chris.germany@enron.com, To unsubscribe send a blank mailto:leave-enerfaxtext-14817067X@relay.netatlantic.com


Enerfax Daily
NORTH AMERICA'S FREE POWER AND GAS INFORMATION SOURCE 
              Monday, June 24 2002 No. 1015
http://www.enerfax.com/


PHYSICAL NATURAL GAS PRICES   
Gulf/Eastern Region        
| Agua Dulce                 | 3.05  |
| ANR SE                     | 3.11  |
| Carthage (E.Tex)           | 3.10  |
| Chicago Citygate           | 3.16  |
| Columbia Gulf Onshore      | 3.15  |
| Dominion South Point       | 3.39  |
| Henry Hub                  | 3.17  |
| Houston Ship Channel       | 3.17  |
| Katy /Exxon                | 3.14  |
| NGPL LA Pool               | 3.11  |
| NGPL - Midcontinent        | 2.89  |
| NGPL STX                   | 3.07  |
| NGPL TX/OK (E.)            | 3.07  |
| NNG Demarc.                | 2.84  |
| Niagara                    | 3.24  |
| PEPL                       | 2.89  |
| Sonat Tier 1               | 3.11  |
| TCO IPP Pool               | 3.38  |
| Tetco ELa                  | 3.12  |
| Tetco M-3                  | 3.47  |
| Tetco STX                  | 3.06  |
| TGP Zone 0                 | 3.08  |
| TGP Zone 1 (500 Leg)       | 3.12  |
| TGT Zone SL                | 3.15  |
| New York Citygate          | 3.53  |
| Transco Station 65         | 3.19  |
| Transco Zone 6 (NY)        | 3.53  |
| Trunk E.La                 | 3.06  |
| Western Region             
| California Border          | 3.02  |
| El Paso Keystone (Permian) | 2.90  |
| El Paso Blanco (San Juan)  | 2.40  |
| Waha Hub                   | 2.97  |
| Canadian/Rockies Region    
| Nova/Aeco (C$/gig)         | 2.77  |
| Dawn Hub/Union             | 3.15  |
| Northwest Stanfield        | 2.12  |
| Wyoming Pool               | 1.00  |
| Opal                       | 0.94  |
| PGT-Malin                  | 2.46  |
| Sumas                      | 1.80  |
        Flow Dates 6/22-24

Looking for free daily natural gas basis and oil prices? Click here to
subscribe
or write enerfaxgold-subscribe@egroups.com. http://www.enerfaxgold.com/
--------------------------------------------------------------
Caminus: Your Competitive Edge in Energy.

Exploit the enterprise-wide transaction management power deployed by the
big names in gas
Caminus Gas, Caminus Pipeline, GasMaster and Nucleus.

Call Caminus at (212) 515-3700 
or visit the website at http://www.caminus.com/ 
or CLICK HERE
-------------------------------------------------------------
NATURAL GAS FUTURES
12 Month Strip 3.6730  +0.0225
18 Month Strip 3.7804  +0.0251
| Month | High  |  Low  | Close | Change |
| JUL   | 3.250 | 3.160 | 3.237 | +0.021 |
| AUG   | 3.310 | 3.220 | 3.294 | +0.018 |
| SEP   | 3.330 | 3.250 | 3.324 | +0.017 |
| OCT   | 3.375 | 3.300 | 3.361 | +0.012 |
| NOV   | 3.665 | 3.595 | 3.661 | +0.017 |
| DEC   | 3.926 | 3.850 | 3.926 | +0.022 |
| JAN   | 4.026 | 3.955 | 4.026 | +0.022 |
| FEB   | 3.990 | 3.920 | 3.973 | +0.022 |
| MAR   | 3.910 | 3.820 | 3.896 | +0.025 |
| APR   | 3.791 | 3.760 | 3.791 | +0.030 |
| MAY   | 3.780 | 3.740 | 3.776 | +0.032 |
| JUN   | 3.815 | 3.770 | 3.811 | +0.032 |
-------------------------------------------------------------
Natural Gas Futures End Up on Local Short-Covering 

    Natural gas for July delivery on the NYMEX settled up $0.021 Friday at
$3.237 per MMBtu, boosted by late short-covering by locals. The August
contract gained $0.018 to $3.294 per MMBtu. Weather forecasts today will
determine whether physical prices can rise to support any futures rally,
if not the market will likely test $3.00 this week. Spreads will dominate
the market the closer the July contract gets to expiration. Funds turned
dramatically short in most recent Commitments of Traders Report from the
Commodity Futures Trading Commission. Crude oil prices for the new front
August contract fell $0.13 Friday to $25.82 per barrel, mostly on news of
Venezuela increasing production. Estimated natural gas volume was 70,000
contracts, with about a third spreads. Natural gas for weekend delivery
across the US and Canada was generally $0.10 - $0.20 lower Friday. Natural
gas for weekend delivery at the Henry hub lost $0.12 to $3.17 per MMBtu.
-------------------------------------------------------------
RISK MANAGEMENT 
Across the Energy Enterprise

e-Acumen, Inc., is uniquely positioned to help you manage risk and
increase value. That's because our analytics, data and applications cover
all strategic aspects of the energy enterprise, from short-term
forecasting to comprehensive risk analysis and portfolio optimization, to
asset valuation and weather risk management. Dedicated to the needs
of energy and trading companies in a dynamic and competitive world, our
approach combines best-in-class physical fundamentals with
industry-leading statistical methodologies.

e-Acumen is a venture-backed company founded in January, 1997. Since then
we have listened attentively to the market and assembled a stellar cast of
seasoned energy industry professionals and Silicon Valley technologists.
Join us as we help the industry continue its path toward liquidity and
profitable, risk-managed growth in the exciting years ahead!

Click here to find out more about current special offers, or go to 
http://www.e-acumen.com/
-------------------------------------------------------------
Today's Power Bulletins
 * Portland General Gets Subpoena from CFTC on 'Wash' Trades
 * FuelCell Names CEO Jerry Leitmanas as Chairman of Board
 * Pacific Gas and Electric Provides Additional Information to Senate
Committee Showing that It Did Not Have Business Relationships with Perot
Systems
 * Avista Continues to Cooperate with Inquiries; Prepares Response to
Subpoena from CFTC and to Individual Shareholders
 * Cleco Finalizes Purchase of Mirant's 50% Interest in 725 MW Louisiana
Power Plant
 * PSEG Nuclear Awards Contract to Siemens-Westinghouse for Turbine
Replacement at Salem Units 1 and 2
 * Transition of NewPower's Texas Customers Proceeding on Schedule
 * Calpine Breaks Ground on 600 MW Metcalf Energy Center in San Jose,
California
 * Pinnacle West Again Receives 'AAA' Rating from Innovest for
Environmental Management & Performance
 * Ameren, FirstEnergy, NIPSCO to Form Transco Under Midwest ISO
-------------------------------------------------------------
Natural Gas NYMEX Volume
02JLY   59,700
02AUG   18,678
02SEP    6,117
02OCT    6,497
02NOV    2,953
03DEC    3,976
03JAN    1,161 
03FEB    1,339
03MAR    1,537
03APR    1,755
03MAY      215
03JUN      356
03JLY      296
03AUG    1,473
03SEP      638
03OCT      237
03NOV      702
03DEC    1,424
04JAN      859
04FEB      148
04MAR    1,834
04APR    2,436
04MAY       41
04JUN       30
-------------------------------------------------------------
At NewEnergy Associates, we are committed to developing superior solutions
that help our customers become the forerunners in the evolving energy
market. NewEnergy Office, is a suite of solutions addressing competitive
business operations, and decisions, represents the ultimate set of
business tools that can be implemented independently or as part of a
customized, integrated, enterprise-wide system.

NewEnergy's offerings have been operating successfully in numerous markets
worldwide for more than a quarter of a century. In addition to our suite
of solutions, we call upon more than 1,000 years of combined industry
consulting experience to assist customers in the analysis of critical
business decisions.

For more information, visit us at www.NewEnergyAssoc.com 
or call 770.779.2800.

CLICK HERE
-------------------------------------------------------------
Companies Consider Mexican Natural Gas Contracts

    Companies looking to enter Mexico's closed energy industry are
cautiously optimistic about the controversial 6-8 politically contested
multiple service contracts to produce natural gas in the Burgos basin on
the Texas border. Pemex plans to open a data room in November and says the
contracts would be finalized and the development blocks defined in
October. Pemex will offer the controversial multiple service contracts
individually in quick succession in November. The contracts would then be
evaluated by February and signed in March of 2003. However, the question
for the companies is whether the incentive of the deals compared to other
options around the world are great enough to warrant the investment. Under
the Mexican constitution, Pemex is not allowed to offer a percentage of
the commodity produced as payment to companies, because all natural
resources must remain in the hands of a government agency. In lieu of a
percentage, Pemex proposes payment for services according to a menu of
prices, but payment will depend on Mexico receiving income from natural
gas produced. Some big oil companies contend that scenario puts the burden
of risk on them, especially if natural gas prices plunge. The new
contracts will be renewable for up to 20 years instead of only 1 or 2
years. Opponents say they are a means of privatizing the country's oil and
natural gas industry, which was nationalized in 1938 and is widely
regarded as a symbol of Mexican sovereignty and economic independence.
However, a number of companies are interested in the contracts, some just
to get a foothold in Mexico's energy sector. But, there are also concerns
about the short amount of time allowed by Pemex between the opening of the
data room in November for seismic information and the award of bids in
February, because it forces companies into offering conservative bids.
Pemex indicated it might be open to extending the time frame.
-------------------------------------------------------------
Tomorrow's Market Opportunities Today

ENDUR
Never again be outpaced by changing markets.

Powerful, integrated and efficient, Endur is a 21st century trading, 
risk management and operations software environment designed for the 
complex and ever-changing global energy markets.

We build the future into every solution we develop today.
Openlink
It's The Way We Think
http://www.olf.com/
CLICK HERE
-------------------------------------------------------------
NRC Cites Wisconsin Electric Nuclear Power Plant

    The NRC has ruled that Wisconsin Electric Power's 512 MW Point Beach 2
nuclear power plant will be cited with a 'low-to-moderate' safety
violation. The NRC says that on February 20th a pump in the unit's
emergency cooling system broke down because of a build-up of nitrogen in
pipes, which had leaked into the pipes from another part of the plant
emergency system. Point Beach is owned by Wisconsin Electric Power and
operated by Nuclear Management Co. The NRC called  the ruling a 'white'
finding in its four-color system for safety violations ranging in severity
from green to white, yellow and red for the most serious violations.
Nuclear Management did not contest the finding.
-------------------------------------------------------------
Attention Oil Companies:

We can provide OCTG requirements.
Casing, Tubing, Drill Pipe and Line Pipe.
To your specifications.
STOCK items to Mill Orders.
New Inventory Items Daily.
Send us your requirements.

Pipe For Sale

22,000' 9 5/8" 53.5 HCQ-125 Rg-3 LSS ERW BTC 
6,000' 8 5/8" 32.0 C-90 with TK-7 Hydril CS 
17,000' 7" 38 Q-125 TCA Seamless Rg-3 Hydril 563
Please go to http://www.enerfaxdaily.com/page34.html to view more
available pipe
http://www.enerfaxdaily.com/pge34.html
Or write pipe@enerfax.com
pipe@enerfax.com
-------------------------------------------------------------
PHYSICAL POWER PRICES
|            | $/MWh  | $/MWh  | $/MWh  |
| Cinergy    | 37.00  | 31.00  | 33.40  |
| ECAR       | 39.00  | 30.00  | 35.95  |
| ERCOT(SC)  | 28.00  | 27.25  | 27.50  |
| Entergy    | 35.25  | 31.25  | 33.25  |
| TVA        | 43.50  | 36.35  | 40.45  |
| ComEd      | 38.00  | 32.50  | 34.30  |
| Nepool     | 43.00  | 40.25  | 41.30  |
| PJM West   | 52.00  | 40.00  | 48.30  |
| Main       | 39.00  | 32.50  | 35.65  |
| MAPP       | 35.00  | 29.00  | 31.95  |
| Palo Verde | 44.50  | 38.00  | 41.10  |
| Mid C      |  8.00  |  6.25  |  7.25  |
| COB        | 21.50  | 16.25  | 19.50  |
| 4 Corners  | 42.00  | 37.00  | 39.35  |
| Mead       | 46.50  | 41.00  | 44.90  |
| NP 15      | 35.00  | 29.00  | 30.90  |
| SP 15      | 39.50  | 33.00  | 36.20  |
                Power Delivered 6/24
-------------------------------------------------------------
Todays Gas Bulletins
 * Enron Used Hidden Reserves Accounts to Conceal Up to $1.5 Billion in
Trading Profits During California Power Crisis, According to 6 Former
Executives and Managers
 * El Paso Sale of Stock and Other Equity Securities Priced to Raise $1.35
Billion to Pay Off Short-Term Debt; To Offer 45 Million Shares of Common
Stock at $19.95 Each and 10 Million of 9% Equity Security Units at $50
Each
 * ExxonMobil and Shell Hope Saudi Prince Will Save Natural Gas Deal
 * Shell Says in Talks with Korea Gas on Alliance
 * TransCanada Disappointed with NEB Decision
 * Dominion Declares Quarterly Dividend of $0.645 per Share of Common
Stock
 * Rocky Mountain Energy Plans to Repurchase Common Shares
 * CMS Energy to Webcast June 26th Seminar for Investors
 * Two Jurors Who Found Arthur Andersen Guilty of Obstruction of Justice
Slept During Trial, Texas Lawyer Newspaper Reports in Today's Edition
-------------------------------------------------------------
Look No Further.
@Energy(R)
Manage all your energy risks.
Build and Price deals.
Value physical assets (generation, storage, etc.)
Report and reduce your energy risks.

FEA
Financial Engineering Associates, Inc.
http://www.fea.com/
CLICK HERE
-------------------------------------------------------------
PHYSICAL POWER PRICES (Cont)
|            | High  |  Low  | Average |
|            | $/MWh | $/MWh |  $/MWh  |
| NY Zone A  | 38.00 | 36.25 |  37.00  |
| NY Zone G  | 47.00 | 46.00 |  46.50  |
| NY Zone J  | 74.00 | 70.00 |  73.95  |
| Fla-Ga Bdr | 40.00 | 29.00 |  34.50  |
| FRCC       | 45.00 | 29.00 |  39.15  |
| Va Power   | 45.00 | 29.00 |  37.00  |
| VACAR      | 42.00 | 30.00 |  36.05  |
| SERC       | 45.00 | 29.00 |  35.55  |
| SPP        | 39.00 | 31.25 |  34.35  |
| Houston    | 34.50 | 33.50 |  34.00  |
                Power Delivered 6/24
-------------------------------------------------------------
Texas Power Markets Report

Get your hands on the most current information available on Texas Power
Markets-Restructuring/Competitionand. To order please call 800-809-8289 or
go to http://www.skippingstone.com/texas.htm or for more information 
write texasreport@enerfax.com
A Comprehensive Report Detailing 
Recent Developments in the Texas Power Marketplace.
Get all the facts about the restructured Texas Power Markets in a clear
and comprehensive 130+ page report.
Legislative Summary
Economic and Market Analyses Up-to-date Market Rules
POLR Decisions and Opportunities Wholesale Market
DescriptionInfrastructure Considerations ERCOT RulesReview of the Pilot
Program Participation RequirementsMarket Participant AnalysisPrice to Beat
AnalysisKey Contacts InformationAnd Much More!
All For $995
. You Will Receive:
Over 130 color pages of clear, concise information shipped as a PDF
(electronic copy) upon processing your on line order. You can either use
your credit card for immediate delivery, or complete the on line order
form and pay by check. Your report will be shipped to you upon receipt of
your check.
-------------------------------------------------------------
Williams to Eliminate Energy Trading Positions  

    Williams will eliminate 16% of its energy marketing and trading
positions this week as it adjusts to an industry decline. Last week,
Williams announced a plan to cut merchant energy jobs and other measures
to save $50 million a year. The company has about 800 US employees in its
trading and marketing unit and about 132 of those will lose their jobs
this week. Williams also laid off 11 traders, or 13% of its trading staff,
in London. The company has about 12,000 employees in total. The energy
trading sector is dwindling as governmental investigations and stricter
credit rating criteria erode investor confidence. Williams, El Paso Corp,
Aquila and many others have curtailed their trading and are selling assets
and stock to improve their balance sheets in a move to reassure investors
and credit rating agencies.  Williams has cut financing for its trading
unit by 33%. It plans to sell more than $1 billion in assets by the end of
2002, including refineries in Tennessee and Alaska, to raise cash and cut
debt. Williams' shares dropped $0.22 to $7.13.
-------------------------------------------------------------
Skipping Stone's Energy Transaction Software Report is a benchmark
analysis of the different transaction packages available for the energy
market

This report contains 228 pages of charts, graphs and vendor-supplied
information on 28 vendors. Side by side comparison of over 350 data points
produced by Skipping Stone. For information or to order this pdf report
for $995,

Please call 800-809-8289 
or write software@enerfax.com
-------------------------------------------------------------
New Dominion Peaking Power Available for Summer

    Dominion Energy says that its new 600 MW power plant in Armstrong
County, Pennsylvania has entered commercial operation. The Armstrong
station cost $240 million to build and consists of 4 natural gas fired
peaking turbines. Since June of 2001, more than 4,000 MW of generating
capacity have entered service in the PJM grid for a total capacity of
62,567 MW. By the end of July, more than 500 MW of additional capacity are
expected to go on line in PJM. The PJM grid serves some 27 million people
living in all or parts of Pennsylvania, New Jersey, Maryland, Delaware,
Washington DC and Virginia.
-------------------------------------------------------------
R. W. Beck is an engineering and management consulting firm serving
utilities, developers, financiers and governments worldwide.  Founded in
1942, we help our clients face energy market challenges by providing:

Portfolio Analysis to improve diversification and risk-adjusted
performance of energy assets.

Risk Control to help reduce the probability of losses.

Asset Valuation to understand the market value and risk characteristics of
physical and financial energy assets.

Training to improve your ability to identify and manage tactical and
strategic risks.

Please visit our web site at http://www.rwbeck.com
CLICK HERE
-------------------------------------------------------------
NATURAL GAS - NYMEX 
REPORTABLE POSITIONS AS OF 06/18/02 

                                                     | NONREPORTABLE 
    NON-COMMERCIAL     | COMMERCIAL   |     TOTAL    | POSITIONS    LONG |
SHORT |SPREADING| LONG | SHORT | LONG | SHORT | LONG |SHORT

10,000 MMBtu                                OPEN INTEREST: 986,275 

COMMITMENTS 
15,854 17,221 169,240  752,570 765,709 937,663 952,170 48,612 34,105 

CHANGES FROM 06/11/02                CHANGE IN OPEN INTEREST: -9,849 
-4,400 -6,132   3,791   -3,911  -2,992  -4,521  -5,334 -5,328 -4,515 

PERCENT OF OPEN INTEREST FOR EACH CATEGORY OF TRADERS 
   1.6    1.7    17.2     76.3    77.6    95.1    96.5    4.9    3.5
------------------------------------------------------------

5th Annual Electric Market Forecasting Conference, 
Sept. 12 & 13, 2002 

Portland, OR USA, Skamania Lodge (45 minutes East of Portland
International Airport)

Navigating Future Energy Markets presentations on emerging resource
development options, transmission considerations, fuel strategies and
approaches to managing uncertainty in volatile energy markets.  Speakers
from General Electric Power Systems, Gas Technology Institute, NREL, UBS
Warburg, Coral Energy, FPL Energy, Williams Energy Marketing and Trade,
Siemens Power Transmission & Distribution, TransAlta, and Capstone Global
Energy and more.  Sponsored by EPIS, Inc., developers of the AURORA
electric market model.For more information, go to
http://www.epis.com/epis_events/events.htm
or call 503-722-2023. 
CLICK HERE 
-------------------------------------------------------------
Idacorp to Pull Back from Power Trading 

    Idacorp, a power utility with 700,000 customers in Idaho, Oregon and
Nevada, said it will gradually reduce its power trading business and
layoff about 60 employees as credit rating agencies tighten their
requirements for an investment grade rating in the energy trading
industry, thus reducing the number of credit worthy trading partners. The
sector is shriveling amid a myriad of governmental and regulatory
investigations into questionable trading practices and tougher standards
by rating agencies. Idacorp Energy will discontinue trying to attract new
customers, it said. The cuts, which will eliminate about 50% of the unit's
120 positions will be made over 18 months, and Idacorp will reduce working
capital for the business by 50% to $100 million. Dynegy announced last
week that it would close down DynegyDirect, its online trading platform,
due to the reduced number of power and natural gas trades amid industry
liquidity concerns. The decision will not have an impact on expected 2002
earnings of $1.35-$1.70 per share, Idacorp said. Analysts average
estimates are $1.46 per share. Idacorp Energy will lower its maximum value
at risk to under $3 million from $10 million. The unit had an average of
$1.4 million at risk and a high of $2.4 million in the 1st quarter. Shares
of Idacorp dropped $0.40 to $26.66 on Friday.
-------------------------------------------------------------
NEB Denies TransCanadas Rate Hike Request

    The National Energy Board has denied TransCanada PipeLines' bid to
increase prices on its main natural gas pipeline system. TransCanada
claims the hike is needed in order to remain competitive and help offset
the loss of long-term transportation contracts. TransCanada had asked the
NEB to change the way regulated tolls on its west-east pipeline system are
calculated to bring returns more in line with pipelines in the US.
Canadian natural gas producers are opposed to the plan, saying it would
require them to pay an extra $179 million to transport supplies. The NEB
decided to continue calculating tariffs using the same method, but raised
tolls minimally to compensate for increased business risks resulting from
new pipeline competition and an industry shift towards short-term shipping
contracts. TransCanada applied for an after-tax weighted average cost of
capital of 7.5%, up from 5.84% in 2001. If the proposal was denied,
TransCanada said it would seek a deemed common equity component of 40%, up
from 30%, providing a return on common equity of 12.5%, or about the same
as under the cost of capital proposal. Instead, the NEB decided to keep
its previous method of determining tolls in tact and it set a rate of
return for the mainline of 9.61% for 2001 and 9.53% in 2002. It also
raised the deemed common equity component to 33%, in effect increasing
tolls by 2% for the 2-year period.
                     
-------------------------------------------------------------
Baker Hughes Weekly Rig Count

    The number of rigs searching for oil and natural gas in the US fell by
six to 838 last week, compared to 1,277 a year ago, according to Baker
Hughes. The number of rigs exploring in Canada was up 32 this week to 210,
compared to 305 a year ago. The number of rigs in the Gulf of Mexico was
flat at 105, compared to 154 a year ago. The number searching on land was
715, and the number of offshore rigs was at 110. There were 13 inland
rigs. The total North American rig count rose by 26 to 1,048, compared to
1,582 a year ago. The number of rigs searching for oil in the US rose by 5
to 139, and the number of rigs searching for natural gas fell by 11 to
698. There was one miscellaneous rig, unchanged from last week.
-------------------------------------------------------------
 Progas Storage and Services, Inc.

          Progas can custom build gas storage in the Upper Midwest.

? Design to your specifications
? Close to your markets
? Unregulated storage
? Lower transportation fees
? Lower storage rates

Progas is now accepting proposals and orders for years 2002-2007 for
approxamately 5 bcf of storage on Midwestern system serving Indiana,
Illinois, and 3 bcf on Texas Gas Transmission system serving Tennessee,
northern Kentucky, Indiana, and Ohio.  Additional potential storage filds
beding acquired at this time on Midwestern, anhandle Eastern and A & R
(Coastal) systems serving the Upper Midwest. Inquiries from potential
partners, investment bankers, and brokers welcome.


Progas Storage and Services, Inc.
8610 South Highway 277
Abilene, TX 79606
Phone: 915-698-3699
Fax: 915-698-2859
Email: gastorage@aol.com
-------------------------------------------------------------
Credit Concerns Erode Energy Trading Business

    The shrinking natural gas trading industry in the US and Canada, amid
concerns over credit ratings and investor confidence, has made it
increasingly difficult to find buyers. After Aquila and Engage Energy
recently announced that they were closing their Canadian operations, the
gap in trading partners grew significantly. Some of Engage's operations
will be taken over by Duke's Canadian natural gas trading operation. Duke
acquired Engage as part of its $8.5 billion takeover of Westcoast Energy.
Traders say they are buying natural gas, but are having a hard time
turning it around because credit concerns have eroded the number of
companies they are currently allowed to deal with. Credit rating agencies
have indicated that energy trading companies may not qualify for an
investment grade rating due to the volatility of the sector. Last week,
Aquila said it was pulling back from the energy trading after cutting its
earnings forecast and dividend. Industry insiders say that Aquila was told
if they had a trading company, their credit would be downgraded, and if
they didn't, their investment grade rating would be maintained. However,
the shift away from energy trading could prove beneficial to electronic
trading platforms, in which participants have to clear credit requirements
before they can post any bids or offers. Also, the downturn in energy
marketing could leave the door open to a company with a good credit rating
and deep pockets to step in and grab a big share of the market right off
the bat. In addition, it is not likely such a company would encounter any
shortage of qualified traders, given the number of lay-offs in the field
lately.
-------------------------------------------------------------
FINANCIAL SUMMARY
The TSE 300 dropped 85.92 points to 7139.43
The CRB Index dipped 0.62 points to 203.59
The US Dollar decreased  0.69 points to 108.19
The Dow declined 177.98 points to 9253.79
The S&P 500 lost 17.15 points to 989.14
The Nasdaq was down 23.79 points to 1440.96
August NYMEX Crude Oil slipped 0.13 to 25.82
Canadian-US Exchange fell 0.0084 to 1.5230
-------------------------------------------------------------
Lotus, AOL, Yahoo, Excite, Readers-subscribe by writing
to:enerfax-subscribe@egroups.com
Pure text , Lotus Readers  join-Enerfaxtext@relay.netatlantic.com 
Outlook users view the web in your email
join-enerfaxdaily@relay.netatlantic.com
-------------------------------------------------------------
To view past issues of Enerfax Daily -Sign up for free at  Divines
Sagewave at

http://www.sagewave.com/D2/autolog/common/log.asp?KEY=enerfax or
write enerfax@enerfax.com for past issues directions



---
You are currently subscribed to enerfaxtext as: chris.germany@enron.com
To unsubscribe click on the link below:
http://relay.netatlantic.com/cgi-bin/unsubscribe.pl?id=14817067X
<a href="http://relay.netatlantic.com/cgi-bin/unsubscribe.pl?id=14817067X"> Click Here </a>