Energy Central Professional Dispatch - 2/5/02 ,
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  [IMAGE] [IMAGE] [IMAGE]     Tuesday, February 5, 2002  Home  - Email Pref=
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[IMAGE] Energy Central's editors have selected these as the top stories of =
the day:    Australia CitiPower set for trade sale or IPO  By Wendy Pugh, M=
ELBOURNE, Feb 4 (Reuters) Boston-Area Utility NStar Says $22.5 Million in P=
enalties Is Excessive  By Peter J. Howe, The Boston Globe, Feb. 4 Former En=
ron Chief, Citing Criticism, Decides Not to Testify before Congress  By Ann=
e E. Kornblut, The Boston Globe, Feb. 4 Lights out on Edison bid for NZ's C=
ontact  WELLINGTON, Feb 4 (Reuters) -     [IMAGE]     [IMAGE]   ELECTRIC PO=
WER NEWS - MOST REQUESTED      [IMAGE] [IMAGE]   [IMAGE] These stories have=
 been most requested by Energy Central members in the last two weeks.    Co=
urt overturns approval of AEP, Central SW merger     By Julie Vorman, WASHI=
NGTON, Jan 18 (Reuters)  Enron's Cutthroat Culture Is Deplored by Those It =
Served to Profit     By Claudia Kolker, The Boston Globe, Jan. 27  FERC aud=
it shows flaws in Calif power grid operator     By Chris Baltimore, WASHING=
TON, Jan 25 (Reuters)  Arthur Andersen's CEO Points a Finger at Enron's Bus=
iness Model     By Julie Mason, Houston Chronicle, Jan. 21  Report Offers B=
right Outlook for California Power Authority     By Rick Jurgens, Contra Co=
sta Times, Walnut Creek, Calif., Jan. 19     [IMAGE]     [IMAGE]   GAS INDU=
STRY NEWS - TOP STORIES      [IMAGE] [IMAGE]   [IMAGE] Energy Central's edi=
tors have selected these as the top stories of the day:    Enbridge buys mo=
re U.S. gas pipelines for $178 mln  CALGARY, Alberta, Feb 4 (Reuters) Gazpr=
om drops plans to build second gas pipeline to western Europe  Feb 04, 2002=
 - Deutsche Presse-Agentur (dpa) Maritimes seeks expanded gas line to U.S. =
Northeast  NEW YORK, Feb 4 (Reuters)     [IMAGE]     [IMAGE]   UTILITY STOC=
K PRICE - TOP GAINERS      [IMAGE] [IMAGE]   [IMAGE] Utility Stock Price Mo=
vers And Shakers (Top Gainers)  [IMAGE]    One Week  Company Ticker Percent=
 Change First Energy  FE  7.0   NRG Energy  NRG  5.7   GPU Inc.  GPU  3.5  =
 ALLETE (MPL) 1  ALE  2.6   Chesapeake Utilites  CPK  2.4   Conectiv (DEW/A=
TE)  CIV  2.1   IDACORP (Idaho Power)  IDA  1.9   Calpine  CPN  1.7   Duke =
Energy  DUK  1.4      30 day  Company Ticker Percent Change PGE Corp  PCG  =
9.0   Atmos Energy Co.  ATO  8.0   ALLETE (MPL) 1  ALE  7.9   First Energy =
 FE  7.3   Alliant Energy 1  LNT  5.7   Pinnacle West Capital  PNW  5.6   I=
DACORP (Idaho Power)  IDA  5.6   KeySpan  KSE  5.2   DPL Inc  DPL  4.9     =
 90 day  Company Ticker Percent Change PGE Corp  PCG  40.8   Edison Interna=
tional  EIX  23.7   GPU Inc.  GPU  15.3   Otter Tail Power*  OTTR  13.9   A=
LLETE (MPL) 1  ALE  11.7   First Energy  FE  6.9   Hawaiian Electric1  HE  =
6.8   Conectiv (DEW/ATE)  CIV  6.4   Nstar  NST  5.1      Powered By Baird =
  ? 2002 Roberts W. Baird & CO. Incorporated. All Rights Reserved.  Terms o=
f Use       [IMAGE]     [IMAGE]      [IMAGE]   KWI [IMAGE]  [IMAGE]  IN THI=
S ISSUE     [IMAGE]      [IMAGE] [IMAGE]      Daily Edition for paul.d.thom=
as@enron.com  [IMAGE]     Electric Power News  Restructuring Today   RER's =
eMetrix Load Forecast: CAL ISO  Electric Power News - Top Stories  Electric=
 Power News - Most Requested  Gas Industry News - Top Stories  Utility Stoc=
k Price - Top Gainers           Selected Content Not In This Issue   Utilit=
y Spotlight - Every Monday      [IMAGE]     [IMAGE]      [IMAGE]  ELECTRIC =
POWER NEWS     [IMAGE]      [IMAGE] [IMAGE]   [IMAGE] [IMAGE] Selected 95 o=
f 95  Articles Today!      THESE ARTICLES BROUGHT TO YOU BY     Save $100 n=
ow on "Load Management 2001 - Balancing Customers, Regulators and Energy De=
mand" by The C Three Group. The report reveals how programs are in a state =
of flux with some vendors struggling as utilities face great ambiguity. It =
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nts and profile samples are available at  http://www.energycentral.com/link=
s/show_mi.cfm?id=3D100837         Top Stories     Former Enron Chief, Citin=
g Criticism, Decides Not to Testify before Congress   By Anne E. Kornblut, =
The Boston Globe, Feb. 4 Kenneth L. Lay, the former Enron chairman under mo=
unting suspicion for the company's spectacular failure, last night unexpect=
edly canceled plans to testify before Congress after hearing prominent lawm=
akers condemn him on television talk shows yesterday.  [IMAGE]   Lights out=
 on Edison bid for NZ's Contact   WELLINGTON, Feb 4 (Reuters) - U.S. utilit=
y Edison Mission Energy Ltd (EME) has missed out on taking over New Zealand=
's largest power company, Contact Energy Ltd, after failing to sway key ins=
titutional shareholders.  [IMAGE]   Boston-Area Utility NStar Says $22.5 Mi=
llion in Penalties Is Excessive   By Peter J. Howe, The Boston Globe, Feb. =
4 NStar Electric said Attorney General Thomas F. Reilly's call for $22.5 mi=
llion in penalties for the utility because of last summer's frequent power =
outages is not only excessive but contradicts Reilly's earlier statements o=
n the issue.  [IMAGE]   Australia CitiPower set for trade sale or IPO   By =
Wendy Pugh, MELBOURNE, Feb 4 (Reuters) Victorian electricity retailer and n=
etwork company CitiPower is set to be sold by trade sale or initial public =
offering later this year following American Electric Power's decision to di=
vest the asset.       Press Release     npower Simplifies Its Gas, Electric=
ity and Telco Billing Process With SPL WorldGroup   Morristown, New Jersey =
? February 4th, 2002 SPL WorldGroup, the leading provider of customer manag=
ement solutions to the global energy industry, and npower, one of the UK?s =
largest retail energy companies, has successfully implemented SPL?s industr=
y leading customer management application. Meeting an aggressive six-month =
timetable for implementation, npower is now able to provide its new gas and=
 electricity customers with a single bill for both energy products.      En=
ergy Security     People Close To A Reactor Feel Safe; Terror Warning Arous=
es No Fear   Feb 04 - Record - Bergen County Burgers are the favorite at Jo=
hnny Rits sports bar, just a beer bottle's throw from the entrance to the I=
ndian Point nuclear plant in this blue-collar Hudson River village 35 miles=
 north of Manhattan.       Ridge Opposes Federal Nuke Guards   Feb 03 - Ass=
ociated Press Homeland Security Director Tom Ridge said Sunday that private=
 security forces at nuclear power plants should not be replaced with federa=
l guards, siding with federal regulators and the industry.    [IMAGE] ADVER=
TISEMENT    ENERGIZE YOUR CAREER - The Energy Central Job Center has a new =
look,  new features, premier employers and is updated daily! Visit the ener=
gy  industry's largest on-line job center today:  http://www.energycentral.=
com/sections/jobs          Enron Debacle     Senate panel plans to subpoena=
 Enron's Lay   WASHINGTON, Feb 4 (Reuters) - The chairman of the powerful S=
enate Commerce Committee on Monday said he would force former Enron Corp. c=
hairman Kenneth Lay to appear before his panel and called for a special pro=
secutor to probe the failed energy giant's ties to the Bush administration.=
       Enron deception started at top-Enron director   WASHINGTON, Feb 4 (R=
euters) - Enron Corp. tried to systematically manipulate its results and de=
ceive shareholders as top executives raked in millions of dollars in person=
al gains, the author of an internal inquiry into the company's collapse tol=
d Congress on Monday.       Enron chief financial officer to take the Fifth=
   WASHINGTON, Feb 3 (Reuters) Enron's former chief financial officer, who =
is charged with pocketing $30 million from questionable deals that led to t=
he company's collapse, will not answer questions in testimony before Congre=
ss, a lawmaker investigating the firm said on Sunday.       Enron Europe li=
abilities billions of dollars   LONDON, Feb 4 (Reuters) - Administrator Pri=
cewaterhouseCoopers said on Monday it had told creditors that collapsed ene=
rgy company Enron Europe had "billions" of dollars of liabilities.       Co=
ngressmen question legality of some Enron transactions   By PETE YOST Assoc=
iated Press Writer, WASHINGTON, Feb 03, 2002 (AP WorldStream via COMTEX) --=
 Two members of Congress pointed to possible criminality in the Enron scand=
al Sunday, saying the company manufactured income out of its off-the-books =
partnership deals that led to financial disaster.       Enron Swallowed $35=
7M in PGE Payments   PORTLAND, Ore., Feb 03, 2002 (AP Online via COMTEX) --=
 Portland General Electric sent Enron more than $357 million in federal tax=
 money collected from its ratepayers during the past four years, but its pa=
rent company pocketed the money rather than turn it over to the government,=
 a public interest group said.       Internal Enron Probe Finds Abuses   By=
 KRISTEN HAYS Associated Press Writer, HOUSTON, Feb 04, 2002 (AP Online via=
 COMTEX) -- Enron Corp. executives pocketed large amounts of money in runni=
ng complex partnerships used to disguise the troubled energy company's fina=
ncial problems while top managers and auditors provided little oversight, a=
n internal probe found.       ANALYSIS: Internal Report Suggests Why Enron =
Executives Are So Quiet Now   By Jim Landers, The Dallas Morning News, Feb.=
 4 After Enron Corp.'s own report on what went wrong, perhaps it's not surp=
rising that Kenneth Lay and several other ex-executives are electing to sta=
y away or stay mum before Congress this week.       Enron Rode U.S. Policy,=
 Washington Ties to Lofty But Failed Overseas Ventures   By Jim Landers, Th=
e Dallas Morning News, Feb. 2 In many ways, says Chamber of Commerce execut=
ive Michael Clark, "the business of U.S. foreign policy in the 1990s was bu=
siness."       Enron Debacle Forces Sharper Focus on Company Audit Committe=
es   By Dan Feldstein, Houston Chronicle, Feb. 4 At the last meeting of the=
 Reliant Energy board of directors' audit committee, the subject was Enron =
Corp. and its highly creative accounting.       Interview Offers Glimpse at=
 Then-Enron Chairman's Influence   By Eric Berger, Houston Chronicle, Feb. =
4 An interview last May with Enron Corp.'s then-chairman Ken Lay has reveal=
ed more of his influence on the nation's energy policy.       Former Enron =
Chairman's Rise as Dramatic as His Fall   Houston Chronicle, Feb. 3 One day=
 last August, Ken Lay faced more than 1,000 Enron employees in the grand ba=
llroom at the Hyatt Regency downtown.       Former Enron Workers Feel Let D=
own as Former Chairman Alters Plans   By Steve Brewer, Houston Chronicle, F=
eb. 4 For former Enron employees in Houston, Ken Lay's televised testimony =
before Congress was going to be the equivalent of Sunday's Super Bowl.     =
  Class-Action Suit against Enron May Include You   By Pamela R. Winnick, P=
ittsburgh Post-Gazette, Feb. 4 Did you lose your shirt investing in Enron s=
tock?       Andersen to hire former Fed Volcker to restore rep-ABC   WASHIN=
GTON, Feb 3 (Reuters) Embattled auditor Andersen, criticized for its handli=
ng of fallen Enron Corp.'s books, plans to hire former Federal Reserve Chai=
rman Paul Volcker to help the firm restore its credibility, ABC News report=
ed on Sunday, citing no sources.       Enron officials seen facing criminal=
 prosecution   WASHINGTON, Feb 3 (Reuters) - An internal Enron Corp. report=
 showing the company inflated profits while top employees raked in millions=
 of dollars they should not have received puts some Enron executives in jeo=
pardy of criminal prosecution, key members of the U.S. Congress said on Sun=
day.       FACTBOX-Congress hearings schedule on Enron/Andersen   WASHINGTO=
N, Feb 3 (Reuters) The following are the hearings that the U.S. Congress ha=
s firmly scheduled on the collapse of Enron Corp., the role of its auditor =
Andersen, and related regulatory issues over the coming weeks. Latest infor=
mation added is marked with *.       AFL-CIO asks SEC bar Enron directors f=
rom boards   WASHINGTON, Feb 4 (Reuters) - The AFL-CIO called on U.S. regul=
ators on Monday to bar directors of Enron Corp. from serving on other compa=
nies' boards, arguing the directors were "substantially unfit" for such dut=
ies.       Ex-Enron CEO Skilling still plans to testify   WASHINGTON, Feb 4=
 (Reuters) One-time Enron Corp. Chief Executive Jeffrey Skilling still plan=
s to testify before a congressional committee later this week, his spokeswo=
man said on Monday, unlike other former executives of the fallen energy gia=
nt.       Deep Roots of Enron Fall Studied   By BRAD FOSS AP Business Write=
r, HOUSTON, Feb 03, 2002 (AP Online via COMTEX) -- Enron's crash now is bei=
ng tracked back to deceptive accounting and unbridled deal-making that were=
 part of the company's culture for years.       Enron Specter Haunts World =
Forum   By EILEEN ALT POWELL AP Business Writer, NEW YORK, Feb 03, 2002 (AP=
 Online via COMTEX) -- If there is a ghost haunting the World Economic Foru=
m, it belongs to Enron Corp.       Excerpts From Enron Investigation   HOUS=
TON, Feb 03, 2002 (AP Online via COMTEX) --  Here are excerpts from a 203-p=
age internal probe into partnerships that helped fuel Enron Corp.'s collaps=
e last year:       British and U.S. unions call for accountants' body to in=
vestigate Wakeham   LONDON, Feb 04, 2002 (AP WorldStream via COMTEX) --  Th=
e Institute of Chartered Accountants of England and Wales said on Monday it=
 was awaiting information from U.S. authorities before deciding whether to =
investigate former government minister John Wakeham in connection with his =
role as a director of Enron Corp.       No 10 did not reveal all Enron talk=
s   Feb 04 - The Guardian The row over the web of influence built up by the=
 collapsed energy giant Enron deepened yesterday as it emerged that Downing=
 Street failed to disclose a number of meetings the company held with minis=
ters and key advisers to Tony Blair and Gordon Brown.       California syst=
em was easy pickings / Enron helped build market, then exploited weaknesses=
   Feb 03 - San Francisco Chronicle Long before Enron Corp.'s plunge from r=
iches to rags, the Houston energy maverick's aggressive campaign to push go=
vernment regulators out of the electricity industry found its best business=
 opportunity in California.       Cooper Aims to Reform Enron Into Firm wit=
h Predictable Cash Flows   Feb. 4 (Utility Spotlight) In his first day as i=
nterim CEO of Enron, bankruptcy restructuring specialist Stephen Cooper sai=
d he will focus on quickly returning the troubled firm into an energy compa=
ny centered around international and domestic power plants and natural gas =
facilities that will provide predictable revenues and cash flow. Special Of=
fer from this Publisher!        Chair of Georgia GOP Says He's Willing to A=
nswer Enron Questions   By Jim Galloway, The Atlanta Journal-Constitution, =
Feb. 2 During the eight months he's been their chairman, Georgia Republican=
s have found out that when you get Ralph Reed, you get many things.       E=
nron Executives Reassured Employees, Investors as Firm Spun Out of Control =
  By Charlene Oldham, The Dallas Morning News, Feb. 3 With that very public=
 reassurance, Kenneth Lay predicted blue skies on the day that protege Jeff=
rey Skilling unexpectedly stepped down after a six-month stint as Enron Cor=
p.'s chief executive.       Jesse Jackson, Others Reiterate Efforts to Get =
Relief for Ex-Enron Workers   By Mary Vuong, Houston Chronicle, Feb. 4 The =
Rev. Jesse Jackson on Sunday reiterated his mission to seek financial relie=
f for former Enron employees during a Houston gathering before heading to W=
ashington, D.C., with several of those workers to watch Ken Lay's scheduled=
 testimony before Congress today.       Harris County, Texas, District Atto=
rney Says Staff Will Not Investigate Enron   By Alan Bernstein, Houston Chr=
onicle, Feb. 2 Harris County District Attorney Chuck Rosenthal said Friday =
his staff is not investigating the possibility of criminal actions in the f=
inancial collapse of Enron Corp. because it has no evidence state laws were=
 broken.       Houston Congressman Bentsen Heads Roundtable Session for Ex-=
Enron Workers   By Lori Rodriguez, Houston Chronicle, Feb. 4 On the eve of =
a congressional hearing today that was to feature former Enron Chairman Ken=
 Lay, Houston Congressman Ken Bentsen met with former company employees Sun=
day to hammer out questions for the ex-CEO about the collapse of the compan=
y and the subsequent plight of its workforce.       GOP whip DeLay calls fo=
r Lay to testify   WASHINGTON, Feb 04, 2002 (United Press International via=
 COMTEX) --  A key Republican lawmaker Monday joined the call for former En=
ron head Kenneth Lay to appear before congressional committees investigatin=
g the collapse of the Houston energy giant.       Enron inquiry in Senate f=
ocuses on manipulation of futures prices   Feb. 4 (Public Power Weekly) A J=
an. 29 Senate Energy and Natural Resources Committee hearing on Enron focus=
ed on indications that the energy trading company may have manipulated pric=
es of futures contracts. Special Offer from this Publisher!       National =
Energy Policy     Bush budget slashes U.S. oil, natgas research funds   WAS=
HINGTON, Feb 4 (Reuters) The U.S. Energy Department's oil and natural gas r=
esearch programs were slashed under President George W. Bush's new fiscal 2=
003 budget released on Monday, while renewable energy and efficiency progra=
ms received a slight funding boost.       Enron Disclosures Weigh on Bush  =
 WASHINGTON, Feb 03, 2002 (AP Online via COMTEX) --  A Republican committee=
 chairman said Sunday the Bush administration probably will end up revealin=
g information about its energy meetings, amid reports of more contacts with=
 Enron and other power companies.       Debate continues over disclosure of=
 Bush White House energy meetings   WASHINGTON, Feb 03, 2002 (AP WorldStrea=
m via COMTEX) --  A Republican committee chairman says the Bush administrat=
ion probably will end up revealing information about its energy meetings, a=
mid reports of more contacts with Enron and other power companies.      Com=
petition & Deregulation     CEO of Georgia Gas Utility Criticizes Electric =
Company's Moves   By Matthew C. Quinn, The Atlanta Journal-Constitution, Fe=
b. 2 The debate over natural gas deregulation turned into a boardroom brawl=
 Friday when the top executive of Georgia's No. 1 gas company warned the st=
ate's top electric company to butt out of its business.       New Jersey Po=
wer Suppliers Go Shopping   Feb 04 - Record - Bergen County New Jersey's fo=
ur electric utilities are going on a shopping spree Monday, securing power =
for their customers in the year ahead.       Electric Deregulation Stalls, =
Maybe Forever   Feb 04 - Arkansas Business THE MOVE TO A RETAIL open-access=
 electricity market in Arkansas stalled, maybe permanently, last month, lea=
ving companies in the energy business to perform some fancy footwork.      =
 PSC scrutinizes power-bidding practices in quest to curb costs   Feb 04 - =
New Orleans CityBusiness STATE REGULATORS ARE preparing to turn up the heat=
 on utilities to make sure they get bulk power at the cheapest available pr=
ice.       Energy industry poised for offensive   Feb 03 - Milwaukee Journa=
l Sentinel The U.S. energy industry is mobilizing in the aftermath of Enron=
 Corp.'s collapse against attempts to slow down or reverse deregulation of =
power markets, setting the stage for the biggest debate over the issue sinc=
e the California energy crisis last year.      Mergers, Acquisitions & Dive=
stitures     AEP hires advisers for UK, Australia sales   COLUMBUS, Ohio, F=
eb 4 (Reuters) - American Electric Power Co. Inc. on Monday said it has ret=
ained Schroder Salomon Smith Barney and ABN Amro to advise it on prospects =
for the divestment of Seeboard, its electric and gas utility in southeast E=
ngland.       NW Natural Positive on PGE Purchase; Others See Debt, Rate Is=
sues   Feb. 4 (Clearing Up) NW Natural remains confident that its proposed =
purchase of Portland General from Enron will go through. Special Offer from=
 this Publisher!       California Crisis     Generators' Plan to Take Over =
Cal-PX Faces Resistance in Bankruptcy Court   Feb. 4 (Utility Spotlight) In=
 what is getting to be a new era of energy bankruptcies, a quieter, but no =
less complicated, bankruptcy is taking place in a federal court here involv=
ing the defunct non-profit, state-chartered California Power Exchange squar=
ing off against a committee of merchant power suppliers who used to partici=
pate in the day-ahead, day-of, hourly and forward wholesale electricity mar=
kets. Special Offer from this Publisher!        CPUC Goes Retro on Direct A=
ccess   Feb. 4 (California Energy Markets) In a move that could influence t=
he Enron investigation, the California Public Utilities Commission on Janua=
ry 25 issued a proposed decision that would retroactively suspend direct ac=
cess to July 1, 2001 [R01-01-011].  Special Offer from this Publisher!     =
  Legislation/Regulation     US FERC wants $8 mln budget hike to $200 mln f=
or FY03   WASHINGTON, Feb 4 (Reuters) Reflecting a bigger emphasis on marke=
t enforcement, the Federal Energy Regulatory Commission (FERC) requested a =
budget of nearly $200 million for fiscal 2003, up about $8 million from thi=
s year.       PUCT Transition After Chairman Yzaguirre Resigns Is Smooth   =
Feb. 4 (Texas Electric Market Reporter) At the start of its January 23 Open=
 Meeting, Commissioner Klein announced that she and Commissioner Perlman wo=
uld share chairman duties until such time as a new Chairman is appointed by=
 the Governor after Chairman Yzaguirre resigned from the PuCT on January 18=
. Special Offer from this Publisher!       General     ComEd will allow aud=
it of upgrade costs   Feb 04 - Chicago Sun - Times Commonwealth Edison has =
agreed to an outside audit of its 1999 and 2000 outlays to upgrade its elec=
trical systems following the summer of 1999's widespread power failures in =
the city.      Trading/Marketing     CFTC member raises concerns over Enron=
 trading   WASHINGTON, Feb 4 (Reuters) A member of the Commodity Futures Tr=
ading Commission warned U.S. lawmakers that there are "gaping holes" in reg=
ulating the kind of trading carried out by Enron Corp. and said it was prem=
ature to conclude that the company did not manipulate energy markets.      =
New Technologies/Markets     Emerging Technology Companies Showcased at Ene=
rgy Venture Fair   by Jon T. Brock, IssueAlert, Feb. 1 (Scientech) Seventy-=
five emerging technology companies in the energy industry converged on Hous=
ton, Texas earlier this week in what could be called a "dating service" for=
 those seeking to raise capital in a tight market. Special Offer from this =
Publisher!       Power Pricing/Supply     Outages, Cold Winter Weather Supp=
ort Central Power Prices   Feb. 4 (Btu's Daily Power Report) Central power =
prices continue to remain strong on the colder weather, though some regions=
 were cheaper than traders had expected despite temperatures dipping to bel=
ow normal levels. Special Offer from this Publisher!        Task Force Take=
n to Task   Feb. 1 (Energy Market Report) Western heavy load energy costs f=
or Monday delivery were mostly steady from levels reported for the Friday/S=
aturday package as weather forecasts called for warmer weather in the new w=
eek and spot gas prices remained relatively stable. Special Offer from this=
 Publisher!       Transmission & Reliability     Budget to boost 2003 Bonne=
ville transmission spending   By Chris Baltimore, WASHINGTON, Feb 4 (Reuter=
s) The fiscal 2003 Bush budget unveiled on Monday would give new funding of=
 $134 million to public power producer Bonneville Power Administration (BPA=
) to build new electricity transmission lines and other facilities in the P=
acific Northwest.       PUCO initiates Commission Ordered Investigation int=
o line extensions   Feb 04 - Toledo Business Journal The Public Utilities C=
ommission of Ohio (PUCO) initiated a Commission Ordered Investigation (COI)=
 for the purpose of gaining information on past and present line extension =
policies and procedures of FirstEnergy Corp., American Electric Power, and =
Monongahela Power Company.       New England/New York ISO Compact Supports =
FERC Plan for 4 Giant RTOs   Feb. 4 (Utility Spotlight) The Federal Energy =
Regulatory Commission's goal of creating four giant regional transmission o=
rganizations took a big step forward last week when ISO New England and the=
 New York-ISO agreed to develop "a common electricity marketplace for their=
 adjacent regions based on a common market design." Special Offer from this=
 Publisher!        FERC may allow 13% rate of return for MISO t-lines   Feb=
. 4 (Public Power Weekly) Federal Energy Regulatory Commission members at a=
 Jan. 30 meeting left no doubt that they are open to higher rates of return=
 for transmission service, potentially as high as 13%?or 16% for new facili=
ties?for the Midwest Independent System Operator. Special Offer from this P=
ublisher!       Power Projects     PG?sees Conn. power plant in service in =
2 weeks   NEW YORK, Feb 4 (Reuters) To help serve the growing need for powe=
r in Connecticut and the rest of New England, PG?National Energy Group expe=
cts the 792 megawatt Lake Road power plant to begin commercial service with=
in two weeks, the company said Monday.       Alliant Iowa utility unit plan=
s 500-MW power plant   SAN FRANCISCO, Feb 4 (Reuters) Alliant Energy Corp. =
said on Monday its Iowa utility subsidiary plans to build a 500-megawatt po=
wer plant in the state after the company did not receive any bids on the pr=
oject from other energy companies.       Plant opponents appeal air permit;=
 EPA to decide whether objection will be heard   Feb 04 - South Bend Tribun=
e Opponents of a $570 million, 1,100-megawatt power plant proposed for the =
Niles Industrial Park aren't ready to throw in the towel.      Legal     Da=
llas-Area Utility Files for Bankruptcy, Sues Lender   By Katie Fairbank, Th=
e Dallas Morning News, Feb. 2 CoServ girded for the next level of legal bat=
tle on Friday by declaring bankruptcy to halt foreclosure on more than $1 b=
illion worth of property.       Enron scandal highlights debate over lawyer=
s' duty to report client wrongdoing   By ANNE GEARAN Associated Press Write=
r, PHILADELPHIA, Feb 03, 2002 (AP WorldStream via COMTEX) -- Lawyers may be=
 among the losers in the Enron scandal if it turns out they turned a blind =
eye to accounting flimflams or worse at the failed energy trading company. =
     Renewables     Bush pushes renewable energy in new budget   WASHINGTON=
, Feb 4 (Reuters) - President Bush on Monday proposed a 2.7 percent increas=
e in the Energy Department's discretionary spending for the 2003 spending y=
ear and the administration calls for significant tax incentives to encourag=
e energy efficiency and use of renewable resources.       Board OKs land us=
e for AEP wind turbine   Feb 04 - South Bend Tribune A device similar to a =
windmill will be built outside New Buffalo by American Electric Power Co. t=
o gauge the ability of nature here to produce electricity.       Green ener=
gy: next niche of development   Feb 04 - Northern Ontario Business The bone=
-chilling wind that cuts through Sudburians; in winter may eventually play =
a role in keeping them warm.       GEPHARDT NAMES RENEWABLES AS PRIORITY #1=
 FOR NEXT DECADE   Feb. 1 (Wind Energy Weekly) In a speech before the Democ=
ratic Leadership Council on January 29, House Minority Leader Dick Gephardt=
 (D-Mo.) listed energy security based on renewable resources as the most im=
portant goal for this decade. Special Offer from this Publisher!       Plan=
ts     ANP sees 570-MW Mass. power plant in service in Q2   NEW YORK, Feb 4=
 (Reuters) American National Power expects to have its new 570 megawatts (M=
W) natural gas-fired power plant in Bellingham, Massachusetts, in service d=
uring the second quarter of 2002, the company said on Monday.      Fuel    =
 Enron had sights set on UK coal control   Feb 04 - Scotland on Sunday ENRO=
N, the collapsed US energy giant, tried to take control of all coal imports=
 into the UK, according to industry sources.      Environmental     Montana=
 Power wants to continue operation from polluted reservoir   Feb 04 - The B=
illings Gazette For the fourth time in 15 years, Montana Power Co. has aske=
d federal regulators to extend its operating license at Milltown Dam while =
the Environmental Protection Agency continues work on a cleanup plan for th=
e polluted sediments in its reservoir.       Canada?s Kyoto Con Job   Feb. =
4 (Electricity Daily) Canada?s official greenhouse plan makes no sense. Spe=
cial Offer from this Publisher!       Nuclear     Iran warns Israel against=
 attacking nuclear plant   DUBAI, Feb 4 (Reuters) Iran warned Israel on Mon=
day not to consider attacking its nuclear power plant, saying the Islamic r=
epublic would retaliate in ways "unimaginable" to the Jewish state.       N=
uclear power facility still operating after crack in reactor reportedly wid=
ening   by ANTHONY DEUTSCH Associated Press Writer, PETTEN, Netherlands, Fe=
b 04, 2002 (AP WorldStream via COMTEX) -- A crack in the wall of a small nu=
clear reactor raised concerns about safety practices at a medical and scien=
ce research institute, which agreed Monday to shut down later this week to =
allow more tests and training.      Financial     Budget would cut Tenn. Va=
lley Authority spending 8 pct   WASHINGTON, Feb 4 (Reuters) The Bush admini=
stration's fiscal 2003 budget proposal released on Monday would shave $634 =
million from the Tennessee Valley Authority's (TVA) federally backed capita=
l expenditures.       PPL stock is down, but not out   Feb 03 - Morning Cal=
l PPL Corp.'s stock price gained lots of momentum over the past eight month=
s.       US companies struggle to ease accounting fears   By Julie MacIntos=
h, NEW YORK, Feb 3 (Reuters) The fallout triggered by the Enron Corp. scand=
al has taken on a life of its own, fueled by investor anxiety, and is now r=
eaching into the nooks and crannies of major boardrooms across Corporate Am=
erica.      Financial - Ratings     TRADE IDEA-JP Morgan says to "overweigh=
t" Calpine   NEW YORK, Feb 4 (Reuters) J.P. Morgan Chase & Co. has advised =
investors to "overweight" bonds of independent power producer Calpine Corp.=
       British Energy sharply lower as Merrill slashes estimates   LONDON, =
Feb 04, 2002 (AFX-UK via COMTEX) --  Shares in British Energy PLC headed th=
e mid-cap fallers list after Merrill Lynch slashed its profits forecasts fo=
r the group due to the persistent weakness of the energy market, said deale=
rs.      Financial - Results     Parent of Tucson, Ariz., Power Firm Says E=
nergy Sales Helped Net Income   By Alan D. Fischer, The Arizona Daily Star,=
 Tucson, Feb. 2 Strong wholesale energy sales helped boost UniSource Energy=
 Corp.'s 2001 annual net income by 46 percent over a year ago, the company =
announced Friday.       CMS posts loss on warm weather, weak economy   DEAR=
BORN, Mich., Feb 4 (Reuters) CMS Energy Corp. on Monday reported a fourth-q=
uarter loss on higher power costs, as well as warmer-than-normal weather an=
d the weak economy which cut demand.      International     Enron collapse =
becomes an object lesson for Asian utilities   Feb 04, 2002 - Associated Pr=
ess Enron Corp.'s collapse, and other energy companies' subsequent revision=
 of expansion plans, may pose investment opportunities for Asian power comp=
anies but it will also slow deregulation schedules, said delegates at the A=
sia Power Conference 2002 in Singapore Monday.       UAE plans to link nati=
onal power grid into regional network   By Mena Report Reporters, February =
4, 2002 (Al-Bawaba via COMTEX) -- The United Arab Emirates (UAE) has ambiti=
ous plans to develop its existing power stations and to upgrade their produ=
ctive capacities, Minister of Electricity and Water Humaid Bin Nasser Al-Ow=
ais stated at the opening of Middle East Electricity exhibition this week. =
      Prosecutors open probe into energy cuts to military, but blackouts co=
ntinue   By VLADIMIR ISACHENKOV Associated Press Writer, MOSCOW, Feb 04, 20=
02 (AP WorldStream via COMTEX) -- Russian prosecutors on the far eastern Ka=
mchatka Peninsula have opened a criminal investigation into an electric uti=
lity that cut power to military space facilities because of debts, while bl=
ackouts continued at other Russian military sites Monday.       Credit Suis=
se will reportedly handle energy privatization   Feb 04, 2002 (New World Pu=
blishing via COMTEX) --  Credit Suisse First Boston has reportedly been app=
roached by the Trade and Industry Ministry to contact potential bidders for=
 the Czech energy sector.       Gov't hot, CEZ cold on a private near-futur=
e   By Chris Johnstone, Feb 04, 2002 (New World Publishing via COMTEX) --  =
While the Czech government is keeping alive hopes that it can pull off its =
biggest privatization ever - the sale of the CEZ electricity package - befo=
re June elections, the country's dominant power producer has already given =
up on an early sale.       Italy to receive new electricity supply from Gre=
ece   Feb 3, 2002, (Il Sole 24 Ore /FT Information via COMTEX) --  The Ital=
ian energy market will soon receive a new supply of electricity from Greece=
.       Minister Allays Fears Of NEPA Workers On Privatisation   By Emmanue=
l Aziken, Abuja, Feb 04, 2002 (Vanguard/All Africa Global Media via COMTEX)=
 --  THE Minister of State for Power and Steel, Mallam Murtala Aliyu, has u=
rged anxious staff of the National Electric Power Authority (NEPA) to be as=
sured of government commitment to their welfare even after the privatisatio=
n of the electric utility.       BNDES has R$28.5bi to finance power sector=
   Brazil, Feb 1, 2002 (Jornal do Brasil/SABI via COMTEX) --  The BNDES (Ba=
nco de Desenvolvimento Economico e Social) has announced that its portfolio=
 of investment resources for energy generation projects for 2002 is R$28.5b=
il, of which R$11.7bil is from the banks own resources.       Budget earmar=
ks $8 billion for energy investment   Feb. 4 (Latin American Power Watch) B=
razil is stepping up investment in the energy sector this year, according t=
o the federal budget. Special Offer from this Publisher!        Endesa to r=
educe Latin American investments   Brazil, Feb 1, 2002 (O Globo/SABI via CO=
MTEX) --  Endesa, Spain's largest energy company, is going to reduce its in=
vestments in Latin America.   [IMAGE]     Powered by Energy Central   ? 200=
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nron documents  Enron's board  brutally frank  in blaming self      Harvey =
Goldschmid advocated making securities law      Enron scraps  get really bi=
g      New Pa regulator confirmed      Enron ties lead to Lord John's quitt=
ing      What about the  Kenneth Lay prof?      Southern Union gets ready f=
or Tex gas market      Ore industrials see high prices if PGE is sold to ga=
s firm      Is it OK to make money on power sold to tenants?      Restructu=
ring Today (ISSN 1522-7324) is published 247 times a year on business days =
by US Publishing Co at 4418 MacArthur Boulevard, Washington DC        Power=
ed By US Publishing   ? 2002 US Publishing. All Rights Reserved.  More Info=
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