From: ecdirect-daily@mail.energycentral.com
To: d..thomas@enron.com
Date: 2002-01-27 22:37:29+00:00
Subject: Energy Central Professional Dispatch - 1/28/02


	 	


  [IMAGE] [IMAGE] [IMAGE]     Monday, January 28, 2002  Home  - Email Preferences  - Account        [IMAGE]         [IMAGE]         [IMAGE]    SITE MENU    [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     Cooperatives     Municipals     State / Federal     [IMAGE]   [IMAGE]   NEW CONTENT!    [IMAGE] [IMAGE]   Include the following in your Energy Central Direct:  EREN Network News  A weekly newsletter from the U.S. Department of Energy's (DOE) Energy Efficiency and Renewable Energy Network (EREN).   IntercontinentalExchange Gas Indices  See the Firm Physical Natural Gas traded at over 20 hubs through the IntercontinentalExchange trading platform.     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Call Mark Johnson at 303-782-5510     [IMAGE]   [IMAGE]  AdvertisementLODESTAR CORPORATION      ELECTRIC POWER NEWS - TOP STORIES    [IMAGE] [IMAGE] [IMAGE] Energy Central's editors have selected these as the top stories of the day:    As Heat Increases, White House Will Examine Contracts with Enron, Andersen  By Bennett Roth, Houston Chronicle, Jan. 26 Attorneys in Nevada Utility's Rate Case Take Depositions from Executives  By John G. Edwards, Las Vegas Review-Journal, Jan. 25 Calif. rejects $219 mln Sempra power settlement  SAN FRANCISCO, Jan 25 (Reuters) FERC audit shows flaws in Calif power grid operator  By Chris Baltimore, WASHINGTON, Jan 25 (Reuters)   [IMAGE]   [IMAGE]   ELECTRIC POWER NEWS - MOST REQUESTED    [IMAGE] [IMAGE] [IMAGE] These stories have been most requested by Energy Central members in the last two weeks.    Ex-Enron Execs Launch Own Firm      By BILL BERGSTROM AP Business Writer, PHILADELPHIA, Jan 14, 2002 (AP Online via COMTEX) --  SPECIAL REPORT: U.S. Power Production Scorecard: Who Is Building New Power Plants, And Where? What Fuel Sources Will Be Used?     by Will McNamara, IssueAlert, Jan. 16 (Scientech)  Court overturns approval of AEP, Central SW merger     By Julie Vorman, WASHINGTON, Jan 18 (Reuters)  Virginia Prepares for Deregulation of Electricity Market     By Greg Edwards, Richmond Times-Dispatch, Va., Jan. 12  Report Lists Snags in Texas Electric Deregulation     By R.A. Dyer, Fort Worth Star-Telegram, Texas, Jan. 11   [IMAGE]   [IMAGE]   GAS INDUSTRY NEWS - TOP STORIES    [IMAGE] [IMAGE] [IMAGE] Energy Central's editors have selected these as the top stories of the day:    Alberta Energy, PanCanadian in merger talks  CALGARY, Alberta, Jan 25 (Reuters) - CFTC approves Merchants Exchange energy futures  WASHINGTON, Jan 25 (Reuters) - Kansas Utilities Seek to Recoup Losses from Unpaid Bills  By Scott Rothschild, Journal-World, Lawrence, Kan., Jan. 25   [IMAGE]   [IMAGE]      [IMAGE]   Distributed Generation Case Studies [IMAGE]  [IMAGE]  IN THIS ISSUE     [IMAGE]    [IMAGE] [IMAGE]   Daily Edition for paul.d.thomas@enron.com  [IMAGE]     Electric Power News  Restructuring Today   Utility Spotlight  RER's eMetrix Load Forecast: CAL ISO  Electric Power News - Top Stories  Electric Power News - Most Requested  Gas Industry News - Top Stories           Selected Content Not In This Issue   Utility Stock Price - Top Gainers - Each Tuesday    [IMAGE]   [IMAGE]      [IMAGE]  ELECTRIC POWER NEWS     [IMAGE]    [IMAGE] [IMAGE] [IMAGE] [IMAGE] Selected 95 of 95  Articles Today!      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Service-Link, developed by eMobile Data and marketed to the utility  industry exclusively by Itron, combines the power of the Internet and  the speed of wireless communications to take field operations to the  next level. Service-Link is a low-cost, fully integrated application  to manage virtually all field service tasks - service turn ons/turn  offs, gas leak detection, credit and collections, meter services and  emergency calls - quickly and efficiently, while eliminating the  labor-intensive manual processing of work orders. To know more,  start here: http://www.itron.com .       Top Stories     FERC audit shows flaws in Calif power grid operator   By Chris Baltimore, WASHINGTON, Jan 25 (Reuters) An independent audit of California's electricity grid operator unveiled on Friday by federal regulators revealed numerous flaws in its governance which worsened the state's power crisis and will require a massive overhaul.  [IMAGE]   Calif. rejects $219 mln Sempra power settlement   SAN FRANCISCO, Jan 25 (Reuters) California energy regulators have rejected a settlement proposed by Sempra Energy that seeks to split profits from power sales between customers of its utility, San Diego Gas and Electric Co., and the company's shareholders.  [IMAGE]   As Heat Increases, White House Will Examine Contracts with Enron, Andersen   By Bennett Roth, Houston Chronicle, Jan. 26 As pressure mounted on the Bush administration to reveal more of its links to the beleaguered Enron Corp., the White House said Friday that it will examine $70 million in federal contracts with the energy company and its former accountant, Arthur Andersen.  [IMAGE]   Attorneys in Nevada Utility's Rate Case Take Depositions from Executives   By John G. Edwards, Las Vegas Review-Journal, Jan. 25 While state regulators give Nevada Power consumers an opportunity to vent their anger in public meetings, attorneys are privately taking testimony from utility executives in preparation for hearings on the utility's $922 million rate case.       California Crisis     California Power Exchange Argues for Independence from Creditors   Jan. 27 (California Energy Markets) The California Power Exchange's Chapter 11 bankruptcy case has maintained an exceptionally low profile, largely because there is little to fight over except passthrough debts. Special Offer from this Publisher!        Ratepayers Will Dig Deeper to Pay Edison Debt   Jan. 27 (California Energy Markets) Despite strong opposition from its consumer advocacy division, the California Public Utilities Commission on January 23 unanimously approved a resolution on an advice letter by Southern California Edison to implement its settlement agreement with the commission to pay down the utility's estimated $3.57 billion debt [E-3765].  Special Offer from this Publisher!       National Energy Policy     GAO brandishes lawsuit in energy task force probe   WASHINGTON, Jan 25 (Reuters) - Congress' top investigator said on Friday he will decide late next week whether to take the Bush administration to court -- in a potentially historic legal fight -- for withholding details about how it developed its controversial energy policy.       W.House changed draft plan to help Enron-lawmaker   WASHINGTON, Jan 26 (Reuters) The White House apparently changed a draft energy proposal circulated by the State Department last year to add a provision aimed at helping energy-trader Enron Corp. in India, a Democratic lawmaker says.    [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 white 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 mjohnson@energycentral.com. http://www.energycentral.com/sections/research /        Competition & Deregulation     Deregulation Allows Virginia Consumers to Shop for Electricity Rates   By Michael Davis, The Virginian-Pilot, Norfolk, Va., Jan. 25 What is deregulation?       Florida Utility Chief Zaps Enron Deregulation Push   South Florida Sun-Sentinel, Jan. 25 Enron Corp. may be down and out but that didn't stop a senior FPL Group Inc. official from taking a dig at the company at a luncheon Thursday.      Mergers, Acquisitions & Divestitures     Coastal Pays US$11.3mn for Geosa   Nicaragua, Jan 25, 2002 (BNamericas.com via COMTEX) --  US-based power company Coastal acquired Thursday (Jan.24) the Nicaraguan generator Geosa for US$11.3mn, the only state electricity company sold during the fourth attempt by state company Enel.       AEP officials downplay court ruling   Jan 24 - Tulsa World American Electric Power completed its acquisition of Central South West Power Corp. 19 months ago, becoming one of the largest electric companies in the nation.       Pennsylvania Energy Giant PPL Buys Two Latham, N.Y., Firms   By Kenneth Aaron, Times Union, Albany, N.Y., Jan. 24 An energy giant looking to expand its offerings has bought a pair of Latham contracting firms.      Legislation/Regulation     Arthur Andersen Draws Fire from Lawmakers for Delay before Halt of Shredding   By Julie Mason, Houston Chronicle, Jan. 25 Lawmakers on Thursday ferociously criticized Arthur Andersen for waiting weeks after a federal investigation was under way before halting in-house destruction of Enron Corp. documents.       US lawmakers seek loan data from ex-Enron CEO Lay   By Jeremy Pelofsky, WASHINGTON, Jan 25 (Reuters) U.S. House of Representatives lawmakers on Friday asked former Enron Corp. chief Kenneth Lay to provide information on loans he received from the once high-flying energy firm and on his sales of company stock.       White House Denies Political Adviser Has Ties to Ralph Reed's Enron Job   The Atlanta Journal-Constitution, Jan. 26 White House aides Friday denied that Karl Rove, the president's top political adviser, secured work for Republican strategist Ralph Reed at Enron Corp. five years ago so that Reed would support the Bush presidential campaign.       Congressional Committee Promises Reform to Prevent Future Enron Cases   Knight Ridder Washington Bureau, Jan. 25 As Enron's outside auditor tried to deflect the blame for shredding documents onto a single fired employee, Congress on Thursday began to focus on preventing a repeat of the financial system's failure to protect investors and employees hurt by the energy giant's collapse.       US FERC to hold closed meeting to mull investigation   WASHINGTON, Jan 24 (Reuters) The Federal Energy Regulatory Commission said Thursday it will hold a rare, closed-door meeting next week to discuss a several issues, including the "possible initiation of an investigation."       Entergy said overcharging for under-deliveries   WASHINGTON, Jan 24 (Reuters) A dozen power generators have asked the Federal Energy Regulatory Commission to stop Entergy Corp. from charging unfair rates for energy imbalances resulting from generation under-deliveries.       Campaign-Finance Reform Bill Moves Forward as Enron's Fall Revives Issue   By Roma Khanna, Houston Chronicle, Jan. 25 Long-sought legislation to eliminate unregulated campaign contributions moved toward the House floor Thursday, propelled by the perception that Enron Corp. purchased influence with massive political donations.      Rates     Elizabeth City, Va., City Council May Tackle Higher Power Costs   By Jeffrey S. Hampton, The Virginian-Pilot, Norfolk, Va., Jan. 25 The agency that supplies electricity to Elizabeth City has raised rates 6 percent this month and expects more increases over the next several years.      General     Enron's Fall Puts Spotlight on Responsibilities of Board of Directors   By Bill Deener, The Dallas Morning News, Jan. 25 The fallout from Enron Corp.'s collapse has taken a most predictable turn.       U.S. Senate Candidate in Texas Defends Actions Regarding Enron   By Clay Robison, Houston Chronicle, Jan. 25 Enron cast a shadow over the U.S. Senate race on Thursday as Republican candidate John Cornyn, a major recipient of Enron donations, defended a decision to side with the company in a regulatory dispute shortly before its collapse.       Seven Enron Executives Made Millions from Stock   By Melita Marie Garza, Chicago Tribune, Jan. 24 Seven officers of Enron Corp. unloaded as much as $175 million worth of their company's shares last year in a stock-selling spree that was extraordinary even by the standards of the aggressive energy-trading industry.       Enron's Financial Chill Not Limited to Firm's Former Employees   By Flynn McRoberts, Chicago Tribune, Jan. 26 The financial damage from Enron Corp.'s implosion extends far beyond the thousands of Enron employees who lost their livelihoods.       CHRONOLOGY - Rise and fall of energy giant Enron   NEW YORK, Jan 25 (Reuters) Following are key dates in the history of energy trading giant Enron Corp.:       With death, Enron is even greater human tragedy   HOUSTON, Jan 26 (Reuters) - The suicide of former Enron Corp. Vice Chairman J. Clifford Baxter on Friday showed that the unfolding Enron debacle is taking far more than a financial toll, mental health experts said.       Developments related to the Enron collapse and investigation   By The Associated Press, Jan 25, 2002 (AP WorldStream via COMTEX) --  Developments related to the Enron collapse and investigation:       Minnesota Power's Electric Appliance Store to Close in Duluth, Minn.   By Peter Passi, Duluth News-Tribune, Minn., Jan. 26 Electric Odyssey, an electric appliance retailer owned by Minnesota Power, will end its journey in a matter of days.       Senate Candidate in Texas Vows Enron Scrutiny   By Jack Douglas Jr., Fort Worth Star-Telegram, Texas, Jan. 25 Former Austin Mayor Kirk Watson, a candidate for state attorney general, said Thursday that the investigation of Enron Corp.'s financial collapse means that "Texas is in a tough situation."       Houston's Astros Field Inquiries over New Brand for Ballpark   By Joseph Duarte, Houston Chronicle, Jan. 25 While the fate of Enron remains in limbo, there is no shortage of takers wanting to put their name on the Astros' 2-year-old downtown ballpark.       Charities Hurt By Enron Collapse   Jan 25 - Associated Press One of Enron Corp.'s largest charitable beneficiaries expected a $6 million donation by March, but the United Way of the Texas Gulf Coast isn't counting on it.      Trading/Marketing     Enron Unit's Motive for Hiding Losses May Be Unlawful   By Tom Fowler, Houston Chronicle, Jan. 26 When Enron's energy-services unit slid its trading operations under the umbrella of its wholesale marketing arm last spring, it said the move was all about efficiency.       Williams plays Enron's game, but with caution   Jan 25 - Tulsa World Amid sky-high energy prices last January, Williams Cos. Inc. made an unusual boast for an energy company.      New Technologies/Markets     Cable System Is Link to Plains Township, Pa.-Area High-Tech Development   By Jerry Lynott, The Times Leader, Wilkes-Barre, Pa., Jan. 24 What the railroads and interstate highways were to economic development in the past, high-speed data networks are to the future, PPL Inc. officials said Wednesday in unveiling their fiber-optic cable system.       Online Access Planned Through Power Lines   By Michael P Bruno, GERMANTOWN, MARYLAND, Jan 25, 2002 (Newsbytes via COMTEX) --  A Germantown, Md. start-up that wants to make broadband Internet access as convenient as the nearest electrical outlet has landed $10 million in venture capital.      Power Pricing/Supply     Central Power Prices Suffer Under Winter Break, Excess Gas   Jan. 25 (Btu's Daily Power Report) An influx of gas coupled with an abundance of power and unseasonably warm weather that seems more appropriate for spring rather than winter continued to depress Central power today, with remaining fundamentals not providing much support for any sort of uptick. Special Offer from this Publisher!        The Return of Enron?   Jan. 24 (Energy Market Report) While some Western hubs saw spot electricity prices for the Friday/Saturday package that were higher than those seen for Thursday power, the bulk of transactions took place at lower levels due to reduced weekend demand. Special Offer from this Publisher!       Transmission & Reliability     Study Advises BPA Look at Non-Wires Alternatives to Transmission   Jan. 27 (Clearing Up) There are "potentially lower cost and reliable alternatives" to expanding the Pacific Northwest transmission system, and BPA's transmission business line should incorporate consideration of these alternatives into its transmission planning process. Special Offer from this Publisher!        Nstar plans to spend $65M more on fixes   Jan 26 - Boston Herald The state's biggest utility plans to spend $65 million on one- time projects this year to prevent outages like those that hit Boston and Brookline during the heat wave and storms of last August, the company's head said yesterday.      Power Projects     Longview, Texas, Power-Plant Agreement May Derail Plans to Protect Lake   By Lee Hancock, The Dallas Morning News, Jan. 25 An agreement by city officials to sell water for a new power plant may derail neighboring Marshall's efforts to tap Caddo Lake for the project, but lake advocates say their fight to protect Texas' only naturally formed lake is not over.       Hamburg To Get Report On Building Electric Plant   Jan 24 - Buffalo News - Financial Edition The Village of Hamburg is considering building its own electric plant, local officials have confirmed.      Legal     No ruling yet in PG?bankruptcy case   SAN FRANCISCO, Jan 25 (Reuters) - A federal judge presiding over the Pacific Gas and Electric Co. bankruptcy case ended a marathon hearing on the company's restructuring plan Friday with no word on how or when he might decide a critical dispute over federal and California laws.       PG?Gets Constitutional Law Scholar to Speak On Its Behalf in Court   By Rick Jurgens, Contra Costa Times, Walnut Creek, Calif., Jan. 26 PG?Corp. sent a leading constitutional law scholar to U.S. Bankruptcy Court Friday to persuade Judge Dennis Montali to preempt state laws that PG?claims would prevent it from paying off $14 billion in utility debt.       Enron Was Top Contributor to Texas Supreme Court Hopefuls, Analysis Finds   By Max B. Baker, Fort Worth Star-Telegram, Texas, Jan. 24 Texas Supreme Court judges received more campaign money from Enron executives and the company's political action committee than from any other corporate contributors, an analysis shows.       Judge Approves Depositions on Enron Document Shredding   By Rosanna Ruiz, Houston Chronicle, Jan. 25 A federal judge has approved an order allowing attorneys for Enron stockholders to take depositions from one former and five current employees of the company's auditing firm concerning document destruction.       City Light Goes To Court To Collect $900,000 Owed By Enron   Jan 26 - Seattle Post - Intelligencer Seattle City Light ratepayers are among those left holding the bag because of Enron's bankruptcy.      Renewables     Cinergy To Unload Wind Portfolio   Jan. 27 (Power Finance & Risk) Cincinnati-based Cinergy has put its 200 MW wind-farm portfolio--valued at approximately $200 million--on the block and has retained J.P. Morgan to shop the assets. Special Offer from this Publisher!        Nevada Stake Great in Energy Debate   By Christine Dorsey, Las Vegas Review-Journal, Jan. 24 Democrats and Republicans alike are tossing around the buzzword "renewable" to frame the energy debate expected to take place in the Senate as early as February.      Energy Efficiency/Conservation     Champaign, Ill., Students Learn to Audit Businesses for Energy Savings   By Debra Pressey, The News-Gazette, Champaign-Urbana, Ill., Jan. 24 What can a handful of downtown Champaign businesses do to save money on energy costs?      People     Dozens of Depositions, Subpoenas Await Former Enron Chairman   By Mary Flood, Houston Chronicle, Jan. 25 Ken Lay's day job is likely now to be a professional defendant and witness.       Enron May Get New Boss Soon as Candidate Talks with Directors, Creditors   By David Ivanovich, Houston Chronicle, Jan. 25 A candidate tapped by Enron's board of directors and largest creditors to assume the company's helm will meet with Enron managers as early as today.       Former Enron executive's death ruled a suicide   HOUSTON, Jan 26 (Reuters) The death of former Enron Corp. Vice Chairman J. Clifford Baxter, who died of a gunshot wound to the head, has been ruled a suicide, the Harris County Medical Examiner's Office said on Saturday.       Visibility of Enron's Lay Fades in Recent Weeks   By Miles Moffeit, Fort Worth Star-Telegram, Texas, Jan. 25 Ken Lay officially resigned as chairman and chief executive from Enron Corp. on Wednesday, but many colleagues and friends wonder if he didn't unofficially leave the building on Smith Street weeks ago.       Enron restructuring czar post may be hard to fill   By Dane Hamilton, NEW YORK, Jan 24 (Reuters) Looking for the ultimate corporate challenge? Enron Corp. might just have the job for you.       Congress should call Army chief about Enron-group   WASHINGTON, Jan 25 (Reuters) - A consumer watchdog group said on Friday that Congress should call Army Secretary Thomas White to testify in the collapse of energy giant Enron, since he was formerly a high-ranking Enron executive.       Enron Chief's Departure Creates Huge Civic Void in Houston   By Rachel Graves, Houston Chronicle, Jan. 25 Ken Lay was an icon in Houston, a political and philanthropic force mentioned for years as a potential mayoral candidate.       Wichita, Kan., Celebrates Career of African-American Utility President   By Dion Lefler, The Wichita Eagle, Kan., Jan. 25 About 80 residents turned out Thursday for a reception at the Kansas African American Museum to celebrate the career of Ron Holt, who retired earlier this month as president of KGE.       Enron's Lay cancels meeting with Jesse Jackson   HOUSTON, Jan 24 (Reuters) - Former Enron Corp. chief executive Ken Lay on Thursday canceled a meeting with civil rights activist Jesse Jackson, who went to the company's headquarters anyway and called for laid off Enron workers to be reimbursed from money pocketed by company executives.      Labor/Human Resources     Resignation of Enron CEO Prompts Mixed Reactions from Former Workers   By Mary Vuong, Houston Chronicle, Jan. 25 Overdue. Appropriate. Best for the company.       Jesse Jackson Announces Bus Trip to Washington D.C., with Former Enron Workers   By Bill Murphy, Houston Chronicle, Jan. 26 The Rev. Jesse Jackson announced Friday that laid-off Enron employees and their supporters are planning a bus caravan from Houston to Washington, D.C., next week to protest the federal government's failure to provide relief to them.       Akron, Ohio-Based FirstEnergy Corp. Plans Layoff Announcement   By Karen L. Miller, Reading Eagle, Pa., Jan. 25 The Ohio energy company that owns GPU Inc. said Thursday that it plans to announce local layoffs next week.       More Layoffs at Invensys Power Systems in Raleigh, N.C., Bring Job Cuts to 600   By Dan Egbert, The News & Observer, Raleigh, N.C., Jan. 25 Invensys Power Systems has laid off, transferred and outsourced a third of the employees from its local operations, or about 600 workers, over the past nine months, including the layoff of 70 employees last week.      Environmental     New Jersey Utility to Install Pollution-Control Measures at Plants, Pay Fine   By Jerry Seper, The Washington Times, Jan. 25 The Justice Department yesterday announced a settlement involving a New Jersey company under which the firm will spend $337 million to install pollution-control measures at two coal-fired power plants in the state.      Nuclear     Las Vegas sues to halt nuclear dump   WASHINGTON, Jan 25, 2002 (United Press International via COMTEX) --  Las Vegas Mayor Oscar Goodman on Thursday filed a lawsuit to stop Energy Secretary Spencer Abraham from recommending that the nation's nuclear waste be buried in southern Nevada.       Director of disputed Czech nuclear plant says Austrians need not worry   PRAGUE, Czech Republic, Jan 25, 2002 (AP WorldStream via COMTEX) --  Austrian media and politicians have falsely persuaded Austrians that the disputed Czech Temelin nuclear plant is dangerous, the plant's director said in an article published Friday.       Bulgarian president calls for more expertise on nuclear plant   SOFIA, Bulgaria, Jan 27, 2002 (AP WorldStream via COMTEX) --  Bulgarian President Georgi Parvanov called Sunday for experts to assess the safety of two nuclear reactors before they are shut down at the insistence of the European Union.       Many uncertainties surround plan for storing nuclear waste at Yucca   Jan 26 - Associated Press A panel of scientists says the Energy Department's plan to store nuclear waste in Nevada is fraught with uncertainties.       Mich. 789-MW Palisades nuke returns to full power   SAN FRANCISCO, Jan 25 (Reuters) Consumers Energy's 789-megawatt Palisades nuclear plant in Michigan has returned to full power, completing a refueling and maintenance outage that began June 2001, plant operator Nuclear Management Co. said in a statement.      Financial     E-Mail Reveals Arthur Andersen Auditing Software Raised `Red Alert' at Enron   By Julie Mason, Houston Chronicle, Jan. 26 The same day Arthur Andersen hired outside counsel to handle lawsuits arising from Enron Corp., auditors issued an internal "red alert" about possible fraud in the energy giant's financial statements.       Analyst Says Failure of Accounting System Contributed to Enron Collapse   By Aldo Svaldi, The Denver Post, Jan. 25 The collapse of Enron Corp. was not only a business failure but a failure of the country's accounting system, Lynn Turner, director of the Center for Quality Financial Reporting at Colorado State University, told U.S. senators Thursday morning.       Seattle Electric Utility Is Owed $900,000 by Enron   By Jim Brunner, The Seattle Times, Jan. 25 Add Seattle City Light to the considerable list of creditors for Enron, the Houston-based energy giant that has fallen into bankruptcy and scandal in recent months.       Former SEC Officials Seek Auditing Overhaul after Enron Collapse   By Tim Lemke, The Washington Times, Jan. 25 Two former Securities and Exchange Commission officials said yesterday that Enron's collapse underscores the need for sweeping changes in the current financial system, even though the Houston energy company ran into trouble because it failed to follow existing rules.       Constellation Energy files $2.3 bln debt offering   WASHINGTON, Jan 25 (Reuters) - Constellation Energy Group Inc. filed on Friday with the Securities and Exchange Commission to periodically sell up to $2.3 billion in debt securities.       American Electric Power unit files for $450 mln shelf   WASHINGTON, Jan 25 (Reuters) Appalachian Power Company, a unit of American Electric Power Co., filed with U.S. regulators on Friday to sell over time up to $450 million worth of unsecured notes.       EnBW postpones flotation   Jan 25, 2002, (Die Welt /FT Information via COMTEX) --  Energie Baden-Wurttemberg AG (EnBW), Germany's third-largest power company, has decided against a stock market flotation for the first half of 2002.       As Enron stock tanked, some professional money managers saw a bargain   By ADAM GELLER AP Business Writer, NEW YORK, Jan 26, 2002 (AP WorldStream via COMTEX) -- It wasn't just Enron employees and individual investors who bet heavily - and lost big - on the company's stock last fall.       AEP Plots $1B Equity Offering   Jan. 27 (Power Finance & Risk) American Electric Power is considering issuing up to $1 billion in common stock and convertibles to shore up its balance sheet and also to ensure an investment-grade rating for its unregulated business when it is spun off. Special Offer from this Publisher!        In the Pink of Things? Enron May Find Advantages in Being Delisted by the NYSE   By Will McNamara, IssueAlert, Jan. 25 (Scientech) The New York Stock Exchange (NYSE) announced last week that it had suspended trading in Enron Corp. and moved to delist the energy company's shares from the Big Board. Special Offer from this Publisher!        Enron Collapse Cost Nevada's Pension Plan $22 Million   By John G. Edwards, Las Vegas Review-Journal, Jan. 24 The collapse of Enron, the energy trading giant, cost Nevada's pension plan $22 million in investment funds, but that represents less than a percentage point of the plan's total $13.3 billion.       Enron Collapse Won't Knock Out Large Missouri Pension Funds   By Leo John, St. Louis Post-Dispatch, Jan. 25 Large state-employee and teacher pension funds in Missouri lost more than $33 million in the collapse of Enron Corp.      Financial - Ratings     E.ON outperforms as Morgan Stanley repeats 'strong buy'   LONDON, Jan 25, 2002 (AFX-Europe via COMTEX) --  Shares in E.ON AG were outperforming in midmorning trade after Morgan Stanley repeated its 'strong buy' rating on the stock, citing benefits from its ongoing restructuring, dealers said.      Financial - Results     Atlanta-Based Utility Southern Co. Reports Higher Earnings for Quarter, Year   By Matthew C. Quinn, The Atlanta Journal-Constitution, Jan. 25 Southern Co. reported better-than-expected fourth-quarter earnings Thursday, capping a year in which net income rose 12.7 percent despite dampened electricity demand.       Duluth, Minn.-Based Utility Holding Firm Meets Its Goals for 2001   By Peter Passi, Duluth News-Tribune, Minn., Jan. 25 Allete Inc. warned analysts three months ago that its earnings probably would fall short of management's target for the year. But on Thursday, the Duluth-based company posted results for 2001 that met its goal.       Exelon Says It Reported Incorrect Third-Quarter Figures   By James P. Miller, Chicago Tribune, Jan. 26 Commonwealth Ed parent Exelon Corp. said Friday it had overstated its profits for the third quarter by $27 million because of a flawed estimate on the investment performance of a big Exelon trust fund--and later overlooked data that made it clear the company had reported incorrect figures.       New Mexico-Based Utility PNM Resources Reports 2001 Earnings   By Rosalie Rayburn, Albuquerque Journal, N.M., Jan. 24 Momentum from a soaring wholesale power market early last year carried PNM through a declining fourth quarter to end the year ahead of expectations, the company said Wednesday.      International     Thailand Rating, Information Services Monitors Ratings of Power Producer   Bangkok Post, Thailand, Jan. 25 Thai Rating and Information Services says it is monitoring ratings of Cogeneration Plc (Coco) following the announcement by Tractebel Asia of its investment plans and restructuring.       Thailand Sugar Producer to Expand Power Plants   By Yuthana Praiwan, Bangkok Post, Thailand, Jan. 26 Mitr Phol Sugar Corp has set aside 2.36 billion baht to invest in power project expansion over the next seven years, according to president Issara Vongkusolkit.       Hydro-Quebec plans to invest C$11 bln on plants   By Patrick White, QUEBEC CITY, Jan 24 (Reuters) Canadian electricity giant Hydro-Quebec said on Thursday that it plans to invest C$11 billion ($6.9 billion) over the next 10 years on new power plants.       Enron Australia administrators propose liquidation   MELBOURNE, Jan 25 (Reuters) Enron Australia's administrators said on Friday they would recommend to a creditors' meeting on Tuesday that the company be placed in liquidation as disagreement continued over the value of outstanding contracts.       El Nino, rebels may force Colombia to ration power   BOGOTA, Colombia, Jan 25 (Reuters) Colombia could face electricity rationing over the next three years, due to guerrilla attacks and the feared onset of the El Nino weather phenomenon which saps hydroelectric dams of water supplies, the local generators' association said on Friday.       Interest from Spanish, U.S. firms could delay sale of utility   Quito, Jan 25, 2002 (EFE via COMTEX) --  The recent interest shown by Spain's Iberdrola and the U.S. firm Sempra Energy in purchasing Ecuador's electrical utility could extend the timeframe for bidding.       Enron Linked to Fox's Electric Reform   Mexico, Jan 25, 2002 (BNamericas.com via COMTEX) --  A highly-placed executive of the Mexican subsidiary of US company Enron was linked to the project to reform Mexico's electricity sector to allow private participation and end the state's monopoly, according to newspaper La Jornada.       CRE Gives Permission To Build Generation Plants   MEXICO CITY, Jan 25, 2002 (El Universal/Corporate Mexico by Internet Securities, Inc. via COMTEX) --  Mexico's Regulatory Energy Commission (CRE) issued two permissions for the generation of 17 megawatts of electricity for self-supply to Mexicana de Electrogeneracion, allowing the company to further increase its national generating capacity, reported Mexico City daily el Universal.       Egyptian minister on financing of major electricity projects   Jan 26 - BBC Monitoring Middle East Dr Hasan Yunus, minister of electricity and energy, said Saturday [26 January] that the strategy of carrying out new major projects will rely, in the coming period, on self-finance, grants and easy loans from Arab funds and international financial organizations to build new power stations.   [IMAGE]     Powered by Energy Central   ? 2002 CyberTech, Inc. All rights reserved.  More News         [IMAGE]   [IMAGE] Top    [IMAGE]  RESTRUCTURING TODAY      [IMAGE]    [IMAGE] [IMAGE] [IMAGE] [IMAGE] January 28, 2002     Friday January 25 2002      John Baxter dead      Market without Enron does have costs senators told      Enron legacy? Cleaner American politics?      . . . behind closed doors FERC to debate PJM ICAP penalty for next meeting      Law professor wants gatekeepers held accountable      PG?bankruptcy ending near?      Gov Davis opponent wants him to pay back Enron        Powered By US Publishing   ? 2002 US Publishing. All Rights Reserved.  More Info     [IMAGE]   [IMAGE] Top    [IMAGE]  UTILITY SPOTLIGHT     [IMAGE]    [IMAGE] [IMAGE] [IMAGE] [IMAGE] January 22, 2002    Enron Expose Widens, Affects Past, Present U.S., Andersen Officials      Power Marketing -- FERC Establishes Oversight Unit as Cal-ISO Produces Plan For Deadline      D.C. Current -- DOE Decision Dispels Some Doubt On Political Path to Yucca Mountain      D.C. Current -- Enron Situation Looks Bad; Reforms Unclear      Communications & PR -- Andersen May Be ?Better, Stronger? After Enron Involvement?Berardino      Communications & PR -- Houston, TX      Communications & PR --  Spokane, WA      Natural Gas -- FERC Okays U.S. Part of $230M, 215-Mile North Baja Pipeline Plan      Natural Gas -- $153M Deal No Effect on Progress Energy?S?      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