UtiliCorp United reported a 75% jump in earnings per share for the third 
quarter led by strong results from its Aquila Energy subsidiary and an 
increased contribution from international businesses. "The energy merchant 
business continues to be strong," said CEO Richard C. Green. "Aquila's 
performance and the continued unleashing of value in our international 
businesses resulting from the initial contribution of our recent electric 
network acquisition in Canada and the successful initial public offering of 
our telecom business in Australia enabled us to exceed last year's third 
quarter results." 

Reliant Energy beat Wall Street estimates by several cents per share during 
the third quarter with a 37% increase in earnings to $389 million, or $1.36 
per share. Strong performance from the company's unregulated domestic 
wholesale generation operations and growth in its regulated electric customer 
base were the primary reasons for the earnings increase. "Our strong 
commercial management of generating assets and commercial gas and power 
positions in attractive regions of the U.S. has allowed us to break out of 
the traditional role of a local energy provider," said CEO Steve Letbetter. 
The wholesale energy unit reported a 642% increase in third-quarter operating 
income to $319 million compared to 3Q99. Gross margins increased by $372 
million. Reliant attributed the growth primarily to the expansion of 
commercial assets and trading in several regions, as well as higher energy 
sales and energy prices due to unique seasonal dynamics in the Western 
markets. Subsidiary HL&P's operating income jumped 13% to $500 mil
lion. Reliant's three gas distribution companies reported an operating loss 
of $15 million compared to an operating loss of $5 million for the same 
period of 1999.