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																Enerfax Daily 
																
																
																
																
																
																
																																				
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																							Enerfax  Daily? -? Page  ? -? November 21,  2000 
																							
																							
																							
																							
																							
																																				
																																				
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																														Enerfax  Daily? -?  Page 4? -?  November 21, 2000 -? ?  Past  Issues 
Available on Sagewave
																														
																														
																														
																														
																														
																																				
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																									Governments Negotiate Differences in The  Hague
																									
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																									After a week  of preliminary talks that failed to resolve differences over 
how  best to protect the planet, government leaders have arrived to  bargain 
over the toughest aspects of curbing emissions. About 2,000  lower level 
officials did what they could to prepare for the final  week of negotiations 
among environment ministers or cabinet-rank  officers from at least 150 
countries. The US feels its effort to  find common ground and be flexible has 
not been returned by?  European counterparts. The US has been singled out for 
criticism for  its effort to reduce its commitments. The government 
essentially  agreed to Kyoto because they agreed to the flexibility 
mechanisms  such as emissions trading, now the US is running into trouble 
with  that. If the conference ends in agreement, any treaty enforcing a  new 
global code of behavior on emissions will require ratification  by most of 
the industrial countries. Without a US endorsement, it  would be difficult 
for such a treaty to come into force. The US  Senate already has passed a 
resolution making its ratification  conditional on assurances that the 
nation's competitiveness on world  markets will not be harmed. A select group 
of leading policy makers  held informal closed-door talks in The Hague ahead 
of a ceremony  Monday marking the start of the critical second phase of the  
conference. The politicians are working toward a comprehensive plan  to 
reduce the Earth's output of heat-trapping gasses from  businesses, farms and 
automobiles, without bloating national budgets  or hampering the global 
economy. A board of 2,000 leading  scientists, the Intergovernmental Panel on 
Climate Change, projects  that in the coming 100 years there will be more 
rainfall, a  temperature increase of up to 11 degrees Fahrenheit and a 
sea-level  rise of up to 30 inches. An agreement reached in 1997 in Kyoto,  
Japan, called for a worldwide reduction of carbon-based gas  emissions by an 
average 5.2% below 1990 levels. The target date for  the reductions was 2012. 
Europe is committed to cutting emissions  8%, Japan 6% and the US 7%. 
																									
																									
																									
																									
																									
																									
																																				
																																				
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																																			Enerfax  Daily? -?  Page 7? -?  November 21, 2000
																																			
																																			
																																			
																																			
																																			
																																				
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																																		Enerfax  Daily? -?  Page 8? -?  November 21, 2000 
																																		
																																		
																																		
																																		
																																		
																																				
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																										(Continued from Page 6)
																										
																										
																										and could put  the future of the Midwest ISO in peril. However, FERC has 
never  articulated clearly a requirement that a party exercising a  
contractual termination right must demonstrate that termination is  
consistent with the public interest, according to Dynegy. It also  argued 
that it has not refused to participate in an RTO; it merely  seeks to join 
one that adequately protects its legitimate financial  interests and also 
represents a significant improvement to the  status quo for other market 
participants. Dynegy urged FERC to limit  its decision on whether or not the 
company can leave the ISO to the  facts, not on the uproar Dynegy's actions 
have caused in the  Midwest. Regulators in Illinois and Michigan have 
protested Illinois  Power's 
																										
																										
																										
																										
																										
																																				
																																				
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																													Financial Summary
																													
																													
																													
																													
																													
																																				
																																				
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																						")} TC 														
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