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Business 2003 P11



CombineNet launches new energy division
CombineNet has announced a decision to launch a new division that targets its Decision-Guidance Systems to meet the specific needs of the energy industry.

Robert Braun joins Loring as a vice president and CFO
Joseph R. Loring & Associates, Inc., has announced that Robert J. Braun, P.E., joined the firm as its new executive vice president and chief financial officer.

Konarka Technologies names Daniel Patrick McGahn as executive vice president and chief marketing officer
Konarka Technologies, Inc. announced it has appointed Daniel Patrick McGahn as the company's executive vice president and chief marketing officer.

Reliant closes sale of Desert Basin plant
Reliant Resources has completed the sale of its 588-MW Desert Basin plant in Casa Grande, Ariz., to Salt River Project Agricultural Improvement and Power District for $288.5 million.

Xcel Energy receives SEC order on NRG bankruptcy
Xcel Energy announced that it had received the necessary order from the SEC under the Public Utility Holding Company Act regarding the bankruptcy filing of its subsidiary, NRG Energy.

Preliminary status vote shows creditor support for Pacific Gas & Electric Co. reorganization plan
At a status conference held Wednesday, Pacific Gas and Electric Company provided the U.S. Bankruptcy Court with preliminary results of the creditor vote, showing overwhelming support for the plan of reorganization that embodies the terms of the proposed settlement agreement between PG&E and the staff of the California Public Utilities Commission.

Foster Wheeler completes sale of Hudson Falls waste-to-energy facility
Foster Wheeler Ltd. announced it has finalized the sale of its Hudson Falls, New York waste-to-energy facility.

Mirant CFO resigns after less than a year on the job
Mirant on Wednesday announced the resignation of executive vice president and chief financial officer, Harvey A. Wagner. He plans to remain with the company in an interim capacity until a replacement is hired. The company has not said how close it is to naming a successor.

Electric utility index up 14.3 percent in 2003, signaling sector turnaround, EEI reports
The shareholder-owned electric utility sector outperformed the Dow Jones Industrial Average for the first three quarters of 2003, besting the Big Board's total shareholder return by more than a percentage point, the Edison Electric Institute said.

Italy's Hera utility adds to northern interests
Italy's third- largest regional utility by sales, Hera, has won a tender to buy 42 per cent of Agea a utility based in the town of Ferrara, part of a plan to expand its presence in Italy's wealthy north.

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