Dynegy: Enron a 'Model Competitor'
It doesn't happen very often, so we're noting an apparently spontaneous 
comment from Dynegy Counsel Ed Ross at a FERC Roundtable last week that one 
of his chief competitors, Enron, "has done an excellent job of being 
competitive." He suggested others could look to Enron as a "model competitor. 
They've done a very good job of setting up a strong financial desk and a 
strong physical desk and we don't see any problem with it. I think they have 
set up their books in a way that they truly have separation between the 
regulated and unregulated aspects of their business." 
Ross had prefaced the remark, midway through a heated debate on affiliate 
abuses, with the comment that "this is not an industry-wide problem. I 
believe there are good and bad players in the market today." 
Earlier, Enron's Leslie Lawner had invited "all of you to spend the day on 
Enron's trading floor, because I assure you, you will not see a more 
competitive environment anywhere. There is no way these folks, who fight like 
cats and dogs among themselves, would voluntarily transfer value to the 
pipeline group for the good of the bottom line." Lawner had to quickly back 
off the invitation - mentioning confidentiality restrictions - when it 
appeared about half the room was ready to troop over to the trading floor.