Problem: BODY: The Hourly Ercot book is long 30 mw's at $13.25 for hour ending 23 and 24 on Friday. This is currently scheduled into the North Zone load. When you sell this, cut the load and replace with the appropriate QSE trade. The purchase is in Enpower as #825387. The sale to Ercot Imbal is under #825406. Cut the enpower sale and replace with appropiate sale counterparty. Everything should be entered under the Hourly Ercot desk. Let me know how it goes. JMF
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A: SUBJECT: Position for 23 & 24 tomorrow.

Problem: BODY: Gere, just following up on the offsite - have you all agreed on the target producer list for the insurance product? How is the peaker product developing? Regards
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A: SUBJECT: Producer Insurance Targets

Problem: BODY: Paul: Here's additional info for the "curtailment" data that we're pulling together. Utility Pricing for Core Gas Customers Prior to the month in question, the utility forecasts gas prices based on NYMEX monthly prices. So for example, based on November's forecast, the utility sets prices to be charged to core consumers in December. When December's over, the utility compares forecast prices with actual prices. If the forecast was too low, and there's an undercollection, the utility will increase January's price forecast by "just enough" to make up for the December undercollection. If prices were too high and there's an overcollection, the utility will reduce January price forecast by just enough to refund the overcollection. If the overcollection/undercollection is very large, the utilities have generally spread out the "true-up" over several months to avoid "rate shock" one way or the other. However, under the current circumstances, the utilities may be less willing to spread it out, and may wish to recover the entire undercollection in the following month. In short, there's at least a one-month lag in customer prices to account for differences in forecasts versus actual.
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A:
SUBJECT: Pricing for CA IOU's Core Gas Customers