Strictly Buy and Sell Set Ups Message Board

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Strategies & Market Trends : Strictly Buy and Sell Set Ups

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To: chowder who wrote (33)	10/14/2004 4:13:02 PM
From: jim_p	Read Replies (1) of 13449

CPN has been selling off their future hoping the IPP market would turn around in time for the company to survive. While the IPP market has improved in some markets, NG prices are a killer for CPN since they rely almost 100% on NG. CPN entered the downturn with good hedges in place for both NG and power sales, but over the last two years they have been selling off any profitable hedges to recognize the gains today at the expense of tomorrow. Too much leverage to survive with high NG prices and a slow recovery in the IPP market. JMHO, Jim

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