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Business 2003 P41



Reliant's Erie Boulevard Hydropower receives National Hydropower Association's President's Award
Reliant Energy's Erie Boulevard Hydropower, L.P. is the recipient of the National Hydropower Association's President's Award, presented during the NHA National Conference.

Babcock & Wilcox appoints director of business ethics and compliance
The Babcock & Wilcox Company (B&W) recently named Terry W. Hood as director of Business Ethics and Compliance.

NorthWestern Corp. president and COO resigns
NorthWestern Corp. has announced that president and COO Richard R. Hylland has resigned, effective at the end of business on April 30, 2003. Hylland remains a director of NorthWestern.

Alstom completes sale of small turbines business to Siemens
Alstom announced Thursday that, further to the announcement of 28 April 2003, it has completed the first of two transactions with Siemens AG, being the disposal of the small gas turbines business. The enterprise value of this transaction is €575m ($642m), with net proceeds to Alstom of approximately €525.

Wisconsin Energy reports improved first quarter earnings
Wisconsin Energy Corp. has reported first quarter 2003 net income of $92 million, or $0.79 per share, compared with a loss of $4 million, or $0.04 per share, in the first quarter of 2002.

Southern Union announces 19% increase in third quarter earnings
Southern Union Co. has reported third quarter earnings of $63,899,000 for the three-month period ended March 31, compared with net earnings of $43,788,000 for the same period in 2002.

Duke Energy reports first quarter 2003 results
Duke Energy reported first quarter earnings of 25 cents per share, or $225 million in net income, compared to 48 cents per share, or $382 million net income in first quarter 2002.

OGE Energy Corp. reports first quarter results
OGE Energy Corp. has reported break-even results -- $0.00 a share -- for the three months ended March 31, 2003.

El Paso Corp. announces signing of letter of intent to sell its Eagle Point refinery and related pipeline assets
El Paso Corp. and its subsidiary Coastal Eagle Point Oil Company have signed a letter of intent with Sunoco, Inc. to sell the company's Eagle Point refinery and related pipeline assets for $130 million plus fair market value for crude oil and refined product inventories at time of closing.

Calpine sells interest in 115-MW King City cogeneration power plant
Calpine Corp. has completed the sale to GE Structured Finance of a preferred interest in a subsidiary that leases and operates the 115-MW King City Power Plant for approximately $82 million.

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