Quickly

Add a few letters, along with a few major acquisitions, and”Dynegy” is quickly becoming “Dynamo” in the power generatingbusiness. Last week, the Houston company said it was buying twoupstate New York fossil fuel power plants for $903 million, adding1,700 MW of electricity to its portfolio, but more important,increasing its geographic impact on the generation marketnationwide.

Add a few letters, along with a few major acquisitions, and”Dynegy” is quickly becoming “Dynamo” in the power generatingbusiness. Yesterday, the Houston company said it was buying twoupstate New York fossil fuel power plants for $903 million, adding1,700 MW of electricity to its portfolio, but more important,increasing its geographic impact on the generation marketnationwide.

A funny thing happened on the way to the FERC: prospectiveshipper Duke Energy defected, but Dynegy quickly filled in the gapas the proposed new long-haul Independence and Supplylink pipelineprojects re-formed their ranks and marched toward this week’s openmeeting.

As the dot.com stocks begin to lose a “little bit of theirluster,” Wall Street investors quickly are setting their sights oncompanies that are involved in the development of fuel-celltechnology for the energy market, as well as the individualutilities that are “embracing” the new technology.

As the dot.com stocks begin to lose a “little bit of theirluster,” Wall Street investors quickly are setting their sights oncompanies that are involved in the production of fuel-celltechnology for the energy market, as well as the individualutilities that are “embracing” the new technology, a Wall Streetanalyst says.

Companion Pennsylvania gas deregulation bills for smallcommercial and residential customers appear to be quicklymaneuvering through the state legislative process. The Senateversion is expected to go for a floor vote this week. Meanwhile,the House held hearings on its version of the bill recently andsupporters said the results were positive.

Companion Pennsylvania gas deregulation bills for smallcommercial and residential customers appear to be quicklymaneuvering through the state legislative process. The Senateversion is expected to go for a floor vote next week. Meanwhile,the House held hearings on its version of the bill recently andsupporters said the results were positive.

“It was like a bad dream,” was one marketer’s summation ofWednesday’s 4-cent decline that was quickly recouped by yesterday’s4.1-cent advance. Another trader was a little more specific,attributing the downward blip to funds rolling positions from Mayto June. But regardless of the rationale, Wednesday’s lowersettle-the first one in the last seven sessions-looked like theGrand Canyon nestled among the Alps.

A run-up in citygate prices in the Northeast that had startedlate Wednesday afternoon was falling back rapidly by middayThursday, but not before some buyers had paid more than $3 intoTransco Zone 6-New York City. A trader reporting $3.00-$3.25 salesfor Zone 6-NYC said he had received a late offer of $2.65. TexasEastern M-3 numbers also were coming off hard, another source said.