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To: TheStockFairy who wrote (179808)	7/15/2002 8:08:59 AM
From: KyrosL	Read Replies (1) \| Respond to of 436258

Yes you are right that the bill will stimulate lots of M&A among power producers. But it does not necessarily imply crash and burn down the road. I suspect most of the M&A will be done for stock. Stocks of IPPs for instance have crashed, while most regulated utilities are holding up relatively well. So IPP stockholders will be grateful for any takeover offer cash or stock. This means that these M&As may not necessarily result in weakened balance sheets. Also, the urge to overbuild power plants, which has waned considerably after Enron and the IPP debacle, will wane even further, since utilities will be able to buy a lot cheaper than built. Result: in a few years power prices will again be hitting record highs. IMO Kyros