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Enron Mail |
let's talk about these notes prior to your drafting. please give me a call.
----- Forwarded by Jeff Dasovich/NA/Enron on 01/24/2001 11:26 AM ----- Tamara Johnson@EES 01/24/2001 11:11 AM To: Harry Kingerski/NA/Enron@Enron, Jeff Dasovich/NA/Enron@Enron, JMB <JBennett@GMSSR.com< @ ENRON cc: Neil Bresnan/HOU/EES@EES, Jubran Whalan/HOU/EES@EES, Marc Ulrich/HOU/EES@EES Subject: UPDATED Dow Jones Index information ---------------------- Forwarded by Tamara Johnson/HOU/EES on 01/24/2001 11:02 AM --------------------------- Tamara Johnson 01/24/2001 11:10 AM To: Harry Kingerski/NA/Enron@Enron, Jeff Dasovich/NA/Enron@Enron, JMB <JBennett@GMSSR.com< @ ENRON cc: Neil Bresnan/HOU/EES@EES, Jubran Whalan/HOU/EES@EES, Marc Ulrich/HOU/EES@EES Subject: Dow Jones Index information Additions from Jubran... Proposed pricing mechanism: Dow Jones Electricity Indexes, specifically their NP15/SP15 indexes. - the indexes are based on weighted average prices and total volumes - they measure "bilateral one-day prescheduled, financially firm transactions" =< therefore the Dow Jones Index more accurately reflects market pricing - Dow Jones has the right to randomly audit the data providers why not the ex-post ISO? - generators are not selling to California's ISO because of the $150/MWh price cap, =< therefore prices coming out of the ISO do not reflect real market prices - there are purchases above the $150 soft cap, but the pricing of the out of market transactions is explained to FERC only, this information is not in the public domain - if generators are not selling into the market, there is no liquidity, therefore prices are not reflective of the prices that buyers must pay - and generators may not be selling into the market due to the credit exposure why not use the ex-post ISO price on an interim basis? - because putting a false cap on the market price will result in price increases to DA customers, contrary to AB1890, without due process - Decision 99-06-058 set the foundation for the PX credit to reflect real market prices, PG&E's proposal does not adhere to this.
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