Message-ID: <28381082.1075840487707.JavaMail.evans@thyme> Date: Tue, 25 Jun 2002 01:02:57 -0700 (PDT) From: info@pmaconference.com To: chris.germany@enron.com Subject: PowerMarketers.com Daily Power Report for June 25, 2002 Mime-Version: 1.0 Content-Type: text/plain; charset=ANSI_X3.4-1968 Content-Transfer-Encoding: quoted-printable X-From: The Power Marketing Association X-To: Germany, Chris X-cc: X-bcc: X-Folder: \ExMerge - Germany, Chris\Deleted Items X-Origin: GERMANY-C X-FileName: chris germany 6-25-02.pst PowerMarketers.com =09 Home - JobSite _____ =20 =09 =09=20 The Power Marketing Association OnLine=09 E-mail Us - Submit News Release =09 The POWER REPORT...continuously updated online=09 =09 Breaking News updated every 6 minutes National, International, KRT, Reute= rs ... Classifieds... Energy JobSite, Upcoming Conferences =09 Prices & Weather... Next-Day Power Prices , Next-Day Nat Gas Prices , Electricity Futures, Natural Gas Futures, Spot Prices, Weather =09 Energy Library... Online Training, Top Marketers, Articles/Features, Bulk Power Report, Power Glossary , Energy Bookstore =09 Industry Directories... Energy Links, Directory of Power Marketers, Energy White Pages, Energy Yellow Pages =09 Site Services... Add To Mailing List, About Membership, Contact Us, Ad Info =09 Audio/Video=09=20 =20 The following presentations are from previous PMA conferences. =20 Click on a presentation title below to stream the presentation in your brow= ser, or on "Download" to copy the file to your local drive for future use. Requires Realplayer Download RealPlayer 8 free. =20 =20 All New From PMA's POWER MARKETS 2002: RISK & REWARD April 17-18, 2002=20 =20 Midwest ISO Mark Volpe, Midwest ISO =20 The State of Power Marketing Kevin T. Howell, Dominion Energy Clearinghouse =20 New Generating Capacity Dave Freeman, Panda Energy =20 Maximizing Profits Cary Bullock, Excelergy =20 California ISO Don Fuller, California ISO =20 Innovations In Insurance Pat Toner Goudarzi, Ace =20 European Markets Adrian Palmer, Caminus =20 Career Trends Cabell Poindexter, Wyndham Mills =20 =20 Google =09 =09 FREE SUBSCRIPTION=09=20 Our current readership includes over 40,000 industry professionals. Sign up now for a free subscription to the daily POWER REPORT e-mail editio= n. This is a free subscription - you will never be charged. =20 Join the PowerMarketers.com mailing list =09 Email: =09 Send Page To a Friend =09 - click on headline to view story -=09 TOP STORIES=09=20 Houston's Energy Market Down but Not Out June 24 -- Not so long ago, you could stand at the now infamous tilted E do= wntown and look north down Electricity Alley -- the thriving nexus of some = of world's biggest energy trading companies. These days, that stretch is mo= re like a row of steel and glass dominoes in danger of being tipped by the = fall of the E logo's namesake: Enron Corp. Energy companies that were proud= to show off fast-growing operations and glitzy new trading floors are now = cutting deeply and concentrating on tangible assets, such as pipelines and = power plants. A rush to convince investors they're not the next Enron is ta= king it's toll on the people who held the high-pressure, high-paying jobs o= n the trading floors of those downtown skyscrapers. Better Nuclear, Power Defenses Needed -U.S. Report =20 June 24 -- The United States needs to get moving to protect nuclear plants = and the power grid against future attacks and may need to reorganize the wa= y government agencies work together, top scientists said on Monday. The cou= ntry also has "enormous vulnerabilities" to a chemical or biological attack= , made clear after the Sept. 11 attacks, said a report from the National Ac= ademy of Sciences, an independent organization that advises the government.= One top priority will be working with Russia to keep track of nuclear weap= ons and radioactive material that could be used either in a nuclear attack,= or in a "dirty bomb" that would spread radioactive toxins using a conventi= onal blast. Enron Used Reserves To Hide Profits June 24 -- Enron Corp. used hidden reserves to conceal up to $1.5 billion i= n trading profits during the California power crisis, six former executives= and managers told the New York Times. In its Sunday edition, the paper sai= d the reserves would have doubled the now-bankrupt energy trader's profits = during the California energy crisis in late 2000 and early 2001, at a time = when politicians were accusing energy companies of profiteering and market = manipulation. Houston-based Enron also manipulated the reserves -- which he= ld anywhere from $800 million to $2 billion at times -- to report steady pr= ofit growth, according to some former executives, the Times said. Arizona Blaze So Far Spares Transmission Grid June 24 -- Arizona's main electric utilities said Monday the largest wildfi= re in the state's history so far has not burned into the transmission grid = carrying power to the Phoenix and Tucson areas. Arizona Public Service, the= utility subsidiary of Pinnacle West Corp. ((PNW.N)), and the Salt River Pr= oject, a public power utility, said the fire that has blackened more than 3= 22,000 acres (130,000 hectares) in Arizona's eastern high country has burne= d close to two 500-kilovolt power lines but they were still operating as of= early today. The vast blaze, which started last Tuesday, has come to withi= n 1-1/2 miles of a high-voltage line that runs from the Cholla power statio= n in St. Joseph City to the Saguaro power plant north of Tucson, said Damon= Gross, a spokesman for Arizona Public Service. =20 =09 =09 =09=20 Mergers: In Sickness and in Health Scientech -- June 24 -- Potomac Electric Power Company and Conectiv, announ= ced that the New Jersey Board of Public Utilities voted to approve the merg= er of the two companies. Today's action leaves approval by the U.S. Securit= ies and Exchange Commission (SEC) as the last necessary to complete the mer= ger. The merger, proposed in February 2001, has received approvals from the= Federal Energy Regulatory Commission (FERC), and has cleared review by the= Federal Trade Commission and the U.S. Department of Justice. Delaware and = the District of Columbia, Maryland, Pennsylvania, and Virginia had previous= ly approved the merger. Dennis Wraase, Potomac Electric Power Company (Pepc= o) president and chief operating officer said, "This is a key milestone in = the completion of the Pepco-Conectiv merger. With the final state approval = now in place, the way is cleared for the SEC to act. We are excited about m= oving to this final stage, as we believe the merger offers significant bene= fits for customers, shareholders and employees." Analysis: When Pepco and C= onectiv decided to merge, they wanted to create the largest electricity-del= ivery company in the mid-Atlantic region with a transmission network servin= g 1.8 million customers in a 10,000 square-mile area.=20 Energy Risk - Australia Risking Millions In Income By Not Signing Climate C= hange Protocol RiskCenter.com -- June 24 -- Australia is risking hundreds of millions of d= ollars in export income by not signing the Kyoto protocol on climate change= , according to the Australian EcoGeneration Association (AEA). AEA, a peak = group for renewable energy and energy-efficient generators, says figures pr= ovided by federal and New South Wales research show that Australia will be = only 5 per cent or less over its Kyoto target by 2008 when the protocol tak= es effect. As a result, abatement measures to reduce greenhouse gas to 108 = per cent of 1990 levels by 2008 would not be costly, AEA says. NSW recently= announced measures to cut per capita greenhouse emissions by 5 per cent of= 1990 levels in 2006. Reuters INTERVIEW-El Paso Natgas Decision Due by summer's End =20 US House Panel Intensifies Global Crossing Probe =20 Exxon, Qatar Sign Pact To Supply UK with LNG =20 Correction - New York - Judge OKs Tripled Severance for Enron Workers =20 Judge OKs Tripled Severance for Enron Workers =20 Peru Poll Shows Toledo's Popularity at Nadir =20 Nymex Crude Ends Up Sharply, Mideast Tension, OPEC =20 Update 1-Peru's Toledo Sees Lowest Poll Plunge =20 El Paso Unit U.S. SE Gas Pipeline Expansion Begins =20 Warm Weather Boosts U.S. Spot Natural Gas =20 Study Finds U.S. Salary Increases Slow in 2002 =20 Arizona Blaze So Far Spares Transmission Grid =20 Royal Bank Canada Sued by Rabo Over Enron-related Loan =20 German Prompt Power Firm, French Imports Curbed =20 S.Africa Says Working On Restructuring for Eskom =20 Iaea, U.S. To Help Russia Find Lost Nuke Material =20 Royal Bank Canada Sued Over Enron-related Loan =20 Former Kazakh Energy Minister Goes On Trial =20 UK Power Sags, Ample Supplies Despite Sizewell B =20 Nymex Oil Rise Early On Mideast Jitters, Ahead of OPEC =20 CDC Takes Slice of Vivendi Env Capital Increase =20 Peru's Toledo Continues Plunge in Polls =20 Nymex Oil Up Midday, Mideast Tension as OPEC Looms =20 One.Tel Moves Into UK Mobile Market with Vodafone =20 Yemen Seeks Foreign Investment in Energy Sector =20 Philippines Says No Urgency To Raise Napocor Cash =20 Italy's ASM Di Brescia Gets Consob Ok for IPO =20 Insurers Say J.P. Morgan Made Enron Look better-WSJ =20 Czech Cez Mulls Listing On Foreign Stock Exchange =20 Spain's Ibex Opens Mixed, Telefonica Rebounds =20 SembCorp ((SCIL.SI)) To Take Marine Unit Private =20 Navigant Buys Andersen's gov't Contracts Business =20 Nymex Oil To Rise Amid Mideast Tensions, Awaits OPEC =20 UK Prompt Natural Gas Softer, Traders Eye OPEC =20 Nordic Power Prices Fall On Wet Weather Forecasts =20 Vivendi Group Shares Halted Ahead of Statement =20 Australia power-Prices Stable Despite High Demand =20 Pacific Hydro((PHY.AX)) Rises After Insurance Payment =20 Press Digest - Wall Street Journal - June 24 =20 RPT-Energy Prices Push Indian Inflation Higher =20 China Resources Logic To Buy Mainland Firm - Papers =20 Update 1-Energy Prices Push Indian Inflation Higher =20 Portland General Gets Subpoena On "wash" Trades =20 Los Angeles Utility Tied To Trading Scheme- Report =20 Peru Privatization Chief Withdraws Resignation =20 Siemens Sees Slowdown in U.S. Power Business-paper =20 Calif. Gov. Seeks Wider SEC Probe of Power Market =20 Update 2-Avista Gets Subpoena On "round-trip" Trades _____ =20 KRT Monday, June 24, 2002 Northern Indiana Public Service Electric Customers to Get Annual Credit (South Bend Tribune, Ind.) =20 Utility Deals Explained in Nevada (Las Vegas Review-Journal) =20 Electric Firm's 600 Job Cuts to Touch Work Force in Lancaster, Pa. (Lancaster New Era, Pa.) =20 Houston's Energy Market Down but Not Out (Houston Chronicle) =20 Montana Power Shareholders Say Their Case Should Move Forward (The Montana Standard, Butte) =20 Tinder-Dry Conditions Slow Electric Line Project to Nogales, Ariz. (The Arizona Daily Star, Tucson) National Energy News =09=20 Monday, June 24, 2002 NRG Energy, Inc. Completes $325,000,000 Financing (Business Wire) =20 XCEL Energy Has Plans to Overcome S&P Downgrade; NRG Integration Into Xcel = Energy Under Way (Business Wire) =20 -Atlanta-Based Georgia Power Wins Minority-Supplier Honors (Knight Ridder Tribune) =20 -Oklahoma Official Would Welcome Inquiry into Utility Ratepayer Settlement = (Knight Ridder Tribune) =20 -Mergers: In Sickness and in Health (Scientech) =20 -Energy Risk - Australia Risking Millions In Income By Not Signing Climate = Change Protocol (RiskCenter.com) =20 GUERNSEY Study Shows Contradiction in Common Energy Belief (PR Newswire) =20 Southern Company Energy Solutions and Atlantic Station Partner to Develop S= outheast's Largest Central Cooling System (PR Newswire) =20 Aecl Technologies Inc. Launches the Acr-700 in the US-Advanced Candu Reacto= r Represents the Lowest-Cost Design of New Generation Reactors And Real Com= petition for Gas-Fired Technologies (PR Newswire) =20 Calif. Senate delays vote on L.A. power official (Greenwire) =20 Southern Natural Gas Announces Completion of First Phase of Pipeline Expans= ion Project (PR Newswire) =20 Vermont Energy Summit to Highlight Demand Response Efforts (PR Newswire) =20 Florida Power & Light Company Signs Premier Dynamic Services Deal with Pant= ellos; More Than 18 Percent Savings Lead to 12-Month Deal (Business Wire) =20 Although power crisis worries fade, more see conservation as smart buy (The Modesto Bee) =20 Francisco Partners To Acquire GE Global eXchange Services From General Elec= tric Company (Business Wire) =20 Open Today - First Plant to Make Pollution-Free Fuel From Raw Coal; Top Gov= ernment And Industry Leaders Including Leading Execs from Arch Coal And Gen= Power Meet for Launch of CENfuel Process (Business Wire) =20 International Energy News =09=20 Monday, June 24, 2002 Mart Resources Inc - Interest in West African Power Project (Market News Publishing) =20 The Extraordinary General Meeting of Huaneng Power Passed The Relevant Reso= lutions to Acquire the Interests And Assets of Four Power Plants Owned by t= he China Huaneng Group (PR Newswire) =20 Australia's Pacific Hydro Unit Receives Final Insurance Payment (Asia Pulse Pte Ltd) =20 International experts begin inspection of Kosloduy power plants (Deutsche Presse-Agentur (dpa)) =20 Secretive Task Force Set to Launch Power Shake-up (South China Morning Post) =20 China, Kazakhstan Discuss Cooperation in Energy Sector (BBC Monitoring Asia Pacific - Political) =20 State Power Planning Bureau Approves Steam Combined Units Project in Zhangj= iagang (Interfax Information Services, B.V.) =20 Daya Bay Nuclear Plant Sells 101.5 Bln kWh of Power by April (Interfax Information Services, B.V.) =20 The Extraordinary General Meeting of Huaneng Power Passed The Relevant Reso= lutions to Acquire the Interests and Assets of Four Power Plants Owned by t= he China Huaneng Group (PR Newswire) =20 Indonesia to build Java-Sumatra undersea power transmission cable (AFX News Limited) =09 =09 _____ =20 POWER REPORT Energy News Sections: N= ational -International -Reuters -KRT Daily -Employment -Weather =09 _____ =20 Copyright ? 2002 PowerMarketers.com. All rights reserved. Questions or Comments Legal Notices =09 back to the top This email was sent to chris.germany@enron.com, by PowerMarketers.com .=20 Visit our Subscription Center to edit your interests or = unsubscribe .=20 View our privacy policy .