FYI
                             
  Metropolitan Desk; Section B 
  Metro Business 
  Internet Utility Plans Move to Westchester 
  By Joseph P. Fried 
    
  09/21/2000 
  The New York Times 
  Page 11, Column 5 
  c. 2000 New York Times Company 

  The New Power Company, an Internet utility, is planning to establish its 
headquarters in
  Purchase, N.Y., state and Westchester County officials said yesterday.

  New Power was formed in May by the Houston energy giant Enron to work with 
America
  Online and I.B.M. to sell electricity and natural gas to homes and small 
businesses over
  the Internet. It has been temporarily located in Greenwich, Conn.

  In return for its commitment to create 400 new jobs at its future 
headquarters and invest $7
  million in renovating and outfitting 80,000 square feet at a Purchase 
office complex, New
  Power is eligible to apply for hundreds of thousands of dollars in energy 
discounts and tax
  exemptions from state and county agencies. Joseph P. Fried (NYT) 


                                                  

  Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved. 

  

                             
  Business; Financial Desk 
  Markets Drillers Seek New Natural Gas Sites 
    
  09/21/2000 
  Los Angeles Times 
  Home Edition 
  Page C-4 
  Copyright 2000 / The Times Mirror Company 

  Natural gas drillers are turning up the heat on Uncle Sam to open up more 
areas for
  exploration, amid the highest gas prices ever.

  Anadarko Petroleum Corp. said Wednesday it plans to start drilling for 
natural gas in two
  parts of the Arctic by early 2002, in hopes that a gas pipeline to the 
Lower 48 states will be
  built by 2008.

  The company last month bought the right to explore 176,000 acres in the 
MacKenzie Delta
  of the Canadian Arctic. It will begin seismic shooting, which maps the 
geology of potential
  drilling sites, this winter in both the Delta and Alaska's North Slope, 
said John Seitz,
  president and chief operating officer.

  Natural gas prices in the last decade haven't been high enough to justify 
the expense of
  building a gas pipeline from Alaska, major oil companies have said.

  But with prices having doubled this year, interest in building a line has 
been renewed.

  Gas futures on the New York Mercantile Exchange fell 4.5 cents to $5.318 
per million
  British thermal units Wednesday, down just slightly from Tuesday's record.

  "The country needs gas from the Arctic," Seitz said, speaking at the Dain 
Rauscher
  Wessels oil and gas conference in Houston.

  About a dozen companies have pipeline proposals on the table, Seitz said. 
He estimated
  that at least one route could be built by 2008. Some estimates are for as 
early at 2005, he
  said.

  Drilling on both Anadarko's MacKenzie and North Slope properties could 
begin in December
  2001 or January 2002, Seitz said.

  But chances for construction of a gas pipeline could be threatened if the 
government
  intervenes to push down prices, experts say.

  "We've got an election year, so anything's up for grabs," said Lisa 
Stewart, executive vice
  president of business development for oil and gas explorer Apache Corp.

  Another energy giant, gas producer and energy trader Enron Corp., also 
warned against
  government intervention.

  "Markets do correct, and this market also will correct," Enron CEO Kenneth 
Lay said at
  the Governors' Natural Gas Summit in Columbus, Ohio. "As long as the 
regulators will leave
  it alone . . . this market will come back into balance in the next two or 
three years."

  Without government interference, Apache thinks prices will remain appealing 
enough to
  spur new drilling. Stewart noted that gas inventories are low nationwide 
and demand is
  expected to boom.

  The government will probably move or be pressured to open up lands now off 
limits to
  explorers, rather than impose price controls, Seitz said. California and 
the Rocky
  Mountains are ripe for exploration, he said. "The solution for the prices 
is more supply, and
  we need to have more land to explore and exploit," he said.

  Shares of both Anadarko and Apache rose Wednesday, even as many other 
energy stocks
  fell. Anadarko (ticker symbol: APC) gained 95 cents to $64; Apache rose 19 
cents to
  $62.69. Both trade on the New York Stock Exchange.

  Enron (ENE), one of the hottest energy stocks, fell $2.69 to $82.17 on the 
New York Stock
  Exchange.

  (BEGIN TEXT OF INFOBOX / INFOGRAPHIC)

  Gas Stocks on Fire

  Shares of gas and oil exploration and production companies Anadarko 
Petroleum (ticker
  symbol: APC) and Apache Corp. (APA) have rocketed this year as gas and oil 
prices have
  soared.

  *

  Monthly closes and latest for Anadarko and Apache on the New York Stock 
Exchange

  Anadarko

  Wednesday: $64.00, up 95 cents

  *

  Apache

  Wednesday: $62.69, up 19 cents

  Source: Bloomberg News 

  GRAPHIC: Gas Stocks on Fire, Los Angeles Times; 


                                                  

  Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved. 


Enron's CEO Lay: Don't Overreact To Natural Gas Prices

09/21/2000
Dow Jones Energy Service
(Copyright (c) 2000, Dow Jones & Company, Inc.)

(This article was originally published Wednesday) 


HOUSTON -(Dow Jones)- The competitive natural gas market can deliver reliable 
service and help consumers
reduce exposure to rising gas prices, Enron Corp. (ENE) chairman and chief 
executive officer Kenneth Lay said
Wednesday in Ohio.

Using a number of slide graphics, Lay spoke at Wednesday's natural gas summit 
in Columbus, Ohio, convened by
Alaska Gov. Tony Knowles and Ohio Gov. Bob Taft. 

Lay warned against overreacting to the recent run-up in prices and urged 
officials to encourage utilities to take
advantage of price hedging opportunities to protect consumers against price 
volatility. 

Lay said the Nymex natural gas futures board shows gas prices, although at a 
peak $5.495 per million British
thermal units, declining to $3.345/MMBtu by September 2003. 

"The gas resource base remains robust and today's prices will self-correct 
over time," Lay said. Overall, he said, the
market has delivered more than $174 billion in savings to consumers since the 
market opened to competition in
1984. 

Lay said those utilities that haven't protected their customers against 
rising prices this winter will pay less per unit
of gas than they did in the early 1980s. 

The Enron chairman, a close friend of Republican Texas Gov. George W. Bush, 
also urged government officials to
consider lifting access restrictions to develop new gas supplies to meet 
growing electricity generation demand from
the growing digital economy. 

Federal statutes restrict production drilling in the U.S. Eastern Seaboard, 
the Gulf Coast of Florida and California,
and the Rockies, Lay said.. 

About 400 people attended the one-day conference Wednesday, sponsored by the 
Interstate Oil and Gas Compact
Commission (IOGCC). 

Also offering presentations were Dr. Fausto Alzati Araiza, Mexican 
President-Elect Vicente Fox's energy advisor
and Nick Schultz, vice president of regulatory and transportation policy for 
the Canadian Association of Petroleum
Producers. 

Daniel Yergin, chairman of Cambridge Energy Research Associates, also urged a 
"continent-wide" response by
industry and government to address the current natural gas price shock and 
meet long-term energy needs. 

The price shock means most U.S. utilities anticipate an increase of between 
20%-40% in residential heating bills
this winter while industrial customers will be hit even harder - as much as 
50%-100% increases in energy costs,
Yergin said. -By John Edmiston, Dow Jones Newswires, 713-547-9209;
john.edmiston@dowjones.com




Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved. 



Report on Business: Technology At Work
Web consultants feel dot-com pain Failure of many Internet startups causes 
plunge in consulting revenue
DOUGLAS A. BLACKMON AND ANN CARRNS
Wall Street Journal

09/21/2000
The Globe and Mail
Metro
T6
All material copyright Thomson Canada Limited or its licensors. All rights 
reserved.

A big dose of reality is sinking in for the Web's professional gurus. 

After months of defying the gravitational pull of imploding dot-coms, 
revenues are plunging at some Internet
consulting firms as big companies shift their investment strategies for Web 
technology. Investors have reacted by
letting the air out of a slew of once high-flying stocks.

One of the fastest-growing consultancies, iXL Enterprises Inc., announced the 
layoff of 350 workers less than a
week after the resignation of its president and an announcement that revenue 
in the current quarter will be as much
as 20 per cent lower than expected. 

Meanwhile, there were signs that an earlier generation of consulting firms 
was trying to move in for the kill, mounting
raids to steal talented young Web experts from the battered firms. Deloitte 
Consulting was the most brazen, taking
out a full-page ad in The Wall Street Journal urging employees of Web firms 
to jump ship. 

The extent and precise nature of the Web consulting fallout isn't clear. iXL, 
Viant Corp. and Xpedior Inc., each of
which have issued warnings of lower-than-anticipated third-quarter revenues, 
maintain that large firms are slowing
spending as they feel less pressure from Internet start-ups. 

"In June and July, the global 1,000 companies started looking around and 
saying, 'Holy Cow, these dot-coms aren't
around anymore, nipping at my heels . . . I'm going to take more time to make 
these decisions,' " said William
Nussey in an interview after he resigned as president of iXL. 

But senior executives at major corporations say that while the climate and 
pace may have changed, they are still
investing heavily in the Internet. 

Bank of America, for instance, announced in July that it plans to spend 
$70-million (U.S.) on electronic commerce
initiatives over the coming six months. 

Kevin Koertje, marketing director at Boise Cascade Corp.'s office-products 
unit, which generates hundreds of
millions in on-line sales, said the company "is pouring a tonne more money" 
into Web systems. 

But much of that is going to older firms with expertise in legacy computer 
systems, such as KPMG Consulting, and
to narrowly specialized technology experts. 

Indeed, the biggest shift in Web consulting may be simply that some customers 
are no longer convinced they want
outside help in developing on-line strategies. Xpedior, for instance, said 
Sears Roebuck & Co., which is building up
its in-house Web expertise, has reduced its use of the consulting firm's 
services this year. 

Analysts say investors must differentiate between firms with true strategic 
expertise to sell and those that are
merely proficient at setting up Web sites. 

Mayank Tandon, an analyst with Janney Montgomery Scott, said firms with true 
"intellectual capital" will be the
ones to succeed, citing Chicago consultant Diamond Technology Partners Inc., 
which works closely with Goldman
Sachs Group Inc. and Enron Corp. 

Raul Fernandez, chief executive officer of Proxicom Inc. of Reston, Va., said 
his firm is on track to meet revenue
projections.




Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved. 


Colorado Utility Plans to Build a Power Plant Near Colorado Springs
Rich Laden

09/21/2000
KRTBN Knight-Ridder Tribune Business News: The Gazette - Colorado Springs, 
Colorado
Copyright (C) 2000 KRTBN Knight Ridder Tribune Business News; Source: World 
Reporter (TM)

An arm of energy giant Enron Corp. will build a $100 million power plant 
south of Colorado Springs to sell electricity
to the former Public Service Co. of Colorado, which wants to add generating 
capacity around the state. 

The plant, to consist of four natural gas-powered turbines generating 215 
megawatts, will be built near an existing
electric substation, west of Interstate 25 and about six miles south of 
Colorado Springs Utilities' Ray Nixon Power
Plant.

Denver-based Xcel Energy Inc., formerly Public Service, serves Denver, 
northern Colorado and other areas outside of
Colorado Springs. It plans to spend $1.55 billioncq to upgrade its 
power-generation and transmission capacity
around the state. The goal is to have enough new power for 1.6 million 
households beyond the 2.5 million customers
Xcel Energy now serves. 

Earlier this year, Xcel sought proposals from companies interested in meeting 
its projected power needs. Enron
North America Corp., a subsidiary of Houston-based Enron, an electric, gas 
and communications powerhouse, was
one of nine successful bidders responding to Xcel's request for proposals. 
Those nine bidders will help supply about
1,500 megawatts of generating capacity around Colorado. 

Another successful bidder, Wilexco Inc. of Englewood, also was chosen by 
Xcel, and plans to build an 83-megawatt
plant south of the planned Enron facility at a cost of more than $90 million. 
It will burn tires to generate its power
although the facility still needs to clear various local and state regulatory 
hurdles. 

Enron should complete its facility by June, said Eric Thode, director of 
public relations for Enron North America
Corp. Wilexco's plant is targeted for operation by 2003, said company owner 
Brian Wilde. 

Xcel spokeswoman Jessica Anderson said her company has a 10-year deal with 
Enron to buy power. Wilde said
his deal with Xcel is for 15 years. 

"The people who live and work here in Colorado need this additional 
generation," Anderson said. 

At the end of those initial contracts, Enron and Wilexco could sell power to 
other users. The opportunity for such
deals might be enhanced if Colorado deregulates its electric industry and 
opens it up to competition. 

Until now, state lawmakers have rejected deregulation efforts. Still, 
Anderson said, the addition of the power plants
helps position the state for the time when deregulation takes place. Xcel, as 
Public Service, supported deregulation
legislation in the General Assembly. 

Wilde, of Wilexco, said selling electricity in a deregulated market wasn't 
the reason his firm sought to build its plant
because he doesn't know what the electric industry will be like in 15 years. 

Thode echoed that sentiment, saying, "This plant is being built for the deal 
as it currently exists. This deal makes
sense because this deal makes sense, period." 

Colorado Springs Utilities also is adding generating capacity. 

Two 30-megawatt, gas-fired turbines have been added to the Nixon Plant, which 
burns coal to generate its power.




Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved. 



            Houston Chronicle
            Thursday, September 21
             Business Briefs  

            Koch forms unit to trade bandwidth

                           WICHITA, Kan. -- Closely held Koch Industries, one 
of the
                           world's largest energy traders, said it has formed 
a unit to trade
                           bandwidth, or spare capacity on fiber-optic 
cables. 

                           Koch Global Bandwidth Services will be led by Bill 
Mohl, who
                           has held several senior management jobs at Koch 
for the past five
                           years. He also was vice president at Altra Energy 
Technologies.
                           The unit will be based in Houston. 

                           Koch Industries, based in Wichita, joins companies 
such as
                           Houston-based Enron Corp. and Tulsa-based Williams 
Cos. that
                           have diversified into trading bandwidth from their 
pipeline
                           business. 

                           Enron plans to spend as much as $1.95 billion over 
the next two
                           to three years to expand its fiber-optic network 
and
                           broadband-trading operations, Chief Executive Ken 
Lay said
                           Wednesday in Houston. 


USA: Profit-taking hits Enron stock.

09/20/2000
Reuters English News Service
(C) Reuters Limited 2000.

HOUSTON, Sept 20 (Reuters) - Energy marketer Enron Corp. saw its stock fall 
sharply for a second day
Wednesday, a move analysts attributed to profit-taking after a strong run for 
the shares since early July. 

Enron closed $2-11/16 lower at $82-3/16 on the New York Stock Exchange 
Wednesday after losing $5-9/16
Tuesday, making a total decline of slightly more than 9 percent over both 
days.

Analysts noted the decline followed a strong performance by the stock, which 
broke above a mid-$60s to mid-$70s
trading range in August to hit a 52-week high of $90-9/16 on Aug. 23, more 
than doubling its end-1999 value of
$44-6/16. 

"Inevitably you are going to get some profit-taking as we get near the end of 
the quarter and people want to lock in
some of their profits," said Merrill Lynch analyst Donato Eassey. 

Ed Tirello of Deutsche Banc Alex Brown said the decline was due in part to 
investors viewing Enron as a
technology play, because of its online trading and broadband businesses. 

Consequently Enron's stock was susceptible to weakness in the tech-heavy 
Nasdaq market this month, which
appeared to have triggered selling by momentum investors, Tirello said. 

Merrill Lynch's Eassey said Enron's stock might also have been hurt by an 
article in the weekly Texas supplement
to the Wall Street Journal, which called into question the trading profits 
reported by Enron and other big energy
marketers. 

Eassey dismissed the article as "misleading" and said he retained a Buy 
rating on Enron's stock with a 12
month-price target of $95. 

"This is a stock that you've got to have in your core portfolio. Enron is 
still one of the premier companies that you
can own in all of the market," he said. 

However, investing in Enron was not without risks and amounted to betting on 
the company's ability to execute
successfully on new technology opportunities, he added.




Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved.