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Peoples Energy Buys mc2 Retail Portfolio

Peoples Energy Services has purchased the Midwest portfolio ofKN Energy subsidiary mc2 for an undisclosed sum. The transactionincludes 8,000 gas contracts, inventories and related receivables,increasing PE Services’ customer base to more than 20,000 Chicagoarea businesses, the largest of any supplier in the Chicago market,the company said.

August 28, 1998

With Merger Complete, Duke Posts 77% Earnings Increase

A 14% increase in electric sales and the absence of $70 millionin merger-related costs (posted in 2Q97) sent Duke Energy earningsper share soaring 77% during the second quarter to 76 cents/share,well above analysts’ estimates. Duke reported earnings for commonstock of $274.4 million compared to $157.6 million in 2Q97.

July 27, 1998

Koch, Royal Bank Form Global Energy Alliance

Koch Industries and the Royal Bank of Canada have formed astrategic alliance to jointly market energy-related trading andderivatives products to clients in North America andinternationally. The alliance is designed to provide the RoyalBank, which is one of the world’s top foreign exchange banks, with $30 billion/day in transactions, direct access to energy industryinformation and a broader array of energy derivative products, suchas weather derivatives. The deal gives Koch a connection to aworldwide collection of investment clientele. Royal Bank and itssubsidiaries serve 10 million clients through more than 1,500branches and offices located in 36 countries.

July 8, 1998

Dynegy Sells Haynesville Plant to Duke

Dynegy Inc. (formerly NGC Corp.) sold its Haynesville, LA, gasprocessing and fractionation facility and related gas and gasliquids pipeline systems to Duke Energy Field Services. The sale ofthe non-strategic asset continues the rationalization of certaingas processing plants acquired from Trident and Chevron, which hasresulted in greater operating efficiencies and lower costs, Dynegysaid.

June 12, 1998

Trading Orderly and Sedate as Bidweek Nears End

Other than the screen-related drop in prices Wednesday, it’sbeen a pretty slow and uneventful bidweek, a number of GPI sourcesagreed. Things had settled down Thursday and June gas was tradingin about the same area as it had following the futures expiryWednesday, a Midwest-based marketer noted. However, another sourcesaid Southwest and Southern California border prices continued tosoften a bit further Thursday.

May 29, 1998

Where’s the Expiration Related Nymex Volatility?

The June Nymex natural gas contract failed to show thevolatility normally associated with the final trading days of a gascontract by limiting itself to a narrow five cent trading range onTuesday. This tight trading band held June to a slight 0.1 centgain to $2.095.

May 27, 1998

Large Electrics May be Headed Toward Extinction

The majority of existing large electric-related companies willnot be intact a decade from now, says Roger Gale of WashingtonInternational Energy Group. In fact, he anticipates more than halfof the companies will disappear completely.

May 8, 1998

LG&E Offers Weather Risk Hedge

LG&E Energy Marketing (LEM), a subsidiary of LG&EEnergy, has introduced risk management products designed to manageweather-related risk.

March 13, 1998
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