Enron Mail |
Thanks, Joe
To: Rick Buy/HOU/ECT@ECT, Mark Frevert/NA/Enron@Enron, John J Lavorato/Corp/Enron@Enron, Ted Murphy/HOU/ECT@ECT cc: Jeff Skilling/Corp/Enron@ENRON, Joseph W Sutton/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT Subject: As you know, the ENA gas floor came in with a $30 million VAR position today. Even though this left us with another $10 million of unused VAR, I want to make you aware that we may exceed our VAR limit today. This move up was much bigger than the market anticipated, and natural gas volatility was up quite a bit. The VAR calculation is now kicked off at 2:00am and we will know our VAR position by 6:00am. If we are over, I will need to ask for a one day increase. I have already told the desk heads that we will most likely need to sell some contracts tonight and tomorrow. Jeff
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