Kenneth

Enron Corp. said its board has accepted the resignation of Jeffrey K. Skilling, CEO and president. Kenneth L. Lay, currently chairman, will assume the additional responsibilities of president and resume his function as CEO. He has agreed to extend his employment agreement with the company through the end of 2005 to ensure a smooth transition. Skilling will continue to serve as a consultant to Enron and its board.

The City of Los Angeles Department of Water and Power (DWP) reported on Wednesday that Kenneth T. Lombard has been re-elected president of the Los Angeles Board of Water and Power Commissioners. He begins his fourth year on the commission and his second term as president.

Enron Chairman and CEO Kenneth L. Lay got in a few shots at theelectric industry in general, and the California marketspecifically, during a conference earlier this week that was calledto address spiraling winter gas prices.

Joseph W. Sutton has been promoted to vice chairman of Enron.Sutton will join Enron’s office of the chairman, which includesChairman and CEO Kenneth L. Lay and President and COO Jeffrey K.Skilling. Sutton, previously chairman and CEO of Enron’sinternational business unit, will help oversee the day-to-dayoperations of Enron’s business units.

In the view of Enron CEO Kenneth L. Lay, deregulation andtechnological advances will be a boon to consumers and also naturalgas. As completion creates greater incentives for boostingefficiency, particularly with regard to power regulation, naturalgas stands to benefit. Lay pointed out combined-cycle generation,especially that fired by natural gas, accounts for 60% of total newinstalled generation capacity in the United States since 1991.