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Business 2002 P54



Williams resolves major issues related to debt of former subsidiary
Williams has announced a significant step toward resolving major issues related to certain financial obligations of its former telecommunications subsidiary.

Cirro Corp. forms alliance with Aquila Inc.
Cirro Corp.™ has a new relationship with wholesale energy merchant Aquila Inc. that will help Cirro's buying power to purchase electricity from energy suppliers for Texas customers.

Kingsley to lead Exelon Generation as CEO; Skolds named Chief Nuclear Officer of Exelon Nuclear
Oliver D. Kingsley Jr. was recently appointed President and Chief Executive Officer of Exelon Generation, by Exelon President John W. Rowe.

Williams expects restructuring of debt obligation to be complete soon
Williams Monday confirmed that ongoing discussions have proceeded favorably with investors concerning $1.4 billion of notes issued by the WCG Note Trust.

SCE borrows $1.8 billion to pay creditors
Southern California Edison has obtained $1.8 billion in secured financing, allowing them to pay off past-due debt and purchased power obligations.

Steve Wright sworn in as BPA administrator
Steve Wright officially became the 13th administrator of the BPA Friday morning after U.S. District Court Judge Anna Brown administered the oath of office.

Calpine CEO exercises option to cash in shares
Calpine Corp. announced that Chairman and CEO Peter Cartwright is exercising his Calpine options, which otherwise would have expired on December 31, 2002.

Moody's confirms Williams Companies' ratings, changes outlook to negative
Moody's Investors Service confirmed the ratings of The Williams Companies, Inc. and its subsidiaries and changed the outlook to negative.

Utilities jump on the financial services bandwagon, study finds
While utilities and energy providers offer their customers dozens of different ancillary products and services, only a handful are successful on a widespread basis, industry researcher Chartwell Inc. reports.

Calpine regains ground after S&P retracts warning
Calpine stock improved Tuesday after the ratings agency Standard & Poor's retracted a warning.

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