UtiliCorp United’s first quarter results are expected to be 15-17% higher than 2000, mostly because of the strong performance of its energy merchant business, Aquila Inc., and the contribution of its Alberta electric distribution network. UtiliCorp only acquired the Alberta assets last year, and expects to spin off Aquila as early as this week (see Daily GPI, Feb. 8, 2000; Dec. 14, 2000).
Results
Articles from Results
Enron’s Lay Highlights Results of Transition to E-commerce
The transition to an online business model has led to cost reductions, improved efficiency and tremendous growth for Enron, CEO Ken Lay said last week during a web-cast conference on e-commerce sponsored by Houston-based FlashFind Corp. and the Independent Natural Gas Association of America.
Enron’s Lay Highlights Results of Transition to E-commerce
The transition to an online business model has led to cost reductions, improved efficiency and tremendous growth for Enron, CEO Ken Lay said earlier this week during a web-cast conference on e-commerce sponsored by Houston-based FlashFind Corp. and the Independent Natural Gas Association of America.
CA’s Chief Power Negotiator Defends Results,Leery of Summer
California still faces a very uncertain electric supplysituation during peak-demand times this summer, and a massiveconservation effort about to be introduced by Gov. Gray Davis.Davis’ plan will impact all local government and businessesstatewide, and it may be the only way to avoid rolling blackouts,according to the state’s chief negotiator for long-term powercontracts.
Order 637 Shows Signs of Success
CapacityCenter.com —ÿa B2B e-commerce website — releasedresearch results yesterday that shows that the pipeline capacityrelease marketplace is responding positively to the price capremoval provisions of the Federal Energy Regulatory Commission’sOrder 637.
Calpine Reports Revenue, Earnings Increases
The continued successful implementation of its aggressive growthstrategy was reflected in the annual and quarterly financialresults of San Jose, CA-based Calpine Corp., which Tuesdayannounced triple-digit percentage increases in revenues, net incomeand earnings-per-share. Net income, before an extraordinary charge,was $324.7 million in 2000, compared to $96.2 million in 1999, a238% increase; revenues were $2.3 billion, compared to $847.7million in 1999, a 171% increase; and earnings-per-share were$1.11, compared to 43 cents/share in 1999, a 158% increase.
CA Reviews Auction Results; SDG&E Asks for Rate Relief
The cure and the illness in California’s electricity crisisshared the spotlight Wednesday as the state finished its whirlwind27-hour, sealed-bid power auction and the state’s third majorinvestor-owned utility appealed to state regulators for a five-yearsurcharge and a $100 million cash-conservation program to avoid thefinancial torpor of its two larger fellows private-sectorutilities.
GOM Drilling Up 58.2% in 2000
The 20% boost to exploration and production budgets this yearshould result in record results for offshore drilling, especiallythe Gulf of Mexico, according to drilling contractor Global MarineInc.’s annual Summary of Current Offshore Rig Economics — SCORE.In November and December 2000, GOM drilling increased 3.5%, andsoared 58.2% from a year ago. Worldwide, drilling was up 49.7% from1999.
GOM Drilling Up 58.2% in 2000
The 20% boost to exploration and production budgets this yearshould result in record results for offshore drilling, especiallythe Gulf of Mexico, according to drilling contractor Global MarineInc.’s annual Summary of Current Offshore Rig Economics — SCORE.In November and December 2000, GOM drilling increased 3.5%, andsoared 58.2% from a year ago. Worldwide, drilling was up 49.7% from1999.
CA Power Market Awaits Bailout
California power watchers were hoping for results early thisweek from the marathon government-industry negotiations. Theprincipals of last Tuesday night’s marathon session were expectedto meet by video-conference over the weekend to review solutionsdeveloped by staff working groups, which met through the end of theweek. (see Daily GPI, Jan. 11)