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Enron Mail |
After reviewing our position in more detail, we are quite long MWH's in the NE market, therefore the 5 year 7x24 PJM East bid (100-125 MW) would be closer to $4-5/Mwh below the current mid. Additional purchases above 125 MW would be discounted further for VAR and liquidity reasons.
With respect to Florida, I would still pay the mid for Cal 02 (shaped like JEA short) and mid minus $2.00/Mwh for 50 MW of Calender 04-05. As I mentioned in the meeting, EES/EWS would also provide a bid for ICAP/ancillary services in PJM and NEPOOL where the company has existing short positions.
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