Revises

Carefully combing through its financial records for last year, like so many other energy companies these days, Northern Border Partners LP found a discrepancy related to some gathering and processing hedges. The company said it will have to revise downward previously estimated results for the fourth quarter and full year 2001.

With its merger with Portland General Electric proceeding through state and federal approval processes, Northwest Natural announced Friday it has reduced previously announced fourth quarter earnings by $2.7 million, or 6 cents/share, due to a resolution of a 10-year-old lawsuit by one of its large commercial customers that went against the Portland, OR-based natural gas distribution utility.

PG&E Corp. and subsidiary Pacific Gas and Electric Co. on Thursday filed an amended plan of reorganization and a disclosure statement in U.S. Bankruptcy Court, according to the schedule established by the court. The plan contains no substantive changes and the companies will pay all valid claims in full without asking the state for a bailout or the court to raise rates, said PG&E.