I have been looking up some info on the internet and the CVT solenoid is also called the Variable Camshaft Timing System.
I found a message from someone that has the same car as mine 1998 Contour with the 2.0 L V-Tec engine. Same thing happened with losing power and it turned out to be the VCT solenoid.
I found a very interesting thing from something called Tech tips. The link is below. It is about the VCT solenoid and what it does. Appears Ford came out with this in place of the EGR valve in 1998.
http://www.asashop.org/autoinc/july2002/techtips.cfm