KeySpan Energy announced that its earnings are significantlyahead of analysts’ estimates for the first quarter and could be upto 7% higher for calendar year 2000. The First Call averageestimate is currently $1.87 per share for the year 2000, thecompany said. The boost has been caused by many factors Keyspansaid including: Strong growth in our gas market, resulting from anaggressive market strategy in the Company’s new Long Island market;Electric demand and gas demand hit record levels in January, givingKeySpan highest winter send-out days in both electricity and gas;and the benefit of substantial reductions in O&M expenses,amounting to $110 million. In merger-related news, KeySpan saidthat the merger with Eastern Enterprises, which was announced lastyear, is proceeding on schedule and is expected to be completed bythe Fall.

PECO Energy Co. of Philadelphia, PA, submitted a joint petitionfor settlement to the Pennsylvania Public Utility Commission forits proposed merger with Unicom Inc. The settlement involves nearlytwo dozen parties. It includes rate reductions and extended ratecaps, electric reliability and customer service standards,mechanisms to enhance competition and customer choice, nuclearsafety research funds and customer protection against nuclear costsoutside of Pennsylvania. Ken Lawrence, PECO Energy Distributionpresident, said the settlement agreement balances the interests ofall parties, contains major customer benefits, avoids extended,costly litigation and is consistent with PUC policies promotingnegotiated settlements.

The Edison Electric Institute’s Alliance of Energy Suppliers andthe National Energy Marketers Association (NEM) recently introducedenergy and financial professionals in the Southwest to the newStandardized Master Power Contract for the nation’s wholesaleelectricity market. The Master Contract will help to increase theliquidity of the nation’s wholesale power markets by eliminatingthe array of power contracts and tariffs now being used around thecountry. The next workshop on the Contract will be held in New YorkApril 25. The contract is available on EEI’s Web site atwww.eei.org/alliance/new.html

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