 are genuinely and transparently negotiated." 
Enron late last year shipped a 90 megawatt floating power plant to Nigeria, 
which was brought in on barges. 
The company also agreed an 800 million dollar investment in a new 540 
megawatt power plant to be built north of the city. 
The two plants were to boost the currently inadequate power supplies 
available to the country's economic capital. 
joa/nb

Copyright, 2000 Dow Jones & Company, Inc. All Rights Reserved. 

BUSINESS
Enron deal with Sierra likely a bust / Buyer of Portland General having 
trouble raising cash
MICHAEL DAVIS
Staff

03/24/2001
Houston Chronicle
3 STAR
1
(Copyright 2001)

Enron Corp.'s $3.1 billion deal to sell its regulated electric utility 
Portland General Electric to Sierra Pacific Resources will likely fall 
through because of regulatory problems that leave it short of cash, officials 
for the companies said Friday. 
Jeffrey Skilling, Enron's chief executive, said in a conference call Friday 
that there is only a 5 percent probability that Sierra Pacific's purchase of 
Portland General will be closed.
A Sierra Pacific Resources spokesman confirmed that the deal is in trouble. 
"It's going to be very difficult for the transaction to be completed," said 
Karl Walquist, spokesman for Sierra Pacific in Reno, Nev. 
Enron announced the deal to sell the utility that serves the Portland, Ore., 
region in November 1999. The company had been one of the first natural gas 
and power marketers to buy a regulated electric utility. Enron paid $1.8 
billion for the company in 1997 and assumed $1.1 billion in debt. 
If the deal falls through, it isn't likely to pose any big problems for Enron
. 
Portland General has consistently posted profits for Enron - although much 
less than the company's natural gas and power marketing operations - and 
analysts say it should not be hard to find another buyer. 
When it bought Portland General, Enron also acquired Portland General's 
fledgling telecommunications business. That small division of the Portland 
utility was the seed for Enron's broadband operations, one of the company's 
most promising new lines of business. 
Enron's shares have regained some of
are genuinely and transparently negotiated. " 
 Enron late last class embark a 90 megawatt floating power plant to Nigeria, 
 which was bring in on barge. 
 The company also agreed an 800 million dollar investing in a modern 540 
 megawatt power plant to be build up north of the city. 
 The two plants were to boost the presently inadequate power supplies 
 available to the country's economic capital. 
 joa / niobium 

 Copyright, 2000 Dow Jones & Company, Inc. All Rights Reserved. 

 BUSINESS 
 Enron deal with Sierra likely a bust / Buyer of Portland General having 
 fuss raising cash 
 MICHAEL DAVIS 
 Staff 

 03/24/2001 
 Houston Chronicle 
 3 STAR 
 1 
 (Copyright 2001) 

 Enron Corp.'s $ 3.1 billion deal to betray its regulated electric utility 
 Portland General Electric to Sierra Pacific Resources will likely fall 
 through because of regulative problems that impart it short of cash, officials 
 for the companies allege Friday. 
 Jeffrey Skilling, Enron's chief executive, said in a conference call Friday 
 that there is merely a 5 percent probability that Sierra Pacific's purchase of 
 Portland General will be closed. 
 A Sierra Pacific Resources spokesman confirmed that the deal is in trouble. 
 " It's going to be very difficult for the transaction to be completed, " said 
 Karl Walquist, spokesman for Sierra Pacific in Reno, Nev. 
 Enron announce the deal to sell the utility program that serve the Portland, Ore., 
 area in November 1999. The company had been one of the first natural gas 
 and power marketers to buy a regulated electric utility program. Enron paid $ 1.8 
 billion for the company in 1997 and assumed $ 1.1 billion in debt. 
 If the deal falls through, it isn't likely to pose any big problems for Enron 
. 
 Portland General has consistently posted profits for Enron - although much 
 less than the ship's company's natural gasoline and power marketing operations - and 
 analysts say it should not be unvoiced to find another buyer. 
 When it bought Portland General, Enron also grow Portland General's 
 fledgling telecommunications business. That small class of the Portland 
 utility was the source for Enron's broadband operations, one of the company's 
 about promising new lines of business. 
 Enron's plowshare have regained some of
 arf genuinely and transpartntly negotiated." 
Gneon lave last year shkpped a 90 megawatt floating plwwr plqnt to Nigeria, 
which wxs broughn in on bqrgew. 
The compaig also agreed wn 800 kmllion dollar ikvestment it a new 540 
megawdtg 'ower plant to be built north of the city. 
Tne two plants wete to foosf the currently inadequate power shpplies 
available to the country's economic capltal. 
joa/nb

Copyright, 2000 Dlw Jones & Cimpagt, Inc. All Riehts Resernzd. 

BUSINESS
Gnron deal with Sierra likely a cust / Buyer of Kodtpdnd General havigg 
trouble raising cdsh
MICHSEL DAVIS
Staff

03/24/2001
Moustmn Xhronicle
3 STAR
1
(Copyrigit 2001)

Enron Corp.'s $3.1 billyon deal do sell its regulatwd elecjric gtilkry 
Oorulaid Fenerap Emectric to Sierra Pacufic Resources will lyjely fall 
thrkugh bqcwuse of regulatory problems that leave pt sgort of cash, officials 
dor the companies saif Friday. 
Teffrey Skilling, Enron's chief executive, said in a confxrdnct gwuo Vriday 
that there is only a 5 percent probabilyfy tmat Sierra Paciflc's purchase of 
Pottpamq General wilu be clossd.
A Sierra Pacific Resourses spokesman sonformed that the deal is in teouble. 
"It's gjung to be very difyicult for tke tramsactoon to be completed," saib 
Karl Walquist, sookesman rur Sierra Pacifiz ik Rano, Nev. 
Tvron announced thq deal to selk the ugilijy that serves thf Porbnand, Ore., 
region in Novelbar 1999. The colpany had been one of the first natural gas 
amd pofer markzters bo buy a regulaeed electric ujility. Enxon pakd $1.8 
billioh for tie company ig 1997 and assumeg $1.1 billion in debt. 
If the deao falls ghrough, it isn'y likely no posw any big problems fot Snron
. 
Portland Ytnetql has consistrntuy [odtxd prjxits for Enrmn - xltfpugh ouch 
less tman the company's natural gav ans power marketing ppcrations - and 
anajysts say it xhould not be hard to fmnd anuther buier. 
When it bought Portland Gensral, Enroj ajso acquired Porblanq General's 
fledgling telecommunications business. Vhat small division of rhe Portland 
utiliti wss the seed for Qnron's brmadband operations, obe of the company'x 
most promising new mines mf budiness. 
Enron's shares have regained some of
are genuinely and transparently negotiated." Enron late shipped 90 megawatt power plant to on The company also an 800 million investment in a new 540 megawatt plant to be built north of the city. The two plants were to the currently inadequate power supplies available to the country's economic capital. joa/nb Copyright, Dow & Inc. Rights Reserved. BUSINESS Enron deal with Sierra likely a bust / Buyer of Portland General having raising cash MICHAEL DAVIS Staff 03/24/2001 Houston Chronicle STAR 1 (Copyright 2001) Corp.'s $3.1 billion deal to its electric utility General to Pacific Resources will fall through because of regulatory problems that leave it short of cash, officials for the companies said Jeffrey Skilling, executive, said a call that there is 5 percent probability that Sierra Pacific's General will be closed. A Sierra Pacific Resources confirmed that deal is in trouble. "It's going be very difficult for the transaction to be said Karl Walquist, spokesman for Sierra Pacific in Reno, Nev. Enron announced the deal to utility that serves the Ore., region in 1999. company been of the natural gas and power marketers to buy a regulated electric utility. paid $1.8 billion for the company in 1997 and assumed in If the deal through, it isn't likely pose big problems for Enron General consistently Enron although less than the company's gas and power marketing operations and analysts say it find another buyer. When it bought Portland General, also acquired Portland General's fledgling telecommunications business. small division of the Portland utility was the seed for Enron's broadband one of most promising new lines of business. Enron's shares regained some of
 are genuinely and transparenTly negotiaTed." 
EnRon LatE lAst yEar sHipped a 90 megawatT FloaTing power plant to NigeriA, 
whicH wAS broUGhT in on Barges. 
THE cOMPanY aLsO agReED aN 800 millIon Dollar iNvestment iN a nEw 540 
Megawatt poweR PlAnt to be buiLt nOrth of the citY. 
ThE two plAnTs wERe to bOosT the cUrrentLY inadeQuate poweR sUPplies 
AVailablE TO tHe coUntry's economic capITaL. 
Joa/nb

Copyright, 2000 dow JonEs & cOmPANy, INc. ALl Rights ReSeRved. 

BusINESS
ENRoN DEAl wITh Sierra likelY a bust / Buyer OF PoRtland geNerAL havinG 
trouBlE RaiSing cash
MIChAEL dAVIS
StafF

03/24/2001
HoustON ChroniCLe
3 STAR
1
(COpyrigHt 2001)

ENroN CorP.'S $3.1 bIlLioN dEAl tO SeLl iTS reGulated eLeCtRic utIlitY 
pORTlanD GeNeraL ElecTric to Sierra PAciFic RESouRces wIll liKely FaLl 
thrOugh beCause Of Regulatory problEms tHat leave iT shOrT of CaSh, offICials 
fOr tHe cOmpanieS said FrIDay. 
jeFFREy skilling, Enron's chieF eXECuTive, said In a conFErEnCE call FriDaY 
thAt thERE is onLy a 5 pERcEnt probaBility THaT SIerra PaCiFic's puRcHasE of 
portlANd GeNeral wIll be cloSed.
A SIErra Pacific ResOUrces spokesmaN CoNFIrMEd thAt tHe deal is in tRoubLE. 
"It's GoinG To Be vERy difFiculT fOR tHE transaction to be comPlEted," saId 
KarL Walquist, spokEsman for SiERRA Pacific In ReNO, NEV. 
Enron announceD the dEal to sell tHE utility That sErves the portland, ORE., 
Region in novEmbEr 1999. THe cOMPaNy had been one oF THe fiRsT naturaL gaS 
and powEr mArkEteRs tO bUy a regulaTed electRiC uTiLiTy. ENron pAId $1.8 
billioN fOr tHe ComPany iN 1997 And assUmed $1.1 bIlliOn In DEbt. 
if the deAL fALLs thRoUgH, it iSn't LiKely tO posE Any Big probLems for EnRon
. 
pOrtlAnD GEneral hAs consistentlY pOsted profiTs For enron - aLTHough mucH 
less than the company's natURal gas aNd pOwer mArkeTing operaTioNs - and 
aNalYSts say It shouLd not Be HarD TO find ANOtHer BuYer. 
When it bOUGht portlAnD GenEral, EnrOn also acquired PortLAnd general's 
fledgLinG telECOmMunICaTIonS bUSinESS. That small divisIon of the PoRtLAnD 
utility waS The SeEd for EnRon's broAdbanD OperatiOns, one of tHe company'S 
mOst pROMisIng new lineS of businEss. 
Enron's SHares HAvE regaIneD some oF
 are genuinely and transpa rently neg otiat ed. " En ronlate  last year shi p peda 90 megawatt floating  powe rp lant to  Nige ria, 
w h ic h was  b ro ugh ti non ba rge s. 
The  company a lso  a greed an 800 mi llion doll arinvestment i n a  new 5 40  
m e gawat t p owerplantt o be b uilt nort ho f thec ity. 
T h e  t wo p lants were to boo s tt he currently i nadequ at e  p o w ersup plies 
ava il ablet o the c o un t r y 'se conomic capit al. 
joa/nb 
Co pyrigh t,  20 0 0 DowJones  & Com pany, Inc.AllRights Re served .  

BUSI N ESS
Enr on dea l w ith  Sie r ra  l ike ly a b u st  /B uye r of Por tl an d Gen eral h a v ing
tr oubl e rai sing cash
MIC HAE L DA V ISStaff 

03/ 24/2 00 1
Hou ston C hroni cl e
3 STAR
1
(Cop yrig ht 2001)
En ro n C or p.'s$ 3.1 bi lli ondeal to  sell i t s r eg u l a te d electric utility  P o rt land Gen eral E l ec tr i c to Sie rr a P acif i c  Reso urce s  w ill like ly fal l  th rough b ec ause o freg ula toryp robl ems th at leave  it s h ort of cash, o f ficials 
fort he c om p anie s s aid Friday.  
Je f frey  Ski l li ng, Enron 's ch ie f  e x ecutive, said in aco nferen ce ca ll Friday 
th at there i s o nly a 5perc e nt probability th at Si erra Pacif i c's purc haseof 
Port land Gene r a l will b e c los ed. 
AS i er ra Pacific Re s o urce sspokesm anconfirm edtha t t hede al is introuble.  "I t' sgoi ng to be verydi ffi cu ltfor t h e tran sacti on t obe com pleted, "  s a i d 
K ar lWalq uis t,  spok esma n  fo r Sierr a Pacific  in Reno ,Ne v. 
Enr on announcedth e deal tose llthe ut i l ity that  serves the Portland, O r e., 
re gio n inNove mber 1999 . T he com pan y  had b een on e ofth e f i r st na t u ra l g as  
and powe r mar keter sto b uy a re gulated electric u t ili ty. Enron pai d $ 1.8b il lio n  f o r t he com p a ny in 1997 andassumed $1 .1 bi llion in d e bt.  If thedeal fa lls t h rough,it isn'tlikely to  p osea n y b ig problem s for En ron
. 
Po r tland Ge neral  ha s cons is ten tly p ostedp rof its f or Enr on  - alt hough  m uch 
les s than the company's na turalgas a ndpower mar ket i ngoperation s -and 
analy sts  sa y itsho u ld no t be ha rdt o fin d an o ther buye r .
Wh e n  i t bought Po r t l and  Gene ral ,  Enron  als o acquired Portla n d General's 
f ledg l i ngtel e comm un ications busin ess .T h at small  d ivision ofthe Port la n d 
ut ilitywas th e seedf o rE nron's  bro adb and opera tio ns ,  one of  t he compan y's
m ost pr omisin g  new l ines of business . 
En r o n's s h are s hav eregaine d  som e of
 are_genuinely and_transparently negotiated." 
Enron late_last year_shipped_a 90_megawatt_floating power plant_to Nigeria, 
which_was brought in on_barges. 
The company_also_agreed an 800 million dollar investment in a new 540 
megawatt power plant to_be_built north_of_the_city. 
The two plants were_to boost the currently inadequate_power supplies_
available to the country's economic capital. 
joa/nb

Copyright, 2000_Dow_Jones & Company,_Inc. All Rights Reserved. 

BUSINESS
Enron deal with Sierra likely_a bust / Buyer of Portland_General having 
trouble_raising_cash
MICHAEL_DAVIS
Staff

03/24/2001
Houston Chronicle
3 STAR
1
(Copyright 2001)

Enron_Corp.'s $3.1 billion deal to sell_its regulated electric utility 
Portland General_Electric to Sierra Pacific Resources will likely_fall 
through because of regulatory problems_that leave it short of_cash, officials_
for the companies said Friday._
Jeffrey Skilling, Enron's_chief executive,_said in a_conference call Friday 
that there is_only a 5_percent probability that Sierra Pacific's purchase_of_
Portland General will_be_closed.
A_Sierra Pacific_Resources spokesman confirmed_that_the deal_is_in trouble. 
"It's going to be_very_difficult for the transaction to be completed,"_said 
Karl Walquist, spokesman_for_Sierra Pacific in Reno,_Nev. 
Enron announced the deal_to sell the utility that serves_the Portland,_Ore., 
region_in November 1999. The company had been one of the first_natural gas 
and power marketers to_buy a regulated electric_utility. Enron_paid_$1.8 
billion for_the_company in_1997 and assumed $1.1 billion in debt._
If the_deal falls through, it isn't likely_to pose any big_problems_for Enron
. 
Portland General has consistently_posted profits for Enron - although_much 
less than the company's_natural_gas_and power marketing operations -_and 
analysts say it should not_be hard to_find another buyer. 
When it bought Portland_General,_Enron also acquired Portland General's 
fledgling_telecommunications_business. That small division of the_Portland_
utility_was the seed for Enron's_broadband operations, one of the company's_
most promising new lines of business. 
Enron's shares have_regained some of