The New York Mercantile Exchange will raise the margins on California/Oregon border and PaloVerde electricity and on the July and August 2000 contracts for Cinergy, Entergy, and Pennsylvania/New Jersey/Maryland (PJM) electricity as of the close of business today. Margins on California/Oregon border and Palo Verde electricity futures will be increased to $2,000 from $1,500 for clearing members; to $2,200 from $1,650 for members; and to $2,700 from $2,025 for customers. Margins for the Cinergy, Entergy, and PJM July and August 2000 contracts will be raised to $7,000 from $5,600 for clearing members; to $7,700 from $6,160 for members; and to $9,450 from $7,560 for customers.
Margins on spreads involving the July or August 2000 contracts will be raised to $5,400 from $4,000 for clearing members; to $5,940 from $4,400 for members; and to $7,290 from $5,400 for customers. Margins on spreads between all other months will remain unchanged.
