They need to post more cash. Let me know. Maybe a call to Cronin. Rick

-----Original Message-----
From: Bradford, William S. 
Sent: Wednesday, June 20, 2001 8:33 PM
To: Buy, Rick; Tribolet, Michael
Subject: FW: Existing Exposures for The New Power Company
Importance: High
Sensitivity: Confidential


These numbers are getting big with the runoff of commodity prices.  Somewhat of a scary predicament.
 
Bill
 

-----Original Message----- 
From: Copeland, James L. 
Sent: Wed 6/20/2001 5:11 PM 
To: Ranieri, John 
Cc: Bradford, William S.; Furey, Denise 
Subject: Existing Exposures for The New Power Company



John, just wanted to give you a heads up that I will be calling you tomorrow once our curves are loaded from today.  As of today, we show that NewPower's exposure stands at approximately $66MM now that May business has rolled off.  Of course, we do have your $20MM cash collateral and the $15MM collateral threshold, but that still leaves us about $31MM short.  I have looked and it appears that approximately $14MM of the exposure is related to June Gas Sales to NewPower.  We will probably need to have you prepay June gas and post cash or an LC for the remainder based on what tomorrows report shows.  I will be in touch by late morning to discuss how to resolve.  Thanks.