Print and put in my inbox.
 -----Original Message-----
From: 	Belden, Tim  
Sent:	Monday, March 05, 2001 8:22 AM
To:	Lavorato, John; Zufferli, John; Davies, Derek
Subject:	Capitol Alert: A winner found north of border: Canadian firm cashes in on California ills

here is a good article on powerex.
---------------------- Forwarded by Tim Belden/HOU/ECT on 03/05/2001 05:23 AM ---------------------------
   
 	Enron Capital & Trade Resources Corp.  From:  steve hall <steve.c.hall@enron.com>                           03/04/2001 11:23 AM	
		


To:	Tim Belden <tbelden@enron.com>
cc:	 
Subject:	Capitol Alert: A winner found north of border: Canadian firm cashes in on California ills


News from sacbee.com 

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Copyright ? The Sacramento Bee  

A winner found north of border: Canadian firm cashes in on California ills

By Dale Kasler
Bee Staff Writer
(Published March 4, 2001)

VANCOUVER, British Columbia  --  The room doesn't look like much: a bank of computer screens flickering quietly, a group of youthful-looking employees swappping jokes or finishing odd chores. The only noteworthy feature is the small electronic tote board in the middle of the room flashing the going rate in U.S. dollars  --  $175 to $200 a megawatt hour  --  for electricity in the Western United States.

Perched on the 14th floor of a downtown Vancouver office tower, the room is the nerve center of a phenomenally successful energy trading empire, a company that's raked in hundreds of millions of dollars by selling electricity to California and neighboring states in recent months.

The company is Powerex Corp., the wholesale trading arm of British Columbia's government-owned electric utility, BC Hydro. Thanks to Powerex's adroit, well-timed buying and selling of electricity, BC Hydro's profits have nearly tripled in the past nine months to about $862 million in U.S. dollars, from $303 million a year earlier.



You can see the rest of this story at: http://www.capitolalert.com/news/capalert01_20010304.html  

Copyright ? The Sacramento Bee 





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