where did you get this info from?   

have not seen the generators who hedged before selling out.  mostly just seen calpine selling.

 -----Original Message-----
From: 	Caroline.Abramo@enron.com@ENRON [mailto:IMCEANOTES-Caroline+2EAbramo+40enron+2Ecom+40ENRON@ENRON.com] 
Sent:	Monday, June 18, 2001 7:46 AM
To:	Arnold, John
Subject:	Cali

Two Energy Auctions in End Jan-Beg Feb:
In the last week, it has been announced that the CDWR (California
Department of Water Resources) will not honor the Bids resulting from the
two auctions held this year.  Out of the 31 contracts, only 8 have been
signed.  The other 23 are expected to either remain unsigned/uncontracted
or their terms (their prices) are expected to change since power prices
have decreased so much since the beginning of the year.

John- have we seen any selling in the 10 year curve to support the
above..all the people who bought in Jan and Feb selling out???