Message-ID: <5449667.1075852309141.JavaMail.evans@thyme> Date: Thu, 14 Jun 2001 14:26:33 -0700 (PDT) From: j..sturm@enron.com To: rogers.herndon@enron.com Subject: RE: Interesting Intelligence Mime-Version: 1.0 Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit X-From: Sturm, Fletcher J. X-To: Herndon, Rogers X-cc: X-bcc: X-Folder: \FSTURM (Non-Privileged)\Sturm, Fletcher J.\Sent Items X-Origin: STURM-F X-FileName: FSTURM (Non-Privileged).pst Thanks dude...it's all bearish right now as the price is headed lower. Did you see the WSJ from this morning? Check out the summary article on Beige Book. fletch -----Original Message----- From: Herndon, Rogers Sent: Thursday, June 14, 2001 10:26 AM To: Sturm, Fletcher J.; Presto, Kevin M.; Gilbert-smith, Doug; Davis, Mark Dana; Misra, Narsimha; Aucoin, Berney C. Subject: Interesting Intelligence This was an interesting and not surprising piece of info (in red highlights) Executive Summary -CPUC rules that SoCal must pay 15% of debt to QFs (approximately $50 million) -Ruling heightens likelihood of voluntary bankruptcy filing by SoCal -Voluntary filing further heightened by successful ring-fencing by EIX parent -Bankruptcy judge firm in support for QFs 5. GE Looking to Restructure Generating Capacity Financing General Electric is reportedly "deeply concerned" about the stability of financing generating capacity in the US. (GE has over 70% of the gas turbine market.) GE is reportedly trying to keep its margins down and is not raising its prices due to concerns about instability. Sources believe that a very significant percentage of generating capacity financing will have to be restrucured in five years.