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* In anticipation of a jump in the country's power demand, Venezuela's state-owned heavy industries company Corporacion Venezolana de Guyana said it would go ahead with plans to build a $2.1 billion hydroelectric plant in southern Venezuela. Companies have until July 30 to register for the first phase of the Tocoma Dam project, which includes engineering and geological studies. Mitsubishi Corp. and Marubeni Corp. are expected to be among the bidders. The Tocoma Dam, to be located along the Caroni River, is expected to begin producing power in 2006 (Bloomberg, 6/18).

* Duke Energy is leading the nuclear power industry's hopes of a comeback. It has filed requests for license renewals at two of its three nuclear power stations. Rivals are watching Duke's effort closely, and are soon expected to follow suit (Financial Times, 6/17).

Bonds Maturity Issue Date Issuer Amt ($ mil) Offer Price Type of Security Coupon (%) Yield (%) Moody's S&P Book Runner(s) 6/15/06 6/8/01 Texas Utilities 795.9 99.48 Notes 6.375 6.498 Ba3 BBB LEHMAN 6/15/11 6/11/01 Exelon Generation 699.2 99.88 Senior Notes 6.95 6.967 Baa1 A- SSB/CSFB 6/26/06 6/12/01 Tokyo Electric Power Co. 410.8 100 Bonds 0.48 N/A Aa2 AA- MIZUHO-SEC 7/3/06 6/13/01 International Endesa 85.2 100 FRNs Floats Floats Aa3 A+ CAINDO 6/25/13 6/13/01 Kansai Electric Power 246.5 100 Bonds 1.5 N/A Aa2 NA MIZUHO-SEC Equity Issue Date Issuer Amt ($mil) Type of Equity Book Manager 6/7/01 Consumers Energy 400 Preferred TBA M&A Date Announced Date Effective Target Target Country Acquiror Name Acquiror Country Value ($mil) 06/07/01 06/07/01 Scientific Energy U.S. Quazon U.S. - 06/08/01 - Cia Electrica Central Bulo Bolivia NRG Energy U.S. - 06/08/01 06/08/01 Gujarat State Energy Gen India Gas Authority of India India - 06/10/01 06/10/01 Rubicon New Zealand Deutsche Australia Australia - 06/11/01 - Rugeley Power Station U.K. International Power U.K. 276.0 06/12/01 - Empresa de Generacion Peru NRG Energy U.S. - 06/12/01 - Electra de Viesgo Spain Hidroelectrica del Cantabrico Spain - 06/12/01 - Graninge-Heating Sweden Narvarme Sverige Sweden 5.0 06/12/01 06/12/01 Itiquira Energetica Brazil Tosli Acquisitions Netherlands 14.0 06/12/01 06/12/01 Trigen Energy Canada Canada US Energy Systems U.S. 17.0 Source: Thomson Financial Securities Data Company. For more information, call Rich Peterson at (973) 645-9701.

* State-run Gas Authority of India (GAIL), India's largest gas distributor, has signed an agreement with Gujarat State Energy Generation to develop a 156 MW power project in western India. GAIL will hold 12% equity in the plant at Hazira, Gujarat. Other shareholders include Krishak Bharati Cooperative, Gurajat Electricity Board, Gujarat Industrial and Investment Corp., Gujarat Power Co. and Gujarat Industries Power Co. (Reuters, 6/8)

* London Electricity is in early takeover talks with American Electric Power about acquiring its U.K. subsidiary Seeboard, a distribution outfit. Last month AEP spurned an initial GBP1.5 billion approach from London Electricity (Independent On Sunday, 6/9).

* Mexico's Federal Electricity Commission has selected Electricité de France International to build, operate and maintain the $290 million Rio Bravo III electricity plant (Reuters, 6/12).

* New York state governor George Pataki ordered state buildings to get 20% of their electricity from renewable energy sources by 2010. The governor also appointed a task force of industry leaders, state officials and environmentalists to find ways to reduce carbon dioxide emissions in New York, to combat global warming, and renewed his call for federal emissions standards for older power plants. The announcements set Mr. Pataki apart from his fellow Republican, George W. Bush, and the governor's aides acknowledged that as he approached a re-election campaign next year, it behooved him to distance himself from the president and his increasingly unpopular environmental policies. The governor signed an executive order mandating that state facilities draw at least 10% of their electric needs from renewable sources by 2005, and 20% by 2010 (New York Times, 6/10).

Bonds Maturity Issue Date Issuer Amount ($ mil) Offer Price Type of Security Coupon (%) OfferYield (%) Moody Rating Standard & Poor's Rating Book Manager(s) 1/12/2005 1/12/2000 GPU Inc 299.4 99.81 Senior Notes 7.700 7.746 Baa1 A- SALOMON-SMITH 7/12/2002 4/12/2000 PSE&G 300.0 100.00 FRNs Floats Floats Baa1 BBB+ LEHMAN Equity - 30/11/2000 NiSource Inc 252.5 25.25 Common Shares - - - - CSFB M&A Date Announced Date Effective Target Name Target Country Acquiror Acquiror Industry Sector Acquiror Country Value ($mil) 11/30/00 - CERJ(Empresa Nacional de) Brazil Chilectra Electric, Gas, and Water Distribution" Chile 75.0 11/30/00 11/30/00 Djuro Djakovic Thermo Electric Croatia Austrian Energy & Environment Machinery Austria - 12/04/00 - Apollo Gas Canada Eagle Tail Energy Oil and Gas; Petroleum Refining Canada 5.4 12/04/00 - GEW Koeln (Cologne) Germany RWE Oil and Gas; Petroleum Refining Germany - 12/04/00 12/04/00 MidSouth Utilities United States Conumers North Carolina Water Electric, Gas, and Water Distribution" United States 1.1 Source: Thomson Financial Securities Data Company. For more information, call Rich Peterson at (973) 645-9701.

CIBC WORLD MARKETS POWER TECHNOLOGY INDEX Company Ticker Price 52-Week Low 52-Week High Market Cap ($ MM) 4-Week Change % 8-Week Change % 2001 YTD Change % Active Power ACPW $24.87 $12.75 $79.75 983.5 -3.6 21.9 13.4 American Superconductor AMSC 26.58 10.75 61.88 583.4 43.3 89.5 -6.9 AstroPower APWR 52.67 13.13 63.92 839.7 9.0 69.4 67.9 Ballard Power Systems BLDP 54.99 32.75 121.50 4,995.9 15.0 25.2 -12.9 Beacon Power BCON 6.30 3.65 10.75 270.8 52.5 40.0 -37.0 Capstone Turbine CPST 31.50 17.75 98.50 2,464.9 1.4 8.4 12.5 Evergreen Solar ESLR 12.99 6.00 20.75 146.9 16.6 18.6 92.4 FuelCell Energy FCEL 80.05 19.38 108.75 1,264.1 9.4 51.9 16.8 H Power HPOW 13.00 5.25 35.94 694.3 30.5 91.2 69.1 Hydrogenics HYGS 5.67 2.75 15.02 221.8 -14.7 41.4 29.6 Mechanical Technology MKTY 9.34 2.00 16.50 331.2 31.0 110.1 166.9 Plug Power PLUG 29.70 9.13 71.63 1,307.2 32.2 98.9 102.2 Proton Energy PRTN 12.25 5.25 36.00 417.8 6.4 69.0 16.7 SatCon Technology SATC 13.78 8.00 41.00 191.4 24.8 34.0 39.5 Power Technology Index1, 2, 3 . 612.43 . . . 12.4 44.7 20.9 NASDAQ . 2,233.66 . . . 4.9 13.9 -9.6 100 as of 12/31/98 2. Equally weighted 3. Includes Plug Power as of October 29, 1999, Capstone Turbine as of June 28, 2000, Active Power as of August 7, 2000 and H Power as of August 8, 2000 The Power Technology Index has dramatically outperformed the NASDAQ Stock Market in recent months. Over the past month the tech index has outshone the NASDAQ almost threefold, rising 12.4% compared to the NASDAQ's 4.9% rally. Over the past eight weeks the Power Technology Index has surged a very impressive 44.7% against the NASDAQ's 13.9% rise. Year-to-date the NASDAQ remains underwater, down 9.6%, but the Power Technology Index is up 20.9%.

* Electricity generator International Power is close to buying the Rugeley coal-fired power station in Staffordshire from U.S. giant TXU Corp. in a deal worth up to GBP250 million ($355 million). The sale which could be finalised this week would add 1,000 MW of capacity to the 500 MW that IP already owns in the U.K.(The Observer, 6/3).