enron mentions usa enron seen facing long road restore confidence reuters english news service 10 17 01 usa update 1 rto seen key boosting new england power supply reuters english news service 10 17 01 enron seeks replacement aga gas storage report dow jones energy service 10 17 01 financial post news earnings bright spots shadows yesterday earnings national post 10 17 01 bush nominate kelliher open ferc seat white house says bloomberg 10 17 01 energy regulators may loosen price caps western power sales bloomberg 10 17 01 enron faces questions limited partnerships wsj reports bloomberg 10 17 01 usa enron seen facing long road restore confidence andrew kelly 10 17 2001 reuters english news service c reuters limited 2001 houston oct 17 reuters enron corp moved right direction releasing detailed financial data tackling problems peripheral businesses energy giant still way go make wall street happy analysts said wednesday enron north america biggest buyer seller natural gas electricity reported first quarterly loss four years tuesday company took 1 01 billion charges writedowns ill fated investments measures enron executives said credit rating agencies comfortable ubs warburg analyst ronald barone said wednesday thrilled announcement conference call discuss third quarter earnings good reason moody investors service subsequently issued statement saying placed enron long term debt obligations review possible downgrade appears much work ahead lingering credibility issues vexed company past fully resolved barone said writedowns poorly performing assets detailed breakdown company operations went way appeasing wall street tumultuous year enron stock lost two thirds value analysts said let enron hook yet bear stearns analyst robert winters said remained concerned enron quality earnings cash flow winters said believed enron would liked take even bigger charges writedowns unable without putting credit ratings risk could adversely affect company financing arrangements problem assets overvalued assets balance sheet remain particularly overseas said one asset enron 65 percent stake valued 1 billion dabhol power plant project india stalled long running payments dispute customer local utility company enron stock closed 1 64 4 85 percent 32 20 wednesday year date stock 61 percent underperforming standard poor utilities index fallen 24 percent period enron wall street favorite last year stock posted gain 87 percent driven enthusiasm company broadband plans success enrononline internet energy commodity trading platform stock fallen sharply year sentiment toward broadband soured new chief executive jeff skilling resigned six months job wrangling continued dabhol power plant project copyright 2000 dow jones company inc rights reserved usa update 1 rto seen key boosting new england power supply scott disavino 10 17 2001 reuters english news service c reuters limited 2001 new york oct 17 reuters energy companies said future development new power plants transmission lines u northeast hinges part setting northeast regional transmission organization rto rtos predominantly profit groups established bring region high voltage transmission lines central control ensuring equal access lines power suppliers seeking market goods across grid federal energy regulatory commission ferc oversees interstate wholesale power market believes rtos benefit consumers enhancing competition among power providers turn improving service driving rates ferc drive northeast rto closure reasonable period time accelerate development new transmission generation enron corp managing director global government affairs rick shapiro told reuters houston based enron nation top energy marketer rto gets implemented radically impact market crucial development market new england mirant corp spokesman ray long told reuters energy provider mirant atlanta 1 400 megawatts mw generation new england company currently adding another 700 mw canal station massachusetts get permits canal reassess whether proceed project big part assessment depend rto process long said northeast rto ferc wants see four super regional rtos created u northeast midwest southeast west several regions taken long strides toward developing rtos including profit model proposed midwest rival profit plans vying ferc approval west ferc chairman patrick wood seeking spur development rtos favors giving utilities dec 15 join one forfeit right sell electricity wholesale market though commission voted plan northeast rto include new england new york pennsylvania new jersey maryland pjm region possibly parts eastern canada ferc said wants northeast rto built pjm market platform include best practices new england new york markets pjm interconnection operates power grid parts pennsylvania new jersey maryland delaware virginia washington c nation fully functioning rto process ferc set place establish one rto pjm new york new england going get us need terms vibrant wholesale market long said long said mirant determined single northeast rto would save 440 million annually eliminating artificial borders exist new york new england pjm administrative law judge acting mediator ferc considered three proposals creating northeast rto three plans proposed interested parties including mirant enron region grid operators new york independent system operator iso new york iso new england new england pjm last month judge asked ferc decide govern northeast rto timetable put plan place judge favored plan put forward new york iso iso new england ferc implements rto plan proposed pjm 2003 consumers could save 1 5 billion 440 million year new york new england plan would implemented 2006 long said pjm plan pjm would overlay current market model across entire region adopting best practices markets although nothing perfect pjm widely accepted best market region new york new england younger markets still works progress bugs work enron shapiro said copyright 2000 dow jones company inc rights reserved enron seeks replacement aga gas storage report 10 17 2001 dow jones energy service copyright c 2001 dow jones 713 547 9207 michael rieke dowjones com copyright 2000 dow jones company inc rights reserved financial post news earnings bright spots shadows yesterday earnings national post 10 17 2001 national post national fp 2 c national post 2001 rights reserved maytag corp reported third quarter net loss us 29 7 million yesterday said sales maytag amana home appliances exceeded forecasts net income excluding charges us 45 cents share delphi automotive systems corp said third quarter profit fell 82 third quarter profit us 26 million us 5 cents drop us 148 million us 26 cents third quarter 2000 revenue us 6 23 billion 6 enron corp posted third quarter net loss chopped away tangled balance sheet us 1 01 billion charges offsetting strong returns core wholesale trading marketing division charges profit 35 enron reported net loss us 638 million us 84 cents compared year earlier net income us 271 million us 34 cents netgraphe inc montreal based internet company reported higher revenue reduced operating loss first quarter net loss included depreciation unusual items amortization goodwill related acquisitions rose 11 7 million 10 97 million netgraphe online division quebecor inc tellabs inc telecommunications equipment maker reported third quarter plunge revenue fell half illinois based company results including charges us 60 million fell loss us 49 47 million usl 2 cents compared profit us 187 3 million us 45 cents last year cott corp world largest supplier store brand soft drinks reported 40 rise third quarter profit beverage volumes soared nearly 25 quarter ended sept 29 toronto based cott annual sales nearly us 1 billion last year said made profit us 11 1 million usl 6 cents profit us 7 9 million usl 2 cents previous year quarter sales quarter rose 15 us 302 5 million us 263 5 million year ago period kraft foods inc saw earnings rise 24 third quarter second public company earned us 522 million us 30 cents compared us 420 million us 24 cents pro forma basis year ago revenue slipped us 8 06 billion us 8 11 billion year earlier copyright 2000 dow jones company inc rights reserved bush nominate kelliher open ferc seat white house says 2001 10 17 16 09 new york bush nominate kelliher open ferc seat white house says washington oct 17 bloomberg president george w bush nominate joseph kelliher policy adviser u energy secretary spencer abraham fill open seat federal energy regulatory commission white house said senate approves kelliher former republican counsel house energy commerce committee commission full five members first time since pat wood bush first ferc appointee became chairman sept 1 hope speed process said commissioner nora brownell republican appointed bush earlier year thoughtful person knows work issues kelliher nomination comes commission pledged closely monitor investigate abuses electricity natural gas markets promote competition next month due choose groups run electric power grid around country important step deregulating nation power markets former power industry lobbyist kelliher would fill opening left departure curt hebert republican appointed president bill clinton named chairman bush hebert left commission aug 31 join entergy corp white house made clear bush planned make wood chairman kelliher ferc three republicans two democrats kelliher valuable final addition team working actively finish transition truly competitive dynamic power markets said electric power supply association represents competitive power sellers enron corp commission responsible ensuring fair wholesale electricity natural gas prices energy regulators may loosen price caps western power sales 2001 10 17 14 59 new york energy regulators may loosen price caps western power sales washington oct 17 bloomberg federal regulators considering changes wholesale price caps electricity california 10 western states power producers hope allow charge supplies region tight federal energy regulatory commission plans public conference oct 29 discuss altering pricing formula commission established caps april june skyrocketing electricity costs led insolvency california largest utilities units pg e corp edison international heard understand people think solution california centric ferc chairman pat wood said indicating changes formula likely california needs urgent time commissioners declined say would willing change pricing formula want fine tune caps winter peak period demand may yet cause another jump prices wood said changes could made next month current pricing formula based expensive power generated california enron corp sierra pacific resources sellers power california want formula consider costs generators region enron blamed formula july 2 blackout nevada sellers withheld supply local prices low based highest cost supply offered california lower power costs though cost wholesale power california dropped since commission ordered first emergency cap april 25 wood said western states may face another shortage power high prices winter pacific northwest depends hydropower much energy needs rainfall normal year part shortfall power last year early year result drought reduced power available dams remain concerned part country wood said raining whole lot average price megawatt hour california oregon border september 24 91 313 70 april megawatt hour enough electricity power 750 average california homes hour agenda month conference proposal link formula price natural gas fuel used many generating plants predisposed specific changes said ferc commissioner nora brownell oct 29 conference help commission determine aspects price control parties involved agree working said surcharge related matter commission also may halt 10 percent surcharge permits generators charge california cover costs collecting bad debt insolvent california utilities plans pay debts power sellers west current price caps often require utilities sell excess power loss enron sierra pacific marketers said statements commission said price sometimes pay power higher cost supply expensive producer california determination proxy price limited california generators enron said government filing determined least efficient generator entire west power marketers also allowed recover justifiable costs proxy prices enron wrote california officials demanded price controls pg e pacific gas electric edison southern california edison racked 14 billion power buying losses caps extended western states oregon washington arizona nevada wyoming new mexico colorado montana idaho utah june said generators west could simply get around cap selling outside california prices higher elsewhere caps expire sept 30 2002 though changed california said price cap extended states sometimes outbid buyers neighboring states prices caps buy enough electricity avoid blackouts july 2 sierra pacific cut supplies 10 000 customers 45 minutes temperatures soared three power plants idled buy 50 megawatts power spot market partly suppliers concerns federal cap company spokesman paul heagan said time enron faces questions limited partnerships wsj reports 2001 10 17 10 11 new york houston oct 17 bloomberg enron corp facing questions agreements two limited partnerships run chief financial officer andrew fastow wall street journal reported fastow set ljm cayman lp ljm 2 co investment lp approval enron board partnerships engaged billions dollars complex hedging transactions enron involving company assets enron stock paper said clear u securities exchange commission filings enron received return enron said 35 million 1 01 billion charge reported yesterday connected partnerships involves early termination certain structured finance arrangements paper said chief executive officer kenneth lay said earlier interview related transactions involving top managers unusual paper said according arrangement general partner made fastow least one enron employee received management fee much 2 percent annually total amount invested paper said citing ljm 2 offering document fastow declined comment paper said