Reorganizes

Dynegy on Thursday announced that it would reorganize its business structure to require Investor Relations to report directly to CEO Bruce A. Williamson. In conjunction with the news, Peter J. Wilt was named vice president of investor relations and Norelle V. Lundy as director of investor relations.

Despite recent earnings and regulatory setbacks focused on its energy trading operations, PG&E Corp.’s National Energy Group (NEG) has no intention of discontinuing its trading operations even with last Thursday’s announcement of cutbacks totaling $40 million annually in its merchant energy businesses. Trading is profitable and contributing to PG&E NEG’s positive cash flow, company officials indicated.

Commissioner Linda Breathitt announced that Jennifer Shepherd, a four-year veteran of FERC, has been named technical advisor of her staff.

Announcing that it wanted to enhance its utility operations “while maximizing the potential of its diversified businesses,” Peoples Energy Corp. said last Thursday it would reorganize its personnel management, as well as consolidate its support services into a new business services unit. Among the many changes, Tom Patrick, president and COO and a company director, added the title of vice chairman of the operating subsidiaries.

Announcing that it wanted to enhance its utility operations “while maximizing the potential of its diversified businesses,” Peoples Energy Corp. said Thursday it would reorganize its personnel management, as well as consolidate its support services into a new business services unit. Among the many changes, Tom Patrick, president and COO and a company director, added the title of vice chairman of the operating subsidiaries.

In an attempt to improve the company’s cash flow and earnings, Southern Union Co. said it intends to implement corporate reorganization and restructuring, a move it expects will save $35-40 million annually. As part of the restructuring, Southern Union said it is offering voluntary early retirement programs in some of its operating divisions and a limited reduction in workforce within its corporate division.

Houston-based independent KCS Energy Inc. is slowly emergingfrom bankruptcy, completing the necessary steps to reorganize,announcing it has signed a production agreement with Enron NorthAmerica Corp. to sell about 17.3% of its oil and gas reserves overthe next five years for $176 million. KCS held nearly 277 Bcfe ofreserves in 2000.

Edison Mission Energy, the global independent power productionsubsidiary of Rosemead, CA-based Edison International, is quietlyretrenching and reorganizing its worldwide presence in a move thathas resulted in 100 workers being laid off.

Edison Mission Energy, the global independent power productionsubsidiary of Rosemead, CA-based Edison International, is quietlyretrenching and reorganizing its worldwide presence in a move thathas resulted in 100 workers being laid off.