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Bonds Issue Date Maturity Issuer Amount ($ mil) Offer Price Type of Security Coupon (%) Spread to Benchmark Moody's S&P Bookrunner(s) 11/6/02 11/1/32 Entergy Arkansas 100 100 Fst Mtg Bonds 6 87 Aaa AAA Morgan Stanley/Salomon 11/11/02 11/11/17 Guangdong Nuclear Power 482.8 100 Fxd/Straight Bd 4.5 - NR NR China Devl Bank 11/12/02 11/15/32 Idaho Power 100 99.456 Fst Mtg Bonds 6 125 A2 A Bank One 11/12/02 11/14/12 Idaho Power 100 98.948 Fst Mtg Bonds 4.75 105 A2 A Bank One 11/12/02 11/20/07 Tenaga Nasional 350 100 Exchangeable Bd 2.625 - Baa3 BBB JPMorgan/Commerce Intl 11/13/02 11/15/07 Energy East 100 99.92 Notes 4.375 155 Baa2 BBB Bank One/JPMorgan 11/13/02 11/15/07 Energy East 150 99.477 Notes 5.5 170 Baa2 BBB Bank One/JPMorgan 11/13/02 11/26/12 GIE Suez Alliance 303.1 99.425 MTNs 5.5 - A2 A- CDC 11/14/02 11/21/07 BG Energy Capital 50 100 Float Rate Nts Floats - NR NR Salomon 11/15/02 11/30/12 Duke Energy Corp 400 99.68 Notes 5.625 160 A1 A BofA/JPMorgan) 11/15/02 11/21/09 Envestra Victoria 98.5 100 Float Rate Nts Floats 65 Aaa AAA Macquarie/Commerz/ANZ 11/15/02 11/15/12 Georgia Power (Southern Co) 200 99.699 Notes 5.125 - A2 A Barclays Capital 11/15/02 12/1/07 TECO Energy 380 92.684 Senior Notes 10.5 945 Baa2 BBB- CSFB 11/18/02 11/1/32 Entergy Mississippi(Entergy) 100 100 Fst Mtg Bonds 7.25 237 Baa1 BBB+ Salomon/Wachovia 11/19/02 2/2/05 EnBW International Finance B.V 151.4 99.989 MTNs Floats - A2 A+ SG 11/19/02 12/31/32 Indiana Michigan Power 150 100 Senior Notes 6 116 Baa2 BBB+ Merrill/Salomon/UBS 11/19/02 11/1/12 Indiana Michigan Power 100 99.881 Notes 6.375 243 Baa2 BBB+ BNP/UBS 11/19/02 12/1/12 WPS Resources Corp 100 99.197 Notes 5.375 152 Aa3 A AG Edwards 11/20/02 10/15/17 Alabama Power (Southern Co) 100 101.82 Notes 5.5 38 A2 A Goldman 11/20/02 10/15/10 Alabama Power (Southern Co) 100 99.715 Notes 4.7 67 A2 A Goldman M&A Date Announced Target Target Country Acquiror Acquiror Country Deal Value ($mil) 11/4/02 El Paso Merchant Energy Co-213 U.S. Brush Power U.S. - 11/5/02 Wolverine Power U.S. Synex Energy Resources Canada 1 11/5/02 Amga Italy Genoa Regional Authority Italy - 11/5/02 PG&E National Energy Corp-474 U.S. Investor Group U.S. - 11/5/02 Sea Breeze Energy Canada International Payment Services U.S. - 11/6/02 Wisconsin Energy-Conn Plant(2) U.S. Public Svc Enterprise Grp Inc U.S. 220 11/7/02 Vivendi Environnement France EdF France 387.771 11/7/02 Cambridge Gas & Electricity U.K. Scottish & Southern Energy U.K. 6.016 11/8/02 Viking Gas Transmission Co U.S. Northern Border Partners U.S. 152 11/8/02 Heartlands Power U.K. Rolls-Royce Power Ventures Ltd U.K. - 11/8/02 Iberdrola-High Voltage Power Spain REDESA Spain - 11/11/02 GAMESA-Wind Farms Spain Electrabel Belgium 324.992 11/12/02 Interpower Italy Investor Group Italy 884.925 11/14/02 Rough Gas U.K. Centrica U.K. 483.117 11/14/02 Enagas Spain Undisclosed Acquiror Unknown 77.955 Source: Thomson Financial Securities Data Company. For more information, call Rich Peterson at (973) 645-9701.

The lead arrangers of Tractebel's pending $1.6 billion multi-loan project financing are reportedly looking to sweeten the deal's terms following a lukewarm response from prospective participants.

DTE Energy is on the lookout for coal-fired power plants, gas assets and biomass landfill projects next year and has established a $450 million war chest to fund the effort. John Austerberry, a company spokesman, says DTE is opening its coffers to exploit the low asset valuations plaguing the energy market. He says that if DTE does not execute any deals, it will either return the excess cash to shareholders or use it to reduce its $6.7 billion debt load.

Matt Higham, v.p. in the energy group at CoBank in Denver, has left the firm and joined Republic Financial Corp., a local boutique specializing in structured finance and distrissed asset acquisitions.

The Inter-American Development Bank has tentatively agreed to help fund InterGen's construction of a $700 million, 945 MW natural gas-fired power plant in Sao Paulo, Brazil. An IDB official says the bank has made an initial commitment to pony up non-recourse financing for the Carioba plant, and intends to ink an agreement once InterGen completes due diligence on the plant and finalizes terms of a 15-20 year offtake agreement with Compania Paulista Forca e Luz, a local utility.

Tractebel this week will sign a roughly EUR475 million ($475 million) 13-year project loan with a seven-strong bank club to refinance the construction costs of a Turkish power plant it is building. ABN AMRO, BNP Paribas, Credit Agricole Indosuez, Fortis Capital, ING, Société Générale and Westdeutsche Landesbank are jointly financing the 13-year non-recourse loan and do not plan to syndicate the facility after closure. Financiers involved in the transaction say the deal finances a 763 MW CCGT plant on the outskirts of Ankara, but declined further comment. Calls to Jacques Van Hee, a spokesman at Tractebel, were not returned.

It was the boondoggle that every analyst dreams of: the Edison Electric Institute's annual financial shindig, held last month at the Marriot Desert Springs Resort in Palm Springs, Calif. Under the faultless Californian sky some 1,200 delegates gathered to schmooze, play a few rounds of golf and perhaps forget the sea of troubles afflicting the power industry for a few days before jetting back to their day jobs.

Europe & Middle East

Idaho Power, a utility subsidiary of IDACORP, tapped the first-mortgage bond mart for $200 million recently to take out $100 million of commercial paper and a $100 million inter-company loan from the parent that was run up to cover spiking wholesale power prices in the western U.S. Dennis Gribble, assistant treasurer in Boise, says costs were incurred in contracts entered into last year and in late 2000.

Banc of America Securities laid off Ali Agha, an equity analyst covering independent power producers and a few mining companies, on Nov. 11 and has decided to cease all coverage of the IPP sector. An official at the firm, who confirmed Agha had been let go, says the decision makes sense because of the downturn in the unregulated power sector since the California crisis and the demise of Enron. Agha covered Mirant, Calpine and AES, to name a few.