Divisions

LG&E Energy said it plans to reduce its 5,500-employeeworkforce by 250 positions (5%) over the next few months in aneffort to streamline and further integrate its two utilityoperations, Louisville Gas and Electric and Kentucky Utilities.Enhanced early retirement and severance programs will be offered tocompany employees to achieve the reduction. The company hopes toachieve these reductions through voluntary means and will useinvoluntary separation only as a last resort.

LG&E Energy said yesterday it plans to reduce its5,500-employee workforce by 250 positions (5%) over the next fewmonths in an effort to streamline and further integrate its twoutility operations, Louisville Gas and Electric and KentuckyUtilities. Enhanced early retirement and severance programs will beoffered to company employees to achieve the reduction. The companyhopes to achieve these reductions through voluntary means and willuse involuntary separation only as a last resort.

With its stock price depressed since accounting irregularitiescame to light in one of its divisions, Baker Hughes Inc. and two ofits senior officers now have been named in securities fraudlawsuits filed last week in U.S. District Court for the SouthernDistrict of Texas. Suits were filed on behalf of investors whobought Baker Hughes common stock May 3 through Dec. 8.

Dallas-based Texas Utilities Co. is changing its name to TXU,which is also the company’s stock symbol. The action bringstogether divisions and subsidiaries, domestic and international,under one name. TU Electric/Lone Star Gas, the company’s largestdomestic operation, will be renamed TXU Electric & Gas.

Avista Corp. affiliate Avista Power and STEAG AG, Germany’slargest independent power producer agreed to form a joint ventureto develop, build and/or buy electric generation assets throughoutNorth America. Initial regions of interest include the Northwest,the Southwest and the Southeast. Projects of interest include thosepowered by natural gas, coal and hydro.

Dynegy Inc. said yesterday it is combining its power generationoperations with its trading and marketing organization to “furtherdefine and capture opportunities presented by the convergence ofthe gas and power industries.” The new organization will operateunder the name Dynegy Marketing and Trade. Steve Bergstrom willserve as president and chief operating officer.

Candidates to head up three main divisions of the Federal EnergyRegulatory Commission being created in the on-going FERC Firstrestructuring should have their applications in to the Commissionby Sept. 24, according to a government job notice being circulatednationwide. A salary between $106,412 and $125,900 comes with thedirectors’ positions for the Office of Markets, Tariffs and Rates,the Office of Strategy and Organization Management, and the Officeof Administrative Litigation.