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Gold/Mining/Energy : CPN: Calpine Corporation
FRO 23.66-0.3%Nov 7 9:30 AM EST

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To: Raymond Duray who wrote (119)8/16/2001 12:42:05 PM
From: Daniel G. DeBusschere  Read Replies (2) of 555
 
Ray-
It was reported by CPN management during their energy services broadcast on Monday that they (CPN) were talking directly with ALCOA about long term energy contracts that would allow ALCOA to fire up the current cold smelters. That is, CPN could supply long term reliable power that would pencil out a profitable deal for ALCOA. They were very positive about this prospect. I do not know the details, but I am sure that it would depend on CPN finding sufficient gas reserves and long term pricing. CPN is really the low cost producer and it appears to me for this type of power supply agreement is possible. I trust the CPN management not to use this to only hype their stock.
Dan
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