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Bonds Issue Date Maturity Issuer Amount ($ mil) Offer Price Type of Security Coupon (%) Spread to Bench-Mark Moody's S&P Bookrunner(s) 12/3/02 9/1/12 Kinder Morgan 250 101.709 Notes 6.5 205 Baa2 BBB Wachovia 12/4/02 1/8/10 Tractebel Power (AES Corp) 49.8 102 Fxd/Straight Bd 5 - NR NR ING 12/5/02 12/18/07 Termoelectrica 200 100 FRNs Floats - NR B+ JPMorgan 12/5/02 3/20/08 EdP Finance 500.1 99.924 Fxd/Straight Bd 5 - A2 A+ Deutsche Bank/UBS Warburg 12/9/02 12/15/09 Dominion Resources 300 99.553 Senior Notes 5.125 162 Baa1 BBB+ JPMorgan/Wachovia 12/9/02 12/15/32 Dominion Resources 300 99.758 Senior Notes 6.75 182 Baa1 BBB+ JPMorgan/Wachovia 12/9/02 12/20/27 United Utilities 235.9 99.878 MTNs 5.625 - A2 A- BarCap 12/9/02 12/1/12 Wisconsin Public Service Corp 150 99.605 Notes 4.875 90 Aa1 AA- UBS Warburg 12/10/02 12/18/14 EdF 40.5 100 MTNs 1.27 - NR NR BoTM 12/10/02 2/1/13 Florida Power & Light Co 400 100 Notes 4.85 81 Aa3 A JPMorgan/Salomon 12/10/02 2/1/33 Florida Power & Light Co 200 100 Notes 5.85 94 Aa3 A JPMorgan/Salomon 12/10/02 12/13/20 Psalm 200.6 99.457 Fxd/Straight Bd 3.2 - Baa1 NR Nomura 12/10/02 12/13/22 Psalm 299.9 99.645 Fxd/Straight Bd 3.55 - Baa1 NR Nomura 12/3/02 9/1/12 Kinder Morgan Inc 250 101.709 Notes 6.5 205 Baa2 BBB WACHOVIA-SEC 12/4/02 1/8/10 Tractebel Power Inc(AES Corp) 49.8 102 Fxd/Straight Bd 5 - NR NR INGBBB 12/5/02 12/18/07 Termoelectrica 200 100 Float Rate Nts Floats - NR B+ JPM 12/5/02 3/20/08 EDP Finance 500.1 99.924 Fxd/Straight Bd 5 - A2 A+ DEUTSCHE-LONDON/GS(JB)/UBS-WARBURG(JB) M&A Date Announced Date Effective Target Target Advisors Target Country Acquiror Acquiror Advisors Acquiror Country Deal Value ($mil) 11/29/02 - Laem Chabang Power Co - Thailand Sime Darby Eastern JPMorgan Singapore 30.35 12/2/02 - Qingxin Bai Fu Yang Petrol - China Guilin Green Energy - China 3.138 12/2/02 - Zhuhai Huadian Co - China Shenzhen Qinghua Scientific - China - 12/2/02 - Zhuhai Huadian Co - China Beijing Qinghua Scientific - China - 12/3/02 - DTE-Transmission - U.S. Investor Group CIBC U.S. 610 12/4/02 - Florida Public Utilities-Water - U.S. City of Fernandina Beach - U.S. 24.6 12/4/02 - Sichuan Jialing Elec Power - China Lin Feng Group - China - 12/5/02 - Union Fenosa Gas Goldman Sachs Spain ENI Rothschild Italy 438.46 12/5/02 - Connecticut Valley Electric - U.S. Public Service Co of NH - U.S. 29 12/5/02 - Union Fenosa Gas Goldman Sachs Spain ENI Rothschild Italy 438.46 12/6/02 12/6/02 Bonna Sabla(Vivendi Env) - France Investor Group - France - 12/9/02 - Samalayuca Project - Mexico GE Capital Svcs Structured - U.S. - 12/9/02 - Societe Energheia - Italy Azienda Energetica Municipale - Italy - 12/9/02 - Southern Cross Energy - Australia TEC Desert Pty - Australia 6.689 Source: Thomson Financial Securities Data Company. For more information, call Rich Peterson at (973) 645-9701.

Despite economic turmoil and regulatory uncertainty in the region, at least one life insurer, New York Life Insurance Co, is looking for project finance opportunities in Latin America's power markets.Grant Davis, director at its investment arm,New York Life Investment Management, says, "We remain opportunistic about Latin America, specifically in Chile and Mexico, because the markets are open and the regulatory structures are rather stable."

Powergen has delayed plans to mothball some 1.8 GW of U.K. generation capacity. Jonathan Smith, a spokesman at the E.on subsidiary in Coventry, says the utility will continue to operate the 1.3 GW oil-fired Isle of Grain power station and the 450 MW natural gas-run Killingholme plants over the winter to meet peak demand, but will likely mothball the units in the spring.

The arrival of a sharp and unexpected cold snap across much of England early last week has underscored a growing unease among some market watchers that the U.K. is veering toward a California-style power crisis. Yet a flat forward wholesale power curve is driving generators to cut capacity, which could result in further problems next winter, according to market officials.

Westdeutsche Landesbank has added another senior Credit Suisse First Boston staffer to its New York team covering power private placements among other sectors. Manish Taneji joins Monday as a managing director in the syndication and distribution team headed up by Howard Moseson. Moseson confirmed the hire, but declined further comment. Taneji was between posts and could not be reached for comment.

Sempra Energy Trading, the Stamford, Conn.-based energy trading arm of Sempra Energy, has agreed to purchase a portion of the natural gas trading book of CMS Marketing Services & Trading in Houston for approximately $17 million.Doug Kline, director of public relations at Sempra Energy in San Diego, says the purchase "Further strengthens Sempra Energy Trading's natural gas business in the United States." The purchase price is subject to adjustment at closing, which is expected by year-end, he adds. Jeff Holyfield, a CMS spokesman in Jackson, Mich., declined comment.

WPS Resources made a recent $100 million foray into the bond market to lock in fixed interest rates fearing financing costs could start to rise. Joe O'Leary, cfo in Green Bay, Wis., says the 5.375% 10-year senior unsecured notes represent a good price level. While it may be cheaper to issue floating-rate debt just now, there's a strong likelihood that rates will rise, he explains. Some $55 million was used to pay down commercial paper with the remainder earmarked for general corporate purposes.

Abbey National Treasury Services (ANTS), one of the most active participants in the transatlantic and Australian power project finance markets, is pulling the plug on its non-recourse lending business. "We've been shut down," says Derek Gordon, head of project finance in London. "The aim now is to manage an orderly retreat," he adds. The U.K. bank is evaluating how best to unwind its GBP3.25 billion ($5.1 billion) global project loan portfolio. Power and gas deals account for 85% of the book. Matt Young, spokesman in London, says Abbey National is undertaking a far-reaching restructuring of all its operations, but declined to confirm or deny the project business has been closed.

Goldman Sachs has let go Paul Murray, a weather derivatives trader in London, less than a year after he joined the firm from Enron, where he was head of weather derivatives (PFR, 2/11). Murray could not be reached. Calls to Stefan van Riet, an official in Goldman's J. Aron commodity trading division to whom Murray is thought to have reported, were referred to the press office. Calls to Goldman's press office in London were not returned.

The Abu Dhabi Water and Electricity Authority (ADWEA) is considering adding 500 MW of capacity at the 1,350 MW Taweelah A-1 power plant and could launch an international build-own-operate tender process as early as next month. Financiers say the project is an ad hoc addition to an ongoing five-project 8 GW development program, and is aimed at meeting potential capacity shortfalls in the near future.