The estimated 2007 payout ratio has risen to 116 per cent because of a distribution rate increase, a stronger Canadian dollar and slower-than-expected business, he said yesterday.

Reliant was forced to cancel a $500-million (U.S.) bond issue on Friday when news first emerged of the round-trip trades, most of which were done with CMS Energy Corp.

Reliant has also entered e-business through a strategic partnership with EpicEdge Inc., another e-business company, to provide ‘online customer service’ for its utility customers.

Reliant had a $96 million loss on its biggest business, power retailing in Texas, after locking in higher fuel costs than it could pass on to customers under an agreement with regulators.

Reliant Energy’s subsidiary, Reliant Resources Inc., reported earnings of $557 million, or $2.01 per diluted share, for the year ended December 31, 2001. This compares to reported earnings of ...