We're lending again.....

The STSW desk will be 20 mw short per the El Paso lending agreement, on peak @ 4C-345kv. The day-ahead sale price is $27.05. Please purchase to cover this position under the STWHOURLY desk and complete an inter-desk sale to STSW to tie out our positions. 

PLEASE NOTE: INTER-DESK SWAPS ARE NOT THE SAME AS ANNUITIES. YOU CANNOT NET THE DAY'S VOLUME AND SWAP OUT AT ONLY ONE HOUR. YOU MUST BUY AND SELL THE SAME AMOUNT EACH HOUR TO REMAIN AT ZERO EACH HOUR.

It's been awhile since we've done this, so here's a reminder of the procedure. Once you've purchased to cover this short in the real time market, you must sell back to El Paso @ $0 to keep our position net zero. Then reduce the day-ahead purchase price from El Paso (794022) to $2 to cover the lending service fee.

Please, please, please ask me if you have ANY questions about how to do this.

Kate Symes
Real Time Trading Support
Office/503-464-7744
Cell/503-819-2181
Fax/503-464-7996