ferc price cap order client conf call 11 30 edt today ferc price cap order client conference call today thursday april 26 th 11 30 edt host ray niles late last night federal energy regulatory commission ferc acted impose temporary wholesale power price caps western united states cap affects real time market estimate 5 total wholesale market set expire one year may 1 near term negative power producers energy merchants dramatic example headline risk political risk regulation stepped view reducing multiple investors pay earnings terms earnings ironically effect may somewhat positive albeit small 5 market affected caps likely increase volatility benefitting energy merchants sustain high power prices longer period time benefitting power producers reducing incentive build new plants call replay reservation 800 229 0281 us 800 642 1687 us 758540 706 645 9237 int l 706 645 9291 int l replay 4 30 11 59 pm raymond c niles power natural gas research salomon smith barney 212 816 2807 ray niles ssmb com