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Enron Mail |
----- Forwarded by Jeff Dasovich/NA/Enron on 03/06/2001 04:24 PM -----
Jean Munoz <jmunoz@mcnallytemple.com< 03/06/2001 02:36 PM To: Katie Kaplan <kaplan@iepa.com<, "'Andy Brown (E-mail)'" <ABB@eslawfirm.com<, "'B Brown Andy (E-mail)'" <andybrwn@earthlink.net<, "'Baker Carolyn (E-mail)'" <cabaker@duke-energy.com<, "'Bob Escalante (E-mail)'" <rescalante@riobravo-gm.com<, "'Bob Weisenmiller (E-mail)'" <rbw@mrwassoc.com<, "'Curtis Kebler (E-mail)'" <curtis_l_kebler@reliantenergy.com<, "'Douglas Kerner (E-mail)'" <DKK@eslawfirm.com<, "'Greg Blue (E-mail)'" <gtbl@dynegy.com<, "'Jan Smutny-Jones (E-mail)'" <smutny@iepa.com<, "'Jeff Dasovich (E-mail)'" <Jeff.Dasovich@enron.com<, "'Joe Ronan (E-mail)'" <joer@calpine.com<, "'John Larrea (E-mail)'" <john.g.larrea@williams.com<, "'John Stout (E-mail)'" <John_H_Stout@reliantenergy.com<, "'Julee Malinowski-Ball (E-mail)'" <jmball@ns.net<, "'Kassandra Gough (E-mail)'" <kgough@calpine.com<, "'kent Palmerton (E-mail)'" <kent.palmerton@williams.com<, "'Kristin Vellandi (E-mail)'" <kvellandi@pstrategies.com<, "'Lynn Lednicky (E-mail)'" <lale@dynegy.com<, "'Marty Wilson (E-mail)'" <mwilson@pstrategies.com<, "'McNally Ray (E-mail)'" <rmcnally@mcnallytemple.com<, "''Nam Nguyen' (E-mail)'" <nam.nguyen@powersrc.com<, "'Norton Kelli (E-mail)'" <knorton@mcnallytemple.com<, "'Paula Hall-Collins (E-mail)'" <paula.hall-collins@williams.com<, "'Pigott Jack (E-mail)'" <jackp@calpine.com<, "'Richard Hyde (E-mail)'" <rwhyde@duke-energy.com<, "'Rob Lamkin (E-mail)'" <rllamkin@seiworldwide.com<, "'Roger Pelote (E-mail)'" <roger.pelote@williams.com<, "'Stephanie-Newell (E-mail)'" <stephanie-newell@reliantenergy.com<, "'Sue Mara (E-mail)'" <smara@enron.com<, "'Theo Pahos (E-mail)'" <tpahos@ppallc.com<, "'Tom Ross (E-mail)'" <tross@mcnallytemple.com<, "Carol H Hudson (E-mail)" <Chudson@iepa.com<, steven kelly <steven@iepa.com<, <danielle.quan-hill@mirant.com<, "'Anne Kelly (E-mail)'" <kelly@hnks.com<, "'Chuck Cole (E-mail)'" <ccole@advocation-inc.com<, "'Delany Hunter (E-mail)'" <dhunter@smithandkempton.com<, "'DJ Smith (E-mail)'" <djsmith@smithandkempton.com<, "'Hedy Govenar (E-mail)'" <hgovenar@acom2.com<, <mmoretti@mccabeandcompany.net<, "'Maureen OHaren (E-mail)'" <Oharen@hmot.com<, "'Mike Monagan (E-mail)'" <mrmonagan@aol.com<, "'Phil Isenberg (E-mail)'" <isenberg@hmot.com<, "'Robert Ross (E-mail)'" <robbiz@cwo.com<, "'Ron Tom (E-mail)'" <Rtom@govadv.com<, "'Scott Govenar (E-mail)'" <sgovenar@govadv.com<, "'Susan Mccabe (E-mail)'" <sfmccabe@mindspring.com<, <rtemple@mcnallytemple.com<, <twillia@duke-energy.com< cc: Subject: More IEP news 3/6 More IEP news for today .... thanks! Jean -- Jean Munoz McNally Temple Associates, Inc. 916-447-8186 916-447-6326 (fx) _______________________________________________ March 6, 2001, Tuesday 02:30 PM Eastern Time DISTRIBUTION: Business Editors LENGTH: 1190 words HEADLINE: Dynegy and NRG Energy Announce Long-term Agreement With California Department of Water Resources DATELINE: HOUSTON & MINNEAPOLIS, March 6, 2001 BODY: Dynegy Inc. (NYSE:DYN) and NRG Energy, Inc. (NYSE:NRG) today announced that their affiliates, El Segundo Power LLC, Long Beach Generation LLC and Cabrillo I LLC, have entered into an agreement with the California Department of Water Resources (DWR) to provide the state with up to 2,300 megawatts (MW) of energy through 2004. Under the terms of the agreement which begins today, Dynegy and NRG's affiliates will provide 1,000 MW to DWR for the balance of 2001, and beginning January 1, 2002 will provide up to 2,300 MW. Financial and other terms of the transaction were not disclosed. "Since last summer, Dynegy and NRG have continued to produce all the power the state has requested. We have worked diligently with the DWR to capture the value of our in-state generation, balanced with California's long-term energy needs," said Steve Bergstrom, president and chief operating officer of Dynegy Inc. Craig A. Mataczynski, president and chief executive officer of NRG North America, said, "Today's announcement solidifies our commitment to eliminating uncertainty for our respective shareholders and restoring price stability and future reliability to the California electricity market." Dynegy Inc. is a leading provider of energy and communications solutions to customers in North America, the United Kingdom and Continental Europe. The company's leadership position extends across the entire convergence value chain, from power generation and wholesale and direct commercial and industrial marketing and trading of power, natural gas, coal emission allowances, weather derivatives, and broadband to transportation, gathering and processing of natural gas liquids. For more information on Dynegy visit our web site at www.dynegy.com. NRG Energy is a leading global energy company primarily engaged in the acquisition, development, construction, ownership and operation of power generation facilities. NRG owns all or a portion of 66 power generation projects and its net ownership interest in these projects is 16,704 MW. The company's operations utilize such diverse fuel sources as natural gas, oil, coal and coal seam methane, biomass, landfill gas, and hydro, as well as refuse-derived fuel. More information on NRG Energy is available at www.nrgenergy.com. Certain statements included in this news release are intended as "forward-looking statements" under the Private Securities Litigation Reform Act of 1995. These statements include assumptions, expectations, predictions, intentions or beliefs about future events. Dynegy and NRG caution that actual future results may vary materially from those expressed or implied in any forward-looking statements. Some of the key factors that could cause actual results to vary from those Dynegy and NRG expect include changes in commodity prices for energy or communications products or services; the timing and extent of deregulation of energy markets in the U.S.; general capital market conditions; the effectiveness of Dynegy's and NRG's risk management policies and procedures; the liquidity and competitiveness of wholesale trading markets for energy commodities, including the impact of electronic or online trading in these markets; operational factors affecting Dynegy's and NRG's power generation or Dynegy's midstream natural gas facilities; and uncertainties regarding environmental regulations or litigation and other legal or regulatory developments affecting Dynegy's and NRG's businesses. More information about the risks and uncertainties relating to these forward-looking statements are found in Dynegy's and NRG's SEC filings, which are available free of charge on the SEC's web site at http://www.sec.gov. CONTACT: NRG Energy, Inc., Minneapolis Media: Meredith Moore 612/373-8892 or Dynegy Inc. John Sousa 713/767-5800 or Analysts: Rick Huckle, NRG Energy 612/313-8900 or Margaret Nollen, Dynegy Inc. 713/507-6466 URL: http://www.businesswire.com LOAD-DATE: March 6, 2001 2 of 8 DOCUMENTS Copyright 2001 PR Newswire Association, Inc. PR Newswire March 6, 2001, Tuesday 2:29 PM Eastern Time SECTION: FINANCIAL NEWS DISTRIBUTION: TO BUSINESS AND ENERGY EDITORS LENGTH: 683 words HEADLINE: Dynegy and NRG Energy Announce Long-Term Agreement With California Department Of Water Resources DATELINE: HOUSTON and MINNEAPOLIS, March 6 BODY: Dynegy Inc. (NYSE: DYN) and NRG Energy, Inc. (NYSE: NRG) today announced that their affiliates, El Segundo Power LLC, Long Beach Generation LLC and Cabrillo I LLC, have entered into an agreement with the California Department of Water Resources (DWR) to provide the state with up to 2,300 megawatts (MW) of energy through 2004. Under the terms of the agreement which begins today, Dynegy and NRG's affiliates will provide 1,000 MW to DWR for the balance of 2001, and beginning January 1, 2002 will provide up to 2,300 MW. Financial and other terms of the transaction were not disclosed. "Since last summer, Dynegy and NRG have continued to produce all the power the state has requested. We have worked diligently with the DWR to capture the value of our in-state generation, balanced with California's long-term energy needs," said Steve Bergstrom, president and chief operating officer of Dynegy Inc. Craig A. Mataczynski, president and chief executive officer of NRG North America, said, "Today's announcement solidifies our commitment to eliminating uncertainty for our respective shareholders and restoring price stability and future reliability to the California electricity market." Dynegy Inc. is a leading provider of energy and communications solutions to customers in North America, the United Kingdom and Continental Europe. The company's leadership position extends across the entire convergence value chain, from power generation and wholesale and direct commercial and industrial marketing and trading of power, natural gas, coal emission allowances, weather derivatives, and broadband to transportation, gathering and processing of natural gas liquids. For more information about Dynegy, please visit the company's web site at www.dynegy.com. NRG Energy is a leading global energy company primarily engaged in the acquisition, development, construction, ownership and operation of power generation facilities. NRG owns all or a portion of 66 power generation projects and its net ownership interest in these projects is 16,704 MW. The company's operations utilize such diverse fuel sources as natural gas, oil, coal and coal seam methane, biomass, landfill gas, and hydro, as well as refuse-derived fuel. More information on NRG Energy is available at www.nrgenergy.com. Certain statements included in this news release are intended as "forward- looking statements" under the Private Securities Litigation Reform Act of 1995. These statements include assumptions, expectations, predictions, intentions or beliefs about future events. Dynegy and NRG caution that actual future results may vary materially from those expressed or implied in any forward-looking statements. Some of the key factors that could cause actual results to vary from those Dynegy and NRG expect include changes in commodity prices for energy or communications products or services; the timing and extent of deregulation of energy markets in the U.S.; general capital market conditions; the effectiveness of Dynegy's and NRG's risk management policies and procedures; the liquidity and competitiveness of wholesale trading markets for energy commodities, including the impact of electronic or online trading in these markets; operational factors affecting Dynegy's and NRG's power generation or Dynegy's midstream natural gas facilities; and uncertainties regarding environmental regulations or litigation and other legal or regulatory developments affecting Dynegy's and NRG's businesses. More information about the risks and uncertainties relating to these forward- looking statements are found in Dynegy's and NRG's SEC filings, which are available free of charge on the SEC's web site at http://www.sec.gov. SOURCE Dynegy Inc. and NRG Energy, Inc. CONTACT: media, John Sousa of Dynegy Inc., 713-767-5800; or Meredith Moore of NRG Energy, Inc., 612-373-8892; or analysts, Margaret Nollen of Dynegy Inc., 713-507-6466; or Rick Huckle of NRG Energy, Inc., 612-372-5414 URL: http://www.prnewswire.com LOAD-DATE: March 6, 2001 5 of 8 DOCUMENTS Copyright 2001 News World Communications, Inc. The Washington Times March 06, 2001, Tuesday, Final Edition SECTION: PART B; BUSINESS; Pg. B9 LENGTH: 478 words HEADLINE: California contracts for power at a lot less BYLINE: BLOOMBERG DATELINE: LOS ANGELES BODY: LOS ANGELES (Bloomberg) - California Gov. Gray Davis said the state agreed to buy electricity from more than 20 suppliers over 10 years at an average price of $69 per megawatt-hour, less than half the average price utilities paid last year. California's Department of Water Resources will buy as much as 8,886 megawatts, enough to light about 9 million homes, under contracts ranging from four months to 20 years. The suppliers include Enron Corp., Calpine Corp., Duke Energy Corp., Williams Cos Inc., Dynegy Inc. and Reliant Energy. California's two biggest electric utilities, PG&E Corp.'s Pacific Gas & Electric and Edison International's Southern California Edison, owe more than $ 12 billion to power generators and can't buy more. The utilities have been paying more for power than California regulators allow them to charge consumers. The state is buying power on behalf of the utilities. "These agreements are the bedrock of our long-term energy policy," Mr. Davis told reporters in Los Angeles. He expects the price of electricity in the contracts will prevent the need for further rate increases. Prices are higher in the first five years, averaging $79 a megawatt-hour, then fall to $61 in the past five years, Mr. Davis said. The state also signed 11 short-term contracts last month to reduce purchases made in day-ahead markets to an average of $228 a megawatt-hour, down from $330. In 2000, the price that California's three biggest utilities paid for power averaged $120 a megawatt-hour, and reached a high of $1,500 on Dec. 12. The long-term contracts will supply about 75 percent of the power that utilities have been unable to purchase for their customers, Mr. Davis said. That's only about one quarter of California's consumption. "This is not a done deal. We have additional deals that are being put to bed," said Davis negotiator David Freeman, general manager of the Los Angeles Department of Water & Power. The state expects to purchase another 2,000 megawatts in contracts that are still being worked out, Mr. Freeman said. Still, some generators have been unwilling to supply the state power needed to avert blackouts this summer because of other contract obligations and high natural gas prices. Earlier yesterday, Duke said it tentatively agreed to sell about $4 billion in electricity to California from 2002 to 2010, which would guarantee power to the state after repeated shortages and emergencies this year. Calpine Corp. agreed last week to supply 1,500 megawatts of power to the DWR in 10-year and 20-year contracts valued at as much as $8.3 billion. Calpine and Duke refused to sell the state power this summer because the supplies already have been sold. "There are about 7,000 megawatts for this summer and deals are still in the works," Mr. Freeman said. LOAD-DATE: March 6, 2001 6 of 8 DOCUMENTS Copyright 2001 eMediaMillWorks, Inc. (f/k/a Federal Document Clearing House, Inc.) Congressional Press Releases March 5, 2001, Monday SECTION: PRESS RELEASE LENGTH: 293 words HEADLINE: PERSPECTIVES HEARING ON ENERGY ISSUES BYLINE: JOE BARTON , REPRESENTATIVE , HOUSE , BARTON RELEASES WITNESS LIST FOR TOMORROW'S CONGRESSIONAL BODY: FOR IMMEDIATE RELEASE: Monday, March 5, 2001 Barton Releases Witness List for Tomorrow's Congressional Perspectives Hearing on Energy Issues Washington (March 5) -- The Energy and Commerce Committee's Energy and Air Quality Subcommittee Chairman Joe Barton (R-TX) today released a tentative witness list for the subcommittee's hearing on Congressional perspectives on electricity markets in California and the West and national energy policy. The hearing will take place tomorrow, Tuesday, March 6, at 1:00 p.m. in room 2123 of the Rayburn House Office Building. Members on the first panel will discuss electricity markets, and Members on the second panel will testify on national energy policy. The following witnesses are tentatively scheduled to testify at Tuesday's hearing: Panel I - The Honorable Duncan Hunter (R-CA) - The Honorable Peter A. DeFazio (D-OR) - The Honorable Randy Cunningham (D-CA) - The Honorable Bob Filner (D-CA) - The Honorable George Radanovich (R-CA_ - The Honorable Jay Inslee (D-WA) - The Honorable Mary Bono (R-CA) - The Honorable Brad Sherman (D-CA) - The Honorable Susan A. Davis (D-CA) - The Honorable Michael M. Honda (D-CA) - The Honorable Darrell E. Issa (R-CA) - The Honorable C.L. "Butch" Otter (R-ID) - The Honorable Mike Thompson (D-CA) Panel II - The Honorable Tom DeLay (R-TX) - The Honorable J.C. Watts, Jr. (R-OK) - The Honorable Doug Bereuter (R-NE) - The Honorable Charles Stenholm (D-TX) - The Honorable Maurice D. Hinchey (D-NY) - The Honorable Lynn C. Woolsey (D-CA) - The Honorable Greg Ganske (R-IA) - The Honorable Robert B. Aderholt (R-AL) - The Honorable Jay Inslee (D-WA) - The Honorable Dennis J. Kucinich (D-OH) - The Honorable John Thune (R-SD) - The Honorable Shelly Moore Capito (R-WV) LOAD-DATE: March 6, 2001, Tuesday ENERGY UPDATE/Los Angeles Department of Water and Power Daily Energy Update for Tuesday, March 6, 2001 Business Wire 03/06/01, 3:23p (Copyright , 2001, Business Wire) LOS ANGELES--(BUSINESS WIRE)--March 6, 2001--Los Angeles Department of Water and Power Daily Energy Update for Tuesday, March 6, 2001: -- The Los Angeles Department of Water and Power (DWP) continues to provide power to our native load customers and surplus energy to California. Yesterday, DWP provided between 75 Megawatts (MW) and 125 MW for a three-hour period to the state through the California Energy Resource Scheduling unit. -- DWP forecasts a peak energy load today in Los Angeles of 3,500 MW. -- DWP has up to 100 MW of energy available today for sale. -- This energy will be available to California entities to assist them in meeting their normal and emergency energy needs. No power will be sold outside of the state during any DOE-certified or ISO staged emergency. -- DWP has 24 major thermal generating units at eight facilities. Today, fifteen units are operating including eight of ten base load units. Of the nine units not operating, three units have scheduled major maintenance activities underway; five units are undergoing minor maintenance; and the remaining unit is available for use, as the market requires. Hydro resources and pumped storage facilities can also be used to meet market demands. -- The rolling blackouts from power shortages that have occurred in other parts of California will not be felt by DWP customers. -- While electric rates have increased for some utilities in California, Los Angeles City residents continue to enjoy stable rates that have remained unchanged for nine years. DWP provides electricity and water to the city's 3.8 million residents. CONTACT: Los Angeles Department of Water and Power Darlene Battle, 213/367-1368
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