Please ring Draper at AEP
We have paid them all of the margin they have contractual rights for - $33.5mm gone out today which is margin under our financial gas contract.
However, they want full collateral on all of their power position (this is being driven by Bill Reid on their power floor -ex Enron employee), the amount is another $220mm (they have no collateral rights to this).
Essentially, the credit guy (Frank Hilton) is hurting us in the market and anything you can do to help is appreciated. I believe some of this is vindictive behaviour from an ex-employee and senior management may not know what he is up to.
(care of Rick's email)