Message-ID: <7530132.1075840729599.JavaMail.evans@thyme> Date: Mon, 4 Dec 2000 07:09:00 -0800 (PST) From: carla.hoffman@enron.com To: tim.belden@enron.com, robert.badeer@enron.com, jeff.richter@enron.com, phillip.platter@enron.com, mike.swerzbin@enron.com, diana.scholtes@enron.com, sean.crandall@enron.com, matt.motley@enron.com, mark.guzman@enron.com, tom.alonso@enron.com, mark.fischer@enron.com, monica.lande@enron.com Subject: DJ CalPX Day-Ahead Prices At $250 Cap For Every Hr - Source Mime-Version: 1.0 Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit X-From: Carla Hoffman X-To: Tim Belden, Robert Badeer, Jeff Richter, Phillip Platter, Mike Swerzbin, Diana Scholtes, Sean Crandall, Matt Motley, Mark Guzman, Tom Alonso, Mark Fischer, Monica Lande X-cc: X-bcc: X-Folder: \mark guzman 6-28-02\Notes Folders\Notes inbox X-Origin: GUZMAN-M X-FileName: mark guzman 6-28-02.nsf ---------------------- Forwarded by Carla Hoffman/PDX/ECT on 12/04/2000 03:18 PM --------------------------- Enron Capital & Trade Resources Corp. From: "Pergher, Gunther" 12/04/2000 12:57 PM To: undisclosed-recipients:; cc: Subject: DJ CalPX Day-Ahead Prices At $250 Cap For Every Hr - Source 20:26 GMT 4 December 2000 *DJ CalPX Day-Ahead Prices At $250 Cap For Every Hr - Source (MORE) Dow Jones Newswires 04-12-00 2026GMT Prices Suggest What ISO Pays - Source LOS ANGELES (Dow Jones)--Monday day-ahead prices into the California Power Exchange hit a state-mandated $250 per megawatt hour price cap for every single hour, the first time that has happened in the history of the CalPX, said a source close to the issue. "Our on-peak prices are at the cap, our off-peak prices are at the cap, our average price is at the cap," the source said. The prices are in line with December balance-of-month forward prices in the Mid Columbia River market electricity hub, which hit $525/MWh, and January forward prices, which hit $475/MWh on Monday. Prices in the CalPX, which operates the state's day-of, day-ahead and block forward electricity market, are likely an indication of the prices the Independent System Operator is paying to secure that out-of-state generation, the CalPX source said. The California ISO, which must ensure the state's grid reliability and operates 75% of the state real-time market, declared a stage-one electrical emergency Monday, meaning operating reserves were below 7%. The ISO said 10,000 MW of power was off line, and issued a call to buy 3,000 MW out of state. It is strange that the CalPX would hit an across-the-board cap in the winter, as opposed to the traditional high-peak summer season, market sources said. The ISO has had an unusual winter, however, having declared an unprecedented five stage-two power emergencies in November due to a large amount of generation off line for planned and unplanned maintenace. -By Jessica Berthold, Dow Jones Newswire; 323-658-3872; jessica.berthold@dowjones.com (END) Dow Jones Newswires 04-12-00 2052GMT G_nther A. Pergher Senior Analyst Dow Jones & Company Inc. Tel. 609.520.7067 Fax. 609.452.3531 The information transmitted is intended only for the person or entity to which it is addressed and may contain confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient is prohibited. If you received this in error, please contact the sender and delete the material from any computer.