Message-ID: <19517710.1075848060253.JavaMail.evans@thyme> Date: Mon, 11 Dec 2000 06:15:00 -0800 (PST) From: jeff.dasovich@enron.com To: skean@enron.com, chris.foster@enron.com, richard.shapiro@enron.com, james.steffes@enron.com, tim.belden@enron.com, john.lavorato@enron.com, david.delainey@enron.com, paul.kaufman@enron.com, susan.mara@enron.com, christopher.calger@enron.com Subject: PG&E's Gas Position Mime-Version: 1.0 Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit X-From: Jeff Dasovich X-To: skean@enron.com, Chris H Foster, Richard Shapiro, James D Steffes, Tim Belden, John J Lavorato, David W Delainey, Paul Kaufman, Susan J Mara, Christopher F Calger X-cc: X-bcc: X-Folder: \Steven_Kean_June2001_3\Notes Folders\California X-Origin: KEAN-S X-FileName: skean.nsf In case folks haven't already heard through other sources, a reliable person told me that PG&E is hedged for core gas requirements: financial--for 45% of core volumes at prices "in the single digits/decatherm" physical--for 15% of core volumes (via storage) at prices "less than the financial hedge" SDG&E is naked. SoCalGas is likely in the same boat as SDG&E, or worse, since they optioned core's storage gas to noncore customers, and, those customers are exercising.