| ELECTRIC UTILITIES |
| COMPANY |
DSO |
DIO |
DPO |
DWC |
| 2003 |
Change '03 - '02 |
Change '02 - '01 |
2003 |
Change '03 - '02 |
Change '02 - '01 |
2003 |
Change '03 - '02 |
Change '02 - '01 |
2003 |
Change '03 - '02 |
Change '02 - '01 |
| CALPINE CORP |
40 |
+10% |
-22% |
6 |
+9% |
+37% |
38 |
-37% |
-2% |
8 |
N/M |
+63% |
| DUQUESNE LIGHT HOLDINGS |
46 |
-3% |
-12% |
7 |
+2% |
+9% |
45 |
+12% |
+14% |
8 |
-43% |
-43% |
| KENTUCKY POWER |
9 |
+77% |
-60% |
5 |
+44% |
-27% |
4 |
-24% |
-47% |
10 |
+207% |
-56% |
| XCEL ENERGY |
30 |
-18% |
+29% |
17 |
-34% |
+51% |
36 |
-32% |
+60% |
11 |
+19% |
-25% |
| ALLIANT ENERGY CORP |
30 |
+12% |
-3% |
18 |
+4% |
-22% |
36 |
-10% |
+24% |
12 |
+214% |
-78% |
| NORTHEAST UTILITIES |
50 |
-20% |
+42% |
9 |
+10% |
+46% |
46 |
-14% |
+51% |
13 |
-25% |
+20% |
| AVISTA |
104 |
-13% |
+407% |
7 |
-11% |
+521% |
97 |
-24% |
+468% |
14 |
N/M |
-64% |
| CONSOLIDATED EDISON |
40 |
+35% |
+26% |
9 |
+10% |
+1% |
34 |
-15% |
+57% |
15 |
-988% |
-127% |
| AES CORP |
53 |
+0% |
-16% |
16 |
+0% |
-34% |
53 |
+10% |
+50% |
16 |
-23% |
-63% |
| TECO ENERGY |
37 |
-35% |
+20% |
23 |
-21% |
+22% |
42 |
-19% |
+40% |
18 |
-47% |
+1% |
| RELIANT ENERGY |
27 |
-45% |
+307% |
9 |
-11% |
+479% |
17 |
-49% |
+235% |
18 |
-25% |
N/M |
| FIRSTENERGY |
30 |
-14% |
-29% |
12 |
-3% |
-29% |
22 |
-22% |
-14% |
21 |
+4% |
-43% |
| HAWAIIAN ELECTRIC INDUSTRIES |
38 |
-1% |
+12% |
10 |
-7% |
+16% |
27 |
-8% |
+17% |
22 |
+6% |
+8% |
| EXELON |
52 |
+27% |
+4% |
12 |
+6% |
-49% |
42 |
+81% |
-60% |
22 |
-25% |
N/M |
| SEMPRA ENERGY |
53 |
+15% |
+52% |
7 |
-16% |
-38% |
38 |
-10% |
+32% |
22 |
+85% |
+5% |
| WPS RESOURCES |
50 |
-8% |
+61% |
15 |
-7% |
+15% |
43 |
-30% |
+35% |
22 |
+146% |
+311% |
| GREAT PLAINS ENERGY |
41 |
+4% |
+4% |
13 |
-5% |
-22% |
32 |
-6% |
-21% |
22 |
+15% |
+50% |
| NORTHWESTERN |
38 |
-27% |
+57% |
9 |
-41% |
+74% |
24 |
+29% |
-18% |
23 |
-52% |
+153% |
| PINNACLE WEST CAPITAL |
46 |
-11% |
+76% |
16 |
+27% |
+46% |
38 |
-23% |
+128% |
24 |
+59% |
-8% |
| FLORIDA POWER & LIGHT |
28 |
+12% |
-7% |
16 |
-10% |
+33% |
19 |
+5% |
-8% |
24 |
+2% |
+21% |
| NSTAR |
44 |
-5% |
-16% |
10 |
+27% |
+29% |
28 |
-9% |
+29% |
26 |
+11% |
-38% |
| EDISON INTERNATIONAL |
48 |
-2% |
+22% |
10 |
-7% |
+6% |
33 |
+19% |
-19% |
26 |
-20% |
+97% |
| PNM RESOURCES |
38 |
-4% |
+71% |
10 |
-12% |
+105% |
22 |
-29% |
+63% |
27 |
+30% |
+107% |
| MIDAMERICAN ENERGY HOLDINGS |
41 |
-21% |
+117% |
8 |
-19% |
+25% |
21 |
-38% |
+77% |
27 |
-0% |
+123% |
| LOUISVILLE GAS & ELECTRIC |
28 |
+16% |
-22% |
32 |
+3% |
+23% |
31 |
-29% |
-20% |
29 |
+150% |
N/M |
| CONSTELLATION ENERGY GROUP |
59 |
-39% |
-2% |
15 |
-44% |
-36% |
44 |
-40% |
+2% |
30 |
-40% |
-27% |
| OGE ENERGY |
37 |
-7% |
+71% |
20 |
+17% |
+29% |
27 |
-12% |
+75% |
31 |
+15% |
+39% |
| WESTAR ENERGY |
20 |
+7% |
-20% |
34 |
+41% |
+55% |
24 |
+13% |
-12% |
31 |
+39% |
+45% |
| JERSEY CENTRAL POWER & LIGHT |
49 |
+25% |
-2% |
0 |
+82% |
-11% |
16 |
-2% |
+6% |
33 |
+46% |
-8% |
| TEXAS GENCO HOLDINGS |
15 |
-14% |
+324% |
31 |
-16% |
+92% |
13 |
+21% |
+2% |
33 |
-24% |
N/M |
| AMERICAN ELECTRIC POWER |
43 |
-2% |
-19% |
25 |
-15% |
+2% |
34 |
-34% |
-20% |
34 |
+58% |
+19% |
| ENTERGY |
40 |
+5% |
+20% |
26 |
-4% |
+57% |
32 |
-16% |
+67% |
34 |
+25% |
+4% |
| ATLANTIC CITY ELECTRIC |
50 |
-12% |
+5% |
10 |
+169% |
+46% |
24 |
+19% |
+5% |
35 |
-10% |
+7% |
| PEPCO HOLDINGS |
57 |
-2% |
-9% |
14 |
+6% |
+121% |
35 |
+5% |
-7% |
36 |
-6% |
+12% |
| COLUMBUS SOUTHERN POWER |
37 |
-16% |
-19% |
15 |
-49% |
+1635% |
15 |
-71% |
-20% |
37 |
+69% |
N/M |
| UNISOURCE ENERGY |
41 |
+24% |
+8% |
22 |
+10% |
+75% |
25 |
+19% |
-2% |
38 |
+19% |
+55% |
| ALLEGHENY ENERGY |
66 |
+56% |
-18% |
14 |
-15% |
+32% |
42 |
+216% |
-63% |
39 |
-16% |
+57% |
| MONONGAHELA POWER |
66 |
+54% |
-23% |
14 |
-37% |
+62% |
42 |
+68% |
-18% |
39 |
-6% |
+5% |
| WEST PENN POWER |
43 |
-0% |
-16% |
5 |
-3% |
-13% |
10 |
-10% |
-3% |
39 |
+2% |
-19% |
| ARIZONA PUBLIC SERVICE |
44 |
-25% |
+60% |
19 |
+0% |
+58% |
23 |
+11% |
+89% |
40 |
-30% |
+51% |
| FPL GROUP |
45 |
+60% |
+3% |
17 |
-12% |
+31% |
21 |
+2% |
-1% |
42 |
+51% |
+26% |
| SOUTH CAROLINA ELECTRIC & GAS |
47 |
-11% |
+18% |
18 |
-27% |
+13% |
23 |
-21% |
+36% |
42 |
-13% |
+7% |
| AMEREN |
43 |
+38% |
-30% |
39 |
+62% |
+11% |
38 |
+20% |
-27% |
44 |
+86% |
+5% |
| SONOCO PRODUCTS |
42 |
-3% |
+2% |
33 |
+1% |
-2% |
32 |
+468% |
+21% |
44 |
-38% |
-1% |
| ALLETE |
91 |
-2% |
+19% |
9 |
-4% |
+14% |
55 |
+12% |
-14% |
45 |
-16% |
+83% |
| SCANA |
55 |
-8% |
+34% |
23 |
-22% |
+17% |
33 |
-27% |
+54% |
45 |
+1% |
+9% |
| PPL |
59 |
-5% |
+68% |
17 |
+3% |
+2% |
30 |
-9% |
-8% |
45 |
+1% |
+164% |
| ENTERGY ARKANSAS |
47 |
+166% |
+9% |
20 |
-4% |
+27% |
21 |
-25% |
+58% |
46 |
N/M |
-30% |
| OHIO POWER |
36 |
-12% |
+570% |
28 |
-7% |
+477% |
17 |
-42% |
+276% |
47 |
+12% |
N/M |
| ENERGY EAST |
60 |
-11% |
+23% |
14 |
+13% |
+16% |
27 |
-18% |
+51% |
47 |
+0% |
+7% |
| DYNEGY |
64 |
-65% |
+456% |
18 |
+13% |
+359% |
33 |
-68% |
+243% |
48 |
-49% |
N/M |
| KEYSPAN |
77 |
-18% |
+34% |
32 |
+36% |
-3% |
60 |
-7% |
+8% |
49 |
-7% |
+53% |
| MDU RESOURCES GROUP |
56 |
-5% |
+25% |
18 |
+6% |
+7% |
23 |
-2% |
+31% |
50 |
-3% |
+16% |
| INDIANA MICHIGAN POWER |
44 |
+861% |
-58% |
32 |
+248% |
-12% |
23 |
+127% |
-49% |
52 |
N/M |
N/M |
| APPALACHIAN POWER |
57 |
+31% |
-19% |
21 |
-27% |
+779% |
26 |
-49% |
-20% |
53 |
N/M |
N/M |
| VIRGINIA ELECTRIC & POWER |
106 |
-18% |
+58% |
33 |
+2% |
+20% |
86 |
-26% |
+56% |
53 |
+19% |
+32% |
| SOUTHERN |
48 |
-9% |
+28% |
32 |
+10% |
-15% |
23 |
-33% |
+12% |
57 |
+21% |
+6% |
| CLEVELAND ELECTRIC ILLUMINATING |
50 |
+39% |
+6% |
11 |
-4% |
+31% |
2 |
-46% |
-85% |
59 |
+34% |
+95% |
| FLORIDA POWER |
29 |
-2% |
+4% |
50 |
+79% |
+31% |
19 |
+6% |
+8% |
61 |
+52% |
+20% |
| NISOURCE |
48 |
-18% |
+63% |
43 |
+10% |
+65% |
29 |
-21% |
+56% |
61 |
+1% |
+68% |
| WISCONSIN ENERGY |
43 |
-9% |
+16% |
46 |
+4% |
+11% |
27 |
-13% |
+8% |
62 |
+3% |
+17% |
| WISCONSIN ENERGY |
43 |
-3% |
-11% |
46 |
+80% |
-13% |
27 |
+83% |
-4% |
62 |
+13% |
-13% |
| DTE ENERGY |
62 |
-5% |
+64% |
33 |
+5% |
+33% |
32 |
-7% |
+8% |
62 |
+2% |
+99% |
| PROGRESS ENERGY |
45 |
+2% |
+8% |
47 |
+17% |
+5% |
29 |
-15% |
+13% |
63 |
+26% |
+3% |
| DOMINION RESOURCES |
118 |
+29% |
+50% |
26 |
+16% |
+14% |
82 |
-1% |
-1% |
63 |
+96% |
N/M |
| VECTREN |
63 |
+16% |
+10% |
21 |
+64% |
+2% |
20 |
-5% |
-19% |
64 |
+38% |
+27% |
| PG&E |
85 |
+27% |
+39% |
4 |
-63% |
+64% |
23 |
+74% |
+4% |
66 |
+1% |
+54% |
| CMS ENERGY |
32 |
+32% |
-54% |
59 |
+128% |
-16% |
20 |
+28% |
-64% |
71 |
+105% |
-14% |
| PUBLIC SERVICE ENTERPRISE |
98 |
+37% |
+54% |
41 |
+51% |
-4% |
66 |
+36% |
+49% |
73 |
+46% |
+19% |
| CONSUMERS ENERGY |
21 |
+4% |
+79% |
70 |
+36% |
-18% |
16 |
-27% |
-15% |
75 |
+52% |
+3% |
| COVANTA ENERGY |
93 |
-9% |
-3% |
0 |
N/M |
N/M |
10 |
+7% |
-27% |
83 |
-11% |
+0% |
| FMC TECHNOLOGIES |
86 |
+24% |
+129% |
45 |
+264% |
+27% |
43 |
+18% |
+101% |
88 |
+95% |
+107% |
| Sector Average |
51 |
+1% |
+32% |
21 |
+4% |
+41% |
34 |
-11% |
+19% |
38 |
N/M |
N/M |