---------------------- Forwarded by Hunter S Shively/HOU/ECT on 09/18/2000 
12:01 PM ---------------------------


Lloyd Will
09/11/2000 03:20 PM
To: Keith Fraley/HOU/ECT@ECT, Madhup Kumar/Corp/Enron@ENRON, Nicole 
La/HOU/ECT@ECT, George Hopley/HOU/ECT@ect, Marc Bir/Corp/Enron@ENRON, Greg 
Woulfe/HOU/ECT@ECT, Clayton Vernon/Corp/Enron@ENRON, Hunter S 
Shively/HOU/ECT@ECT, Chris Gaskill/Corp/Enron@Enron, John P 
Tollefsen/HOU/ECT@ECT, Alan Chen/Corp/Enron@Enron, Narsimha 
Misra/NA/Enron@Enron, Ramesh Swaminathan/Corp/Enron@ENRON
cc:  
Subject: Re: Price Spikes

fyi
---------------------- Forwarded by Lloyd Will/HOU/ECT on 09/11/2000 03:17 PM 
---------------------------
   
	
	
	From:  Christi L Nicolay                           09/11/2000 01:46 PM
	

To: Lloyd Will/HOU/ECT@ECT, Charles Yeung/HOU/ECT@ECT, Richard 
Ingersoll/HOU/ECT@ECT
cc:  
Subject: Re: Price Spikes

FYI.  A good paper.
---------------------- Forwarded by Christi L Nicolay/HOU/ECT on 09/11/2000 
01:35 PM ---------------------------


Christi L Nicolay
09/11/2000 01:46 PM
To: Steve Walton/HOU/ECT@ECT
cc: Sarah Novosel/Corp/Enron@Enron, Jeff Brown/HOU/EES@EES, James D 
Steffes/HOU/EES@EES, John Berger/HOU/ECT@ECT, Joe Hartsoe/Corp/Enron@Enron, 
Janine Migden/DUB/EES@EES, Joe Connor/NA/Enron@Enron 

Subject: Re: Price Spikes  

Steve--Thanks.  This paper sheds alot of light on why Cal. is problematic.  
Jeff, Jim S., and I talked about it today because of Kevin's desire to be 
able to float his entire position against the pool and the reg. group idea 
that some "penalty" or separate charge should be attributed to those that 
cause the big congestion (primarily because of the Cal. problem that day of 
is cheaper than day ahead due to the caps.)





Steve Walton
09/07/2000 09:13 PM
To: Christi L Nicolay/HOU/ECT@ECT
cc: Jeff Brown/HOU/EES@EES, James D Steffes/HOU/EES@EES 

Subject: Price Spikes

Christi,
 I found this to be a very interesting paper on the California Price Spikes.  
The conclusion is that price caps are infact creating part of the problem. 

Steve
---------------------- Forwarded by Steve Walton/HOU/ECT on 09/07/2000 08:52 
PM ---------------------------


Carl Imparato <cfi1@tca-us.com> on 09/06/2000 12:29:49 AM
Please respond to cfi1@tca-us.com
To: wgibson@nwppc.org, steve.walton@enron.com, philip.h.carver@state.or.us, 
blsilverstein@bpa.gov, adavis@state.mt.us, lnordell@state.mt.us, 
lwolv@worldaccessnet.com, dave.robertson@gt.pge.com, kewh@dynegy.com, 
arneo@ep.cted.wa.gov
cc:  
Subject: Price Spikes


The attached paper (which was presented to the OPUC by its author last
month) provides a nice summary of some of the reasons behind the turmoil
in California.

Carl

 - VanVactor-PriceSpikes081400.PDF