IN: Energy Firms' Mixed Message Is Focus of Inquiry Deregulation: Senate panel will investigate whether suppliers were being misleading when they promised lower rates for consumers while they were also predicting bigger profits for investors. By ROBERT J. LOPEZ and RICH CONNELL, Times Staff Writers In the summer of 1999, a top official with a major player in California's power market testified during a congressional committee hearing in support of speeding up deregulation. Unleashing market forces, said the Dynegy Inc. executive, would ensure "maximum customer savings" and "low-cost power." That same month, the Houston-based firm made a far different pitch to Wall Street: Deregulation and major swings in electricity prices would boost revenue and stock value. "We know how to take advantage of volatility spikes across the gas and power market," Chief Executive Officer Charles Watson declared in a publication targeting large investors. "The energy marketplace," he predicted, "will simply get more volatile." Dynegy was not alone, a review of federal filings, company documents and public records shows. In the years since California's pioneering deregulation plan was approved, other major out-of-state energy suppliers were sending similar, seemingly contradictory signals to the public and stock buyers. Now, those divergent messages--electricity prices will fall but corporate

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OUT: More on CA Legislature Inquiry into Wholesale Prices

IN: Steve, Let's discuss all of your new rox products for EOL. I would like to know which products to roll out on EOL for April bidweek. I would also like to discuss creating a south of Muddy Creek product for Kern gas. I would assume that it would fall under the IF Kern index. Thanks,

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OUT: Rockies products

IN: Deborah: I understand that an EES asset is going into an asset trust for Hawaii 125-0 and that ENE wants a back-to-back swap with EES. Is EES the swap counterparty? Sara

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OUT: Hawaii Series

IN: Attached is the form of fee simple purchase agreement that we will use for the reciprocating compressor sites. Please forward to all appropriate land personnel. If you have any questions please call me at your convenience.

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OUT:
Recip Land Agreement