Message-ID: <26471606.1075845564504.JavaMail.evans@thyme> Date: Sun, 21 Jan 2001 12:38:00 -0800 (PST) From: john.lavorato@enron.com To: phillip.allen@enron.com Subject: California QFs - Gas Hedging Mime-Version: 1.0 Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit X-From: John J Lavorato X-To: Phillip K Allen X-cc: X-bcc: X-Folder: \John_Lavorato_Oct2001\Notes Folders\Sent X-Origin: LAVORATO-J X-FileName: jlavora.nsf ----- Forwarded by John J Lavorato/Corp/Enron on 01/21/2001 08:38 PM ----- Christopher F Calger@ECT 01/21/2001 04:00 PM To: Barry Tycholiz/NA/Enron@ENRON cc: John J Lavorato/Corp/Enron@Enron Subject: California QFs - Gas Hedging Barry, FYI the California QF's are negotiating a settlement deal with Edison and the state of California which would fix energy payments over five years. Currently the energy payments are indexed to Socal Border because a majority of the Edison QF's buy spot gas. If this settlement happens, the QF's will likely want to buy financial swaps. The Edison gas-fired QF's represent about 500MMCF/Day of gas. Chris