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Enron Mail |
In Monday=01,s Executive Committee meeting we discussed the need for a com=
mon=20 statement to use in response to questions about last week=01,s power price= =20 spikes and Enron=01,s performance. That statement follows. Media inquirie= s, as=20 always, should be referred to Mark Palmer (ext. 3-4738). =01&We are fully performing on all of our commitments. Many of the facts ar= e=20 still being gathered. This information will determine, in part, our=20 contractual commitments.* Accordingly, discussion are ongoing with certain= =20 of our counterparties to determine our obligations and the proper course of= =20 action. We are and will continue to be in regular contact with customers. = =20 We have made various arrangements with our customers to address the recent= =20 price spike including purchasing (or arranging to purchase) power for them= =20 or, in some cases, purchasing our obligations back from them directly. We do not publicly discuss daily or weekly financial performance of specifi= c=20 businesses. However, we operate our power business, as we do all other=20 commercial functions, within strict, Board-directed value at risk limits. = =20 Our focus is on maintaining a balanced portfolio and not =01&swinging for t= he=20 fences=018 during periods of volatility.=018 *Many of the facts are still being gathered. This information will=20 determine, in part, our contractual commitments. Accordingly, discussion a= re=20 ongoing with certain of our counterparties to determine our obligations and= =20 the proper course of action.
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