d) For the twelve months ended December 31, 2003, amount includes approximately $18 million loss on the anticipated sale of 25% interest in Vermillion, a $66 million loss on the anticipated sale of turbines and DETM
charges related to the sale of contracts of $127 million.
DETM made changes to its reporting process in 2002, as soon as industrywide natural gas reporting problems were identified.
In Houston, DETM found no problems with electricity price reporting.
Concurrently, SMUD has agreed to drop its Federal Energy Regulatory Commission complaint against DETM challenging the market-rate pricing of the existing power-supply contracts entered into with DETM during February and March of 2001.
Additionally, this agreement helps resolve concerns for both SMUD and DETM arising from California's energy crisis while ensuring needed supplies of electricity continue to be available to consumers at reasonable prices.
He also reviewed DETM
logs that demonstrated that the full capacity of both units was offered to the ISO on the days in question.
With a peak day of 48,000 million British thermal units under this contract, DETM
views this agreement as a continuation of our innovative, wholesale energy marketing partnerships," said Mark Wetzel, vice president of energy marketing.
This alliance is a strong entry into the residential gas market where DETM
will be providing natural gas for homeowners through United's direct marketing," said Kevin Howell, DETM
senior vice president.
This alliance with DETM
will be an important vehicle in enabling us to both obtain and service new customers in the United States,'' said Paul Woods, President of United.
serves producers, processors, pipelines, local distribution companies (LCDs), municipals, large industrial and commercial customers, and other marketers as well.
began providing complete fuel supply and asset management services to Providence Gas on Oct.
This marks an important step in Duke Energy Trading and Marketing's effort to provide total energy management throughout the nation," said Don Sinclair, president of DETM