OTCPK:JENGQ - Post by User
Comment by
Capharnaumon Mar 11, 2021 9:43am
72 Views
Post# 32771389
RE:RE:Texas votes on rolling back energy prices today
RE:RE:Texas votes on rolling back energy prices todayGaillardDeshaie wrote: Testomax, well when I'm doing DD, I found, ERCOT will have to reverse the charge, if they are voting for, from February 17th (23:55) to February 19th (total 32 hours). However, they are not talking about February 15th to February 17th (23:55). So, I don't know what can be the charge for JE to be paid. Is it the $50millions on the press release of March 3rd to be paid instead of the $250millions? If so, JE will be able to survive but I hope they will change the corporate financials structure for Texas to an independant corporation doing operation in Texas. GLTA. Gaillard.
Your DD is accurate. Also, while they would change the rate from 9,000 $/MW, the rate won't be changed to zero. I read in an article that the estimate for the 32 hours overcharge was $1.5B (compared to the $16B, which is the total charge for a month). Hopefully, for shareholders, it is more than that, but if your DD and the amount I've read about are right, then JE would still face a charge between $150M to $200M.
Still very speculative.