Giant

To aid in the ongoing investigation into the financial collapse of energy giant Enron Corp., Reps. Billy Tauzin (R-LA) and James Greenwood (R-PA) have asked Securities and Exchange Commission (SEC) Chairman Harvey Pitt to provide the House Energy and Commerce Committee with all of the reviews and records associated with Enron’s accounting practices and filings since 1997. Tauzin is chairman of the committee and Greenwood is chairman of the subcommittee on Oversight and Investigations.

Exposure to possible losses due to energy giant Enron’s financial failure continued to spread like a worldwide epidemic last week with companies and financial institutions around the world reporting potential losses, reflecting the broad reach both of the company’s business and its stock.

In the wake of the financial meltdown and bankruptcy of energy giant Enron Corp., Rep. Henry Waxman (D-CA) has stepped up his call for Vice President Dick Cheney to disclose “secret contacts” that a White House task force had with Enron, a “major Republican contributor,” while drafting the national energy policy. He further says Enron’s failure is taking its toll on top Bush administration officials, several of whom have large holdings of the company’s stock.

Energy marketer and trading giant Dynegy Inc., based in Houston, last week said it will meet or exceed Wall Street’s consensus estimates for the year of $2.07 recurring earnings per share. Dynegy management also reaffirmed its commitment to meet its 2002 estimates of $2.50-$2.60 per share, bucking the trend of several other energy companies in recent weeks that have adjusted their forecasts because of economic pressure.

Energy marketer and trading giant Dynegy Inc., based in Houston, said Monday it will meet or exceed Wall Street’s consensus estimates for the year of $2.07 recurring earnings per share. Dynegy management also reaffirmed its commitment to meet its 2002 estimates of $2.50-$2.60 per share, bucking the trend of several other energy companies in recent weeks that have adjusted their forecasts because of economic pressure.

Williams, which wooed away gas-rich Denver-based independent Barrett Resources Corp. from oil giant Shell Corp. earlier this year (see Daily GPI, May 8), completed the marriage Thursday when Barrett shareholders approved the merger in a special meeting in Denver. In less than a week, Williams will begin distributing the materials necessary for Barrett shareholders to exchange their shares for Williams shares.

Nature’s severe downturn in the amounts of hydroelectricity in the western region over the past 12 months has been a giant wake-up call for natural gas as new gas-fired power plants are spurring an unprecedented rush to build added interstate pipeline transmission into Washington and Oregon.

Nature’s severe downturn in the amounts of hydroelectricity in the western region over the past 12 months has been a giant wake-up call for natural gas as new gas-fired power plants are spurring an unprecedented rush to build added interstate pipeline transmission into Washington and Oregon.

Southern Energy Inc. took a giant leap into the Mid-Atlanticpower market yesterday by completing the purchase of 5,154 MW ofpower generation from Potomac Electric Power Company (Pepco) for anet price of $2.65 billion.