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Date: Thu, 8 Jul 1999 07:00:00 -0700 (PDT)
From: mark.taylor@enron.com
To: mark.elliott@enron.com, paul.simons@enron.com, justin.boyd@enron.com, 
	scott.sefton@enron.com
Subject: Swiss Atel Starts Electricity Derivative Trading Co
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 Swiss Atel Starts Electricity Derivative Trading Co
   
 07/08/1999 
 Dow Jones International News 
 (Copyright (c) 1999, Dow Jones & Company, Inc.) 

 ZURICH (Dow Jones)--Aare-Tessin AG (Z.AAR), the Swiss power company known as 
Atel, said
 Thursday that it has set up a company for derivatives trading. 

 Atel said it's launching the new company, derivAtel, amid the deregulation 
of Europe's electricity
 markets.

 "In this manner the market position of Atel will be strengthened," Atel said 
in a press release. 

 The company will offer derivatives to hedge volatile electricity prices. 

 Atel said it received permission for derivative trading from the Federal 
Banking Commission on July
 1. 

 (END) Dow Jones Newswires 08-07-99 

 1322GMT