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Salomon Smith Barney (SSB) said Wednesday it would change the structure of its stock research department to match the changes agreed to this week by Merrill Lynch & Co. in a $100 million settlement with the State of New York (see Daily GPI, May 23). In a memorandum to the SSB staff, CEO Michael A. Carpenter said a research review committee would be formed to oversee analysts’ recommendations, and said SSB would separate “the evaluation and compensation of equity research analysts from investment banking.”

Kansas City, MO-based Aquila Inc. reported Wednesday that it posted a staggering second-quarter net income of $101.3 million ($1.05 per share), an increase of 367% over the prior year’s second-quarter net income of $21.7 million ($0.25 per share). The sizeable increase was led by the company’s wholesale services segment, which boasted an earnings before interest and taxes (EBIT) of $148.5 million, compared to the segment’s $25.3 million posted during the second quarter of 2000. Aquila said that first-half EPS and net income exceed full-year 2000 results.

If the Energy Information Administration (EIA) follows through on plans to expand the confidential treatment of data it receives from electric power plants, the move could stifle efforts to promote electric competition in the United States and hamstring state and federal regulators from effectively fulfilling their oversight responsibilities.

If the Energy Information Administration (EIA) follows through on plans to expand the confidential treatment of data it receives from electric power plants, the move could stifle efforts to promote electric competition in the United States and hamstring state and federal regulators from effectively fulfilling their oversight responsibilities.

An antitrust suit against Anadarko Petroleum Corp. and itsacquired subsidiary Union Pacific Resources (UPR) came to a closewithout a verdict less than one week after it had begun. Anadarkosettled out of court with American Central Gas Technologies Co.’s,a spokeswoman for Anadarko said. Terms of the agreement were notdisclosed.

Within hours of a FERC vote yesterday ratifying proposed changesin its interruptible transportation (IT) queue, PG&E GasTransmission Northwest announced new procedures effective today.

After the screen had registered a plunge of 42 cents-plus theday before, it failed to surprise cash traders when their numbersalso fell big-time Tuesday. However, prices were trending higher astrading proceeded, largely due to futures that opened lower butrecovered to finish the day nearly a nickel higher.

DPL Inc. announced it has sold its financial interest in MarketHub Partners (MHP) to a subsidiary of NiSource for $29 million incash. This sale follows DPL’s recent announcement of the sale ofits natural gas retail distribution business to Indiana Energy. MHPis a natural gas storage company headquartered in Houston. DPL wasrequired to separate its electric business units with the Julypassage of Ohio electric restructuring legislation. In so doing,the company said it was going to explore options for its gasbusinesses while focusing on electric generation. DPL said it hascontinued to expand its natural gas-fired generation business withthe addition of 475 MW through two plans called “Phases One” and”Two.” Two more phases, which have yet to be announced, willincrease that capacity by 320 MW. These expansions are occurring inboth Ohio and Indiana, DPL said, and will be immediately accretiveto earnings as these units come online starting in the summer of2000.

What are the chances that the U.S. would experience yet anotherwarmer-than-normal winter after just having two in a row?Apparently they’re pretty good right now, according to a new winterweather forecast released last week by the National Oceanic andAtmospheric Administration. One thing is certain: the La Ninatropical Pacific sea temperature event, which is expected toinfluence this winter’s weather, will throw a monkey wrench intoregional weather forecasting models.