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Strategies & Market Trends : IPPs and Merchant Energy Co.s -- Ignore unavailable to you. Want to Upgrade?

To: jim_p who wrote (1683)	3/27/2003 9:18:11 AM
From: ItsAllCyclical	Read Replies (1) \| Respond to of 3358

The banks have nothing to lose by granting RRI another refi extension. They also have nothing to gain by signing now vs 1 month from now when situation is more clear. It could be argued that they may want to sign now to secure assets, but then why didn't RRI sign over 1 month ago. I think the risk of BK is still remote, but whereas it was about 1% previous it's probably more like 5-10% now. I don't think any ruling from the FERC will have much impact on their business. Nor do I think any fine will put them over the edge. However, I am worried about how the bankers will view this.

To: jim_p who wrote (1683)	3/27/2003 12:44:05 PM
From: Oeconomicus	Read Replies (1) \| Respond to of 3358

We all know that FERC reports to Congress and politics played a heavy roll yesterday. And Barbara Boxer is playing politics, toying loosely with the constitution, to try to impose by legislation what she and Gray Davis can't get through existing administrative and civil law processes - extorted payments and nullification of contracts. WASHINGTON (Dow Jones)--Sen. Barbara Boxer introduced a bill to amend the Federal Power Act "to provide refunds for unjust and unreasonable charges on electric energy in the State of California." The California Democrat said her bill would require energy companies to pay refunds "in the minimum amount of $8.9 billion" and also would require FERC to order the renegotiation of long-term contracts. biz.yahoo.com