Attached please find the amended and restated Cinergy Marketing and Trading guaranty. The guaranty has been revised to increase the amount from $9.5 mil to $15 mil. Please obtain signature by all four managers listed in the signature block. If you have any questions, please call me at 853-3512.
Answer: Cinergy Marketing Revised Guaranty
Mike: Here are my comments. Apologies for the fact that they are quick and dirty. All Enron's public statements that I have read, including, I think, statements made to financial analysts, state that our exposure in California is not "material." Dennis' declaration says that the situation in California has been a "financial disaster," that "Enron has lost over $300 million," and that "Enron stands to lose millions more." The losses are described as "huge." Perhaps this is information that has since been communicated to the market, but I'm not aware of it. And if it hasn't, it could represent a significant conflict with previous statements. Seems prudent to run this by IR and perhaps others before releasing. Regarding the statements about our hedging strategy. It would seem prudent to run this through the organization for comment and discussion prior to making public. Very minor technical point--I don't think that AB 1890 was passed
Answer: Comments on Dennis' Declaration in UC/CSU Lawsuit
Our group has been selling NOV to hedge our short basis position. Our phys fixed priced liquidity this morning put us in a longer nov nymex position. We have sold 872 since 11:00 am. Grigsby
Answer: nov nymex
Hi Heather, Jeff and Ozzie, The only issue I have with the testimony is the statement that the units are "extremely quiet". At this point FCE will only guaranty 60dba, which some folks might not consider to be extremely quiet depending on how close a facility is to their house. You may have determined that the noise level will be some number less than 60 dba so that the guaranty level does not reflect the expected noise level. Kay
Answer:
CRRA/Fuel Cells/privileged and confidential