Announcing

PG&E’s organizational shuffling is not over yet. A weekafter announcing plans to sell its entire energy services divisionand a month after selling its unprofitable Texas gas transmissionassets to El Paso, PG&E Corp. has told all of its Houston-basedgas traders to pack their bags and prepare for a move to Bethesda,MD.

Panda Energy Intl. Inc. paved the way for its entrance into theFlorida generation market last week by announcing that petitionsfor determination of need have been filed with the Florida PublicService Commission to build two 1,000 MW power plants. Both plantswill cost $300 million and are expected to begin commercialoperation in May of 2003.

PG&E’s organizational shuffling is not over yet. A weekafter announcing plans to sell its entire energy services divisionand a month after selling its unprofitable Texas gas transmissionassets to El Paso, PG&E Corp. has told all of its Houston-basedgas traders to pack their bags and prepare for a move to Bethesda,MD.

Panda Energy Intl. Inc. paved the way for its entrance into theFlorida generation market yesterday by announcing that petitionsfor determination of need have been filed with the Florida PublicService Commission to build two 1,000 MW power plants. Both plantswill cost $300 million and are expected to begin commercialoperation in May of 2003.

Calpine Corp. continued its torrid growth last week byannouncing intentions to build two new power plants in theSoutheast. The 1,500 MW of production generated by the newlyproposed plants is expected to be available in 2003. Calpine saidit expects to invest $805 million for the two plants.

If El Paso continues on its current path, there may be nopipelines left to buy. After announcing an agreement to merge withCoastal Corp. only a week earlier, the Houston-based energy giantannounced two more major purchases last week.

In announcing a $4 billion deal with Duke Energy North Americato provide power generation supplies and related services, GE PowerSystems said it has entered into one of the largest commitments ofits type in U.S. history.

Fresh off its purchase of Sonat Inc., El Paso Energy Corp.re-entered the consolidation game by announcing plans to merge withCoastal Corp. in a $16 billion deal. The potential union wouldcreate a pipeline empire capable of serving almost all of the majormarkets in the country. The companies expect the transaction,accounted for as a pooling of interests, to be completed by thefourth quarter of this year.

Conoco continued an arrangement first forged in 1981 by announcing a definitive agreement yesterday to manage DuPont’s gas supply needs. DuPont is one of the largest U.S. industrial gas consumers and Conoco’s largest supply customer. Neither the financial terms nor energy volumes were disclosed.