Ownership

Industry Briefs

Constellation Energy Source, a subsidiary of ConstellationEnergy Group, signed an agreement to provide energy managementservices including construction, ownership and operation of acentral plant that will provide the Pittsburgh Steelers withheating, air conditioning and hot water for their new 65,000-seatstadium. Under the multi-year agreement, the company will beginconstruction on the plant immediately and expects to have theproject finished by the spring of 2001. The stadium is scheduledfor completion by August 2001.

September 21, 2000

Kansas Deal Balloons Midcoast Pipe Ownership 41%

Now turning its acquisitive eye to Kansas, Midcoast Energy Resources Inc. plans to acquire Kansas Pipeline Co. (KPC), MarGasCo Partnership (MarGasCo) and other related assets.

November 15, 1999

Midcoast Grows Pipeline Ownership 41%

Midcoast Energy Resources Inc. plans to acquire Kansas PipelineCo. (KPC), MarGasCo Partnership (MarGasCo) and other relatedentities. The $190 million deal includes the Kansas Pipelinesystem, which provides gas service to the Wichita and Kansas Citymetropolitan markets. The addition of the KPC system represents a41% increase in the total miles of pipeline owned by Midcoast.

November 9, 1999

El Paso Buys Into Enron’s NJ Power

Attempting to meet steep generation acquisition goals set by itsCEO for 1999, El Paso Energy recently bought a 49% ownershipinterest in East Coast Power, a subsidiary of Enron Corp. Terms ofthe deal were not disclosed. Enron still maintains control of thecompany with its 51% interest. El Paso said this deal is the firstdomestic power alliance between the two companies.

August 17, 1999

Illinova Continues Building Retail Operation

Illinova Energy Partners (IEP) purchased another niche retailmarketing operation last week to bolster its presence in keyderegulating markets. The company, which has added EMC GasTransmission in Michigan and Equitable Resource Marketing inIndiana during the last six months, purchased Tempe, AZ-basedQuality Energy Services (QES) to gain a foothold in thesoon-to-be-deregulated Arizona energy market.

April 12, 1999

Williams Buys Rest of Volunteer Energy

Williams Energy Services has acquired full ownership ofVolunteer Energy Corp., increasing its stake from 50%.

November 23, 1998

KN Energy Splits Stock Three For Two

In an effort to encourage retail stock ownership and improveshare liquidity, the KN Energy board of directors announcedWednesday shareholders of record at the close of business Dec. 15will receive a three-for-two stock split and a 7.1% increase inquarterly dividends. The stock will be distributed and the increasewill be paid concurrently on Dec. 31.

November 11, 1998

TransCanada Recapitalizing Gathering

TransCanada PipeLines created limited partnership TransCanadaGas Processing LP and is offering units to the public. TransCanadaholds various ownership interests in five gathering and processingfacilities and all related agreements in Alberta and Saskatchewan.With offering proceeds, the partnership will acquire an indirect75% interest in the facilities, while TransCanada will retain theremaining 25%. After 20 years, TransCanada will reacquire thefacilities at their fair market value for cash or shares ofTransCanada. “TransCanada will recapitalize these Canadian gasprocessing investments in a very efficient manner and investorswill receive attractive returns and tax treatment,” saidTransCanada CEO George Watson.

June 2, 1998

Cogentrix Energy Acquires Bechtel Power Interests

Independent Power Producer Cogentrix Energy has signed anagreement with Bechtel Enterprises Inc. to acquire Bechtel’sownership interests in 12 electric generating facilities, plus afractional share of Iroquois Pipeline. Most of the properties wereon the market as the result of PG&E Corp.’s acquisition lastfall of Bechtel’s interest in U.S. Generating Co. Regulatoryconstraints barred PG&E from acquiring certain of the USGenassets.

March 18, 1998
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