Enron Mail

From:jinsung.myung@enron.com
To:carl.livermore@enron.com
Subject:Retail Short
Cc:benjamin.rogers@enron.com
Bcc:benjamin.rogers@enron.com
Date:Fri, 25 Feb 2000 01:26:00 -0800 (PST)

Carl,

Don want to have following assumptions:

- ENA deals with just energy piece, not anciliary service portion.
- Gas curve: Transco zone 6 (may be bundled one)
- Power curve: East hub of NY power pool
- EES short load is fixed

For valuation;

Revenue from serving load (to make 12% IRR for an IPP)
+ Spread option value
+ ICAP
- Fixed expenses
= NI

Jin