Received

Illinois Power Co. received unanimous approval yesterday fromthe Illinois Commerce Commission to transfer all its fossil-fueledgenerating stations and associated support staff into a newsubsidiary of parent company Illinova Corp. The move still requiresFERC approval. If completed it would be the first time an electricutility was allowed to transfer its entire fossil generating fleetinto a separate unregulated affiliated company, Illinova said. Thespin-down was one of the requirements set out in a merger agreementsigned last month by Illinova and Dynegy. That merger is expectedto be completed early next year.

Oneok’s proposed merger with Southwest Gas received a big shot in the arm last week, as the Nevada Public Utilities Commission (PUCN) unanimously approved the deal two months ahead of schedule. Although approval is still needed from Arizona and California regulators as well as Southwest Gas shareholders, both companies are confident the merger will be completed in the previously announced fourth quarter 1999 timeframe.

Oneok’s proposed merger with Southwest Gas received a big shotin the arm yesterday, as the Nevada Public Utilities Commission(PUCN) unanimously approved the deal two months ahead of schedule.Although approval is still needed from Arizona and Californiaregulators as well as Southwest Gas shareholders, both companiesare confident the merger will be completed in the previouslyannounced fourth quarter 1999 timeframe.

Southwest Gas of Las Vegas and Oneok Inc. of Tulsa, OK, received the blessing of Nevada’s Consumer Advocate and a Nevada state legislator for their proposed merger.

Southwest Gas of Las Vegas and Oneok Inc. of Tulsa, OK receivedthe blessing of Nevada’s Consumer Advocate and a Nevada statelegislator for their proposed merger.

LG&E Energy Corp. utility subsidiaries Louisville Gas andElectric and Kentucky Utilities received orders from the KentuckyPublic Service Commission (PSC) implementing performance-basedratemaking (PBR) effective July 2.

All-around price increases Wednesday received support fromcontrasting weather conditions and rising power generation load(plus a tiny assist from a barely higher screen). Most upticks werein the neighborhood of 4-8 cents, although smaller ones were aslittle as two cents at the PG&E citygate.

Commonwealth Edison (ComEd) parent Unicom received about $1.76billion over book value last week in the largest divestiture yet ofa utility’s fossil-fueled power plants. Edison International’sindependent power subsidiary is buying 9,772 MW of ComEd’s coal-and gas-fired baseload and peaking plants for $5 billion.

Enron Corp. made an SC13D filing with the Securities andExchange Commission on Tuesday to inform the commission it hasreceived an unsolicited offer for its 53.5% share of Enron Oil andGas, one of the largest independent gas producers in the U.S.According to the solicitation, the unnamed third party wouldacquire Enron’s shares in EOG and make an offer for all theoutstanding shares. The third party also would require that Enrondispose of certain other assets.