Message-ID: <19785490.1075862325481.JavaMail.evans@thyme> Date: Sat, 17 Nov 2001 15:21:46 -0800 (PST) From: jeffrey.mcmahon@enron.com To: stanley.horton@enron.com, raymond.bowen@enron.com Subject: RE: NEPCO Mime-Version: 1.0 Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit X-From: McMahon, Jeffrey X-To: Horton, Stanley , Bowen Jr., Raymond X-cc: X-bcc: X-Folder: \SHORTON (Non-Privileged)\Horton, Stanley\Deleted Items X-Origin: Horton-S X-FileName: SHORTON (Non-Privileged).pst I believe it may be a challenge in the near term to get any meaningful credit support. But I really don't much about the business. Will the sureties just support the construction company by itself? Ray, can you have someone look into this. -----Original Message----- From: Horton, Stanley Sent: Fri 11/16/2001 3:40 PM To: McMahon, Jeffrey; Bowen Jr., Raymond Cc: Subject: NEPCO I need some guidance regarding NEPCO. We will try to determine if there is any sale value, however, in the meantime all the projects we are bidding require Enron credit support and guaranties of performance. Without the credit support/guaranties of performance NEPCO is essentially in a wind down status which would be very costly. From a cash and valuation standpoint business as usual is the best approach. Just need some guidance from you. Sorry to bother you with this but I am already getting inquiries. FPL called today since we are bidding on two of their merchant plants. They will probably want to talk with one of you regarding our position.