Enron’s Skilling foresees breakdown of integrated energy firms

HOUSTON, Texas, Nov. 29, 2000–The president of the largest U.S. gas and power trading company Wednesday criticized independent power producers who are buying natural gas reserves and predicted “the collapse and demise” of large integrated energy companies.

HOUSTON, Texas, Nov. 29, 2000–Robert Harvey, vice chairman Reliant Energy Inc., says the window has closed on market conditions fostering deregulation of the electricity industry.

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Enron’s Skilling foresees breakdown of integrated energy firms

For independent power producers to buy gas reserves “makes no sense at all,” Enron Corp. Pres. Jeffrey Skilling said at the Arthur Andersen annual energy symposium. “They are reintegrating. I don’t get it. Why not hedge it in the market.”

PRINCETON, N.J., Nov. 29, 2000–The North American Electric Reliability Council (NERC) says there will be sufficient electricity resources to meet winter demand despite an expected 3% increase in peak demand compared to last winter.