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* Brazil will offer plant developers concessions to build and operate some 6,700 MW of hydroelectric plants this year, nearly triple the capacity offered last year. The government, which faces a potential power crunch, will also offer 18 new transmission concessions covering 3,400 miles of lines (Reuters, 1/15).

* Innogy, an U.K. electric utility, said it would book a $370 million exceptional profit this year after restructuring lease arrangements for three power stations. The restructuring enables TXU Europe to purchase the freehold of the three U.K. plants, West Burton, Ironbridge and Rugeley B (Reuters, 1/16).

* Dynegy is prepping to take Southern California Edison and Pacific Gas & Electric to court if they fail to make payments due this week (Associated Press, 1/16).

* Investigators have uncovered a web of corruption within China's state-run power monopoly. Officials said Cha Keming, a former deputy minister of power, has been arrested for taking bribes during power project tenders (Financial Times, 1/16).

Poland has 33,000 MW of installed capacity, making it the largest power market in central and eastern Europe. Coal is the dominant fuel in the electricity industry, accounting for 94% of the country's primary energy production. This is split between hard coal and brown coal (lignite), which provides nearly all of the fuel consumed in Poland's power plants. The remaining electricity comes from thermal generation and hydroelectric generation.

Following is a directory of ongoing generation asset sales. The accuracy of the information, which is derived from many sources, is deemed reliable but cannot be guaranteed. To report new auctions or changes in the status of a sale, please call Will Ainger, managing editor, at (44-20) 7303-1735 or e-mail wainger@euromoneyplc.com.

BONDS Maturity Issue Date Issuer Amount ($ mil) Offer Price Type of Security Coupon (%) Yield (%) Moody's Rating S & P Rating Book Manager(s) 2/6/2008 8/1/2001 EPCOR Utilities - na MTNs - - - - RBC-DOM - 5/1/2001 TXU Electric 923.9 - Debt Sec, Pfd - - Baa1 BBB+ TO-BE-ANNOUNCED 9/1/2008 9/1/2001 Luz del Sur 10.0 100.00 Bonds Serial Serial - - CITICORP-PERU 23/1/2009 11/1/2001 Tractebel Invest International 190.7 100.17 Guaranteed Nts 5.625 5.599 NR NR FORTIS SHARES - 10/1/2001 Dominion Resources 300.0 25.00 Preferred Shs - 8.400 baa1 BBB- MERRILL/MSDW M&A Date Announced Date Effective Target Target Industry Sector Target Country Acquiror Name Acquiror Industry Sector Acquiror Country Value ($mil) 01/04/01 01/04/01 Seas-Gas-Power Plants(6) Electric, Gas, and Water Distribution Denmark Sydkraft Danmark Electric, Gas, and Water Distribution Denmark - 01/04/01 - Southern Energy Phil (Southern) Electric, Gas, and Water Distribution Philippines Keppel FELS Energy Oil and Gas; Petroleum Refining Singapore 164.0 01/05/01 - Electro Norte Oeste,Electro Electric, Gas, and Water Distribution Peru JORBSA Investment & Commodity Firms, Dealers,Exchanges Peru - 01/08/01 - Merrill Lynch-Global Energy Electric, Gas, and Water Distribution United States Allegheny Energy Electric, Gas, and Water Distribution United States 490.0 01/08/01 - Van Leeuwen Pipe & Tube Electric, Gas, and Water Distribution United States Wilson Industries Oil and Gas; Petroleum Refining United States - 01/09/01 01/09/01 Orton Utility Supply Electric, Gas, and Water Distribution United States WESCO International Construction Firms United States - 01/10/01 01/10/01 Sydkraft Electric, Gas, and Water Distribution Sweden E.On Energie Electric, Gas, and Water Distribution Germany 254.0 Thomson Financial Securities Data Company. For more information, call Rich Peterson at (973) 645-9701.

Following is a directory of ongoing generation asset sales. The accuracy of the information, which is derived from many sources, is deemed reliable but cannot be guaranteed. To report new auctions or changes in the status of a sale, please call Will Ainger, managing editor, at (44-20) 7303-1735 or e-mail wainger@euromoneyplc.com. Seller Plants Location MW Plant Type Advisor Status Ahlstrom Development Mt. Posos Calif. 8.5 Coal N/A . . Ace Co-generation Calif. 5 Coal .. .. . Colver Pa. 29 Coal .. .. . Panther Creek Pa. 40 Coal .. .. . Gilberton Pa. 8 Coal .. .. American Electric Power/Central and Southwest Corp. Northeastern units 3 & 4 Okla. 300 Coal N/A Reviewing sale strategies. . Frontera Texas 250 Natural gas .. .. . Lon C. Hill Texas 546 Gas .. .. . Nueces Bay Texas 559 Gas .. .. . Ennis S. Joslin Texas 249 Gas .. .. CMS Energy Loy Yang Melbourne, Australia 2000 Coal Not Chosen Announced intention to sell. Denton Municipal Electric Spencer Station Texas 176 Natural gas Navigant Consulting Re-evaluating final bids. . Gibbons Creek Texas 98.4 Coal. .. .. . Ray Roberts Texas 1.2 Hydro .. .. . Lewisville Texas 2.1 Hydro .. .. Fortum Brigg U.K. 240 Gas BNP Paribas Preparing information memo. . South Humber U.K. 1,240 Gas .. .. .. Grangemouth*** U.K. 130 Gas .. .. .. Edenderry Ireland 120 Peat .. .. Independent Energy Various U.K. 130 N/A KPMG KPMG is handling the asset sale after Independent Energy went into receivership Nevada Power/Sierra Pacific All plants Nev. 663 Gas & Oil CSFB & Navigant Consulting First bids due in April. Sale expected by early 2001. Niagara Mohawk Power Nine Mile Point 1 N.Y. 1,614 Nuclear N/A Awaiting bids. .. Nine Mile Point 2 N.Y. 1,140 Nuclear N/A North Atlantic Energy Seabrook* N.H. 408 Nuclear N/A Must by sold by Dec. 2003. Ontario Power Generation Pickering Ontario 2,000 Nuclear Salomon Smith Barney Leased Bruce to British Energy. .. Darlington Ontario 3,600 Nuclear .. Sale of other plants has been put on hold. Ontario Power Generation Bruce Ontario 3,200 Nuclear . .. . .. Lennox Ontario 2,140 Oil, gas Merrill Lynch & Scotia McLead .. Lakeview Ontario 1,140 Coal .. .. Pacific Gas & Electric 68 Plants Calif. 3,800 Hydro Morgan Stanley Dean Witter Awaiting PUC approval. Expect sale to close by July 2001. DPL All plants Ohio. 3,500 N/A Morgan Stanley Public Service Co. of New Hampshire (Northeast Utilities) Merrimack N.H. 475.8 Coal J.P. Morgan Subject to approval for rate settlement by PUC and state legislature. . Newington N.H. 415 Oil/gas . . . Schiller N.H. 146.6 Oil/gas . . . Lost Nation N.H. 19.1 Diesel . . . Merrimack N.H. 42.2 Diesel . . Public Service Co. of New Hampshire (Northeast Utilities) Schiller N.H. 18 Diesel . . . White Lake N.H. 23 Diesel . . . Amoskeag N.H. 17.5 Hydro . . . Ayers Island N.H. 9.1 Hydro . . . Canaan Vt. 1.1 Hydro . . . Eastman Falls N.H. 6.5 Hydro . . . Garvins Falls N.H. 12.1 Hydro . . . Gorham N.H. 2.1 Hydro . . . Hooksett N.H. 1.95 Hydro . . . Jackman N.H. 3.55 Hydro . . . Smith N.H. 14.2 Hydro . . ScottishPower Hazelwood Victoria, Australia 1,600 Coal CSFB Final bids due this summer. TXU Lake Creek Texas 323 Gas Merrill Lynch . Tradinghouse Texas 1,340 . . . River Crest Texas 110 . . . Mountain Creek Texas 893 . . . Parkdale Texas 327 . . . North Main Texas 123 . . * North Atlantic Energy owns 34.8% of Seabrook *** Fortum owns 75% of Grangemouth. Mitsubishi owns the remainder. **** GPU owns 50% of each plant, via Prime Energy Ltd Partnership. Financial partners, such as insurance companies, own the remainder.

The Power Technology Index has felt the downward pressure of the overall market and already fallen sharply this year, as well as over the past four and eight week periods. It outperformed the broader Nasdaq Stock Market over the past four weeks, declining 5.6% compared to the Nasdaq's 13% loss. However, over the past eight weeks the Power Technology Index has plummeted 33.7% compared to the Nasdaq's 20.9% fall. So far in 2001, the Power Technology Index has lost 6% against the Nasdaq's 3% fall. FuelCell Energy has suffered the worst losses so far this year falling 27.1%. The best performer has been Plug Power. It has gained 5.5% in 2001.

Following is a directory of ongoing generation asset sales. The accuracy of the information, which is derived from many sources, is deemed reliable but cannot be guaranteed. To report new auctions or changes in the status of a sale, please call Will Ainger, managing editor, at (44-20) 7303-1735 or e-mail wainger@euromoneyplc.com. Seller Plants Location MW Plant Type Advisor Status Ahlstrom Development Mt. Posos Calif. 8.5 Coal N/A Ace Co-generation Calif. 5 Coal Colver Pa. 29 Coal Panther Creek Pa. 40 Coal Gilberton Pa. 8 Coal American Electric Power/ Northeastern units 3 & 4 Okla. 300 Coal N/A Reviewing sale strategies. Central and Southwest Corp. Frontera Texas 250 Natural gas Lon C. Hill Texas 546 Gas Nueces Bay Texas 559 Gas Ennis S. Joslin Texas 249 Gas CMS Energy Loy Yang Melbourne, Australia 2000 Coal Not Chosen Announced intention to sell. Denton Municipal Electric Spencer Station Texas 176 Natural gas Navigant Consulting Re-evaluating final bids. Gibbons Creek Texas 98.4 Coal. Ray Roberts Texas 1.2 Hydro Lewisville Texas 2.1 Hydro Fortum Brigg U.K. 240 Gas BNP Paribas Preparing information memo. South Humber U.K. 1,240 Gas Grangemouth*** U.K. 130 Gas Edenderry Ireland 120 Peat GPU**** Selkirk N.Y. 350 Gas Salomon Smith Barney Soliciting bids, would like to conclude sales by Sept. Mid-Georgia Ga. 300 Gas Lake Fla. 110 Gas Pasco Fla. 110 Gas Onondaga N.Y. 80 Gas Marcal N.J. 65 Gas Independent Energy Various U.K. 130 N/A KPMG KPMG is handling the asset sale after Independent Energy went into receivership Nevada Power/ All plants Nev. 663 Gas & Oil CSFB & First bids due in April. Sierra Pacific Navigant Consulting Sale expected by early 2001. Niagara Mohawk Power Nine Mile Point 1 N.Y. 1,614 Nuclear N/A Awaiting bids. Nine Mile Point 2 N.Y. 1,140 Nuclear N/A North Atlantic Energy Seabrook* N.H. 408 Nuclear N/A Must by sold by Dec. 2003. Ontario Power Generation Pickering Ontario 2,000 Nuclear Salomon Smith Barney Leased Bruce to British Energy. Darlington Ontario 3,600 Nuclear Sale of other plants has been put on hold. Ontario Power Generation Bruce Ontario 3,200 Nuclear Lennox Ontario 2,140 Oil, gas Merrill Lynch & Lakeview Ontario 1,140 Coal Scotia McLead Pacific Gas & Electric 68 Plants Calif. 3,800 Hydro Morgan Stanley Awaiting PUC approval. Expect Dean Witter sale to close by July 2001. DPL All plants Ohio. 3,500 N/A Morgan Stanley Public Service Co. of New Merrimack N.H. 475.8 Coal J.P. Morgan Subject to approval for rate settlement by Hampshire (Northeast Utilities) Newington N.H. 415 Oil/gas PUC and state legislature. Schiller N.H. 146.6 Oil/gas Lost Nation N.H. 19.1 Diesel Merrimack N.H. 42.2 Diesel Public Service Co. of New Schiller N.H. 18 Diesel Hampshire (Northeast Utilities) White Lake N.H. 23 Diesel Amoskeag N.H. 17.5 Hydro Ayers Island N.H. 9.1 Hydro Canaan Vt. 1.1 Hydro Eastman Falls N.H. 6.5 Hydro Garvins Falls N.H. 12.1 Hydro Gorham N.H. 2.1 Hydro Hooksett N.H. 1.95 Hydro Jackman N.H. 3.55 Hydro Smith N.H. 14.2 Hydro ScottishPower Hazelwood Victoria, Australia 1,600 Coal CSFB Final bids due this summer. TXU Lake Creek Texas 323 Gas Merrill Lynch Tradinghouse Texas 1,340 River Crest Texas 110 Mountain Creek Texas 893 Parkdale Texas 327 North Main Texas 123 * North Atlantic Energy owns 34.8% of Seabrook *** Fortum owns 75% of Grangemouth. Mitsubishi owns the remainder. **** GPU owns 50% of each plant, via Prime Energy Ltd Partnership. Financial partners, such as insurance companies, own the remainder.