk power purchases from the National Power Corp, a Busine= ssWorld source said. Mexico to Reduce Electric Subsidies By LISA J.= ADAMS Associated Press Writer, MEXICO CITY, Jan 31, 2002 (AP Online via CO= MTEX) -- Mexico's state-owned power utility is eliminating some residential= electricity subsidies, creating a flurry of opposition and confusion acros= s the country. TEPCO to establish in-house firms for telecom, gas ser= vice TOKYO, Jan 31, 2002 (Kyodo via COMTEX) -- Tokyo Electric Power Co. = (TEPCO) said Thursday it will set up in-house companies, with accounting au= tonomy, for telecommunications and gas supply services on March 1. Po= wer Deals Delayed By Charlotte Kukunda, Jan 31, 2002 (New Vision/All Afri= ca Global Media via COMTEX) -- THE sale of Uganda's electricity distributi= on and generation concessions, is set for June this year, the Director of U= tility Reform Unit (URU) Emmanuel Nyirikindi has said. Government dec= ides to privatize power generating assets Ecuador, Jan 31, 2002 (El Unive= rso/SABI via COMTEX) -- Salomon Smith Barney has delivered to the Ecuadori= an government the valuation of the assets of electric power distribution co= mpanies slated of privatization. Brazil state generators to be allowe= d to sell "old" energy via auction BRASILIA, Jan 31, 2002 (AFX-Europe via= COMTEX) -- The Energy Crisis Management Committee (GCE) has decided to al= low state-controlled generators to sell so-called "old energy" via public a= uction, official news agency Agencia Brasil quoted GCE chairman and Preside= ntial Chief of Staff Pedro Parente as saying. Marzano Says Enel's Mar= ket Share Must Drop Below 50% Jan 31, 2002 - FT World Media Abstracts via= Comtex Italy's industry minister Antonio Marzano said that energy producti= on must be increased and rates to consumers reduced as they are 20 per cent= higher that the European average. [IMAGE] Powered by Energy Central = ? 2002 CyberTech, Inc. All rights reserved. More News [IMAGE] = [IMAGE] Top [IMAGE] RESTRUCTURING TODAY [IMAGE] [IMAGE] [IMAGE]= [IMAGE] [IMAGE] February 01, 2002 Brownell backs probe of western mark= et Rating firms meet to hear Williams tell its story Northeast po= wer surplus is thin? CORRECTION QUOTE OF THE DAY Arizona reg= ulators block merchant unit NewPower trims gas price in Georgia 3= stories in 1 minute: Powered By US Publishing ? 2002 US Publishin= g. All Rights Reserved. More Info [IMAGE] [IMAGE] Top [IMAGE] RE= R'S EMETRIX LOAD FORECAST: CAL ISO [IMAGE] [IMAGE] [IMAGE] [IMAGE] W= e're sorry, but an unknown error occurred during the production of this blo= ck. [IMAGE] [IMAGE] Top [IMAGE] ABOUT ENERGY CENTRAL PROFESSIONAL = [IMAGE] [IMAGE] [IMAGE] This e-mail service is part of an Energy Centr= al Professional subscription. * Click here to change your preferences. = * Visit Member Services to START, STOP, or CHANGE FORMAT for all of your= e-mail subscriptions. * To STOP receiving this service click here or s= end a message to service@energycentral.com or call Member Services at 303-= 782-5510. Press Releases Submit press releases and other news to pr@ener= gycentral.com . 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