Enron Mail

From:stewart.rosman@enron.com
To:mike.swerzbin@enron.com
Subject:Valuation Overview
Cc:
Bcc:
Date:Wed, 3 Oct 2001 14:42:37 -0700 (PDT)


MWHRs = 4 Years and 1 quarter Flat so that equals approximately 37,250 Hours

The difference between 102 (the new amount) and 94.5 (the old average flat amount) = 7.5 MW * 37,250 HRs = 279,375 MWhrs

I was under the impression that a 100 MW flat amount would equal $3 million value (a $16 difference between market and $21.50). This would indicate the 102 equals a $4,100,000 valuation. As to the discount in value due to the flexibility and delivery point I am looking to you for leadership. If my assumptions are wrong then let me know.

Stewart