Message-ID: <21933001.1075857174392.JavaMail.evans@thyme>
Date: Tue, 6 Jun 2000 02:13:00 -0700 (PDT)
From: michelle.parks@enron.com
To: bruce.sukaly@enron.com, benjamin.rogers@enron.com
Subject: Outstanding Pricing for AES Wolf Hollow
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The power option premium pricing was done on 30 MW's, apparently a standard 
product amount. What is the effect on pricing, if any,  for the actual 730 
MW's? Or do we just take 24 of the 30 MW products?
Have we priced the 60/40 split scenario where we can call on the plant 25% of 
the year (effectectively it is a 25 capacity factor), at our option as to 
when we call? We would assume that we'd exercise this in periods/months when 
prices are highest.
For the scenario where the summer hourly power call on-peak is $85 and the 
off-peak summer power call is $25, I came up with a daily, summer-only, 
blended on and off-peak gas call of $7.64/MMBtu. Gas would be at 
index/floating in the winter. The premium for this summer gas call was 
$38,128/month. Bruce, does that seem within the right range?
AES said they need 2 1/2 times more value than the $850,000/month they'd have 
recieved under our initial proposed power premum. Ben is running the model to 
give us a check as to their debt service and FOM costs.

Ben, Bruce, what else do you have outstanding that needs to be run?

Thanks,

Michelle