Grow

Expecting to grow its unregulated earnings up to 25% a yearbeginning in 2001, Constellation Energy Group will separate itsunregulated energy trading and generation group from its regulatedentities that include Baltimore Gas & Electric Co.

Boosted by the momentum gained through the 1980s and 1990s withgrowing regional wholesale electricity trading markets inCalifornia, New York, Pennsylvania, New Jersey, Maryland and theNew England states, more U.S. regions now are open to electricitycompetition, according to a report by the Energy InformationAdministration.

Cash prices were already headed downward Monday in the greatmajority of cases, but that’s nothing like the beating they’reexpected to take today after futures went into a free-fall, losingmore than 40 cents in the July contract.

Cash prices finally experienced some retrenchment Thursdayfollowing an awe-inspiring series of growth spurts during May, buta near-total collapse of the screen along with the usual dropoff inweekend demand is expected to result in significantly greaterdeclines today.

The cash market turned in another strong performance Tuesday,even with little in the way of either heating or cooling load forsupport.

Duke Energy reported earnings of $388 million for first quarter2000, up 28% from $302 million, excluding an extraordinary gain,for first quarter 1999. Revenues for the quarter increased 73% overthe prior-year quarter to $7.2 billion, due to strong performancein key business segments.

A panel of energy buyers at GasMart/Power 2000 agreed last weekoutsourcing energy management is still on the upswing as end usersstrive to avoid complexity and save money.

Enron Corp. announced an increase in net income of 34% to $338million during the first quarter. Earnings grew by 40 cents perdiluted share. The company also had a 72% increase in revenues to$13.1 billion for the first quarter. The results excludenon-recurring items.

A panel of energy buyers at GasMart/Power 2000 agreedoutsourcing energy management is still on the upswing as end usersstrive to avoid complexity and save money.