Message-ID: <27416233.1075863314269.JavaMail.evans@thyme> Date: Fri, 29 Jun 2001 19:18:26 -0700 (PDT) From: craig.dean@enron.com To: bill.williams@enron.com Subject: AQUILLA OPTION AND DEAL ENTRY Mime-Version: 1.0 Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit X-From: Dean, Craig X-To: Williams III, Bill X-cc: X-bcc: X-Folder: \Williams III, Bill (Non-Privileged)\Bill Williams III X-Origin: Williams-B X-FileName: Williams III, Bill (Non-Privileged).pst Bill, I didn't enter the annuity for the Aquilla deal as I have a couple more questions on the matter. I'd like to detail the deal in case you have any questions. Sold 50mw to PWRX @ $60 HE 15-18 (SP15) Covered with EES length and Wheel-Martel length to leave net short position of 42, 38, 35 and 32 respectively As the deal clearly turned sour and lowest offer in the 70's, I opted to take the short to the imbalance and hedge the price risk HE 15 bought 42mw from Aquilla at a fixed price of $55 and sold 42mw vs the "expost settlement price" HE 16 bought 38mw from Aquilla at a fixed price of $55 and sold 38mw vs the "expost settlement price" I found a decent offer for HE 17 & 18 ($63 Reliant) so I didn't hedge Expost settled just above $90 for both hours and Jason will be in on Monday to confirm these prices with me *I spoke with Coral about financial deals as well but Travis didn't seem to understand which side of the deal he was on as he lowered his fixed offer as a counter. I'll be in Monday to enter the annuity and confirm the price Craig