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To: Winkman777 who wrote (52621)	10/8/1999 9:57:00 AM
From: marc chatman	Read Replies (1) \| Respond to of 95453

<<It's going to be a special day. >> Well, I suppose an uptick would be special. <g> There still aren't many sellers. There are just no significant buyers, and there haven't been with the exception of about an hour Tuesday afternoon.

To: Winkman777 who wrote (52621)	10/8/1999 9:59:00 AM
From: dfloydr	Read Replies (1) \| Respond to of 95453

New Gas Plants in AZ: per the Phoenix paper: some deletions Power plants to sprout in Arizona 2 major facilities planned west of Buckeye By Max Jarman The Arizona Republic Oct. 8, 1999 Giant Duke Energy Corp. has joined a developing power plant fray in the remote Arlington Valley area 15 miles southwest of Buckeye. The $17.6 billion-per-year Charlotte, N.C.-based distributor of electricity and natural gas on Thursday announced plans to build a $250 million natural-gas fired power plant south of Palo Verde Nuclear Generating Station. Duke's 550 megawatt facility will provide power to 140,000 households and will be next door to a $1 billion, 2,120 megawatt plant recently announced by Pinnacle West Capital Corp, Arizona Public Service Co.'s parent company. And, there could be more plants on the way for the area. H. Max Shilstone, manager of Duke's Arlington Valley project, says he understands that there are five to seven other companies considering building plants in the area. .... Like the Pinnacle West plant, Duke Energy's facility would be a merchant plant designed to produce electricity for sale to wholesale custom ers. The combined-cycled gas plant, which employs a gas turbine and secondary steam generator that is powered by emissions from the gas unit, can produce electricity for 30 to 40 percent less than traditional coal-powered plants. In an increasingly competitive market, driven by deregulation in the electricity industry, such plants have an edge over older less efficient facilities. The Duke Plant is the seventh such facility to be announced in Arizona in the past year The $2.62 billion in planned power plant construction is being driven by electricity rates in Arizona and the West that are traditionally higher than other areas of the country. Shilstone explained that the high prices create a demand for the lower cost power produced by the plants proposed by Pinnacle West, Duke Energy and others. What's drawing the companies to the remote Arlington Valley is the availability of large tracts of land with water rights; the natural gas pipeline that comes into the area; and the proximity to the Palo Verde switch yard, which provides direct access to the Western power grid. The remote area also is far enough away from population centers to allow the companies to obtain the necessary air-quality permits. The principal emission of the new natural-gas plants is nitrogen oxide, the catalyst for creating ozone in the atmosphere. The plants emit only negligible amounts of sulfur dioxide, the principal pollutant from coal plants. According to Shilstone, Duke Energy's plant will produce nitrogen dioxide emissions in the three parts per million range. That's considerably less than older gas plants and coal burning facilities, but enough to prohibit such a plant being located near Phoenix where the Environmental Protection Agency prohibits additional sources of nitrogen oxide. Pinnacle West and SRP are able to build closer to population centers because they can trade emission credits from other facilities. Initial estimates indicate the Duke plant will also use up to 6,000 acre-feet of water per year, or enough to irrigate about 1,500 acres of cotton. Construction is scheduled to begin on the Duke plant in the first quarter of 2001, with completion set for late 2003. That's similar to the timetable Pinnacle West announced for the first phase of its facility. .... Max Jarman can be reached at (602) 444-7351 or at max.jarman@pni.com. Copyright 1999, Arizona Central