| First we had de-regulation of electric utilities, and trading of future energy delivery, then we had Enron. Post Enron, we have seen decimation in the companies that remain in the field - the IPPs (Independent Power Producers) and merchant energy companies: DUK, MIR, CPN, ILA, REI, RRI, DYN, WMB, EP, TE, XEL etc. Many of these companies are now selling in the single digits, and have been beset by lowered bond ratings, fears of bankruptcy, and sector hatred. Yet, these companies remain real companies, with generating assets, pipelines, etc. Warren Buffett has been sniffing and buying and others must be on the prowl. The purpose of this thread is to have an intelligent and friendly discussion of the merits of investing in this sector. Any and all opinions on the stocks and sector are welcome; personal attacks are not, and will not be tolerated. prices posted for portfolio are roughly closing prices as of 9/16/02 and will not be adjusted for dividends. On 9/30/02, REI spins off shares of RRI and on 10/1/02 becomes Centerpoint Energy. I will replace REI with the new Centerpoint symbol (CNP) and the price as of 9/30/02. Also, I added a second RRI symbol, reflecting the price as of beginning of trading 10/1/02 at $1.75. larry |
