Re: Pale Verde 8 years out

Thanks for the prompt info!! I hope we can help this guy get his power plant
built. DF

From: Jeff Nielsen 10/02/2000 10:31 AM

To: Drew Fossum/ET&S/Enron@ENRON
cc: Jo Williams/ET&S/Enron@ENRON

Subject: Pale Verde 8 years out

I was not able to get the bid offer spread but I was able to get the mid
market for 8 years out:

2003 50.25
2004 43.5
2005 43.5
2006 43.50
2007 43.65
2008 44.25
2009 45
2010 45.75

I also checked with my buddy about why the value of Pale Verde value tails
off in the out years. He says it is because a large part of there power
supply is generated by hydro plants and part of the spike this year was
created by the lack of moisture this past winter.