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To: Cogito Ergo Sum who wrote (35401)	6/25/2003 5:30:39 PM
From: energyplay	Respond to of 74559

Hi Kastel - No, I don't. As utilites have built more power plants, this has beome more compilicated. Also, some builders on NG using plants have floating rate contracts (pretty good) some have fixed price(bad - and dangerous) Some coal, oil and nuke plants have fixed prices (bad, won't make money from higher electricty prices) some have floating. Some contracts expire soon, some not until 2007. Some utilites have hedged much of their future NG buys at lower prices. Lots of work required. Work I try to avoid. ;-) Calpine (CPN) is the biggest NG user in North America, and seems very exposed to higher NG prices. They are on one end of the spectrum. ON the other end - Williams (WMB) & El Paso (EP) are a big NG producers. Almost like E&Ps... WMB seems cleaner than EP, which still has 'issues'. THe IPP and Merchant power board is a good place to start... Subject 53293