Portland General Electric doesn't want to sell electricity anymore.
PGE, a wholly owned subsidiary of Enron, wants to focus on the transmission and distribution of electricity and has...
been consistent with expectations, and the company's liquidity remains strong."
The liquidity consists of $1.3 billion in cash, $3 billion from a 364-day bank facility, and $1 billion from a multi-year facility, totaling $5.3 billion. The company has used $1.5 billion toward a 364-day facility and $400 million toward multi-year letters of credit. At press time, El Paso Corp. says that in 2002 it closed on more than $3.6 billion in asset sales. El Paso expects to complete another approximately $1.4 billion in non-core asset sales by the end of the first quarter and $1 billion during the rest of 2003.
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