analysis of div announcement, page-6

That is a very good point about CNP potentially raising fees to CER. You would almost expect CNP to raise fees as that is the only way they would have been able to get additional cash since distributions were suspended by CER until now.

It appears that board seperation will never happen. CNP will continue to call the shots on CER and you can guarantee that CNP will never allow a capital raising for CER which could dilute their interest.

PS. I hold CNP.