fw csfb independent power weekly issue 38 response barronsarti cle included original message stein neil mailto neil stein csfb com sent monday august 06 2001 7 14 undisclosed recipients subject csfb independent power weekly issue 38 response barronsarti cle included good morning attached please find latest issue independent power weekly also note september 10 11 csfb host power generation supply chain conference plaza hotel new york city event designed provide investors wholistic perspective aspects sector coal natural gas companies equipment construction service providers power producers please contact us would like additional information 1 ipps rise 0 4 last week ipp composite rose 0 4 slightly underperforming nasdaq 1 8 2 article thesis consider potential retirement existing capacity 3 regional characteristics power generation market resist broad sweeping generalizations 3 credit spreads continue improve importantly ipp equity composite traded 10 last weeks ipp credit spreads continue tighten example calpine shares traded 11 since july 6 spreads cpn 10 year 8 5 notes due 2011 actually tightened 50 basis points last week alone cpn spreads tightened 12 basis points stock traded 3 cite another example mirant shares traded 8 period spreads mir 7 9 notes due 2009 tightened 55 basis points 4 q 2 earnings review last week second quarter earnings results reported black hills cleco dpl entergy mirant orion power upside surprises reported dpl etr mir orn versus expectations mirant results strongest coming 21 estimate cleco company posted earnings disappointment reporting q 2 results 22 estimate 5 power market update last week power prices considerably evidenced 27 increase mirant national power index exception western market power prices got boost hot temperatures blanketed country texas market experienced unusual volatility owing recent wholesale market design changes initiation retail competition pilot program regards neil stein 212 325 4217 message named person use may contain confidential proprietary legally privileged information confidentiality privilege waived lost mistransmission receive message error please immediately delete copies system destroy hard copies notify sender must directly indirectly use disclose distribute print copy part message intended recipient credit suisse group subsidiaries reserve right monitor e mail communications networks views expressed message individual sender except message states otherwise sender authorised state views entity unless otherwise stated pricing information given message indicative subject change constitute offer deal price quoted reference terms executed transactions treated preliminary subject formal written confirmation