Message-ID: <12625112.1075857677750.JavaMail.evans@thyme> Date: Wed, 16 May 2001 11:41:36 -0700 (PDT) From: gorny@enron.com To: john.lavorato@enron.com Subject: SA Issues Mime-Version: 1.0 Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit X-From: Gorny, Vladimir X-To: Lavorato, John X-cc: X-bcc: X-Folder: \jlavora\Deleted Items X-Origin: Lavorado-J X-FileName: jlavora.pst John, I have made the following suggestions/comments to Remi, pending your agreement. - Brazil VaR looks low ($0.6 MM) - apparently we are using Argentina vol curves instead of Brazil vol curves. - Book a diesel position for 15 days out of the year when we expect Ecogas to exercise their option and cut us. This will be a rather small short position and Remi will not hedge it at this time. - Electrobolt: upon completion of construction (7/01?), treat the power plants similar to Modesto Maranzana and New Albany for management purposes, pending resolution of accounting issues. - Modesto Maranzana positions have been booked (long power and short gas). We will firm-up the P&L in the next few days and book it as well. Vlady.