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Enron Mail |
Here is the transcript of the ISO's real-time desk asking Enron real-time=
=20 trader Ryan Slinger to help the ISO "set" the market-clearing price ("MCP")= =20 for replacement energy. The ISO wanted Enron to help set the MCP for=20 replacement energy at $91.86, because the ISO was upset that the MCP had=20 dropped to a penny, and now market participants were buying the ISO's exces= s=20 energy a penny (after having sold it to the ISO for $91 the day before). There are two phone calls. The first call is the ISO calling to ask us to= =20 help it to set the price. The next call occurs three minutes later and is= =20 the ISO calling because we didn't put in the bid. Our trader told the ISO= =20 that he had to "talk to his boss" because he "didn't want to do anything=20 wrong." =20 Note: I have just learned a complicating detail: Coincidentally, our desk= =20 did put in a bid for $91.86 for Hour 18, which was what the ISO had=20 requested. However, the bid had been formulated before the ISO called our= =20 desk. Transcription of a telephone conversation between the ISO=01,s Real Time De= sk=20 and Enron=01,s Real Time Desk - July 3, 2001, 14:40:50 - 14.43:38 Enron: Enron, this is David [Porter]. ISO: Hi David. This is Allen at the ISO. Enron: David: Hi Allen. How ya doing? ISO: Allen: Hold on one sec. I=01,ve got to get something. Unknown: Stage one at 11. ISO: Allen: Hey, I=01,m on the hour-ahead desk. Did you guys put a bid i= n? Enron: David: Yes, hang on one second Allen. ISO: Allen: Yeah. Enron: Ryan: This is Ryan [Slinger]. ISO: Allen: Hey Ryan, this is Allen at the ISO hour ahead. Did you guys= =20 put a trade in, replacement [energy]? Not trade, but a bid? Enron: Ryan: For which hour, for hour 15? ISO: Allen: For hour 16? Enron: Ryan: For hour 16, correct. ISO: Allen: Can you guys continue to put the price at that? Enron: Ryan: At what? At $91.86? ISO: Allen: Yes Enron: Ryan: Um,=01(. ISO: Allen: This isn=01,t on a recorded line, but we wanted to do that be= cause=20 of some of the things that we are seeing. It would be good to keep it [the= =20 Market Clearing Price for Replacement Energy] at a higher price. It doesn= =01,t=20 matter how many megawatts you put it at, but we want to clear it at a high= er=20 price. Enron: Ryan: Wait, you said we=01,re not on a recorded line, or we are? ISO: Allen: We=01,re not. No, we=01,re not, okay. We already talked to = the=20 day-ahead research guy and myself, but we saw you guys clear at $91 and we= =20 wanted you, if it=01,s possible, to continue to set that, whether it=01,s 2= 0 MW or=20 whatever you want to put in there. Enron: Ryan: Okay, um=01(.. ISO: Allen: We want to clear it at that because of some issues we are=20 seeing as far as others that are taking advantage of the market. Enron: Ryan: Oh yeah. Because it had been clearing like at $100, hadn=01= ,t it? ISO: Allen: Not replacement. Enron: Ryan: Oh, not replacement? ISO: Allen: No. What happened is that we bought it back=01(.see, the=20 day-ahead was purchased at like $100 and then what happened is that the=20 hour-ahead . . .a bunch of these people were buying it back for a penny ov= er=20 the [inter] ties. They were faking it. So we wanted to keep the price up= =20 high. =20 Allen and Ryan: Unintelligible. Enron: Ryan: So they were selling it, oh, in the day ahead, and buying it= =20 back=01(. ISO: Allen: Buying like 60 bucks. . . trying to make money off of it, the= n=20 basically they are trying to buy it back at a penny. Enron: Ryan: Oh, that=01,s ridiculous. ISO: Allen: That=01,s really ticking us off and right now . . . Enron: Ryan: That to me signals, that=01,s probably Powerex, isn=01,t it? ISO: Allen: There=01,s about four of them right now. Enron: Ryan: Shit. ISO: Allen: And for the day-ahead for tomorrow, we didn=01,t, we didn=01,= t, we=20 took them out. Basically, we=01,re not allowing anything over the ties. Enron: Ryan: I didn=01,t submit one for 17 or =01(. ISO: Allen: That=01,s fine. They=01,ll probably go to a penny and they= =01,ll=20 probably get excited and do a bunch, and we=01,ll hopefully cut them off if= you=20 can get the next price and the next market at 80 or 91. Enron: Ryan: Okay. All right. Well, I=01,ll see what I can do. ISO: Allen: I appreciate it. It=01,s actually in the best interest for t= he=20 State and the ISO [with] what these guys are doing, so we are trying to put= a=20 stop to it. Enron: Ryan: Okay. ISO: Allen. Thanks, bye. Transcription of a telephone conversation between the ISO=01,s Real Time De= sk=20 and Enron=01,s Real Time Desk - July 3, 2001, 14:46:55 - 14:47:40 (3 minute= s=20 later) Enron: This is Ryan. ISO: Hey Ryan, its Allen. Enron: Ryan: Yeah. ISO: Allen: Hey, did you put it in for the next hour? Enron: Ryan: For hour 16? ISO: Allen: Yeah, no, they already ran 17. Enron: Ryan: Oh, I didn=01,t do 17, no. ISO: Allen: Well, see, we=01,re gonna run, we=01,re gonna run 18 coming u= p here=20 in the next fifteen minutes. Enron: Ryan: Okay. ISO: Allen: If you have any questions, let me know. I hope you know this= =20 is me from the ISO. I don=01,t know if you think I=01,m somebody else but = you can=20 call me at the hour-ahead desk. Enron: Ryan: Well, I mean, I=01,m talking to my boss right now as far as,= =20 because of, you know, I don=01,t want to be doing anything that=01,s wrong. ISO: Allen: Yeah=01(=20 Enron: Ryan: Even if it is helping you guys out, if it=01,s wrong, I can= =01,t do=20 it. ISO: Allen: I know, but if you continue to bid in at, um, the market, tha= t=01, s the best thing to do. For replacement. All right. Enron: Ryan: Okay, I=01,ll see what I can do. ISO: Allen: Thanks, man.
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