Here are all the picks. Good work getting all these in by 9:30. Thanks. And here are the Last Person Standing picks: Atlanta, Denver, Green Bay, Indianapolis, Minnesota and San Diego.
Answer: Picks of the Week--Week 3 Prelim
Harry, Iris and Brandon: I asked ConEd if they were prepared to hear our OFFER to buy peaking capacity from the Lakewood expansion. They are "in the midst of preparing a draft term sheet for purchasing the output/tolling" so we'll have to wait to see the parameters of sale. I also asked if they would like to see PJM WEST synthetic toll offer from us. Unfortunately, NO. To the extent it matters, the on-line date is now set for late 2002, so they would like to see our offer for a Jan '03 start date. Given that these guys are doing a real comparison against bricks and mortar, we would be looking at a $63 million option premium for 500MW @ 3.50/KW-mo over a three-year term; $84 million for a four-year term, I would hope we could be able to find a way to hedge the risk of too many $500 hours killing us. Is there any cap we could buy to protect our downside risk here and still make this deal attractive? The heat rate call is struck at 10,900!
Answer: ConEd Lakewood Deal (PJM East)
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Answer: Delivery Status Notification (Relay)
Attached is our latest forecast update. The 3rd current est. I am comparing to is the second revision that we sent. Please let me know if you have any questions.
Answer:
forecast update