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Attention POWER REPORT Readers: Go to
http://www.powermarketers.com/prdaily.htm to view today's edition with direct headline links to each story.] ====================================================================== The Industry's Preferred Source For Breaking Energy News And Information http://www.powermarketers.com ---------------------------------------------------------------------- T H E P O W E R M A R K E T E R S .C O M P O W E R R E P O R T Today's Headlines From POWERMARKETERS.COM Subscriptions to The PowerMarketers.com Power Report are free - you will never be charged. You may redistribute this e-mail without change. You may not redistribute stories. To register for a free subscription, point your browser to: http://www.retailenergy.com/pma/dprreg.htm ************************************************************************ ------Advertisement------ POWER CRUNCH IN THE WEST February 12-14, 2001 SAN DIEGO, CA http://www.pmaconference.com/crunch.pdf Are the newspapers getting the real behind-the-scenes story on the energy crisis in California? Do you need to get in-depth analyses from the players shaping headlines like these below, and a forecast of where things might go in the future? Attend Power Crunch in the West with Xenergy's Executive Forum: Restructuring the California Market and Infocast's Status & Outlook for Western Wholesale and Retail Markets scheduled for February 12-14, 2001 at the Holiday Inn on the Bay in San Diego, CA to get the insights surrounding the following headlines. Get a serious understanding of the latest developments in California and throughout the West that you just can't read about in the newspapers from the key people directly tackling these issues. Get up-to-the-minute briefings from: - Senator Deborah Bowen, Chairperson for the California State Senate Energy, Utilities, and Communications Committee - Loretta Lynch, President of the California Public Utilities Commission - William Keese, Chairman of the California Energy Commission - Stephen L. Baum, CEO of Sempra Energy Corporation - Curtis L. H,bert, FERC Commissioner As well as representatives from key market players including: - Utilities: Sempra Energy, PG & E, Southern California Edison, Arizona Public Service - Power Suppliers: Duke Energy, Reliant Energy, Calpine - User Groups: California Manufacturer's Association, TURN, UCAN - Market Operators: California Power Exchange, California ISO, Automated Power Exchange - Northwest Planning Council and more... EARLY BIRD SPECIAL: There is still time to take advantage of the Early Bird tuition of only $995 for the "Status & Outlook for Western Wholesale and Retail Markets" and $595 for the "Executive Forum: Restructuring the California Market". This Early Bird offer is available through Friday, January 19, 2001. For a full description of the program, download the brochure at: http://www.pmaconference.com/crunch.pdf ************************************************************************ --------------------T O P S T O R I E S-------------------- Top Stories (January 16) SOUTHERN CALIFORNIA EDISON SUSPENDS PAYMENTS ON NOTES DUE TUESDAY Southern California Edison, a subsidiary of Edison International (EIX), said it will be out of cash on Feb. 2 based on its current cash flow forecast, according to a Form 8-K filed Tuesday with the Securities and Exchange Commission. , Southern California Edison had cash reserves of about $1.2 billion, according to the filing. http://199.97.97.79/IMDS%PMADJN0%read%/home/content/users/imds/feeds/djn/2001/ 01/16/eng-djn/eng-djn_112025_250_696748960763 LONG-TERM CONTRACTS EMERGE AS POSSIBLE SOLUTION TO CALIFORNIA POWER CRISIS Long-term contracts have emerged as a consensus solution for California's broken energy market and as a way to return the state's two largest utilities to financial solvency. http://199.97.97.163/IMDS%PMAKRT0%read%/home/content/users/imds/feeds/knightri dder/2001/01/16/krtbn/0000-0238-OC-POWER-CRISIS TENNESSEE VALLEY AUTHORITY TRADES DEBT REDUCTION FOR RELIABILITY The Silicon Valley may be caught short of electricity, but the Tennessee Valley should have plenty of comparatively cheap power this year, TVA officials said Monday. http://199.97.97.163/IMDS%PMAKRT0%read%/home/content/users/imds/feeds/knightri dder/2001/01/16/krtbn/0000-0366-TN-ELECTRICITY ILLINOIS HOPES TO AVOID CALIFORNIA POWER WOES Electricity deregulation has become a dirty term in some circles, as California has plunged into a megawatt crisis that threatens that state's economy. http://199.97.97.163/IMDS%PMAKRT0%read%/home/content/users/imds/feeds/knightri dder/2001/01/16/krtbn/0000-0362-TB-POWER UTAH NATURAL GAS UTILITY GIANT HELPS LAWMAKER REVISE CONTROVERSIAL LAW When Utah lawmakers finally glimpse the promised revision of the controversial House Bill 320, Questar Corp.'s fingerprints once again will be all over it. http://199.97.97.163/IMDS%PMAKRT0%read%/home/content/users/imds/feeds/knightri dder/2001/01/16/krtbn/0000-0346-ST-UTILITY-LAW ---------------------------------------------------------------------- DOW JONES NEWSWIRES ---------------------------------------------------------------------- Access stories online at: http://199.97.97.79/IMDS|PMADJN0,PMADJN1,PMADJN2,PMADJN3,PMADJN4|index US Eastern Power Forwards Mixed In Thin Daily Trading Spain's BSCH/Venezuelan Telecom -3: Auction Continues Wed Edison International Sr Unsec Cut To C By S&P <EIX Calif Bill-2: 6-Yr Limit On Deals Sought;Passage Unclear PRESS RELEASE: SoCal Edison, Edison Intl Lowered: Fitch NB Power, Atomic Energy To Work Together On Point Lepreau Calif Bill To Authorize State Pwr Purchases At 5.5C/KWH Southern Calif Edison, Edison Intl Downgraded: Fitch Calif. Assembly/Energy -2: Considering Power Contracts PRESS RELEASE: S&P Cuts PG&E Corp Corporate Credit To CC PRESS RELEASE: SoCal Edison, Edison Intl Lowered: Moody's Venezuela Labor Min: No Reason Yet For Layoffs Freeze Edison Intl Sr Unsec Lowered To Caa3 By Moody's SoCal Edison Sr Unsec Lowered To Caa2 By Moody's Bank of Amer/4Q Call-2: Bad Loans Could Hit $3B In '01 Calif Pwr Suppliers Wait On Legislative Action Tues MBIA/So Cal Edison -2: Sees Liquidity Issues Resolved MBIA Direct Net Par Exposure To So Cal Ed $445M Dec 31 MBIA Direct Net Par Exposure To Pacific Gas $590M <MBI MBIA Didn't Insure Suspended Payments By So Cal Edison PRESS RELEASE: Utilities Grab Spotlight In 2001 - S&P Utilities Grab Spotlight In 2001, S&P Reports Bank Of Amer: Assuming Higher Consumer Losses Too <BAC Bank Of America Sees Modest Loan Growth In 2001 <BAC Bank Of Amer Sees 2001 Syndication Fees Flat With '00 N.H. Supreme Court/PSNH -2: Seen "Just And Reasonable" Utilities Sector Still Valuable, Prudential's Kiefer Says So. Calif. Edison Suspends Payments On Notes Due Tues So. Calif. Edison To Postpone Releasing 4Q Results <EIX Telecom Italia Entel Chile Leading In Venezuela WLL Bids Innogy/Eastern Lease -2: Deal Enables TXU To Buy Freehold Innogy To Book GBP250 Mln Exceptional Pft For Fin Year Innogy Restructures Eastern Lease Agreement With TXU EdF, EnbW Talks "Heading In Right Direction" -EU Official REPEAT: Taiwan To OK Pwr Projs Despite Nuclear Plant Rule Taiwan Power: Talks Started On Nuclear Plant Contracts FREE TRIAL: For a free trial of the Dow Jones Energy Service go to www.dowjonesnews.com, and click "create account," or call 1-800-223-2274. ---------------------------------------------------------------------- N A T I O N A L ---------------------------------------------------------------------- Access stories online at: http://www.powermarketers.com/pma-nat.htm California Energy Crisis Hits UCLA Community-(U. California-Los Angeles) Clayton Williams Energy Announces South Louisiana Results Ryan: Suspending Natural Gas Tax 'Not the Answer' Idacorp Sells Solar Company to Schott Corporation Top Energy Summaries - Tuesday, January 16, 2001 - 5:29 PM DOE Offers Efficiency Strategies to Soothe Western Energy Woes Energy Crisis Affects Snake River Dam Proposal Mexican Senate Seeks Right to Establish Natural Gas Price Cemex Energy Program Saves Company from Natural Gas Hikes Les Echos: Schneider And Legrand Merge in Order to Create A World-Leader on The Market for Low-Tension Electrical Equipment(Schneider ET Legrand Fusionnent Pour Creer Le Numero UN Mondial De LA Basse Tension) Power Plant Construction Starts on Georgian Black Sea Coast. Rewrite for Utility Bill? Or Repeal? Energy Letter Erred Western Power Woes Dim National Future of Deregulation Massey Energy Company Announces Annual Shareholders Meeting And Quarterly Dividend S&P Lowers Pacific Gas & Electric Rating to 'Cc' Teledyne Technologies Ships Its First Pem Fuel Cell Stacks Calif. ISO Says Not Enough Power for Peak Demand This Evening Fuel Cell Technologies Readies for Manufacturing And Production Record Generation, License Renewal Top List of Successes; Calvert Cliffs Nuclear Power Plant Wraps Up Banner Year Fuel Costs Putting the Pinch on Farmers Again -- Nitrogen Fertilizer in Short Supply Due to Natural Gas Costs State Panel to Explore Utility Tree-Trim Squabbles Williams Bio-Energy Forms Alliance with Three Companies to Market Ethanol Navitas Energy, Xcel Energy Sign Unique 650 Megawatt Power Deal Repeats: Energy Volume And Open Interest Totals-Jan 16 California energy crisis deepens as utility defaults Winners And Losers in California Utility Crisis Top Energy Summaries - Tuesday, January 16, 2001 - 2:18 PM Schneider Electric long term 'A2' senior debt rating confirmed by Moody's Duke Energy's Market Hub Partners Announces Expansion of Natural Gas Storage Facility in Louisiana Pfc Energy 50 Firms Outpace the Market; Develop New Business Models for Success Experts Note Breakthroughs to Fuel Cell Commercialization U.S. govt bonds up midday in New York on utility bond defaults, Imperial Sugar Utility Bills Soaring Across Nation Focus May Be on California, But Many States See Troubles Energy Secretary to Visit Boise Monday He Plans to Discuss Alternatives to Storing Radioactive Waste Facts About PSE and Energy Chesapeake Energy Corporation Completes Acquisition of Gothic Energy Corporation National Mining Association Releases Coal Industry Forecast; Record Levels Seen for U.S. Coal Consumption Energy Update/Los Angeles Department of Water And Power Daily Energy Update for Tuesday, Jan. 16, 2001 /C O R R E C T I O N -- Consol Energy Inc./in Phm006, Organization Profile: Consol Energy Inc. (NYSE: Cnx), Moved Yesterday, Jan. 15, We Are Advised by The Company That The Media Contact Should Read "Thomas F. Hoffman of Consol Energy, 412-831-4060" Rather Than "Joyce Stewart of Consol Energy, 412-8 Delaney Energy Announces Director Appointment Stage Three Electrical Emergency Declared; Rotating Blackouts Not Required at This Time; Teleconference at 10:30 A.M. Consol Energy Forms Land Company Subsidiary; Cnx Land Resources Will Develop Company's Property Top Energy Summaries - Tuesday, January 16, 2001 - 11:54 Am American Energy Services Signs Representation Agreement with Green Oasis Environmental South Jersey Industries Inks Landmark Agreement with Borgata for Energy Services Power's Flat-Rate Era Fades: Peak-demand Power May Cost PSE Customers More Competitive Energy Markets Fuel Growth; Energy Services Group Currently in Production with Over Sixty Trading Partners Power Company Threatens Lawsuit Against Calif. Providers So. Calif. Edison Suspends Notes, Power Exchange Payments Top Energy Summaries - Tuesday, January 16, 2001 - 9:17 Am Petroquest Energy Announces Year-End Production Exit Rate And Operations Update Peregrine Systems(R) Selected by Texaco to Power E-Commerce Initiatives As Application Service ProviderPeregrine's Asp Offering to Streamline Electronic Purchasing, Drive Improved Resource Allocation for Global Energy Giant Only 54% of Californians Feel That There Is An Energy Crisis Intergraph's Geospatial Resource Management Solution Extends Mobile Operations at Florida Power Corporation; 225 Inservice Mobile Data Seats Roll Out for Outage Management Apf Energy Trust Files Prospectus for New Issue Insite Services And Aep Sign Contract for Outsourced Billing Services in Deregulated Energy Markets Top Energy Summaries - Tuesday, January 16, 2001 - 7:35 Am Davis to Seek State Role in Energy Pricing / Another Stage 2 Alert Declared This Morning Plant Power Costs Cut by New Motor Controller ---------------------------------------------------------------------- I N T E R N A T I O N A L ---------------------------------------------------------------------- Access stories online at: http://www.powermarketers.com/pma-intr.htm Simon Fraser U. Switches to Diesel Fuel to Cut Soaring Energy Costs-(Simon Fraser U.) Westcoast Energy sells all Natural Gas Exchange shares to OM Gruppen Greentech Energy Systems Invests in Wind Energy in Greece Japan's Power Demand Scores Record High on Monday Evening Competition Seeps Into Japanese Energy Sector Asahi Chemical to Begin Power Wholesale in Spring Development-China: Solar Power Lights Up Mountainous Areas Hydro Dam Very Unlikely Petrobras Awards Fmc Energy Systems Contract for 13 Deepwater Subsea Systems Pace International Union Says Government Approval of Enriched Uranium Imports from Russia Will Jeopardize The Sole Remaining Uranium Enrichment Plant in The U.S.Will Lead to Dangerous Dependence on Foreign Energy Supplies by 2003 And Contradict Congressional Intent Westcoast Energy Inc. Sells Remaining Interest in Ngx to Om Group Wellspring Solutions Inc. And Kse Announce Completion of Next Generation Automated Feed Processing Facility; Strategic Alliance Doubles Production Capacity for Feed Producer DaimlerChrysler, Ballard deny report of Mitsubishi Motors fuel cell deal Agreement Signed on Investment in Upgrade Yunnan Power Huge Coal Mine Put Into Operation Trinity Energy to invest 400 million dollars in Uzbekistan Babcock Borsig wins 409-mln-euro power plant contract in Abu Dhabi Nuclear Power Plant Firm Says New Plants Ok for Environment China plans radical shakeup of coal industry Adb Procurement - Pakistan, Power Singapore Considers 2nd Natural Gas Import Pjt from Indonesia Cold Weather Puts Strain on S Korea's Heating Energy Supply ---------------------------------------------------------------------- KRT DAILY ENERGY NEWS ---------------------------------------------------------------------- Access stories online at http://www.powermarketers.com/pma-krt.htm Tennessee Valley Authority Trades Debt Reduction for Reliability Illinois Hopes to Avoid California Power Woes Utah Natural Gas Utility Giant Helps Lawmaker Revise Controversial Law Municipal Utilities Allow Lodi, Calif., Other Cities to See Lower Power Costs California Governor Promises Statewide Power Consumption Cutback Experts Say Oregon Semiconductor Industry Could Reduce Power Consumption Bush Administration May Scrutinize Role of Portland, Ore., Hydropower Agency Portland, Ore.-Based Utility to Buy, Sell Wind Farm Electricity Orlando, Fla.-Area Power Bills Increase As Much As 100 Percent Utah Utility Announces Details of Rate Increase Request Long-Term Contracts Emerge As Possible Solution to California Power Crisis California Leaders Pledge Legislation to Buy Electricity Immediately California Averts Blackouts Through Conservation, Power Transfers California Considers Forming Public Power Authority Txu Chief Offers Optimistic Outlook on Texas Electricity Deregulation Illinois Natural Gas Costs to Continue Rising Onslaught of Calls Continues at Amarillo, Texas-Area Gas Company Edgewood, N.M.-Area Residents Cope with Rising Propane Costs Akron Beacon Journal, Ohio, Diane Evans Column Augusta, GA., Firm to Cut Production, Workers Due to Natural Gas Shortage Redfield, S.D., School District Faces 100-Percent Increase in Natural-Gas Bill San Jose Mercury News, Calif., James J. Mitchell Column Consumers Fail to Make Efforts to Conserve Energy Sister Company of California Utility Reassures Its Rhode Island Employees Pittsburgh-Area Businesses, Families Cope with Higher Natural Gas Prices The Modesto Bee, Calif., Consumer Focus Column California Power Crisis Raises Concern for New Jersey Deregulation The Record, Hackensack, N.J., Your Money's Worth Column Rosemead, Calif., Utility Firm Halts Contribution to Business Gathering San Bernardino County, Calif., Water District May Tap Aquifer ---------------------------------------------------------------------- REUTERS ---------------------------------------------------------------------- Access stories online at: http://207.32.82.57/news/ElectricPower.html PS New Hampshire sees March debt sale, April rate cut Germany may appoint gas, power regulator-minister WRAPUP 2-Citigroup's profits rise, Bank of America's slide UPDATE 2-California woes weigh on utilities UPDATE 5-Edison misses payments, Calif utility ratings cut UPDATE 4-Edison misses payments, Calif utility ratings cut S&P to issue statement on SoCal Edison Tuesday Cal utility crisis to impact other utilities--S&P UPDATE 1-Calif. ISO sees power emergency easing Tues. WRAPUP 2-California on power alert, utility woes mount Canada natgas spot prices flat; terms down with U.S. UPDATE 1-EU to draft law on power trade tariffs San Diego Gas & Electric cuts natgas to power plants UPDATE 1-Nigeria suspends airport officials over power cut Toronto stocks lower at midday, awaiting earnings Japan Hot Stocks-Toyota, Ryohin Keikaku Innogy, TXU agree early end to power station lease MBIA, Ambac have no exposure to SoCal Edison notes Wall Street unsure if it's time to buy hammered utilities United Utilities buys stake in Estonian firm S&P cuts SoCal Edison and parent to low junk status Moody's cuts SoCal Edison, Edison Int'l to junk Germany may appoint gas, power regulator-minister Turkey unveils treasury-guaranteed energy projects UK's fast Internet plans suffer fresh setbacks Fitch reviewing SoCal Edison default UPDATE 3-Salvadorans bury quake victims, death toll to 666 White House says up to Calif to solve power crisis EU law needed on Europe power trade rules-Palacio German govt, industry at odds over ``dirty power'' Dynegy says may push Calif. utilities into bankruptcy Taiwan nuclear row might explode despite ruling SoCal Edison in default, delays $596 mln payments FirstEnergy earnings up 4 pct on power sales Salvador quake homeless crowd refugee centers PG&E says credit downgrades will hurt gas purchases UPDATE 1-White House says up to Calif to solve power crisis INTERVIEW-Moody's cuts SoCal Ed to junk,may see others Moody's affirms Schneider, ups Legrand ratings Argentina's Buenos Aires province in water brawl ANALYSIS-Market forces on trial in US power, UK rail crises ********************************************************* NEW on the POWERMARKETERS.COM TRAINING PAGE ********************************************************* Access all online presentations at: http://www.pmaconference.com New! Now you can choose to stream the presentation immediately over the web, or download it to your computer for later viewing-- Free! New! Five additional RealVideo-based powerpoint-based presentations, with the accompanying audio. Running about 30 minutes each, the new selections include: ELECTRONIC TRADING. Power is following natural gas to become an electronically-traded commodity. The products, the technology and the future of electricity transactions. Kevin Sluder, Vice President, HoustonStreet Exchange. NUTS AND BOLTS OF RETAILING. What it takes to put an energy retailing operation together-- the cash and credit requirements, back office, information technology, staffing, marketing, sales and organizational considerations. Andrew Serri, Vice President, AmerenEnergy Marketing. RETAIL: WHAT WENT WRONG, HOW TO FIX IT. Retail electric deregulation has thus far been an underwhelming success, but a great deal has been learned, and it is eminently fixable. By Dr. John O'Brien, Principal, Skipping Stone MANAGING BILLING. The complex requirements for managing billing and commodities in the deregulating energy industry cannot be met with current CIS and CRM technology. Energy Retailers must embrace the next evolution of energy customer management (ECM) solutions. Paul Grey, Chief Technology Officer, Peace Software. THE INTERNET AND THE VELOCITY FACTOR. Greater price transparency, faster execution, reduced transaction costs, increased number and frequency of transactions and increased specialization are just some of the changes to energy markets wrought by the web, and it's just beginning. Implecations of the internet for energy markets. E. Russell "Rusty" Braziel, Chairman and Director, Altra Energy Technologies. Access all online presentations at: http://www.pmaconference.com **************************************** THE PowerMarketers.com ENERGYYELLOWPAGES **************************************** http://www.energyyellowpages.net Where to go when you're looking for: Billing Systems, Brokers, Call Centers, Coal Marketers, Computers & Networks, Conference Houses, Energy Management, Engineering Services, Environmental Services, Exchanges & Clearing Houses, Executive Search Services, Financial Services, Gas Marketers, Information Services, Internet Services, Legal Services, Management Consulting , Marketing, Meters, Power Marketers, Powerplant Development, Powerplant Equipment, Risk Management, Sales, Software, Trade Associations, Training, Weather Services and more! 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PMA ONLINE MAGAZINE: Access online at: http://www.retailenergy.com/pmamag.htm News releases may be submitted to The PowerMarketers.com Power Report via e-mail to news@powermarketers.com Copyright 2000 by PowerMarketers.com: http://www.powermarketers.com/ The PowerMarketers.com Power Report is a complimentary service of The Power Marketing Association. Headlines are copyrighted by their respective services: Reuters, Knight-Ridder, and others. Subscriptions to the PowerMarketers.com Power Report are free - you will never be charged. You may redistribute this e-mail without change. You may not redistribute stories. To register for a free subscription, point your browser to: http://www.retailenergy.com/pma/dprreg.htm TO UNSUBSCRIBE OR CHANGE your subscription, (1) point your browser to "The PMA OnLine Power Report" subscription services form at http://www.retailenergy.com/pma/dprreg.htm OR (2) , send a message to pma@powermarketers.com. 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