Enron Mail

From: lavorato@enron.com To: john.zufferli@enron.com Subject: RE: EOL Cc: Bcc: Date: Tue, 3 Apr 2001 07:34:02 -0700 (PDT) Liquidity feeds on itself. PJM Cinergy and Entergy were not liquid until we made them liquid. -----Original Message----- From: Zufferli, John Sent: Tuesday, April 03, 2001 9:26 AM To: Lavorato, John Subject: EOL No to be overly defensive, but in very liquid markets (ie PJM, Cinergy and Entergy) the EOL bid/offer is 2.5-3.5%. In the west MidC, NP,SP, the bid offer is 3-4.5%. In a market it which I am 95% of the trades with no liquidity without me, my EOL bid offer is 4-5%. I think the is very reasonable, if I felt that being tighter would allow more trades without me either being the repository of unwanted MW or being the only supplier of MW, then I would be tighter.