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Enron Mail |
Got a call from Dynegy. Culled the following:
Bankruptcy Dynegy will be fighting for a seat at the creditor table, since PG&E's filing failed (said Dynegy) to include a substantial amount of Dynegy receivables stemming from gas sales. Legislative investigation into wholesale power markets The request they received from the legislative committee (Dunn?) looking into wholesale prices included 86 questions, including: Every bid made into ISO/PX markets since day 1. Every document showing every forecast of energy prices done by the company. Every document regarding bids for utility power plants leading up to divestiture. Every document regarding communications with any other generator/trade association. In a meeting with Dunn last week, he told Dynegy that the committee will thoroughly investigate whether there's been market manipulation. If there's been none, no one has anything to worry about, and the committee would then move on to examine whether "the market is dysfunctional." The first hearings (this Wednesday and next) will examine all of the other investigations currently underway (e.g., CPUC, ISO, FERC, class action suit, AG (uncertain). The generators will be up first (on the 25th, as it currently stands), followed by marketers, followed by the munis. The committee is requesting that the generators send their CEOs---rumors (perhaps far-fetched) that the committee wants to set it up like the congressional tobacco hearings.
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