Sensitivity analysis on Retail Short

FYI
---------------------- Forwarded by Jinsung Myung/Corp/Enron on 03/07/2000
06:31 PM ---------------------------

Jinsung Myung
03/07/2000 09:07 AM
To: Donald M- ECT Origination Black/HOU/ECT@ECT
cc:

Subject: Sensitivity analysis on Retail Short

Don,

Here is a couple of updates on Retail Short.

- I realized that power curve has impact on both expense from serving EES
load and spread option value, so I asked Carl to run spread option model with
different mid curve scenarios as well as correlation.

- To make our analysis easier, I would like to have 40/60 of debt/equity and
1.5 of DSCR (as you originally suggested), so that we can concentrate on
"Energy charge" to EES.

Please let me know, if you have any concern. We should be able to finish by
today. Thank you.

Jinsung (37330)