Message-ID: <26502911.1075852759534.JavaMail.evans@thyme> Date: Fri, 22 Jun 2001 09:06:21 -0700 (PDT) From: jonathan.mckay@enron.com To: chris.lambie@enron.com Subject: FW: Mime-Version: 1.0 Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit X-From: Mckay, Jonathan X-To: Lambie, Chris X-cc: X-bcc: X-Folder: \JMCKAY1 (Non-Privileged)\Mckay, Jonathan\Sent Items X-Origin: McKay-J X-FileName: JMCKAY1 (Non-Privileged).pst -----Original Message----- From: Beth_Jenkins@fpl.com@ENRON [mailto:IMCEANOTES-Beth+5FJenkins+40fpl+2Ecom+40ENRON@ENRON.com] Sent: Friday, June 22, 2001 8:49 AM To: Mckay, Jonathan Subject: ENRON CHAIRMAN GREETED WITH CREAM PIE IN CALIFORNIA Enron Corp President Jeff Skilling defended his company's role in the California power crisis and got a cream pie in his face for his trouble, reports Reuters. Skilling, speaking at the Commonwealth Club of California, attacked the Golden State's botched deregulation, adding: "People in California are angry, and they should be." The pie thrower was ejected from the meeting. Later, Skilling voiced doubts about FERC's implementation of limited price caps saying they could work against the free market principle and put a damper on investment in new generation the state badly needs. He suggested that a combination of new generating capacity, a more rational regulatory framework and consumer conservation could bring prices down. "This one is easy to fix, and it will be fixed," Skilling concluded. "You'll get supply, you'll get reduction in demand, and prices will collapse." Meanwhile, today's Washington Post reports that Duke Energy has been ordered by FERC to pay millions of dollars in refunds to California, turning down the energy generator's explanation of the high prices it charged in January for wholesale power. Duke was told it should have charged no more than $273 per megawatt hour, while the utility argued that charging nearly $3,900 MWH during short supply periods was alright because it risked not getting paid (Reuters, June 21, Washington Post, pg. E-2, June 22, http://www.washingtonpost.com ).