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Terry, the entire facility has not been disturbed. Only most of it. Id say
approx 70%. The other 30% has been impacted but not tot the point of
disturbing all the vegetation, just foot and vehicle traffic. I dont have
problem with saying the above, but keep in mind, the facility has been there
and just because the trees havent been disturbed, doesnt mean that the
understory beneath the trees has been pristine. It has always been
Transwetern's policy to maintain an environmetnal presence at all of its
locations, especially at sites where there is some aesthetic value (scenery
wildlife etc). I dont have a problem with including resource reports 3 and 7
for vegetation and soils. I have received a verbal from the US Fish and
Wildlife and they agreed with the intent in my letter to them that pipline
activites at each location tend to preclude any impacts to sensitive or
critical habitats. In addition, the adjacent lands are of the same habitat
types as that which are contained within the facility and therefore, would
not be an issue of habitat loss. There are not any old TW hands around to
positively verify that the site was cleanred and there has been natural
encroachment of the trees into the area, I seriously doubt it. Again, TW
tried to mantain a postive presence at each site, but did utilize the sites
for their intended purpose.
In Arizona, we do not have a blanket approval for discharges of hydrostatic
testwater. We do however plan to use new pipe and water supplied either from
the closest City (ie Flagstaff for station 2 construction) or from a drinking
well source. In any event, we will test the water prior to discharge and
ensure that the discharge will stay on the facility property to soak into the
ground. I cant imagine that there will be large volumes of hydro water as we
dont plan on installing a large amount of new pipe.
If we need to discuss the above, give me a call
"Hackett, Terry" <[email protected]> on 03/09/2001 02:18:52 PM
To: "'[email protected]'" <[email protected]>
cc: "'[email protected]'" <[email protected]>
Subject: Station 2 Concerns
Larry,
I gave the tree issue at Station 2 some thought and I have a couple of
concerns regarding the environmental report. The report is being written,
based on the fact that all construction will occur within the station yard
and on previously disturbed ground. If we impact areas (even within
existing facilities) that were not previously disturbed we are required to
include environmental data about those areas.
So the first question is whether the entire station yard has been
"previously disturbed". To help determine this, I downloaded a USGS aerial
(1996) of the station from the internet and the trees occurring within the
station yard look to be the same age/size as those surrounding the station.
This would indicate that the areas within the station covered with trees
have not been "previously disturbed". A copy of the aerial is attached.
However, it is conceivable that the site was cleared prior to initial
construction and the trees simply grew back. Unfortunately, I don't have
that information and don't know if you do either. And let me point out that
my concern is not whether Transwestern will receive approval to construct,
but the amount of information supplied in the report. I want to feel
comfortable that we are supplying the required information to FERC.
For this project, that would primarily include a description of the existing
vegetation and soils (resource report 3 and 7). All we would really need is
a brief description of the existing vegetation and soils, and how much will
be permanently impacted, etc. However, we did not budget any time to obtain
this information, nor did we anticipate the need for site visits.
My hope is that we can find an answer to whether the site was previously
disturbed or not. If not, I hope to come up with some verbiage that
everyone is comfortable with to satisfy the FERC requirements. Otherwise,
we will have to obtain the necessary information, and that's beyond our
initial scope.
If you have had any biological reports done for the area on other projects,
that may provide enough information. Again, it only needs to be brief.
Also, we need to verify for the other 3 stations that we are constructing in
previously disturbed areas.
Lastly, Arnold has indicated that the hydro-test water will come from
existing water source at each station and that it will be discharged under
Transwestern's blanket permit. Please verify...and I think we should
provide a copy of the blanket permit with the filing.
After you have had a chance to think about this, please call and we can
discuss.
Terry.
<<Station 2 aerial.jpg>>
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- Station 2 aerial.jpg |
IP, Georgia-Pacific, and Weyerhaeuser
launch on-line marketplace
PURCHASE, N.Y., ATLANTA, and FEDERAL WAY, Wash., March
23, 2000 (PRNewswire) - International Paper, Georgia-Pacific
Corp. and Weyerhaeuser Co. today jointly announced that they
intend to develop a global business-to-business marketplace to
enable buying and selling of paper and forest products on-line.
The companies will take a leadership role to facilitate the utilization
of Internet technology to enhance service to customers and
increase efficiency with suppliers. The electronic marketplace will
create a foundation for common industry standards to simplify and
accelerate the adoption of electronic commerce across the
industry.
The marketplace will operate as an independent entity with its own
board of directors and management team. Initially, the three
founding companies will each have an equal equity position, but it is
expected that more partners will join the initiative. Based on
demonstrated success, the companies will consider taking the
entity public.
The paper and forest products industry in the United States ships
more than $200 billion worth of products annually. By working
together to establish an electronic marketplace, the three leading
companies in the industry believe they can benefit customers by
simplifying transaction processes, improving information flow and
increasing speed of delivery, thereby reducing costs. Providing
both procurement and sales functions means the on-line
marketplace will also enable participating companies to streamline
purchasing operations, reduce inventories, cut internal costs and
increase capital efficiency in the industry.
The three companies immediately will begin conducting a search
for a chief executive officer for the new operation and are assessing
potential technology partners to add state-of-the-art expertise to the
enterprise. The companies plan to promptly complete a definitive
agreement, finalize a business plan and enlist additional strategic
partners, including forest products companies and affiliated industry
firms.
John T. Dillon, International Paper's chairman and chief executive
officer, said, "This is a substantial commitment on the part of three
industry leaders to develop a comprehensive electronic
marketplace for the forest and paper sector. As manufacturers,
marketers and distributors of a broad array of products, we will
collectively bring expertise and resources to this effort."
A.D. "Pete" Correll, Georgia-Pacific's chairman and chief executive
officer, said, "This is a bold move for the paper and forest products
industry. It is a defining step in our industry's positioning in the
electronic business-to-business marketplace. Our companies
immediately bring products and distribution capability through our
active, joint participation."
Steven R. Rogel, Weyerhaeuser's chairman, president and chief
executive, said, "Rapidly evolving technology is dramatically
changing the global marketplace. This initiative will aggressively
shape the electronic marketplace in the paper and forest products
industry to ensure our industry meets the current and future needs of
our customers. It will also promote better relationships with other
trade partners, such as suppliers."
Executives representing the three companies who will serve as a
steering committee include Marianne M. Parrs, executive vice
president, International Paper; and John N. Balboni, vice president -
e-business, International Paper; David J. Paterson, vice president -
electronic commerce, Georgia-Pacific; and Robert A. Renner,
director - electronic commerce, Georgia-Pacific; and Mack L.
Hogans, senior vice president - corporate affairs with acting
responsibility for electronic business, Weyerhaeuser; and Darien E.
Roseen, vice president, strategic planning, Weyerhaeuser. Morgan
Stanley Dean Witter has been selected to provide financial
consulting services for this initiative.
Until the electronic marketplace is up and running, which is subject
to appropriate governmental and other approvals, the companies
will continue to conduct sales and procurement activities as normal.
International Paper's previously announced relationship with
PaperExchange.com will remain part of the company's
e-commerce strategy.
International Paper is the world's largest paper and forest products
company. Businesses include printing papers, packaging, building
materials, chemical products and distribution. Headquartered in the
United States at Purchase, N.Y., International Paper has operations
in nearly 50 countries, employs nearly 100,000 people and exports
its products to more than 130 nations.
Georgia-Pacific, headquartered at Atlanta, is one of the world's
leading manufacturers and distributors of pulp, paper and building
products. It consists of two distinct operating groups -- The
Georgia-Pacific Group, which includes the pulp, paper and building
products businesses, and The Timber Company, which manages
4.7 million acres of timberland in North America. The company
employs more than 55,000 people at 500 locations in the United
States and Canada.
Weyerhaeuser Company, one of the world's largest integrated
forest products companies, was incorporated in 1900. In 1999,
sales were $12.3 billion. It has offices or operations in 13 countries,
with customers worldwide. Weyerhaeuser is principally engaged in
the growing and harvesting of timber; the manufacture, distribution
and sale of forest products; and real estate construction,
development and related activities. |
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Should Attend</a><br>
<a href="http://www.kaseco.com/classes/tech_outline.htm">Detailed Agenda and
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---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 03/27/2000
08:48 AM ---------------------------
Robert Brooks <[email protected]> on 03/22/2000 12:45:20 PM
Please respond to "[email protected]" <[email protected]>
To: "'GPCM Distribution'" <[email protected]>
cc: (bcc: Vince J Kaminski/HOU/ECT)
Subject: GRI and Gas Storage
Gri Study Documents Changing Role of Natural Gas Storage
( March 21, 2000 )
(reported in http://powermarketers.com 3/22/2000)
(forwarded to you by Bob Brooks, RBA Consultants)
ARLINGTON, Va., March 21 /PRNewswire/ -- Regulatory changes coupled with
steady growth in U.S. natural gas consumption are expected to trigger a 21
percent increase in gas storage capacity over the next 15 years, according
to a new GRI study.
The study -- Natural Gas Storage Overview in a Changing Market Environment
(GRI-99/0200) -- estimates that lower 48 storage capacity for working gas
will grow from 3.8 trillion cubic feet (Tcf) in 1998 to 4.6 Tcf in 2015.
About 75 percent of the capacity additions are expected to occur after
2005, as gas demand grows more rapidly than storage capacity requirements
during the next five years.
Part of the new capacity will provide storage operators with increased
operating flexibility and augment changing needs of the power generation
and industrial sectors. These two sectors are expected to account for
nearly 80 percent of growth in gas consumption between 1998 and 2015. (GRI
projects the nation's gas demand will increase 50 percent, from 21.3 Tcf in
1998 to 32.8 Tcf in 2015.)
The added storage capacity will require a gas industry investment of nearly
$5.0 billion (1998 dollars) between 1998 and 2015, or about $270 million
per year, the study estimates.
The study, conducted for GRI by Energy and Environmental Analysis Inc.,
Arlington, Va., identifies several trends that will drive future storage
requirements, including:
* High consumption by power generation and industrial markets dampens
seasonal volatility. Since these sectors have relatively flat
year-round load profiles, they act to compliment rather than
stimulate short term demand swings in traditional residential and
commercial applications which drive the need for increased storage
capacity to overcome seasonal differences.
* Increases in the value of market-area storage to accommodate significant
growth in gas usage for power generation are anticipated. Due to
improvements in technology, favorable economics, and low emissions,
natural gas is expected to be the preferred incremental fuel for
power generation for the foreseeable future.
* Pipeline restructuring is changing the role and value of storage. Most
notable are the development of secondary markets for storage and
pipeline capacity, growth of market hubs and gas marketers, and a shift
toward market-based rates.
* Storage services are likely to become more efficient as a result of
local distribution company restructuring. Storage operators are
expected to have a direct profit motive to maximize the value of storage
and are likely to offer new services that use existing facilities more
effectively.
"These trends are already beginning to have a major impact on gas storage
operations and will only be magnified in the future," said John Cochener,
GRI project manager and principal analyst-resource evaluation. "We are
already seeing increases in the value of well-placed storage facilities,
particularly those able to capitalize on regulatory changes that allow for
greater operating flexibility. The reduction in regulatory constraints will
allow storage market players even greater latitude in the future to
experiment with innovative competitive tools. This will result in greater
flexibility in the timely movements of gas to where it's required.
Conversely, high-cost storage operators, who fail to respond to the
changing market by offering more flexibility, may eventually find
themselves at a competitive disadvantage in the future and may see the
value of their storage asset stagnate."
The study is GRI's most comprehensive look at gas storage markets. Included
is an analysis of changes in storage capacity, services, customer usage
patterns and costs, as well as proposed storage projects. LNG and
Propane-Air are covered in addition to traditional types of storage
facilities. The study also reviews future storage requirements, costs
associated with expanding different types of storage capacity, and the
merits of different storage locations.
The study also looks at storage capacity under existing contracts. One
finding is that the average length of time until contract expiration for
firm storage contracts has declined from 6.8 years in 1996 to 6.2 years in
1999. More than half of the existing contracts in spring 1999 will expire
by 2004. By 2006, 70 percent of existing contracts will have expired.
Further, storage operators will generally be replacing storage contracts
negotiated by local distribution companies (with guaranteed rates of
return) with contracts negotiated by the growing ranks of gas marketers,
who are under competitive pressure to hold down costs.
The number of years remaining under existing storage contracts varies by
customer type, according to the study. Currently, cogenerators and
independent power producers have the longest remaining contract lengths,
followed by pipelines, gas utilities and marketers. Electric utilities and
industrial customers have the shortest average contract lengths remaining.
Listed in the study are the top 50 storage capacity holders.
Questions about the study or ordering should be addressed to Kelly Murray,
GRI Baseline Center, Arlington, Va., at 703-526-7832; by fax at
703-526-7805; or by E-mail: mailto:[email protected] <<a href=> The study
(GRI-99/0200) can be ordered directly from the GRI Document Fulfillment
Center by fax at 630-406-5995. The report is $250 for GRI members and $325
for nonmembers, plus shipping and handling. |
Section 4.1 -- FERC has held in VEPCO (I think) that the requirement to
continue to pay for studies ends when the IA is executed or filed unsigned at
FERC.
Mary Hain
03/15/2001 06:20 PM
To: [email protected]
cc: James D Steffes/NA/Enron@Enron, Christi L Nicolay/HOU/ECT@ECT
Subject: Re: Draft interconnection procedure
As I mentioned over the phone, the general provisions of your tariff should
be modified so that they apply to generator interconnection (e.g., the
dispute resolution provision of the tariff currently only applies to
"Transmission Service" not interconnection service) Although I haven't done
a detailed review of PGE's tariff I noted similar concerns about Sections 6,
7.3, and 11. Also "transmission service" should be capitalized.
Some Other suggestions:
Preamble - Sentence three - delete: "[t]hese Interconnection Procedures do
not provide for transmission service on the Transmission System." Insert:
"These Interconnection Procedures apply only to the receipt point portion of
Transmission Service on the Transmission System."
Sentence four - delete "of the Transmission System" Parts II and III are
defined terms.
Section 2.2 - Under this provision, if the Interconnection Customer makes
changes to the information supporting its interconnection request that
"materially affect its interconnection" it can lose its place in the queue.
Given how much discretion this gives PGE, "materially affect" should be a
defined term or have a standard for its application.
Section 3.1: Revise the last sentence as follows "The Interconnection
Customer must execute, complete, and return . . . "
Further PGE should add a provision indicating that if its merchant function
desires interconnection that it should have to follow the interconnection
procedures.
Section 3.4 This section should be amended to require that the short circuit
and stability study take into consideration higher queued projects.
Section 3.4(iii): Power flow studies are only necessary for transmission
service not just for interconnection. Accordingly, Section (iii) should be
changed to have the information studied for the customer's information only
or to say that it is not related to the interconnection queue.
Section 4.1 - When does the customer's responsibility to respond to
higher-queued projects end? Does this extend the 60-day period every time it
happens?
Section 4.4
In sentence two - Delete "Network Upgrade necessary to remove overloads and"
Work the following definitions into Section 4.4:
Interconnection Facilities means the local equipment necessary to connect the
plant to the point of interconnection including increasing the capacity of an
existing local transmission line(s) to loop the lines into the plant in the
case where the capacity of the line is less than the capacity of the
generating plant under good utility practice.
Network Upgrades mean modifications beyond Interconnection Facilities
required for safe and reliable connection of the generating plant to the
utility system. They do not include transmission changes required to deliver
power beyond the point of interconnection.
In sentence three delete: modifications or additions to the Transmission
Provider's transmission lines and substations and add "Network Upgrades."
Proof-read and correct section numbers.
To: Mary Hain/HOU/ECT@ECT
cc: James D Steffes/NA/Enron@Enron, [email protected]
Subject: Re: Draft interconnection procedure
Comments:
2.3 Delete last sentence. If Enron is already in the queue (or
considered in a queue) before a TP's interconnection procedures are filed at
FERC, we don't want to have to resubmit something within 15 days in order to
remain in the queue. I don't think this is necessary and all are protected
because pre-existing requests will be posted on OASIS on the queue.
4.3 Enron has argued for 60 days consistent with the OATT times (lost
unfortunately). It may look odd for PGE to ask for 90 days. PGE is
protected because if it legitimately takes longer than 60 days, you send a
notification.
6 ((I realize that this language was included in CP&L, but recommend these
changes for PGE.)
6.1 Add after "as modified by the Commission" "if Customer chooses to
commence construction."
6.2 Modify last sentence -- The Agreement will provide milestones toward
placing the generator in service that the Interconnection Customer must make
reasonable progress toward or it will lose its queue priority (after
notification and opportunity to remedy.)
Thanks.
Mary Hain
03/13/2001 12:10 PM
To: Christi Nicolay
cc: James D Steffes/NA/Enron@Enron, [email protected]
Subject: Draft interconnection procedure
Since EPMI doesn't have any PGE interconnection requests pending, Jay Dudley
agreed to allow us to review PGE's draft FERC interconnection filing. As I
mentioned to you on Friday, PGE is trying to file this week so we have a
quick turn around time. I'm going to try to read it today.
---------------------- Forwarded by Mary Hain/HOU/ECT on 03/13/2001 10:09 AM
---------------------------
From: JAY DUDLEY/ENRON@enronxgate on 03/12/2001 07:39 PM CST
To: Mary Hain/HOU/ECT@ECT
cc: Frank Afranji/ENRON@enronxgate, MICHELE FARRELL/ENRON@enronxgate
Subject: Draft interconnection procedure
Mary - here is a draft of what the PGE interconnection procedure will be.
As I said, much of this is from VEPCO and Carolina Power.
Michele is redrafting it to be compatible with our OATT.
Let me know your comments as we want to file with FERC this week.
Thanks.
Jay. |
BUSINESS HIGHLIGHTS
Enron Industrial Markets
The Transaction Development group (TD) is responsible for corporate development, transaction execution and portfolio management activities within EIM. TD is responsible for asset and corporate acquisitions to support EIM's efforts in the Forest Products and Steel industries. TD works with EIM's Forest Products and Steel Origination groups to structure and execute complex transactions for EIM's customers. TD also manages EIM's equity investments, such as EIM's ownership position in Papier Masson, Ltee, a paper mill in Quebec, Canada.
TD is comprised of approximately 20 professionals with a wide range of backgrounds including investment banking, commercial banking, management consulting, law, project development, accounting and engineering. In addition, the majority of the analysts and associates within EIM work in TD since it provides a strong base of deal experience for junior members of our organization.
Enron Freight Markets
Enron Freight Markets has continued to expand the transportation services offered to its customers and completed several flatbed truck moves outbound from Georgia this week. There was a shortage of flatbed equipment supply in this market and EFM was able to obtain more than three times the normal margin on each move.
IN THE NEWS
"Enron's bilateral internet trading platform, EnronOnline, was launched in November 1999 and is the largest e-commerce site on the planet based on the value of its transactions. As EPRM went to press, it had average daily trading volume of $3.5 billion, accounting for nearly 50% of the company's revenues from wholesale marketing activities." -- Energy Power Risk Management, May 2001
WELCOME
New Hires
EIM - Cheryl Lindeman
ENA - Chris Bystriansky, Paula Craft, Eugene Lee, Bhalachandra Mehendale, Sarah Wooddy
Transfers (to or within)
ENA - Grace Taylor, Steven Irvin, Dina Snow
NUGGETS & NOTES
Enron is hosting the Chicago Energy Risk Management Seminar at The Drake Hotel in Chicago on June 14, 2001. Topics include: Power Outlook, Natural Gas Outlook, Hedging Strategies, Weather Risk Management and Pulp and Paper Risk Management. The RSVP deadline is June 8th so please contact Laura Pena as soon as possible at x 3-5376. This is a great event for "new" as well as established customers. There will be a cocktail reception immediately after the presentations. Enron will also be hosting seminars in Atlanta, Houston, Denver and San Francisco. Dates to be announced soon.
Travel tip of the week:
Flights reserved through Travel Agency in the Park provide you with $150,000 of flight insurance at no additional charge.
EnronOnline Statistics
Below are the latest figures for EnronOnline as of May 29, 2001.
* Total Life to Date Transactions > 1,015,000
* Life to Date Notional Value of Transactions > $610 billion
NEWS FROM THE GLOBAL FLASH
Enron arranges first gas pipeline import into Italy
Enron has continued its pioneering activities in the Continental gas market by arranging the first gas import into Italy. The Italian team worked with the Continental Gas desk to arrange this strategically important agreement with Blugas SpA., the wholesale gas company formed by the municipalities of Cremona, Lodi, Mantova and Pavia in north-eastern Italy. Enron has sourced 100,000 cubic metres per day of natural gas from northern Europe to transport to Italy, transiting it through Germany and Switzerland, despite fierce resistance from Ruhrgas and TransitGas respectively.
Aside from isolated LNG imports by incumbent monopolies this is the first time that any company has managed to import natural gas by pipeline into Italy since the Italian gas sector was officially liberalised in August 2000. The gas, which started flowing at 06.00 on Thursday 17th May 2001, will be used to meet the needs of two thirds of Blugas' residential customers within the four municipalities. The current contract lasts for five months.
Congratulations to Fabio Greco, Carsten Haack, Didier Magne, Michael Schuh, Marco Lantieri and Daniela Uguccioni.
Enron in the Middle East
Enron has relinquished its stake in Dolphin Energy, the joint venture company formed to develop gas reserves in Qatar.
Enron has agreed to transfer its 24.5 per cent stake in the project to the United Arab Emirates Offset Group (UOG), the majority shareholder. The agreement allows Enron to deploy capital elsewhere and gives UOG the opportunity to seek new partners before the project moves into its next phase.
Development of the Emden/Oude gas hub moves ahead fast
An important milestone in the evolution of the new gas trading hub on the Dutch-German
border was reached last week. Last Friday some of the major European gas players held a meeting to officially establish the Emden/Oude gas hub. Although Enron had already initiated the development of the Emden/Oude hub by making a market through EnronOnline as early as December 2000, the goal of this meeting was to set up a working group similar to the Zeebrugge focus group who can work on setting a legal framework for the Emden/Oude hub.
Enron was elected as the only new market entrant in this group, reflecting the high level of respect industry peers have for Enron as a major player in the Continental gas market -- even from incumbents!
LEGAL STUFF
The information contained in this newsletter is confidential and proprietary to Enron Corp. and its subsidiaries. It is intended for internal use only and should not be disclosed.
<Embedded Picture (Metafile)> |
_________________________________________________________________
F O O L W A T C H
Friday, October 20, 2000
[email protected]
_________________________________________________________________
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Close Change %Change
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FOOL ON THE HILL: COPPER MOUNTAIN LOW
When The Motley Fool interviewed Copper Mountain's CEO
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Rule Maker: Unanswered Questions at Microsoft
One Fool isn't sure what to make of Microsoft's Internet
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NEWS: EBAY RECORDS STELLAR Q3
Third-quarter results show eBay is progressing toward its goal
of becoming "the world's largest trading platform."
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THE WEEK IN REVIEW: YOUR EYE ON THE HORIZON
Jerry Thomas finds a silver lining in the recent Wall Street
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FOOL RADIO: Q3 EARNINGS REPORTS AND LARRY MCCLOSKEY
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NEWS: COKE NEEDS TO SPARKLE, NOT PERFORM
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at Coke, but can the company live up to its steep share price
and premier name?
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RULE BREAKER: INVESTING FOR PEACE OF MIND
After last week's crazy market, this Fool is looking for
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FOOL PLATE SPECIAL: RESEARCH IN MOTION SICKNESS?
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FOOLISH FOUR: SAVING FOR RETIREMENT
Time is the most important factor in investing success. Putting
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TAXES: DEDUCTIONS FOR HOME COMPUTERS
Roy Lewis provides qualifications and guidelines for taking tax
deductions for a home computer.
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NEWS: ERICSSON -- LOSING THE MOBILE PHONE RACE
Ericsson announced earnings yesterday: Super infrastructure
revenues, miserable mobile phone ones.
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HOT TOPICS
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BREAKFAST WITH THE FOOL: COMMERCE ONE REPORTS Q3
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FRIBBLE: THE INVESTING MARATHON IS ON
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MsgId: msg-10188-B10204010Address.msg-18:48:17(10-20-2000)
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Message-Recipient: [email protected] |
October 4, 2000
Notice 00-344
Implied Bid or Offer Functionality Returns to NYMEX ACCESS
Effective Sunday evening, October 8, 2000 (trade date October 9, 2000), the
NYMEX ACCESS electronic trading system will begin offering implied trading
functionality, pending approval of necessary rule changes by the Commodity
Futures Trading Commission. This feature will once again create "implied"
bids and offers in all futures, intra-market calendar spread, and 1:1
inter-commodity spread markets based on orders in related markets.
Implied Orders in General
Implied bids and offers are generated by the system based on individual
contract or spread orders that have been entered into the system. For
example, if someone places a spread order to buy heating oil and sell crude
oil at a set differential, the system will automatically seek the best offer
to sell heating oil and the best bid on crude oil and create an implied bid
in heating oil and an implied offer in crude oil, based on the differential
to the other market. To do this, the system examines the outright orders
(orders directly entered into the system) and creates bids and offers that
are implied by the combination of specific outright orders. The system then
creates the "implied" bid or offer and displays it as an order that may be
traded against. If a trader trades against this implied order, then the
outright orders that combined to create the implied order will trade.
Two-Way Implication Between the Futures and the Spread Markets
Orders entered into a commodity,s outright futures market will combine to
create implied spread orders both as calendar spreads and 1:1
inter-commodity spreads . The reverse is also true, i.e., orders entered
into the calendar spread market or the 1:1 inter-commodity spread market can
combine with other futures orders to create implied futures orders.
Implied Spread Orders Generated from Other Spread Orders
Implied spread orders can be created from the combination of other spread
orders. For example, two separate calendar spread orders, one to buy a
January contract and sell a February contract, and another to buy a February
contract and sell a March contract, will create an implied order for a buy
January/sell March spread. The system will also generate implied
inter-commodity spread orders from the combination of calendar spread orders
and other inter-commodity spread orders, and it will generate implied
calendar spread orders from the combination of inter-commodity spread orders
and other calendar spread orders.
Implied Order Creation and the Depth-of-Market
Implied orders will be displayed only if the implied order,s price is the
best price in the market. Consequently, a particular market,s best price
volume may be composed of outright volume, implied volume, or a combination
of outright and implied volume. The depth-of-market view of a contract will
only show this combination of implied and outright volume at the contract,s
BEST bid and offer prices. Implied orders with prices that are NOT at the
best price for a contract will NOT show in the depth-of-market view.
Please note that although the depth-of-market will not display volume from
implied orders at prices other than the best, if a sweep order (an order to
purchase a certain number of contracts within a predetermined price range) is
entered with a price that would trade through the undisplayed implied order,
the implied order will be filled.
Color Scheme to Distinguish Between Outright and Implied Orders
If the volume of the best bid or offer is due completely to outright orders,
then the color will be displayed in BLACK font. If the volume of the best
bid or offer is due completely to implied orders, then the color will be
displayed in RED font. If the volume of the best bid or offer is a
combination, then the color will be displayed in PURPLE font. (Warning: Do
not change the Bid or Ask Color price cells -- which is done in the <View>
<Preferences> <Attributes> screen --to the same colors that appear in the
Implied Prices (Full) and (Part) fields -- also located in the same <View>
<Preferences> <Attributes> screen. If you do, you will not be able to view
the implied prices.)
Cross Orders Must Be Turned Off
The current version of the implied functionality requires that cross order
entry be turned off. Therefore, there is no ability to directly enter a
cross order (a single order for a trade to be transacted for two customers
accounts by the same broker) into the NYMEX ACCESSc system (This
functionality is planned as a future enhancement). Orders should be entered
in the order received from the customers. If you have two orders in hand
that would normally be entered as a cross order, you should enter the order
received first, wait ten seconds, and then enter the order received second.
Options Orders
This release does not support implied options orders in any options market.
More Information
If you have additional questions concerning the implied market functionality,
please call the NYMEX ACCESSc Control Center (NACC) at 1-800-438-8616 US,
0800-89-0813 (UK), or 212-299-2670 (Far East). The NACC can provide you with
a more descriptive document concerning the implied functionality and answer
any questions that you may have.
__________________________________________________
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"It's a Girl" performed by Weave Dance Company
Weave Dance Co. will perform May 24-26 at 8:00 p.m. at Stages Repertory
Theater, 3201 Allen Parkway at Waugh, Call 713-52STAGE for tickets. This
performance, called "It's a Girl!" celebrates pregnancy and motherhood.
Donations to the Houston Area Women's Center will be collected at the
performance. Any of the following items are welcome: non-perishable,
pre-packaged healthy food snacks such as granola bars and boxed juices, baby
supplies such as formula, diapers, wet wipes, baby lotion, baby shampoo,
pacifiers, socks, plastic bottles, diaper bags, crib sheets for portable
cribs and swim suits and flip flops for children age 4 and older.
Star Wars: Films (May 4-25)
See all four completed films of the legendary Star Wars saga on the big
screen! The MFAH presents special editions of Episodes IV-VI and Episode I in
the newly renovated Brown Auditorium with Dolby Digital dts sound and stadium
seating.
Star Wars: Episode IV-A New Hope
Directed by George Lucas
(USA, 1977, 125 min.)
Friday, May 4, 7:30 p.m.
Saturday, May 5, 11:00 a.m.
Star Wars: Episode V-The Empire Strikes Back
Directed by Irvin Kershner
(USA, 1980, 120 min.)
Friday, May 11, 7:30 p.m.
Saturday, May 12, 11:00 a.m.
Star Wars: Episode VI-Return of the Jedi
Directed by Richard Marquand
(USA, 1983, 132 min.)
Friday, May 18, 7:30 p.m.
Saturday, May 19, 11:00 a.m.
Star Wars: Episode I-The Phantom Menace
Directed by George Lucas
(USA, 1999, 133 min.)
Friday, May 25, 7:30 p.m.
Saturday, May 26, 11:00 a.m.
Tickets go on sale at the Brown Auditorium ticket booth 30 minutes before
show time. The ticket booth is located on the lower level of the Caroline
Wiess Law building.
General admission is $5. Matinee admission (show times before 5:00 p.m.) is
$4. Enron employees with ID receive a $1 discount. Discount passes (10
admissions) are $40 for nonmembers and $35 for members. Children 5 and under
are free. Films are screened in Brown Auditorium in the museum's Caroline
Wiess Law building, 1001 Bissonnet. Free parking is available. For more
information, please call 713-639-7515 or visit our website at www.mfah.org.
Mark Your Calendars!...Bring Your Child To Work Day will be Friday, June
29th. More details to come...See Volunteer section below to for volunteer
opportunities!
Join us in Dublin or Honolulu ----Joints in Motion is a marathon training
program for walkers and runners that is aligned with a fundraising effort for
the Arthritis Foundation - Please call for more information at
713-529-0800.
Many volunteers are needed to help with the planned activities for the Enron
Children on June 29th. If you're interested, send your name and phone
extension to workperks.enron.com.
Support KidSave and Help Miracles Happen. Every Summer.
Kidsave,s Summer Miracles Program enables orphaned children ages 5 to 11 to
travel to the US and Canada, live with families and attend day camp. The
program gives families who may be concerned about the problems of adopting
an older child a chance to meet, get to know and in the best-case scenario,
fall in love with a child. The program gives prospective parents an
opportunity to see and evaluate first-hand the challenges and rewards of
adopting an older child.
In 1999 and 2000 Kidsave and adoption agency partners placed 432 children -
96 percent of children who participated in the program. Generally, 85 to 90
percent of children who participate in the program find homes easily through
the program. The remaining 10 to 15 percent require more work.
Kidsave believes every child deserves a family. We are committed to placing
all children who participate in the Summer Miracles Program in permanent
families or family-like environments.
We are looking for families to host children, and for others who want to
help us make the camp program happen for these 250 children. As a
non-profit organization, Kidsave depends on donations to raise the money to
bring these children here and find them families. Please call Tonya Hoppe at
281.286.8948 or [email protected] to get involved in Houston,s Kidsave
program.
Enron and Kidventure Camps are proud to bring you Camp Enron Summer 2001.
Celebrating our third year, Camp Enron will once again be providing summer
camp for children, ages 5-13, of Enron employees and contractors.
This year, camp will be May 29-August 10. Ten, one-week sessions will be
available and families may choose to attend any or all sessions. Each camp
week is Monday through Friday.
The cost is $150 per week and includes all transportation, field trips and
activities. A deposit of $50 per week is all that is needed to reserve your
sessions. The deadline to register is Monday, May 21.
To register, log on to: http://www.kidventurecamp.com/camp_enron.htm.
Spaces are limited.
Enron parents simply ride to work with their children and check them in to
the Energizer in the morning with the Camp Enron Team. Enron Campers are
loaded on Coach USA Buses and transported to our nearby camp. At the end of
the day campers are brought back to the Energizer for parents to check out.
It's that easy!
For more information please contact:
web site: www.kidventurecamp.com
call Kidventure: 713.960.8989
e-mail: [email protected]
Have News to Share?
To post news or events in Enron In Action, please e-mail your information to
[email protected]
no later than 12:00 noon the Thursday prior to the next Monday,s mailing. |
NETWORK WORLD NEWSLETTER: PHIL HOCHMUTH on
LINUX
12/28/01
Today's focus: Linux: HP sharpens its Linux blade servers
Dear Wincenty Kaminski,
In this issue:
* Blade servers for Linux coming soon from HP
* Links related to Linux
* Featured reader resource
_______________________________________________________________
This newsletter sponsored by
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_______________________________________________________________
THE NETWORK POWER: 2001
Despite the roller coaster ride the economy has put us on this
year, networking remains a thriving, vital industry. In Network
World's Annual Signature Series POWER ISSUE, you'll find
profiles of companies exercising their influence, people
grabbing opportunity and technologies making their mark in the
enterprise. Find out who has exerted the power in 2001 at:
http://nww1.com/go/ad221.html
_______________________________________________________________
Today's focus: HP sharpens its Linux blade servers
By Phil Hochmuth
Users looking to cram lots of Linux servers into a small area
should look into Linux blade server technology soon to be
released from Hewlett-Packard.
Blade servers are complete server systems - including
processors, hard drive, memory and network interface cards -
built onto a single circuit board which fits into a chassis
with a CompactPCI (CPCI) bus. Instead of regular servers, which
talk to each other over network cables with Fast or Gigabit
Ethernet, the server blades communicate with other servers over
the CPCI bus. This eliminates the need for cabling to
interconnect servers, allows servers to share a common power
supply, and provides up to 1G bit/sec speeds between the
blades. Up to 38 blade servers can fit in a standard CPCI bus.
HP's new blade servers are being billed for applications such
as streaming media and Web hosting. The bc1100 model blade will
come with a 700-MHz Intel Pentium III processor, 312M bytes of
RAM and a 30G-byte hard drive. The server blades will support
Red Hat Linux, SuSE and Debian.
The bc1000s could be used by enterprises looking to consolidate
several servers in a rack - such as Web, database, file and
application servers - into a smaller space for easier
management. The platform would also be used to shrink down a
large, collocated Web server farm into one box, saving on
collocated space charges.
Network professionals will be able to get their hands on the
bc1000 Linux server blades in January at a cost of $1,925 per
server. Don't cut yourself!
_______________________________________________________________
To contact Phil Hochmuth:
Phil Hochmuth is a staff writer for Network World, and
a former systems integrator. You can reach him at
mailto:[email protected].
_______________________________________________________________
Register your company on Buy IT, NW Fusion's Vendor Directory
and RFP Center and generate new business quick and easy!
Promote your brand across our network and access millions of
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buyers of IT services. Get listed now!
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_______________________________________________________________
RELATED EDITORIAL LINKS
Check out other Linux server options from HP
http://www.hp.com/products1/servers/linux/
Read more about CPCI and blade server technology
http://www.nwfusion.com/archive/2000/114653_12-18-2000.html
Breaking Linux news from Network World and around the 'Net,
updated daily: http://www.nwfusion.com/topics/linux.html
Archive of the Linux newsletter:
http://www.nwfusion.com/newsletters/linux/index.html
_______________________________________________________________
FEATURED READER RESOURCE
Network World Fusion's The Edge site
Network World Fusion's The Edge is a resource devoted to the
advances in service-provider networks that are shaking up the
old telecom order. In classic Network World fashion, we focus
on the hardware, software and services coming to market - but
this time from the vendors targeting legacy carriers, new
alternative local carriers, ISPs and application service
providers. http://www.nwfusion.com/edge/index.html
_______________________________________________________________
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Copyright Network World, Inc., 2001
------------------------
This message was sent to: [email protected] |
---------------------- Forwarded by Steven P South/HOU/ECT on 01/25/2001
02:20 PM ---------------------------
"Ledene, Ben" <[email protected]> on 01/22/2001 10:33:40 AM
To: "Steve South (E-mail)" <[email protected]>
cc:
Subject: FW: Wild Goose Open Season
Steve, it was good seeing you again in Reno. Here is a copy of the package
that was sent out to Frank Ermis on January 12. If you have any questions,
please give me a call. Thanks. Ben.
> -----Original Message-----
> From: Ledene, Ben
> Sent: Friday, January 12, 2001 2:02 PM
> To: Barry Brunelle (E-mail); Brad Barnds (E-mail); Brent Rook (E-mail);
> Craig Pentelichuk (E-mail); Dave Clare (E-mail); Dave Kohler (E-mail);
> David Ellis (E-mail); Denette Johnson (E-mail); Don Clements (E-mail);
> Frank Ermis (E-mail); Gary Venz (E-mail); Joseph Sestak (E-mail); Kevin E.
> Coyle (E-mail); Kevin Legg (E-mail); LoreLei Reid (E-mail); Monica Padilla
> (E-mail); Nathan Reinhardt (E-mail); Paul Gendron (E-mail); Ray McCluer
> (E-mail); Scott W. Walton (E-mail); Stephen J. Swain (E-mail); Susan Jones
> (E-mail); Tom Toerner (E-mail); Weaman Ng (E-mail)
> Cc: Chris Price (E-mail); Hogue, Bill; Amirault, Paul
> Subject: Wild Goose Open Season
>
> Long Term Firm Base Load Storage ("BLS") Service Open Season
>
> For service commencing April 1, 2001
>
> Customer offers required by 2:00 pm MST, Friday January 26, 2001
>
> Customer offers must be reasonably open for acceptance by Wild Goose
> Storage Inc. until 2:00 pm MST, Thursday February 1, 2001 subject only to
> significant changes in market conditions and final approval of customer's
> management. Preference for offer acceptance will be toward longer-term
> contracts (5 years) and offers, which exceed 100% of our rack rate. The
> offer sheets are provided in Microsoft Excel and are set up to calculate
> the percentage of rack rate for your convenience. It is the intent of Wild
> Goose Storage Inc. to negotiate and conclude contracts with the
> participants providing acceptable offers in this open season as close as
> possible to February 1, 2001. Wild Goose Storage Inc. reserves the right
> to not necessarily accept the highest priced offer nor to award all or any
> of the storage capacity available.
>
> A reasonable summary of the main terms and features of BLS service is
> attached for your convenience (Attached File - BLS Summary), but should
> not be used as the sole terms by which service is to be provided. All
> service is subject to the Tariff Schedules for Natural Gas Storage Service
> of Wild Goose Storage Inc., as approved by the Public Utilities Commission
> of the State of California.
>
> For more information about Wild Goose Storage Inc. or to download a copy
> of the entire tariff please refer to our web site at
> www.wildgoose-storage.com.
>
> Customer offers must include the following:
>
> A) Completed Offer Forms (Attached File - Offer Sheets) for each year of
> service including:
>
> * the amount of Inventory Capacity Required for each April to March
> period
> * the amount of Maximum Daily Injection Quantity Required by month
> * the amount of Maximum Daily Withdrawal Quantity Required by month
> * the Total Storage Demand Charge for each April to March period
> * the Injection Commodity Rate for each April to March period
> * the Withdrawal Commodity Rate for each April to March period
> * a signature from an authorized employee of the company verifying the
> offer for each April to March period
>
> In the 'Offer Sheets' file attachment you will find the following tabs at
> the bottom:
>
> * offer sheet for the first year of service April 1, 2001 to March 31,
> 2002 (see Service Restriction note below)
> * offer sheet for to be used for years 2 and beyond, please print out
> a copy for each April to March period
> * a manual offer sheet which can be printed out and filled in by hand
> * an example offer
>
> B) An executed Storage Services Agreement (Attached File - Storage
> Services Agreement) unless your company already has one on file with Wild
> Goose Storage Inc.
>
>
> Service Restriction
>
> Do to the volume of business already in place for the first year of
> service, there is a limited amount of Maximum Daily Injection Quantity
> available. Therefor for all offers will be limited to 10,000 Dth/day of
> Maximum Daily Injection Quantity during the period of April 1, 2001
> through March 31, 2002. All other terms of service are reasonably open for
> the first year and beyond.
>
> Rack Rates
> Our rates are 'market based' meaning they are fully negotiable, but our
> 'rack rates' are as follows:
> Monthly Storage Demand Charges
> * Inventory($/Dth) $0.03
> * Injection ($/Dth/day) $3.00
> * Withdrawal ($/Dth/day) $2.00
>
> Variable Charges
> * Injection Commodity Rate ($/Dth) $0.02
> * Withdrawal Commodity Rate ($/Dth) $0.02
>
> Fuel Charges
>
> In addition to the Demand and Variable charges described above, fuel costs
> are also charged based on actual consumption by customer and the value of
> the gas on a daily basis. Fuel consumption is expected to be between 1.25
> to 1.75%. For details, please refer to the Wild Goose tariff.
>
> If you have any questions about this matter or need hard copies, please
> contact either Ben Ledene at 403-266-8192 or Chris Price at (925)
> 243-0350.
>
>
> <<Offer Sheets.xls>> <<Wild Goose Open Season.doc>> <<BLS Summary.doc>>
> <<Storage Services Agreement.doc>>
- Offer Sheets.xls
- Wild Goose Open Season.doc
- BLS Summary.doc
- Storage Services Agreement.doc |
_____
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Lessons of Enron...The value of diversification.
Dear Valued Customer,
One of the harshest lessons to emerge from the $60.7 billion wipeout of Enron has been the losses suffered by Enron employees who placed too much faith - and too many of their limited retirement assets - in company stock.
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by Emily Li, Customer Support
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Q: How do I account for real estate investments in my portfolio?
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To include rental income in retirement:
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Financial Engines founder and Nobel laureate Bill Sharpe was recently interviewed by InvestmentAdvisor.com on where most people go wrong in making financial decisions and other timely topics. http://www.investmentadvisor.com/mySearch/0102colgluck.html <http://wwwrd.0mm.com/eng063100+266998867>
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TODAY'S HEADLINES
The New York Times on the Web
Monday, May 7, 2001
------------------------------------------------------------
For news updated throughout the day, visit www.nytimes.com
QUOTE OF THE DAY
=========================
"Que ser"
- SISTER MIRIAM THISSEN, a nun who will donate her brain to a study on aging.
Full Story:
http://www.nytimes.com/2001/05/07/health/07NUNS.html
NATIONAL
=========================
Most Cities in U.S. Expanded Rapidly Over Last Decade
http://www.nytimes.com/2001/05/07/national/07CITI.html
Nuns Offer Clues to Alzheimer's and Aging
http://www.nytimes.com/2001/05/07/health/07NUNS.html
Washington Is Losing Its Only Public Hospital
http://www.nytimes.com/2001/05/07/health/07HOSP.html
Now You Need an Area Code Just to Call Your Neighbors
http://www.nytimes.com/2001/05/07/business/07DIGI.html
/--------------------- ADVERTISEMENT ---------------------\
What's ahead for business in 2001?
Get the Times's perspective on business and the economy in
2001, both foreign and domestic. Explore our Web exclusive
interactive timeline of business in 2000 that ranges from
the AOL Time Warner merger to the plunging Nasdaq with an
essay by Floyd Norris, the Times's senior financial
correspondent.
http://www.nytimes.com/library/financial/2001outlook1-index.html?ibd
\---------------------------------------------------------/
POLITICS
=========================
News Analysis: To European Eyes, It's America the Ugly
http://www.nytimes.com/2001/05/07/world/07EURO.html
White House Debates Fate of Pollution-Control Suits
http://www.nytimes.com/2001/05/07/politics/07POLL.html
Children Step Up to Plate at White House
http://www.nytimes.com/2001/05/07/politics/07TBAL.html
Public Lives: When She Talks Arms, Washington and Moscow
Listen
http://www.nytimes.com/2001/05/07/politics/07LIVE.html
INTERNATIONAL
=========================
Pope, in Damascus, Reaches Out for Unity With Mosque Visit
http://www.nytimes.com/2001/05/07/world/07POPE.html
Space Tourist, Back From 'Paradise,' Lands on Steppes
http://www.nytimes.com/2001/05/07/science/07SPAC.html
News Analysis: To European Eyes, It's America the Ugly
http://www.nytimes.com/2001/05/07/world/07EURO.html
Spanish Politician Killed; Basque Group Suspected
http://www.nytimes.com/2001/05/07/world/07BASQ.html
BUSINESS
=========================
Energy Trader Said to Be Close to Acquiring Gas Producer
http://www.nytimes.com/2001/05/07/business/07DEAL.html
Privacy Policy Notices Are Called Too Common and Too
Confusing
http://www.nytimes.com/2001/05/07/business/07PRIV.html
Now You Need an Area Code Just to Call Your Neighbors
http://www.nytimes.com/2001/05/07/business/07DIGI.html
Stay-at-Home Instinct Fosters Flush Times at 'Shelter'
Magazines
http://www.nytimes.com/2001/05/07/business/07MAGS.html
TECHNOLOGY
=========================
Dragon Systems Sputters After Belgian Suitor Fails
http://www.nytimes.com/2001/05/07/technology/07DRAG.html
New Economy: Privacy Concerns for Google Archive
http://www.nytimes.com/2001/05/07/technology/07NECO.html
Modern Plans for an All-but-Forgotten Mail Delivery System
http://www.nytimes.com/2001/05/07/technology/07TUBE.html
E-Commerce Report: An Online Vintage, Still Unproved
http://www.nytimes.com/2001/05/07/technology/07ECOMMERCE.html
NEW YORK REGION
=========================
4 Democrats Spar Cordially in Mayor Race
http://www.nytimes.com/2001/05/07/nyregion/07MAYO.html
For Police Horses, Pasture's Sale Means the Loss of a
Pension
http://www.nytimes.com/2001/05/07/nyregion/07HORS.html
Modern Plans for an All-but-Forgotten Mail Delivery System
http://www.nytimes.com/2001/05/07/technology/07TUBE.html
Trial Set to Begin Over '99 Slaying of 'Soldier of Social
Work'
http://www.nytimes.com/2001/05/07/nyregion/07TRIA.html
SPORTS
=========================
Mussina and Yanks Remind Orioles That Life Is Unfair
http://www.nytimes.com/2001/05/07/sports/07YANK.html
Mussina Sold Out, but Not for Money
http://www.nytimes.com/2001/05/07/sports/07RHOD.html
Mets Save Worst for Last Against Arizona
http://www.nytimes.com/2001/05/07/sports/07METS.html
Carter's Tip Is Difference in Duel of Stars
http://www.nytimes.com/2001/05/07/sports/07SIXE.html
ARTS
=========================
Behind Masterworks for Sale, a Collector's Unerring Eye
http://www.nytimes.com/2001/05/07/arts/07BERG.html
Charlie Sheen Delivers a New Spin to 'Spin City'
http://www.nytimes.com/2001/05/07/arts/07SPIN.html
Writers on Writing: A Retreat From the World Can Be a
Perilous Journey
http://www.nytimes.com/2001/05/07/arts/07ROSE.html
'Urinetown': Wicked Antics Taunt Showbiz
http://www.nytimes.com/2001/05/07/arts/07URIN.html
OP-ED COLUMNISTS
=========================
By WILLIAM SAFIRE: Slavery Triumphs
The United States is off the U.N. Human Rights Commission
because it exposed the commission to be a pack of
hypocrites.
http://www.nytimes.com/2001/05/07/opinion/07SAFI.html
By BOB HERBERT: Life Before Roe
Elizabeth Furse, a retired Democratic congresswomen, endured
the twisted, sadistic solutions that were widespread in the
era before Roe v. Wade.
http://www.nytimes.com/2001/05/07/opinion/07HERB.html
HOW TO CHANGE YOUR SUBSCRIPTION
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http://www.nytimes.com/adinfo |
It's about time! Congratulations on your promotion.
cj
From: Office of the Chairman 01/12/2001 07:31 PM
Sent by: Office of the Chairman
To: All Enron Worldwide
cc:
Subject: Managing Director and Vice President Elections
The Managing Director PRC Committee met this week to elect individuals to
Managing Director and Vice President positions. These employees are
recognized as outstanding contributors to the organization, whose individual
efforts have been instrumental in the continued success and growth of the
company. We are pleased to announce the election of the following new
Managing Directors and Vice Presidents. Please join us in congratulating
these individuals on their new appointments.
Managing Director ) Commercial
Phillip K. Allen, ENA (EWS) West Gas Trading - Houston
Franklin R. Bay, EBS Entertainment on Demand - Houston
Timothy N. Belden, ENA (EWS) ) West Power Trading - Portland
Michael R. Brown, EEL ) Executive - London
Christopher F. Calger, ENA (EWS) West Power Origination - Portland
Joseph M. Deffner, ENA (EWS) Treasury & Funding - Houston
Timothy J. Detmering, ENA (EWS) Corporate Development - Houston
William D. Duran, ENA (EWS) Generation Investments - Houston
Robert S. Gahn, EES Commodity Structuring - Houston
Kevin C. Garland, EBS Broadband Ventures - Houston
Ben F. Glisan, Jr., Corporate ) Global Equity Markets - Houston
Robert E. Hayes, ETS COMM Marketing - Houston
Phillip R. Milnthorp, ENA (EWS) Canada Origination & Trading - Calgary
Managing Director ) Commercial Support
Sally W. Beck, ENW (EWS) Energy Operations Management - Houston
Fernley Dyson, EEL Finance & Support Services - London
Vice President ) Commercial
Gregory Adams, EES MMC Management - Houston
Robert Bayley, EEL-UK Origination ) London
Jack D. Boatman, ETS Market Development ) Houston
Rhenn Cherry, EES Assets/Labor ) Houston
Niamh Clarke, EGM (EWS) Liquids Trading ) London
Peter Crilly, EEL-UK Origination ) London
Derek J. Davies, ENA (EWS) Canada Origination ) Calgary
Mark D. Davis, Jr., ENA (EWS) East Power Trading ) Houston
Charles Delacey, Corporate Finance ) Houston
Paul Devries, ENA (EWS) Canada Origination ) Toronto
Christopher H. Foster, ENA (EWS) West Power Trading ) Portland
Jeffrey F. Golden, EES Corporate Development ) Houston
Michael D. Grigsby, ENA West Gas Trading Group - Houston
Troy A. Henry, EES Bundled Sales-Heavy Industrial ) Houston
Rogers Herndon, ENA (EWS) East Power Trading ) Houston
James W. Lewis, EES Underwriting ) Houston
Christopher Mahoney, EGM (EWS) Liquids Trading ) London
Andrew Marsden, EBS Broadband Ventures ) London
John McClain, EBS Broadband Wholesale Origination ) Houston
Kevin J. McGowan, EGM (EWS) American Coal ) Houston
Albert E. McMichael, Jr., ENA (EWS) Gas Commodity Structuring ) Houston
Ermes I. Melinchon, Central America Origination ) Houston
Steven R. Meyers, EES Consumption ) Houston
Lloyd D. Miller, ENA (EWS) Portfolio Management ) Houston
Michael A. Miller, Wind Development / Execution-General Administration )
Houston
Marcello Romano, EBS EEL-Broadband Trading ) London
David A. Samuels, ENW (EWS) EnronOnline - Houston
Per A. Sekse, EGM (EWS) Global Risk Markets ) New York
Edward S. Smida, EBS Video on Demand ) Houston
Mark Tawney, EGM (EWS) Weather Trading ) Houston
Jon Thomsen, EBS Business Development ) Latin America/Canada ) Portland
Barry L. Tycholiz, ENA (EWS) West Gas Origination - Houston
Frank W. Vickers, ENA (EWS) East Gas Origination ) Houston
Amit Walia, Corporate, Corporate Development ) Houston
William White, EBS Global Bandwidth Risk Mgmt ) Houston
Jonathan Whitehead, EEL EA Trading ) Japan
Mark Whitt, ENA (EWS) West Gas Origination ) Denver
John A. Zufferli, ENA (EWS) Canada Power Trading - Calgary
Vice President ) Commercial Support
Beth Apollo, EEL Financial Operations Executive ) London
Marla Barnard, EBS Human Resources ) Houston
Karen L. Denne, Corporate, Public Relations ) Houston
Georganne M. Hodges, ENA (EWS) Trading, Origination & Power Plant Accounting
) Houston
Phillip Lord, EEL Transaction Support ) London
Peggy Mahoney, EES Marketing ) Communication ) Houston
Steven Montovano, Corporate, Government & Regulatory Affairs ) Dublin
Laura Scott, ENA (EWS) Canada Accounting ) Calgary
Richard C. Sherman, ENA (EWS) Transaction Support ) Houston
Gregory W. Stubblefield, EES Financial Planning & Reporting ) Houston
Dennis D. Vegas, CALME International Public Relations ) Houston
Vice President ) Specialized Technical
Sami Arap Sobrinho, ESA (EWS) Legal ) Houston
Merat Bagha, EBS Sales Engineering ) Houston
Justin Boyd, EEL Legal ) London
Mary Nell Browning, EBS Legal ) London
Jonathan Chapman, EEL Legal ) London
Robert D. Eickenroht, Corporate, Legal ) Houston
Mark Evans, EEL Legal ) London
David Forster, ENW (EWS) EnronOnline ) Houston
Janine Juggins, EEL Tax ) London
Peter C. Keohane, ENA (EWS) Canada Legal ) Calgary
Pinnamaneni V. Krishnarao, ENA (EWS) Research Group ) Houston
Travis C. McCullough, ENA (EWS) Finance Origination, Mergers/Acquisitions )
Houston
Michael Popkin, ESA (EWS) SA- Risk Management/Network Integration ) Houston
Elizabeth A. Sager, ENA (EWS) Physical Trading ) Houston
Richard B. Sanders, ENA (EWS) Litigation ) Houston
John W. Schwartzenburg, EECC Legal ) Houston
Michael D. Smith, EES Legal ) Houston
Marcus Vonbock Und Polach, EEL Legal ) London
Jay C. Webb, ENW (EWS) EnronOnline Systems ) Houston
Vice President ) Technical
Donald R. Hawkins, ETS Quality Management ) Houston
John R. Keller, ETS Engineering & Construction ) Houston |
Mary Hain has resigned her position with Enron. Please remove her from all
your mail lists.
Thank you.
Lysa Akin
Gov't Affairs - Sr. Admin. Ass't.
Enron Capital & Trade Resources Corp.
From: "Christine Elliott" <[email protected]>
03/21/2001 08:55 AM
Please respond to [email protected]
To: "Freedman, Eric (SEA)" <[email protected]>, "Barnes, Arlena"
<[email protected]>, "Stan Berman" <[email protected]>, "Don Brookhyser"
<[email protected]>, "Ray Brush" <[email protected]>, "Kathleen Carr"
<[email protected]>, "Eric Christensen" <[email protected]>, "Warren
Clark" <[email protected]>, "Dahlke, Gary" <[email protected]>,
"Sarah Dennison-Leonard" <[email protected]>, "Early, Michael"
<[email protected]>, "Eden, Jim" <[email protected]>, "Empey,
Marshall" <[email protected]>, "Peter Feldberg"
<[email protected]>, "Garnett, Gerry"
<[email protected]>, "Brian Gedrich" <[email protected]>,
"Richard Goddard" <[email protected]>, "Hain, Mary"
<[email protected]>, "John Haner" <[email protected]>, "Jack Hockberger"
<[email protected]>, "Huntsinger, Marlene"
<[email protected]>, "Carl Imparato" <[email protected]>, "Kaake, Jon"
<[email protected]>, "Bud Krogh" <[email protected]>, "Dave Lamb"
<[email protected]>, "Steve Larson" <[email protected]>, "Malcolm McLellan"
<[email protected]>, "Terry Mundorf" <[email protected]>, "Paul Murphy"
<[email protected]>, "Doug Nichols" <[email protected]>, "Osborn, Dave"
<[email protected]>, "Patterson, Leroy" <[email protected]>, "Patton, Will"
<[email protected]>, "Phillips, Deanna" <[email protected]>,
"Ransom, Rebecca" <[email protected]>, "Chris Reese"
<[email protected]>, "Richardson, Shelly" <[email protected]>, "Wayman
Robinett" <[email protected]>, "Margie Shaff" <[email protected]>, "Tim
Shuba" <[email protected]>, "Barney Speckman" <[email protected]>, "Jim
Tucker" <[email protected]>, "Wallis, Kristi"
<[email protected]>, "Stephany A. Watson" <[email protected]>,
"Connie Westadt" <[email protected]>, "Curtis Winterfeld"
<[email protected]>, "Sanjiv Kripalani" <[email protected]>, "Lauren
Nichols" <[email protected]>, "Don Watkins" <[email protected]>, "Gerit Hull"
<[email protected]>, "Eamonn Duggan" <[email protected]>, "Vernon Porter"
<[email protected]>, "Rob Neate" <[email protected]>, "Kathy Carlson"
<[email protected]>, "Alan Davis" <[email protected]>, "Ron Rodewald"
<[email protected]>, "Brian Altman" <[email protected]>, "Gary Stemler"
<[email protected]>, "Joe Rogers" <[email protected]>, "Mike Raschio"
<[email protected]>, "Sandy Smith" <[email protected]>, "Don Angell"
<[email protected]>, "Bill Rhoads" <[email protected]>, "Tom
Kingston" <[email protected]>, "Mike Ryan" <[email protected]>, "Dan
Woodfin" <[email protected]>, "Mark Shank" <[email protected]>,
"Steven Parks" <[email protected]>, "Nancy Bellows" <[email protected]>, "Ron
Bowersock" <[email protected]>, "Dan Sauter" <[email protected]>,
"PP&L Montana" <[email protected]>, "susan" <[email protected]>, "Randy Hardy"
<[email protected]>, "Teresa Brown" <[email protected]>, "Dick
Spence" <[email protected]>, "Tom DeBoer" <[email protected]>,
"Christina Kalavritinos" <[email protected]>, "Kristi M.
Wallis" <[email protected]>
cc: "\"judyrtowest\" <"
Subject: BRIDGE - RTO West/PRRQ -- 3/22 Provisions and Requirements Content
Group Meeting
Hello everyone.? This is Judy on Chris' machine since I didn't get this email.
?
Sorry this is so late - but in case any of you need the conference bridge for
the meeting starting at 10:00 this morning, the number is 503-813-5808, pass
code 942121.?Thanks. jw?
----- Original Message -----
From: Kristi M. Wallis
To: Christina Kalavritinos;Tom DeBoer;Dick Spence;Teresa Brown;Randy Hardy;
susan;PP&L Montana;Dan Sauter;Ron Bowersock;Nan! cy! Bellows;Steven Parks;
Mark Shank;Dan Woodfin;Mike Ryan;Tom Kingston;Bill Rhoads;Don Angell;Sandy
Smith;Mike Raschio;Joe Rogers;Gary Stemler;Brian Altman;Ron Rodewald;Alan
Davis;Kathy Carlson;Rob Neate;Vernon Porter;Eamonn Duggan;Gerit Hull;Don
Watkins;Lauren Nichols;Sanjiv Kripalani;Chris Elliott;Curtis Winterfeld;
Connie Westadt;Stephany A. Watson;Wallis, Kristi;Jim Tucker;Barney Speckman;
Tim Shuba;Margie Shaff;Wayman Robinett;Richardson, Shelly;Chris Reese;Ransom,
Rebecca;Phillips, Deanna;Patton, Will;Patterson, Leroy;Osborn, Dave;Doug
Nichols;Paul Mur! ph! ;Terry Mundorf;Malcolm McLellan;Steve Larson;Dave Lamb;
Bud Krogh;Kaake, Jon;Carl Imparato;Huntsinger, Marlene;Jack Hockberger;John
Haner;Hain, Mary;Richard Goddard;Brian Gedrich;Garnett, Gerry;Peter Feldberg;
Empey, Marshall;Eden, Jim;Early, Michael;Sarah Dennison-Leonard;Dahlke, Gary;
Warren Clark;Eric Christensen;Kathleen Carr;Ray Brush;Don Brookhyser;Stan
Berman;Barnes, Arlena;Freedman, Eric (SEA)
Sent: 3/19/01 10:09:12 PM
Subject: RTO West/PRRQ -- 3/22 Provisions and Requirements Content Group
Meeting
To Members of the RTO West Stage 2 Provisions and Requirements Content
Group:
?
Hello!
?
As you know, the next meeting of the Provisions and Requirements Content
Group is Wednesday, March 21st, from 10:00 a.m. to 5:00 p.m. at the
Portland Airport Hilton Garden Inn.??I have prepared and attach an
agenda for your review.
?
I am also attaching the summary of the GIA Exemption Small Group
conference call; the 3/3 Provisions and Requirements Working Document
(this has already been distributed but for ease of reference I am
sending it again); and the final discussion paper regarding generation
interconnections.
?
Thanks!??I look forward to seeing you next week, Kristi
?
?
?
Christine Elliott,
RTO West Coordinating Team
[email protected]
503-262-9421
? |
---------------------- Forwarded by Chris H Foster/HOU/ECT on 01/18/2001
01:17 PM ---------------------------
Susan J Mara@ENRON
01/18/2001 11:36 AM
To: Alan Comnes/PDX/ECT@ECT, Angela Schwarz/HOU/EES@EES, Beverly
Aden/HOU/EES@EES, Bill Votaw/HOU/EES@EES, Brenda Barreda/HOU/EES@EES, Carol
Moffett/HOU/EES@EES, Cathy Corbin/HOU/EES@EES, Chris H Foster/HOU/ECT@ECT,
Christina Liscano/HOU/EES@EES, Christopher F Calger/PDX/ECT@ECT, Craig H
Sutter/HOU/EES@EES, Dan Leff/HOU/EES@EES, Debora Whitehead/HOU/EES@EES,
Dennis Benevides/HOU/EES@EES, Don Black/HOU/EES@EES, Donna
Fulton/Corp/Enron@ENRON, Dorothy Youngblood/HOU/ECT@ECT, Douglas
Huth/HOU/EES@EES, Edward Sacks/Corp/Enron@ENRON, Eric Melvin/HOU/EES@EES,
Erika Dupre/HOU/EES@EES, Evan Hughes/HOU/EES@EES, Fran Deltoro/HOU/EES@EES,
Gayle W Muench/HOU/EES@EES, Ginger Dernehl/NA/Enron@ENRON, Gordon
Savage/HOU/EES@EES, Harold G Buchanan/HOU/EES@EES, Harry
Kingerski/NA/Enron@ENRON, Iris Waser/HOU/EES@EES, James D
Steffes/NA/Enron@ENRON, James W Lewis/HOU/EES@EES, James Wright/Western
Region/The Bentley Company@Exchange, Jeff Messina/HOU/EES@EES, Jeremy
Blachman/HOU/EES@EES, Jess Hewitt/HOU/EES@EES, Joe Hartsoe/Corp/Enron@ENRON,
Karen Denne/Corp/Enron@ENRON, Kathy Bass/HOU/EES@EES, Kathy
Dodgen/HOU/EES@EES, Ken Gustafson/HOU/EES@EES, Kevin Hughes/HOU/EES@EES,
Leasa Lopez/HOU/EES@EES, Leticia Botello/HOU/EES@EES, Mark S
Muller/HOU/EES@EES, Marsha Suggs/HOU/EES@EES, Marty Sunde/HOU/EES@EES,
Meredith M Eggleston/HOU/EES@EES, Michael Etringer/HOU/ECT@ECT, Michael
Mann/HOU/EES@EES, Michelle D Cisneros/HOU/ECT@ECT, Mike D Smith/HOU/EES@EES,
Mike M Smith/HOU/EES@EES, [email protected], Neil Bresnan/HOU/EES@EES, Neil
Hong/HOU/EES@EES, Paul Kaufman/PDX/ECT@ECT, Paula Warren/HOU/EES@EES, Richard
L Zdunkewicz/HOU/EES@EES, Richard Leibert/HOU/EES@EES, Richard
Shapiro/NA/Enron@ENRON, Rita Hennessy/NA/Enron@ENRON, Robert
Badeer/HOU/ECT@ECT, Roger Yang/SFO/EES@EES, Rosalinda Tijerina/HOU/EES@EES,
Sandra McCubbin/NA/Enron@ENRON, Sarah Novosel/Corp/Enron@ENRON, Scott
Gahn/HOU/EES@EES, Scott Stoness/HOU/EES@EES, Sharon Dick/HOU/EES@EES,
[email protected], Tanya Leslie/HOU/EES@EES, Tasha Lair/HOU/EES@EES, Ted
Murphy/HOU/ECT@ECT, Terri Greenlee/NA/Enron@ENRON, Tim Belden/HOU/ECT@ECT,
Tony Spruiell/HOU/EES@EES, Vicki Sharp/HOU/EES@EES, Vladimir
Gorny/HOU/ECT@ECT, Wanda Curry/HOU/EES@EES, William S Bradford/HOU/ECT@ECT,
Mike D Smith/HOU/EES@EES, Donna Fulton/Corp/Enron@ENRON, [email protected],
[email protected], Frank W Vickers/NA/Enron@Enron, Ren, Lazure/Western
Region/The Bentley Company@Exchange, Jubran Whalan/HOU/EES@EES, Richard B
Sanders/HOU/ECT@ECT, [email protected], [email protected], Kathryn
Corbally/Corp/Enron@ENRON, [email protected], Bruno
Gaillard/EU/Enron@Enron, Linda Robertson/NA/Enron@ENRON, Tom Riley/Western
Region/The Bentley Company@Exchange, Tamara Johnson/HOU/EES@EES, Gordon
Savage/HOU/EES@EES
cc:
Subject: Latest Bill introduced in CA -- to set up Statewide CA Public Power
agency
Introduced today by Senator Burton, Majority leader, SB6-X
---------------------- Forwarded by Chris H Foster/HOU/ECT on 01/18/2001
01:17 PM ---------------------------
Enron Capital & Trade Resources Corp.
From: CAISO Market Operations - Hour Ahead
<IMCEAEX-_O=CAISO_OU=CORPORATE_CN=SYSTEM_CN=MARKETOPSHOURAHEAD@caiso.com>
01/18/2001 11:46 AM
To: "Market Status: Hour-Ahead/Real-Time"
<IMCEAEX-_O=CAISO_OU=CORPORATE_CN=DISTRIBUTION+20LISTS_CN=MKTSTATHOURAHEAD@cai
so.com>
cc:
Subject: Coordinated Operation of Controllable devices for Path 23
> 1127 PST APS sent the following WSCCnet message:
> APS has met all WSCC USF procedure requirements for Path 23 unscheduled
> flow accommodation. All local controllable devices have been utilized.
> APS now requests the use of the Coordinated Controllable devices. Please
> check your schedules.
---------------------- Forwarded by Chris H Foster/HOU/ECT on 01/18/2001
01:17 PM ---------------------------
Enron Capital & Trade Resources Corp.
From: CRCommunications <[email protected]>
01/18/2001 11:59 AM
To: ISO Market Participants
<IMCEAEX-_O=CAISO_OU=CORPORATE_CN=DISTRIBUTION+20LISTS_CN=ISO+20MARKET+20PARTI
[email protected]>
cc:
Subject: RE: CAISO Market Update concerning Stage 3 emergency
The Cal ISO will be restoring the 500 MW of firm curtailment for HE12.
Client Relations
California Independent System Operator
> -----Original Message-----
> From: CRCommunications
> Sent: Thursday, January 18, 2001 10:54 AM
> To: ISO Market Participants
> Subject: CAISO Market Update concerning Stage 3 emergency
>
> At present, for HE10, ISO has implemented firm load interruption in
> northern CA totaling 1000MW.
>
> ISO anticipates firm load interruption will be required for HE11 in
> northern CA totaling 500MW.
>
> ISO request that all available energy resources be scheduled or bid into
> the HA and RT markets.
>
> The need to interrupt firm load is due to the lack of resources in
> northern CA decreased in northwest imports, and transmission constraints
> from south to north on Path 15.
>
> California ISO Client Relations
>
---------------------- Forwarded by Chris H Foster/HOU/ECT on 01/18/2001
01:17 PM ---------------------------
Enron Capital & Trade Resources Corp.
From: CAISO Market Operations - Hour Ahead
<IMCEAEX-_O=CAISO_OU=CORPORATE_CN=SYSTEM_CN=MARKETOPSHOURAHEAD@caiso.com>
01/18/2001 12:29 PM
To: "Market Status: Hour-Ahead/Real-Time"
<IMCEAEX-_O=CAISO_OU=CORPORATE_CN=DISTRIBUTION+20LISTS_CN=MKTSTATHOURAHEAD@cai
so.com>
cc:
Subject: Terminate Coordinated Operation of Controllable devices for Path 15
> 1220 PST Path 15 actual flow is now within rated transfer capability.
> CISO terminates request for Coordinated Operation of Controllable devices. |
Paul,
Mark T. asked me to have a look at the GTC's you prepared for Credit
Derivatives in the USA. I think you did a great job on the GTC's and have
just a few suggestions/comments/questions:
1. Would it not be easier for the Counterparty to understand the document if
the Definitions were in Section 1? Failing that, it would be helpful to
indicate upfront that there is a glossary of Defined Terms at the end of the
document.
2. I agree with Mark that we would expect for a signed Confirmation to
control over the GTC's (and/or ETA). Section 1 is inconsistent with this idea.
3. Section 2(d)(iii): I wonder why we are making the Trade Option rep. here.
I would not have thought that a Credit Option could be considered a
"commodity derivative". Put another way - does Sullivan and Cromwell really
think that the CFTC has jurisdiction over credit products? I would have
thought credit products are more similar to an OTC equity derivative. I
wonder if they have considered any potential SEC issues.
4. Section 2 - under the BOLDED WARNINGS, (C) regarding "... Enron ceasing to
provide quotations". This seems inconsistent with the opening paragraph
which says that this website should not be construed as an offer by Enron to
buy or sell. If that is the case, why is Enron providing quotations? Seems to
me that if one is offering a quotation, one is offering the price at which
one will buy or sell.
Also, I would recommend to clarify the last sentence in (C) by adding at the
end of "credit products", both times it appears, the words "with Enron".
There is nothing to stop the Counterparty from entering into new credit
products with third parties but the current wording could be taken to imply
this.
5. Section 4 "Events of Default": In the 8th Line, after the word "Party", I
would insert "to comply with".
6. Remedies: Was it a conscious decision to give the Defaulting Party Five
Business Days to pay the amount it owes but give Non-Defaulting party Ten
Business Days?
7. Termination: In clause (c), it should refer to the Scheduled Termination
Date.
8. Section 11 (C): I would suggest to insert at the end thereof to add
something along the lines of, "as soon as such party becomes aware of any
inaccuracy or misrepresentation."
9. Section 11 (D): Please check with ENA Tax - I believe we are using new tax
forms which have replaced the W-8 and 1001.
10. Section 13 "General Definitions":
"Buyer Payment Date" I would recommend that the Buyer Payment Dates be
specified in the actual trade confirmation. This is something I can foresee
the traders changing for every transaction.
"Effective Date" : Do you mean 60 Business or Calendar Days?
"Interest Rate": In a USD Denominated Agreement where ENA is a CP - I would
have thought we would use an interest rate quoted by a US bank - rather than
Barclays.
Schedule
Governing Law & Jurisdiction: Just to echo what Mark Taylor pointed out -
normally we are required to use Arbitration rather than Ct. jurisdiction in
ENA Master Agreements. Haedicke feels very strongly about this. I can send
the language if you need it.
Exclusion of Third Party Rights: There is a stray quotation mark at the end
of this paragraph.
I hope this is helpful - please feel free to call.
Shari
__________________________________________________
From: Mark Taylor 02/08/2000 06:07 PM
To: Shari Stack/HOU/ECT@ECT
cc:
Subject: EnronOnline - Credit Derivatives Documentation
I haven't had a chance to look at this yet but here it is.
---------------------- Forwarded by Mark Taylor/HOU/ECT on 02/08/2000 06:06
PM ---------------------------
Paul Simons
01/27/2000 12:31 PM
To: Mark Taylor/HOU/ECT@ECT
cc: Omer Muftuler/LON/ECT@ECT
Subject: EnronOnline - Documentation
Mark
As per my voice-mail, here is a raft of GTCs including the US version. The
US version take on board S &C's comments, but obviously you will need to sign
off on the US GTCs before we go live. Grateful for any final comments asap
as we are aiming to finalise them on Monday.
Many thanks and sorry its not much of a birthday gift (I'll make it up to
you)!
Regards
Paul
---------------------- Forwarded by Paul Simons/LON/ECT on 27/01/2000 18:25
---------------------------
Enron Capital & Trade Resources Corp.
From: "Brown, Gavin" <[email protected]>
25/01/2000 23:23
To: Paul Simons/LON/ECT@ECT
cc: "WARNA-KULA-SURIYA, Sanjev" <[email protected]>, "RANDELL,
Charles" <[email protected]>, "Petch, Tolek"
<[email protected]>
Subject: EnronOnline - Documentation
SLAUGHTER AND MAY
35 Basinghall Street, London EC2V 5DB
TEL: +44 (0) 171 600 1200 FAX: +44 (0) 171 600 0289
This e-mail message is CONFIDENTIAL and may contain legally privileged
information. If you are not the intended recipient you should not read,
copy, distribute, disclose or otherwise use the information in this e-mail.
Please also telephone or fax us immediately and delete the message from your
system. E-mail may be susceptible to data corruption, interception and
unauthorised amendment, and we do not accept liability for any such
corruption, interception or amendment or the consequences thereof.
A list of the partners and their professional qualifications is available
for inspection at the above address. The partners are either solicitors or
registered foreign lawyers.
____________________________________________________________________________
__________
Dear Paul,
I attach the Swedish, Swiss, US and UK GTCs.
Kind regards,
Gavin Brown
- CA003672719_7.doc
- CA003672720_7.doc
- CA003672721_7.doc
- CA003672492_14.doc |
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I believe this generated $75 worth of discretion with Midwest Gas. Unless I am not seeing something here, I don't feel as though investing dollars to install EFM or Bullhorn would be a good idea.
Tom
-----Original Message-----
From: Anderson, Gary E.
Sent: Thursday, October 25, 2001 8:17 AM
To: Zadow, Raetta; Lachapelle, Donna; Stewart, Angeline; Farmington-Pipeline, Team; Rice, Tom
Cc: Blair, Lynn; Dietz, Rick; Floyd, Jodie
Subject: RE: Daily Volumes For Midwest Natural Gas
The charts from these locations are not received in time to process for the 5th work day close, so these daily volumes are determined systematically based on the beginning and ending index readings. Even if they were, it is impossible to determine daily volume consumption from a 31day chart. Even decreasing the chart rotation is not a solution unless charts are received by the third work day to allow sufficient time for processing. The answer is to install EFM or possibly a Bullhorn unit to determine the actual daily index readings so that the daily quantities are accurately determined.. On these types of installations, how can we assess penalties on anything other than monthly quantities ? NNG has several locations where the existing equipment does not meet today's business needs, so we probably need to determine where these deficiencies exists, and identify the costs to resolve the problem.
Thanks-
Gary
-----Original Message-----
From: Zadow, Raetta
Sent: Tuesday, October 09, 2001 9:04 AM
To: Anderson, Gary E.; Lachapelle, Donna; Stewart, Angeline; Farmington-Pipeline, Team; Rice, Tom
Cc: Blair, Lynn; Dietz, Rick; Floyd, Jodie; Zadow, Raetta
Subject: FW: Daily Volumes For Midwest Natural Gas
Gary, was wondering if you could help us out. Scott has told me that they have 31 day charts for the stations listed below and he was wondering why we couldn't read those so as to get daily volumes rather than taking the total for the month and dividing it by the number of days in the month to get the daily volume. The reason for this is because, especially in the winter time, this can become very crucial when we calculate the penalty invoices which are done daily and are based on the differences between the daily physical volumes and the volumes that the shippers have scheduled on our pipe. If these charts cannot be read daily, what can we do to make it so that they can. Could you please check to find out what we need to do in order to have accurate daily volumes for these stations.
Thanks,
Raetta
-----Original Message-----
From: Farmington-Pipeline, Team
Sent: Monday, October 08, 2001 9:55 AM
To: Zadow, Raetta
Subject: Re: Daily Volumes For Midwest Natural Gas
Raetta, here are the stations numbers. Thanks for your help. Scott 612-270-8501
Arcadia 747-051-01,02
Eleva 747-161
Independance 747-221
Mondovi 747-341-01,02
Strum 747-411
Whitehall #1 747-921
Whitehall #3 747-923
<< OLE Object: Picture (Device Independent Bitmap) >>
Team Farmington-Pipeline
06/22/2001 07:58 AM
To: Raetta Zadow/ET&S/Enron@ENRON
cc: Tom Rice/ET&S/Enron@ENRON, Bob Stevens/ET&S/Enron, Angeline Stewart/GPGFIN/Enron, Diana Porter/ET&S/Enron@ENRON, Jodie Floyd/ET&S/Enron@ENRON, Raetta Zadow/ET&S/Enron@ENRON
Subject: Re: Daily Volumes For Midwest Natural Gas << OLE Object: StdOleLink >>
Thanks for looking into this for me Raetta. I talked to Jim Banker this week and asked for him to check and see if they were charged for any penalty gas or not. He said that he would let me know if they had. He also stressed that we still need to see the actual daily volumes instead of average daily volumes on the volume statements. I'm not quit sure if this part of the problem has been addressed yet or not. Please let me know. Thanks Scott
<< OLE Object: Picture (Device Independent Bitmap) >>
Raetta Zadow
06/15/2001 04:43 PM
To: Team Farmington-Pipeline/ET&S/Enron@ENRON
cc: Tom Rice/ET&S/Enron@ENRON, Bob Stevens/ET&S/Enron, Angeline Stewart/GPGFIN/Enron, Diana Porter/ET&S/Enron@ENRON, Jodie Floyd/ET&S/Enron@ENRON, Raetta Zadow/ET&S/Enron@ENRON
Subject: Re: Daily Volumes For Midwest Natural Gas << OLE Object: StdOleLink >>
I have looked at the DDVC invoices for Midwest for March, 2001 which total $304.70. The SMS charges amount to $76.30 but the biggest part of the invoice is the negative DDVC charge which is for $228.40 - this occurred on March 26. I was wondering if the Midwest Natural Gas people could let us know what they think the volumes should be on those specific wells that they are concerned about for the 26th and then if necessary, we could make those corrections. Please let me know if there is anything else that I can do to help.
Thanks,
Raetta
<< OLE Object: Picture (Device Independent Bitmap) >>
Team Farmington-Pipeline
06/14/2001 03:04 PM
To: Tom Rice/ET&S/Enron@ENRON, Bob Stevens/ET&S/Enron, Raetta Zadow/ET&S/Enron@ENRON, Angeline Stewart/GPGFIN/Enron, Diana Porter/ET&S/Enron@ENRON
cc:
Subject: Daily Volumes For Midwest Natural Gas
I recently met with Jim Banker with Midwest Natural Gas from Whitehall, Wi. He informed me that he had some concerns about whether or not he was being charged for penalty gas for daily volumes. He showed me some gas volume statements that he recieved from GMS. I believe it was the month of March Statement. What the statement showed is average daily volumes instead of the actual volumes per day. (Ex. At Eleva TBS Days 1 and 2 showed 122 MCF and Days 3-31 showed 118 MCF.) These are charted stations with 31 day charts. The stations that he is concerned about are Arcadia, Eleva, Independance, Mondovi, Strum, Whitehall #1,and Whitehall #3. Any assistance or knowledge that you can provide me would be greatly appreciated. Thanks Scott 612-270-8501 |
Energy supply setback: Big generator can't be forced to sell emergency power
to the state, a U.S. court rules.
By Denny Walsh and Carrie Peyton
BEE STAFF WRITERS
(Published April 6, 2001)
In a development that does not bode well for California's energy supply, a
federal appellate court Thursday halted enforcement of a lower court order
that a big electricity generator must sell emergency power to the state
without guarantee of payment.
State energy officials said the ruling wouldn't have any immediate effect but
could precipitate a power emergency if the generator decided to take a plant
off-line for maintenance.
On March 21, citing "rolling blackouts (that have) darkened the California
landscape," U.S. District Judge Frank C. Damrell Jr. imposed an injunction
against Reliant Energy Services Inc., one of the nation's major generators.
Houston-based Reliant controls approximately 3,800 megawatts, or about 20
percent, of the gas-fired generation capacity in the state, and Damrell found
that loss of that production "poses an imminent threat."
But Thursday, a three-judge panel of the 9th U.S. Circuit Court of Appeals
granted an emergency stay of the injunction, saying Reliant has shown "a high
likelihood of success on the merits" of its appeal.
While not spelling it out, the panel apparently bases its finding on the
question of the courts' jurisdiction over the energy market. The panel
directed that a hearing on the appeal be scheduled for the second week in
July.
The decision leaves California's electric grid more fragile, at least
temporarily, according to the state Independent System Operator, which
maintains and controls power transmissions.
It gives the agency no immediate recourse if Reliant chooses to shut down any
of its plants for maintenance, said ISO Vice President Jim Detmers.
"It's not going to change anything overnight, and it's not going to change
anything over the weekend," said Detmers. "But if Reliant decided on a
unilateral action to take their units off for maintenance ... we definitely
could have a system emergency."
Reliant officials, when told of the ruling, took a conciliatory tone but
declined to specify their next move.
"Reliant ... has pledged to keep the lights on in California," said company
lobbyist Marty Wilson, and "is still of a mind to want to cooperate."
Without further comment, the appeals court judges cited a 1980 U.S. District
Court decision. In that case, 14 cities sued Florida Power and Light Co.,
alleging that it was violating a number of laws in its sales of power and
production of electricity.
The judge found, however, that the Federal Power Act reserves oversight of
interstate utilities exclusively to the Federal Energy Regulatory Commission.
He ruled that only the commission may bring an action involving energy sales
into federal court -- unless it is a request to review a commission order,
and that goes directly to an appellate court.
The lawsuit before Damrell was brought by the ISO to force Reliant and two
other generators to respond to ISO's emergency orders for power, even though
the agency is buying on behalf of two retailers that are broke and hopelessly
in debt.
Because Pacific Gas and Electric Co. and Southern California Edison can't pay
their bills -- about $14 billion -- some wholesalers want to cut off sales to
the utilities.
The other three defendants in the ISO's suit -- Dynegy Power Corp. of Houston
and Tulsa-based AES Corp. and its marketer, Williams Energy Marketing &
Trading Co. -- have entered into written agreements with ISO to continue
supplying emergency power until the FERC decides whether they are required to
sell to companies that are not creditworthy.
But Charles Robinson, ISO general counsel, points out that the generators can
rescind those agreements with 48 hours' notice.
"My hope is this is a temporary setback," said Robinson. He added, however,
that the practical effect is "at least for now, we don't have a tool to
compel them to do what we believe they're obligated to do" -- respond to
emergency demands for power.
Reliant has insisted since the suit was filed Feb. 6 that Damrell has no
jurisdiction over the rate schedules that govern dealings between generators
and the ISO, and that the Federal Power Act mandates that the FERC must
settle any disputes about terms of those tariffs.
In issuing the injunction, Damrell acknowledged that the FERC has special
expertise concerning agreements between generators and ISO.
"Absent the extreme exigencies of the California power crisis, the court
agrees that a stay pending further action by the FERC would be proper," he
said. "But those are not the facts here. Electricity is in critically short
supply. The health and safety of the people of California are potentially at
risk."
Immediately upon receiving the 9th Circuit's order Thursday, attorneys for
the ISO asked Damrell to set an accelerated schedule for its motion to amend
the suit. The agency apparently has crafted a new complaint stressing its
view that the matter is an ordinary contract dispute over which the judge has
jurisdiction.
Damrell scheduled a hearing on the motion for Thursday.
In a further development that could complicate the state's dire need for
energy, an alternative supplier won a court fight Thursday to bypass the big
utilities and sell its power on the open market.
Timber giant Sierra Pacific Industries, which operates four biomass plants
that produce power for PG&E, obtained a temporary restraining order in
Sacramento Superior Court that says Sierra Pacific is not required to sell
its power to PG&E.
The ruling means PG&E and Southern Edison could lose power as alternative
energy generators, fed up with months of nonpayment, sue to be able to sell
their comparatively cheap product elsewhere, including outside the state. |
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BW2009 JAN 15,2002 2:05 PACIFIC 05:05 EASTERN
( BW)(TX-INDUSTRIAL-INFO-RES) Industrial Information Resources'
Ethanol Production Package Forecasts $4 Billion in Capital Spending
Through 2005, in an Advisory by Industrialinfo.com
Business Editors & Energy Writers
HOUSTON--(BUSINESS WIRE)--Jan. 15, 2002--Researched by
Industrialinfo.com (Industrial Information Resources, Incorporated;
Houston, Texas). Today, synthetic fuels such as ethanol and biodiesel
are emerging as the renewable fuels of the future. New requirements
for reformulated gasoline, particularly in California, mean that the
gasoline additive MTBE no longer meets requirements and that its usage
may be environmentally hazardous. In California, the state air quality
board is requiring the removal of MTBE from gasoline by
December 31, 2002, making ethanol a likely substitute. Thirteen other
states are investigating similar requirements. The controversy
surrounding MTBE presents new opportunities for the ethanol industry
for the future.
The renewed interest in ethanol has prompted Industrial
Information Resources (IIR) to develop an exclusive Ethanol Production
Package (http://www.industrialinfo.com/esemdethanolpp.htm) to track
the new developments occurring in the industry, along with current and
future plant production capacities, contact information, and capital
spending data. IIR is tracking over $4 billion in capital spending
expected to take place over the next three to five years. This will
more than double the current capacity of today's ethanol production
capabilities. In the year 2001, some 1.8 billion gallons were produced
in the U.S. The market for ethanol is forecasted to grow to more than
3.9 billion gallons per year by 2005.
Biodiesel, also known as methyl esters, is another renewable fuel
derived from new and used vegetable oils. Recent interests in
biodiesel have come about after discovering that when a mixture of 20%
biodiesel is blended with standard petroleum diesel fuel, sulfur
content will be reduced down to acceptable levels. In its pure form,
biodiesel can be used as a fuel source in most combustion engines that
accept diesel fuels. Further interest could push this product to the
commercial market in the future. Today, biodiesel fuel production is
at 61 million gallons per year. As demand grows, production is
projected to reach 100 million gallons or more annually within the
next few years.
A Bioenergy stimulus package currently before Congress is intended
to reduce the U.S. dependence on foreign oil by 0.5%, while
increasing the use of synthetic fuels by 0.5%. Synthetic fuel
producers are anticipating a greater role for ethanol and biodiesel
through 2005 and beyond. It is forecasted that renewable fuels could
boost the U.S. economy by $300 billion and create as many as 300,000
new jobs in the synthetic fuel sectors of the economy by 2016.
Industrialinfo.com provides daily news related to the industrial
market place including alerts on industry and business trends and
project activity. The Ethanol Production Package provides a
comprehensive outline of all current development activities in the
emerging ethanol market place. This database covers 60 ethanol plants
currently in operation and 62 plants under development. For more
information on upcoming construction activities in the Synthetic Fuels
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are protected by copyright and other applicable laws, treaties and
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Business Wire`s members who are solely responsible for their content,
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(c) 1999 Business Wire. All of the releases provided by Business Wire
are protected by copyright and other applicable laws, treaties and
conventions. Information contained in the releases is furnished by
Business Wire`s members who are solely responsible for their content,
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are protected by copyright and other applicable laws, treaties and
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accuracy and originality. All reproduction, other than for an
individual user`s reference, is prohibited without prior written
permission. |
---------------------- Forwarded by Valarie Sabo/PDX/ECT on 03/08/2001 01:21
PM ---------------------------
Enron Capital & Trade Resources Corp.
From: Nancy Hernandez @ ENRON 03/01/2001 12:21 PM
To: Valarie Sabo/PDX/ECT@ECT
cc:
Subject: Re: adding new books/desks/counterparties in West Portfolio
Sorry: LN skipped over your name in the send process.
---------------------- Forwarded by Nancy Hernandez/NA/Enron on 03/01/2001
02:20 PM ---------------------------
From: Nancy Hernandez 03/01/2001 02:20 PM
To: Fran Chang/PDX/ECT@ECT
cc: Chris Abel/HOU/ECT@ECT, Burton McIntyre/HOU/ECT@ECT, Susan D
Trevino/HOU/ECT@ECT
Subject: Re: adding new books/desks/counterparties in West Portfolio
Valarie:
Can you please complete the attached book request for the EPMI-ST-WR-EXT
book? If you have any questions please call me at 713-345-4751.
Nancy
---------------------- Forwarded by Nancy Hernandez/NA/Enron on 03/01/2001
02:16 PM ---------------------------
Fran Chang@ECT
03/01/2001 01:14 PM
To: Min Zheng/NA/Enron@Enron, Norman Lee/Corp/Enron
cc: Sanjay Gupta/HOU/ECT, [email protected], Valarie Sabo/PDX/ECT@ECT
Subject: Re: adding new books/desks/counterparties in West Portfolio
Hi Min Zheng and Norman:
In the past couple of weeks you have been working on adding three new books
(Short-term west rockies, Short-term west services, and Long-term west
options) for the west. Yesterday we entered/moved our exotic deal (deal #
13982.3, which was originally in Short-term Southwest book) into the new
Short-term west rockies book and we are seeing a couple of problems:
(1) It seems that in DprAutomation the Short-term west rockies book was named
as "ST-WROCK", rather than "ST-WR" (i.e. the book's/roll's name in
M:\common\power\Postion\Dpr\2001\0102). Therefore, last night and this
morning we had to temparily changed the roll's name to ST-WROCK in order to
allow DprAutomation to run through the roll to bring in P&L/PCS/PID data.
(After DprAutomation was done running, we then changed it back to ST-WR so we
can link the roll to the "pwrdpr" file).
=> We need DprAutomation to use "ST-WR" for Short-term west rockies book so
we won't have to change the file name everytime we run DprAutomation.
(2) As mentioned earlier, yeterday deal #13982.3 's desk was changed from
ST-SW to Short-term west rockies in the Exotic book. Although we officialize
the Exotic book (post id 14061), Nancy Hernandez in Risk Management (Houston)
found that they could not see the Short-term west rockies book officialized
in Exotic.
=> I am not sure if this is due to the same problem as in (1) or something
else. We need the new Short-term west rockies book set up right so it can be
officialized in the Exotic book in order for the Risk Control Group in
Houston to see/monitor it.
Please help us look at the above issues. Let me know if I can provide more
useful information.
(For Nancy: I spoke with Valarie and there is nothing we know of other than
deal #13982.3 that was in the ST-SW book in Exotic book. Since we moved the
deal to Short-term west rockies book last night, it should be normal to see
nothing remaining in the ST-SW book.)
Thanks,
Fran
x7973
---------------------- Forwarded by Fran Chang/PDX/ECT on 03/01/2001 11:03 AM
---------------------------
Fran Chang
02/09/2001 11:47 AM
To: Norman Lee/Corp/Enron, Min Zheng/NA/Enron@Enron
cc: Monica Lande/PDX/ECT@ECT, Valarie Sabo/PDX/ECT@ECT
Subject: adding new books/desks/counterparties in West Portfolio
Hi guys:
I just wanted to touch base with you on how we are doing on the IT side
regarding the 3 new books that West Power is establishing (* please refer to
the email attached from Val sent on 2/5/2001).
Today, we will be creating the three new desks/books (ST West Services, ST
West Rockies, and LT West Options). Would you please help us set up these
three new desks/books in "West tot belden2". The path to the file is
M:\power2\Curve\New_sys\Data. Specifically, when you open the file and go to
"Peak", "Off-Peak", "Peak-By Region", and "Off-Peak-By Region" tabs, you will
see pivot tables/columns which can be manupulated to get positions in our
existing desks/books (eg. LT-NW, LT-SW, etc). We need ST West Services, ST
West Rockies, and LT West Options to be included in these tabs under seperate
columns, too.
Please let me know if you have any questions.
Thanks,
Fran
x7973
---------------------- Forwarded by Fran Chang/PDX/ECT on 02/09/2001 11:50 AM
---------------------------
From: Valarie Sabo 02/05/2001 11:57 AM
To: Samuel Schott/HOU/ECT@ECT
cc: Chris Abel/HOU/ECT@ECT, Burton McIntyre/HOU/ECT@ECT, Susan D
Trevino/HOU/ECT@ECT, Thresa A Allen/HOU/ECT@ECT, Duong Luu/HOU/ECT, Sanjay
Gupta/HOU/ECT, LaCrecia Davenport/Corp/Enron@Enron, Misti Day/HOU/ECT@ECT,
Michael Benien/Corp/Enron@ENRON, Will Smith/HOU/ECT, Norman Lee/Corp/Enron,
Stacey W White/HOU/ECT@ECT, Melissa Ann Murphy/HOU/ECT@ECT (bcc: Fran
Chang/PDX/ECT)
Subject: adding new books/desks/counterparties in West Portfolio
Hello all. I'm not sure if I've included too few people or too many, but
you can let me know if I've left someone off the list or have included
someone unnecessarily.
We're busy up here in Portland adding new desks...these new desks will need
to mapped through all of the Enpower reports/calcs, DPR, adhoc, MTM97, etc.
There are several of you that I will need to work with after the books are
set up, but I think this gets us through the initial push. Attached is the
primary information on the new books. Please email me or call if there are
any questions.
I'd like to have the setup completed by Wednesday, Feb. 07, if possible.
Thanks!
Val at x7756 |
_______________________________________________________________
This message and any attachments are intended for the individual or entity
named above. If you are not the intended recipient, please do not read,
copy, use or disclose this communication to others; also please notify the
sender by replying to this message, and then delete it from your system.
Thank you.
_______________________________________________________________
Tom Irwin asked that we contact you each of you directly on behalf of
Allegheny to ask the following environmental due diligence questions that
we have not resolved based on our review of the Dealbench documents.
Please, however, feel free to reference specific documents on Dealbench if
you believe they would be useful.
Questions for All Facilities
1. What are the limitations on the number of hours that each facility can
operate and what is the source of those limitations?
2. We understand that there are tentative expansion plans for each
facility. Were these future expansion plans disclosed to the regulating
agencies at the time that the air permits were applied for, particularly at
those facilities which did not undergo PSD review?
3. Which facilities are required to perform continuous emissions
monitoring pursuant to its air permits? For those facilities performing
CEM, please provide the last two years of data.
4. Are the facilities FERC jurisdictional for environmental impact
statement purposes pursuant to 18 C.F.R. Part 380? We noticed that the
only facility with information about this issue was the pipeline at
Lincoln, although the information seemed to suggest that only the pipeline
was subject to the EIS process. See 2.02.12.G. Was the rest of the
Lincoln facility subject to the EIS process? What was the outcome of the
EIS process for the pipeline?
5. What is Enron's understanding of the process required to transfer the
environmental permits for each facility in connection with the proposed
transaction? For example, the 1995 stormwater permit for LV Cogen appears
to be triggered by a change in control of the facility. See 6.02.03 at
page 16. Do other permits have similar provisions?
6. Will any environmental property transfer or comparable statutes (e.g.
the Illinois Responsible Property Transfer Act) be triggered by the
proposed transaction?
7. We have reviewed the United States Environmental Protection Agency
comments for the air permit at LV Cogen II, as discussed below. Did U.S.
EPA provide any additional comments on the air permits for LV Cogen II or
any other facility?
Lincoln Facility
1. Does the Lincoln facility have an air operating permit from the
Illinois Environmental Protection Agency? If so, please provide a copy.
If not, please explain status.
2. Were any wetlands impacted by the construction of the facility and, if
so, what permits were obtained? Will any wetlands be impacted by future
expansion plans? ENSR's conclusion on this issue seemed unclear,
particularly with respect to the 30 acre parcel. See 02.03.09C.
Gleason Facility
1. Does the Gleason facility have an air operating permit from the
Tennessee Department of Environment & Conservation? If so, please provide
a copy. If not, please explain status. We also noticed that the
construction permit expired on October 1, 2000. See 02.01.02. Was it
renewed?
2. What is the status of the petition for variance to the Tennessee
Department of Environment & Conservation for alternative testing and
monitoring methods under NSPS Subpart GG dated April 17, 2000? See
02.01.04B. What is the status of the letter requesting a waiver of certain
source emission tests dated April 18, 2000? See 02.01.04A.
3. Is there enough water to support an expansion of the facility at
Gleason? Please provide any testing/analysis that has been performed with
respect to this issue.
Wheatland Facility
1. We understand that the Wheatland facility may seek a NPDES permit to
discharge wastewater directly to the White River. How is this wastewater
currently managed? Why is the facility considering changing the management
method to direct discharge under a NPDES permit? If there are associated
cost savings with a NPDES permit, what are they estimated to be? We
understand that the source of the water that is discharged is a pond
associated with mining operations. Who is the owner of the pond? Are any
water extraction permits needed to remove water from this pond and, if so,
have they been obtained? We also understand that sampling was recently
performed of the water. Please provide copies of this analysis and any
associated documentation.
LV Cogen
1. The Industrial User Discharge Permit on Dealbench appears to have
expired on July 1, 2000. See 6.02.02. Was it renewed? If so, please
provide copy.
2. The stormwater discharge permit for LV Cogen appears to be expired.
See 06.02.03. Was it renewed? If so, please provide copy.
3. Does Sunco hold any environmental permits in its own name? If so,
please provide copies.
LV Cogen II
1. EPA contends in its March 23, 1998 and March 24, 2000 letters that BACT
for LV Cogen II was SCONOx and/or XONON. See 06.01.09.1. How was this
issue resolved? Can LV Cogen II meet the 2 ppm NOx limit in the draft
operating permit with the technology that has been proposed? See 06.01.15.
2. It appears that the State of Nevada has contended that certain
equipment replacement should have undergone new source review in their June
13, 2000 memo. See 16.03.6. How was this resolved? What is EPA's view
on this issue? |
Steve,
Thanks a lot. I think that having the pseudo code will go a long way towards
understanding how the system works and making sure that there are no
bugs in translation of a business problem (for example, complicated
credit insurance deals with multiple triggers and conditionality) into the
code.
Regarding Tanya's attitude. Just a few points.
1. I don't think she has the skills to do the system administrator's work
and she does not have the
necessary privileges. This explains why she keeps asking Winston for help.
It's
not that the work is beneath her.
2. Some members of Tanya's team came to me complaining about Winston.
He effectively told them to go away and work on the "research projects"
and that he would take care of the IT issues. I don't think that it's just
Tanya's issue,
though I agree that a more outgoing personality would be helpful.
3. The reality of this situation is that the internal customers beat on
Tanya and
me whenever there is any performance problems and/or they intuitively
disagree with the results of a run. They could not care less about the
demarcation line between IT and Research. They also want Tanya
to sign off on the model and she cannot do it without full access to the code.
The bottom line is that we are in full agreement: Tanya and
Winston have to work as a team and I shall work on my end to make sure that
it happens.
Credit is emerging as a critical issue for Enron for the next few weeks and
the system cannot fail.
Vince
From: Stephen Stock/ENRON@enronXgate on 01/11/2001 08:23 AM
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: Progress
Vince,
I got feedback from the lunchtime research meeting that you were talking
about some specific solutions to performance of IT systems... In particular
distributed processing. Also I heard that you had concerns about the use of
multiple languages etc....
Both of these sound like what I was discussing with you on previous
occasions... Do you feel the need to discuss these further?
The multi-language issue isn't really that much of an issue, as the current
system is 98% java right now. Although I am a big fan of C/C++(it is my main
development skill) , I am also very aware that Java is a much more evolved
and robust language. I had serious doubts about the performance, but I've had
a review conducted, and the results are showing the Sun Unix implementation
to be nearly as fast and in some cases faster than C/C++ because of something
they call Hot-Spot technology. (its an instruction caching technique, I
believe). The concerns I expressed to you, were really about how technical
people justify the use of a language on the strength of a relatively
meaningless metric like portability.
On the issue of distributed processing... the original review I had conducted
by our architecture group pointed to that as a solution, and as Zhiyong Wei
is already working on Global Valuation project, Winston is actively working
with Zhiyong to see if he can model the VaR architecture on that, and also to
find a common Valuation piece between the systems.
I'd like the opportunity to talk to you about these issues if you have some
time over the next few days?
Also, I sat in on the Tanya / Winston meeting yesterday and as per our
discussion at the elevator, I attempted to help her argument by suggesting to
all present that she was trying to perform triage on the code... I.e.
Seperating research domain problems from IT problems.
She said that stepping through code was the only real way in which she could
get a feel for where performance bottlenecks were. I asked her how she would
measure that, and she said she would instrument the code manually by
inserting timing elements at strategic points. I mentioned that a profiling
tool could probably do this job for her. Tanya again said that stepping
through code is the only way she can get an idea of the code, and that
studying documentation wasn't enough.
About 6 weeks ago, I commissioned a team to document the system down to
psuedo-code level and will be able to provide this to you and your team soon.
(in fact I've asked for a draft copy to be given to Tanya right now), and
Winston is also working on a draft Research/IT "working together" document,
which will identify how the exchange of information takes place.
Tanya also gave the impression that she wants a dedicated IT developer to do
all the environment setup for her, because she doesn't really want to have to
do that. I think that this is probably the root cause of the issue. The IT
guys are working very hard and her handling of the situation is not good, as
it gives the impression that this kind of work is beneath her. She is
claiming that they are un-cooperative.... they are claiming that she
continually asks the same questions about set-up over and over again, and
doesn't seem to want to learn how to do it. Winston on the other hand, could
be more proactive in determining what is a business related model issue and
an IT issue and ask for help from research.
I think you Debbie and I need to work quite hard to get them to play nicely.
I have asked Tanya and Winston to go ahead and work very closely together
over the next few days....and Debbie Brackett and I will review their
progress on Friday.
In the meantime l'll be looking at setting up a working test environment that
doesn't involve my main Quant guys in day to to day setup issues as a longer
term solution.
Regards
Steve |
------------------------------------------------------------------------------
------------------------
W E E K E N D S Y S T E M S A V A I L A B I L I T Y
F O R
May 11, 2001 5:00pm through May 14, 2001 12:00am
------------------------------------------------------------------------------
------------------------
SCHEDULED SYSTEM OUTAGES:
ARDMORE DATA CENTER - FACILITY OPERATIONS: No Scheduled Outages.
AZURIX: No Scheduled Outages.
EB34 DATA CENTER - FACILITY OPERATIONS: No Scheduled Outages.
EDI SERVER: No Scheduled Outages.
ENRON CENTER SOUTH DATA CENTER - FACILITY OPERATIONS: No Scheduled Outages
ENRON NORTH AMERICAN LANS:
Impact: EES
Time: Sat 5/12/2001 at 1:00:00 PM CT thru Sat 5/12/2001 at 5:00:00 PM CT
Sat 5/12/2001 at 11:00:00 AM PT thru Sat 5/12/2001 at 3:00:00 PM PT
Sat 5/12/2001 at 7:00:00 PM London thru Sat 5/12/2001 at 11:00:00 PM London
Outage: Move vlans for EES in Enron Building
Environments Impacted: EES in Enron Building
Purpose: Provide more capacity to the network
Backout: paste in old configs
Contact(s): Gail Kettenbrink 713-853-4524
Michael Huang 713-345-3201
FIELD SERVICES: No Scheduled Outages.
INTERNET: No Scheduled Outages.
MESSAGING: No Scheduled Outages.
MARKET DATA: No Scheduled Outages.
NT: No Scheduled Outages.
OS/2: No Scheduled Outages.
OTHER SYSTEMS:
Impact: Corp, OTS, ETS
DATE: MAY 15, 2001/2/2001 at 5:30:00 PM
Outage: Migrate DSS Server to GTHOU-APPSQ03P
Environments Impacted: DSS users will not be able to access the old server
(ENEDS01_ADAPT)after this date
Purpose: The existing server is outdated, migrating to SQL 2000 provides
increased
functionality and conforms to database platform requirements.
Backout:
Contact(s): Mary Vollmer 713-853-3381
Joe Hellsten 713-853-7346 713-545-4164
Impact: CORP
Time: Fri 5/11/2001 at 8:00:00 PM CT thru Sat 5/12/2001 at 10:00:00 PM CT
Fri 5/11/2001 at 6:00:00 PM PT thru Sat 5/12/2001 at 8:00:00 PM PT
Sat 5/12/2001 at 2:00:00 AM London thru Sun 5/13/2001 at 4:00:00 AM London
Outage: CPU replacement on server sennacca.
Environments Impacted: RMS
Purpose: Replace faulty CPU that is offline.
Backout: Restore server to old configuration.
Contact(s): Malcolm Wells 713-345-3716
Impact: CORP
Time: Fri 5/11/2001 at 5:00:00 PM CT thru Fri 5/11/2001 at 5:15:00 PM CT
Fri 5/11/2001 at 3:00:00 PM PT thru Fri 5/11/2001 at 3:15:00 PM PT
Fri 5/11/2001 at 11:00:00 PM London thru Fri 5/11/2001 at 11:15:00 PM
London
Outage: Decommission of the following servers: intra, intra-dev, conman1,
aserv1, ardent, dbadmin
Environments Impacted: Corp
Purpose: Server no longer used. The servers will be decommissioned or
redeployed where necessary.
Backout:
Contact(s): Malcolm Wells 713-345-3716
Impact: CORP
Time: Sat 5/12/2001 at 2:00:00 AM CT thru Sun 5/13/2001 at 5:00:00 PM CT
Sat 5/12/2001 at 12:00:00 AM PT thru Sun 5/13/2001 at 3:00:00 PM PT
Sat 5/12/2001 at 8:00:00 AM London thru Sun 5/13/2001 at 11:00:00 PM London
Outage: Resource and OS upgrade to server fracture.
Environments Impacted: Global company RMS ECM
Purpose: An OS upgrade is needed to provide the disk upgrade solution.
Additionanl memory is needed as well.
Backout: Attach the old disk solution and reboot to old configuration.
Contact(s): Malcolm Wells 713-345-3716
Impact: ENA
Time: Sat 5/12/2001 at 10:00:00 PM CT thru Sat 5/12/2001 at 10:15:00 PM CT
Sat 5/12/2001 at 8:00:00 PM PT thru Sat 5/12/2001 at 8:15:00 PM PT
Sun 5/13/2001 at 4:00:00 AM London thru Sun 5/13/2001 at 4:15:00 AM London
Outage: Bounce PWRPROD1 database
Environments Impacted: Enpower User
Purpose: Change some configuration to improve database performance
Backout: Use the old parameter file.
Contact(s): Tantra Invedy 713 853 4304
SITARA: No Scheduled Outages.
SUN/OSS SYSTEM: No Scheduled Outages.
TELEPHONY:
Impact:
Time: Sat 5/12/2001 at 10:00:00 PM CT thru Sun 5/13/2001 at 1:00:00 AM CT
Sat 5/12/2001 at 8:00:00 PM PT thru Sat 5/12/2001 at 11:00:00 PM PT
Sun 5/13/2001 at 4:00:00 AM London thru Sun 5/13/2001 at 7:00:00 AM London
Outage: Quarterly Maintenance - Telephone System
Environments Impacted: All
Purpose: Quarterly maintenance. While voicemail nodes are being serviced (one
box at a time), a slight disruption will be experienced.
Messages will continue to be stored but will not be delivered until each node
of voicemail is back up and operational.
CMS call center management reporting will not be availalble during this
time.
Backout:
Contact(s): Cynthia Siniard 713-853-0558
TERMINAL SERVER: No Scheduled Outages.
UNIFY:
Impact: CORP
Time: Fri 5/11/2001 at 6:00:00 PM CT thru Fri 5/11/2001 at 7:00:00 PM CT
Fri 5/11/2001 at 4:00:00 PM PT thru Fri 5/11/2001 at 5:00:00 PM PT
Sat 5/12/2001 at 12:00:00 AM London thru Sat 5/12/2001 at 1:00:00 AM London
Outage: Memory replacement for server electron.
Environments Impacted: Unify Users
Purpose: Replace faulty memory module.
Backout: Get new memory if necessary
Restart server with out memory as last resort
Contact(s): Malcolm Wells 713-345-3716
------------------------------------------------------------------------------
-----------------------------------------------
FOR ASSISTANCE
(713) 853-1411 Enron Resolution Center
Specific Help:
Information Risk Management (713) 853-5536
SAP/ISC
(713) 345-4727
Unify On-Call (713) 284-3757 [Pager]
Sitara On-Call (713) 288-0101 [Pager]
RUS/GOPS/GeoTools/APRS (713) 639-9726 [Pager]
OSS/UA4/TARP (713) 285-3165 [Pager]
CPR (713) 284-4175 [Pager]
EDI Support (713) 327-3893 [Pager]
EES Help Desk (713)853-9797 OR (888)853-9797 |
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THIS WEEK'S ISSUE INCLUDES:
A MESSAGE FROM THE AMERICAN DIABETES ASSOCIATION...
Get the Diabetes Information You Want!
IN THE NEWS...
Medicare Funds Nutritional Therapy
FDA Approves Generic Metformin
Sexual Problems in Men With Diabetes, and More from Diabetes Care
A Major Gift to the Research Foundation
COMMUNITY AND RESOURCES...
Diabetes Forecast Live! Replay
ONLINE SHOPPING...
Type 2 Diabetes Your Healthy Living Guide
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A MESSAGE FROM THE AMERICAN DIABETES ASSOCIATION...
Get the Diabetes Information You Want!
Did you know that by registering with the ADA Web site, diabetes.org, we can provide you with information that is most interesting to you? Simply click on the link below. Once you have chosen your username and password, please take a few moments to tell us what type of diabetes information you are looking for and we'll do the rest!
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IN THE NEWS...
Medicare Funds Nutritional Therapy
On January 1, 2002, Medicare began covering medical nutritional therapy for many recipients with diabetes and kidney diseases. With this new benefit, around 4.5 million Medicare recipients with diabetes and an estimated 110,000 with kidney disease are eligible for medical nutritional therapy aimed at helping them learn to make healthy eating choices and better manage their conditions. The comments of Anne Daly, the Association's President, Health Care & Education, are featured in this article from The Washington Post covering the new benefit.
To learn more, click here: http://www.you-click.net/GoNow/a16366a51643a99406973a0
FDA Approves Generic Metformin
The US Food and Drug Administration recently granted approval to eleven generic drug manufacturers to market generic versions of Bristol-Myers Squibb Company's popular diabetes medication Glucophage (metformin). Glucophage is taken orally in pill form, and is currently the world's top-selling diabetes medication. The drug reduces blood sugar levels by curbing production of glucose by the liver.
To learn more, click here: http://www.you-click.net/GoNow/a16366a51643a99406973a1
Sexual Problems in Men With Diabetes, and More from Diabetes Care
According to a study published in the February issue of Diabetes Care, the Association's journal of clinical research, more than one-third of adult men with diabetes experience sexual dysfunction. Also in the February issue, a separate study shows that a particular type of weight-loss surgery can dramatically improve the health of severely obese people with diabetes, and in some cases even send the disease into remission.
To learn more, click here: http://www.you-click.net/GoNow/a16366a51643a99406973a2
A Major Gift to the Research Foundation
Terrance H. Gregg and Louise Cotting-Gregg, of Los Angeles, California, have pledged a total of $1,050,000 for the study of diabetes and pregnancy, to the American Diabetes Association Research Foundation. Mr. Gregg, President of Medtronic MiniMed, the world's leading maker of insulin pump devices, sits on the Association's Research Foundation Board of Directors, and will be honored by the Association's Los Angeles office as a Father of the Year on June 6, 2002.
To learn more, click here: http://www.you-click.net/GoNow/a16366a51643a99406973a3
COMMUNITY AND RESOURCES...
Diabetes Forecast Live!
Catch the replay of the January edition, "What's Hot in New Diabetes Products." Diabetes Forecast Live! is a monthly webcast that provides real-time interviews with diabetes experts, as well as special guests. This year has brought a bumper crop of new diabetes products that can help you manage your diabetes--click and hear more about them here: http://www.you-click.net/GoNow/a16366a51643a99406973a6
ONLINE SHOPPING...
Type 2 Diabetes Your Healthy Living Guide
From eating right and exercising to choosing a health care team, this book is a "must-have" guide when living with type 2 diabetes.
"Finally, a book with all the information you need in one place. Everyone
should own this book!"
David S. Schade, MD, Professor of Medicine
The University of New Mexico School of Medicine
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Mark: We need to discuss. Thanks.
Sara Shackleton
Enron North America Corp.
1400 Smith Street, EB 3801a
Houston, Texas 77002
713-853-5620 (phone)
713-646-3490 (fax)
[email protected]
----- Forwarded by Sara Shackleton/HOU/ECT on 05/21/2001 03:19 PM -----
Cheryl Nelson@ENRON
Sent by: Cheryl Nelson@ENRON
05/21/2001 12:20 PM
To: Sara Shackleton/HOU/ECT@ECT
cc:
Subject: Re: Enron Corp./Enron Credit Inc. ("ECI") guaranty amendment
(increase from USD25 Million to USD100 Million) in favor of Bear, Stearns, et
al
Hi Sara,
(1) For clarification, my voicemail was not full on Friday - I checked it,
got several messages including one fromTom Doukas and called him and others
immediately as I arrived. My voicemail was full on Monday - when I checked
in with Keegan on Monday late morningshe advised me of such and I deleted the
calls periodically. I do realize that I do get a lot of calls and emails due
to the 50 or so brokerage related agreements & the numerous deals I am
working on so I do try to clear the box daily.
(2) I can be of more assistance in the future if, instead of telling Keegan
you need a file, that you contact me directly. That way, I can make sure that
you get what you need. I took a lot of Enron calls and faxes while on
vacation so I would not have objected had you contacted me directly. That
way we do not have to put the burden on Keegan to locate my files -- although
I am sure she is more than willing to help, I do not think she knows much
about where I keep particular files or documents.
(3) Also with respect to Keegan, I wanted to relay to you that she felt
uncomfortable being quizzed by you or passing judgment as to why I have
chosen to receive orthodontal treatment in New York rather than in Houston.
(The answer to the question is irrelevant. If I were getting treatment
across the street from the office, I still could be here to do any work. My
getting the treatment in New York, while I am on vacation, does not affect my
presence in the office or undermine in any way my ability to do my job).
Equally important, apparently these were not fair questions of Keegan, as
she has informed me that they made her feel uncomfortable and she only
answered because she sensed or thought she was obligated to do so. Nor do I
think they are fair of me. I do not wish to justify my medical decisions
with my colleagues, especially provided that I am taking vacation time or
sick time I rightfully can take. It was previously represented to me that
our department policy is that when out for medical reasons, we should provide
in an email or otherwise convey a general statement - the details are not
required. If that is not the policy then please advise. In any case, if for
some justifiable reason you have to know such information and you need to
rely on it, it is best to ask me directly so that you can be sure that the
information you are getting is accurate.
Cheryl Nelson
Senior Counsel
EB3816
(713) 345-4693
http://gss.enron.com/
Sara Shackleton@ECT
05/21/2001 10:55 AM
To: Cheryl Nelson/NA/ENRON@ENRON
cc:
Subject: Re: Enron Corp./Enron Credit Inc. ("ECI") guaranty amendment
(increase from USD25 Million to USD100 Million) in favor of Bear, Stearns, et
al
Cheryl:
Thanks.
Also, please note that while you were away:
(1) Your voice mailbox was full.
(2) Keegan was immediately advised if we needed a file that could not be
located.
Sara Shackleton
Enron North America Corp.
1400 Smith Street, EB 3801a
Houston, Texas 77002
713-853-5620 (phone)
713-646-3490 (fax)
[email protected]
Cheryl Nelson@ENRON
Sent by: Cheryl Nelson@ENRON
05/21/2001 10:36 AM
To: Sara Shackleton/HOU/ECT@ECT
cc: Stephanie Panus/NA/Enron@Enron, Tom Doukas/Enron@EnronXGate
Subject: Re: Enron Corp./Enron Credit Inc. ("ECI") guaranty amendment
(increase from USD25 Million to USD100 Million) in favor of Bear, Stearns, et
al
Sara:
I will forward the documents to you.
For future reference, if anyone is looking for a file for an urgent matter
while I am out, she should convey that fact to me by either (1) leaving a
voice mail - as I checked my voicemails on Friday (that is how I was able to
speak with Tom from New York on Friday) or (2) advise Keegan and she will
contact me immediately by cell phone as she did regarding other matters on
Friday.
Cheryl Nelson
Senior Counsel
EB3816
(713) 345-4693
http://gss.enron.com/
Sara Shackleton@ECT
05/15/2001 03:45 PM
To: Cheryl Nelson/NA/Enron@Enron
cc: Tom Doukas/Enron@EnronXGate, Stephanie Panus/NA/Enron@Enron
Subject: Enron Corp./Enron Credit Inc. ("ECI") guaranty amendment (increase
from USD25 Million to USD100 Million) in favor of Bear, Stearns, et al
Cheryl:
I spoke with Clem and he is preparing the amendment for immediate execution
as the signers will be at an offsite tomorrow. I'll let Tom know as soon as
the amendment has been executed. Anna Meytina is on vacation so I left a
message with Sharon Chernick.
In order to complete our files with respect to the Enron North America Inc.
("ENA") Securities Loan Agreement, please provide me with copies of the
following documents:
(1) assignment of the Securities Loan Agreement from ENA to ECI (or was a
separate agreement with ECI executed?)
(2) termination of the prior Enron Corp. guaranty on behalf of ENA in the
amount of USD25 Million
I spoke with Stephanie and she could not locate your Bear/ECI files on Friday
of last week.
Thanks.
Sara Shackleton
Enron North America Corp.
1400 Smith Street, EB 3801a
Houston, Texas 77002
713-853-5620 (phone)
713-646-3490 (fax)
[email protected] |
Good work if you can find it ....
Wednesday, July 4, 2001
Energy Novice to Be Paid $240,000
Power: Hefty annual salary goes to consultant with one year's experience in
the field. State officials say she is doing a good job.
By JEFFREY L. RABIN, DARYL KELLEY, Times Staff Writers
The Davis administration is paying a young business consultant with
barely a year's experience in the energy industry $240,000 annually to head a
team of traders who secure California's daily electricity supply.
State officials hired Susan T. Lee, 30, in April without competitive
bidding under an emergency declaration by Gov. Gray Davis.
Lee's contract is equal to the $20,000 a month that Davis pays his chief
energy advisor, S. David Freeman, a top utility executive for decades.
The two-year contract will pay Lee up to $480,000 to oversee the state's
day-to-day energy purchases, totaling billions of dollars a year.
Lee's contract reflects the pressure and difficulties the state says it
faces to fill key jobs in its new role as one of the nation's largest power
buyers, a role that it took on in January as California's utilities faltered.
Lee's contract was one of about a dozen released Monday, and among the
largest.
Reached at her Sacramento office, Lee would not discuss her contract.
She said only that she heads a 15-person team of traders and schedulers that
works long hours to keep California's power flowing.
Pete Garris, a contracts manager for the state Department of Water
Resources who recruited Lee, said he met her at industry meetings and had
been impressed by her savvy.
He said he gave her a pay raise to lure her to state service in April
after Ron Shimizu, her boss at Mieco Inc., a trading firm in Long Beach,
recommended her. Shimizu refused comment Tuesday.
The state, according to Garris, must compete for employees against an
aggressive energy industry and pay good salaries to stay in the game.
"You can consider this situation to be very extraordinary," Garris said.
"Unless we can get permanent and full-time positions approved, these are the
rules we have to follow to be able to hire [consultants]."
Garris insisted that it is unfair to compare Lee's contract with the
six-month, $120,000 deal that Freeman--the former boss at several major
utilities--struck with the governor.
"I don't want to compare Susan Lee to David Freeman," Garris said.
"David comes from the Los Angeles Department of Water and Power and Susan
came from a [private] power marketer. With Susan, we just followed the
standard formula."
In her new job, Lee will direct an immensely complicated,
around-the-clock operation responsible for "procuring energy, scheduling
power and associated transmission, and reconciling deviations between
contracts and deliveries," according to her contract.
Lee's resume, attached to the contract, shows that she had no experience
in the energy field until March 2000, when she joined Mieco. There, she was a
trader and power scheduler, not a manager.
"She was only here for a year or so," said Dina Alvarez, an
administrative manager for the company.
A 1994 graduate of UCLA with a degree in economics, she worked as a
pension and benefits manager in Los Angeles and New York before joining
Mieco.
Lee's contract stands out compared to others disclosed this week, not
only for its size but for her relative inexperience in the energy field.
She is being paid $120 an hour and can earn a maximum of $480,000,
including expenses, by April 2003.
Another new consultant, William L. Green, has almost a quarter of a
century of experience working for the Bonneville Power Administration,
Pacific Gas & Electric and the California Independent System Operator. He is
being paid $85 an hour to supervise workers who reconcile the state's
accounting of energy purchases. His two-year deal is worth up to $340,000.
They are not alone in cutting lucrative deals.
Richard Ferreira, the former assistant general manager at the Sacramento
Municipal Utilities District, has a $500,000 contract and is being paid $200
an hour to assist the state in negotiating power purchase contracts. He
worked for the Department of Water Resources for 23 years before joining the
Sacramento agency in 1987.
Hardy Energy Consulting also has a $150,000, six-month contract that
calls for Randy Harvey to be paid $300 an hour. Harvey has a quarter of a
century of energy experience, particularly at the Bonneville Power
Administration, where he was chief executive officer from 1991 to 1997.
Lee's recruiter, Garris, said her lack of experience is not a concern.
"So far she's done an excellent job," he said. "She has the skills, and
she has the ability. She was doing a similar job."
Dozens of consultants, including Lee, have been hired since January,
when Davis declared an energy emergency and set up a special arm of
government to buy power.
The state filled a vacuum when generators refused to sell to PG&E,
Southern California Edison and San Diego Gas & Electric because they were no
longer considered credit-worthy, said Oscar Hidalgo, spokesman for the
Department of Water Resources.
Hidalgo said that about 60% of the 95 people now working for the
division are consultants. The rest are state employees.
As part of the process, Lee's unit oversees the purchase of power a day
ahead of when it is needed. Hidalgo said Lee is involved in contracts that
extend no more than three months.
Copyright 2001 Los Angeles Times |
Thanks! Our team has been working on the supreme decree for over two years
and it is gratifying to finally bring this in, given that it will have a
significant financial benefit for Enron/Transredes. I have included an
executive summary and detailed report below.
Executive Summary
Through the efforts of the Transredes regulatory team:
A presidential Supreme Decree, establishing a new tariff methodology for
Bolivian gas transportation, has issued and gone into effect.
The recovery mechanism we proposed will allow Transredes to recover over
US$100 million, which was at risk. This amount, residing in the gas deferred
account, will be recovered over 20 years (instead of 25 under the former
regulations) and will take the form of a surcharge on all gas transported by
any pipeline in Bolivia (instead of being assessed only on Transredes
transport volumes, as per the former regulations).
In the future, Transredes will be able to fully recover all of its prudently
incurred costs, and the full rate of return contemplated by the Hydrocarbon
Law, via tariffs charged for transportation on the domestic and export oil
concessions, and the export gas concession.
The mechanism advanced by government to subsidize the transportation tariff
of the domestic gas concession in the future will, in all likelihood, allow
Transredes to receive the full rate of return contemplated by the Hydrocarbon
Law, although the mechanism needs to be fleshed out further.
The Supreme Decree will also allow Transredes, rate case, financing program
and pending bond issue to move forward.
Detailed Report
This is a significant development in the Bolivian regulatory arena. The
Supreme Decree, establishing a new tariff methodology for natural gas
transportation in Bolivia, was signed by President Banzer and was published
in the official gazette on Wednesday. We officially learned about it
yesterday upon receipt of a certified copy. The new methodology and
regulations are now in effect.
The decree provides for full recovery of Transredes' gas deferred account
over the next twenty years via a surcharge on ALL volumes exported from
Bolivia, whether transported by Transredes or not. The magnitude of the gas
deferred account is much greater than anticipated due primarily to severe
export shortfalls as compared to projected export volumes. This is due in
large part to delays in the development of the Brazilian market and to
expiration of gas sales and export agreements between Bolivia and Argentina
(in 1999). Please see the attached graph comparing the volumes projected by
the Bolivian government to set transitory tariffs, prior to privatization,
with the actual volumes transported.
The gas deferred account is estimated to be approximately US$101 million
(plus approximately US$ 60MM for the hydrocarbon liquids deferred account,
giving a total of US$161MM). Please see attached Gas Deferred Account and
Total Deferred Account graphs. These amounts represent the shortfall in
revenues experienced due to insufficiently high transitory tariffs, plus the
cost of capital at 7%.
The recovery mechanism for the gas deferred account represents the mitigation
of a significant exposure that existed at the time we acquired the company:
the transportation concessions are nonexclusive and producers have the
explicit right in the Hydrocarbon Law to build their own (bypass) pipelines,
yet the deferred account recovery mechanism placed the burden of recovery
solely on the transportation tariffs of Transredes. The change in
regulations not only secures recovery of these amounts in a commercially
viable manner but will dis-incentivize threatened bypasses.
In the future, Transredes will also be able to fully recover all of its
prudently incurred costs and rate of return via tariffs charged for
transportation on the domestic and export oil concessions, and the export gas
concession. We believe that the tariff mechanism for the domestic gas
concession may require additional detail work. The mechanism provides for a
ceiling rate of US$0.41 for transportation in the domestic concession and a
surcharge on all export volumes of US$0.03. These tariff components will not
be sufficient to recover the costs and rate of return contemplated by the
Hydrocarbon Law to be recovered by Transredes. However, there appears to be
no impediment to collecting the revenue shortfall in the Transredes export
gas tariff. The regulatory team will continue trying to "firm up" this
mechanism.
The Supreme Decree will also allow Transredes' rate case to move forward.
The rate case filing made in late January kicked off a process that will
culminate in the approval of new economic rates to be effective on May 16.
The decree and rate case filing will also allow the Transredes financing
program and pending bond issue to move forward. These have been stalled for
months due to lender doubts and uncertainty about rates and recovery of the
deferred account.
Richard Shapiro
03/22/2001 05:50 PM
To: Ray Alvarez/NA/Enron@ENRON
cc: Steven J Kean/NA/Enron@Enron, James D Steffes/NA/Enron@Enron
Subject: Re: Supreme Decree
Congrats!!
Ray Alvarez
03/22/2001 04:29 PM
To: Richard Shapiro/NA/Enron@Enron
cc:
Subject: Supreme Decree
Rick, I heard from my Bolivia regulatory team that the supreme decree is a
reality and that it is very positive- including full recovery of the $100MM
gas deferred account that we were hanging out on. I will provide more
details as soon as I receive them. Ray |
----- Forwarded by Marie Hejka/Corp/Enron on 01/16/2001 05:32 PM -----
Marie Hejka
01/16/2001 12:05 PM
To: Melissa Becker/Corp/Enron@ENRON, Anthony Mends/Enron Communications,
Andrea Yowman/Corp/Enron@ENRON, Joe Wong/enron@enronXgate@enronXgate, Debbie
R Brackett/HOU/ECT@ECT, Pegi Newhouse/HOU/EES@EES, John
Gillespie/Enron@EnronXGate, Kathleen Pope-Sance/HOU/EES@EES, Steve
Woods/EPSC/HOU/ECT@ECT, Georgeanna Hoiseth/Corp/Enron@ENRON, Judith
Schlesinger/HOU/ECT@ECT, Allan Sommer/Corp/Enron@Enron
cc: Beth Perlman/enron@EnronXgate, George Wasaff/Enron@EnronXGate, Kent
Morrison/NA/Enron@ENRON, John Simmons/NA/Enron@Enron, Paul
Timberlake/ET&S/Enron@Enron, Allen Elliott/HOU/ECT@ECT
Subject: Your thoughts required by 3 :00 p.m. 1/17 meeting.
Please read and be prepared to discuss at tomorrow's task force meeting.
(Paul is scheduled to speak to us to help us make a decision. FYI - I plan
to circulate the agenda before the meeting.)
Below are Paul Timberlake's notes from Friday morning's Software Selection
Team meeting.
You may remember in the beginning of this project we discussed piloting
Autonomy or an unstructured data management tool in order to reach
qualitative and quantitative information.
Some discussion was lent to finding a product perhaps which would search
email to identify experts.
Further, we discussed the value in finding a product which could help us
identify experts within Enron.
Since these discussions, we hired a Business Analyst who interviewed some 29
people and surveyed 30 additional people who concurred finding experts in
Enron would be useful.
However, only 50% of those interviewed suggested they would tag email for
others to search regardless if it could help identify experts.
But, over 90% of those surveyed agreed an Enterprise Search Engine would be
useful.
Based on what we now know, the Software Selection Team will be evaluating
three Enterprise Search Engine vendors (Inktomi, Autonomy, and Verity).
These vendors DO NOT search email like the vendor TACIT. Autonomy provides
some feature/functionality to search email (the full extent of which will be
evaluated by the SST).
Are we prepared to invest in a much more expensive search engine with
categorization feature/functionality which may provide a more robust search
platform of the future or should we decide to invest in the best value for
our current needs? Categorization is the classification of information
sources, such as documents or Web pages into a taxonomy. With some products,
the taxonomy must be determined beforehand and rules specified (both manual
operations) to tell the product how to classify information sources it
encounters. Other tools claim they create the taxonomy using a proprietary
method. See Paul's "Issue" section below.
----- Forwarded by Marie Hejka/Corp/Enron on 01/12/2001 05:52 PM -----
Paul Timberlake
01/12/2001 04:16 PM
To: Marie Hejka/Corp/Enron@ENRON, Kent Morrison/NA/Enron@ENRON, Allen
Elliott/HOU/ECT@ECT
cc: John Simmons/NA/Enron@Enron
Subject: KM/IM Meeting Notes 1/12/2001
Meeting Notes
From the 1/05 weekly meeting, it was decided that the tool being sought was
best classified as an Enterprise Search Engine (ESE) solution. This
distinction was arrived at after reviewing the characteristics described in
the charter and associated survey as to what was meant by an unstructured
data management tool.
Three leading vendors in this market are Inktomi, Autonomy, and Verity. To
stay within the time frame of the overall project, the scope of the search
tool evaluation will focus on these three vendors. Evaluation criteria
have been developed to compare the tools. This criteria focuses on the
tools' indexing and search functionality
At present the criteria excludes categorization functionality. The reason
for this is categorization is expected to involve manual effort from various
groups who own content that will be categorized. This characteristic is at
odds with the project charter requirement that the tool be unobtrusive to
current processes and culture.
Because indexing and search functionality is becoming similar among ESE
tools, it is expected that the ESE evaluation will boil down to a price
decision with Inktomi being the winner.
The three ESE vendors are being lined up to visit Enron and present their
products beginning next week through the week of January 22nd. All
interested parties are encouraged to attend.
Issue
At issue is whether categorization functionality should be included in the
ESE evaluation - or continue to focus only on indexing and search
functionality. All three vendors being evaluated include a categorization
component.
By not including categorization, we run the risk of selecting a vendor whose
categorization capabilities may not be as robust as another's. Integrating
another vendor's solution later on may prove difficult and costly.
By including categorization functionality, the evaluation criteria become
ambiguous. This is because the requirements around categorization are not
well defined at present. Consequently, we run the risk of selecting an
over-enginneered and most costly product whose perceived benefits may never
be realized.
We need more direction from the project sponsors as to what priority to place
on categorization functionality. If it is considered a priority then we also
need end user groups with specific problems identified that, if solved, could
effectively evaluate the tool and justify any additional costs. |
Louise,
Sorry I forgot to answer your financials question. We already have
financial swaps for gas. Financial electricity we can add very quickly with
someone's design assistance. We only need minimal help to validate product
specification. Functionality won't change.
I'm sorry if I was unclear on Europe/Japan. I agreed that if you give us
your numbers in those markets you would get 10%, but I need to know whether
you are going to do that as part of this deal so I can complete other
liquidity partner discussions accordingly. It wasn't intended as an open
option. We can discuss Europe and Japan in the future, I'm just not sure I
can guarantee you 10% at that time. I've got my Board primed if we do it
right now. Perhaps we could agree that we will do it and you get your 10%
in each entity now, but that the actual technology link doesn't start until
later this year?
Regards,
Frank
-----Original Message-----
From: [email protected] [mailto:[email protected]]
Sent: Tuesday, May 16, 2000 4:26 PM
To: [email protected]
Cc: [email protected]; [email protected];
[email protected]; [email protected]; [email protected]
Subject: RE: Follow-up on Friday's meeting
I thought the European/Japan 10% was done ie if we put products we get 10%,
ie an option we could decide on later.
Any idea also on the financial date as our guys do not think we can make
any volume targets without it. We are working on crude and products.
Also Mark please liaise with Frank on the documentation you require from
him.
Thanks
Louise
(Embedded Enron Capital & Trade Resources Corp.
image moved
to file: From: "Frank Getman, HSE"
pic03909.pcx) <[email protected]>
05/16/2000 02:51 PM
To: "'[email protected]'" <[email protected]>
cc: "Frank Getman, HSE" <[email protected]>,
[email protected], [email protected], [email protected]
Subject: RE: Follow-up on Friday's meeting
Louise,
Thanks for your email. Your list for power and gas products are fine. I
agree we can add products/markets going forward as appropriate. We also
discussed posting your numbers for crude and products. I believe we agreed
crude and products would not be part of any volume targets, but that we
would incorporate those products in the first round. Please provide me a
list for crude and products based on what we offer on HoustonStreet. Also,
any thoughts on whether you want to take me up on my offer to include your
numbers in Europe (UK, Germany and Scandanavia) and Japan for an additional
10% equity in each of those markets? The reason I ask is that we are
engaged in liquidity partner discussions right now and your answer might
affect our decisions. We are on target to go live in Europe this Summer.
As for corporate docs, we are prepared to deliver whatever you need to see
whenever it is appropriate. Just let me know when you would like them and
I'll arrange to get them to the appropriate individual at Enron.
Regards,
Frank
-----Original Message-----
From: [email protected] [mailto:[email protected]]
Sent: Tuesday, May 16, 2000 7:19 AM
To: [email protected]
Cc: [email protected]; [email protected];
[email protected]; [email protected]
Subject: Re: Follow-up on Friday's meeting
Also Frank I think you'll have to provide a lot of the corporation/equity
documentation.
Thanks
Louise
Louise Kitchen
05/16/2000 06:09 AM
To: "Frank Getman, HSE" <[email protected]> @ ENRON
cc: "'[email protected]'" <[email protected]>@ENRON,
"'[email protected]'" <[email protected]>@ENRON, Andy
Zipper/Corp/Enron@Enron
Subject: Re: Follow-up on Friday's meeting (Document link: Louise
Kitchen)
I spoke to Mark yesterday and he is moving as fast as possible - it may be
a good idea to start with a detailed term sheet whilst the fuller document
is in drafting (we will be using external counsel to speed things up).
I looked at your list of products (sent by Kevin) which is a great deal
wider than those we quote. I think the best qay to proceed would be with a
manageable list from which we build as soon as both parties are happy with
the technology.
I have attached a draft list below (natual gas an power only so far), the
terms would be dependent of their availability. When do you plan to
introduce financial transactions?
(See attached file: product list.doc)
Due to the time difference this week - the easiest way of contacting me is
email. I would also suggest we think about setting up a meeting for early
next week to go through the draft.
Regards
Louise
(Embedded Enron Capital & Trade Resources Corp.
image moved
to file: From: "Frank Getman, HSE"
pic04304.pcx) <[email protected]>
05/15/2000 11:19 AM
To: "'[email protected]'" <[email protected]>
cc: "'[email protected]'" <[email protected]>, "Louise Kitchen
(E-mail)" <[email protected]>
Subject: Follow-up on Friday's meeting
Hi Mark,
Thanks for taking time on Friday to participate in our meeting. I think we
made good progress -- by the end of the day, Louise and I were able to
resolve most, if not all, major items. Late on Friday, Kevin Sluder from
my
office forwarded to Louise by email a list of the proposed markets on
HoustonStreet for which we would look to receive prices electronically from
EnronOnline. Louise indicated that you would attempt to have a draft
agreement available late in the day on Monday or Tuesday morning. I wanted
to confirm this timing so I can make sure I have the appropriate
individuals
on my end ready to turn it around. I think it is in everyone's interest to
try to push this forward this week.
Please let me know if you need any additional information from
HoustonStreet.
Best regards,
Frank Getman
[email protected] |
---------------------- Forwarded by Daren J Farmer/HOU/ECT on 02/04/2000
06:35 AM ---------------------------
"Glover, Rusty" <[email protected]> on 02/03/2000 03:46:11 PM
To: "GREG (E-mail)" <[email protected]>, "CHERYL (E-mail)"
<[email protected]>, "ROCHELLE (E-mail)" <[email protected]>,
"FENNY (E-mail)" <[email protected]>, "KAK (E-mail)"
<[email protected]>, "stick (E-mail)" <[email protected]>,
"CAMILLE (E-mail)" <[email protected]>, "KYLE (E-mail)" <[email protected]>,
Daren J Farmer/HOU/ECT@ECT, "BRAD DAVIS (E-mail)" <[email protected]>, "JON
CROSS (E-mail)" <[email protected]>
cc:
Subject: FW: Missing Man Formation
-----Original Message-----
From: Abbott, Todd
Sent: Wednesday, February 02, 2000 5:00 PM
To: Glover, Rusty; Beard, Jaime; Woodson, Todd; Hauser, Tony; Canedy,
Frank; 'Hatch, Jessica'; 'Lynch, Jerilyn'; 'Rea, Michelle'; 'Van
Fleteren, Jennifer'
Subject: FW: Missing Man Formation
-----Original Message-----
From: Jennifer Martin [mailto:[email protected]]
Sent: Tuesday, February 01, 2000 7:16 PM
To: [email protected]; Abbott, Todd; [email protected];
[email protected]; [email protected]
Subject: Fwd: Missing Man Formation
>From: "K.C. Allan" <[email protected]>
>To: [email protected], [email protected], [email protected],
>[email protected], [email protected], [email protected],
>[email protected], [email protected], [email protected],
>[email protected], [email protected], [email protected],
>[email protected], [email protected], [email protected],
>[email protected], [email protected], [email protected],
>[email protected], [email protected], [email protected],
>[email protected], [email protected], [email protected],
>[email protected], [email protected], [email protected],
>[email protected], [email protected],
>[email protected], [email protected]
>Subject: Missing Man Formation
>Date: Tue, 01 Feb 2000 10:47:31 CST
>
>
>
______________________________________________________
Get Your Private, Free Email at http://www.hotmail.com
- att1.htm
Message-ID: <[email protected]>
From: Chuck Ellison <[email protected]>
To: "Denise Werst (E-mail)" <[email protected]>, "Bill Helwig (E-mail)"
<[email protected]>, "Bill Martin (E-mail)" <[email protected]>, "Bill
Mitchem (E-mail)" <[email protected]>, "Bob Appleton (E-mail)"
<[email protected]>, "Bob Shield (E-mail)"
<[email protected]>, "Clint Schroff (E-mail)" <[email protected]>, "David
Hickson (E-mail)" <[email protected]>, "Don Jones (E-mail)"
<[email protected]>, "Jimmy Bond (E-mail)" <[email protected]>, "Jon Miller
(E-mail)" <[email protected]>, "Kent Caperton (Business Fax)"
<IMCEAFAX-Kent+20Caperton+40+2B1+20+28512+29+20370-2850@ellisonlaw.com>,
"Kim Ellison (E-mail)" <[email protected]>, "Marty Roos (E-mail)"
<[email protected]>, "Mat Moten (E-mail)" <[email protected]>, "P.K. Imbrie
(E-mail)" <[email protected]>, "Paul Clarke (E-mail)"
<[email protected]>, "Penny King (E-mail)" <[email protected]>, "PJ
Ellison (E-mail)" <[email protected]>, "Porter & Lisa Garner (E-mail)"
<[email protected]>, "Reba Ragsdale (E-mail)" <[email protected]>, "Ron
Spies (E-mail)" <[email protected]>, "Steve Beachy (E-mail)"
<[email protected]>, "Steve Rodgers (E-mail)"
<[email protected]>, "Ted Beck (E-mail)" <[email protected]>, "Wallace
Trochesset (E-mail)" <[email protected]>, Tedi <[email protected]>, "Alan
Futrell (E-mail)" <[email protected]>, "Bill Flores (E-mail)"
<[email protected]>, "Brent Futrell (E-mail)" <[email protected]>, "Chris Burkard
(E-mail)" <[email protected]>, "David Buttery (E-mail)" <[email protected]>,
"Dean Williams (E-mail)" <[email protected]>, "Fred & Harriet McClure
(E-mail)" <[email protected]>, "H. Lewis Aven (E-mail)"
<[email protected]>, "John Hatridge (E-mail)" <[email protected]>,
"JOHN WOFFORD (E-mail)" <[email protected]>, "Keith Merrick
(E-mail)" <[email protected]>, "Ladd Roberts (E-mail)"
<[email protected]>, "Mark Probst (E-mail)" <[email protected]>, "Mike Havel
work (E-mail)" <[email protected]>, "Robert Waggoner (E-mail)"
<[email protected]>, "Steve Webb (E-mail 2)" <[email protected]>, "Steve
Webb (E-mail)" <[email protected]>
Subject: Missing Man Formation
Date: Tue, 1 Feb 2000 10:02:20 -0600
Return-Receipt-To: Chuck Ellison <[email protected]>
MIME-Version: 1.0
X-Mailer: Internet Mail Service (5.5.2448.0)
Content-Type: multipart/mixed;
boundary="----_=_NextPart_002_01BF6E90.16740850"
I hope that you enjoy this as much as I did. For those of you who cannot
get it open, it is a picture from the cockpit of the plane of the missing
man during the flyover at the A&M vs. tu game.
<<Kyle Field.jpg>>
Chuck Ellison
Charles A. Ellison, P.C.
P.O. Box 10103
College Station, TX 77842
(409) 696-9889
(409) 693-8819 (fax)
[email protected]
This e-mail message is for the sole use of the intended recipient(s) and may
contain confidential and privileged information. Any unauthorized review,
use, disclosure or distribution is prohibited. If you are not the intended
recipient, please contact the sender by reply e-mail and destroy all copies
of the original message. Thank you.
- att2.htm
- Kyle Field.jpg |
Link to www.ze.com [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] Critical Trade Information on a Timely Basis [IMAGE]
[IMAGE]Price Views - Market Views - Credit Views An Unforgiving Market Deciphering and responding to elements driving the changing competitive power and natural gas markets is an inordinately complex task. The challenge has proven to be too difficult for even some of the largest players; those which have appeared to be the most stable and capable. The plights of Enron, the California Power Exchange, SDG&E and PG&E highlight the difficulties that sophisticated market participants and regulators face when trying to manage change. The Enron collapse, in particular, should drive home the extent of exposure that interconnected counterparties and market participants face. The market is impartial and unforgiving. From the biggest to the smallest; the public and the private, all face similar risks and have similar needs. The major ratings agencies and the financial community have begun to focus heavily on the risks and information requirements of the power industry. We, as active market participants, must also be concerned about these risks, taking steps to identify, measure and mitigate them as much as possible. In most cases, the difference between success and failure depends on whether you have access to the right data and are able to use it in the right way in a timely manner. Maintaining a competitive advantage and surviving the volatile swings of transacting in competitive energy markets requires having access to, and being able to interpret and respond to, the right data before such information becomes commonly obvious. Hindsight is 20/20 - success in evolving markets is achieved through developing the capability and foresight to take preventative and proactive steps. History of Providing Clients with the Right Tools ZE PowerGroup has a long history of providing its clients with the strategic support they need to navigate through uncertain markets. In response to high market demand, we have developed a market-monitoring product that provides corporations the market intelligence, direction, forward price views and credit data needed to support trading activities. We realize that the cost, expertise and infrastructure required to develop timely data systems and analytical intelligence can be prohibitive on an individual basis. We think that we can leverage our expertise and considerable investment in these systems with a diverse group of clients and hence, greatly reduce individual subscriber costs. Decision making in current markets is not easy, it requires rigorous information extraction, sophisticated data analysis and application of considerable expert judgment (all difficult, costly and time consuming endeavors) Price, Market and Credit View Subscription Service We believe the service described below provides cost effective and timely access to information critical to portfolio management, credit risk management and term trading. The service will include one ZE Area and the following, 1. Initial report Regional background information Description of the ZE Forward Views development philosophy and methodology Description of the credit review system and ratings methodology 2. Mid-term views (eighteen months); includes Monthly average prices and LLH/HLH differentials Provide probabilistically derived mean price view and associated bands of uncertainty (5%, 25%, 75% 95%) Provided for client selected electric and gas hubs Detailed explanation of assumptions Tables and Graphs provided in user friendly excel sheets Updated monthly 3. Intermediate-term views (five year); includes Monthly average prices for sixty months and LLH/HLH differentials Provide probabilistically derived mean price view and associated bands of uncertainty (5%, 25%, 75% 95%) Provided for client selected electric and gas hubs Detailed explanation of assumptions Tables and Graphs provided in user friendly excel sheets Updated quarterly 4. Long-term views (twenty year); includes Yearly average prices for twenty years Provide probabilistically derived mean price view and associated bands of uncertainty (5%, 25%, 75% 95%) Provided for client selected electric and gas hubs Detailed explanation of assumptions Tables and Graphs provided in user friendly excel sheets Updated semi-annually 5. Executive market views: Two page regional review which provides key perspectives on market events Delivered monthly [IMAGE] [IMAGE] [IMAGE] 6. Counter-party credit views ZE PowerGroup uses its software and expertise, combined with financial and market analysis to develop client specific credit reviews of counter-parties. Clients can specify the counterparties that they wish to have reviewed. Counter-party reviews are updated monthly; includes updating credit review rating, updating of trade limits and reporting of assumptions/changes from last period Contact To download a PDF brochure with additional information click here . To speak to someone directly regarding the service, pricing or product customization please contact: Paul Seo Marketing Manager [email protected] , 604-244-1469 or Aiman El-Ramly Vice President Marketing and Business Development [email protected] , 604-244-1654. General information about ZE PowerGroup can be found at www.ze.com . [IMAGE] [IMAGE] [IMAGE]
[IMAGE] Link to www.ze.com [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] You received this newsletter because your email address is on our mailing list. We hope you find our mailings useful. However, if you'd like your name taken off the mailing list, you can do so by replying to this email with UNSUBSCRIBE in the subject line. |
Kay, see clarifications below. Thanks for your help.
-----Original Message-----
From: Mann, Kay
Sent: Tuesday, May 29, 2001 11:52 AM
To: Rorschach, Reagan; Fairley, David; Kroll, Heather; May, Tom; Coulter,
Kayne
Subject: comparison of definitions - 1st in each pair is from letter
agreeement
1. &Ancillary Services8 or &AS8 means those services required by Entergy,s
interconnection agreement with MDEA or Entergy,s tariff.
OR
[Rorschach, Reagan] Use this one below with noted change.
&Ancillary Services8 or &AS8 means those services [Rorschach, Reagan]
defined in Entergy,s interconnect agreement with MDEA or Entergy,s tariff.
2.&Available Energy8 means Energy that is available for sale on any given day
that is in excess of MDEA,s Native Load.
OR
[Rorschach, Reagan] Use this one below.
&Available Energy8 means Energy that is available for sale on any given day
that is in excess of (i) MDEA,s Native Load, and (ii) the Energy required to
be sold under any Existing Transactions, up to the total amount of Energy on
any day that can be produced from the Facilities.
3.&Available Energy8 means Energy that is available for sale on any given day
that is in excess of MDEA,s Native Load.
OR
&Available Energy8 means Energy that is available for sale on any given day
that is in excess of (i) MDEA,s Native Load, and (ii) the Energy required to
be sold under any Existing Transactions, up to the total amount of Energy on
any day that can be produced from the Facilities.
4.&Confirmation8 means a confirmation of a transaction or transactions.
OR
[Rorschach, Reagan] Use this one below.
&Confirmation8 means the document provided for under the MPPSA or the MGPSA
and with the corresponding third party under a Back-to-Back Transaction or
with EPMI which specifies the Product being bought or sold, the duration of
the Transaction and the other terms, including price. A daily report of all
hourly (or similarly short term) purchases and sales will be provided to the
Customer and shall serve as a Confirmation for those transactions under the
MPPSA or MGPSA.
5.&Delivery Point8 means the busbar of the respective Facilities located at
the interconnection between CPUC,s and YCPSC,s respective transmission
systems at the 115 kV switching station at the respective interconnections
with the Entergy transmission system.
Or
[Rorschach, Reagan] Use this one below.
&Delivery Point8 &Point of Delivery8 or &POD8 means (a) for power (i) the
interfaces located at the interconnection between Clarksdale and Yazoo City
transmission systems at the Entergy system, or (ii) the point specified in
any Back-to-Back Transaction, EPMI Transaction or Structured Transaction at
which Products are to be tendered under a Confirmation; (b) for natural gas,
(i) for Clarksdale, the point of interconnection between Texas Gas and
Clarksdale (ii) for Yazoo City, the interconnection between Southern Natural
Gas (Sonat) and Mississippi Valley Gas for the Yazoo City Power Plant (the
Sonat Delivery Point) (iii) the interconnection between Mississippi Valley
Gas (MVG) and the Yazoo City Power Plant (MVG Delivery Point), (iv) any point
where fuel is delivered as specified in a Fuel Transaction.
6.&Incentive Fee8 means forty percent (40%) of the Savings and of the net
profit from external sales of the Cities, natural gas resources and the
purchase of on-peak Energy, as calculated in accordance with Article III of
this ILA.
Or
&Incentive Fee8 means the fee described in [Section].
7.&Market Price8 is the price agreed by the parties to be paid by EPMI in any
EPMI Transaction for the sale of Energy to third parties, or the amount to be
paid to EPMI for the sale of Energy to the Cities and/or MDEA.
or
[Rorschach, Reagan] Use this one below.
&Market Price8 is the price agreed to (i) by any third party for the sale or
purchase to or from EPMI or MDEA in a Back-to-Back Transaction, (ii) the
price paid by EPMI in any EPMI Transaction or (iii) by any third party
pursuant to any Structured Transaction.
8. &Protocols8 shall mean the SPP Protocols duly adopted by SPP, including
any attachments or exhibits referenced thereby, as amended from time to time,
containing the scheduling, operating, planning, reliability, and settlement
(including customer registration) policies, rules, guidelines, procedures,
standards, and criteria of SPP. For the purposes of determining
responsibilities and rights at a given time, the Protocols, as amended in
accordance with the change procedure(s) described in the Protocols, in effect
at the time of the performance or non-performance of an action, shall govern
with respect to that action.
or
[Rorschach, Reagan] Use this one below.
&Protocols8 shall mean the Protocols duly adopted by SPP, SERC, NERC, and/or
Entergy, including any attachments or exhibits referenced thereby, as amended
from time to time, containing the scheduling, operating, planning,
reliability, and settlement (including customer registration) policies,
rules, guidelines, procedures, standards, and operations criteria. For the
purposes of determining responsibilities and rights at a given time, the
Protocols, as amended in accordance with the change procedure(s) described in
the Protocols, in effect at the time of the performance or non-performance of
an action, shall govern with respect to that action.
9.&Savings8 shall mean the difference between 1) the total costs to MDEA
and/or the Cities of a Transaction, and 2) the total costs of MDEA and/or the
Cities avoided or displaced by the Transaction, which difference shall be
calculated as described in Article III of this ILA.
not defined in rev 23 definitions
[Rorschach, Reagan] Reference that Savings is defined in the Exhibit (see
attached file "Incentive Fee Calc") |
------------------------------------------------------------------------------
------------------------
W E E K E N D S Y S T E M S A V A I L A B I L I T Y
F O R
May 11, 2001 5:00pm through May 14, 2001 12:00am
------------------------------------------------------------------------------
------------------------
SCHEDULED SYSTEM OUTAGES:
ARDMORE DATA CENTER - FACILITY OPERATIONS: No Scheduled Outages.
AZURIX: No Scheduled Outages.
EB34 DATA CENTER - FACILITY OPERATIONS: No Scheduled Outages.
EDI SERVER: No Scheduled Outages.
ENRON CENTER SOUTH DATA CENTER - FACILITY OPERATIONS: No Scheduled Outages
ENRON NORTH AMERICAN LANS:
Impact: EES
Time: Sat 5/12/2001 at 1:00:00 PM CT thru Sat 5/12/2001 at 5:00:00 PM CT
Sat 5/12/2001 at 11:00:00 AM PT thru Sat 5/12/2001 at 3:00:00 PM PT
Sat 5/12/2001 at 7:00:00 PM London thru Sat 5/12/2001 at 11:00:00 PM London
Outage: Move vlans for EES in Enron Building
Environments Impacted: EES in Enron Building
Purpose: Provide more capacity to the network
Backout: paste in old configs
Contact(s): Gail Kettenbrink 713-853-4524
Michael Huang 713-345-3201
FIELD SERVICES: No Scheduled Outages.
INTERNET: No Scheduled Outages.
MESSAGING: No Scheduled Outages.
MARKET DATA: No Scheduled Outages.
NT: No Scheduled Outages.
OS/2: No Scheduled Outages.
OTHER SYSTEMS:
Impact: Corp, OTS, ETS
DATE: MAY 15, 2001/2/2001 at 5:30:00 PM
Outage: Migrate DSS Server to GTHOU-APPSQ03P
Environments Impacted: DSS users will not be able to access the old server
(ENEDS01_ADAPT)after this date
Purpose: The existing server is outdated, migrating to SQL 2000 provides
increased
functionality and conforms to database platform requirements.
Backout:
Contact(s): Mary Vollmer 713-853-3381
Joe Hellsten 713-853-7346 713-545-4164
Impact: CORP
Time: Fri 5/11/2001 at 8:00:00 PM CT thru Sat 5/12/2001 at 10:00:00 PM CT
Fri 5/11/2001 at 6:00:00 PM PT thru Sat 5/12/2001 at 8:00:00 PM PT
Sat 5/12/2001 at 2:00:00 AM London thru Sun 5/13/2001 at 4:00:00 AM London
Outage: CPU replacement on server sennacca.
Environments Impacted: RMS
Purpose: Replace faulty CPU that is offline.
Backout: Restore server to old configuration.
Contact(s): Malcolm Wells 713-345-3716
Impact: CORP
Time: Fri 5/11/2001 at 5:00:00 PM CT thru Fri 5/11/2001 at 5:15:00 PM CT
Fri 5/11/2001 at 3:00:00 PM PT thru Fri 5/11/2001 at 3:15:00 PM PT
Fri 5/11/2001 at 11:00:00 PM London thru Fri 5/11/2001 at 11:15:00 PM
London
Outage: Decommission of the following servers: intra, intra-dev, conman1,
aserv1, ardent, dbadmin
Environments Impacted: Corp
Purpose: Server no longer used. The servers will be decommissioned or
redeployed where necessary.
Backout:
Contact(s): Malcolm Wells 713-345-3716
Impact: CORP
Time: Sat 5/12/2001 at 2:00:00 AM CT thru Sun 5/13/2001 at 5:00:00 PM CT
Sat 5/12/2001 at 12:00:00 AM PT thru Sun 5/13/2001 at 3:00:00 PM PT
Sat 5/12/2001 at 8:00:00 AM London thru Sun 5/13/2001 at 11:00:00 PM London
Outage: Resource and OS upgrade to server fracture.
Environments Impacted: Global company RMS ECM
Purpose: An OS upgrade is needed to provide the disk upgrade solution.
Additionanl memory is needed as well.
Backout: Attach the old disk solution and reboot to old configuration.
Contact(s): Malcolm Wells 713-345-3716
Impact: ENA
Time: Sat 5/12/2001 at 10:00:00 PM CT thru Sat 5/12/2001 at 10:15:00 PM CT
Sat 5/12/2001 at 8:00:00 PM PT thru Sat 5/12/2001 at 8:15:00 PM PT
Sun 5/13/2001 at 4:00:00 AM London thru Sun 5/13/2001 at 4:15:00 AM London
Outage: Bounce PWRPROD1 database
Environments Impacted: Enpower User
Purpose: Change some configuration to improve database performance
Backout: Use the old parameter file.
Contact(s): Tantra Invedy 713 853 4304
SITARA: No Scheduled Outages.
SUN/OSS SYSTEM: No Scheduled Outages.
TELEPHONY:
Impact:
Time: Sat 5/12/2001 at 10:00:00 PM CT thru Sun 5/13/2001 at 1:00:00 AM CT
Sat 5/12/2001 at 8:00:00 PM PT thru Sat 5/12/2001 at 11:00:00 PM PT
Sun 5/13/2001 at 4:00:00 AM London thru Sun 5/13/2001 at 7:00:00 AM London
Outage: Quarterly Maintenance - Telephone System
Environments Impacted: All
Purpose: Quarterly maintenance. While voicemail nodes are being serviced (one
box at a time), a slight disruption will be experienced.
Messages will continue to be stored but will not be delivered until each node
of voicemail is back up and operational.
CMS call center management reporting will not be availalble during this
time.
Backout:
Contact(s): Cynthia Siniard 713-853-0558
TERMINAL SERVER: No Scheduled Outages.
UNIFY:
Impact: CORP
Time: Fri 5/11/2001 at 6:00:00 PM CT thru Fri 5/11/2001 at 7:00:00 PM CT
Fri 5/11/2001 at 4:00:00 PM PT thru Fri 5/11/2001 at 5:00:00 PM PT
Sat 5/12/2001 at 12:00:00 AM London thru Sat 5/12/2001 at 1:00:00 AM London
Outage: Memory replacement for server electron.
Environments Impacted: Unify Users
Purpose: Replace faulty memory module.
Backout: Get new memory if necessary
Restart server with out memory as last resort
Contact(s): Malcolm Wells 713-345-3716
------------------------------------------------------------------------------
-----------------------------------------------
FOR ASSISTANCE
(713) 853-1411 Enron Resolution Center
Specific Help:
Information Risk Management (713) 853-5536
SAP/ISC
(713) 345-4727
Unify On-Call (713) 284-3757 [Pager]
Sitara On-Call (713) 288-0101 [Pager]
RUS/GOPS/GeoTools/APRS (713) 639-9726 [Pager]
OSS/UA4/TARP (713) 285-3165 [Pager]
CPR (713) 284-4175 [Pager]
EDI Support (713) 327-3893 [Pager]
EES Help Desk (713)853-9797 OR (888)853-9797 |
Please confirm absolutely that fax signatures will be sufficient.
I need the address of where to send the membership certificate. There is not
enough time for the document to pass back through Houston if the Portland
team wants to sign the documents.
Kay
"Campbell, Carolyn" <[email protected]> on 04/30/2001 11:21:59 AM
To: "'[email protected]'" <[email protected]>
cc:
Subject: RE: Delta Documents
Kay:
The original membership certificate needs to be in the lender's hands (i.e.,
Isabel Parker's office) on Wednesday in order to release escrow. If you
have the original to me by Tuesday, I can forward it to Isabel by overnight
delivery for Wednesday. It must be an original, in that the lender's lien
on the membership interest is not perfected without possession of the
original certificate. With respect to the remaining documents, fax copies
of signature pages on the closing date should be sufficient.
Carolyn M. Campbell
King;& Spalding
713-276-7307 (phone)
713-751-3280 (fax)
[email protected] <mailto:[email protected]>
;
-----Original Message-----
From: [email protected] [mailto:[email protected]]
Sent: Monday, April 30, 2001 11:20 AM
To: Campbell, Carolyn
Subject: RE: Delta Documents
The problem is in getting the original in their hands (where?) by tomorrow.
Does it have to be an original?
Kay
"Campbell, Carolyn" <[email protected]> on 04/30/2001 11:04:21 AM
To: "'[email protected]'" <[email protected]>
cc:
Subject: RE: Delta Documents
Kay:
Can we at least get the membership certificates signed by Tuesday? This
seems to be the only document required in advance of closing. If we can't
get the 80% membership interest certificate in the lender's possession on
the closing date, then there is a lien perfection issue for them to deal
with, and I thought we could accommodate their request and avoid the
problem
altogether. Please advise, as Greg and Isabel will be calling within an
hour or so to finalize the mechanics on this. Thanks.
Carolyn M. Campbell
King;& Spalding
713-276-7307 (phone)
713-751-3280 (fax)
[email protected] <mailto:[email protected]>
-----Original Message-----
From: [email protected] [mailto:[email protected]]
Sent: Monday, April 30, 2001 10:40 AM
To: Campbell, Carolyn
Subject: Re: Delta Documents
I've asked GE for the LOC by Wednesday, but I haven't gotten a response.
I'll have difficulty getting executed docs by Tuesday, since sigs are
coming from Portland. I'll have to check to see what can be done.
Kay
"Campbell, Carolyn" <[email protected]> on 04/30/2001 10:02:44 AM
To: "'[email protected]'" <[email protected]>
cc:
Subject: Delta Documents
Kay:
Can you get executed documents back to me on Tuesday? Greg has requested
that we send the original membership certificate representing the 80%
interest to the collateral agent Tuesday night by overnight delivery to
hold
in escrow until closing, in order that the collateral agent is in
possession
of the certificate (for purposes of legal opinions) upon closing on
Wednesday. Greg is planning to fax signature pages of all of their closing
documents later today. (I will be out of the office at a meeting with
another client most of the afternoon today).
There is one last question with GE dealing with the letter of credit for
the
retention amount, as this affects our disbursement instruction letter. I
advised Greg that GE's normal practice was to send the retention L/C after
receipt of payment. He is considering this, but may want to talk to GE
about the ability to present the L/C at closing. Do you have any thoughts
on this?
Carolyn M. Campbell
King & Spalding
713-276-7307 (phone)
713-751-3280 (fax)
[email protected] <mailto:[email protected]>
Confidentiality Notice
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Confidentiality Notice
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exclusively for the individual or entity to which it is addressed. This
communication may contain information that is proprietary, privileged or
confidential or otherwise legally exempt from disclosure. If you are not the
named addressee, you are not authorized to read, print, retain, copy or
disseminate this message or any part of it. If you have received this
message in error, please notify the sender immediately by e-mail and delete
all copies of the message. |
-----Original Message-----
From: Nicolay, Christi L.
Sent: Monday, October 22, 2001 11:59 AM
To: Kitchen, Louise; Dietrich, Janet; Delainey, David; SMITH, Douglas; Lavorato, John; Black, Don; Forster, David; Duran, W. David; Belden, Tim; Calger, Christopher F.; Foster, Chris H.; Black, Tamara Jae; Aucoin, Berney C. ; Furrow, Dale; Meyn, Jim; Harvey, Claudette; Presto, Kevin M.; Jacoby, Ben
Subject: FW: RTO week--State Commissioners
FYI.
TJ and Claudette -- please send to your groups.
Thanks
-----Original Message-----
From: Landwehr, Susan M.
Sent: Thursday, October 18, 2001 6:19 PM
Thursday Morning session----Meeting with State Commissioners
This session was generally known to be the occasion for state commissioners to vent their frustrations at FERC taking action without including them in the decision making process. Although the panel notice showed that 5 state commissioners would attend, upon arriving in the hearing room we found that 27 state commissioners were there and ready to claim their 15 minutes of fame. It was a long morning! I will include comments or highlights from some of the commissioners below as well as some general thoughts.
Approximately 35 to 40% of the commenters were supportive of FERC and urged them to keep moving forward with their efforts. Most of these comments came from the Midwest and were somewhat muted or rational in their support. Everyone else was fairly verbal against FERC, primarily citing that fact that they had been left out of the process, that FERC was moving too quickly, and there was no evidence that there was a benefit to their citizens. In particular, the commissioners from Maryland and North Carolina delivered highly charged rhetoric. While many would think that the session was extremely negative (our friend Sarah Novosel thought it was disgusting!) in my mind it was similiar to a legislative hearing--allowing alot of whining and then addressing the main themes of discontent such as performing a cost benefit analysis.
Here's some individual comments:
Catherine Riley/Maryland---she started out talking about the fact that she had taken a solemn oath to uphold the constitution when she joined the MAryland commission and immediately implied that FERC was not as diligent or honest as she was in upholding the values of protecting citizens (she was way overboard in the dramatics department). She then stated that she was not at the meeting to "help you (FERC) backfill your woefully inadequate evidentiary record". It went on like this for about 15 minutes. The good part is that she was so personally negative, that her comments will not only be discounted but may be used against her.
Sam Ervin/NOrth Carolina---he was also very negative and he does not believe that there are any benefits to his citizens, that customer choice is never coming to his state, so he will never benefit from an RTO, that his current statutes do not allow any transfer of transmission to an RTO (and I bet if they do, he'll work to change the statutes!) and that the bulk of state commissions are not supportive of FERC. His comments were also pretty brutal, but sugar coated just a bit with southern humor.
Arnetta McRae/Delware---she kept on saying "show me" where the benefits for consumers are. She also repeatedly talked about how short of a time frame they had to respond to the order.
Rory McMinn/New Mexico---repeatedly talked about how the west was different, how he is not convinced that there is a benefit to his consumers, how the FERC commissioners needed to come out west to see how different they were.
Carl Wood/California--tried to portray himself and California as representing the west as a whole, and even brought along a statement from the Washington commission echoeing his comments. He delivered the same messages that we've been hearing forever---FERC should have acted sooner on price caps, etc etc.
Glen Thomas/Pennsylvania---he was the first positive commenter and talked about how his state has taken great strides to bring it's energy system into the new century...that by opening it's markets they have had an explosion in green power, they have reduced costs all across the state, etc. He was very supportive of PJM (makes sense because it's in his back yard) and stated that for any RTO to be effective it must have independent governance.
Judy Jones/Ohio---was very parochial in her discussion, but echoed Don Svanda's comments from earlier in the week that one RTO for the midwest was necessary and encouraged the FERC to make a decision and get on with it so that regulatory uncertainty would be removed.
Ed GArvey/Minnesota---he got the gold star for the day. After very very lengthly comments from about 15 commissioners, he took about 1 minute and said "FERC--just get it done"....in essence telling them to go ahead with what they are doing and move forward.
Other Commissioners who talked were: Arthur/Connecticut, Hadley/Indiana, Huelsman/Kentucky, Nugent/ Maine all on the positive side. Other negative commentors were two guys from DC and Jim Irvin from Arizona who had a rambling conversation that never really pinpointed what he wanted to do.
From the FERC commissioner standpoint, the gold star went to Massey. After hearing over and over again about how the commisioners didn't feel that they had been included and that FERC had not consulted them enough, he stated that he was going to express his frustration right back, saying the "there has been 7 years of process, and he wants a process that comes to an end....you've been talking for 7 years and never could agree..."
Call me if I can provide any further insights into the individual comments or the tenor of the meeting. Sue. #612-339-4599 |
west volumes and eol trades look hopeful. we are still kicking ice's butt.
-----Original Message-----
From: Alport, Kysa
Sent: Wednesday, November 14, 2001 4:36 PM
To: Alonso, Tom; Badeer, Robert; Belden, Tim; Crandall, Sean; Driscoll, Michael M.; Fischer, Mark; Mallory, Chris; Morris, Jeremy; Motley, Matt; Platter, Phillip; Purcell, Mike; Richter, Jeff; Salisbury, Holden; Scholtes, Diana; Swerzbin, Mike; Williams III, Bill
Subject: November Data for 11/14/01
Total Trades for Day 572
EOL Trades for Day 404
ICE Trades 3
EPMI ICE Trades 41
EOL Deals From: 11/01/2001 To: 11/14/2001 EnPower From: 11/01/2001 To: 11/14/2001
Desk Total Deals Total MWH Desk Total Deals Total MWH
EPMI Long Term California 390 6,063,856 EPMI Long Term California 38 1,276,554
EPMI Long Term Northwest 209 3,011,800 EPMI Long Term Northwest 83 2,804,626
EPMI Long Term Southwest 289 6,673,591 EPMI Long Term Southwest 209 8,144,373
EPMI Short Term California 1,143 1,478,048 EPMI Short Term California 428 1,094,049
EPMI Short Term Northwest 682 865,800 EPMI Short Term Northwest 281 528,489
EPMI Short Term Southwest 881 1,271,152 EPMI Short Term Southwest 447 1,818,063
Real Time 816 20,700 Real Time 294 27,222
Grand Total 4,410 19,384,947 Grand Total 1,780 15,693,376
EOL Deals From: 11/14/2001 To: 11/14/2001 EnPower From: 11/14/2001 To: 11/14/2001
Desk Total Deals Total MWH Desk Total Deals Total MWH
EPMI Long Term California 17 276,000 EPMI Long Term California 2 20,000
EPMI Long Term Northwest 32 555,600 EPMI Long Term Northwest 7 251,233
EPMI Long Term Southwest 53 1,095,125 EPMI Long Term Southwest 8 366,245
EPMI Short Term California 107 216,008 EPMI Short Term California 53 158,968
EPMI Short Term Northwest 80 89,160 EPMI Short Term Northwest 32 33,276
EPMI Short Term Southwest 68 77,200 EPMI Short Term Southwest 43 143,601
Real Time 47 1,175 Real Time 23 1,196
Grand Total 404 2,310,268 Grand Total 168 974,519
EOL Deals From: 11/14/2001 To: 11/14/2001 EOL Deals From: 11/14/2001 To: 11/14/2001
Long Term West Management Total Deals Total MWH Short Term West BOM Total Deals Total MWH
Daily 0 0 Daily 0 0
Month-to-Date EOL 9 2,200 Month-to-Date EOL 0 0
Enpower daily deals 0 0 Enpower daily deals 0 0
Month-to-Date Enpower 2 2,003 Enpower daily deals 0 0
EOL Deals From: 11/14/2001 To: 11/14/2001
EPMI California Services Total Deals Total MWH
Daily 0 0
Month-to-Date 0 0
Enpower daily deals 0 0
ICE Volumes From: 11/14/2001 To: 11/14/2001
Delivery Point Total MWH EPMI MWH Price
Cob (P, Next Day) 400 0 $ 22.75
Mid C (P, Next Day) 2,000 400 $ 19.15
Mid C (OP, Next Day) 1,000 0 $ 16.72
Mid C (P, Bal Month) 14,400 0 $ 21.43
Mid C (P, Dec-01) 90,000 0 $ 32.54
Mid C (P, Jan-02) 20,800 0 $ 33.00
NP-15 (HE 1700) 25 0 $ 27.50
NP-15 (HE 1900) 50 0 $ 28.50
NP-15 (HE 2100) 50 0 $ 25.50
NP-15 (HE 2200) 50 0 $ 25.50
NP-15 (P, Next Day) 4,800 800 $ 24.30
NP-15 (OP, Next Day) 2,600 400 $ 17.18
NP-15 (P, Bal Month) 9,600 0 $ 25.75
NP-15 (P, Dec-01) 60,000 0 $ 32.67
NP-15 (P, Jan-02) 10,400 0 $ 33.70
Palo (HE 1700) 25 0 $ 21.00
Palo (OP, Next Day) 1,400 0 $ 12.50
Palo (P, Next Day) 10,000 0 $ 18.71
Palo (P, Bal Month) 72,000 0 $ 22.62
Palo (OP, Dec-01) 25,800 0 $ 19.33
Palo (P, Dec-01) 70,000 0 $ 27.20
Palo (P, Jan-02) 62,400 0 $ 29.41
Palo (P, Mar-02) 10,400 0 $ 29.25
Palo (P, Jun-02) 10,000 0 $ 41.25
Palo (P, Jul-02) 10,400 0 $ 54.50
Palo (P, Aug-02) 32,400 0 $ 61.00
Palo (P, Sep-02) 28,800 0 $ 47.67
Palo (P, Apr-02) 10,400 0 $ 30.00
Palo (P, Q1 02) 30,400 0 $ 29.25
Palo (P, Q2 02) 61,600 0 $ 35.00
Palo (P, Q3 02) 30,800 0 $ 55.00
SP-15 (HE 1100) 25 0 $ 26.50
SP-15 (HE 1700) 25 0 $ 26.75
SP-15 (HE 1900) 50 0 $ 28.50
SP-15 (P, Next Day) 6,000 0 $ 24.07
SP-15 (OP, Next Day) 1,200 0 $ 16.50
SP-15 (P, Bal Month) 19,200 0 $ 24.90
SP-15 (OP, Dec-01) 17,200 0 $ 22.25
SP-15 (P, Dec-01) 40,000 0 $ 30.13
SP-15 (P, Q1 02) 91,200 0 $ 32.17
SP-15 (P, Cal 03) 122,800 0 $ 44.50
Grand Total 980,700 1,600 $ 1,196.15 |
Some good news on Enron!
Dave
-----Original Message-----
From: Reed, Andrea V.
Sent: Wednesday, October 31, 2001 10:33 AM
To: Allan, David; Determeyer, Peggy; Hutchinson, Elizabeth; Singh, Vikram; Perez, Eugenio; Maxwell, David; Forster, Avril
Subject: FW: JP Morgan Conference Call on Enron
Some positive and accurate news?for a change!!!!
avr
-----Original Message-----
From: Helfrich, Christopher A.
Sent: Wednesday, October 31, 2001 10:29 AM
To: Malcolm, Rodney; Reed, Andrea V.
Subject: FW: JP Morgan Conference Call on Enron
-----Original Message-----
From: Seyfried, Bryan
Sent: Wednesday, October 31, 2001 1:52 AM
To: DL-Lon Enron Credit London; DL-Enron Credit Houston; Blesie, Brad; Zipter, Rudi
Subject: FW: JP Morgan Conference Call on Enron
-----Original Message-----
From: Seyfried, Bryan
Sent: 31 October 2001 07:28
To: Sherriff, John; Brown, Michael - COO London; Edgley, Anne; Murphy, Ted; Gold, Joe; Lewis, Richard; Scrimshaw, Matthew; Dyson, Fernley; Lien, Thor
Cc: Valnek, Tomas
Subject: FW: JP Morgan Conference Call on Enron
below is a summary, prepared by Tomas Valnek, of the JP Morgan conference call to fixed income and equity investors. The consensus view of our team is the call was very positive and should provide a platform for stability absent new, negative surprises.
-----Original Message-----
From: Valnek, Tomas
Sent: 30 October 2001 22:44
To: Seyfried, Bryan
Subject: JP Morgan Conference Call on Enron
JPM Morgan (JPM) held a conference call on 30 October on the recent events surrounding Enron. Below, the main points are summarised.
The overall tone was positive for three reasons: The two analysts (one equity and fixed income) made a very good effort to clarify the current situation; They gave a positive view on Enron in general; And, they capped the value of the potential off-balance sheet liabilities.
In their view, there are no issues with the core business.
The fundamental issue is short-term liquidity. To alleviate this issue, they would like to see extra credit lines of about USD 1.5-2bn, and the extension of a revolver maturing in May 2002;
They think that the liability from Osprey and Marlin is likely to be in the region of USD 400-500m. This assumes that there are no other contingent liabilities form other off-balance sheet commitments;
To resolve the situation surrounding this issue and to potentially avoid a downgrade, Enron must primarily restore confidence and improve disclosure of information surrounding the off-balance sheet liabilities.
One of the first things pointed out by the equity analyst was that he considered little permanent damage on the equity side, and importantly that there were no major with Enron's core business. But in their view, the fundamental issue was related to credit markets, short term liquidity in particular. To alleviate this issue, the analyst would like to see the following:
That Enron secures an extra USD 1-2bn in credit lines, preferably USD 1.5-2bn;
That the maturity of the USD 2.25bn revolver maturing in May 2002 is extended.
From the commodity side, they were confident that there no immediate liquidity issues. They had been in touch with trading counterparties like Dynegy, El Paso, Williams... and had not sensed that any of them would radically reduce their trading with Enron. (However, they noted that a weakening in trading activities could mean smaller market shares, which could negatively affect earnings.)
On the debt side, one overall concern was the actual amount of debt, which they estimated to about USD 17.5bn, and related potential debt servicing problems. This includes debt actually held by Enron (about USD 12bn), debt attributable to Enron through unconsolidated equity affiliates, and the Marlin, Osprey and Yosemite debt.
Much focus was on the Marlin and Osprey potential equity liabilities, as the analysts had no information indicating that any liability could arise from the equity affiliates or Yosemite. From Marlin and Osprey, Enron's worst case liability would be about USD 3.4bn (implying zero asset value), but they estimated that a likely outcome would be a liability of about USD 400-500m. (This liability only concerns Marlin and Osprey, and thus assumes that there no liabilities related to the equity affiliates and Yosemite.) It was noted that this liability did not necessarily have to be settled through a share issue, but could be settled through cash raised in asset sales.
The issue of getting downgraded below investment grade was discussed. The analysts did not seem to think that this was a likely outcome, but that a downgrade to BBB-/Baa3 was a possibility. They considered that if Enron wants to avoid a downgrade, the following measures should be implemented:
Restore confidence in Enron. In particular, improve disclosure, give a better background to the LJM partnership and specify the nature and the value of the assets held in the trusts;
Develop a cash flow plan to show how assets are to be monetised to pay down debt;
Streamline operations;
Provide information about the USD 600m broadband investments.
Finally, mark-to-market accounting was discussed as well. The analysts had no issue with that noting that for Enron's type of business this was an appropriate way to account for revenues. They considered the average daily VaR number of USD 60m to be low, thus not showing any evidence of aggressive accounting. Also, the retention of key staff would become very important in the future.
Regards
Tomas |
Thanks for the note. Good work. If I am in Mumbai for a full day on Friday,
4 August, is that sufficient? thanks mcs
Jane Wilson@ENRON_DEVELOPMENT
26/07/2000 18:40
To: Mark Schroeder@ECT, Wade Cline/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc:
Subject: Comments to MoP
Worked the Ministry of Power yesterday with Sanjay and had my own meeting
with the Junior Secretary who is in charge of the Electricity Bill effort.
He invited me back. Found out from him that there are TWO drafts of the
Electricity Bill -- the Ministry of Power began drafting its own draft around
draft IV of the circulated draft and has picked and chosen from the
circulated draft (that's interesting!) The MoP draft is with the Cabinet
soon to be introduced to Parliament. The real law that is introduced to the
Parliament will be released to the public once it leaves to Cabinet for the
Parliament. We will have a chance to lobby and explain to the Standing
Committee out positions, i.e., the whole input process starts all over
again. Meanwhile, the three individuals with whom we met yesterday (various
secretaries) requested our direct input again (there is obviously still time
for the Ministry to revise its draft). Thus, I've tried to rearticulate the
critical elements that must be in the bill to constitute legitimate reform
and point out how crazy the World Bank's emphasis on forming regulators and
accounting unbundling is if unrelated to full reform in the note attached
below.
Actually made most of Amcham's presentation to the DOE mission in India. The
presentation that was handed out to them is attached below. Once you've
opened the presentation, go to slide show, custom, and see the slides from
which I spoke (I took the substantive ones). The important slide in both the
custom show and the handout is the last one which is DOE Action items. They
told us that this was exactly the kind of briefing they needed. Sanjay's
happy, I'm happy, hope you're happy.
Please note that there are EOG slides included with regulatory concerns of
the upstream E&P sector. Of note is that I worked with Larry Morse of EOG
and accompanied him to the Ministry of Petroleum and Natural Gas (MoP&NG) on
Saturday to directly give input into the Ministry Working Group on forming a
regulator in the O&G sector. Our scheduled 15 minutes (they were moving
private parties through a New York musical tryout) turned into 30 minutes and
a request for a written document. I came up with a new idea of EOG to make
their life easier and the Ministry was interested: the Director General of
Hydrocarbons is the "regulatory agency" that is interfering in more than
regulating the Production Sharing Contracts (PSCs). I suggested to Larry
(who loved it) and the Ministry that the current functions of DGH be divided
into three separate things: the normal regulatory function (permitting,
environmental, safety and information management) that should devolve on DGH,
a facilitator role assigned to the MoP&NG (provided in the law or regs
somewhere -- this is essentially a government person to help private parties
knock down barriers), and a Contract Adminsitrator, meaning a representative
of the Government of India to sit on the joint venture's Management
Committee. I suggested perhaps a retired ONGC executive. This may
ameliorate the DGH's tendency to build a file and obstruct any spending
whatsoever in the misguided belief that profits will be greater for GOI in
the future. I'd like to take this opportunity to record all our joint MoP&NG
issues both upstream and LNG into one document. Then it can become our joint
platform paper to lobby from, do presentations from, etc. Need to rest a
day, however before that effort starts.
Cheers. Hope to return to Mumbai tonight. I've overstayed in Delhi by two
days. Sanjay mentioned that he now thinks that I will spend 50% of my time
here.
---------------------- Forwarded by Jane Wilson/ENRON_DEVELOPMENT on
07/26/2000 12:20 PM ---------------------------
Jane Wilson
07/26/2000 12:16 PM
To: K Seethayya/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Ashok
Mehta/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc: Sanjay Bhatnagar/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Wade
Cline/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Neil
McGregor/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Akshay
Singh/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Amr
Ibrahim/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Sisir K
Podder/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Sandeep
Katwala/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Paul
Kraske/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Bobby
Farris/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Jimmy
Mogal/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Mohan
Gurunath/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Sandeep
Kohli/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Beena
Pradhan/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
Subject: Comments to MoP
Attached are the comments requested by several people during our visits to
the Ministry yesterday. I have removed any discussion of PTC or Powergrid at
this time. However, we need to look for opportunities to make our point that
a government marketing company is a contradiction in terms, particularly
about PTC, at the appropriate time. Please hand deliver a copy of our
comments to S L Rao. Perhaps Beena could have a courtesy copy delivered to
Mr. Subramanyam. I assume that you will put an appropriate transmittal
letter on top of the comments for delivery to the Ministry today. Thanks. |
Here's a first-crack at a letter for the CEOs to sign. I couldn't open
Microsoft Word, so I apologize it's in the body of this email. Once we
circulate a draft and get a version people are comfortable with, I'd
recommend the following actions (but not by Enron):
* send the letter to the governor and all members of the Legislature
* run the letter as a full-page ad in key newspapers
* advance the story to the media for earned coverage (possible editorial
boards w/ several CEOs -- not Enron) We could have an effort in both
Northern and Southern California -- w/ different CEOs to emphasize the
bipartisanship and diversity of support for the solution. This media effort
should target broadcast, as well.
Edit away!
******************************************************************************
***************************************************
An open letter to Governor Davis and members of the Legislature:
California's energy crisis has persisted and worsened over the past 12
months. We have already experienced blackouts, and with summer fast
approaching, unless something is done immediately, the worst is yet to come.
The North American Electric Reliability Council released a report last week
that said California is expected to experience more than 260 hours of
blackouts this summer -- that's ten days without power. California's economy
cannot afford to grind to a halt because we have no power.
Two of the state's largest companies have been thrown into financial
turmoil. Pacific Gas & Electric has already declared bankruptcy, and
Southern California Edison is on the brink. With California spending more
than $____ a day on power and depleting cash reserves, the State's credit
rating has been downgraded -- only Louisiana has a lower rating.
While there has been much talk of potential solutions, none have advanced.
There is too much at risk to delay another day. Therefore, we, the
undersigned, are proposing a comprehensive five-step solution to solve
California's short- and long-term energy crisis that includes the following:
1. Decrease demand -- There is no time to build power plants or get
additional generation on-line in time for this summer. Therefore, the only
option to reduce the impact of an electricity shortage this summer is to
reduce consumption. This can be accomplished in several ways:
Real-time pricing -- prices should reflect the cost of producing
electricity, which varies throughout the day. When demand is at a peak,
prices are high; when demand drops, so do prices. This will give customers
a financial incentive to conserve and take simple actions, like turning the
thermostat up two degrees.
Demand buy-down programs -- If a customer is willing to pay for kilowatts
used, he/she ought to be compensated for kilowatts saved. NEED TO SAY WHO
WILL PAY FOR THIS
2. Increase supply -- The Governor has taken an important first step by
using his executive powers to streamline power plant siting. While the
state currently has approved 13 power plants totaling 8,512 megawatts, it's
not enough. California ought to be the most attractive place to build power
plants, transmission lines and pipelines; instead, it's the least. There is
a backlog of turbines for power plant development, yet of the 1,000
backlogged, only 24 are earmarked for California because the state has sent
an "anywhere but here" message to investors. The state's political leaders
must reject action that discourages investment, including:
* Legislation that would impose a "windfall profits" tax on power sold in
California and make it a felony to sell power at a price that the state
finds unreasonable.
* Continued calls for price caps in wholesale power market -- caps only
create shortages and fail to reduce prices.
* Investigations into allegations that suppliers manipulated power prices.
3. Make the utilities creditworthy -- Under California law, utilities are
forced to charge frozen rates, but they must buy power at higher wholesale
prices. The utilities' inability to recover their costs has forced PG&E
into bankruptcy and threatens Southern California Edison's solvency. The
solution to restoring the utilities' creditworthiness is to set rates that
cover the utilities' past debts and future costs -- and then give customers
the power to reduce their bills by conserving or by choosing a competitive
energy supplier.
4. Get California out of the power-buying business -- Once rate increases
return the utilities to creditworthiness, the role of buying power can be
returned to the utility very quickly -- within three to six months. The
state should not buy the transmission grid to raise additional cash for the
utilities. There are other ways to raise funds: for example, a miniscule
rate increase of two-tenths of one cent per kilowatt hour could accomplish
the same thing -- and keep the power expertise in the hands of the utilities.
5. Get deregulation right in California -- California never deregulated. In
fact, today there is more regulation than ever before. For true
deregulation to exist, every consumer and business in the state must have
the right to hire and fire their energy service provider. When California
passed a law this year authorizing the state to buy power, that same law
(AB1X) called for an end to customer choice (also called "direct access.")
California must rescind AB1X and reinstate the right of customers to choose
their energy service provider. ARE WE INCLUDING CORE/NON-CORE? (i can't
remember...)
We urge the Legislature and Governor to enact legislation that includes these
five components and sets California on the path to economic stability. The
longer the delay, the bigger the problem. The time to act is now.
CEO
CEO
etc. |
------------------------------------------------------------------------------
------------------------
W E E K E N D S Y S T E M S A V A I L A B I L I T Y
F O R
March 23, 2001 5:00pm through March 26, 2001 12:00am
------------------------------------------------------------------------------
------------------------
SCHEDULED SYSTEM OUTAGES:
ARDMORE DATA CENTER - FACILITY OPERATIONS: No Scheduled Outages.
AZURIX: No Scheduled Outages.
EB34 DATA CENTER - FACILITY OPERATIONS: No Scheduled Outages.
EDI SERVER: No Scheduled Outages.
ENRON NORTH AMERICAN LANS:
Impact: CORP
Time: Fri 3/23/2001 at 5:00:00 PM CT thru Fri 3/23/2001 at 5:15:00 PM CT
Fri 3/23/2001 at 3:00:00 PM PT thru Fri 3/23/2001 at 3:15:00 PM PT
Fri 3/23/2001 at 11:00:00 PM London thru Fri 3/23/2001 at 11:15:00 PM
London
Outage: Decommission CORPHOU-02B
Environments Impacted: Corp Logins
Purpose: The SAM size on this DC has increased beyond recommended limits.
There is no real reason for us to keep this DC online anymore.
Backout: Bring back online
Contact(s): Keith Meurer 713-853-1743
Impact: ENS
Time: Sun 3/25/2001 at 3:00:00 PM CT thru Sun 3/25/2001 at 5:00:00 PM CT
Sun 3/25/2001 at 1:00:00 PM PT thru Sun 3/25/2001 at 3:00:00 PM PT
Sun 3/25/2001 at 9:00:00 PM London thru Sun 3/25/2001 at 11:00:00 PM London
Outage: Change VLANS for the EES networks at Ardmore
Environments Impacted: EES
Purpose: Part of the re-design, due to problems with the OC3's
Backout: change vlans back to the old numbers
Contact(s): Scott Shishido 713-853-3780
Impact: ENS
Time: Fri 3/23/2001 at 11:00:00 PM CT thru Sat 3/24/2001 at 12:00:00 AM CT
Fri 3/23/2001 at 9:00:00 PM PT thru Fri 3/23/2001 at 10:00:00 PM PT
Sat 3/24/2001 at 5:00:00 AM London thru Sat 3/24/2001 at 6:00:00 AM London
Outage: Add redundancy to the ETS server network
Environments Impacted: ETS
Purpose: Currently the ETS server network 172.30.10.0 has no redundant links
the the routers. If one switch goes down the entire network goes down.
Backout: none
Contact(s): Scott Shishido 713-853-3780
FIELD SERVICES: No Scheduled Outages.
INTERNET:
Impact: CORP
Time: Sat 3/24/2001 at 11:00:00 PM CT thru Sun 3/25/2001 at 12:00:00 AM CT
Sat 3/24/2001 at 9:00:00 PM PT thru Sat 3/24/2001 at 10:00:00 PM PT
Sun 3/25/2001 at 5:00:00 AM London thru Sun 3/25/2001 at 6:00:00 AM London
Outage: Replace ENRON.COM edge routers
Environments Impacted: Internet
Purpose: Replace hardware with faster processing units. IOS Software upgrade
to remove potential security vulnerability.
Backout: Put existing hardware back in production.
Contact(s): John Shupak 713-853-7943
Bryan Aubuchon 713-345-8446
MESSAGING: No Scheduled Outages.
MARKET DATA:
Impact: Market Data
Time: Fri 3/23/2001 at 6:00:00 PM CT thru Fri 3/23/2001 at 9:45:00 PM CT
Fri 3/23/2001 at 4:00:00 PM PT thru Fri 3/23/2001 at 7:45:00 PM PT
Sat 3/24/2001 at 12:00:00 AM London thru Sat 3/24/2001 at 3:45:00 AM London
Outage: CQG_DDA Upgrade
Environments Impacted: CQG Digital users
Purpose: Enable migration off of Legacy satellite systems.
Backout: N/A
Contact(s): John Sieckman 713-345-7862
NT: No Scheduled Outages.
OS/2: No Scheduled Outages.
OTHER SYSTEMS:
Impact: CORP
Time: Fri 3/23/2001 at 5:00:00 PM CT thru Fri 3/23/2001 at 6:00:00 PM CT
Fri 3/23/2001 at 3:00:00 PM PT thru Fri 3/23/2001 at 4:00:00 PM PT
Fri 3/23/2001 at 11:00:00 PM London thru Sat 3/24/2001 at 12:00:00 AM
Outage: Cleanup CDPD (Air Card) Configuration
Environments Impacted: Corp.
Purpose: Running out of available addresses for air cards. Clean up
configuration on CDPD router/ Change
the method used to translate the aircards IP addresses.
See Change Request # JW918 for IP addresses.
Backout: apply old config
Contact(s): Jon Werner 713-853-6742
Impact: CORP
Time: Fri 3/23/2001 at 5:00:00 PM CT thru Fri 3/23/2001 at 6:00:00 PM CT
Fri 3/23/2001 at 3:00:00 PM PT thru Fri 3/23/2001 at 4:00:00 PM PT
Fri 3/23/2001 at 11:00:00 PM London thru Sat 3/24/2001 at 12:00:00 AM
London
Outage: SysAdmiral Master Server Move
Environments Impacted: Corp
Purpose: This server move is to replace the failed server that occurred last
weekend. The current location for the master machine online is in 3448. Since
it is on a development segment it has to be moved back into the production
area.
We will need only one hour to move the machine since it it is replacing a
1600 with a 1600. Rails and racking can be reused without rewiring anything.
Backout: Rerack in current location.
Contact(s): Rusty Cheves 713-345-3798
Impact: CORP
Time: Fri 3/23/2001 at 5:00:00 PM CT thru Sat 3/24/2001 at 12:00:00 PM CT
Fri 3/23/2001 at 3:00:00 PM PT thru Sat 3/24/2001 at 10:00:00 AM PT
Fri 3/23/2001 at 11:00:00 PM London thru Sat 3/24/2001 at 6:00:00 PM London
Outage: OS and Disk upgrade, patch maintenance and migration to T-3 for
server titania.
Environments Impacted: Oracle development
Purpose: Need for additional storage and improved performance.
Backout: shutdown the system
reconnect the old disks
restore the old OS from tape
Contact(s): Malcolm Wells 713-345-3716
SITARA: No Scheduled Outages.
SUN/OSS SYSTEM: No Scheduled Outages.
TELEPHONY: No Scheduled Outages
TERMINAL SERVER: No Scheduled Outages.
UNIFY: No Scheduled Outages.
------------------------------------------------------------------------------
-------------------------------------------------------
FOR ASSISTANCE
(713) 853-1411 Enron Resolution Center
(713) 853-5536 Information Risk Management
Specific Help:
Unify On-Call (713) 284-3757 [Pager]
Sitara On-Call (713) 288-0101 [Pager]
RUS/GOPS/GeoTools/APRS (713) 639-9726 [Pager]
OSS/UA4/TARP (713) 285-3165 [Pager]
CPR (713) 284-4175 [Pager]
EDI Support (713) 327-3893 [Pager]
EES Help Desk (713)853-9797 OR (888)853-9797 |
Just a heads-up - a long-winded email, but please see highlighted paragraphs.
I find it hard to believe the scenario portrayed here, but stranger things
have happened - will keep you posted.
---------------------- Forwarded by Fernley Dyson/LON/ECT on 29/11/2000 08:44
---------------------------
James New
28/11/2000 13:42
To: Ted Murphy/HOU/ECT@ECT, David Port/Market Risk/Corp/Enron@ENRON
cc: Mike Jordan/LON/ECT@ECT, Coralie Evans/LON/ECT@ECT, Fernley
Dyson/LON/ECT@ECT
Subject: Status update on the issues surrounding Continental Power
volatilities and correlations
As you know for some time we have been trying to get the Continental Power
traders to increase the volatilities they use for valuing their option
portfolio and for use in calculating their VAR as it has been obvious that
the market has become more volatile but this was not being reflected in
their mark.
In looking at the impacts of this, various other issues came to light.
Firstly it raised issues over the correlation matrix used in the VAR model as
this was way out of date. We have worked with Jitendra and have now put in a
matrix that both the traders, risk and RAC are happy with. Secondly, as you
may be aware, in Portcalc swaptions currently use the volatility input on the
deal ticket and not off any volatility curve.
The current portfolio is 90% swaptions and so this represents a serious issue
for us in that it is not practical to manually change all the volatilities at
the deal ticket level every time the implied voaltilities change. We cannot
use the option functionality as this only values hourly or daily exercise
options and not fixed expiry swaptions or options. We also have not found any
way in Portcalc of valuing Asian options so we are having to 'force' in the
few we have. We have had the Houston based Portcalc IT team work on a 'new'
piece of swaption valuation code but currently it contains a number of
worrying bugs. These are primarily that the proposed code does not take the
correct underlying forward price and uses the volatility of (approximating)
the last day of the underlying rather than the implied volatility of the
underlying.
They are currently being hampered in that they do not have any IT personnel
who have sufficient option knowledge (I understand that the two most
experienced coders resigned to go to another Houston based energy company).
This is extremely worrying and I find it hard to believe that the whole of
Enron's power business is having to use the methodology of inputting the
volatility at the deal ticket level. This will almost certainly mean that
different volatilities are being used in the VAR as are being used to value
the swaption portfolio globally. As well as these issues we have concerns
over the use and accuracy of the smile adjustment in Portcalc (worryingly it
does not seem that you can 'switch' this off). Briefly it seems that Portcalc
calculates the delta used to adjust the volatility by comparing the strike
price to the forward price of the last day of the underlying rather than the
forward price of the underlying itself.
We have engaged London based IT and are looking at the code we have used in
Power 99 to se if there is a way we can get something done quickly to start
to value all option products off a curve and to be able to book Asian options.
Once we get the above resolved we still have no way or extracting the vega or
gamma risk from Portcalc in it's current state as the information is just no
there (so we are told by IT). The system 'seems' (we cannot be 100% sure
given all the other errors) to produce a vega and gamma P&L number but what
the risk is remains a mystery. Again this is very worrying in that we have
Power option traders all over the world who can't get their underlying vega
or gamma risk position from the global valuation system. We are trying to
work on something manual to draw a line in the sand but I would really like
to know how the American based traders cope as they have this problem
(knowingly or not) for years. What sign offs were gained for the
implementation of Enpower because it seems to us that using the current
system it is not possible to comply with the Global Risk policy. How do we
validate the inputs to the valuation if we do not know the risk ?
Despite the above we have now persuaded the traders to save out newer higher
volatilities a week ago and you should have seen a large move up in their
VAR. However, as it stands at the moment they are notable to save out a daily
remark as Jitendra is saying that he is not happy with their 'model' / vol
curve generator (I have today asked for a full explanation, details of any
testing etc etc and time lines so we can move to getting over this hurdle).
The swaptions have also not yet had the ticket volatility changed but the
impacts are expected to be positive as we are long volatility.
I would appreciate your comments on the above as it seems that we are pushing
the boundaries here on areas which we really expect to have already been
covered in Houston some time ago and could do with some help. We are having
to use a system which seems to us to have numerous bugs and short comings and
are having to spend an enormous amount of IT time overcoming the inadequacies
of Enpower wich I do not think most people are aware of. Consequently we have
not been able to deliver all the improvements we were required to do in
gaining the increased limits so 3 months ago but I would hope you agree that
it is not for a lack of trying.
Sorry it's so long but if there are any questions or any perceived
inaccuracies in any of the above then please let me know.
James |
sounds good just let me know
"K. Bass" <[email protected]> on 02/09/2001 12:40:21 PM
Please respond to "K. Bass" <[email protected]>
To: [email protected]
cc:
Subject: Re: Re:Mandell
I called and left a message for Huldy for a 2:30 appt. Dad and I are going
to a movie so I won't be here for a few hours. I'll call and try for a 2:00
at Mandell. O.k. with you? LU-M
----- Original Message -----
From: <[email protected]>
To: "K. Bass" <[email protected]>
Sent: Friday, February 09, 2001 10:05 AM
Subject: Re: Re:Mandell
>
> we can hold off on seeing the w alabama house. just let me know about the
> time for tomorrow
>
> e
>
>
>
>
> "K. Bass" <[email protected]> on 02/09/2001 08:34:43 AM
>
> Please respond to "K. Bass" <[email protected]>
>
> To: [email protected]
> cc:
> Subject: Re: Re:Mandell
>
>
> Good deal. I think you'll like Bob but, like Dad said, don't feel
> obligated. Don't forget to put the contracts in a folder/envelope and
> bring
> them along. How many copies did you make? I'll call the realtors and see
> about tomorrow. Did you want to see 400 W. Alabama again? It's usually
> open on Sunday. LU-M
> ----- Original Message -----
> From: <[email protected]>
> To: "K. Bass" <[email protected]>
> Sent: Friday, February 09, 2001 7:19 AM
> Subject: Re: Re:Mandell
>
>
> >
> > Hey Mom,
> > I would like to see the Mandell and the Huldy - preferably tomorrow
> before
> > 4ish. Let me know if that works for you. Dad is welcome to see
> whichever
> > houses he would like.
> >
> > FYI, I am meeting with Bob Dunn today after work, and I made copies of
> the
> > contracts.
> >
> > L,
> > E
> >
> >
> >
> >
> > "K. Bass" <[email protected]> on 02/09/2001 06:43:42 AM
> >
> > Please respond to "K. Bass" <[email protected]>
> >
> > To: [email protected]
> > cc:
> > Subject: Re: Re:Mandell
> >
> >
> > Hi Eric,
> >
> > Do you want me to check with the realtors to see if those houses are
open
> > this weekend and, if not, do you want me to make appts.? Let me know.
> > I'll
> > do that today. I would like Dad to see Mandell but that's up to you.
He
> > can't do it today, I don't think. But, if you would like to see
> something
> > today, I'll try to arrange it. I would prefer to see all of them the
> same
> > day but I will leave the up to you. I didn't want you to think that I
> have
> > forgotten about you. Did you download the contract and make copies?
> LU-M
> > ----- Original Message -----
> > From: <[email protected]>
> > To: "K. Bass" <[email protected]>
> > Sent: Wednesday, February 07, 2001 2:45 PM
> > Subject: Re: Re:Mandell
> >
> >
> > >
> > > no i haven't driven by yet. i would like to see the mandell house
> again
> > > before putting a contract in on it.
> > >
> > > -e
> > >
> > >
> > >
> > >
> > > "K. Bass" <[email protected]> on 02/07/2001 02:45:35 PM
> > >
> > > Please respond to "K. Bass" <[email protected]>
> > >
> > > To: [email protected]
> > > cc:
> > > Subject: Re: Re:Mandell
> > >
> > >
> > > Did you drive by Huldy? If so, what did you think?
> > >
> > > We can do a contract whenever you want. Did you call B. Dunn?
> > >
> > > Talk to you later. Love, Mom
> > > ----- Original Message -----
> > > From: <[email protected]>
> > > To: "K. Bass" <[email protected]>
> > > Sent: Wednesday, February 07, 2001 11:11 AM
> > > Subject: Re: Re:Mandell
> > >
> > >
> > > >
> > > > I am fine with seeing more houses before buying but was thinking
that
> > it
> > > > might be a good idea to get the ball rolling on the Mandell house
> (i.e.
> > > low
> > > > ball contract). This does not mean that I am wanting to buy right
> away,
> > > but
> > > > more of testing the market and resolve of sellers. Let me know when
> > you
> > > > are available to see more houses. I am free whenever, except for
> > > Saturday
> > > > after around 4 pm.
> > > >
> > > > L,
> > > > E
> > > >
> > > >
> > > >
> > > >
> > > >
> > > > "K. Bass" <[email protected]> on 02/07/2001 10:19:51 AM
> > > >
> > > > Please respond to "K. Bass" <[email protected]>
> > > >
> > > > To: [email protected]
> > > > cc: "Larry W. Bass" <[email protected]>
> > > > Subject: Re: Re:Mandell
> > > >
> > > >
> > > > It's been so long since we talked, I don't know what I'm supposed to
> be
> > > > doing.
> > > >
> > > > Just finished real estate school and learned a few things - well, my
> > > memory
> > > > was refreshed. Re: precertification for a loan. A non-committal
> > > response
> > > > from an online source does not mean that you are precertified. And,
> > you
> > > > must be real careful about all conditions relating to said loan.
Dad
> > > > thinks
> > > > you should call Bob Dunn (call Dad for number.). Bob is in the
> > mortgage
> > > > business and is a good guy to have on your side. His office is near
> > San
> > > > Felipe and Voss. You should probably get this ball rolling so you
> are
> > > > ready, don't you think?
> > > >
> > > > I am busy today but let me know if you want to see anything Friday.
> We
> > > > could wait until the weekend to see what's open and make appts. for
> > > > whatever
> > > > else you want to see. I recommend that you see a few more before
> > making
> > > an
> > > > offer but that is up to you.
> > > >
> > > > Let me know what I can do. LU-M
> > > > ----- Original Message -----
> > > > From: <[email protected]>
> > > > To: <[email protected]>
> > > > Sent: Wednesday, February 07, 2001 9:11 AM
> > > > Subject: Re:Mandell
> > > >
> > > >
> > > > > Any news?
> > > > >
> > > > > -e
> > > > >
> > > >
> > > >
> > > >
> > > >
> > > >
> > > >
> > > >
> > >
> > >
> > >
> > >
> > >
> > >
> > >
> >
> >
> >
> >
> >
> >
> >
>
>
>
>
>
>
> |
Wow!!!
Sounds great!!
It matches my interest exactly,
I really like it..
I'll send you an email after I talk with
my advisor tomorrow.
However I wonder
what will happen to work with DealBench team
if I join the project?
thanks for your quick response.
-----------------------------------------------------------------------
Jinbaek Kim
Ph.D Candidate
Dept. of Industrial Engineering and Operations Research
U.C.Berkeley
http://www.ieor.berkeley.edu/~jinbaek
Go Bears!
:"'._..---.._.'"; `. .' .' `.
: a a : __....._
: _.-0-._ :---'""'"-....--'" '.
: .' : `. : `,`.
`.: '--'--' :.' ; ;
: `._`-'_.' ;.'
`. '"' ;
`. ' ;
`. ` : ` ;
.`. ; ; : ;
.' `-.' ; : ;`.
__.' .' .' : ; `.
.' __.' .'`--..__ _._.' ; ;
`......' .' `'""'`.' ;......-'
`.......-' `........'
On Wed, 2 May 2001 [email protected] wrote:
>
> Jinbaek,
>
> This is a project related to automated trading platforms for commodities.
>
> Vince
>
>
>
>
>
> Jinbaek Kim <[email protected]> on 05/02/2001 05:21:40 PM
>
> To: [email protected]
> cc:
> Subject: Re: summer work..
>
>
> Dr. Kaminski,
> thanks for your mail.
>
> I am sorry that I'll not be available earlier,
> I will talk with my advisor, but
> probably it will be pretty negative.
> however, I may be able to start it from June1,
> depending on what he tells..
> We will meet tomorrow afternoon,
> so I'll be able to let you know
> whether we can start work earlier then.
>
> And could you tell me briefly
> what are those projects you have in mind?
>
> Thanks!
>
> -----------------------------------------------------------------------
> Jinbaek Kim
> Ph.D Candidate
> Dept. of Industrial Engineering and Operations Research
> U.C.Berkeley
> http://www.ieor.berkeley.edu/~jinbaek
>
> Go Bears!
>
> :"'._..---.._.'"; `. .' .' `.
> : a a : __....._
> : _.-0-._ :---'""'"-....--'" '.
> : .' : `. : `,`.
> `.: '--'--' :.' ; ;
> : `._`-'_.' ;.'
> `. '"' ;
> `. ' ;
> `. ` : ` ;
> .`. ; ; : ;
> .' `-.' ; : ;`.
> __.' .' .' : ; `.
> .' __.' .'`--..__ _._.' ; ;
> `......' .' `'""'`.' ;......-'
> `.......-' `........'
>
>
> On Wed, 2 May 2001 [email protected] wrote:
>
> >
> > Jinbaek,
> >
> > Thanks for your message.
> >
> > We have a number of additional fascinating projects that you can work
> > on. As a matter of fact, it would be great to have you here earlier.
> >
> > Vince
> >
> >
> >
> >
> >
> > "Jinbaek Kim" <[email protected]> on 05/02/2001 05:18:32 AM
> >
> > To: <[email protected]>, "Raghavan, Suresh"
> > <[email protected]>, "Mesquita, Ross"
> > <[email protected]>
> > cc: <[email protected]>
> > Subject: summer work..
> >
> >
> > Long time no see,
> > How have you been...must be busy and living a challenging life?
> > I have been pretty busy too,
> > to finish a project and write a paper, these days.
> >
> > Everything looks going OK for my summer internship.
> > I took necessary steps to work out of campus, and sent
> > signed contract to Molly a week ago..
> >
> > Here is what I am expecting to do in the summer.
> > Please let me know if you have any change in mind.
> > Actually, I wonder a little bit if DealBench changed its business
> model...
> > and maybe you got priority in something different
> > because it has been quite a while since we talked.
> > I'd like to what's going on in DealBench team...
> > Raghavan and Ross,
> > if we talk over phone it will be great!
> >
> > Dr. Kaminski,
> > If you think there is something else interesting to work with during the
> > summer,
> > to both you and I, please let me know.
> > My interest is auction, market design, and simulation.
> > I am taking a financial engineering class, (mostly on option pricing)
> > and working on electricity generator valuation problem based on
> > spark spread option.
> >
> > All of you,
> > Let's keep in touch until we meet in June!!
> >
> > Best Regards,
> > Jinbaek
> >
> >
> > Tentative Work Period: 6/4 - 8/4
> >
> > 1. Tasks:
> > 1) Survey on Auctions: the State of Art
> > Single-item auction, Multi-Unit auction, Sequential auction,
> > Multi-attribute auction, Combinatorial auction
> >
> > - Theoretical
> > - Experimental
> > - Algorithmical
> >
> > 2) Deal Bench's Auction Model Analysis
> >
> > 2. Deliverables:
> > 1) 3 Presentations:
> > - 1st presentation: around 6/30: on different auction types and
> > researches
> > - 2nd presentation: around 7/15: the State of Art in auction studies
> > - 3rd presentation: around 8/1: Deal bench's model analysis
> >
> > 2) Report:
> > Summary of auction study in laymen's term
> > Deal bench's model analysis
> >
> >
> >
> >
> >
> >
> >
>
>
>
>
>
> |
Start Date: 4/22/01; HourAhead hour: 22; HourAhead schedule download failed.
Manual intervention required.
LOG MESSAGES:
PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001042222.txt
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---------------------- Forwarded by David M Gagliardi/TTG/HouInd on
06/23/2000 09:01 AM ---------------------------
Tracy Ralston <[email protected]> on 06/22/2000 10:30:48 PM
To: [email protected]
cc:
Subject: FW: True Orange Fax/E-Mail #56
-----Original Message-----
From: [email protected] [mailto:[email protected]]
Sent: Wednesday, June 21, 2000 8:45 PM
To: [email protected]
Subject: True Orange Fax/E-Mail #56
True Orange Fax/E-Mail Service
Volume 8, Fax/E-Mail #56, Wednesday, June 21, 2000
Jerry Scarbrough's True Orange, P. O. Box 26530, Austin, Texas 78755 -
Phone
512-795-8536
Longhorns Get Pledge from Euless Trinity Defensive Back
Braden Johnson, 6-2, 200, 4.4, a defensive back from Euless Trinity who
came
to one of Texas' three-day summer camps earlier this month, committed to
the
Longhorns Wednesday.
Johnson, a hard-hitting safety who had 42 tackles last season for the 9-2
Trojans, who had one of the top defenses in the Dallas-Fort Worth area, is
moving to quarterback this season.
His father, David, told me his son decided to commit to the Longhorns
because
"the Texas coaches really impressed him with their coaching methods and
with
the classy way they operate. They were very open and very straightforward."
David Johnson said his son also attended a TCU camp this summer and went to
a
Texas A&M camp last summer. He said several schools called his son in May,
the month the NCAA allows schools to make one phone call to each recruit.
He
said calls came from coaches at Notre Dame, Oklahoma, Nebraska, Arkansas,
TCU
and others, but he said his son decided to commit to Texas and get the
recruiting process behind him so he could concentrate on his senior season.
Braden Johnson has strong athletic blood lines. David Johnson was on a
football scholarship at Oklahoma State when he suffered a career-ending
shoulder injury and David has two famous uncles for old-time football fans.
One is Bill Johnson, who had a 20-year career as a player and coach with
the
San Francisco 49ers and who also coached with Paul Brown on the Cleveland
Browns' staff. The other is Gil Johnson, the quarterback on the great SMU
teams that featured Doak Walker and Kyle Rote.
Braden Johnson is a three-sport star. He plays centerfield in baseball and
runs on the 400-meter relay in track. He also is a good student.
Johnson is the fifth high school star to commit to Texas this month. The
others are WR-DB Brian Carter of The Woodlands, and OLs Jonathan Scott of
Dallas Carter, Abe Robinson of Houston Jersey Village and Will Allen of
Houston Cypress Falls. In addition, Alfio Randall, a super OL recruit a
year
ago, is on track to graduate from Blinn JC in December and he told me he
will
enroll at Texas in January.
All five of the high school prospects who committed did so after attending
one of the Longhorns' summer camps.
Scott and Robinson are on virtually all of the national top 100 lists.
RECRUITING NOTES: The top running back and the top quarterback in Texas
both
say they would like to commit early and the Longhorns are in strong
contention for both. The RB is Cedric Benson of Midland Lee, who rushed for
3,526 yards and 51 touchdowns in leading Lee to a 16-0 season and it's
second
straight Class 5A state championships. Both those incredible totals are
Class
5A records. The QB is Matt Nordgren of Dallas Bishop Lynch, who threw for
2,500 yards as a sophomore before suffering a broken collarbone last season
that knocked him out of his teams' final five games. He still passed for
1,170 yards. . . The Longhorns already have commitments from two of the 24
members of the "Super Team" in Dave Campbell's Texas Football Magazine.
They
are Scott and Robinson. The only other member of the "Super Team" who has
committed is Madisonville RB David Underwood, the Aggies' No. 1 RB target
who
announced last week that he is going to be a Michigan Wolverine. Allen made
the second team and Carter made the third team. . . There are at least five
super players I have seen who will be big recruiting targets next year.
That's right ? they were so good as sophomores that every school in the
country already knows about them. They are QB Vincent Young, 6-5, 195, 4.5,
of Houston Madison; RB Selvin Young, 5-11, 188, 4.4, of Houston Jersey
Village; DL Marco Martin, 6-4, 290, 4.7, of Mesquite; DE Travis Leitko,
6-5,
250, 4.7, of The Woodlands, and TE-OL Eric Winston, 6-6, 265, 5.0, of
Midland
Lee. Young ran for 2,204 yards last year in a tough district. Young threw
for
1,007 yards and ran for 730 more as a sophomore, also in a tough league.
Martin is so agile that he also plays fullback and so quick that he's a
terrific pass rusher and run stopper. Leitko was a dominating force as a
sophomore last year on The Woodlands' playoff team. Winston is a great
athlete who was one of the stars on Lee's title team as a sophomore. Leitko
and Young came to Texas' summer camp earlier this month.
In the "did-you-know" department: Nebraska was 81-8 in the last seven
football seasons. That makes the Huskers 80-5 against the rest of the world
during that span, but only 1-3 against our Longhorns.
* * * *
My next fax will be whenever events warrant.
* * * *
The True Orange Fax Service includes at least 99 faxes a year and costs
$99 ($79 by E-Mail). The True Orange Newsletter includes 26 newsletters
and
is published weekly during football season and twice monthly during most of
the other months. It costs $45. Save by subscribing to both for $130 (or
$110
if you take the faxes via E-Mail or $99 if you take the faxes and
newsletter
via E-Mail). Send check to address at the top of page. I also update my
900 number ? 1-900-288-8839 ? frequently with recruiting news. My E-Mail
address is: [email protected] |
---------------------- Forwarded by Matthew Lenhart/HOU/ECT on 12/11/2000
11:12 AM ---------------------------
Ross Berthelot <[email protected]> on 12/07/2000 06:21:20 PM
Please respond to [email protected]
To: Scott Dusang <[email protected]>, Emmet Nicaud
<[email protected]>, Ben Berthelot <[email protected]>, ben
boudreaux <[email protected]>, "'Bert and Bret Turner'"
<[email protected]>, Bert Turner <[email protected]>, Bob Marz
<[email protected]>, "'Brandon Cambre'" <[email protected]>, Brett Hentze
<[email protected]>, Chad Greer <[email protected]>, Chaz Ripoll
<[email protected]>, chris bourgeois <[email protected]>, Chris Coulon
<[email protected]>, CHRIS FRERET <[email protected]>, Clay and Corinne Hufft
<[email protected]>, Clint Eilbeck <[email protected]>, Danny Boudreaux
<[email protected]>, David Nicaud <[email protected]>, David Ural
<[email protected]>, Dizneach <[email protected]>, Dog Boy <[email protected]>,
Don Edgerton <[email protected]>, Dwane Dwelle <[email protected]>,
Eric Barrileaux <[email protected]>, Gerard Herbert <[email protected]>,
House Bitch <[email protected]>, Jacques Peltier <[email protected]>, Jake
Greig <[email protected]>, JC Celestin <[email protected]>, Jeff Jenkins
<[email protected]>, Johnny Battaglia <[email protected]>,
kent walker <[email protected]>, Larry Shirey <[email protected]>, Lawrence
Centola <[email protected]>, Litton <[email protected]>, Luke
Berthelot <[email protected]>, Matt Lenhart <[email protected]>,
"[email protected]" <[email protected]>, Mike Gooch
<[email protected]>, Mike Hall <[email protected]>, Mike Thomas
<[email protected]>, Myers Namie <[email protected]>, Nick Danna <[email protected]>,
Nick Slie <[email protected]>, Patrick Strange <[email protected]>, Paul
Thibidoeaux <[email protected]>, Portealous <[email protected]>, Rhett
Staehling <[email protected]>, Richie Harpel <[email protected]>, Ryan Hemelt
<[email protected]>, Ryan Pearce <[email protected]>, Scott DeHart
<[email protected]>, Scott Naquin <[email protected]>, Shannon Strange
<[email protected]>, Shawn Darrah <[email protected]>, Tim Dietz
<[email protected]>, Tom Summers <[email protected]>, Tom Williamson
<[email protected]>, Tommy Porteous <[email protected]>, Val Generes
<[email protected]>, Will Fusaiotti <[email protected]>, Zack Smith
<[email protected]>
cc:
Subject: [Fwd: Fwd: FW: Merry Christmas Boys!]
-------- Original Message --------
Subject: Fwd: FW: Merry Christmas Boys!
Date: Thu, 7 Dec 2000 06:25:26 -0800 (PST)
From: Matthew Greene <[email protected]>
To: darren sabathier <[email protected]>,Stewart Williams
<[email protected]>,mark herbst <[email protected]>,
Donald Hunt <[email protected]>,Billy Lambertson
<[email protected]>,jonathan mattesino <[email protected]>,nick
montalbano <[email protected]>,Peter Cole
<[email protected]>, jeff corales <[email protected]>,jason dean
<[email protected]>,zack derbes <[email protected]>,Michael
Scott Greene <[email protected]>,Scott Griffith
<[email protected]>,Ross Berthelot <[email protected]>,brian
bonjour <[email protected]>,ryan buck <[email protected]>,
Jason Burch <[email protected]>,jonathan burch
<[email protected]>,jean-guy celestin <[email protected]>,Jay
Cheek <[email protected]>
Note: forwarded message attached.
__________________________________________________
Do You Yahoo!?
Yahoo! Shopping - Thousands of Stores. Millions of Products.
http://shopping.yahoo.com/
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From: "Kevin Akins" <[email protected]>
To: "Chris Leon \(E-mail\)" <[email protected]>, "Craig Nelson
\(E-mail\)" <[email protected]>, "Brian Hinkel \(E-mail\)"
<[email protected]>, "Adam Askew \(E-mail\)"
<[email protected]>, "chad Webb \(E-mail\)"
<[email protected]>, "Jack Wohrman \(E-mail\)"
<[email protected]>, "Matt Greene \(E-mail\)"
<[email protected]>, "Michael Schloegel \(E-mail\)"
<[email protected]>, "sam hix \(E-mail\)"
<[email protected]>, "Thomas Cheairs \(E-mail\)"
<[email protected]>
Subject: FW: Merry Christmas Boys!
Date: Wed, 6 Dec 2000 10:37:25 -0600
Message-ID: <002001c05fa2$d10ffb00$1801a8c0@qualls>
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If you guys keep up anything like I do you probably already have this issue
on your bathroom floor, but here is a copy for your office. Damn she looked
so much better before she sucked on the black rod.
- RoM_0012_001_Cover.jpg
- CC_Carmen_Electra_01.jpg
- CC_Carmen_Electra_02.jpg
- CC_Carmen_Electra_03.jpg
- CC_Carmen_Electra_04.jpg
- CC_Carmen_Electra_05.jpg
- CC_Carmen_Electra_06.jpg
- CC_Carmen_Electra_07.jpg
- CC_Carmen_Electra_08.jpg
- CC_Carmen_Electra_09.jpg |
Bernard,
My coordinates:
Vincent Kaminski
Managing Director - Research
Enron Corp.
1400 Smith Street
Room EB1962
Houston, TX 77002-7361
Phone: (713) 853 3848
(713) 410 5396 (cell)
Fax : (713) 646 2503
E-mail: [email protected]
Yes, we are going into a very interesting summer both here and in the UK.
Vince
"Murphy, Bernard" <[email protected]> on 03/27/2001 01:23:04 AM
To: "'[email protected]'" <[email protected]>
cc:
Subject: RE: Thesis on Electricity Price Jump-Diffusions
Hi Vince,
Can you e-mail me your mailing address in Houston and I will send you a hard
copy of the above today. Apologies for delay, but I wanted to ensure that
Les Clewlow had received his copy in Sydney before distributing any other
copies.
Incidentally, today (March 27th) is a red letter day in the UK as the NETA /
new electricity trading arrangements have gone 'live'. Should be
interesting to observe the development of the paper market in the coming
months - you're no doubt aware that IPE have just launched an electricity
futures contract.
Regards
Bernard
-----Original Message-----
From: [email protected] [mailto:[email protected]]
Sent: 01 March 2001 15:37
To: Murphy, Bernard
Cc: [email protected]; [email protected]
Subject: RE: 1997 Risk paper on Pricing of Electricity Derivatives
Bernard,
Yes, I can read a DVI file. You can also cc
my home address: [email protected]. I shall
try to send you an answer to your question on weekend.
Vince
"Murphy, Bernard" <[email protected]> on 03/01/2001 09:18:58 AM
To: "'[email protected]'" <[email protected]>
cc:
Subject: RE: 1997 Risk paper on Pricing of Electricity Derivatives
Vince,
I can send you a Scientific Word DVI file (at the weekend) if you can read
SCientific Word files ? The dissertation hasn't been reviewed by Les or
the
External yet - although its been at FORC for 2 months. I think that the
Empirical Chapter is probably the one which would be of most relevance to
both our company's businesses - although I ultimately didn't have the time
to 'explicitly' price the jump risk-premium which I conjectured is possibly
implicit in the prices of exchange-traded electricity futures-options -
rather I developed an implicit estimation procedure which will enable a
rough assessment (with a little bit of further work, but not too much) be
made of the price of jump risk in wholesale power markets.
In other words, I assumed spot jump-risk to be undiversifiable, and
essentially devoted 2 Theoretical Chapters to :
1) proving that a jump-diffusion trading model is "incomplete"
(synthesising
the securities markets framework with martingale representation theory) -
note that I did not assume that markets could be dynamically completed with
'term structure' securities as in the HJM w/ jumps papers of Shirakawa and
Das and;
2) deriving an explicit risk-adjustment process for 'implementing' the
price
of jump-risk using a jump-diffusion marginal indirect utility of wealth
process (ie. a jump-augmented production economy approach in the spirit of
CIR, Bates, Ahn & Thompson).
Incidentally, I would be keen to find out if you or any of your team done
much work on real-asset valuations in a spark-spread option-valuation
framework ? I'm about to start a project evaluation of embedded
optionality, and have a dilemna whether I should model the spot or forward
gas / power price processes. With the former, I can model mean-reversion
and jumps explicitly (obviously, important for capturing the optionality of
out-of-the-money plant, which might otherwise be ignored in a
pure-diffusion
framework) but am not maximising the informational content of the available
market data (that is, assuming there was a long-term market forward curve
for electricity); whereas in the latter the driftless forward supposition
means that I have to capture mean-reversion via the futures volatility
function, and jumps are less easy to calibrate. Any suggestions ?
Regards
Bernard
-----Original Message-----
From: [email protected] [mailto:[email protected]]
Sent: 01 March 2001 14:54
To: Murphy, Bernard
Cc: [email protected]; [email protected]
Subject: Re: 1997 Risk paper on Pricing of Electricity Derivatives
Bernard,
I am forwarding your message to my assistant and she will mail you a
reprint.
I would be glad to take a look at your dissertation. Is it available as a
publication, working paper?
Vince
"Murphy, Bernard" <[email protected]> on 03/01/2001 02:17:39 AM
To: "'[email protected]'" <[email protected]>
cc:
Subject: 1997 Risk paper on Pricing of Electricity Derivatives
Hello Vince,
My name is Bernard Murphy - I received your e-mail address from Les
Clewlow,
who was my PhD supervisor at the Financia Options Research Centre at
Warwick
Business School. I've just finished my PhD on Electricity Price Jump
Diffusions : A Theoretical and Empirical Study in Incomplete Markets -
hence my interest in electricity price modelling and derivative pricing. I
was looking to get hold of a copy of your 1997 paper, which has recently
come to my attention :
"The Challenge of Pricing & Risk-Managing Electricity Derivatives", The US
POwer Market, Risk Publications, pp. 149-171.
and Les suggested that I contact you directly (Les is travelling at present
and doesn't have an electronic copy available) to request an e-copy.
Incidentally, I am Lecturer in Finance / Financial Mathematics at
University
of Limerick (Ireland) and have taken a year out to work for Caminus UK,
where I am working on introducing and developing a markets-based approach
(spark-spread) to real asset valuations in the UK power industry.
Thanks in advancve
Bernard Murphy |
This is what I think the deal is. The boys have to take two cars cause
there will be six of us on the way back. I think Scott and Molly (the
creative, non-9-5 types) are going to drive together and try to leave before
traffic on Friday (i.e., before 2 p.m.). My guess is that then Colleen and
Jeff (the creative-but-not-giving-up-their-day-job types) are going to drive
together and leave after traffic. (i.e., after 7 p.m.). This scenario,
however, is all my own deductive reasoning and could easily be WRONG. I
expect we will know more after tonight...
-----Original Message-----
From: Colleen Silva [mailto:[email protected]]
Sent: Tuesday, June 12, 2001 1:01 PM
To: 'Scott Laughlin'; 'PP'; '[email protected]'
Subject: RE: Domaine
hey boys am i driving with you on friday and if so what time'er ya leaving?
-----Original Message-----
From: Cameron Sellers [mailto:[email protected]]
Sent: Tuesday, June 12, 2001 12:04 PM
To: 'Colleen Silva (RedSky)'; 'Molly Coffin (Hotmail)'; 'Scott
Laughlin'; 'PP'; '[email protected]'
Subject: FW: Domaine
We usually stop in Napa on the way back from the festival for an early
dinner and relaxing before heading back to the city. So, don't forget to
bring your bathing suits with you so you can swim and stuff.
See you all up there. Wish me luck flying with Prentice at the
controls!!!!!
-C
-----Original Message-----
From: Nancy Sellers [mailto:[email protected]]
Sent: Tuesday, June 12, 2001 10:14 AM
To: 'Cameron Sellers'
Subject: RE: Domaine
Good - tell them to bring their swimming suits. We'll also have volleyball,
croquet, ping pong and bocce (just kidding)
-----Original Message-----
From: Cameron Sellers [mailto:[email protected]]
Sent: Tuesday, June 12, 2001 10:06 AM
To: 'Nancy Sellers'
Subject: RE: Domaine
There will probably be 6 of us (the four + molly and colleen)
Cameron Sellers
Vice President, Business Development
PERFECT
1860 Embarcadero Road - Suite 210
Palo Alto, CA 94303
[email protected]
650.798.3366 (direct dial)
650.269.3366 (cell)
650.858.1095 (fax)
-----Original Message-----
From: Nancy Sellers [mailto:[email protected]]
Sent: Tuesday, June 12, 2001 10:02 AM
To: 'Cameron Sellers'
Subject: RE: Domaine
The one with the lavender sauce - I sure do - and I even have fresh lavender
in the garden. How many people?
-----Original Message-----
From: Cameron Sellers [mailto:[email protected]]
Sent: Tuesday, June 12, 2001 9:53 AM
To: 'Nancy Sellers'
Subject: RE: Domaine
Something with polenta. How about the pork chop we made before. Do you
still have that recipe??
Cameron Sellers
Vice President, Business Development
PERFECT
1860 Embarcadero Road - Suite 210
Palo Alto, CA 94303
[email protected]
650.798.3366 (direct dial)
650.269.3366 (cell)
650.858.1095 (fax)
-----Original Message-----
From: Nancy Sellers [mailto:[email protected]]
Sent: Tuesday, June 12, 2001 8:12 AM
To: 'Cameron Sellers'
Subject: RE: Domaine
of course you can what would you like to fix
-----Original Message-----
From: Cameron Sellers [mailto:[email protected]]
Sent: Monday, June 11, 2001 3:46 PM
To: 'Nancy Sellers'
Subject: RE: Domaine
Not sure which pictures I want - I just thought some of them were pretty
good. I'll have to figure it out.
I think you are going to see us sometime. We usually stop by Napa on our
way back from the festival this weekend. Will you be around - can we do our
Sunday dinner in Napa??
Cameron Sellers
Vice President, Business Development
PERFECT
1860 Embarcadero Road - Suite 210
Palo Alto, CA 94303
[email protected]
650.798.3366 (direct dial)
650.269.3366 (cell)
650.858.1095 (fax)
-----Original Message-----
From: Nancy Sellers [mailto:[email protected]]
Sent: Monday, June 11, 2001 2:37 PM
To: 'Cameron Sellers'
Subject: RE: Domaine
I sent some to Linda - which ones do you want? Am I ever going to see you
again?
-----Original Message-----
From: Cameron Sellers [mailto:[email protected]]
Sent: Monday, June 11, 2001 1:33 PM
To: 'Nancy Sellers'
Subject: RE: Domaine
They were great pictures!! I want some copies ok??
Cameron Sellers
Vice President, Business Development
PERFECT
1860 Embarcadero Road - Suite 210
Palo Alto, CA 94303
[email protected]
650.798.3366 (direct dial)
650.269.3366 (cell)
650.858.1095 (fax)
-----Original Message-----
From: Nancy Sellers [mailto:[email protected]]
Sent: Monday, June 11, 2001 11:17 AM
To: 'Cameron Sellers'
Subject: RE: Domaine
Did you get the pix from your birthday?
-----Original Message-----
From: Cameron Sellers [mailto:[email protected]]
Sent: Monday, June 11, 2001 11:06 AM
To: 'Nancy Sellers'
Subject: RE: Domaine
I'll get a case. Thanks!
Cameron Sellers
Vice President, Business Development
PERFECT
1860 Embarcadero Road - Suite 210
Palo Alto, CA 94303
[email protected]
650.798.3366 (direct dial)
650.269.3366 (cell)
650.858.1095 (fax)
-----Original Message-----
From: Nancy Sellers [mailto:[email protected]]
Sent: Monday, June 04, 2001 3:23 PM
To: 'DAVE BAILEY'; Marta Rich; Cindy Milani; James Cravy; Tim McDaniel;
Kevin Zeigler; Debi Best; 'Eldon Sellers'; Barrie Eddy; Carol
Frommelt;
Cindy Nagy; Karen O'Neill; Kathy Allen; Linda Rominger; Nancy
Sellers; Peggy
Hammett; Sarah deSilva; Tersilla; Cameron; Jeff Dasovich; Prentice @
Berkeley; Prentice Sellers; Scott Laughlin
Subject: Domaine
I am going to order some more Domaine on June 25. If you want any more,
please put a check in the mail to me for $64.50 a case so that I receive it
by June 25. I am only going to order whole cases this time. Depending on
the number of cases, delivery will probably be on June 28. Thanks.
Nancy
(707) 251-4870 (phone)
(707) 265-5446 (fax)
"Plus je bois, mieux je chante" |
I think you will be happy with me. I believe I was able to release the capacity for April under offer #50169.
-----Original Message-----
From: "Ivy Kao" <[email protected]>@ENRON
Sent: Friday, March 01, 2002 10:53 AM
To: Germany, Chris
Subject: Re: Capacity Release
Chris:
I'll write up an IOL trouble ticket at our end and I will have our IT guy to
call you and help you with the access.
And I have another question: who at Enron should be receiving invoices? Could
you please tell me. It used to go to Ryan Keith. Is he still there? If not,
who should the person be? Please let me know. Thanks.
Ivy
[email protected] wrote:
> I was getting an error messge until I downloaded something from the IOL
> Setup & Help tab.
> Now, I go to http://www.iroquois.com/igts/info/section-frame.html and
> select "Transportation" at the top of the screen.
> Then I select "Customer Activities" from the left side of the screen.
> And this is where I used to get an error message, now I just get a small
> symbol - looks like some sort of "flash" plug in is not loaded.
>
> -----Original Message-----
> From: "Ivy Kao" <[email protected]>@ENRON
> Sent: Friday, March 01, 2002 10:15 AM
> To: Germany, Chris
> Subject: Re: Capacity Release
>
> Good morning Chris:
>
> Please tell me your exact problem in getting into the EBB or the error
> message
> that you got or just a general description of what happened when you
> clicked on
> Customer Activities on our website.
>
> Yes, the capacity was awarded to Boston Gas. I sent an email message to
> Jeff
> LoConte and Liz Danehy about the release. Haven't heard back from them.
> I
> told them they can nom on the released quantity.
>
> Ivy
>
> [email protected] wrote:
>
> > I still am unable to get into the EBB. Did the capacity get awared to
> > Boston Gas?
> >
> > -----Original Message-----
> > From: "Ivy Kao" <[email protected]>@ENRON
> > Sent: Tuesday, February 26, 2002 1:03 PM
> > To: Germany, Chris
> > Cc: [email protected]
> > Subject: Re: Capacity Release
> >
> > Chris:
> >
> > The offer is now on our Iroquois OnLine system and has an offer
> number
> > of 50153. The only thing I've added is Liz Dennehy's email address
> > which I have as [email protected].
> >
> > Also the offer term end date is 4/1/2002 at 09:00. If I left it at
> your
> > 3/31/2002 09:00 then they wouldn't be able to nominate it on the
> very
> > last day of the month. Please let me know if that is ok. Thanks.
> >
> > Ivy
> >
> > "Germany, Chris" wrote:
> >
> > > Ivy
> > >
> > > I have been having problems trying to log into Iroquois EBB to
> release
> > capacity to Boston Gas. Please release the following capacity to
> Boston
> > Gas for March 2002, pre-arranged, subject to bid. It should be the
> same
> > as offer 50136 for February 2002.
> > >
> > > Releasing shipper contact Chris Germany
> > > Phone number 713-853-4743
> > > Fax number 713-646-3037
> > > email address [email protected]
> > > Releasing contract number: 6999
> > > Begin Term 3/1/2002
> > > End Term 3/31/2002
> > > MDQ 35,465
> > > Minimum bid volume 35,465
> > > Receipt Point Waddington
> > > Delivery Point Tenn/Wright
> > > Bid period start 2/26/02 1:00 PM
> > > Bid period end 2/26/02 2:00 PM
> > > Prearranged bid rate 100% of max rate
> > > Prearranged bidder Boston Gas
> > > Prearranged bidder contact Liz Danehy
> > > Phone number 617-723-5512
> > > Fax number 617-323-5372
> > > email address
> > >
> > > Let me know if I missed something.
> > >
> > > Thanks
> > > Chris Germany
> > >
> > >
> **********************************************************************
> > > This e-mail is the property of Enron Corp. and/or its relevant
> > affiliate and may contain confidential and privileged material for
> the
> > sole use of the intended recipient (s). Any review, use,
> distribution or
> > disclosure by others is strictly prohibited. If you are not the
> intended
> > recipient (or authorized to receive for the recipient), please
> contact
> > the sender or reply to Enron Corp. at
> > [email protected] and delete all copies of
> the
> > message. This e-mail (and any attachments hereto) are not intended
> to be
> > an offer (or an acceptance) and do not create or evidence a binding
> and
> > enforceable contract between Enron Corp. (or any of its affiliates)
> and
> > the intended recipient or any other party, and may not be relied on
> by
> > anyone as the basis of a contract by estoppel or otherwise. Thank
> you.
> > >
> **********************************************************************
> >
> > - ivy_kao.vcf << File: ivy_kao.vcf >>
>
> - ivy_kao.vcf << File: ivy_kao.vcf >>
- ivy_kao.vcf << File: ivy_kao.vcf >> |
-
California Changes Stance on Refunds
Two Sides Far Apart In Energy Talks
By Peter Behr
Washington Post Staff Writer
Friday, July 6, 2001; Page E01
California officials have abruptly shifted tactics in their attempt to
recover billions of dollars in alleged overcharges for electricity, saying
they may reduce their demands for huge refunds if generators renegotiate $43
billion in long-term electricity contracts that the state signed this year.
Gov. Gray Davis (D) said part of the $8.9 billion in refunds the state is
seeking could be offset by reductions in energy prices in the long-term
contracts, whose costs have become a growing political embarrassment for
Davis.
"We've made suggestions, we've offered various ways in which people could get
us $8.9 billion," Davis told the San Jose Mercury News in a report yesterday.
"You can renegotiate our existing contracts and save us money. However you
want to do it, it's just got to net out close to $8.9 billion."
The new offer was introduced this week into the closed negotiations over a
California settlement being conducted in Washington by Federal Energy
Regulatory Commission Judge Curtis L. Wagner Jr., according to sources close
to the negotiations.
Yesterday, Wagner said he may issue his own preliminary finding today on the
amount of overcharges if California officials and the generators cannot reach
a compromise.
"What I'm trying to do is get people in a settlement mood," Wagner told
reporters. "In the event we're unable to do that, [Friday] at some point I
may offer a preliminary assessment." The settlement conference is set to
conclude on Monday.
Wagner, FERC's chief administrative judge, has been trying to push both sides
toward a compromise that would resolve the huge energy pricing controversy.
Mountainous energy prices have bankrupted California's largest utility,
drained billions of dollars out of the state treasury and put Davis at
sword's point with generators that help keep the state's lights on.
Last Friday, Wagner rebuked Davis's chief representative, Michael Kahn,
chairman of California Independent Grid Operator -- the state's power grid
manager -- indicating that the state's demand for nearly $9 billion in
refunds from power generators and marketers was too high, sources said.
Wagner's settlement conference, which has involved more than 100 lawyers for
all sides, is closed to the public and media.
Wagner complained last month that Kahn was following a political agenda, and
his lack of independence in the negotiations was such a "joke" that the
parties might as well wear "clown suits," according to a Dow Jones report
confirmed by sources close to the talks.
But he has also criticized the generators and power marketers, led by Reliant
Energy Inc., Williams Energy Services, Duke Energy and Southern Co., for
failing to make serious settlement offers, these sources said. The suppliers
have offered to refund $600 million, provided the state is able to call off
various California lawsuits demanding far larger refunds, sources said.
Wagner's leverage is his ability to propose his own refund figure to FERC's
commissioners. FERC has tentatively called for $124 million in refunds, but
now is taking a harder line on preventing a new escalation of California's
electricity prices this summer and is likely to be receptive to a higher
refund figure, some energy analysts believe.
Davis's tactical change, offering to make the long-term contracts part of an
overall settlement, comes amid growing criticism of what the state will have
to pay for energy under those deals.
California's energy calamity stemmed in large part from its failed
deregulation plan, which relied heavily on short-term power purchases at
volatile "spot market" prices. When energy costs shot upward last summer, so
did the state's electricity bills.
In response, Davis's aide, S. David Freeman, and his staff began negotiating
long-term power contacts with suppliers. The $43 billion in deals signed so
far would require the state to pay about $70 per hour for a megawatt of power
for a large part of the electricity it will need over the next 10 years.
That's well under the average of $250 per megawatt-hour that the state was
paying at the beginning of this year, but above current power prices -- and
considerably higher than what electricity may cost in the next decade, energy
analysts say.
A new agreement to lower those contract prices could relieve political
pressure on Davis and focus settlement negotiations away from the state's
controversial demand for the $8.9 billion refund. Davis will argue that
reducing future power charges that his administration negotiated should count
as a "refund" because the deals were reached "under commercial duress,"
according to sources close to Wagner's negotiations.
Industry supporters say Davis's refund figure is impossible to justify.
"There's no benchmark for what a fair and reasonable price should be," said
Michael Zenger, California director of Cambridge Energy Research Associates.
The state's advocates counter that if FERC enforced a "just and reasonable"
standard for power prices based on operating costs and a generous profit, the
overcharges by all sellers could easily reach the $9 billion figure.
"It's not rocket science, but it does require the regulators to regulate,"
said Frank Wolak, a Stanford University economist who heads an oversight
committee for the California grid.
Those polar-opposite views have left both sides in Wagner's conference room
"billions of dollars apart," as the talks approached their final weekend,
sources said.
, 2001 The Washington Post Company |
BUSINESS HIGHLIGHTS
East Power Midwest Origination
Beginning late 2000, East Power Marketing implemented a complete market
coverage strategy. Since then, EPMI has begun to develop relationships with
hundreds of small &mom & pop8 municipalities. Many of these munis had no
prior contact with Enron. As a result, East Power has executed a valuable 30
MW energy call option term purchase from the Municipal Energy Agency of
Nebraska (MEAN) at a congested location.
Enron Industrial Markets
EIM has renamed Pulp, Paper & Lumber to Forest Products in order to fully
encompass our multiple product offerings.
East Power Development
The Planning and Zoning Commission for Pompano Beach, FL approved ENA's
rezoning request and site plan for the Pompano Beach Energy Center, a 510
megawatt peaking power plant. On the rezoning request, the vote was 6 to 1,
and on the site plan, the vote was 7 to 0. The rezoning request will be
forwarded to the Pompano Beach City Commission for their review.
Additionally, the Florida Department of Environmental Protection (DEP) has
announced its intention to issue an air permit for the facility.
Next steps include a DEP public hearing on Monday, March 26, and the first of
two votes on the rezoning request before the Pompano Beach City Commission,
which is scheduled for Tuesday, March 27.
IN THE NEWS
EWS Brown Bag Lunch
Mark Your Lunch Calendars Now! The next one is scheduled for Thursday, March
15, 2001 featuring Ray Bowen. He is the COO of EIM and will be discussing
Enron Industrial Markets.
Open Forum Editorial in The San Francisco Chronicle by Kenneth Lay 3/1/01
What has happened in California over the past four years is not
deregulation. It is misguided regulation.
Deregulation does not mean eliminating customer choice and competition for
most customers.
Deregulation does not mean limiting new market entrants. Fewer than five
percent of customers in California are served by competing suppliers.
Deregulation does not mean creating a single central power pool from which
all participants must buy and sell their wholesale power; the state Power
Exchange effectively replaced three monopoly buyers with one monopoly buyer.
Deregulation does not mean buying all of your commodity at the last minute,
on the spot market, rather than planning ahead and purchasing most of the
power under long-term contracts that lock in prices.
The situation in California is the result of continued regulation,
complicated by a series of natural and man-made factors.
WELCOME
New Hires
EGM - Lowell Bezanis, Owen Zidar
EIM - Eric Holzer, John Ovanessian
ENA - Mecole Brown, Nita Garcia, Ambroshia Hunter, Nikole Jackson, Junichi
Sugiura, Theresa Zucha, Cynthia Gonzalez, Scott Wilson, Kenton Schaefer,
Emily Butler
Transfers
ENA - Joseph Hardy, Nancy Vu, Lloyd Miller, Jinsung Myung, Patrick Johnson,
Jason Wolfe, Andrew Miles, Sara Shackleton
EIM - Sherri Baldwin, Debbie Chance, Rob Saltiel
EGM - Jody Crook, Neithard Foley, Juan Paysse, Bhavna Pandya, Courtney
Campbell, Terri Denning
NUGGETS & NOTES
"It is on the high side of medium to high." --Tim Battaglia, Vice
President/Steel Origination EIM (discussing the probability of a transaction
closing).
&I wanna see the phone glued to your ear!8 -- Ed Baughman, Vice
President/East Power Mid Market ENA
&REFERRALS, REFERRALS, REFERRALS! It pays to know good people." ) Ambroshia
Hunter Perry/HR ENA
You requested more info(. Proud parents Michelle Vitrella, PR coordinator,
and husband David Vitrella, manager of trading, have named their baby girl
Lily Ann. She was born on February 27, 2001.
Learning at the Speed of Enron
If you haven't had a chance to log on to www.investinme.enron.com, you're
missing a fast and easy way to gain the information you need to get ahead and
stay ahead. This new EWS training site combines everything you loved about
Ernie with much, much more. Enron employees now have the ability to register
for hundreds of classes on industry-related topics anywhere in the world.
Don't have time to attend a classroom training? No problem, you can now use
the web site to search for books, videos, CD ROM, and web-based training. All
the learning you want, anytime, anywhere. Just go to
www.investinme.enron.com and start building your future today!
NEWS FROM THE GLOBAL FLASH
Enron Wind
Enron Wind has purchased the factory facilities of the Dutch company, Aerpac,
Europe's second largest producer of wind turbine rotor blades. This move
represents a significant step towards fulfilling Enron Wind's strategic
objective of manufacturing high-quality and technically sophisticated rotor
blades in-house. Enron Wind will be using its own moulds to produce the
rotor blades. The acquisition of the Almelo-based factory facilities, which
are only 60 kilometres from Enron Wind's facilities in Salzbergen, Germany,
gives the company a convenient base for European wide distribution.
Enron applies for Greek electricity trading license
Enron, through its subsidiary Enron Power MEPE, has applied for an
electricity supply license for Greece, for the 34% market opening on Feb 19th
2001. If the license application is successful, Enron will be allowed to
approach customers consuming more than 100GWh up to a combined total peak
capacity of 350MW. In total, 4 companies have applied for power trading
licenses (Enel, ATEL and Cinergy also applied).
LEGAL STUFF
The information contained in this newsletter is confidential and proprietary
to Enron Corp. and its subsidiaries. It is intended for internal use only
and should not be disclosed. |
> -----Original Message-----
> From: Pal, Vivek
> Sent: Tuesday, May 08, 2001 12:10 PM
> Subject: Goldman, Sachs & Co. - Energy Monthly 5/8/01
>
>
>
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> Copyright 2001 The Goldman Sachs Group, Inc. All rights reserved.
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> that prevent us from doing so. We and our affiliates, officers,
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- Research1.PDF |
Jeff, I'm sorry my parents did that last night. I will ask them not to do
that again. And I am not upset about us not getting married or moving in
together. I would like for our relationship to evolve and grow into
something like that. All I was saying is that we have a communication
problem if you think we've talked about it and I don't think we have. If I
ever thought you wanted me to move in with you, I would have done it. That
has nothing to do with selling my house. But I'm not upset about it either.
You seem to be putting a lot of words in my mouth in this email about what I
want that I'm not telling you about and none of it is true.
But most importantly, I was NOT calling you a liar or an asshole. When I
said honest, I was talking about being straightforward and communicating in
a way that doesn't make me have to guess what you're really saying. It had
nothing to do with lying and I never accused you of lying. I hope you
understand that. And I certainly never EVER called you an asshole last
night. Jeff, I really don't think this has to be an argument. But it's
very sad to me that you don't think we care enough about each other to be
committed to this relationship. That's a pretty serious blow.
-----Original Message-----
From: [email protected] [mailto:[email protected]]
Sent: Monday, October 02, 2000 9:17 AM
To: Prentice Sellers
Subject: Re: I'm sorry
Prentice:
I'm happy to talk. However, if you're unhappy because 1) I haven't asked
you to marry me, or 2) I haven't asked you to move in together, or 3) I
haven't asked you to have children, then you need to say so. I'm very
upset to think that the only time I hear what you feel, or what your mother
believes you feel, or what your father believes you feel, is when we're
having dinner with your parents and they impose their limited view of our
relationship on the situation. I'm not interested in debating my personal
relationship with you with your parents as a substitute for our
communicating---that's not a relationship. Nor am I interested in living
my life according to what your parents or my parents or anyone else's
parents wish they'd done. If I had ever had someone call you the way
Cameron called me on Saturday night, you would have screamed at me for
days. Yet, when it's the other way, there's always a difference, always a
reason. It seems like rather than communicate we are continually engaged
in a rhetorical exercise. It 's very upsetting, and it's the sort of
one-way street that has me so deeply depressed about how we interact.
If you feel that I'm dishonest, or too dominant or not committed to the
relationship, then you need to say so---I shouldn't have to hear it in
vague terms from your parents over dinner. And if you want to move in
together, or get married, or have children, then perhaps it would be
constructive for you to say so, and offer ways in which we would make that
happen. From my perspective, all you've ever considered is 1) not selling
your house---for a variety of reasons that I don't understand or 2) buying
another place with Cameron. But I'm not dating you and your sister, I'm
dating you. So it seems to me that if you were committed to it, you would
search a solution. Instead, it seems to me, none of those things occur,
but I'm an asshole for not having moved in with you, or married you or had
children with you. That's lose-lose and everyone can call me an asshole,
but it won't change things.
It seems to me that two things have to happen for people to make a
commitment. First, they have to care for each other, and the way we
interact, it's hard to say objectively that we pass that hurdle. You have
frequently asked your parents to stop arguing, that it upsets you too much,
but that's what we spend most of our time doing. Second, each person has
to be emotionally mature enough to undertake the responsibilities that come
with the commitment. I've always wanted to be your partner, not your older
brother, and not your father. I want an equal partnership where both
individuals are pouring into the relationship, even when it's difficult,
even when it's inconvenient. If you're looking for a different dynamic in
a relationship, then we need to get it clear. I don't think we pass these
two hurdles and so I don't think we're quite ready for the commitment,
though I've been working hard at trying to get there, and think we could.
But if we're not ready, I'm not going to do it to please your parents or my
parents or anyone else.
We can talk all day long about what an asshole I am, but I'm not willing to
do that anymore. And if that's a requirement, then I will fail and we
shouldn't waste our time. It takes two, pure and simple. I'm very sorry
that work is overwhelming right now and that I go to school and am in the
process of fulfilling something I've always wanted to do--have property on
the coast. If you feel that we can't have the relationship you want or
need because of my schedule, then you need to tell me.
If you want to talk about these issues, that's great, but I just feel that
"you never said this," and "no, this is what I said," and all the spinning
and debating is a diversion that doesn't get to the real issues. I was
very upset that after the conversation we had with your parents, which I am
very unhappy about, you call to me I lied about something. After this
long, if you want to discuss my dishonesty, then I think we need to take a
hard look at why we're in this at all. So I'm happy to talk, but not on
the phone, and not about who's the bigger asshole, or who's a lying
son-of-a-bitch. |
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Dear Evening MBA Students,
This is the second announcement regarding our plans for the EMBA Seminar in
International Business. Much of this message is a repeat of the initial
one. But some points have been added.
NEW MATERIAL
1. As of today (December 7) we have received 30 deposits from interested
students. Should you be interested in participating and have not yet
applied, please do so as soon as possible, but in any case before the
December 15 deadline.
2. Regarding the possibility of visiting Cuba, some of you have asked about
the legality of this. Please note that I have a license from the US Dept.
of the Treasury that permits me to send students enrolled in a legitimate
course, for credit, to Cuba under certain conditions.
3. The current political situation in Indonesia is uncertain. However, my
sources there indicate that it should be OK for us to visit there if we
decide to do so. But, if the situation worsens we would alter the itinerary.
4. Some applications have been submitted without a preference for
destination. YOU MUST indicate your priority. You can rank all three
destinations if you wish, but you must indicate, at a minimum, your
priority for program A or B. Should you not be selected for your first
choice you will be transferred to the appropriate priority pool of your
second choice.
REPEAT
For those of you unfamiliar with this course, please see
http://www.haas.berkeley.edu/groups/HaasGlobal/NGcourseoutline.htm for the
2000 version that looked at Ghana, Belgium and the Netherlands or
http://www.haas.berkeley.edu/groups/HaasGlobal/JVcourseoutline.htm for the
1999 version that included Japan and Vietnam.
For 2001 we are going to try something slightly different. We will have two
distinct programs - one will be a repeat of last year's and the other will
venture into new territory. The details are as follows. Please note that
everything mentioned below is still tentative and subject to change or
cancellation.
PROGRAM DESCRIPTIONS
Both programs will commence with a series of classes, at Haas, in June.
Program A, led by Diane Dimeff will retrace the itinerary of the 2000
program to Ghana, the Netherlands and Belgium. The approximate dates for
the travel portion will be Saturday, July 7 through Saturday, July 21.
Program B, led by Sebastian Teunissen will consist of one of two possible
itineraries, depending on student demand:
itinerary 1: Cuba, Panama and Venezuela (or Costa Rica.)
itinerary 2: Australia and Indonesia.
Travel for program B will also start on approximately July 7 and end on
approximately July 21.
Costs for the programs are expected to be approximately equal to those
charged in previous years ($4,600), with the exception of the
Australia/Indonesia option. If this program is selected the final cost is
likely to be roughly $1,000 higher due to increased air fares. Final costs
will be determined once itineraries are set.
As you can see, planning is still in the early stages. But, before we go
much farther we need to know who is interested in participating. So, we
need to receive expressions of interest, in the form of a refundable $100
deposit from interested students.
APPLICATION PRIORITIES
Students will have different priorities depending on seniority. Priorities
are as follows:
Top Priority - both programs - students in fourth semester or higher in
January 2001 who HAVE NOT participated in the program in a previous year.
Second Priority - Program B only - students in fourth semester or higher
who did participate in the program in a previous year. These students are
not eligible for program A.
Lowest Priority - both programs - students in second or third semester.
Each group is limited to a maximum of 15 students.
APPLICATION PROCEDURE
Please submit, to the Evening MBA office, a check in the sum of $100
payable to UC Regents together with the following information, no later
than December 15, 2000.
- Name
- Semester level as of January 2001
- Whether or not you have previously participated in the program
- Choice of program: A or B (If you choose program B please also indicate
your preferred destination: Latin America or Australia/Indonesia.)
- e-mail address
Once we have a clear indication of preferences the final details will be
planned and announced. The announcement will likely be made in January. At
that time you will be advised of the program for which you are eligible.
You will then be asked to increase your deposit by $900 and the entire
$1,000 deposit becomes non-refundable.
OTHER ISSUES
Please check your passport to ensure that it expires no earlier than
December 31, 2001. If it does please renew it now. Passports with shorter
expirations may be rejected for visas, depending on the countries to which
you will travel.
Also, please check the visa requirements for the countries of interest for
your particular nationality. This may have a bearing on the program that
you select.
You might wish to check out the US State Department Consular Information
Sheets and Travel Warnings at http://travel.state.gov/travel_warnings.html
before applying.You may also wish to review health information at
http://www.tripprep.com/ or at http://www.cdc.gov/travel/.
Should you have any questions please contact me.
Regards,
Sebastian
===============================
Sebastian Teunissen
Director of International Affairs
Haas School of Business
University of California, Berkeley
Berkeley, California 94720-1900 USA
Tel: (510) 643-4999
Fax: (510) 642-8228
http://www.haas.berkeley.edu/HaasGlobal |
---------------------- Forwarded by David M Gagliardi/TTG/HouInd on
07/05/2000 08:21 AM ---------------------------
"Michael Gagliardi" <[email protected]> on 07/05/2000 08:08:06 AM
To: [email protected], [email protected], [email protected]
cc:
Subject: True Orange Fax/E-Mail 61
---------------------- Forwarded by Michael
Gagliardi/Hou-ComOps/EnergyTrading/PEC on 07/05/2000 08:16 AM
---------------------------
[email protected] on 07/03/2000 07:46:36 PM
To: [email protected]
cc: (bcc: Michael Gagliardi/Hou-ComOps/EnergyTrading/PEC)
Subject: True Orange Fax/E-Mail 61
True Orange Fax/E-Mail Service
Volume 8, Fax/E-Mail #61, Monday, July 3, 2000
Jerry Scarbrough's True Orange, P. O. Box 26530, Austin, Texas 78755 -
Phone
512-795-8536
Beltran Qualifies, but Sonny Davis Headed to Junior College
RB Sneezy Beltran of Abilene told me today (Monday) he made a qualifying
score of 18 on the ACT, but the mother of DT Sonny Davis of Austin Lanier
told me her son did not qualify and is heading to Gulf Coast JC in
Mississippi to play football for the next two years.
Beltran is a good student who almost qualified on his first try at the ACT,
but he said he operates best under pressure and he proved it by waiting
until
the last possible date to take it again. He is a full qualifier now and
gives
the Longhorns 19 incoming scholarship recruits.
Texas actually has 22 freshmen who have never redshirted on scholarship,
but
three of them (DT Stevie Lee and S Phillip Geiggar, both of Shreveport
Evangel, and FB Tyrone Richardson of Clarksville) enrolled last January, so
only 19 scholarship freshmen will be reporting next month for the first
time.
In addition to Davis, the Longhorns lost DT Marcel Moses of Texas City to
Kilgore JC. Both Davis and Moses say they plan to come back to UT in two
years after they graduate from junior college.
Lee looked like a future star in spring training, but Texas really needs to
sign some more defensive tackles because All-American Casey Hampton and
All-Big 12 Shaun Rogers are both heading into their senior seasons. The
defensive tackle position in the Texas high school ranks is a true good
news,
bad news story this year. The good news is that Tommie Harris of Killeen
Ellison is as good a DT prospect as there is in the country and he is a
strong Texas lean. The bad news is that there is no one else even close to
him in the entire state. So, if the Horns get Harris, they will have snared
a
great DT, but, if they don't, they sure will need to get one who can play
as
a true freshman the following year.
RB Cedric Benson of Midland Lee, who ran for a Class 5A record 3,526 yards
and another record 51 touchdowns last season in leading the Rebels to their
second straight State Championship, had to cancel his unofficial visit to
Texas last weekend. He and his mother had planned to fly to Austin
Saturday,
but they were flying standby and got bumped by the holiday traffic. He said
he will come to Austin later this month or in early Augusut to meet with
the
Texas coaches.
He is a long-time UT fan who says he wants to commit to a college this
summer
so he can concentrate on his upcoming senior season. He told me might
commit
to the Longhorns when he takes his unofficial visit.
* * * *
The Longhorns' chances at getting C Greg Barnum of Killeen Ellison are not
as
bright as they were earlier. He likes Texas, but don't believe those
internet
rumors that he has been accepted by the UT admissions office. Barnum was
supposed to be the anchor of Tennessee's offensive line this season, but he
quit the team several weeks ago.
Vol coach Phil Fulmer has refused to release him. Under Fulmer, the Vols
have one of the worst graduation rates in the college ranks. Barnum was a
good high school student, but few Vol players could meet the academic
requirements to transfer to Texas, and that might be a stumbling block for
Barnum. (If I read this on the internet, I can't be as frank on academic
matters in future e-mails!!!)
* * * *
Texas has 10 early commitments, including QB/DB Kendal Briles of Frenship,
MLB Yamil Lebron of Killeen Ellison, OLs Mike Garcia of Galena Park (who
switched from A&M to Texas), Jonathan Scott of Dallas Carter, Abe Robinson
of
Houston Jersey Village, Roman Reeves of Livingston, Will Allen of Houston
Cypress Falls and Alfio Randall of Blinn JC and DBs Braden Johnson of
Euless
Trinity and Brian Carter of The Woodlands.
* * * *
The UT n baseball coaches have signed left-handed pitcher Brantley Jordan,
6-0, 190, of Texarkana JC and formerly of Round Rock McNeil. Jordan was
11-0
last season with a 1.1 ERA in conference play and a 2-4 ERA overall. He has
a
90 mph fast ball and a very good curve ball to go along with excellent
control.
* * * *
Long-time UT tennis coach Dave Snyder has retired. Let's hope the UT brass
will hire his former top assistant, Dwayne Hultquist, to succeed him.
Hultquist, currently the head tennis coach at Florida State, is a great
recruiter who can do great things at Texas if he gets the chance.
* * * *
My next fax will be whenever events warrant.
* * * *
The True Orange Fax Service includes at least 99 faxes a year and costs
$99 ($79 by E-Mail). The True Orange Newsletter includes 26 newsletters
and
is published weekly during football season and twice monthly during most of
the other months. It costs $45. Save by subscribing to both for $130 (or
$110
if you take the faxes via E-Mail or $99 if you take the faxes and
newsletter
via E-Mail). Send check to address at the top of page. I also update my
900 number
- 1-900-288-8839
- frequently with recruiting news. My E-Mail
address is: [email protected] |
FYI
Vince
---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 06/16/2000
08:36 AM ---------------------------
"Philip Merrill" <[email protected]> on 06/16/2000 08:17:03 AM
Please respond to <[email protected]>
To: "Abe. Riazati" <[email protected]>, "Alexander Vaninsky"
<[email protected]>, "Andrew Katz" <[email protected]>, "Andrew Maxwell"
<[email protected]>, "Andrew Osterland"
<[email protected]>, "Andrew Porter" <[email protected]>,
"Andy Anderson" <[email protected]>, "Anthony. Capozzoli"
<[email protected]>, "Baxter Gillette"
<[email protected]>, "Benton Brown" <[email protected]>,
"Bernard_Lee" <[email protected]>, "Beth S. Daniel"
<[email protected]>, "Bill" <[email protected]>, "Bill Lacy"
<[email protected]>, "Bob Anthes" <[email protected]>, "Borris Ashavsky"
<[email protected]>, "Bryan Feierstein" <[email protected]>,
"Carolyn_Loverro" <[email protected]>, "CFA Maruti D. More"
<[email protected]>, "Cheri Kalman" <[email protected]>, "Chris Lewis"
<[email protected]>, "Christine Y. Zhao" <[email protected]>, "Cort
Shurtleff" <[email protected]>, "David Hall"
<[email protected]>, "David Routt" <[email protected]>, "David
Rusate" <[email protected]>, "David Shimko"
<[email protected]>, "David Stringfellow" <[email protected]>, "Dean
Kloner" <[email protected]>, "Diana P. Diaz"
<[email protected]>, "Dilip S. Kumar"
<[email protected]>, "Don Muma" <[email protected]>, "Don
Stowers" <[email protected]>, "Donna Jones" <[email protected]>,
"Doug Hoffman" <[email protected]>, "Doug Pittera"
<[email protected]>, "Doyle_Robin" <[email protected]>, "Dwight
Cass" <[email protected]>, "Erik Helland" <[email protected]>, "Frank
McEwan" <[email protected]>, "Giancarlo Ranzini" <[email protected]>, "Gordon
Goodman" <[email protected]>, "Gregory Marposon"
<[email protected]>, "H Brett Humphreys"
<[email protected]>, "Igor Bidny" <[email protected]>, "Ihalasz"
<[email protected]>, "Ira Kawaller" <[email protected]>, "J. Hinke (Jack)"
<[email protected]>, "James Johnson" <[email protected]>, "James P.
Crimmins" <[email protected]>, "Janie. J. Chen" <[email protected]>,
"Janis_Elfving" <[email protected]>, "Jason Taitt"
<[email protected]>, "Jeffery Wallace" <[email protected]>,
"Jitendra D Sharma" <[email protected]>, "Jjohnston"
<[email protected]>, "JOEL S. STIEBEL" <[email protected]>, "John Brabury
CPA" <[email protected]>, "John J. Janney" <[email protected]>, "John
Krueger" <[email protected]>, "John. Digenan"
<[email protected]>, "Jon Freund" <[email protected]>,
"Josh Kirschner" <[email protected]>, "Josie Palazzolo"
<[email protected]>, "Kelly Ardrey" <[email protected]>,
"Kelly Audrey" <[email protected]>, "Ken Moll"
<[email protected]>, "Kenneth King"
<[email protected]>, "Larry Darby" <[email protected]>, "Larry
Schwarz" <[email protected]>, "Laurence Hitchens" <[email protected]>,
"leslie Abreo" <[email protected]>, "Lisa Williams"
<[email protected]>, "Marc F Wittmer"
<[email protected]>, "Marco Ossanna" <[email protected]>, "Maria Nordone"
<[email protected]>, "Mark Abbott" <[email protected]>, "Martin Kelly"
<[email protected]>, "Martin. A. Makulski"
<[email protected]>, "Michael Driscoll"
<[email protected]>, "Mike Parlapiano" <[email protected]>,
"Mike Smith" <[email protected]>, "Mike. Kotzan" <[email protected]>,
"Moy_Chan" <[email protected]>, "Nancy Merola" <[email protected]>,
"Paige Grumulaitis" <[email protected]>, "Pamela Jasper"
<[email protected]>, "Paul Vedova" <[email protected]>, "Peter Casanas"
<[email protected]>, "Peter Connors" <[email protected]>, "Ph. D.
Joshua Musher" <[email protected]>, "Rajesh Mirpuri" <[email protected]>, "Randy D
Wilson" <[email protected]>, "Randy Katzenstein" <[email protected]>,
"Richard McMahon" <[email protected]>, "Rick Rexon" <[email protected]>, "Rita
Previtali" <[email protected]>, "Robert A Krizner"
<[email protected]>, "Robert Cataldo" <[email protected]>, "Robert Lally"
<[email protected]>, "Robert M Traficanti" <[email protected]>,
"Robert McDonough" <[email protected]>, "Robert McLaughlin"
<[email protected]>, "Robert P Sullivan"
<[email protected]>, "Roger Beckwith" <[email protected]>,
"Roger Pearson" <[email protected]>, "Ron Baker" <[email protected]>, "Ron
Frisk" <[email protected]>, "Rudy Henkel" <[email protected]>, "Sajjad
Rizvi" <[email protected]>, "Santa Marletta" <[email protected]>, "Stephen
T. Haynes" <[email protected]>, "Steven Berley" <[email protected]>,
"Steven Carlson" <[email protected]>, "Steven. J. Lerit"
<[email protected]>, "Sudha Yerneni" <[email protected]>, "Susan
Mangiero" <[email protected]>, "Tess Chi" <[email protected]>,
"Thomas Schimelpfenig" <[email protected]>, "Thomas_Traub"
<[email protected]>, "Tim. MacDonald" <[email protected]>,
"Todd A Johnson" <[email protected]>, "Tony Blinfanti"
<[email protected]>, "Vice-President Mark Williams"
<[email protected]>, "Vince Kaminski" <[email protected]>, "Vipul
Kadakia" <[email protected]>, "Wayne Caviness" <[email protected]>,
"Wilfred Romero" <[email protected]>, "Young Lee"
<[email protected]>
cc:
Subject: FAS 133 Amendments Available For Download
The standard is now available on the FASB's website until 6/30.
Go to HTTP://fasb.org click first Financial Accounting Standards Board click
first item FAS 138 on FASB home page. |
Craig -
The attached is fine with me. The only item that did not appear to be kept
was language in Paragraph 7 indicating that the jurisdiction for injunctive
relief was the Courts of New York. If the work is being done in the States
and NY law is applicable, the proper forum is in New York for this action.
If we need to discuss this further with Orbian, please let me know and I will
be happy to do so.
Mark
Senior Counsel, EWS
Phone: 713-345-8897
Facsimile: 713-646-3490
E-Mail: [email protected]
Craig Chaney/ENRON@enronXgate
05/22/2001 03:52 PM
To: Mark Greenberg/NA/Enron@ENRON
cc:
Subject: Confidentiality Agreement with Orbian
Mark,
Here is the revised NDA from Orbian. I would appreciate an expedited review
since we are holding off discussion until we can get signed.
They incorporated our changes except they would like to have the agreement
last for three years rather than two. They indicated that Enron Supply had
agreed to a three term. I do not have any commercial concerns with this.
Please let me know when you can complete your review so I can schedule our
talks with Orbian.
Thanks,
Craig
-----Original Message-----
From: Greenberg, Mark
Sent: Tuesday, May 01, 2001 3:20 PM
To: Chaney, Craig
Cc: O'Connell, Denis; Jones, Tana
Subject: Re: FW: FW: Confidentiality Agreement with Enron Credit
Craig -
I have looked over the attached document. Based upon the draft we provided
in January, Orbian has made a number of changes which are acceptable to me.
Only the following present issues:
1. Paragraphs 3(a), 3(b) and 6 - The original form of this agreement had 5
years as the time period for protection and return of confidential
information. We had proposed 1 year and they have now come back with 3
years. The timing under other Enron NDA's is generally 2 years.
Accordingly, this time period should be suggested for these paragraphs.
2. Paragraph 3(d) - I had previously deleted the phrase "and each such copy
shall be marked with the same proprietary notices that appear on the
originals (if any)." Orbian now wants to keep this phrase. Since this
presents an administrative burden which we do not support now, it makes
little sense to maintain this with the agreement. Accordingly, it should be
deleted.
3. Paragraph 7 - The added provisions of "and/or their Affiliates" should be
deleted in two places. The affiliates of the parties are not third party
beneficiaries of this Agreement, nor signatories to the agreement.
Accordingly, any action they may have against Enron would be outside of this
Agreement.
Otherwise, the agreement looks fine.
Please let me know if you should need anything further.
Mark
Senior Counsel, EWS
Phone: 713-345-8897
Facsimile: 713-646-3490
E-Mail: [email protected]
Craig Chaney/ENRON@enronXgate 05/01/2001 02:52 PM To: Mark
Greenberg/NA/Enron@ENRON cc: Subject: FW: FW: Confidentiality Agreement
with Enron Credit
Mark,
Could you please review this Confidentiality Agreement. Is there any chance
that you could get it completed by the end of the week? I will be meeting
them soon and they need to have this agreement in place.
Please let me know.
Thanks,
Craig
-----Original Message-----
From: Johnson, Gillian
Sent: Monday, April 30, 2001 2:10 PM
To: Harris, Bruce
Cc: Craig Chaney/HOU/ECT@ENRON
Subject: Re: FW: Confidentiality Agreement with Enron Credit
You may also be interested in Orbian. They are looking for ways to shed the
risk they are incurring as they iossue something called Orbian credits.
There may also be partnering sorts of opportunities but the potential
poretfolio opps may be greater in the short run.
Stop by if you want a quick review of who they are (from my less than stellar
memory)
Gillian
---------------------- Forwarded by Gillian Johnson/HOU/EES on 04/30/2001
02:06 PM ---------------------------
<< OLE Object: Picture (Device Independent Bitmap) >>
Gillian Johnson
04/30/2001 10:58 AM
To: <[email protected]>
cc: Craig Chaney
Subject: Re: FW: Confidentiality Agreement with Enron Credit << OLE Object:
StdOleLink >>
Bill,
Good to hear from you. I am forwarding this mesage to Craig Chaney who is
Enron Credit's Director of Product Development since I have moved to another
division within Enron. Please feel free to contact him directly at
713-853-3840 for further discussions.
Thank you and good luck in developing a mutually beneficial relationship.
Gillian Johnson
<< OLE Object: Picture (Device Independent Bitmap) >>
"Bill Follini" <[email protected]> on 04/30/2001 08:42:14 AM
Please respond to <[email protected]>
To: <[email protected]>
cc: <[email protected]>, <[email protected]>, "Laura Petersen
\(E-mail\)" <[email protected]>
Subject: FW: Confidentiality Agreement with Enron Credit
Gillian,
I know this has taken a while but we
are still interested
in discussions with your organization
on opportunities.
Attached is a revision to our CA based
on your input. Can
you please followup with Laura and
provide her with your comments.
Regards,
Bill
mailto:[email protected]
Director of Sales, Americas
767 Third Ave. 19fl, NY NY 10017
+ 1 (212) 851-8310 office
+ 1 (212) 223-1799 fax
+ 1 (646) 436-6600 cell
+ 1 (509) 694-4804 efax
www.orbian.com
This email is confidential and may also
be privileged. If you are not the
intended recipient, please notify the
sender immediately. Any viewing,
copying, distribution, disclosure or
other use by anyone who is not the
intended recipient is strictly
prohibited.
- NDA Orbian Markup 13.02.01.pdf << File: NDA Orbian Markup 13.02.01.pdf >> |
Lia, Jay Hartman (281.367.8697) has verbally advised us that the SL 14521 #1
well will be shut-in for a short period and has therefore requested that we
reduce the existing nomination for 01/2001 at TGT meter 9502 on sitara deal
540814 from 316 Mmbtu/d (13% of 2,434 Mmbtu/d) to 0. You indicated you will
reduce the nomination to 0 for the entire month; we will notify you once
production re-commences and the nomination should be re-entered at its
previous level.
Jill, this gas was purchased from Hunt in December by the East Desk, so no
Wellhead Desk changes are required for this month.
George x3-6992
---------------------- Forwarded by George Weissman/HOU/ECT on 12/29/2000
08:11 AM ---------------------------
Enron North America Corp.
From: George Weissman 12/28/2000 05:58 PM
To: Samuel Schott/HOU/ECT@ECT
cc: Melissa Graves/HOU/ECT@ECT, Lia Halstead/NA/Enron@ENRON, Gary
Bryan/HOU/ECT@ECT, Mary G Gosnell/HOU/ECT@ECT, Jason Moore/HOU/ECT@ECT
Subject: St. Mary's Production LLC VPP
Hunt Oil Company Myette Point Northwest Field
St. Mary Parish, LA
Sam, the counterparty record for St. Mary's Production LLC (BA 88272) does
not include a DnB status. It is my understanding that our East Desk cannot
schedule St. Mary's gas without a DnB number. Could you please have a DnB
number established for St. Mary's Production LLC? Thanks.
Due to the holidays, I sent a copy of this note to both Mary and Jason.
George x3-6992
---------------------- Forwarded by George Weissman/HOU/ECT on 12/28/2000
05:44 PM ---------------------------
Enron North America Corp.
From: George Weissman 12/27/2000 08:17 AM
To: Judy Townsend/HOU/ECT@ECT
cc: Susan W Pereira/HOU/ECT@ECT, Gary Bryan/HOU/ECT@ECT, Eric
Moon/HOU/ECT@ECT, John Griffith/Corp/Enron@Enron, Eric Wardle/HOU/ECT@ECT,
Linda Roberts/NA/Enron@Enron, Jill T Zivley/HOU/ECT@ECT, Melissa
Graves/HOU/ECT@ECT, Bob M Hall/NA/Enron@Enron, Lia Halstead/NA/Enron@ENRON,
William Kelly/HOU/ECT@ECT, Robert Crockett/HOU/ECT@ECT
Subject: St. Mary's Production LLC VPP
Hunt Oil Company Myette Point Northwest Field
St. Mary Parish, LA
Judy,
Confirming our telephone conversation of this morning, please convert the gas
daily volume of 1,157 Mmbtu/d for 1/2001 on ticket 541140 (intra-desk) to an
increased volume of 2,434 Mmbtu/d for 1/2001 at Index plus $0.005.
With respect to the Wellhead Desk/St. Mary's ticket, please also convert the
gas daily volume of 1,157 Mmbtu/d for 1/2001 on ticket 540814 to an increased
volume of 2,434 Mmbtu/d for 1/2001 at Index plus $0.0025.
Currently, the volumes are split 50-50 between meters 9437 and 9502. We
actually expect 87% of the volume at meter 9437 and 13% of the voume at meter
9502.
George x3-6992
---------------------- Forwarded by George Weissman/HOU/ECT on 12/27/2000
07:59 AM ---------------------------
Enron North America Corp.
From: George Weissman 12/20/2000 09:01 AM
To: Eric Moon/HOU/ECT@ECT, John Griffith/Corp/Enron@Enron
cc: Gary Bryan/HOU/ECT@ECT, Eric Wardle/HOU/ECT@ECT, Linda
Roberts/NA/Enron@Enron, Jill T Zivley/HOU/ECT@ECT, Melissa
Graves/HOU/ECT@ECT, Bob M Hall/NA/Enron@Enron, Lia Halstead/NA/Enron@ENRON,
William Kelly/HOU/ECT@ECT
Subject: St. Mary's Production LLC VPP
Hunt Oil Company Myette Point Northwest Field
St. Mary Parish, LA
Eric (Moon) and John, attached are the tickets for the physical part of the
Preston VPP deal. Please work with Will Kelly to have them entered into
Sitara and provide me with the deal numbers.
Eric (Wardle), we'll need to get contract numbers established for the
Counterparty Firm Agreement (ECT Merchant Investments) and the Counterparty
Spot Agreement (St. Mary's Production LLC). Have either of these agreements
yet been executed? If not, should we generate a spot gtc for the St. Mary's
spot production?
George x3-6992
---------------------- Forwarded by George Weissman/HOU/ECT on 12/20/2000
08:31 AM ---------------------------
Enron North America Corp.
From: George Weissman 12/19/2000 08:03 AM
To: Eric Moon/HOU/ECT@ECT, John Griffith/Corp/Enron@Enron
cc: Gary Bryan/HOU/ECT@ECT, Eric Wardle/HOU/ECT@ECT, Linda
Roberts/NA/Enron@Enron, Jill T Zivley/HOU/ECT@ECT, Melissa
Graves/HOU/ECT@ECT, Bob M Hall/NA/Enron@Enron
Subject: St. Mary's Production LLC VPP
Hunt Oil Company Myette Point Northwest Field
St. Mary Parish, LA
Eric & John
ECT Merchant Investments Corp. has entered into a Volumetric Production
Payment agreement with St. Mary's Production LLC which provides for the
dedication of St. Mary's non-operated gas production from the Hunt Oil
Company operated Myette Point Northwest Field. ECT Merchant Investments
Corp. has arranged for the Enron North America Upstream Wellhead Desk to
manage the sale, nomination and transport of this production.
Could you please get us a quote to purchase this wellhead gas on a firm basis
based on the following:
a. 18 month term commencing 1/1/2001 and ending 6/30/2003
b. firm purchase and firm transport for 90% of the wellhead volume, starting
at 90% of 11,567 per day and declining as defined on the last tab labelled
"Volume" on the spreadsheet attached
c. gas daily purchase and interruptible transport for the remaining 10% of
the wellhead volume
Enron Upstream will keep the desk financially whole should volumes for the
90% firm component fail to show up on any given day of the 18 month term
Drafts of proposed Deal Tickets are attached.
George x3-6992 |
Platts Energy Bulletin
The daily Energy Bulletin is a showcase of the top headlines posted on
platts.com (http://www.platts.com) over the past 24 hours. To view this file in
html, open the attachment at the bottom of this email. We welcome your feedback
- send your comments to [email protected]. Instructions for unsubscribing can
be found at the bottom of each issue.
February 8, 2002
What's New on platts.com?
Platts Enron Report: Read about the implications of Enron's bankruptcy on the
financial and energy communities.
(http://www.platts.com/features/enron/index.shtml)
US Energy Security: Consortium finds eager market For INEEL security technology.
(http://www.platts.com/features/ussecurity/)
ENERGY INSIGHT:
(for Platts Premium Customers)
Reliability drives transmission system improvements
While energy companies outwardly seem to exhibit a collective version of Nero:
fiddling while much of the nation's transmission system sags, individual
companies are spending significant sums to take some of the strain off
particular soft spots. (http://www.einsight.com)
Advertisement:
Platts Global Energy Jobs Board and Resume Bank: Created in partnership with the
Energy Jobs Network, the Jobs Board gives you access to a pool of job seekers
and open positions across the energy industry. It's free for all job seekers,
and there is a range of packages for employers posting jobs.
(http://www.energyjobsnetwork.com/home.asp?code=platts)
Futures Round-up
NYMEX: Crude to open higher, still range-bound
NYMEX March crude oil is called to open 21 cts higher at $19.85/bbl Friday.
March Brent is called to open 23 cts higher at $19.45/bbl. March heating oil is
called to open 66 pts higher at 52.60 cts/gal and March unleaded gasoline is
called to open 38 pts higher at 57.35 cts/gal.
IPE Brent Focus: IPE Brent crude higher on technical strength
Front-month March futures stood at $19.46/bbl at 1105 GMT, 25 cts higher than
Thursday's settlement, while April had ticked 24 cts higher at the same time.
News Round-up
Click on the headlines below or paste the URLs provided in your internet browser
to see the full story.
OIL:
Oil market calm as OPEC cuts begin to bite: IEA
Sentiment in the oil market remained calm as OPEC cuts began to take effect, but
with little help from key non-OPEC producers, the International Energy Agency
said Friday. (http://www.platts.com/archives.shtml#58751)
NATURAL GAS:
Alaska proposes tax-free bonds for gas pipeline
Alaska Governor Tony Knowles Thursday was expected to propose that a pipeline to
transport natural gas from Alaska through Canada to the US Lower 48 be financed
using tax-free bonds issued by the Alaska Railroad Corp, a spokesman for the
governor said. (http://www.platts.com/archives.shtml#58725)
PETROCHEMICALS:
Bayer, ICI options to trade on Philadelphia exchange
Options for chemical manufactuing companies Bayer AG and ICI PLC will begin
trading on the Philadelphia Stock Exchange Friday, the exchange announced
Thursday. (http://www.platts.com/archives.shtml#58731)
Advertisement:
Platts Global Energy Buyers' Guide: The Buyers' Guide encompasses thousands of
products and services needed worldwide by companies involved in the generation
and delivery of electric power and its related services. It is a dynamic
information service, updated daily as companies enter the market, merge or
change their product/service offerings.
ELECTRIC POWER:
Philippines faces setback in Enron plants buyout talks
The Philippines Private Sectors Assets and Liabilities Management Corp's
negotations with bankrupt US firm Enron to buy out its two power plants in the
Philippines had suffered a setback, a Department of Energy official said Friday.
(http://www.platts.com/archives.shtml#58743)
NUCLEAR:
UK government urged to make ?clear statement? on nuclear power
The UK government should make a ?clear statement? on nuclear?s future "as
quickly as possible," House of Commons' Trade & Industry Committee Chairman
Martin O'Neill told a press conference Feb 7.
(http://www.platts.com/archives.shtml#58724)
To see the past five day's headlines posted on platts.com
go to Platts archives (http://www.platts.com/archives.shtml).
Upcoming Events:
"Grid Business: The Midwest," an Electrical World Roundtable in cooperation with
R.J. Rudden Associates and the United States Energy Association. March 20-21,
2002, in St. Louis, Missouri.
(http://www.platts.com/gridbusiness/index.html)
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Annual Global Power Markets Conference. March 24-26, 2002, in New Orleans.
(http://www.platts.com/electricpower/GPMConf2002/index.shtml)
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More org stuff. Randy must now be with EWS Legal, since I see he is in an
office on 38.
Kay
---------------------- Forwarded by Kay Mann/Corp/Enron on 03/19/2001 03:14
PM ---------------------------
From: Mark E Haedicke@ECT on 02/21/2001 03:17 PM
Sent by: Janette Elbertson@ECT
To: Alan Aronowitz/HOU/ECT@ECT, Roger Balog/HOU/ECT@ECT, Peggy
Banczak/HOU/ECT@ECT, Sandi M Braband/HOU/ECT@ECT, Robert
Bruce/NA/Enron@Enron, Teresa G Bushman/HOU/ECT@ECT, Bob Carter/HOU/ECT@ECT,
Michelle Cash/HOU/ECT@ECT, Barton Clark/HOU/ECT@ECT, Harry M
Collins/HOU/ECT@ECT, Mary Cook/HOU/ECT@ECT, Nancy
Corbet/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Ned E
Crady/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Eddy Daniels/NA/Enron@Enron,
Angela Davis/NA/Enron@Enron, Peter del Vecchio/HOU/ECT@ECT, Stacy E
Dickson/HOU/ECT@ECT, Andrew Edison/NA/Enron@Enron, Shawna Flynn/HOU/ECT@ECT,
Chris Gaffney/TOR/ECT@ECT, Robert H George/NA/Enron@Enron, Barbara N
Gray/HOU/ECT@ECT, James Grace/Corp/Enron@ENRON, Mark
Greenberg/NA/Enron@ENRON, Wayne Gresham/HOU/ECT@ECT, Leslie
Hansen/HOU/ECT@ECT, Jeffrey T Hodge/HOU/ECT@ECT, Dan J Hyvl/HOU/ECT@ECT,
Karen E Jones/HOU/ECT@ECT, Anne C Koehler/HOU/ECT@ECT, Alan
Larsen/PDX/ECT@ECT, Dan Lyons/HOU/ECT@ECT, Bruce
Lundstrom/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Kay Mann/Corp/Enron@Enron,
Jane McBride/AP/Enron@Enron, Travis McCullough/HOU/ECT@ECT, Lisa
Mellencamp/HOU/ECT@ECT, Janet H Moore/HOU/ECT@ECT, Janice R
Moore/HOU/ECT@ECT, Julia Murray/HOU/ECT@ECT, Cheryl Nelson/NA/Enron@Enron,
Gerald Nemec/HOU/ECT@ECT, Marcus Nettelton/NA/Enron@ENRON, Limor
Nissan/NYC/MGUSA@MGUSA, John Novak/SA/Enron@Enron, Francisco Pinto
Leite/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Angeline Poon/SIN/ECT@ECT, David
Portz/HOU/ECT@ECT, Dale Rasmussen/HOU/ECT@ECT, Coralina
Rivera/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Michael A Robison/HOU/ECT@ECT,
Daniel R Rogers/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Elizabeth
Sager/HOU/ECT@ECT, Richard B Sanders/HOU/ECT@ECT, Frank
Sayre/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Lance Schuler-Legal/HOU/ECT@ECT,
Sara Shackleton/HOU/ECT@ECT, Shari Stack/HOU/ECT@ECT, Carol St
Clair/HOU/ECT@ECT, Carlos Sole/NA/Enron@Enron, Lou Stoler/HOU/ECT@ECT, Mark
Taylor/HOU/ECT@ECT, Sheila Tweed/HOU/ECT@ECT, Steve Van Hooser/HOU/ECT@ECT,
John Viverito/Corp/Enron@Enron, Ann Elizabeth White/HOU/ECT@ECT, Randy
Young/NA/Enron@Enron, Stuart Zisman/HOU/ECT@ECT, Susan Bailey/HOU/ECT@ECT,
Kimberlee A Bennick/HOU/ECT@ECT, Martha
Braddy/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Sarah
Bruck/ENRON_DEVELOPMENT@ENRON_DEVELOPMENt, Genia FitzGerald/HOU/ECT@ECT, Nony
Flores/HOU/ECT@ECT, Linda R Guinn/HOU/ECT@ECT, Ed B Hearn III/HOU/ECT@ECT,
Mary J Heinitz/HOU/ECT@ECT, Tana Jones/HOU/ECT@ECT, Kathleen
Carnahan/NA/Enron@Enron, Deb Korkmas/HOU/ECT@ECT, Laurie Mayer/HOU/ECT@ECT,
Matt Maxwell/Corp/Enron@ENRON, Mary Ogden/HOU/ECT@ECT, Debra
Perlingiere/HOU/ECT@ECT, Larry Pardue/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT,
Robert Walker/HOU/ECT@ECT, Kay Young/HOU/ECT@ECT, Merrill W Haas/HOU/ECT@ECT,
Andrea Calo/SA/Enron@Enron, Brent Hendry/NA/Enron@Enron, David
Minns/ENRON_DEVELOPMENT@ENRON_DEVELOPMENt, Greg Johnston/CAL/ECT@ECT, Peter
Keohane/CAL/ECT@ECT, Justin Boyd/LON/ECT@ECT, Edmund Cooper/LON/ECT@ECT, Mark
Elliott/LON/ECT@ECT, Mark Evans/Legal/LON/ECT@ECT, Denis
O'Connell/LON/ECT@ECT, Robert Quick/LON/ECT@ECT, Paul Simons/LON/ECT@ECT,
Martin Rosell/OSL/ECT@ECT, Rahul Saxena/LON/ECT@ECT, Greg
Johnston/CAL/ECT@ECT, Mark Powell/CAL/ECT@ECT, Christian Yoder/HOU/ECT@ECT,
Matthias Lee/SIN/ECT@ECT, Suzanne Adams/HOU/ECT@ECT, Connie
Castillo/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Sheri L Cromwell/HOU/ECT@ECT,
Margaret Doucette/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Janette
Elbertson/HOU/ECT@ECT, Kaye Ellis/HOU/ECT@ECT, Carolyn
George/Corp/Enron@ENRON, Holly Keiser/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT,
Jan M King/HOU/ECT@ECT, Taffy Milligan/HOU/ECT@ECT, Pat Radford/HOU/ECT@ECT,
Becky Spencer/HOU/ECT@ECT, Linda J Simmons/HOU/ECT@ECT, Dina
Snow/Corp/Enron@Enron, Twanda Sweet/HOU/ECT@ECT, Brenda
Whitehead/HOU/ECT@ECT, Yo Yamanishi/AP/Enron@Enron, Claudia
Meraz/HOU/ECT@ECT, Reginald Shanks/HOU/ECT@ECT, Wendi
Hoelscher/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, MaryHelen
Martinez/NA/Enron@Enron, Sami Arap/SA/Enron@Enron, Luiz
Watanabe/SA/Enron@Enron, Andrea Calo/SA/Enron@Enron, Patricia
Dutra/SA/Enron@Enron, Karla Azevedo/SA/Enron@Enron, Nancy
Muchmore/NA/Enron@Enron, Sandra Vassel/SA/Enron@Enron, Miguel
Mendoza/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Fabian Valle/SA/Enron@Enron,
Paula Porto/SA/Enron@Enron, Celina Ozorio/SA/Enron@Enron, Maria Pia
Beccaccini/SA/Enron@Enron
cc:
Subject: Organizational Announcement
We are pleased to announce organizational changes to the Enron South America
legal department in response to the recent reorganization and realignment of
the principal Enron Wholesale Services business units operating in the
region, Enron Americas and Enron Global Assets.
Randy Young, currently General Counsel of ESA, will be assuming new
responsibilities within Enron. John Novak will become General Counsel of
ESA, reporting to Mark Haedicke. The ESA legal department will be
responsible for supporting all Enron Americas and Enron Global Assets
businesses in the region. Additional legal resources, coordinated by Lance
Schuler, will be provided from EWS Legal in Houston to support ESA's
wholesale activities. John will also work closely with Bruce Lundstrom,
General Counsel of EGA, to coordinate legal support with respect to the EGA
businesses in the region. An organizational chart describing the new
structure is attached.
This new structure will enable us to continue to provide quality legal
support across business lines within South America while improving
coordination and providing additional support from Houston for Enron's
existing operating businesses, as well as the new business development
initiatives under way in the region. |
---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 05/02/2000
02:01 PM ---------------------------
Jim Dyer <[email protected]> on 05/02/2000 12:04:06 PM
To: "'[email protected]'" <[email protected]>
cc: Sheridan Titman <[email protected]>
Subject: RE: Real Options
Vince,
If you take a cab, ask them to take you to the College of Business
building at the corner of 21st and Speedway. The main entrance to the
business school is on Speedway, across from the old gymnasium. Come in the
main entrance, which has a large, glass structure, and you will be on the
second floor. Go to your left and ride up the first set of escalators to
the third floor. When you step off of the escalators, you'll be facing
north and continue in that direction through two sets of glass doors into
the northern side of the building. This is where most faculty offices are
found. My office is 3.218, which is in the northwest corner of the
building.
If you have any problems, you should be able to ask directions from
most anyone in the halls. I will look for you around 11:00 on Thursday, and
will be happy to provide any other transportation that you need. Please let
me know if you have any other questions.
Jim
-----Original Message-----
From: [email protected] [mailto:[email protected]]
Sent: Tuesday, May 02, 2000 9:23 AM
To: [email protected]
Cc: [email protected]; [email protected];
[email protected]
Subject: RE: Real Options
Jim,
I can take a cab or get a rental car from the airport (thanks for your
kind offer).
I shall appreciate, however, if you could drop me off at the hotel before
dinner.
The time allocation for my speech is about right. I think I shall need
about 90
minutes.
Please let me know where we can meet on Thursday. I shall be at an
off-site
on Wednesday but you can reach me on my cell phone (713 410 5396)
and by sending a cc message to my AOL address: [email protected].
I look forward to meeting you.
Vince
Jim Dyer <[email protected]> on 05/01/2000 01:42:44 PM
To: "'[email protected]'" <[email protected]>
cc: Sheridan Titman <[email protected]>
Subject: RE: Real Options
Vince,
I could pick you up at the airport, or you could rent a car and come
to campus. I have made tentative plans for us to go to lunch with some
other faculty between 11:30 and 12:00, and then you would have some time to
visit with Sheridan and perhaps with some other faculty members as well
between lunch and my class.
Sheridan and a guest speaker from his class, Suresh Sundaresan from
Columbia, will be joining us for dinner. I could provide transportation to
your hotel, and pick you up for dinner as well if you consider that to be
the most convenient alternative.
I will have a PC available in the classroom, with Office 2000 and
windows NT. You could use powerpoint with no difficulty from that machine,
if that's most convenient. You could simply email the presentation, and I
would have it for you if you prefer.
How much time would you like? I would like to reserve about 30
minutes at the end for a general discussion of issues related to real
options, and about 30 minutes at the beginning of class for some remarks
regarding the final assignment and a class evaluation by the students
(which
is required for all classes). At some point, we should take a brief break,
so that would leave approximately 1.5 to 2 hours for your presentation if
you would like that flexibility. Otherwise, I could take up the "slack".
I look forward to seeing you on Thursday.
Jim
-----Original Message-----
From: [email protected] [mailto:[email protected]]
Sent: Friday, April 28, 2000 11:21 AM
To: [email protected]
Cc: [email protected]; [email protected]
Subject: Re: Real Options
Jim,
I am scheduled to arrive in Austin on May 4 at 10:32 a.m.
I shall be glad to join you and a group of your colleagues for lunch.
I am flying back to Houston Friday morning and we can meet for dinner
after
the class.
I shall have a Power Point presentation on my PC. I can also
prepare a set of transparencies if this is more convenient for you.
Vince
Jim Dyer <[email protected]> on 04/27/2000 05:44:51 AM
To: "'[email protected]'" <[email protected]>
cc: Sheridan Titman <[email protected]>
Subject: Real Options
Vince,
I am traveling at this time, attending a NSF meeting in Washington.
However, I wanted to touch base regarding plans for your presentation in my
class on real options next Thursday (May 4). As you recall, the class is
from 3:30 to 6:30, and you could plan to take a significant part of that
time for your presentation. Sheridan Titman has agreed to join us after
his
class at about 6:00 for a 30 minute "panel discussion" with the students on
issues related to real options in practice.l
I am not sure about your travel plans, but we would be happy to plan
lunch on Thursday with several of my colleagues. I would also be delighted
to be your host for dinner on Thursday night if that is convenient for you.
I'll be back in my office on Monday, and will look forward to
hearing from you.
Jim
James S. Dyer
Fondren Centennial Chair in Business
Department of Management Science and Information Systems
CBA 5.202
The University of Texas at Austin
Austin, Texas 78712-1175
Email: [email protected]
Telephone: 512-471-5278
Fax: 512-471-0587 |
Commenting on his general perception of the settlement conference, the Chief Judge, in his down home manner, did not miss the opportunity to say that "you can take a horse to water but you can't make him drink." Below is a Cliff Notes version of the Judge's report and recommendation issued at 4:49 PM today. Attached is the complete work.
The Judge opined that very large refunds would be due- "While the amount of such refunds is not $8.9 billion as claimed by the State of California, they do amount to hundreds of millions of dollars, probably more than a billion dollars in an aggregate sum. ?At the same time, while there are vast sums due for overcharges, there are even larger amounts owed to energy sellers by the CAISO, the investor owned utilities, and the State of California. Can a cash refund be required where a much larger amount is due the seller? The Chief Judge thinks not." Another notable quote: "?it is the opinion of the Chief Judge that the amount claimed by the State of California has not and cannot be substantiated."
The Judge noted that he submitted a proposal of his own on July 5, which was summarily rejected by the State of California, and that the five separate offers of the various industry groups to settle with California were also rejected.
Refund Effective Date- Refund effective date of October 2, 2000, for sales in the spot markets of the CAISO and the Cal PX. The Chief Judge's recommendations do not go beyond that date. "Spot market" sales are "sales that are 24 hours or less and that are entered into the day of or day prior to delivery."
Evidentiary Hearing- "The differences between what the State of California believes the buyers in the California markets are owed in refunds and what the sellers in the California market believe should be refunded raise material issues of fact. The appropriate numbers to calculate potential refunds involve factual disputes. Thus, the Chief Judge recommends that a trial-type, evidentiary hearing be ordered limited to a factual record to apply to the methodology set forth below. Because of the urgent need for an answer to the refund issues that hearing should be on a 60-day fast track schedule. It is important that a single methodology be adopted for calculating potential refunds in this proceeding. However, such a methodology may not be appropriate for all sellers in the CAISO's and Cal PX's spot markets in an after-the-fact refund calculation. In any event, sellers not using the methodology should bear the burden of demonstrating that their costs exceeded the results of the methodology recommended herein over the entire refund period."
Methodology- The Chief Judge recommends that the methodology set forth in the June 19th Order be used with the modifications discussed below in order to calculate any potential refunds that may be due to customers in the CAISO's and Cal PX's spot energy and ancillary service markets for the period October 2, 2000 through May 28, 2001.
Heat Rate- The actual heat rates, rather than hypothetical heat rates (associated with recreating the must-bid requirement of the June 19th Order) provide the first step in calculating the cost of the marginal unit.
Gas Cost- The gas costs associated with the marginal unit should be based upon a daily spot gas price. "In the event that the marginal unit is located in NP15 (North of Path 15), the daily spot gas price for PG&E Citygate and Malin should be averaged with the resulting gas price multiplied by the marginal unit's heat rate to calculate a clearing price for that hour. If the marginal unit is located in SP15 (South of Path 15), the daily spot gas price for Southern California Gas large packages should be multiplied by the marginal unit's heat rate to calculate a clearing price for that hour. The daily spot gas prices should be for the "midpoint" as published in Financial Times Energy's "Gas Daily" publication for the aforementioned delivery points. The last published gas prices should be used in calculating the refund price for the days that Gas Daily is not published (weekends and holidays)."
O&M Adder- An adder of $6/MWh for O&M should also be included with the calculated market clearing price.
Emissions Costs- Demonstrable emission costs should be excluded from the market clearing price and treated as an additional expense that sellers may subtract from their respective refund calculation.
Credit Adder- The 10 percent adder should be included in the market clearing price for all transactions that occurred after January 5, 2001 when PG&E and SoCal Edison were deemed no longer creditworthy.
Ancillary Services- Consistent with the June 19th Order, ancillary service prices would be capped at the market clearing price established in the real-time imbalance energy market. Adjustment bids would also be treated the same as set forth in the June 19th Order.
Maximum Price for Non-Emergency Hours- Somewhat unclear. The Chief Judge recommends that for purposes of recreating a competitive market for calculating refunds, the refund methodology should deviate from the 85% non-emergency requirement of the June 19th Order. To measure the amount that actual prices may have exceeded the refund price, every hour should be recalculated.
Offsets- "Recalculating the hourly competitive price for purposes of a refund calculation would also permit the Cal PX and CAISO to resettle all charges for the refund period. Amounts owed to sellers and outstanding amounts due from buyers would be recalculated. Any refunds could then be offset against accurate amounts receivable without sellers netting out any of their purchases from the CAISO and Cal PX during the refund period."
Interest- Interest should not be charged against any refund amounts unless the refund amount exceeds the amounts that are past due to the seller. |
RE: the important intermediary that will break the stranglehold on racism
here. The Betas might get one of white guys in the Black Frat to step in
to help.
"CARL HOHL" <[email protected]> on 11/15/2001 09:55:49 AM
Please respond to [email protected]
To: [email protected]
cc:
Subject: Re: [smu-betas] Sad day for Auburn Betas
alDentiii, JaDrow:
I applaud your additions and input! He's right, Woody.
And he doesn't need me to say that, either, but I wish I had thought of
what he added first!
The B.F. (Black Fraternity, what are the Greek letters?) holds most of the
cards in this scenario. Therefore, whoever the intermediary is is
excruciatingly important vis-a-vis credibility with local Auburn parties as
well as the National fraternities.
Bottom line: Can everybody (including the polka-dotted people) step
outside of their stereotypical roles for a minute and make a statement to
their unborn sons and daughters that racism of all colors ends with our
generation? (Shocking coming from a Republican) Or is this just another
news story, another missed opportunity? After all, we went to SMU for the
same reason they are at Auburn now. Most of us are or will be amused to
look back at some of the unexpected sources of the lessons learned.
Can you tell that my profession is very close to this question more often
than all of its members wish to admit?
The Less Diplomatic Brother Sarl
Wed, 14 Nov 2001 20:12:22 aldentiii wrote:
>Woody, though Brother Carl's suggestions have some merit, I suggest that
if
>you are going to get involved and
>talk to your son's actives that a little more diplomacy be considered. I
>too have read many of the news reports about the
>"incident", and several were coupled with quotes from members of the Black
>fraternity aimed directly at the Betas rather than
>the Delta Sigs. I think that any attempt on the part of the local
(former)
>chapter members to approach the members of the Black fraternity for
>forgiveness will be met with outrage and will be rejected and blown up in
>the press in such a way as to
>make impossible a solution. The chapter needs to find an intermediary who
>they can talk to and who has credibility with the Black fraternity. They
>need to have a complete game plan to pitch to the intermediary, who, if
>convinced with their sincerity about their remorse in what happened, will
be
>willing to pitch their case to the Black fraternity in hopes of bringing
>about a meeting between representatives from the Beta chapter and the
Black
>fraternity to iron out an agreement to resolve the dispute and to include
>the Black fraternity in supporting a petition to reinstate the chapter's
>charter (and probably with conditions which the Black fraternity will
demand
>and which the Betas - behind the eight ball - can't negotiate away).
>Unfortunately, the Betas are not in a good bargaining position. So
whatever
>course they elect to take, they will need to remember this. They will
have
>to eat a whole lot of humble-pie to get that charter back.
>
>- kai -
>
>Dick Dent a.k.a. the Deacon #267
>
>----- Original Message -----
>From: "woody berry" <[email protected]>
>To: <[email protected]>
>Sent: Wednesday, November 14, 2001 12:23 PM
>Subject: Re: [smu-betas] Sad day for Auburn Betas
>
>
>> Carl,
>> That's a great idea and is one the men there are already trying to
>work
>> on. As you might imagine, relations with the black frat are a bit raw
>> emotionally right now, but it's a good idea.
>>
>> Thanks,
>> Drow
>>
>> PS. By the way, that's quite possibly the very first intelligent thing
>I've
>> ever hear you articulate in, oh, about 30 years or so.
>>
>> _________________________________________________________________
>> Get your FREE download of MSN Explorer at
http://explorer.msn.com/intl.asp
>>
>>
>>
>> At Homecoming 2000, the BETA TENT had the biggest crowd by far. Stay
>connected and consider a future homecoming BETA reunion. It's
>incredible...forget the 20 years in between...everyone just seems to pick
it
>up right where they left off years ago.
>>
>>
>>
>> Your use of Yahoo! Groups is subject to
http://docs.yahoo.com/info/terms/
>>
>>
>>
>
>
>
>At Homecoming 2000, the BETA TENT had the biggest crowd by far. Stay
connected and consider a future homecoming BETA reunion. It's
incredible...forget the 20 years in between...everyone just seems to pick
it up right where they left off years ago.
>
>
>
>Your use of Yahoo! Groups is subject to http://docs.yahoo.com/info/terms/
>
>
>
Join 18 million Eudora users by signing up for a free Eudora Web-Mail
account at http://www.eudoramail.com
At Homecoming 2000, the BETA TENT had the biggest crowd by far. Stay
connected and consider a future homecoming BETA reunion. It's
incredible...forget the 20 years in between...everyone just seems to pick
it up right where they left off years ago.
Your use of Yahoo! Groups is subject to http://docs.yahoo.com/info/terms/
------------------------ Yahoo! Groups Sponsor ---------------------~-->
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At Homecoming 2000, the BETA TENT had the biggest crowd by far. Stay connected and consider a future homecoming BETA reunion. It's incredible...forget the 20 years in between...everyone just seems to pick it up right where they left off years ago.
Your use of Yahoo! Groups is subject to http://docs.yahoo.com/info/terms/ |
what do you guys think about this one? Jay, we have talked about them before I think. Can I get a response in order to put this away or pursue?
thanks,
Kim
-----Original Message-----
From: [email protected]@ENRON [mailto:[email protected]]
Sent: Wednesday, August 01, 2001 1:57 PM
To: Ward, Kim S (Houston)
Cc: [email protected]; [email protected]
Subject: Yuba City Cogen 5 yr gas deal
Kim,
We spoke last week about a possible 5 yr gas deal for our Yuba City plant.
Below is our RFP. I'll call to discuss.
Thanks, Paul Cummins
916-996-2291 cell
916-447-5171 work
Request for Proposal ("RFP")
Yuba City Cogeneration Partners, LP
650 Bercut Drive, Suite C
Sacramento, CA 95814
Background. Yuba City Cogeneration Partners, LP ("YCC") is the owner of a 49
megawatt cogeneration facility ("Facility") in Yuba City, California. YCC
sells its 49 megawatts to Pacific Gas and Electric Co. ("PG&E"), an entity
that recently filed for bankruptcy protection. YCC recently entered into a
five-year, fixed-price electricity agreement with PG&E, and YCC desires to
enter into a long-term Natural Gas Supply Agreement ("NGSA") with an
appropriate supplier ("Seller") of natural gas. The NGSA shall be subject to
approval of the YCC project lenders, and YCC will only be able to enter into
the NGSA after bankruptcy court approval of the five-year, fixed-price
electricity agreement with PG&E. As a result, YCC will require a daily update
to proposals it receives (to account for varying market conditions) until it
receives all necessary approvals to enter into a final NGSA.
Term. The term sheet contemplates either a three-year natural gas supply
agreement or a five-year natural gas supply agreement. Under either term,
the starting date will be tentatively August 1, 2001, subject to the
necessary approvals.
Point(s) of Delivery. PG&E City Gate.
Annual Volumes. For the purposes of this RFP, it is assumed that the
Facility will consume monthly and annual gas volumes under one of three
different operating scenarios:
Scenario Annual Volume, mmBtu
1 1,210,000
The typical, historical daily usage at the Facility has been 6,000 mmBtu/day,
except periods of maintenance or reduction by the Facility due to the
satisfaction of capacity requirements under its power purchase agreement
("PPA") with PG&E, and the typical, monthly historical usage has been based
upon a Monday through Friday operation. Scenario 1 is indicative of plant
operations for the satisfaction of the minimum requirements of the PPA,
essentially 80%.
YCC would prefer a NGSA that is based upon annual volumes in a rolling
12-month period.
Monthly Balancing. Monthly balancing on the PG&E system shall be the
Seller's responsibility, subject to the limitations of the YCC's natural gas
transportation agreement with PG&E, and subject to the PG&E gas system rules
and tariffs. Seller shall be responsible for any gas imbalance charges
incurred on the PG&E System.
Usage Estimates. For the purpose of assisting Seller in the Nomination
process, YCC shall make usage estimates in advance and as usage occurs.
Seller should specify requested frequency of usage estimates.
Monthly True-Up. Actual usage at the Facility will almost certainly be of
some variance to the forecasted monthly gas volumes. Seller shall propose a
means of "true-ing up" the actual usage to the forecasted monthly volumes.
The ideal system of true-ing up would allow for flexibility to both YCC and
Seller ("the Parties") under the following minimum circumstances:
1. True-up of variance between forecasted usage and actual, if any.
2. If gas price volatility has created daily or other market pricing that
creates financial incentive to the Parties to curtail deliveries to the
Facility and remarket the natural gas to the spot or other market.
3. Allowance for the Facility to curtail deliveries for planned or unplanned
maintenance.
Monthly true-up may incorporate resolution of the differences between price
and volume.
Day of Nomination. The date of Nomination of daily gas volumes by the Seller
to the PG&E City Gate shall be at the option of, and as determined by Seller,
subject to the limitations of YCC's natural gas transportation agreement with
PG&E, and subject to the PG&E gas system rules and tariffs.
Maximum Daily Nomination Quantity: YCC's natural gas transportation
agreement with PG&E allows for a maximum daily nomination quantity of 9,550
MMbtu/Day.
Price. YCC seeks a NGSA that will provide a physical price hedge via three
alternative strategies. The strategies are as follows:
Strategy Price Hedge
1 Fixed price for the term.
2 Floating price, with a not-to-exceed cap.
3 Floating price, with a minimum and maximum price.
YCC acknowledges that other hedging strategies exist and may be advisable for
the NGSA. The Seller is encouraged to supply a proposal that incorporates
other strategies.
Credit and Payment Terms. YCC can offer the following credit and payment
mechanisms for the purpose of removing credit and payment concern from the
Seller:
1. Semi-Monthly Payment. Semi-Monthly payment for gas based on expected
consumption over the first fifteen (15) calendar-day period of each month,
and the expected consumption over the balance of each month via a wire from
YCC to be made one day following the receipt of payments for electrical
energy from PG&E.
2. Priority payment. YCC has an agreement with its lender that costs of fuel
shall have first priority in the waterfall of cash flows, i.e. the fuel
supplier shall be paid from project cash flows prior to the payment of all
other costs incurred, including repayment of debt, operations and maintenance
costs, management fees, etc.
RFP Response may be sent via fax to Paul Cummins @ 916-447-7602. Please call
916-447-5171 for questions. |
FYI
---------------------- Forwarded by Mark Koenig/Corp/Enron on 06/06/2000
03:57 PM ---------------------------
Jason Lindauer <[email protected]> on 06/06/2000 03:35:26 PM
To:
cc:
Subject: US Officials Dismiss Rumors Of Power Market Price Caps
By Bryan Lee
WASHINGTON (Dow Jones)--Speculation that U.S. regulators would impose
price
caps on competitive power markets sent several sector stocks into a tumble
this
week.
But officials with the U.S. Federal Energy Regulatory Commission and the
U.S.
Department of Energy Tuesday called the speculation unfounded.
"We're not discussing (price controls)," said FERC Commissioner Curtis
Hebert.
"This is the first I've heard of it," said FERC Commissioner William
Massey.
"I am not aware and have not been involved in any discussion related to
generic application of price caps," Massey said.
A senior Energy Department official dismissed a rumor that Energy
Secretary
Bill Richardson had asked FERC to consider price caps as a response to
potential power grid outages this summer.
"We have not at all talked about price caps with FERC," the Energy
Department
official said, adding: "We do not intend to get involved in that issue."
The comments came after shares of several companies active in the
converging
natural gas and power sectors took a severe hit Monday in response to
concerns
that the regulators would cap power prices, which would limit revenue from
gas-fired generation investments.
Shares of Dynegy Inc. (DYN) dropped 8.6% on Monday, while Enron Corp.
(ENE)
and El Paso Energy Corp. (EPG) saw their stocks fall 4.9% and 5%. Calpine
Corp.
(CPN) took the hardest fall, losing 12% of its share value.
Wall Street analysts attributed the sell-off to profit-taking and an
unfounded
reaction to speculation in a Prudential Securities note to investors
regarding
the potential for FERC to intervene in competitive power markets.
The June article, written by Carol Coale, a Houston-based analyst with
Prudential, said FERC "is proposing to endorse price caps on electricity to
prevent brownouts and other reliability issues."
Coale warned that this "could significantly limit the profitability" of
gas-fired generation investments by Dynegy, Enron, El Paso and Duke Energy
(DUK), which also saw share values tumble this week.
These companies developing gas-fired power plants could see their
profitability affected "if the FERC were to actually take such action,"
Coale
wrote.
(MORE) DOW JONES NEWS 06-06-00
03:24 PM- - 03 24 PM EDT 06-06-00
"My comments triggered a knee-jerk reaction," Coale said Tuesday.
"It's interesting to see how one small comment gets blown up," she said.
Coale joined other analysts Tuesday in saying investors overreacted, and
suggested that Monday's sell-off might present a good opportunity to buy the
companies' stocks.
"We do not believe the government is interested in nationwide power price
caps," said James Yannello, an analyst with PaineWebber, in a note to
investors
Tuesday.
"We see the recent pullback...as an excellent buying opportunity," Yanello
said.
Coale said the ground was laid for Monday's stock dive when Dynegy issued
a
press release Friday urging FERC "to resist the temptation to endorse price
caps."
The possibility of price caps was raised by Dynegy and others in response
to
FERC's May 17 notice seeking comments on actions the regulators can take
this
summer to assure power grid reliability.
While those comments urged the commission against considering price
controls,
the mere discussion of capping the steep spikes in power prices during
transmission grid constraints spooked investors Monday.
Massey, the FERC commissioner, noted that the commission has never imposed
price caps on the competitive wholesale power markets its regulations helped
bring about.
FERC has imposed price caps only in certain markets for "ancillary
services,"
the term used for electricity generation necessary to assure grid
reliability,
Massey said.
"The price caps at the wholesale level are few and far between, and for
the
most part are very generous," Massey said.
The grid-reliability measures FERC proposed May 17 would allow industrial
generators to sell power into the grid at prevailing market rates, or to get
paid for not using electricity, during a grid-reliability emergency, Massey
noted.
Hebert, the lone Republican commissioner who has consistently voted
against
the FERC majority Democrats in allowing the price caps, said the stock
market's
reaction this week validates his arguments against price controls.
"Investors see their opportunity to earn being inhibited by FERC," Hebert
said. "This is evidence of what I've been talking about. Price controls
consistently inhibit the market."
The stock performance of these companies will continue to be overshadowed
by
uncertainty until FERC announces its "final decision" on power grid
reliability, Coale said in a followup note to investors Tuesday.
"While we do not see a trend for the FERC to re-regulate the wholesale
electricity market, we do see a trend in its propensity to approve temporary
price caps in certain illiquid markets," Coale said.
-By Bryan Lee, Dow Jones Newswires; 202-862-6647; [email protected]
(END) DOW JONES NEWS 06-06-00
04:27 PM- - 04 27 PM EDT 06-06-00
> ______________________
> Jason M. Lindauer
> The Carson Group
> 156 W. 56th Street, 10th Fl.
> New York, NY 10019
> Phone: (212) 707-0680
> Fax: (212) 265-9813
> [email protected]
> ---------------------------------------
>
>
> |
What are your thoughts on this? Thanks. Lynn
-----Original Message-----
From: Mercaldo, Vernon
Sent: Thursday, December 06, 2001 12:45 PM
To: Bianchi, Rita; Dornan, Dari; Blair, Lynn; Kirk, Steve
Cc: Kowalke, Terry; Buchanan, John; Berger, Larry; Janzen, Randy; Linhart, Joe; Williams, Jo; Joyce, Jane
Subject: RE: OneOk Field Services November Invoice Issues
5% of MDQ daily not monthly
-----Original Message-----
From: Bianchi, Rita
Sent: Thursday, December 06, 2001 12:39 PM
To: Mercaldo, Vernon; Dornan, Dari; Blair, Lynn; Kirk, Steve
Cc: Kowalke, Terry; Buchanan, John; Berger, Larry; Janzen, Randy; Linhart, Joe; Williams, Jo; Joyce, Jane
Subject: RE: OneOk Field Services November Invoice Issues
I've talked with Vernon. I can see Dari's point. Since I will be out of town 12/11-12/12 when final allocated volumes come out, Vernon will work with Gas Logistics to do a Split Path manual, if necessary, to override the max overrun (OVA) rate with the firm rate. When I get back, I will create tariff exception(s) reflecting the manuals to keep our records straight. The MID-to-MID level tiered overrun discount will require manual review each month. If shipper flows more than 5% overrun overall on any day, discounts may have to be entered at the path level to prevent discounting more overrun than the deal permits.
Affects 2 contracts: 108437 & 108489. Tiered OVA discounts are currently entered on from several field MIDs to MID 16A, providing a discount on the first 1750/day on 108437 and 3675/day for 108489.
In practice, TAS will discount the first 1750 or 3675/day on each individual path. If 108489 flows 3000 overrun on each of 2 different MID 1- to MID 16A paths in a day, TAS will apply the discount to a total overrun volume of 6000.
Another Question: Vernon - Are you wanting to discount overrun equal to up to 5% of the contract MDQ on a daily basis, or on a monthly basis? For example, on 108489, MDQ=73,500 so 5%=3675. Is it your intention to discount only up to 3675 overrun each day, or would you discount up to 3675*30=110,250 Overrun for the month, regardless of daily flow levels?
-----Original Message-----
From: Mercaldo, Vernon
Sent: Thursday, December 06, 2001 11:55 AM
To: Dornan, Dari; Bianchi, Rita; Blair, Lynn; Kirk, Steve
Cc: Kowalke, Terry; Buchanan, John; Berger, Larry; Janzen, Randy; Linhart, Joe; Williams, Jo; Joyce, Jane
Subject: RE: OneOk Field Services November Invoice Issues
Rita,
Not to complicate things, but, they have authorized overrun on thier contract for up to 5% of the MDQ at the contract rate (demand + commodity). So there is a rate in the system for overrun as a tiered rate in the authorized overrun classification.
-----Original Message-----
From: Dornan, Dari
Sent: Thursday, December 06, 2001 11:50 AM
To: Bianchi, Rita; Mercaldo, Vernon; Blair, Lynn; Kirk, Steve
Cc: Kowalke, Terry; Buchanan, John; Berger, Larry; Janzen, Randy; Linhart, Joe; Williams, Jo; Joyce, Jane
Subject: RE: OneOk Field Services November Invoice Issues
I wouldn't want to do a discount because of "full rate equivalent" issues. I like the exception better with a note in a file or something to explain it. But I defer to Steve on this.
-----Original Message-----
From: Bianchi, Rita
Sent: Thursday, December 06, 2001 11:47 AM
To: Mercaldo, Vernon; Blair, Lynn; Kirk, Steve; Dornan, Dari
Cc: Kowalke, Terry; Buchanan, John; Berger, Larry; Janzen, Randy; Linhart, Joe; Williams, Jo; Joyce, Jane
Subject: RE: OneOk Field Services November Invoice Issues
Importance: High
Here are my 2 suggestions for the ONEOK dilemma
1) just discount Overrun down to max firm for the days when ONEOK nominated incorrectly and put an explanation of the circumstances in the Comment box.
2) I could create a Tariff Exception on the ONEOK contract for the days in question, setting the Overrun rate equal to the firm rate. Then it would not look like a discount. However, there is no way to attach a comment to an exception.
Considerations:
The Transactional report will not pick up a post-dated discount (but this isn't really a discount).
The discount (but not the exception) would show up on the 592 report - but nobody reads that, anyway.
When they nominated as max rate overrun, it got scheduled. Since they had a right to firm service, they would have been scheduled if they had nominated correctly, so they didn't really get an unfair advantage over other TI.
Steve & Dari - what do you think?
-----Original Message-----
From: Mercaldo, Vernon
Sent: Thursday, December 06, 2001 9:41 AM
To: Blair, Lynn
Cc: Kowalke, Terry; Buchanan, John; Berger, Larry; Janzen, Randy; Linhart, Joe; Williams, Jo; Joyce, Jane; Bianchi, Rita
Subject: OneOk Field Services November Invoice Issues
Lynn,
Earlier this month, I noticed that OneOk Field Services incorrectly nominated 100% of their firm commodity as overrun. I pointed this out to Joe Linhart and he got OneOk to correct it for the balance of the month. Joe informed me that for the activity that had already been scheduled as overrun prior to that date couldn't be changed without a lot of work and it would be easier for me just to put in an overrun discount to get the invoice to come out correctly. Since rates are directly linked to our publicly available FERC mandated reporting, I did not think that doctoring our rates would be the best solution either.
Do you have an idea on another way to correct this or of the two options we have which do you think is the best way to correct this before the commodity invoices go out on the 10th?
Thanks!
Vernon |
FYI.
Congrats on your new baby!
Kay
---------------------- Forwarded by Kay Mann/Corp/Enron on 06/06/2000 10:25
AM ---------------------------
Enron North America Corp.
From: Kay Mann 06/06/2000 03:58 AM
To: Steve Irvin/HOU/ECT@ECT, Peggy Banczak/HOU/ECT@ECT, Jeff
Blumenthal/HOU/ECT@ECT, [email protected]
cc:
Subject: RE: Letter agreement
Here's the latest from GE.
When I spoke to Rob Stevens, he had a question about whether Mitsui needed to
review the final drafts of the GE agreements. I don't know the resolution of
that issue.
As you know, the current arrangement with GE requires payment within 3 days
of signing of the contracts, which means we have to be prepared to assign the
contract, then wire the money from EEIM to Mitsui immediately so that Mitsui
can pay GE, and GE can refund ENA. Has EEIM been funded yet and has Mitsui
bought in on the payment plan?
I do not know the status of the tax issues raised by Jeff. I would also like
to make sure that Jeff agrees with the mechanism of superseding the prior
agreement with GE.
Kay
---------------------- Forwarded by Kay Mann/Corp/Enron on 06/06/2000 09:54
AM ---------------------------
[email protected] on 06/06/2000 09:47:54 AM
To: [email protected]
cc: [email protected], [email protected],
[email protected], [email protected],
[email protected]
Subject: RE: Letter agreement
Kay,
I'm faxing to you the documents highlighted in RED, below.
So, it looks like we need to supercede these documents, along with the
assignment and assumption agreement.
I believe the entities I mentioned yesterday are still applicable.
If you have a different opinion, let me know.
Give me a call at 518-385-7722, and let's get the documents in condition to
be signed today or tomorrow.
Regards,
Jeff Smith
-----Original Message-----
From: [email protected] [mailto:[email protected]]
Sent: Tuesday, June 06, 2000 3:44 AM
To: [email protected]
Cc: [email protected]; [email protected];
[email protected]; [email protected];
[email protected]; [email protected]
Subject: RE: Letter agreement
Thank you. That would be helpful.
Kay
[email protected] <mailto:[email protected]> on 06/06/2000
07:28:24 AM
To: [email protected] <mailto:[email protected]> ,
[email protected] <mailto:[email protected]>
cc: [email protected] <mailto:[email protected]> ,
[email protected] <mailto:[email protected]> ,
[email protected] <mailto:[email protected]> ,
[email protected] <mailto:[email protected]> ,
[email protected] <mailto:[email protected]>
Subject: RE: Letter agreement
The "MOU" consists of the GE proposal #80518 w/ offer letter of August 12,
1998, and J.M. Bollinger's (President, Cogen Tech) acceptance letter of
August 14, 1998. These letters set the framework of the agreement,
including payment / termination schedule. Invoicing & payments began in
September, 1998..and have continued on that basis until each of the
individual contracts for Linden & "Midwest" were consummated. In Dec., 99,
at Enron's request,we allocated funds paid to date to Linden and the "third
unit". We'll forward copies of above.
Karl Siverling
-----Original Message-----
From: [email protected] <mailto:[email protected]>
[mailto:[email protected]] <mailto:[mailto:[email protected]]>
Sent: Monday, June 05, 2000 6:27 PM
To: [email protected] <mailto:[email protected]>
Cc: [email protected]; <mailto:[email protected];>
[email protected]; <mailto:[email protected];>
[email protected]; <mailto:[email protected];>
[email protected]; <mailto:[email protected];>
[email protected]; <mailto:[email protected];>
[email protected] <mailto:[email protected]>
Subject: RE: Letter agreement
The collective memory at ENA is that there wasn't an MOU per se, just the
assignment and assumption agreement.
Kay
[email protected] <mailto:[email protected]> on 06/05/2000
03:51:46 PM
To: [email protected] <mailto:[email protected]> ,
[email protected] <mailto:[email protected]>
cc: [email protected] <mailto:[email protected]> ,
[email protected] <mailto:[email protected]> ,
[email protected] <mailto:[email protected]> ,
[email protected] <mailto:[email protected]>
Subject: RE: Letter agreement
Brian,
I spoke to Karl today, and we tried to find the "MOU". All we have found
was the "Assignment & Assumption Letter" you mention. In that document, the
Enron and GE entities were; Enron Capitol & Trade Resources Corp. and
General Electric Company, respectively.
Regards,
Jeff Smith
-----Original Message-----
From: Brian D Barto [mailto:[email protected]]
<mailto:[mailto:[email protected]]>
Sent: Monday, June 05, 2000 12:45 PM
To: Kay Mann
Cc: [email protected]; <mailto:[email protected];> David
K Bargainer;
[email protected]; <mailto:[email protected];>
[email protected] <mailto:[email protected]>
Subject: RE: Letter agreement
I have a copy of the "Assignment and Assumption Letter" where GE agreed
that Cogen Technologies could assign the rights to purchase the Units to
Enron Capital and Trade Resources, Corp.
The initials at the ECT signature block is Doug Pedigo's.
I have always been a little confused when Karl Siverling talks about
voiding
an
MOU, because I do not remember ever seeing an MOU for the Cogen Tech units.
Perhaps we could ask Karl to send us a copy of the document he intends to
void to make the process easier. |
"It's a Girl" performed by Weave Dance Company
Weave Dance Co. will perform May 24-26 at 8:00 p.m. at Stages Repertory
Theater, 3201 Allen Parkway at Waugh, Call 713-52STAGE for tickets. This
performance, called "It's a Girl!" celebrates pregnancy and motherhood.
Donations to the Houston Area Women's Center will be collected at the
performance. Any of the following items are welcome: non-perishable,
pre-packaged healthy food snacks such as granola bars and boxed juices, baby
supplies such as formula, diapers, wet wipes, baby lotion, baby shampoo,
pacifiers, socks, plastic bottles, diaper bags, crib sheets for portable
cribs and swim suits and flip flops for children age 4 and older.
Star Wars: Films (May 4-25)
See all four completed films of the legendary Star Wars saga on the big
screen! The MFAH presents special editions of Episodes IV-VI and Episode I in
the newly renovated Brown Auditorium with Dolby Digital dts sound and stadium
seating.
Star Wars: Episode IV-A New Hope
Directed by George Lucas
(USA, 1977, 125 min.)
Friday, May 4, 7:30 p.m.
Saturday, May 5, 11:00 a.m.
Star Wars: Episode V-The Empire Strikes Back
Directed by Irvin Kershner
(USA, 1980, 120 min.)
Friday, May 11, 7:30 p.m.
Saturday, May 12, 11:00 a.m.
Star Wars: Episode VI-Return of the Jedi
Directed by Richard Marquand
(USA, 1983, 132 min.)
Friday, May 18, 7:30 p.m.
Saturday, May 19, 11:00 a.m.
Star Wars: Episode I-The Phantom Menace
Directed by George Lucas
(USA, 1999, 133 min.)
Friday, May 25, 7:30 p.m.
Saturday, May 26, 11:00 a.m.
Tickets go on sale at the Brown Auditorium ticket booth 30 minutes before
show time. The ticket booth is located on the lower level of the Caroline
Wiess Law building.
General admission is $5. Matinee admission (show times before 5:00 p.m.) is
$4. Enron employees with ID receive a $1 discount. Discount passes (10
admissions) are $40 for nonmembers and $35 for members. Children 5 and under
are free. Films are screened in Brown Auditorium in the museum's Caroline
Wiess Law building, 1001 Bissonnet. Free parking is available. For more
information, please call 713-639-7515 or visit our website at www.mfah.org.
Mark Your Calendars!...Bring Your Child To Work Day will be Friday, June
29th. More details to come...See Volunteer section below to for volunteer
opportunities!
Join us in Dublin or Honolulu ----Joints in Motion is a marathon training
program for walkers and runners that is aligned with a fundraising effort for
the Arthritis Foundation - Please call for more information at
713-529-0800.
Many volunteers are needed to help with the planned activities for the Enron
Children on June 29th. If you're interested, send your name and phone
extension to workperks.enron.com.
Support KidSave and Help Miracles Happen. Every Summer.
Kidsave,s Summer Miracles Program enables orphaned children ages 5 to 11 to
travel to the US and Canada, live with families and attend day camp. The
program gives families who may be concerned about the problems of adopting
an older child a chance to meet, get to know and in the best-case scenario,
fall in love with a child. The program gives prospective parents an
opportunity to see and evaluate first-hand the challenges and rewards of
adopting an older child.
In 1999 and 2000 Kidsave and adoption agency partners placed 432 children -
96 percent of children who participated in the program. Generally, 85 to 90
percent of children who participate in the program find homes easily through
the program. The remaining 10 to 15 percent require more work.
Kidsave believes every child deserves a family. We are committed to placing
all children who participate in the Summer Miracles Program in permanent
families or family-like environments.
We are looking for families to host children, and for others who want to
help us make the camp program happen for these 250 children. As a
non-profit organization, Kidsave depends on donations to raise the money to
bring these children here and find them families. Please call Tonya Hoppe at
281.286.8948 or [email protected] to get involved in Houston,s Kidsave
program.
Enron and Kidventure Camps are proud to bring you Camp Enron Summer 2001.
Celebrating our third year, Camp Enron will once again be providing summer
camp for children, ages 5-13, of Enron employees and contractors.
This year, camp will be May 29-August 10. Ten, one-week sessions will be
available and families may choose to attend any or all sessions. Each camp
week is Monday through Friday.
The cost is $150 per week and includes all transportation, field trips and
activities. A deposit of $50 per week is all that is needed to reserve your
sessions. The deadline to register is Monday, May 21.
To register, log on to: http://www.kidventurecamp.com/camp_enron.htm.
Spaces are limited.
Enron parents simply ride to work with their children and check them in to
the Energizer in the morning with the Camp Enron Team. Enron Campers are
loaded on Coach USA Buses and transported to our nearby camp. At the end of
the day campers are brought back to the Energizer for parents to check out.
It's that easy!
For more information please contact:
web site: www.kidventurecamp.com
call Kidventure: 713.960.8989
e-mail: [email protected]
Have News to Share?
To post news or events in Enron In Action, please e-mail your information to
[email protected]
no later than 12:00 noon the Thursday prior to the next Monday,s mailing. |
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-----Copyright 2001 INO.com. All Rights Reserved------ |
-----Original Message-----
From: Sonny Loria [mailto:[email protected]]
Sent: Friday, October 12, 2001 10:45 AM
To: Andre Almeida (E-mail); Bill Bain (E-mail); Dario Facca (E-mail);
Darren Grelowski (E-mail); Gene Roy Loria (E-mail); Jeff Shafer
(E-mail); Kevin Kelm (E-mail); Rohn Meyer (E-mail); Sasha Blaskovich
(E-mail); John Landry (E-mail)
Subject: FW: Let's see if you send this back
-----Original Message-----
From: John Landry [mailto:[email protected]]
Sent: Thursday, October 11, 2001 8:50 PM
To: Undisclosed-Recipient:;
Subject: Let's see if you send this back
>----- Original Message -----
>From: Jessica Abraham
>Sent: Wednesday, September 19, 2001 9:05 PM
>Subject: Lets see if you send this back
>
>
>Lets see if you send this back
>
>One day when I was a freshman in high school, I saw
>a kid from my class was walking home from school. His
>name was Kyle. It looked like he was carrying all of his
>books. I thought to myself, "Why would anyone bring
>home all his books on a Friday? He must really be a
>nerd."
>I had quite a weekend planned (parties and a football
>game with my friends tomorrow afternoon), so I
>shrugged my shoulders and went on.
>As I was walking, I saw a bunch of kids running toward
>him. They ran at him, knocking all his books out of his
>arms and tripping him so he landed in the dirt. His glasses
>went flying, and I saw them land in the grass about ten
>feet from him. He looked up and I saw this terrible
>sadness in his eyes.
>My heart went out to him. So, I jogged over to him and
>as he crawled around looking for his glasses, and I saw
>a tear in his eye. As I handed him his glasses, I said,
>"Those guys are jerks. They really should get lives." He looked at me
>and
>said, "Hey thanks!" There was a big smile on his face. It was one of
>those smiles that showed real gratitude.
>I helped him pick up his books, and asked him where
>he lived. As it turned out, he lived near me, so I asked him
>why I had never seen him before. He said he had gone to private school
>before now.
>I would have never hung out with a private school kid
>before. We talked all the way home, and I carried some
>of his books. He turned out to be a pretty cool kid. I
>asked him if he wanted to play a little football with my
>friends. He said yes. We hung out all weekend and the
>more I got to know Kyle, the more I liked him, and my
>friends thought the same of him.
>Monday morning came, and there was Kyle with the
>huge stack of books again. I stopped him and said,
>"Boy, you are gonna really build some serious muscles
>with this pile of books everyday!" He just laughed and
>handed me half the books.
>Over the next four years, Kyle and I became best
>friends. When we were seniors, we began to think
>about college. Kyle decided on Georgetown, and I
>was going to Duke. I knew that we would always be
>friends, that the miles would never be a problem. He
>was going to be a doctor, and I was going for business
>on a football scholarship.
>Kyle was valedictorian of our class. I teased him all the
>time about being a nerd. He had to prepare a speech for graduation.
>I was so glad it wasn't me having to get up there and
>speak. Graduation day, I saw Kyle. He looked great. He
>was one of those guys that really found himself during high school. He
>filled out and actually looked good in glasses.
>He had more dates than I had and all the girls loved him.
>Boy, sometimes I was jealous.
>Today was one of those days. I could see that he was
>nervous about his speech. So, I smacked him on the back
>and said, "Hey, big guy, you'll be great!" He looked at me
>with one of those looks (the really grateful one) and smiled. "Thanks,"
>he
>said.
>As he started his speech, he cleared his throat, and
>began. "Graduation is a time to thank those who helped
>you make it through those tough years. Your parents,
>your teachers, your siblings, maybe a coach...but mostly
>your friends. I am here to tell all of you that being a
>friend to someone is the best gift you can give them. I
>am going to tell you a story."
>I just looked at my friend with disbelief as he told the
>story of the first day we met. He had planned to kill
>himself over the weekend. He talked of how he had
>cleaned out his locker so his Mom wouldn't have to do it later and was
carrying his stuff home.
>He looked hard at me and gave me a little smile.
>"Thankfully, I was saved. My friend saved me from
>doing the unspeakable."
>I heard the gasp go through the crowd as this handsome, popular boy
>told
>us all about his weakest moment. I saw
>his Mom and dad looking at me and smiling that same
>grateful smile. Not until that moment did I realize it's depth.
>Never underestimate the power of your actions. With
>one small gesture you can change a person's life. For
>better or for worse.
>God puts us all in each other's lives to impact one another
>in some way.
>Look for God in others.
>You now have two choices, you can:
>1) Pass this on to your friends or
>2) Delete it and act like it didn't touch your
>heart.
>As you can see, I took choice number 1. "Friends are
>angels who lift us to our feet when our wings have
>trouble remembering how to fly."
>There is no beginning or end..Yesterday is history.
>Tomorrow is mystery. Today is a gift.
>It's National Friendship Week. Show your friends
>how much you care. Send this to everyone you
>consider a FRIEND. If it comes back to you, then
>you'll know you have a circle of friends.
>WHEN YOU RECEIVE THIS LETTER, YOU'RE REQUESTED TO SEND IT TO AT LEAST
>10
>PEOPLE, INCLUDING THE PERSON WHO SENT
>IT TO YOU.
John Landry
Westbeat Music Promotions
www.westbeatdj.com |
---------------------- Forwarded by Jeffrey Keeler/Corp/Enron on 09/06/2000
06:39 PM ---------------------------
From: Jeffrey Keeler 09/06/2000 06:28 PM
To: James Prentice/GPGFIN/Enron@ENRON, Stanley Horton/Corp/Enron@Enron,
Shelley Corman/ET&S/Enron@ENRON, Ted Robinson/HOU/ECT@ECT, Michael A
Robison/HOU/ECT@ECT, J Mark Metts/NA/Enron@Enron, Dwight
Larson/Corp/Enron@ENRON, Michael Terraso/OTS/Enron@ENRON, Marc
Phillips/OTS/Enron@ENRON, Jim Peterson/OTS/Enron@ENRON, Susan
Worthen/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Joe
Kolb/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Stacey Bolton/HOU/EES@EES, Sandra
McCubbin/SFO/EES@EES, Richard Shapiro/HOU/EES@EES, James D
Steffes/HOU/EES@EES, Rob Bradley/Corp/Enron@ENRON, Joe Allen/HOU/EES@EES, Joe
Hillings/Corp/Enron@ENRON, Mark Palmer/Corp/Enron@ENRON, John
Wodraska/HOU/AZURIX@AZURIX, Diane Bazelides/HOU/AZURIX@AZURIX, Jonalan
Page/PDX/ECT@ECT, Thomas Krueger/HOU/ECT@ECT, Clayton Seigle/HOU/ECT@ECT,
Chris Long/Corp/Enron@ENRON
cc:
Subject: Senate Environment Committee Markup Tomorrow (9/7)
On Thursday 9/7 (tomorrow, 9 a.m.), the Senate Environment and Public Works
Committee plans to mark up S. 2962, Chairman Bob Smith's legislation that
would remove the oxygenate mandate and phase out MTBE. It is expected to
be a very contested markup, with several Republicans and (hopefully) some
Democrats opposing the legislation on various grounds.
The basic provisions of the "Manager's Amendment" (the latest bill version
that will be the operative vehicle at the markup) include:
1) Removal of the federal mandate that 2% of RFG contain oxygenates --
states apply for a waiver
Comment: a state would need to do nothing but apply to have a waiver
approved. Ethanol does not like this provision, because it harms them too,
but the new "clean fuel" mandate (below) makes up for that.
2) A phase out of MTBE by 2004.
Comment: rather than setting year-by-year goals, it sets a date certain for
phase out in 2004 -- this is probably preferable for producers to transition
to making other additives, giving them 4 years to make the necessary
arrangements.
3) Environmental "Anti backsliding" language
-- air toxics must be 27.5% better than a baseline
-- criteria pollutants (this is still in development, drafted by NRDC) -
sets a 5 year baseline period and then looks at that baseline and
determines whether further action is warranted.
Comment: this is a weak anti-backsliding provision, that will weaken MTBE's
ability to hold on to market share on the basis that other additives are not
meeting environmental criteria.
4) Clean Alternative Fuels Program: a mandate for clean, renewable fuels
(mainly ethanol), ramps up over 10 years. It is estimated that the current
1.2 billion gallon market for ethanol would expand to 4.5 billion gallons in
that 10 year period.
Comment: This provision is the one that is causing most of the problems --
refiners, Highway Funding advocates (road builders, etc.) do not want to see
ethanol get such a boost. Senator Jim Inhofe (the Clean Air subcommittee
chairman) will vigorously try to remove this provision. In addition, ADM,
Cargil and the other big ethanol producers don't really prefer this approach
to an ethanol mandate. This may seem strange, but if there is simply an MTBE
ban with no ethanol mandate, the market for ethanol production would increase
quickly to 2.8 billion gallons, While this is smaller than the 10 year
number of 4.5 billion gallons envisioned by the bill's mandate, the larger
producers would be able to get a greater share and more money up front if
there is no mandate. If the mandate stays in place, there will be more
opportunity for smaller companies to build additional ethanol capacity to
meet the eventual 4.5 bg market.
5) LUST funding: releases more LUST money and allows it to be used for
remediation of MTBE spills.
There are numerous amendments planned on various issues, many of which deal
with the ethanol mandate. At this point, refiners (API, NPRA) are opposing
the bill over ethanol issues. MTBE producers (thorough the OFA) are
opposing the bill on a number of grounds and working with certain Republican
Senators (Kay Bailey Hutchison, Bob Bennett) to develop amendments that would
make the bill less acceptable.
Enron has not directly opposed the legislation, but is relying on OFA to do
most of that work. We have focused on issues related to "transition."
Stranded cost amendments may be offered, but are not expected to have much
traction. We were successful in getting Chairman Bob Smith to agree that if
this bill is passed by the Committee, they will address issues of transition
for MTBE producers before the bill goes to the Senate floor. He will engage
in a "colloquy" with Senator Kay Bailey Hutchison at the end of the markup in
which he will commit to work on these issues with Hutchison and other MTBE
supporters. A transition package could include tax relief or other
incentives for the production of other additives. In another recent
positive development, we have received signals that Democrats Tom Daschle and
Max Baucus will also support efforts to develop a MTBE transition package
before a bill reaches the floor. This is largely in an effort to neutralize
some of the MTBE industry opposition to a bill on the Senate floor.
I will keep you posted as developments occur, and likely send a report later
in the afternoon tomorrow. Please let me know if you have questions.
Jeff Keeler |
As discussed - the First Gas article. Also, I talked to Jeff & George about
Sempra/SCEG and both said it was completely executed. We are booking the
deal and will be prepared to release income next Weds. or Thurs. Let me know
if you have any questions.
---------------------- Forwarded by Brent A Price/HOU/ECT on 12/22/2000 09:23
AM ---------------------------
From: Scott Earnest 12/18/2000 07:45 AM
To: Brent Price
cc:
Subject: FGPC 2001 Fuel Consumption
Let's discuss when you get a chance.
Scott
---------------------- Forwarded by Scott Earnest/HOU/ECT on 12/18/2000 07:48
AM ---------------------------
John L Nowlan
12/18/2000 07:10 AM
To: Scott Earnest/HOU/ECT@ECT
cc:
Subject: FGPC 2001 Fuel Consumption
Just when you thought it was safe
---------------------- Forwarded by John L Nowlan/HOU/ECT on 12/18/2000 07:10
AM ---------------------------
John Chismar
12/17/2000 08:35 PM
To: John L Nowlan/HOU/ECT@ECT
cc:
Subject: FGPC 2001 Fuel Consumption
John, didn't see you copied on this but this basically shuts us out. This is
going to be worse than what we had already forecasted at 250mb/month.
Essentially, what I take from this message is that they are agreeing to cut
the highest cost power out ( which is the Santa Rita power plant) and it is
only going to run @ 3mbd or less. So instead of 250mb month that I had told
Scott Earnest it will now only be more like 100mb.
John
---------------------- Forwarded by John Chismar/SIN/ECT on 12/18/2000 10:29
AM ---------------------------
Michael L Brown@ENRON
12/15/2000 11:01 PM
To: Scott Earnest/HOU/ECT@ECT, John L Nowlan/HOU/ECT@ECT
cc: John Chismar/SIN/ECT@ECT, Matthias Lee/SIN/ECT@ECT, Robert C
Williams/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Victor
Santos/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
Subject: FGPC 2001 Fuel Consumption
Scott, John,
See article below dated December 15-16, 2000 from Manila, Philippines
and pay particular attention to paragraphs 6, 7 and 9. As you can see,
Meralco (the power purchaser from FGPC) and the National Power Corporation
(Napocor) have agreed to a minimal dispatch of the FGPC Sta. Rita power plant
until December 26, 2001. This would place the liquid fuel deliveries for the
upcoming year at about 10% or less of the originally anticipated 31kbd, so
this should certainly be addressed in our 2001 budget.
Regards,
Mike
---------------------- Forwarded by Michael L Brown/Corp/Enron on 12/15/2000
08:56 AM ---------------------------
Victor Santos@ENRON_DEVELOPMENT
12/14/2000 09:41 PM
To: Michael L Brown/Corp/Enron@ENRON, David A Terlip/Corp/Enron@Enron
cc:
Subject: News Article - Ano Ba Yan!!!
MANILA, PHILIPPINES | Friday-Saturday, December 15-16, 2000
Meralco settles access dispute with Napocor
With a new agreement signed Tuesday night, power distribution firm Manila
Electric Company (Meralco) and state-owned National Power Corporation
(Napocor) finally settled their dispute over alleged violations on "open
access transmission."
As a result, Meralco paid Napocor 684 million Philippine pesos ($13.661
million at PhP50.071=$1), representing its unpaid electricity bills for the
June 26 to July 25 billing period.
Meralco's bills actually amounted to PhP5.3 billion ($105.85 million), but it
paid only PhP4.6 billion ($91.87 million), claiming it incurred unnecessary
losses when the state utility failed to allow the output of its independent
power producer (IPPs) to come on stream. Meralco claimed Napocor should
absorb these losses.
Meralco paid about PhP20 million ($399,433) in accrued interests as Napocor,
for its part, claimed it failed to meet its own obligations because of
Meralco's non-payment.
In an interview with BusinessWorld, Napocor treasurer Laura F. Salandanan
said Meralco's payment eased the pressure on Napocor's very tight cash flows
as December always mean bigger debt servicing.
Under the letter of agreement signed by Napocor president Federico E. Puno
and Meralco executive vice-president and chief operating officer Jesus P.
Francisco, the full capacity of Meralco's IPP, particularly the 440-megawatt
(MW) Mauban coal-fired power plant operated by the Quezon Power (Phils.),
Ltd., will be able to come on stream.
On the other hand, minimal dispatch will be used for the 1,000-MW Sta. Rosa
combined cycle power plant operated by First Gas Power Corp.
In a separate interview, Napocor's department manager of utility economics
Jesusito Sulit said the two parties agreed to such a compromise since energy
from the Sta. Rita plant is higher because it uses condensate fuel in the
absence of the natural gas. Electricity produced from coal-fired power
plants, on the other hand, is less expensive.
Since the natural gas that will be fed to the Sta. Rita plant will come only
by January 2002, the agreement will be implemented retroactive to October 26,
2000 to December 26, 2001.
Mr. Sulit said Napocor will replace the Sta. Rita output by providing Meralco
with less expensive power and, at the same time, offer a discount rate of as
much as PhP1.16 per kilowatt hour (kWh).
This discount, Mr. Sulit said, will mean savings for Meralco because it no
longer needs to pay for the fuel requirements of Sta. Rita plant. Under the
power purchase deal between the two firms, Meralco spends for fuel used by
the plant.
First Gas, for its part, will still receive payments despite the unutilized
capacity of its plants because of the presence of the take-or-pay agreement.
For Napocor, it will be assured of a captured market and consequently
additional revenues in terms of higher energy sales.
Mr. Sulit said consumers are also expected to benefit not necessarily from a
much lower power rates but from an assurance that electricity bills will not
increase as much. |
Lauri
There have been some fluctuations @ Dupont meter # 1266 - I believe Conoco
transport is only business there - see below
Is the transport set up to take these small swings?
Lee
From: Robert E Lloyd 08/21/2000 02:34 PM
To: Lee L Papayoti/HOU/ECT@ECT
cc: Gary A Hanks/HOU/ECT@ECT, Daren J Farmer/HOU/ECT@ECT, Pat
Clynes/Corp/Enron@ENRON, Sherlyn Schumack/HOU/ECT@ECT, Jackie
Young/HOU/ECT@ECT
Subject: Re: Meter #: 1266 ; August 2000 / Allocation Exception
Conoco has nominated 5.0/d at this meter. Conoco transport can be allocated
the entire meter flow for the days in which the meter flow
exceed 5.0mm because they are the only party doing business at the meter.
HPL may also be able to extract a sell for this overage which is why I
wanted you to be aware of the daily activity thus far.
---------------------- Forwarded by Robert E Lloyd/HOU/ECT on 08/21/2000
01:57 PM ---------------------------
From: Lee L Papayoti on 08/21/2000 01:44 PM
To: Robert E Lloyd/HOU/ECT@ECT
cc: Sherlyn Schumack/HOU/ECT@ECT, Anita Luong/HOU/ECT@ECT, Daren J
Farmer/HOU/ECT@ECT, Gary A Hanks/HOU/ECT@ECT, Pat Clynes/Corp/Enron@ENRON
Subject: Re: Meter #: 1266 ; August 2000 / Allocation Exception
why are these volumes flowing?
From: Robert E Lloyd 08/21/2000 01:36 PM
To: Lee L Papayoti/HOU/ECT@ECT
cc: Sherlyn Schumack/HOU/ECT@ECT, Anita Luong/HOU/ECT@ECT, Daren J
Farmer/HOU/ECT@ECT, Gary A Hanks/HOU/ECT@ECT, Pat Clynes/Corp/Enron@ENRON
Subject: Re: Meter #: 1266 ; August 2000 / Allocation Exception
Should I roll this deal to cover August 2000 activity ?
Volumes todate are as follows: 82mm 8/16
85mm 8/17
65mm 8/18
57mm 8/19
60mm 8/20
Sitara ticket #: 363514
These small meter flows are causing allocation exceptions for August.
---------------------- Forwarded by Robert E Lloyd/HOU/ECT on 08/21/2000
01:27 PM ---------------------------
From: Robert E Lloyd 08/11/2000 03:17 PM
To: Howard B Camp/HOU/ECT@ECT, Rita Wynne/HOU/ECT@ECT
cc: Pat Clynes/Corp/Enron@ENRON, Daren J Farmer/HOU/ECT@ECT
Subject: Re: Meter #: 1266 ; July 2000 Activity / Allocation Exception
fyi
---------------------- Forwarded by Robert E Lloyd/HOU/ECT on 08/11/2000
03:16 PM ---------------------------
From: Robert E Lloyd on 08/11/2000 03:16 PM
To: Lee L Papayoti/HOU/ECT@ECT
cc:
Subject: Re: Meter #: 1266 ; July 2000 Activity / Allocation Exception
The volumes are as follows: July 1st 414 mmbtu
July 31 12mmbtu
Total : 426 mmbtu's
Also, the Sitara deal # is : 363514
From: Lee L Papayoti on 08/11/2000 02:02 PM
To: Robert E Lloyd/HOU/ECT@ECT
cc: Howard B Camp/HOU/ECT@ECT, Pat Clynes/Corp/Enron@ENRON
Subject: Re: Meter #: 1266 ; July 2000 Activity / Allocation Exception
Please set up a ticket priced at Gas Daily Houston Ship Channel midpoint
minus $0.03
Also, can you let me know the exact volumes in question on July 1 and July
31? Dorcheus wants to know. Me too.
Thanks
Lee
To: Lee L Papayoti/HOU/ECT@ECT
cc: Howard B Camp/HOU/ECT@ECT, Pat Clynes/Corp/Enron@ENRON
Subject: Re: Meter #: 1266 ; July 2000 Activity / Allocation Exception
Just a reminder that "allocation close" is Monday, August 14th.
A Sitara ticket is needed to set up an Acctg. Arrangement which will
eliminate the allocation exception for meter # 981266
{Victoria Station # 2/ Brandywine}.
From: Lee L Papayoti on 08/09/2000 03:33 PM
To: Robert E Lloyd/HOU/ECT@ECT
cc:
Subject: Re: Meter #: 1266 ; July 2000 Activity / Allocation Exception
I'll get you a price tomorrow when I meet with him ...
From: Robert E Lloyd 08/09/2000 12:50 PM
To: Lee L Papayoti/HOU/ECT@ECT
cc: Daren J Farmer/HOU/ECT@ECT, Pat Clynes/Corp/Enron@ENRON, Rita
Wynne/HOU/ECT@ECT, Howard B Camp/HOU/ECT@ECT
Subject: Meter #: 1266 ; July 2000 Activity / Allocation Exception
I spoke with Bob Dorcheus, Brandywine about this issue and he suggest you
and he get together and agree on a
price because the gas flowed into the plant.
This gas flowed without a nomination.
---------------------- Forwarded by Robert E Lloyd/HOU/ECT on 08/09/2000
12:47 PM ---------------------------
Enron North America Corp.
From: Gary A Hanks 08/09/2000 11:27 AM
To: Robert E Lloyd/HOU/ECT@ECT
cc: Earl Tisdale/HOU/ECT@ECT, Pat Clynes/Corp/Enron@ENRON, Rita
Wynne/HOU/ECT@ECT, Howard B Camp/HOU/ECT@ECT
Subject: Meter #: 1266 ; July 2000 Activity / Allocation Exception
The volumes on meter #1266 for 7/1/00 and 7/31/00 are valid gas flow. 7/1/00
volumes are carry over from June activity (meter was shut in a little after
9:00 AM on 7/1/00). 7/31/00 volumes were caused by the plant bringing on
the meter before 9:00 AM on 8/1/00.
If you have any questions please call. 36449.
Thanks
Gary H
---------------------- Forwarded by Gary A Hanks/HOU/ECT on 08/09/2000 11:18
AM ---------------------------
From: Robert E Lloyd 08/09/2000 11:17 AM
To: Gary A Hanks/HOU/ECT@ECT, Earl Tisdale/HOU/ECT@ECT
cc: Pat Clynes/Corp/Enron@ENRON, Rita Wynne/HOU/ECT@ECT, Howard B
Camp/HOU/ECT@ECT
Subject: Meter #: 1266 ; July 2000 Activity / Allocation Exception
Please verify the volume on Meter #: 1266 for July 1st & 31st are valid gas
flow.
Brandywine did not nominate any activity at this meter for July 2000. |
Your review and approval of the following product types in the EOL
Datamanager is needed (for directions on approval , please see steps for
approval at the bottom of this e-mail). If you have any questions please call
me at ext. 58986.
******** DO NOT APPROVE PRODUCT TYPES BETWEEN THE HOURS OF 6AM -
11AM***********
Traders: Harry Arora and Robert Stalford
Product
Names: US East Power Phy Option Call (2077)
US East Power Phy Option Put (2078)
US Pwr Phy Opt PJM-W EPXXX Jul01 USD/MWh
A US Power Transaction with Enron Power Marketing, Inc., under which the Put
Option Buyer has the right, but not the obligation, to elect on the Exercise
Date to schedule and deliver, and the Put Option Seller would have the
obligation to schedule, receive and pay for at the Strike Price, a quantity
of firm energy equal to the Hourly Quantity for each applicable hour during
the term of the transaction. The Strike Price shall be as set forth in the
Product description on the Website. As consideration for this right, the Put
Option Buyer shall be required to pay to the Put Option Seller the Premium
which shall be equal to the product of (i) the price submitted by
Counterparty via EnronOnline, multiplied by (ii) the total number of hours
during the term of the transaction, multiplied by (iii) the Hourly Quantity.
The Payment Date for the Premium shall be within two (2) business days of the
Transaction Date. The Option style and type shall be a monthly European Put
("EP").
The transaction is for the applicable hours as set forth herein on each
Delivery Day for the Effective Date 01 Jul 2001 to the Termination Date 31
Jul 2001.
The transaction is for delivery or receipt of energy at the PJM Western Hub.
The price is quoted in US Dollars per unit of volume, which will be the
Contractual Currency. The unit of measure against which the price is quoted
shall be megawatt-hours (MWh) and the quantity shown shall be in MW's
delivered in each applicable hour for the duration of the Transaction (the
"Hourly Quantity').
In order to exercise the Option, the Option Buyer shall provide telephonic
notice to the Option Seller prior to 10:00 am (Eastern Prevailing Time) on
the Exercise Date. The Exercise Date shall be the second penultimate NERC
business day of the month prior to the month in which the term commences.
The transaction is for on-peak ("Peak") hours on each Delivery Day beginning
with the hour ending 0800 (7:00 am) and concluding with the hour ending 2300
(11:00 pm) Eastern Prevailing Time. "Delivery Day" means a day during the
term of the transaction that is a Monday, Tuesday, Wednesday, Thursday, or
Friday, excluding any day that is a NERC holiday.
US Pwr Phy Opt PJM-W ECXXX Jul01 USD/MWh
A US Power Transaction with Enron Power Marketing, Inc., under which the Call
Option Buyer has the right, but not the obligation, to elect on the Exercise
Date to schedule, receive and pay for at the Strike Price, and the Call
Option Seller would have the obligation to schedule and deliver, a quantity
of firm energy equal to the Hourly Quantity for each applicable hour during
the term of the transaction. The Strike Price shall be as set forth in the
Product description on the Website. As consideration for this right, the Call
Option Buyer shall be required to pay to the Call Option Seller the Premium
which shall be equal to the product of (i) the price submitted by
Counterparty via EnronOnline, multiplied by (ii) the total number of hours
during the term of the transaction, multiplied by (iii) the Hourly Quantity.
The Payment Date for the Premium shall be within two (2) business days of the
Transaction Date. The Option style and type shall be a monthly European Call
("EC").
The transaction is for the applicable hours as set forth herein on each
Delivery Day for the Effective Date 01 Jul 2001 to the Termination Date 31
Jul 2001.
The transaction is for delivery or receipt of energy at the PJM Western Hub.
The price is quoted in US Dollars per unit of volume, which will be the
Contractual Currency. The unit of measure against which the price is quoted
shall be megawatt-hours (MWh) and the quantity shown shall be in MW's
delivered in each applicable hour for the duration of the Transaction (the
"Hourly Quantity').
In order to exercise the Option, the Option Buyer shall provide telephonic
notice to the Option Seller prior to 10:00 am (Eastern Prevailing Time) on
the Exercise Date. The Exercise Date shall be the second penultimate NERC
business day of the month prior to the month in which the term commences.
The transaction is for on-peak ("Peak") hours on each Delivery Day beginning
with the hour ending 0800 (7:00 am) and concluding with the hour ending 2300
(11:00 pm) Eastern Prevailing Time. "Delivery Day" means a day during the
term of the transaction that is a Monday, Tuesday, Wednesday, Thursday, or
Friday, excluding any day that is a NERC holiday.
==============================================================================
STEPS FOR APPROVAL:
click the START button
select PROGRAMS
select TEST APPLICATIONS
select ENRONONLINE CLUSTER(PROD)
PROCEED WITH USUAL LOGIN/PASSWORD
click the Enron Online Production Cluster "START" button
select EnronOnLine (this is the EOL Datamanager)
PROCEED WITH EOL LOGIN/PASSWORD
click on the "+" for EnronOnLine
click on the "+" for Product Types
click on the "+" for "Partially Approved"
select the product requiring review as stated in e-mail above
Right "mouse" click on "properties" to view product set-up |
VERY INTERESTING...
---------------------- Forwarded by Ceci Twachtman/HOU/EES on 11/10/2000
05:23 PM ---------------------------
David Haug@ENRON_DEVELOPMENT
11/10/2000 03:19 PM
To: [email protected], Ceci Twachtman@Enron Communications
cc:
Subject: Article
---------------------- Forwarded by David Haug/ENRON_DEVELOPMENT on
11/10/2000 03:16 PM ---------------------------
Steven Haug@ENRON
11/10/2000 11:07 AM
To: Larry Abbott/OTS/Enron@ENRON, Mike Ames/OTS/Enron@Enron, Mike
Bonnstetter/ET&S/Enron@ENRON, Max Brown/OTS/Enron@Enron, [email protected],
John Gormley/ET&S/Enron@Enron, Jeff Hamlin/ET&S/Enron@Enron, Danny
Holguin/ET&S/Enron@Enron, Steve Tarter/ET&S/Enron@Enron, Al
Vandarwarka/ET&S/Enron@Enron, Jon Wernette/ET&S/Enron@Enron, Norma
Nusz-Chandler/NPNG/Enron@ENRON, Virgil Pfennig/NPNG/Enron@ENRON, Gary
Numedahl/ET&S/Enron@ENRON, [email protected], David
Haug/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, [email protected], [email protected],
[email protected], [email protected], [email protected],
[email protected], [email protected], Marlene McCoy/ET&S/Enron@ENRON,
[email protected], John W Rose/ET&S/Enron@ENRON, [email protected],
Norm Ruiz/ET&S/Enron@ENRON, [email protected], Neta Zitnik/ET&S/Enron@ENRON
cc:
Subject: Article
DO YOU THINK HE WOULD??
------------------------------------------------------------------------------
--
Al Gore and
Constitution
------------------------------------------------------------------------------
--
, 2000 WorldNetDaily.com
Ever since I saw Al Gore give that uncharacteristically statesman-like speech
defending the integrity of the Electoral College system under the
Constitution of the United States, I've been scratching my head trying to
figure it out.
Who was this guy? Was this the same Al Gore who has demonstrated -- time and
time again -- so little respect for the Constitution during the last eight
years? Why was he giving up on the idea of a challenge to the Electoral
College, when it seemed many in his camp were banking on that as their last
line of defense?
Well, I think I have figured it out. Actually, there are two possibilities.
The first thought that came to me was that this was Al Gore's
"Don't-watch-the-man-behind-the-curtain speech." While he was extolling the
virtues of the Constitution, his minions in Florida -- from Bill Daley to
Jesse Jackson -- were busy subverting it by any means necessary. It was Al
Gore's way of establishing public plausible deniability. He stood above the
fray, while his cohorts did the dirty work.
But, more recently, another thought has occurred to me -- a darker, more
sinister thought. I hope I am wrong. I pray that, this time, I am
overestimating the deviousness of Al Gore. But that, of course, is always a
difficult task.
Think, for a moment, why Al Gore would suddenly be reading and citing the
Constitution.
The answer is that, in this instance, it gives him all the power. What do I
mean?
Who is it, under the Constitution, that is specifically charged with
certifying the Electoral College votes of each state? You guessed it. The
president of the U.S. Senate, which also happens to be the vice president of
the United States. That's right. The day those Electoral College votes go to
the Senate to be counted and certified to choose the next president of these
United States, Al Gore will be holding all the cards.
"Oh, Farah," you say, "you don't think Al Gore would tamper with the results
in any way with the whole world watching, do you?"
Well, let's think about what has been happening in Florida for the last
several days. Al Gore's campaign managers have been whipping up hysteria
stating that the will of the people in that state is being subverted.
They are filing lawsuits. They are organizing marches. They are all but
accusing the Bush campaign of voter fraud.
Listen to what Bill Daley has to say: "More than 100 million Americans voted
on Tuesday and more voted for Al Gore than George Bush. Here in Florida it
also seems very likely that more voters went to the polls believing that they
were voting for Al Gore than for George Bush. If the will of the people is to
prevail Al Gore should be awarded a victory in Florida, and be our next
president of the United States."
They've decided that no matter what the actual vote count shows, Gore wins.
Now, all Gore has to do on that fateful day in the U.S. Senate is reject for
certification the Electoral College votes of Florida, and he wins the
majority and becomes president. Sorry, Bush fans. I don't think there's a
thing you can do about it other than protest, complain and stomp your feet.
Better start planning your legal strategy now. I'll bet Al Gore's transition
team is already hard at work. Barbra Streisand is probably making plans to
sing at the Inauguration. Alec Baldwin is unpacking his bags. This could be a
fait accompli. I guarantee you a counter to this bold move is not in the Bush
campaign's playbook.
The Gore campaign, still working overtime, has laid the groundwork for the
challenge. The Florida vote is tainted, they say. It's too close to call. Too
many irregularities. The vote can simply be dismissed by the constitutional
authority -- Vice President Al Gore.
Would you put it past him? I sure wouldn't.
------------------------------------------------------------------------------
--
Joseph Farah is editor and chief executive officer of WorldNetDaily.com and
writes a daily column. |
David and Heidi,
Hope you enjoyed your Easter holiday and your Anzac holiday!
With respect to your question of whether the financial trader services can be
charged at cost or must have a 7.5% mark-up, I received advice from Chris
Catt at PWC-Sydney last summer that there needed to be a mark-up for these
services. Given the skills required by the financial trader and the risk
associated with the transactions, Chris advised that there needed to be a
mark-up over cost based on a recent ruling by the ATO.
The ATO issued TR 1999/1 in January 1999, which provides a safe-harbor for de
minimis services that are provided by an Australian company and meet certain
monetary limitations. Under the de miminis safe harbor, where the costs
associated with all services provided by Enron Australia Pty Limited to
offshore affiliates do not exceed A$500,000 in a year, the safe harbor
mark-up of 7.5% may be available. Paragraph 86 of the ruling sets forth the
requirements as follows:
"As mentioned in paragraph 77, the Commissioner will apply a similar
administrative practice in de minimis cases where the total direct and
indirect costs of supplying services to Australian or foreign associated
enterprises, as appropriate, is not more than $500,000 in a year. The
practice applies to all intra-group services supplied or acquired where the
relevant cost limit is not exceeded. Therefore, in some cases, it might be
applicable to all intra-groups services both supplied and acquired. The
transfer prices that must be used, and the conditions for their use, are the
same as those specified in paragraphs 82 to 84. As for the practice in
relation to non-core services, all taxpayers in a group must use the same
mark-up, for incoming and outgoing services, in respect of each foreign
jurisdiction, but the mark-up may vary from country to country, within the
limits described above.
Example
An Australian subsidiary of a foreign based multinational group receives
marketing and technical assistance from a foreign associate. No other
services are acquired by any Australian member of the group from its foreign
associated enterprises. The total direct and indirect costs of providing the
services to the Australian subsidiary for the year are $200,000. As long as
the amount actually charged for the services is not more than $215,000 (or
$220,000 in the circumstances outlined in paragraph 83), the Commissioner
would not require the taxpayer to establish an arm,s length price for the
services."
Based on discussions we had late last summer, we thought that the A$500,000
threshold could be met.
To my knowledge, the recent changes and proposed changes to the Australian
tax rules would not affect TR 1999/1. Please let me know if you have seen
anything to the contrary. Consequently, to my knowledge, we are still under
these guidelines. I,m not sure, David, what you mean by 100% being current
practice as stated in your April 18th e-mail. I am guessing that you are
referring to the services provided under the cost sharing agreement. Under
that agreement, office costs are being shared by Enron Australia Pty Limited
and 3 other Australian entities. Here, services are being provided to an
off-shore affiliate. As a result, it appears that TR 1999/1 would require a
mark-up.
I will be happy to discuss this with you both at your convenience.
Best regards,
Susan
David Minns
04/18/2000 12:22 AM
To: Susan Musch/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc: Heidi Mason/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Shari Stack@ECT
Subject: Re: Revised Australian Services Agreement
I've checked my notes and spoken to Heidi and it appears the delay was
settling the mark up (107.5%) in the Agreement. Heidi believes that this
figure can be reduced to 100% (which is current practice). If everyone is
agreeable I will arrange execution.
David Minns
04/18/2000 02:35 PM
To: Susan Musch/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc: Heidi Mason/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
Subject: Re: Revised Australian Services Agreement
Susan this is the latest version of the Services re ENA/EAPL. There is a note
on my file that the percentage uplift.
Shari Stack@ECT
09/18/99 06:32 AM
To: Susan Musch/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc: Alan Aronowitz@ECT, Gary Hickerson@ECT, Harry Arora@ECT, Colin
Jackson@ECT, Paul Quilkey/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, David
Minns/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Heidi
Mason/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Barbara Lewis/HOU/ECT@ECT
Subject: Revised Australian Services Agreement
Attached please find my mark-up of the Australian Services Agreement. I have
attached a blacklined version for ease of reference.
Apart from changing the name from ECT to ENA, I have modified clause 1 in
Schedule 1 to more accurately reflect the intended products.
Please call me if any questions.
Many thanks,
Shari
---------------------- Forwarded by Shari Stack/HOU/ECT on 09/17/99 02:25 PM
---------------------------
Susan Musch@ENRON_DEVELOPMENT
09/15/99 07:30 PM
To: Shari Stack@ENRON_DEVELOPMENT, Alan Aronowitz@ECT, Gary Hickerson@ECT,
Harry Arora@ECT, Colin Jackson@ECT, Paul
Quilkey/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, David
Minns/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Heidi
Mason/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc:
Subject: Draft of Australian Services Agreement
Attached is a draft of the services agreement for the financial trading
services to be provided by the Australian trading office for ECT-Houston.
Please review the agreement and let me know if you have any questions,
comments or revisions.
Best regards,
Susan |
------------------------------------------------------------------------------
------------------------
W E E K E N D S Y S T E M S A V A I L A B I L I T Y
F O R
May 11, 2001 5:00pm through May 14, 2001 12:00am
------------------------------------------------------------------------------
------------------------
SCHEDULED SYSTEM OUTAGES:
ARDMORE DATA CENTER - FACILITY OPERATIONS: No Scheduled Outages.
AZURIX: No Scheduled Outages.
EB34 DATA CENTER - FACILITY OPERATIONS: No Scheduled Outages.
EDI SERVER: No Scheduled Outages.
ENRON CENTER SOUTH DATA CENTER - FACILITY OPERATIONS: No Scheduled Outages
ENRON NORTH AMERICAN LANS:
Impact: EES
Time: Sat 5/12/2001 at 1:00:00 PM CT thru Sat 5/12/2001 at 5:00:00 PM CT
Sat 5/12/2001 at 11:00:00 AM PT thru Sat 5/12/2001 at 3:00:00 PM PT
Sat 5/12/2001 at 7:00:00 PM London thru Sat 5/12/2001 at 11:00:00 PM London
Outage: Move vlans for EES in Enron Building
Environments Impacted: EES in Enron Building
Purpose: Provide more capacity to the network
Backout: paste in old configs
Contact(s): Gail Kettenbrink 713-853-4524
Michael Huang 713-345-3201
FIELD SERVICES: No Scheduled Outages.
INTERNET: No Scheduled Outages.
MESSAGING: No Scheduled Outages.
MARKET DATA: No Scheduled Outages.
NT: No Scheduled Outages.
OS/2: No Scheduled Outages.
OTHER SYSTEMS:
Impact: Corp, OTS, ETS
DATE: MAY 15, 2001/2/2001 at 5:30:00 PM
Outage: Migrate DSS Server to GTHOU-APPSQ03P
Environments Impacted: DSS users will not be able to access the old server
(ENEDS01_ADAPT)after this date
Purpose: The existing server is outdated, migrating to SQL 2000 provides
increased
functionality and conforms to database platform requirements.
Backout:
Contact(s): Mary Vollmer 713-853-3381
Joe Hellsten 713-853-7346 713-545-4164
Impact: CORP
Time: Fri 5/11/2001 at 8:00:00 PM CT thru Sat 5/12/2001 at 10:00:00 PM CT
Fri 5/11/2001 at 6:00:00 PM PT thru Sat 5/12/2001 at 8:00:00 PM PT
Sat 5/12/2001 at 2:00:00 AM London thru Sun 5/13/2001 at 4:00:00 AM London
Outage: CPU replacement on server sennacca.
Environments Impacted: RMS
Purpose: Replace faulty CPU that is offline.
Backout: Restore server to old configuration.
Contact(s): Malcolm Wells 713-345-3716
Impact: CORP
Time: Fri 5/11/2001 at 5:00:00 PM CT thru Fri 5/11/2001 at 5:15:00 PM CT
Fri 5/11/2001 at 3:00:00 PM PT thru Fri 5/11/2001 at 3:15:00 PM PT
Fri 5/11/2001 at 11:00:00 PM London thru Fri 5/11/2001 at 11:15:00 PM
London
Outage: Decommission of the following servers: intra, intra-dev, conman1,
aserv1, ardent, dbadmin
Environments Impacted: Corp
Purpose: Server no longer used. The servers will be decommissioned or
redeployed where necessary.
Backout:
Contact(s): Malcolm Wells 713-345-3716
Impact: CORP
Time: Sat 5/12/2001 at 2:00:00 AM CT thru Sun 5/13/2001 at 5:00:00 PM CT
Sat 5/12/2001 at 12:00:00 AM PT thru Sun 5/13/2001 at 3:00:00 PM PT
Sat 5/12/2001 at 8:00:00 AM London thru Sun 5/13/2001 at 11:00:00 PM London
Outage: Resource and OS upgrade to server fracture.
Environments Impacted: Global company RMS ECM
Purpose: An OS upgrade is needed to provide the disk upgrade solution.
Additionanl memory is needed as well.
Backout: Attach the old disk solution and reboot to old configuration.
Contact(s): Malcolm Wells 713-345-3716
Impact: ENA
Time: Sat 5/12/2001 at 10:00:00 PM CT thru Sat 5/12/2001 at 10:15:00 PM CT
Sat 5/12/2001 at 8:00:00 PM PT thru Sat 5/12/2001 at 8:15:00 PM PT
Sun 5/13/2001 at 4:00:00 AM London thru Sun 5/13/2001 at 4:15:00 AM London
Outage: Bounce PWRPROD1 database
Environments Impacted: Enpower User
Purpose: Change some configuration to improve database performance
Backout: Use the old parameter file.
Contact(s): Tantra Invedy 713 853 4304
SITARA: No Scheduled Outages.
SUN/OSS SYSTEM: No Scheduled Outages.
TELEPHONY:
Impact:
Time: Sat 5/12/2001 at 10:00:00 PM CT thru Sun 5/13/2001 at 1:00:00 AM CT
Sat 5/12/2001 at 8:00:00 PM PT thru Sat 5/12/2001 at 11:00:00 PM PT
Sun 5/13/2001 at 4:00:00 AM London thru Sun 5/13/2001 at 7:00:00 AM London
Outage: Quarterly Maintenance - Telephone System
Environments Impacted: All
Purpose: Quarterly maintenance. While voicemail nodes are being serviced (one
box at a time), a slight disruption will be experienced.
Messages will continue to be stored but will not be delivered until each node
of voicemail is back up and operational.
CMS call center management reporting will not be availalble during this
time.
Backout:
Contact(s): Cynthia Siniard 713-853-0558
TERMINAL SERVER: No Scheduled Outages.
UNIFY:
Impact: CORP
Time: Fri 5/11/2001 at 6:00:00 PM CT thru Fri 5/11/2001 at 7:00:00 PM CT
Fri 5/11/2001 at 4:00:00 PM PT thru Fri 5/11/2001 at 5:00:00 PM PT
Sat 5/12/2001 at 12:00:00 AM London thru Sat 5/12/2001 at 1:00:00 AM London
Outage: Memory replacement for server electron.
Environments Impacted: Unify Users
Purpose: Replace faulty memory module.
Backout: Get new memory if necessary
Restart server with out memory as last resort
Contact(s): Malcolm Wells 713-345-3716
------------------------------------------------------------------------------
-----------------------------------------------
FOR ASSISTANCE
(713) 853-1411 Enron Resolution Center
Specific Help:
Information Risk Management (713) 853-5536
SAP/ISC
(713) 345-4727
Unify On-Call (713) 284-3757 [Pager]
Sitara On-Call (713) 288-0101 [Pager]
RUS/GOPS/GeoTools/APRS (713) 639-9726 [Pager]
OSS/UA4/TARP (713) 285-3165 [Pager]
CPR (713) 284-4175 [Pager]
EDI Support (713) 327-3893 [Pager]
EES Help Desk (713)853-9797 OR (888)853-9797 |
The Oxford Princeton Programme E-Newsletter
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The World's Leading Provider of Full Spectrum
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In this edition:
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---------------------- Forwarded by Judy Hernandez/HOU/ECT on 08/04/2000
08:56 AM ---------------------------
Angela Barnett
08/04/2000 05:54 AM
To: Regina Blackshear/Corp/Enron@ENRON, Angela Gill/NA/Enron@Enron, Sandra R
McNichols/HOU/ECT@ECT, Leslie Smith/HOU/ECT@ECT, Judy Hernandez/HOU/ECT@ECT,
Pamela Mitchell/HOU/ECT@ECT, Nikki Johnson/NA/Enron@Enron, Warren
Perry/Corp/Enron@Enron, Derick Jones/Corp/Enron@Enron, Diane
Salcido/Corp/Enron@Enron, Jorge Olivares/Corp/Enron@ENRON, Eve
Puckett/Corp/Enron@ENRON, Judy Walters/HOU/ECT@ECT
cc:
Subject: Fwd: Prayer
---------------------- Forwarded by Angela Barnett/HOU/ECT on 08/04/2000
05:52 AM ---------------------------
Mary Westbrook <[email protected]> on 08/04/2000 05:43:32 AM
To: Mabel Abrasley <[email protected]>
cc:
Subject: Fwd: Prayer
Note: forwarded message attached.
__________________________________________________
Do You Yahoo!?
Kick off your party with Yahoo! Invites.
http://invites.yahoo.com/
Content-Transfer-Encoding: 7bit
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Received: from imo-r07.mx.aol.com (152.163.225.7) by mta110.mail.yahoo.com
with SMTP; 03 Aug 2000 18:14:16 -0700 (PDT)
Received: from [email protected] by imo-r07.mx.aol.com (mail_out_v27.12.) id
r.39.84f5079 (8977) for <[email protected]>; Thu, 3 Aug 2000 21:13:58
-0400 (EDT)
From: [email protected]
Message-ID: <[email protected]>
Date: Thu, 3 Aug 2000 21:13:57 EDT
Subject: Prayer
To: [email protected]
MIME-Version: 1.0
Content-Type: text/plain; charset="US-ASCII"
X-Mailer: AOL 3.0 16-bit for Windows sub 86
Content-Length: 4101
> >
> > Some people, it seems, get offended way too easily.
> > I mean, isn't that
> > what all
> > > this prayer hullabaloo is all about - people
> > getting offended? Those of
> > us in
> > > the majority are always tippy-toeing around,
> > trying to make sure we don't
> > step
> > > on the toes or hurt the feelings of the humorless.
> > And you can bet
> > there's a
> > > lawyer standing on every corner making sure we
> > don't. Take this prayer
> > deal.
> > > It's absolutely ridiculous. Some atheist goes to
> > a high school football
> > game,
> > > hears a kid say a short prayer before the game and
> > gets offended. So he
> > hires a
> > > lawyer and goes to court and asks somebody to pay
> > him a whole bunch of
> > money for
> > > all the damage done to him. You would have
> > thought the kid kicked him in
> > the
> > > crotch. Damaged for life by a 30-second prayer?
> > Am I missing something
> > here?
> > >
> > > I don't believe in Santa Claus, but I'm not going
> > to sue somebody for
> > singing a
> > > Ho-Ho-Ho song in December. I don't agree with
> > Darwin, but I didn't go out
> > and
> > > hire a lawyer when my high school teacher taught
> > his theory of evolution.
> > Life,
> > > liberty or your pursuit of happiness will not be
> > endangered because
> > someone says
> > > a 30-second prayer before a football game. So
> > what's the big deal? It's
> > not
> > > like somebody is up there reading the entire book
> > of Acts. They're just
> > talking
> > > to a God they believe in and asking him to grant
> > safety to the players on
> > the
> > > field and the fans going home from the game.
> > >
> > > "But it's a Christian prayer," some will argue.
> > Yes, and this is the
> > United
> > > States of America, a country founded on Christian
> > principles. And we are
> > in the
> > > Bible Belt. According to our very own phone book,
> > Christian churches
> > outnumber
> > > all others better than 200-to-1. So what would you
> > expect - somebody
> > chanting
> > > Hare Krishna? If I went to a football game in
> > Jerusalem, I would expect
> > to hear
> > > a Jewish prayer. If I went to a soccer game in
> > Baghdad, I would expect to
> > hear
> > > a Muslim prayer. If I went to a ping-pong match
> > in China, I would expect
> > to
> > > hear someone pray to Buddha.
> > >
> > > And I wouldn't be offended. It wouldn't bother me
> > one bit. When in
> > Rome...
> > > "But what about the atheists?" is another
> > argument. What about them?
> > Nobody is
> > > asking them to be baptized. We're not going to
> > pass the collection plate.
> > Just
> > > humor us for 30 seconds. If that's asking too
> > much, bring a Walkman or a
> > pair of
> > > ear plugs. Go to the bathroom. Visit the
> > concession stand. .. Call your
> > > lawyer.
> > >
> > > Unfortunately, one or two will make that call. One
> > or two will tell
> > thousands
> > > what they can and cannot do. I don't think a
> > > short prayer at a football game is going to shake
> > the world's
> > foundations. Nor
> > > do I believe that not praying will result in more
> > serious injuries on the
> > field
> > > or more fatal car crashes after the game. In
> > fact, I'm not so sure God
> > would
> > > even be at all these games if he didn't have to
> > be. That's just one of
> > the
> > > downsides of omnipresence. If God really liked
> > sports, the Russians would
> > never
> > > have won a single gold medal, New York would never
> > play in a World Series
> > and
> > > Deion Sanders' toe would be healed by now.
> > >
> > > Christians are just sick and tired of turning the
> > other cheek while our
> > courts
> > > strip us of all our rights. Our parents and
> > grandparents taught us to
> > pray
> > > before eating, to pray before we go to sleep. Our
> > Bible tells us just to
> > pray
> > > without ceasing. Now a handful of people and
> > their lawyers are telling us
> > to
> > > cease praying. God, help us.
> > >
> > > And if that last sentence offends
> > you-well............just sue me.
> > >
> > >
> > >
> >
> >
> > |
Hello, following up our PGE Budget presentation I am forwarding you the
following information.
Jessica - the 2002 Capital Slide has been revised to be consistent with
the NNG disclosure schedule. The decommissioning forecast is up by $1.6
MM, however since this is funded by the decommissioning trust it should
not be an issue.
Tracy - Do you have a time and agenda set for the Nov. 1 dry run of the
budget presentation? I may be sitting in for Piro so please keep me
posted as to what the plan is.
Rod - you asked for some detail on our IT capital expenditures. The
file IT_Teresa includes the requested detail. Note that in our UE-115
ratecase we were authorized to expend up to $96.8 MM for the 2000-2002
budget years. This is a balancing account, such that if we don't expend
the money we have to refund it to customers. As an fyi - I've pasted in
below the language from our UE-115 Stipulation on IT costs.
Q. What is the basis for the stipulation relating to issue S-45, CIS /
IT Disallowance?
A. After a Staff review of new IT systems and their associated capital
costs, Staff has determined PGE's capital costs for new IT systems to be
prudent. As a result, the Parties agreed to full recovery of PGE's IT
investments, subject to a Staff audit. PGE will place into base rates
100% of the 2002 revenue requirement related to the 2000, 2001, and 2002
capital additions for the CIS/IT capital items listed below. The 2002
revenue requirement included in base rates will be trued-up to the
actual revenue requirement for the CIS/IT capital costs. OPUC Staff
will audit PGE's actual capital expenditures for the CIS/IT capital
items listed below.
1. Customer information system.
2. Enterprise resources planning (ERP) system.
3. Network meter reading (NMR) backbone and data store (excluding the
meters).
4. Miscellaneous capitalized information technology costs.
Some of the forecasted 2000-2002 capital additions may be delayed until
2003. Delayed costs can also be recovered, subject to the same Staff
audit procedures and standards. Only those costs that are reasonable
and prudent will be authorized for inclusion in the "actual" revenue
requirement calculation. Accordingly, customers will receive a refund
for any costs PGE does not expend or costs the OPUC finds imprudent.
Let me know if you have any questions.
Jim B. 503-464-8931
------------------- TEXT.htm follows -------------------
<!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN">
<HTML><HEAD>
<META http-equiv=Content-Type content="text/html; charset=iso-8859-1">
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<BODY style="MARGIN-TOP: 2px; FONT: 8pt MS Sans Serif; MARGIN-LEFT: 2px">
<DIV><FONT size=1>Hello, f</FONT><FONT size=1>ollowing up our PGE Budget
presentation I am forwarding you the following information.</FONT></DIV>
<DIV><FONT size=1></FONT> </DIV>
<DIV><FONT size=1>
<DIV>Jessica - the 2002 Capital Slide has been revised to be consistent with the
NNG disclosure schedule. The decommissioning forecast is up by $1.6 MM,
however since this is funded by the decommissioning trust it should not be an
issue.</DIV>
<DIV> </DIV>
<DIV>Tracy - Do you have a time and agenda set for the Nov. 1 dry run of the
budget presentation? I may be sitting in for Piro so please keep me posted
as to what the plan is.</DIV></FONT></DIV>
<DIV><FONT size=1></FONT> </DIV>
<DIV><FONT size=1>Rod - you asked for some detail on our IT capital
expenditures. The file IT_Teresa includes the requested detail. Note
that in our UE-115 ratecase we were authorized to expend up to $96.8 MM for
the 2000-2002 budget years. This is a balancing account, such that if
we don't expend the money we have to refund it to customers.</FONT> As an
fyi - I've pasted in below the language from our UE-115 Stipulation on IT
costs.</DIV>
<DIV> </DIV>
<DIV> </DIV>
<DIV><STRONG>Q.</STRONG> What is the basis for the stipulation relating to
issue S-45, CIS / IT Disallowance?</DIV>
<DIV><BR><STRONG>A.</STRONG> After a Staff review of new IT systems and
their associated capital costs, Staff has determined PGE's capital costs for new
IT systems to be prudent. As a result, the Parties agreed to full recovery
of PGE's IT investments, subject to a Staff audit. PGE will place into
base rates 100% of the 2002 revenue requirement related to the 2000, 2001, and
2002 capital additions for the CIS/IT capital items listed below. The 2002
revenue requirement included in base rates will be trued-up to the actual
revenue requirement for the CIS/IT capital costs. OPUC Staff will audit
PGE's actual capital expenditures for the CIS/IT capital items listed
below.</DIV>
<DIV><BR>1. Customer information system.<BR>2. Enterprise resources planning
(ERP) system.<BR>3. Network meter reading (NMR) backbone and data store
(excluding the meters).<BR>4. Miscellaneous capitalized information technology
costs.<BR></DIV>
<DIV>Some of the forecasted 2000-2002 capital additions may be delayed until
2003. Delayed costs can also be recovered, subject to the same Staff audit
procedures and standards. Only those costs that are reasonable and prudent
will be authorized for inclusion in the "actual" revenue requirement
calculation. Accordingly, customers will receive a refund for any costs
PGE does not expend or costs the OPUC finds imprudent.</DIV>
<DIV> </DIV>
<DIV>Let me know if you have any questions.</DIV>
<DIV>Jim B. 503-464-8931<BR></DIV></BODY></HTML> |
FYI
-----Original Message-----
From: Dernehl, Ginger
Sent: Friday, November 16, 2001 2:45 PM
To: Shapiro, Richard
Subject: Government Affairs Organization Announcement
With the announcement of Enron's acquisition by Dynegy behind us, and with the initial severance process completed, it seemed an appropriate time to effect some organizational changes so that we as a group are better prepared to meet the challenges of the future. Before I turn to the organizational changes, I would like to say a few words about those who will be leaving the company as a result of the initial severance (you'll know who they are by their absence on the organizational chart): Leading and being a part of this group has been a privilege?I am thankful for every day that I have had that responsibility and thankful for however long I continue to have the responsibility. This sense of privilege and thankfulness is primarily driven by having had the opportunity to get to know and care about such a dedicated group of professionals and support staff and who, to a person, are also very decent and good people. To say good-bye to some of our colleagues is not easy. I want to, on behalf of all of us, thank them for their hard work, their integrity, their decency, and the good times and laughter that we shared. I trust that many of us will find ways to sustain friendships that have been and will continue to be very special. Thanks to each of you who are leaving for all you have done.
As to the organizational structure, it has become increasingly apparent to me that the existing organization, with a mix of groups organized along functional and regional lines (particularly within the U.S.), has impeded our ability to get things done in the most efficient fashion at times. The need to rationalize the organizational structure, in order to consolidate all U.S. energy functions, is a strong need from my perspective. As a result, Jim Steffes will lead the U.S. Energy group along with Sue Nord, who will jointly report to Jim and myself. Sue will assist Jim in the leadership of the group and take on project management responsibilities as warranted to help Jim shoulder a significant burden. Also reporting to Jim will be a leadership group for U.S. Energy that will be as follows: Wholesale Electricity will be led by Christi Nicolay; Retail Electricity and Natural Gas will be led by Harry Kingerski; Wholesale Gas will be led by Leslie Lawner. Last, but not least, Jeff Dasovich and Sue Mara, who will continue to focus on California energy issues, will report to Jim. (Sue Mara will also be part of the Wholesale electricity team).
Steve Montovano, who will continue to report to me, will lead a commercial development effort along with Dan Allegretti.
With the elimination of the regional groups, I also recognize that there is a need to continue to focus on how we as a group address our political/legislative needs across the U.S. Paul Kaufman will lead a small group that will address that need and that will focus on state political support. Paul will also take the lead for Government Affairs in support of corporate development efforts across the U.S.
Much of the rest of the group remains the same. Linda Robertson will continue to lead the Washington group with Sarah Novosel, who reports to Linda, taking the lead role in our coordination of activities at FERC. Amr Ibrahim will continue to lead the support of the Global Assets group and also continue to manage the Risk Analytics function. Maggy Huson will take over support of the non-energy business units, which are as follows: Global Markets, Industrial Markets, Networks, and Broadband. Rob Hemstock will continue to lead the support of Enron Canada. Paul Dawson, who heads up government affairs for Europe; Sergio Assad, who heads up government affairs for South America; and Mike Grimes and Mark Crowther, who head up our Asian efforts, will continue to jointly report to the business units and myself.
I am also forming a North American leadership group for Government Affairs to provide policy guidance for the larger group and the company. That Committee will consist of Rob Hemstock, Maggy Huson, Amr Ibrahim, Paul Kaufman, Harry Kingerski, Leslie Lawner, Steve Montovano, Christi Nicolay, Sue Nord, Sarah Novosel, Linda Robertson, Jim Steffes and myself. We will also continue to have an RCR Committee that will consist of Maggy Huson, Harry Kingerski, Sue Nord, Linda Robertson, Jim Steffes & myself. Finally, I am forming a Dynegy/Enron regulatory approvals working group that will consist of Jose Bestard, Paul Dawson, Paul Kaufman, Sue Nord, Sarah Novosel and myself.
No organizational structure or set of organizational changes is either perfect or permanent. I believe these changes will make us better and more prepared for the future. However, we must be prepared to further adjust as the future unfolds for the company.
One final note: I am deeply sorry that each of you has had to live through this uncertain and troubled period for the company. We are all saddened by the recognition that we are in the midst of changes that will leave our group fundamentally altered, but we must resolve to do our best for each other and ourselves during this period of change to ensure that what emerges, for those of us who do remain a part of the new Dynegy, reflects the excellence and integrity that has characterized our group. Personally, I will do all I can, for as long as I can, to steer the group through this to the very best place possible. Your continued dedication and support is very much appreciated. Hang in there and thanks. |
New Market Opportunity: Industrial Hourly Sales
I was wondering if it made sense to discuss internal to Enron Government
Affairs the concept of opening the Large Industrial Market to eCommerce. If
we think this is reasonable, maybe we can make a pitch to the Enron NetWorks.
It is my recollection that the current regulatory rules related to customer
switching and marketer enrollment do not allow large consumers to buy energy
on a less than monthly basis - there is no switching within the month. LDCs
have historically prohibitied this to make sure that they were "paid" and
energy flows were in "balance".
To me, this regulatory "restriction" makes no sense at all. First, big
consumers have the capability to buy energy hourly - staff and resources.
Second, big consumers need to be sure that they are getting the absolute
lowest price. Third, big consumers control the load which if proper price
signals are provided can be used to reduce overall system peaks. Finally,
the LDC arguments have always been ridiculous - they buy and sell energy
hourly.
To initiate this discussion, I was wondering if Jeff Dasovich and Lisa Yoho
could find out in CA and PA, respectively, if I am correct about the
regulatory "restrictions". The other question, for Jeff Brown, is whether or
not we could construct a framework for Enron Online that provides for the
purchasing of the large customer full requirements (for example, metering,
data needs, etc.).
Does this make sense to everyone? If I am way out in left field, let's not
do alot of work. It just seems to me that we should try to migrate big
consumer load to Enron Online before competitors get into eCommerce.
JDS
---------------------- Forwarded by James D Steffes/HOU/EES on 04/20/2000
07:42 AM ---------------------------
ENRON
From: Office of the Chairman@ENRON on 04/07/2000 05:46 PM
To: All Enron Worldwide
cc:
Subject: Enron Net Works
It is becoming increasingly clear that the development of eCommerce will have
a significant and continuing impact on the conduct of business in a broad
array of industries. Through EnronOnLine, Enron has quickly become a major
catalyst for the transition to the web in the gas and electric industries.
EnronOnLine has been an enormous success since its launch. Since launch, we
have completed 67,043 transactions on line, with a total dollar value of over
$25 billion. EnronOnLine is now the largest eCommerce site in the world.
We believe that the competitive success of EnronOnLine is due to one very
specific reason. In addition to providing a web-based platform for
transactions, Enron acts as principal to provide direct liquidity to the
site. We stand ready at all times, in any market conditions, to buy and sell
at the posted price. This converts a &bulletin board8 (the more typical
eCommerce concept) into a true market. There are very few, if any,
competitors that can provide this capability.
We are increasingly convinced that this competitive advantage can be
dramatically expanded to other products and other geographies. If we are
correct, this could provide an enormous new opportunity for growth for Enron.
Accordingly, we are initiating a major new effort to capture this
opportunity. Effective today we are creating a new business, Enron Net
Works, to pursue new market development opportunities in eCommerce across a
broad range of industries. It is likely that this business will ultimately
be our fifth business segment, joining transmission & distribution,
wholesale, retail and broadband services.
Included in this business will be our entire IT and technology group along
with significant talent and resources in market making and finance.
Initially, North America will provide primary direct support for staff
services and back office, however, over time we will be requesting support
services from virtually all Enron units to ensure continued growth and
success. To facilitate the combining of commercial capabilities with these
new eCommerce platforms, Enron Net Works will work closely with the merchant
functions of North America, Europe, South America, CALME, Asia and Broadband.
Enron Net Works will be headed by Greg Whalley, Chief Executive Officer; Mike
McConnell, Chief Operating Officer; and Jeff McMahon, Chief Commercial
Officer. These individuals will comprise the Office of the Chairman for
Enron Net Works and remain on the Executive Committee of Enron Corp.
Replacing Greg Whalley as President and Chief Operating Officer of Enron
North America is Dave Delainey, who will also join Enron,s Executive
Committee.
Global Technology will remain intact but will now be a part of Enron Net
Works. It will maintain all of the same businesses and services as it did as
an Enron global function. Philippe Bibi will remain the Chief Technology
Officer for all of Enron Corp. and continues to be responsible for the
development of worldwide technology standards and platforms.
EnronOnLine, headed by Louise Kitchen, will also remain intact and will now
be a part of Enron Net Works. The success of EnronOnLine enables us to
utilize this site as a model as we explore other markets. In addition, the
following individuals are included in Enron Net Works along with their
current eCommerce initiatives: Harry Arora, Public Financial Securities; Jay
Fitzgerald, New Markets Identification; Bruce Garner, Metals; and Greg Piper,
Pulp and Paper.
Over the next several weeks we will complete staffing and organizational
design and will provide full details on this exciting new business
opportunity. |
David,
Count me in. Never missed a party.
Vince
-----Original Message-----
From: Haug, David
Sent: Friday, August 31, 2001 3:08 PM
To: Cumberland, Shawn
Cc: Stabler, Frank; Bergsieker, Rick; Mahan, Mariella; Castagnola, Daniel; Shields, David; Sommers, Jeffrey E.; Koye, Ken; Miller, Michael L.; Curran, Greg; Lewis, James C.; Redmond, Brian; Gutierrez, Hector; Pantin, Ronald; Bonnard, Janie; Sayre, Frank; Russ, Mark; Makk; Vegas, Dennis; Smida, Ed; Hensel, Marc; Verma, Sandy; Vicens, Emilio; Arnell, Doug; Oehrle, Mike; Simpson, William; Cockrell-Freeman, Chris; Garcia, Maria E.; Uhl, Jessica; Crady, Ned E.; Leite, Francisco Pinto; Sierra, Rick; Alkhayat, Alhamd; Adler, Jon; Hernandez, David; Hernandez, Alex; Blanco, Ernesto; Melinchon, Ermes; Richardson, James; Blanco, Pedro; McCann, Steven K.; MacKay, Stephen; Avery, Janice; Perez-Bello, Jose; Caranti, Guido; Tortolero, Elio; Marrero, Javier; Watkins, Sherron; Rivera, Coralina; Mendoza, Miguel; Puig, Orlando; Tran, Agatha; Darensbourg, Joe; Rees, Martin; Galan, Joseph M.; Boe, Larry A. (Lawrence); Brown, Angela Y.; Ernest, Angela; Weekley, Alice; Newhouse, Marie; Rodriguez, Elaine; Castillo, Richard; Chavarria, Javier; Emrich, Chuck; Hunt, Christopher B.; Martinez, Mary; Webber, Les; Wapner, Beth; Zatarain, Brian; Kaminski, Vince J; Walls Jr., Rob; Buy, Rick; Delainey, David; Leff, Dan; Dietrich, Janet; Olson, Cindy; Kean, Steven J.; Metts, Mark; McCarty, Danny; Hughes, James A.; Fitzgerald, Jay; Kishkill, Joe; Dimichele, Rich; Sutter, Craig; Odland, Gary; Conner, Patrick; Stanley, Brian; Leach, Doug; Gonzales, Eric; Hicks, Michelle; Shapiro, Richard; Wasaff, George; Jackson, Shimira; Shawnfwd (E-mail); Shawn8888 (E-mail)
Subject: Re: Shawn's farewell email
Stay tuned for info on a multiparty adios/welcome back "event" targeting (deliberate choice of words) Shawn and others, probably Friday Sep 7. Send names of who all is leaving soon and inspired ideas.- - -Curran & Haug (P.S.- - probably not bowling)
From: Shawn Cumberland/ENRON@enronXgate on 08/30/2001 10:11 AM
To: David Haug/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Frank Stabler/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Rick Bergsieker/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Mariella Mahan/ENRON@enronXgate, Daniel Castagnola/ENRON@enronXgate, David Shields/ENRON@enronXgate, Jeffrey E Sommers/ENRON@enronXgate, Ken Koye/HOU/EES@EES, Michael L Miller/ENRON@enronXgate, Greg Curran/ENRON@enronXgate, James C Lewis/ENRON@enronXgate, Brian Redmond/ENRON@enronXgate, Hector Gutierrez/HOU/EES@EES, Ronald Pantin/Ventane/Enron@Enron, Janie Bonnard/HOU/EES@EES, Frank Sayre/ENRON@enronXgate, Mark Russ/ENRON@enronXgate, Makk@/O=ENRON/OU=EU/CN=RECIPIENTS/CN=AMAKK@EX@enronXgate, Dennis Vegas/ENRON@enronXgate, Ed Smida/ENRON@enronXgate, Marc Hensel/ENRON@enronXgate, Sandy Verma/ENRON@enronXgate, Emilio Vicens/ENRON@enronXgate, Doug Arnell/ENRON@enronXgate, Mike Oehrle/ENRON@enronXgate, William Simpson/NA/Enron@Enron, Chris Cockrell-Freeman/HOU/EES@EES, Maria E Garcia/ENRON@enronXgate, Jessica Uhl/ENRON@enronXgate, Ned E Crady/ENRON@enronXgate, Francisco Pinto Leite/ENRON@enronXgate, Rick Sierra/ENRON@enronXgate, Alhamd Alkhayat/ENRON@enronXgate, Jon Adler/ENRON@enronXgate, David Hernandez/HOU/EES@EES, Alejandro Hernandez/ENRON@enronXgate, Ernesto Blanco/ENRON@enronXgate, Ermes Melinchon/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, James Richardson/ENRON@enronxgate, Pedro Blanco/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Steven K McCann/ENRON@enronXgate, Stephen MacKay/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Janice Avery/HOU/EES@EES, Jose Perez-Bello/HOU/EES@EES, Guido Caranti/ENRON@enronXgate, Elio Tortolero/ENRON@enronXgate, Javier Marrero/Corp/Enron@Enron, Sherron Watkins/enron@EnronXgate, Coralina Rivera/ENRON@enronXgate, Miguel Mendoza/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Orlando Puig/ENRON@enronXgate, Agatha B Tran/ENRON@enronXgate, Joe Darensbourg/ENRON@enronXgate, Martin Rees/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Joseph M Galan/ENRON@enronXgate, Larry A Boe/ENRON@enronXgate, Angela Y Brown/ENRON@enronXgate, Angela Ernest/HOU/EES@EES, Alice Weekley/ENRON@enronXgate, Marie Newhouse/ENRON@enronXgate, Elaine Rodriguez/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Richard Castillo/HOU/EES@EES, Javier Chavarria/ENRON@enronXgate, Chuck Emrich/HOU/EES@EES, Christopher B Hunt/ENRON@enronXgate, Mary L Martinez/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Les Webber/ENRON@enronXgate, Beth Wapner/ENRON@enronXgate, Brian Zatarain/ENRON@enronXgate, Vince J Kaminski/ENRON@enronXgate, Rob Walls/ENRON@enronXgate, Rick Buy/ENRON@enronXgate, David W Delainey/HOU/EES@EES, Dan Leff/HOU/EES@EES, Janet R Dietrich/HOU/EES@EES, Cindy Olson/ENRON@enronXgate, Steven J Kean/ENRON@enronXgate, Mark Metts/Enron@EnronXGate, Danny McCarty/ENRON@enronXgate, James A Hughes/ENRON@enronXgate, Jay Fitzgerald/NY/ECT@ECT, Joe Kishkill/SA/Enron@Enron, Richard Dimichele/ENRON@enronXgate, Craig H Sutter/HOU/EES@EES, Gary Odland/HOU/EES@EES, Patrick Conner/ENRON@enronXgate, Brian Stanley/NA/Enron@Enron, Doug Leach/ENRON@enronXgate, Eric Gonzales/ENRON@enronXgate, Michelle Hicks/ENRON@enronXgate, Richard Shapiro/ENRON@enronXgate, George Wasaff/NA/Enron@Enron
cc: Shimira Jackson/ENRON@enronXgate, "Shawnfwd (E-mail)" <[email protected]>@SMTP@enronXgate, "Shawn8888 (E-mail)" <[email protected]>@SMTP@enronXgate
Subject: farewell and thanks
Friends:
Tomorrow will be my last day at Enron. However, I will be near, as I will be taking a new position at El Paso in a few weeks.
I've enjoyed getting to know and work with you during my stay here.
I wish you all the greatest success.
Shawn
P.S. Prior to getting new contact information, I can be reached at [email protected] or on my cell (713.851.9578). |
----- Forwarded by Jeff Dasovich/NA/Enron on 02/12/2001 03:20 PM -----
"Carol Hudson" <[email protected]>
02/09/2001 06:54 PM
Please respond to carol
To: "'Alex Sugaoka \(E-mail\)'" <[email protected]>, "'Bill Carlson
\(E-mail\)'" <[email protected]>, "'Bill Woods \(E-mail\)'"
<[email protected]>, "'Bob Ellery \(E-mail\)'" <[email protected]>, "'Bob
Escalante \(E-mail\)'" <[email protected]>, "'Bob Gates \(E-mail\)'"
<[email protected]>, "'Carolyn A Baker \(E-mail\)'"
<[email protected]>, "'Cody Carter \(E-mail\)'"
<[email protected]>, "'Curt Hatton \(E-mail\)'"
<[email protected]>, "'Curtis Kebler \(E-mail\)'"
<[email protected]>, "'David Parquet'"
<[email protected]>, "'Dean Gosselin \(E-mail\)'"
<[email protected]>, "'Doug Fernley \(E-mail\)'"
<[email protected]>, "'Douglas Kerner \(E-mail\)'"
<[email protected]>, "'Duane Nelsen \(E-mail\)'" <[email protected]>, "'Ed
Tomeo \(E-mail\)'" <[email protected]>, "'Eileen Koch \(E-mail\)'"
<[email protected]>, "'Eric Eisenman \(E-mail\)'"
<[email protected]>, "'Frank DeRosa \(E-mail\)'"
<[email protected]>, "'Greg Blue \(E-mail\)'" <[email protected]>, "'Hap
Boyd \(E-mail\)'" <[email protected]>, "'Hawks Jack \(E-mail\)'"
<[email protected]>, "'Jack Pigott \(E-mail\)'" <[email protected]>,
"'Jim Willey \(E-mail\)'" <[email protected]>, "'Joe Greco \(E-mail\)'"
<[email protected]>, "'Joe Ronan \(E-mail\)'" <[email protected]>,
"'John Stout \(E-mail\)'" <[email protected]>, "'Jonathan
Weisgall \(E-mail\)'" <[email protected]>, "'Kate Castillo \(E-mail\)'"
<[email protected]>, "'Kelly Lloyd \(E-mail\)'" <[email protected]>,
"'Ken Hoffman \(E-mail\)'" <[email protected]>, "'Kent Fickett
\(E-mail\)'" <[email protected]>, "'Kent Palmerton'"
<[email protected]>, "'Lynn Lednicky \(E-mail\)'"
<[email protected]>, "'Marty McFadden \(E-mail\)'"
<[email protected]>, "'Paula Soos'"
<[email protected]>, "'Randy Hickok \(E-mail\)'"
<[email protected]>, "'Rob Lamkin \(E-mail\)'"
<[email protected]>, "'Roger Pelote \(E-mail\)'"
<[email protected]>, "'Ross Ain \(E-mail\)'" <[email protected]>,
"'Stephanie Newell \(E-mail\)'" <[email protected]>, "'Steve
Iliff'" <[email protected]>, "'Steve Ponder \(E-mail\)'"
<[email protected]>, "'Susan J Mara \(E-mail\)'" <[email protected]>, "'Tony
Wetzel \(E-mail\)'" <[email protected]>, "'William Hall \(E-mail\)'"
<[email protected]>, "'Alex Makler \(E-mail\)'" <[email protected]>,
"'D. Frank \(E-mail\)'" <[email protected]>, "'David Dickey
\(E-mail\)'" <[email protected]>, "'Doug Levitt \(E-mail\)'"
<[email protected]>, "'Ed Maddox \(E-mail\)'" <[email protected]>,
"'Eric Edstrom'" <[email protected]>, "'Jeff Dasovich \(E-mail\)'"
<[email protected]>, "'Julie Simon \(E-mail\)'" <[email protected]>,
"'Lucian Fox \(E-mail\)'" <[email protected]>, "'Mark J. Smith'"
<[email protected]>, "'Milton Schultz \(E-mail\)'" <[email protected]>,
"'Nam Nguyen'" <[email protected]>, "'Paul Wood \(E-mail\)'"
<[email protected]>, "'Pete Levitt \(E-mail\)'" <[email protected]>,
"'Rich Dyer \(E-mail\)'" <[email protected]>, "'Rick S. Koebbe
\(E-mail\)'" <[email protected]>, "'Robert Frees \(E-mail\)'"
<[email protected]>, "'Scott Harlan'" <[email protected]>, "'Ted Cortopassi
\(E-mail\)'" <[email protected]>, "'Thomas Heller \(E-mail\)'"
<[email protected]>, "'Tom Hartman'" <[email protected]>, "'Ward Scobee
\(E-mail\)'" <[email protected]>
cc: "Julee Malinowski-Ball \(E-mail\)" <[email protected]>, "Chris Ellison
\(E-mail\)" <[email protected]>, "Andy Brown \(E-mail\)" <[email protected]>,
"Douglas Kerner \(E-mail\)" <[email protected]>, "'Carol Hudson \(E-mail\)'"
<[email protected]>, "'Jan Smutny-Jones \(E-mail\)'" <[email protected]>, "'Katie
Kaplan \(E-mail\)'" <[email protected]>, "'Steven Kelly \(E-mail\)'"
<[email protected]>
Subject: FW: Upcoming legislative matters
Steven has arranged for a conference call, regarding the following, on
Monday, February 12, 2001:
Time: 3:00 pm (PST)
Call-In #: 1-877-322-9648
Part. Code: 111756
-----Original Message-----
From: Julee Malinowski-Ball [mailto:[email protected]]
Sent: Friday, February 09, 2001 4:38 PM
To: Jan Smutny Jones; Steven Kelley; Katie Kaplan; [email protected]
Subject: Upcoming legislative matters
Date: 2/9/01
To: Jan, Steven and Katie
From: Julee
RE: Upcoming Legislative Issues
The Senate Energy Committee is having a hearing on Tuesday afternoon. They
will be hearing testimony on SB 6x (Burton), which would establish a state
power authority; and SB 33x (Burton), which would create the California
Transmission Authority. Attached is a memo from Andy Brown on SB 6x, and I
requested something similar from him on SB 33x. IEP needs to decide what
position, if any, it is going to take on these measures.
Also, since last Friday's siting meeting ended-up focusing primarily on SB
28x (Sher) and AB (Wright), participants never had the opportunity to
comment on and develop a comprehensive plan for siting issues. IEP has its
list of 8 issues (attached) that member developers would like to see in
legislation, but this list is incomplete. As siting bills are introduced
and heard, IEP should be able to stand before committees with this template
of a perfect siting bill that encourages continued development of
electricity supply in California.
IEP may want to consider scheduling a conference call Monday afternoon to
discuss these issues with members.
Julee Malinowski-Ball
Senior Associate
Edson + Modisette
916-552-7070
FAX-552-7075
[email protected]
- 010118_sbx6_abbcmts_r2.doc
- siting legislation (revised)2.doc |
mark:
Any thoughts on whether we should give in with respect to the consequential
damages issue?
Carol
---------------------- Forwarded by Carol St Clair/HOU/ECT on 04/17/2000
06:16 PM ---------------------------
David Minns@ENRON_DEVELOPMENT
04/17/2000 01:38 AM
To: Carol St Clair@ECT
cc: Paul Quilkey/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Paul
Smith/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
Subject: Re: EnronOnline
Carol,
we have one remaining issue outstanding with United Energy on the ETA. They
are still insisting on a exclusion of "consequential losses" from the
indemnity given clause 4(a) of the ETA. Two questions
Do we have a position on agreeing to exclude consquential losses from this
clause? My own view is in this instance it is going to be somewhat "hit and
miss" as what would be a consequential loss and what is not. That being said
the general Enron position is to exclude consequential losses. In fact such a
provision is already in the GTCs in respect of any Transaction. Hence if
there was a Transaction consequentiallossess would then presumably be
excluded in respect of a related breach of the ETA.
Utilicorp is a substantial equity holder in United Energy. I understand they
are trading through EnronOnline. Do we know what they have agreed?
---------------------- Forwarded by David Minns/ENRON_DEVELOPMENT on
04/17/2000 05:15 PM ---------------------------
David Minns
04/12/2000 06:12 PM
To: "Creek, Peggy" <[email protected]> @ ENRON
cc: Paul Smith/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Connell
Burke/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
Subject: Re: EnronOnline
Peggy further my previous email. Two additional points;
I believe it is best for us to move to replace the Deemed ISDA Agreement.
This will provide a cleaner contractual basis for EnronOnline trades. We
should be able to settle a ISDA Master Agreement quite swiftly using the
existing commmercial terms in the Deemed ISDA. If you are concur with this
course of action we will forward to you tomorrow a Schedule for review.
In respect of Section 4(b) of the ETA we would be agreeable to add the
following at its end: "unless such access, entry, omission or action arises
from acts or omissions of Enron and its directors, officers, employees,
agents or contractors.''
David Minns
04/11/2000 03:01 PM
To: "Creek, Peggy" <[email protected]> @ ENRON
cc: Paul Smith/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
Subject: Re: EnronOnline
Peggy my apologies for not replying sooner but I was overseas. Let me
respond to the points you raised.
Deemed ISDA Agreement- We would be most happy to provide a letter that you
could aknowledge that the Deemed ISDA Agreement is a master agreement for the
purposes of the ETA. I would prefer not to make a formal amendment as this
may exclude a subsequent Master Agreement from applying.
Enron Australia Finance Pty Ltd. is the Enron counterparty for all Australian
power trades. If that is your preference then access can be limited to only
those products. You could write to us stating this is your position. However,
we have found that counterparties have not found this necessary. Your
EnronOnline Master User will set access levels for your individual traders.
Many counterparties appoint a person from their Controls group (not a Trader)
as their Master User. This gives them the flexibility to broaden/ reduce
access themselves.
Excluding "consequential loss" in this circumstance is quite broad but if we
could work through some scenarios hopefully we could find some words to
accomodate your concerns.
When we last spoke you mentioned the concern here was the possibility that
the password may be disclosed from other than a UE source ie Enron. I have
talked this issue through with our systems people as to the nature of this
exposure. What happens is that the password which is issued to a user is
immediately changed after it is received from Enron. Hence the source of the
password must be the relevant counterparty. Whether improper use is a result
of the counterparty's negilence or some other cause such as an unauthorised
use or disclosure by one of its personnel is not relevant. What is of concern
that the loss would have resulted from or arose out of a Counterparty's
"access to or utilisation of the Website".
Perhaps you would give me a call so we may discuss any outstanding points.
David Minns
Senior Legal Counsel
Phone 612 9229 2310
Fax 612 9229 2350
"Creek, Peggy" <[email protected]> on 03/31/2000 12:45:47 PM
To: "'[email protected]'" <[email protected]>
cc:
Subject: EnronOnline
David
Further to our conversation this week regarding our outstanding issues in
the Electronic Trading Agreement, UE suggests the following way foreward.
Enron sends a letter to UE to be countersigned. This letter covers the
following:
* it is a variation to the ETA;
* all Transactions entered through EnronOnline will be covered by the
Deemed ISDA Master Agreement signed between UE and Enron Australia Finance
and dated 8th Feb 1999;
* Transactions at this stage will only be between UE and Enron
Australia Finance;
* amend clause 4(b) to exclude indemnification against consequential
loss;
* amend clause 4(b)(ii) of the ETA to remove the wording "whether or
not Counterparty has authorized such access" and provide appropriate
replacement wording that ensures UE is only liable where access is obtained
through UE's negligence.
Please let me know if Enron would agree to this.
Regards
Peggy |
yes
Robert Johnston
01/16/2001 08:35 AM
To: Jeffrey A Shankman/HOU/ECT@ECT
cc: Scott Tholan/Corp/Enron@Enron
Subject: California Power 1/15/01
Jeff- I imagine you are following events in California with some degree of
closeness. Do you want to be included on these daily updates?
RJ
---------------------- Forwarded by Robert Johnston/HOU/ECT on 01/16/2001
08:42 AM ---------------------------
Robert Johnston
01/15/2001 09:10 PM
To: Michelle D Cisneros/HOU/ECT@ECT
cc: Gary Hickerson/HOU/ECT@ECT, James D Steffes/NA/Enron@Enron, Richard
Shapiro/NA/Enron@Enron, Jaime Gualy/NA/Enron@Enron, John Greene/LON/ECT@ECT,
Jeff Kinneman/HOU/ECT@ECT, Kristin Walsh/HOU/ECT@ECT, Scott
Tholan/Corp/Enron@Enron
Subject: California Power 1/15/01
As talks continued toward the Tuesday deadline markets have been focused on
for the California electricity crisis, state officials around Governor Gray
Davis have
toughened up their rhetoric on a couple of fronts even as they confirmed
they would be in the market as early as Tuesday taking bids for energy to be
paid by the
State of California. One problem on that front is still how much producers
want to charge the state for electricity. As we reported last week, Davis and
his aides
want to pay around $50 to $55 dollars per megawatt hour and suppliers want
about $75. Treasury Secretary Summers has suggested an auction as the best
way to
determine the price, but California officials are taking a less free market
approach and still hope to set the price through negotiation over long-term
contracts.
Our sources in Washington, Sacramento, and California are increasingly of the
view that Governor Davis is positioning his government to establish long-term
power contracts with the generators that could be passed through to the
utilities following a bankruptcy in the near term. This week's legislative
activities
in Sacramento will create the vehicle to do so. State credit backing
purchases of power would obviate the need for super-priority borrowing to
finance power
purchases after utility bankruptcy.
1. Audit- Untangling Utility Relationships
California officials have also toughened their rhetoric on the debt repayment
front as they say results from a preliminary audit show that
half of the $9 to $12 billion the utilities say they owe is actually owed to
themselves for power they bought from their corporate relations
This strange situation is due to the fact that one holding company owns both
the power-generating and power-distributing companies under a
holding company umbrella. Of course, that means that some of the power PG&E
and Southern California Edison bought at highly inflated prices
was bought from themselves.
But it was not all bad news in the tense negotiations. Sources confirm that
Davis increasingly understood that the state finance role was a crucial part
of any
potential solution. He told our sources this afternoon that he is willing to
use state credit to eliminate the "risky debt" premium that PG&E
and SCE are being charged by suppliers because of their shaky finances and
that he is willing to extend the current 10% rate increase
utility customers are paying far beyond the initial 90-day deadline. In
return he is demanding that the companies prepare to "share the
burden of debt reduction in return for state help and credit extension."
2. Debt Restructuring- Guarantees, but No Direct State Money
Davis also told the videoconference that he believes the $12 billion in back
debt owed by the utility companies can be cleared up
during a 90-day forbearance period (whether that period has been agreed to by
all creditors is not something we are clear about right now). Davis' idea, as
he laid it out in the meeting, is to use the forbearance period to securitize
the debts and sell them against the utilities' forward rate base or by
establishing a
medium-term repayment plan backed by continued state guarantees.
In both cases the restructured debt would be resolved over a decade without
direct use of taxpayer money as the utilities use their positive margins to
paydown their debt. One of the reasons Davis wants to stay close to the
$50-$55 megawatt charge is that it maximizes the rate at which utilities can
pay
down this debt. There is a strong chance that Davis will agree to use state
guarantees to sweeten the pot at the end of these negotiations, but he remains
opposed to using direct state money. This frustrates both Clinton
administration and utility creditors, but Davis has not yet shown much
flexibility.
3. Eminent Domain/Reregulation
Perhaps most frustrating to the Washington DC free market crowd at Treasury
and the White House was the continued comfort Davis and his group of political
advisers have with "non-market" solutions to the energy crisis. Although
the Governor's aides actually believe the weapon is more a "way to force
eventual
agreement, than an actual solution," the talk returns frequently to these
non-market mechanisms. "We have the ultimate weapon to enforce compliance by
the
Tuesday deadline. If we make no progress. If this thing looks like it will
turn into a genuine crisis, then we will use our powers of condemnation and
we will re-take
the plants and equipment and run them ourselves," a close political aide to
Davis said. "We will absorb the plants, the transmission lines and the
reserved parking
places of the executives. The legislature would agree in a second." |
I sure hope Mack knows what he is doing.
----- Forwarded by David M Gagliardi/TTG/HouInd on 06/28/01 08:19 AM -----
"Gagliardi,
Michael" To: "'[email protected]'" <[email protected]>,
<mgagliardi@u "'[email protected]'" <[email protected]>
nocal.com> cc:
Subject: FW: True Orange E-Mail/Fax #62
06/28/01
07:09 AM
> -----Original Message-----
> From: [email protected] [SMTP:[email protected]]
> Sent: Wednesday, June 27, 2001 8:25 PM
> To: [email protected]
> Subject: True Orange E-Mail/Fax #62
>
> True Orange E-Mail/Fax Service
> Volume 9, E-Mail/Fax #62, Wednesday, June 27, 2001
> Jerry Scarbrough's True Orange, P. O. Box 26530, Austin, Texas 78755 -
> Phone
> 512-795-8536
>
> Fast Pflugerville Linebacker Becomes Horns' 9th Commitment
>
> LB Marcus Myers, 6-3, 220, 4.5, of Pflugerville Connally, committed to
the
>
> Longhorns Wednesday after getting an offer following a summer camp at
> Texas.
> His parents are both Texas Tech graduates and his father, Rufus, was a
> running back for the Red Raiders in the late 1970s.
> Rufus Myers said his son has always wanted to play for Texas, and added,
> "I
> guess I'll have to buy some orange shirts now."
> Myers said he had offers from Iowa State, TCU and Oklahoma State, and he
> said
> Nebraska and Oklahoma coaches had told him he would get an offer if he
> came
> to their summer camps, but he said he just wanted to play for Texas.
> Connally coach Matt Monzingo said Myers is one of his fastest players,
> despite his big frame. "We're going to play him some at fullback and some
> at
> tailback this year," Monzingo said. "He's got really good speed for his
> size."
> But Monzingo also said Myers' future is at linebacker because "he's got a
> great nose for the ball. He's really good at sniffing out where the play
> is
> going and he's very aggressive. With his size and speed, he's got the
> whole
> package to be an outstanding linebacker."
> He had 73 tackles last year, and Monzingo said he expects him to be even
> better this year. Monzingo said Myers played inside linebacker in a
> four-linebacker set last year, and will play middle linebacker in a
> three-linebacker set this season. "We think we need an extra defensive
> back
> because off all the passing teams we play, and Marcus is a big, physical
> linebacker who we think can hold down the middle for us, so we're going
to
>
> have one less linebacker and one more defensive back.
> Myers also is a fine student. He has a 4.5 on a 5.0 scale, ranks in the
> top
> 10% of his class and scored a 1,080 on the ACT last October. He plans to
> take
> it again because he was disappointed in that score.
> * * * *
> Myers is the Longhorns' ninth commitment this summer, joining TE-LB David
> Thomas, 6-3, 210, 4.6, of Wolfforth Frenship; WR Dustin Miksch, 6-0,
165,
>
> 4.4, of Round Rock Westwood; QB Billy Don Malone, 6-2 1/2, 185, 4.7, of
> Paris North Lamar; RB/Athlete Clint Haney, 5-11, 190, 4.27 of Smithson
> Val
> ley; OL Brett Valdez, 6-4, 310, 5.1, of Brownwood, and DTs Sonny Davis,
> 6-1, 320, 5.0, of Gulf Coast JC in Mississippi, Earl Anderson, 6-4, 270,
> 4.8,
> of San Marcos and Lyle Sendlein, 6-4, 260, 4.8, of Scottsdale Chaparral,
> the
> two-time defending Class 4A champion in Arizona.
> * * * *
> RECRUITING NOTES: All of February's UT signees have qualified except
> Killeen
> Ellison LB Yamil LeBron, and he still has a test score coming that might
> put
> him over the hump. . . DE Larry Dibbles of Lancaster was a big hit at the
> Oklahoma summer camp last week. Everyone was impressed with his great
> quickness. At 6-2, 275, you would expect him to be a tackle playing end,
> but
> he has great explosion at the line of scrimmage. He is a pass-rusher
> deluxe.
> This one might be a UT-OU battle at the end. He likes the Longhorns and
he
>
> had a good time at the Sooner camp. If we win the big shootout in Dallas
> on
> Oct. 6, I like our chances.
> * * * *
> FOOTBALL NOTES: I erred by 12 hours on the kickoff for the Texas-Texas
A&M
>
> game in College Station the Friday after Thanksgiving in my last
> e-mail/fax,
> saying it was set for 11 p.m. It's 11 a.m., of course. I also found out
> since
> then that the game in Austin next year also will be at 11 a.m., so both
> the
> Horns and the Aggies will get to travel to an early-morning game against
> each
> other. The difference is that they can spend the night in Austin without
> the
> kind of harassment the Horns took in Collie Station in 1999. . . The
> season
> opener against New Mexico State on Sept. 1 will be at 6 p.m. and will be
> televised nationally by the Fox network, and the second game, also at
> home, against North Carolina will be televised by ABC. That's the good
> news.
> The bad news is that it will have an 11 a.m. kickoff. Pray for clouds
> because
> it will be very, very hot at game time with the sun beaming down unless
> there
> are some clouds.
> * * * *
> My next e-mail/fax will be whenever events warrant.
> * * * *
> The True Orange E-Mail/Fax Service includes at least 99 fax/e-mails a
> year and costs $99 ($79 by E-Mail). The True Orange Newsletter includes
> 26
> newsletters and is published weekly during football season and twice
> monthly
> during most of the other months. It costs $45. Save by subscribing to
both
>
> for $130 (or $110 if you take the faxes via E-Mail or $99 if you take
the
>
> faxes and newsletter via E-Mail). Send check to address at the top of
> page.
> I also update my 900 number - 1-900-288-8839 - frequently with
recruiting
>
> news. My E-Mail address is: [email protected]. |
The word is gettng out. SOme good Ackerman quotes.
Energy Experts Belie Davis' Rosy Prediction
Summer expected to be crunch time
Greg Lucas, Sacramento Bureau Chief
?
Wednesday,?February 28, 2001
Sacramento -- Gov. Gray Davis' optimistic assessment that California may be
on the "back side" of its energy crisis flies in the face of what many energy
companies and other experts predict.
California's real test will come this summer when electricity usage sharply
increases, and unless everything breaks the way Davis hopes, predictions are
that large chunks of the state will be in the dark.
"We're not on the back side of this crisis. This problem is far, far bigger
than the governor is suggesting," said Gary Ackerman, executive director for
the Western Power Trading Forum in Menlo Park.
"To characterize the problem that way shows a recklessness that feeds on the
popular notion we don't have an energy crisis. We do. We have a very serious
one that's going to hit us as temperatures and loads go up," Ackerman said.
The Democratic governor's comments were made Monday in Washington, D.C.,
during an East Coast visit aimed at getting Washington and Wall Street
support for his energy plan.
He admitted more hard work is needed, but said the state is on the "back side
of the crisis" because lawmakers have passed bills needed to help lower
electricity prices.
"Does that mean we're home free?" Davis asked yesterday. "No."
But he again repeated that the state is on the back side of the crisis.
That is contrary to predictions by the Independent System Operator, which
oversees the state's power market.
On any given day in June, the ISO estimates, the state will fall 6,815
megawatts short of demand. That would put nearly 7 million homes in the dark,
if it happens.
In July, the expected shortage is 4,685 megawatts. In August, it's 5,297
megawatts. That's if California has a normal summer. If it's hotter than
normal, the shortage grows.
The ISO's estimates tend to be conservative and do not include Davis'
conservation goal.
But even if a 10 percent reduction were achieved in June that would save
roughly 5,000 megawatts, the state would still be short 1,800 megawatts.
And there are other variables.
Depending on the snowpack and reservoir levels, hydroelectric plants may not
be able to run at full bore, which would also worsen the situation.
"That is something the governor cannot spin his way out of," said Sen. Tom
McClintock, R-Northridge.
Davis said a combination of new power plants and energy conservation will
help the state get through this summer.
The clock is running. The ISO predicts shortages of 3,030 megawatts in May -
- just two months away.
"The real electricity crisis is going to be this summer, and I don't think
we've made enough progress there," said Severin Borenstein, director of the
University of California Energy Institute.
California won't be able to build its way out of the energy crisis by quickly
approving and building new power plants, Borenstein said.
The ISO's demand estimates already factor in the new power plants set to come
online this summer.
"Unless we have a very mild summer and have lots of rainfall between then and
now," Borenstein said, "we are going to face some serious shortages."
Like Davis, Borenstein says California needs to do more to conserve energy.
Unlike Davis, he favors raising prices on big power consumers to give them an
incentive to cut back.
But the Democratic governor may be sending Californians a mixed message.
By telling them the worst is over, he could undercut his plan by making
people believe more conservation is unnecessary.
Excluding what lies ahead, there are also plenty of energy issues left
unresolved right now.
Although Davis has reached a tentative deal with Southern California Edison
on purchasing its share of the state's transmission system for $2.7 billion
-- no such deal exists with either Pacific Gas & Electric or San Diego Gas &
Electric.
Some alternative energy producers, like co-generation plants, are shutting
down because the cash-poor utilities haven't paid them for several months. No
cash means no fuel to run the turbines that make the juice.
Generators like Duke Energy and Reliant Energy aren't convinced the crisis
has passed.
For starters, both companies are owed in excess of $700 million for
electricity bought by PG&E and Edison but never paid for.
"There are a lot of issues still out there such as how much power your state
will require this summer, whether there is enough generation on the ground or
available commercially to handle the load if there is a significant spike in
demand," said Richard Wheatley, a Reliant spokesman.
Harvey Rosenfield, head of the Foundation for Taxpayer and Consumer Rights,
has a slightly different take on whether the worst is over.
"We've said all along it's a crisis inspired by the greed of the utilities
and the energy companies," Rosenfield said.
"Now that taxpayers are paying $1 billion every three weeks to buy
electricity and the ratepayers are going to pay between $13 billion and $20
billion, the companies are happy and the crisis is over. What more could they
want?"
E-mail Greg Lucas at [email protected].
?
? Printer-friendly version
? Email this article to a friend
Feedback
?
,2001 San Francisco Chronicle ? Page?A3
?
Sue Mara
Enron Corp.
Tel: (415) 782-7802
Fax:(415) 782-7854 |
Thought you might be interested in this feedback from a recent conference.
Regards,
Jeff
-----Original Message-----
From: Kabel, Jeff
Sent: Thursday, June 21, 2001 1:36 PM
To: Thomas Sfikas/ENRON@enronXgate@ENRON; Steel Distribution
Cc: McMahon, Jeffrey; Bowen Jr., Raymond
Subject: RE: Steel Stradegies Conference - NYC 06/20/01
I am in complete agreement with the below (except I think the applause for
our demise was, unfortunately, rather more aggressive!!). This was my first
exposure to the non-European Steel players and found myself quite amazed at
the few number of "public" advocates that we had at the conference in
consideration of what we are offering. The one-on-one contact with the
attendees was completely the opposite. We talked with a broad and numerous
set of people who, coming to the booth as sceptics (they think that were are
in the market just to grab the physical business), left with cards in hand
and future risk management meetings in mind. Big buyers (eg GE, Emerson) and
consultants (eg Accenture, McK, etc) were particularly receptive and should
be courted as public advocates for what we are doing.
Jeff
-----Original Message-----
From: Thomas Sfikas/ENRON@enronXgate@ENRON
[mailto:[email protected]]
Sent: 21 June 2001 17:05
To: Steel Distribution
Cc: McMahon, Jeffrey; Bowen Jr., Raymond
Subject: Steel Stradegies Conference - NYC 06/20/01
Yesterday, during the Panel V discussion, "Why Have Steel Middlemen Gone From
The Most Threatened To Best Positioned", we got some direct feedback on the
perception of Enron in the marketplace. The participants were, Fred Lamesh
CEO of Trademarked Inc., Michael Siegel, CEO of Olympic Steel, Bud Siegel,
CEO of Russell Metals, and Wilfred von Bulow, CEO of Ferrostaal Inc.; the
moderator was Peter Marcus, Managing Partners of World Steel Dynamics. Each
participant gave a brief speech about their respective companies which was
followed by a Q&A session. The first mention of Enron was during Michael
Siegal's speech in which he mentioned that Olympic Steel had "sold material
to Enron" and that "Enron has recognized that steel is a commodity and for
many countries represents currency." Michael was clearly proud of his
transactions with Enron and agreed with our view of steel as a commodity.
The real feedback came during the Q&A. Peter Marcus posted the following
question to the panelists. "What about Enron? With their plan of entering the
market with a number of hubs across the country, stocking material, with
large scale distribution on a "spot" basis. Will this business model work? Do
they offer any real value or not?"
Following are the respective responses as best I can reiterate from my notes
( please don't quote me on this):
Fred Lamesh, TradeArbed: "The concept is too new to make a judgment yet on
credibility. Enron has certainly been successful in the past and should not
be discounted. I question their ability to procure material at competitive
enough levels to make this a profitable venture but there may be some value
in their delivery of financial instruments."
Michael Siegal, Olympic Steel: "Enron certainly has the financial means to
withstand a "break even" business to support their financial instruments. At
this point, we view them as just another entity in the market and until we
can evaluate their performance, it is difficult to determine value. I am
concerned though that they will prop up under capitalized distributors and
allow them to operate despite mismanagement. One interesting and unique
concept that they are trying to bring to the industry though is the idea that
a contract is a contract, with liquidated damages for non performance. That
would certainly be change (sporadic laughter among the crowd)."
Bud Siegel, Russell Metals: "I addressed the Enron question last night during
dinner and was told that I was abusive to the young lady from Enron (Tammy, I
later understood that you had a less than cordial conversation with Bud the
previous evening). I am calling Enron the "Hunts of the steel business" with
their idea of buying up the market. The whole concept is like Swiss cheese.
You can not put up depots, buy from steel mills, and expect to sell the same
steel to distributors cheaper than the mills themselves. The logistical
expenses alone guarantee failure. You can not be everything to everyone.
Considering the current state of under financing in this industry, they will
inevitably end up financing bankrupt people and take credit hits. Without
immediate success, Enron has been known to exist markets quickly in the past,
and I believe they will be gone within the year."(some sporadic applause)
Wilfried von Bulow, Ferrostaal: "Right now they are just another additional
player in the market. They will certainly have an impact but it would not be
pragmatic to make a judgment yet on their ability to succeed. Let's watch it
and see if there is any value to what they are trying to bring to the market."
It appears to me that the focus on Enron in the market right now continues to
be more on the physical aspects of what we are doing and not enough emphasis
or credibility is being given to the financial tools we are bringing. It is
obviously very easy to poke holes in a concept of trading large volumes of
physical steel on a "spot" basis through the set up of physical hubs around
the country. In the end, the only way we will be successful will be by
bringing liquidity to our index through financial instruments. We need to
focus more on educating customers about our financial tools, developing our
curve, and bringing players to the market. |
This article from NYTimes.com
has been sent to you by [email protected].
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Why It Takes Psychology to Make People Save
January 13, 2002
By LOUIS UCHITELLE
When it comes to saving for retirement, Americans are not
rational. They know they do not put away enough, surveys
show. But ask them to save more in their 401(k) plans and
they balk. A buck in hand is irresistibly spent. Try a
different approach. Ask them to commit now to increasing
their savings in the future, make the increase coincide
with the next raise, and they cheerfully sign up.
Various quirks embedded in human nature come into play.
Saving more in the future seems much less of a sacrifice.
When the future arrives, opting out succumbs to inertia.
And timing the increase to coincide with a raise, so that
one cancels out the other, is much more palatable than a
cut in take-home pay. In the human psyche, giving up a
raise not yet in hand is easier for people to accept
emotionally than a loss, even the illusion of a loss. After
all, the money "lost" is still there, in one's savings
account.
Standard economics allows for none of these quirks. Over a
lifetime, people rationally save an optimal amount,
mainstream economics holds. Confronted with the reality
that people do not save enough, the mainstream has no
solution, except to reiterate that people are rational, so
whatever they save must be enough. No wonder behavioral
economics is making such a splash, becoming the "in"
specialty of young economists from the best graduate
schools.
"You have to force savings and take the money away before
people have it and can't resist spending it," said Richard
H. Thaler, a University of Chicago economist.
Mr. Thaler is a pioneer in the development of behavioral
economics over the last 25 years, and now he is a leader in
finally applying the insights to daily life. So far the
application focuses on persuading people to save more in
401(k) plans. But there are other potential uses. Fiscal
policy is one. Allowing for human quirks, what is the most
effective way to spend public money to promote jobs and
economic growth? "If we invested six months in designing a
stimulus package using insights from behavioral economics,
there is good reason to think it might work," Mr. Thaler
said.
That is still off in the future. Medicine offers an
immediate application. Some dentists, for example, are
beginning to ask behavioral economists how to get patients
to return every six months for teeth cleaning. Reminder
postcards don't often work. People put them in a drawer and
procrastinate - another human quirk that messes up
mainstream theory, with its faith in rationally taking good
care of teeth. Most people delay, unless the dentist
extracts a commitment, by persuading a patient, when he or
she comes in for a cleaning, to make an appointment on the
spot for the next cleaning, six months hence.
"The postcard system only facilitates procrastination,"
said David I. Laibson, a behavioral economist at Harvard,
who gets calls from dentists.
THE most promising application so far is retirement
savings. At a time when workers must save for their own
retirement, they are in danger of inadequate income in old
age unless they contribute 10 percent of their pay to
401(k) plans, pension experts say. And that does not count
losses in 401(k) money invested in high-technology stocks
or in the Enron Corporation (news/quote).
Such hearty contributions are certainly in the interest of
the Vanguard Group, which administers 401(k) plans for
companies like Philips Electronics (news/quote) North
America, a unit of Royal Philips Electronics. Philips also
has a stake: under federal law, top executives cannot have
retirement savings too out of line with those of ordinary
employees.
So Vanguard and Philips turned to Mr. Thaler and to Shlomo
Benartzi, at the University of California at Los Angeles.
Executives had read a paper they wrote, entitled "Save More
Tomorrow," reporting on the results at a Midwestern company
where 162 employees, more than half the staff, had agreed
in advance to annual increases in their 401(k)
contributions, each increase coinciding with a raise. Over
three years, the contributions rose to 11.6 percent of
income from 3.5 percent.
Most of the 16,000 Philips employees enrolled in 401(k)
plans save 6 percent or less. So Philips is experimenting.
With Vanguard administering the test and Mr. Thaler and Mr.
Benartzi giving advice, the company will ask 2,000 workers
next month to commit to annual increases in 401(k)
contributions of one, two or three percentage points. The
first increase would be in April, when Philips gives annual
raises, although this year, in a recession, a raise is not
a sure thing, says Lisa Pyne, Philips's benefits director.
Still, she is counting on inertia to keep people from
opting out - even the 3 percenters who, absent a raise,
might notice the slight decline in take-home pay.
"Behavioral economics seems to work," Ms. Pyne said.
http://www.nytimes.com/2002/01/13/business/yourmoney/13VIEW.html?ex=1011981914&ei=1&en=192ceb9ad23813d2
HOW TO ADVERTISE
---------------------------------
For information on advertising in e-mail newsletters
or other creative advertising opportunities with The
New York Times on the Web, please contact Alyson
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Copyright 2001 The New York Times Company |
---------------------- Forwarded by Don Miller/HOU/ECT on 12/06/2000 01:38 PM
---------------------------
Enron North America Corp.
From: Mitchell Hurt @ ENRON 12/06/2000 01:23 PM
To: Mitch Robinson/Corp/Enron@Enron
cc: Ross Newlin/HOU/EES@EES, Don Miller/HOU/ECT@ECT, Gus
Eghneim/Corp/Enron@Enron, Dean Frederick/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT,
Don Miller/HOU/ECT@ECT
Subject: Re: Question 2
Mitch,
Following your lead my responses are in red.
Respectfully Mitchell
Enron North America Corp.
From: Mitch Robinson 12/04/2000 05:13 PM
To: Benjamin Rogers/HOU/ECT@ECT
cc: Ross Newlin/HOU/EES@EES@ECT, Dave Kellermeyer/HOU/ECT@ECT, Gus
Eghneim/Corp/Enron@Enron, Mitchell Hurt/Corp/Enron@Enron, Don
Miller/HOU/ECT@ECT
Subject: Re: Question 2
Ben -
My recommended response to #1 is in Blue. To all, please review and verify
you concur. Gus, can you answer the others?
Mitch
Benjamin Rogers@ECT
12/04/2000 10:20 AM
To: Ross Newlin/HOU/EES@EES, Mitch Robinson/Corp/Enron@Enron, Dave
Kellermeyer/HOU/ECT@ECT, Gus Eghneim/Corp/Enron@Enron, Mitchell
Hurt/Corp/Enron@Enron
cc:
Subject: Question 2
Guys:
Here are some more questions regarding the Caledonia and Brownsville plants.
Your assistance with these questions would be greatly appreciated. Please
send your answers back to me when completed. Again, thank you for your help.
Regards,
Ben
3-7998
---------------------- Forwarded by Benjamin Rogers/HOU/ECT on 12/04/2000
10:16 AM ---------------------------
Don Miller
12/04/2000 10:11 AM
To: Benjamin Rogers/HOU/ECT@ECT
cc:
Subject: Question 2
---------------------- Forwarded by Don Miller/HOU/ECT on 12/04/2000 10:10 AM
---------------------------
"Tang, David" <[email protected]> on 11/30/2000 07:45:51 PM
To: "'[email protected]'" <[email protected]>
cc: "Whitehead, Robert" <[email protected]>, "Hoyos, Sergio"
<[email protected]>, "Chaney, Tom" <[email protected]>, "Vivar, Art"
<[email protected]>
Subject: Question 2
More Questions:
Both Plants
1. What are the short term NOx and CO emissions during startups, and are
there limitations during start-ups.
Start-up emissions vary and can not accurately be measured due to the
inherent delay time in the CEMS system. Additionally, start-up emissions are
not required to be and in fact were not measured during the stack testing.
There are no limitations on emissions during start-up evolutions, since the
permits at both plants allow exceptions to exceedences during start-ups and
shutdowns.
Short term NOx emissions due to start ups are as follows:
Unit #1 = 78.95 ppmc
Unit #2 = 79.49 ppmc
Unit #3 = 87.58 ppmc
Unit #4 = 89.48 ppmc
TDEC Operating Permit #950748F special condition #5 requires that Brownsville
Power 1 L.L.C. (BPI) operate at 0.057 #/MMBtu and 0.090 #/MMBtu for units
#1-2 and #3-4 respectively, with a total NOx emission limit of 249 Total Tons
per Year. The TDEC Division of Air Pollution Control regulation chapter
1200-3-20-.02 (1) regulates the reasonable measures required to keep emission
to a minimum during startups, shutdowns and malfuntions. There is no Special
Condition outling rolling averages or compliance with a certain time limit
for NOx emissions otherthan "Reasonable Measures Required."
2. Are industrial stormwater permits required at either site?
Brownsville Power was issued a Tennesse Multi-Sector General Permit (TMGP)
#TNR05XXX for Storm Water Discharges associated with Industrial Activity. Mr.
Jacke Wade, TDEC Division of Water Pollution stated that if the NOV's were
not satisfied after July 1, 2000 a new TDEC rule was being promulgated to
convert the TMGP back into a Storm Water permit during construction. I
believe the NOV's have been satisified and can therefore request TDEC to
terminate the TMGP. Due to BPI's sic code of 4911, it is my understanding
that we are not required to maintain an Industrial storm water permit or
SPDES permit.
Caledonia
3. In Caledonia, what is the custom fuel sampling schedule?
The fuel monitoring schedule has been monthly from Comercial Operation 6-7-00
through 4-00. Then in accordance with the TDEC letter dated 9-10-99
Brownsville Power was granted a custom fuel monitoring schedule. The
schedule consists of sulfur monitoring conducted twice monthly for six
months; then sulfur monitoring conducted once per quarter for six quarters;if
fuel analyses show little variability the samples will be conducted twice
annually during the first and third quarters of each calendar year.
Brownsville
4. What is the agency's response to the Enron letter regarding the 2nd
stormwater NOV?
I spoke with Mr. Jacke Wade on 6-14-00 and requested he visit the site to
inspect the work completed. His response was " I will inspect the facility
as time permits and if I do not show up on your door step your o.k." I have
not heard from him to date.
5. Has there been any further action by the agency since the 1st stormwater
NOV was never responded to?
Not to my knowledge other than issuance of the 2nd NOV dated 5-1-00.
6. One memo stated that the stormwater is channeled to a wetland. Was that
during construction only or is it ongoing?
I do not recall specifically wetland being mentioned, but the TDEC letter
dated 2-22-99 and 5-1-00 refers to the "sediment retention basin". In my
internal memo to Mitch Robinson dated 9-14-00 I outlined the corrective
measures which included the excavation of the holding pond (sediment
retention pond) and build a spillway for sediment retention.
7. Were there any further problems with the B T Readymix concrete dumping
issue? |
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Lessons of Enron...The value of diversification.
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Tanya,
I t makes sense to wait till October.
Vince
Tanya Tamarchenko
01/07/2000 01:56 PM
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: RE: Executive Program on Credit Risk
Vince,
next time this program will be offered in CA in October (see below).
Let me know what you think,
Tanya.
"Isero, Alicia" <[email protected]> on 01/07/2000 12:38:12 PM
To: Tanya Tamarchenko/HOU/ECT@ECT
cc:
Subject: RE: Executive Program on Credit Risk
Thank you for your message. Yes, it will be offered in California at
Stanford, but not until October 15 - 20. If you look on our website:
www.gsb.stanford.edu/exed <http://www.gsb.stanford.edu/exed>
(click on programs)
it will give you the information for both programs (London and Stanford).
Regards,
Alicia Steinaecker Isero
Program Manager, Executive Education
Stanford University
Graduate School of Business
Stanford, CA 94305-5015
Phone: 650-723-2922
Fax: 650-723-3950
Email: [email protected] <mailto:[email protected]>
-----Original Message-----
From: Tanya Tamarchenko [SMTP:[email protected]]
Sent: Thursday, January 06, 2000 3:23 PM
To: [email protected]
Subject: Re: Executive Program on Credit Risk
Hi, Alicia,
I work for Enron Research and I would like to take the Executive
Program on
Credit Risk.
I am trying to find out if this program is going to be offered in
California
soon. Is the date known?
Can you, please, let me know.
Appreciate it,
Tanya Tamarchenko
11/19/99 01:37 PM
To: Tanya Tamarchenko/HOU/ECT@ECT
cc:
Subject: Re: Executive Program on Credit Risk (Document link:
Tanya
Tamarchenko)
"Isero, Alicia" <[email protected]> on 11/10/99 06:10:57
PM
To: "'Credit Risk mailing'"
<"IMCEACCMAIL-Isero+5Falicia+40gsb+2Estanford+2Eedu+20at+20isero+5Falicia+40
gsb+2Estanford+2Eedu"@exch-gsb.stanford.edu>
cc: "Weidell, Anna" <[email protected]>, "Sheehan,
Alice"
<[email protected]> (bcc: Tanya
Tamarchenko/HOU/ECT)
Subject: Executive Program on Credit Risk
Subject: ANNOUNCEMENT: Executive Program on Credit Risk Modeling
Credit Risk Modeling for Financial Institutions
February 27 - March 2, 2000
in London, at the Lanesborough Hotel
Risk management specialists, Stanford Business School professors of
finance
Darrell Duffie and Kenneth Singleton will be repeating their
successful
executive program on Credit Risk Pricing and Risk Management for
Financial
Institutions. The course is created for risk managers, research
staff, and
traders with responsibility for credit risk or credit-related
products,
including bond and loan portfolios, OTC derivative portfolios, and
credit
derivatives.
This program includes:
* valuation models for corporate and sovereign bonds, defaultable
OTC
derivatives, and credit derivatives
* models for measuring credit risk, with correlation, for
portfolios
* analyses of the empirical behavior of returns and credit risk
* the strengths and limitations of current practice in modeling
credit
risk
* practical issues in implementing credit modeling systems
___________________________________________________________
Application Form:
Credit Risk Modeling for Financial Institutions
London, February 27 - March 2, 2000
This form may be completed and returned by email, or may be printed
and sent
by fax to:
Stanford GSB Executive Education Programs
Fax Number: 650 723 3950
You may also apply and see more detailed information by visiting our
web
site at:
http://www.gsb.stanford.edu/eep/CRM
<http://www.gsb.stanford.edu/eep/CRM>
Applications will be acknowledged upon receipt. If you have not
received an
acknowledgement within two weeks, please contact us.
Please complete all sections. All information is kept strictly
confidential.
Name:
Put an x beside one, please: Male: Female:
Citizenship:
Job Title:
Company:
Your company's main activity:
Business Mailing Address:
Business Phone (all codes please):
Business Fax :
Email Address:
Home Address:
Home Phone:
Nickname for identification badge:
Emergency Contact Name:
Emergency Contact Phone:
Title of person to whom you report:
Your job responsibilities and experience related to this course:
(Please
provide a brief job summary here, or attach and send a biographical
summary
containing information relevant to your purpose and qualifications
for the
course.)
College or University Education: please list, by degree:
College or University Dates Degree Granted
_________________ _____ _____________
_________________ _____ _____________
Please note:
All classes and discussions are conducted in English.
In order to reserve a place in the course, the program fee of
US$6,500 is
due upon notification of acceptance. This fee covers the tuition,
most
meals, and all course materials (including a proprietary manuscript
on
credit risk pricing and measurement). The program classes will be
held at
the Lanesborough Hotel at Hyde Park Corner, London. Hotel
accommodations
are not included.
Our refund policy is available upon request.
Please state the source from which you heard about this course:
Name and Date:
If you would like a hard copy brochure and application form, please
contact:
(make sure to include your MAILING ADDRESS)
Alicia Steinaecker Isero
Program Manager, Executive Education
Stanford University
Graduate School of Business
Stanford, CA 94305-5015
Phone: 650-723-2922
Fax: 650-723-3950
Email: [email protected]
<mailto:[email protected]> |
As far as your email questions, my responses are following:
1. The list I have provided you is the only list that exists on financial
counterparties. There is no Excel spreadsheet to follow.
2. Duke Energy Corporation. At Mark's direction, I am sending his note
below regarding utilities. Again, until we do the due diligence on a utility
counterparty we have no way of knowing what kind of local, state or federal
regulation or approvals they may be subject to. We currently have masters
in place with only about 10 utilities/govt's. We are in the process of
negotiating another 30. Until those masters are executed and we have the
relevant resolutions, authority documents and/or legal opinions, I cannot
approve them for online trading. I have made every effort to search company
websites and elicit from Credit whether a counterparty is a regulated utility
or not. If I cannot tell by the information available to me, additional due
diligence will be needed to see if they are subject to local, state, or
federal regulation. Mark can override any decision I have made, I can only
make decisions within the guidelines the attorneys have set for me.
3. Montana Power Trading and Marketing Company is a subsidiary of a
regulated utility. I am unable to determine from Credit or their website
what type of regulation they might be subject to. The note is true that
Credit says they are getting out of the business anyway.
4. Petrotemex. Per my conversations with Mark and our advice from counsel,
unlike U.S. and U.K. counterparties, Mexican counterparties are not able to
enter into derivative transactions unless their articles and bylaws
specifically provide for these types of transactions. We will not know this
until the due diligence is completed, so I am supposed to say "no" for
Mexican counterparties we do not have a master swap agreement in place with.
5. PSEG. It is an energy services company; however, it is also not an
eligible swap participant (or "ESP"). CFTC regulation limits the derivatives
trading we may do to certain types of counterparties that meet certain
financial requirements (large, institutional type investors, companies,
banks, etc). Corporations and partnerships have to meet certain net worth
and asset levels or we cannot trade financially with them. Whenever I say
"not ESP" or "not eligible swap participant" it means they have not met the
financial net worth test.
6. The American Coal Company. See prior note.
---------------------- Forwarded by Tana Jones/HOU/ECT on 10/13/99 04:21 PM
---------------------------
From: Bob Shults 10/12/99 10:15 AM
To: Tana Jones/HOU/ECT@ECT
cc:
Subject: Online Derivatives Trading with Regulated Utilities
Does this mean that we have 10 utilities that are approved to trade? What
are we doing with the other 30-40?
---------------------- Forwarded by Bob Shults/HOU/ECT on 10/12/99 10:14 AM
---------------------------
To: Louise Kitchen/LON/ECT@ECT
cc: Tana Jones/HOU/ECT@ECT, Debbie R Brackett/HOU/ECT@ECT, William S
Bradford/HOU/ECT@ECT, David Port/LON/ECT@ECT, Bob Shults/HOU/ECT@ECT, David
Forster/LON/ECT@ECT, Sara Shackleton/HOU/ECT@ECT
Subject: Online Derivatives Trading with Regulated Utilities
We have not decided "to prevent any regulated utility from completing any
financial transactions" online. If we have already satisfactorily concluded
the necessary due diligence with respect to a particular utility, they will
be approved. It is only with respect to those utilities which have not yet
been researched that we are withholding approval. The due diligence required
involves asking the utility for certain information concerning their
organization and regulatory situation, hiring local counsel in the relevant
state and having research done into the laws and regulations in place there
and into any public utility commission orders respecting the particular
utility in question, and on occasion requesting an opinion letter from the
utility's counsel. We usually begin that process only when a trader believes
there is a likelihood of a sufficient volume of trading with the utility to
justify the time and expense. FYI, the due diligence process has in the past
revealed circumstances which prevented the utility from trading derivatives
or required actions to authorize such trading which had not been taken.
A recent count showed about 10 executed master agreements and another 30 to
40 in one stage or another of the due diligence/negotiation process.
Louise Kitchen
10/06/99 02:46 PM
To: Mark E Taylor/HOU/ECT@ECT, Tana Jones/HOU/ECT@ECT
cc: Debbie R Brackett/HOU/ECT@ECT, William S Bradford/HOU/ECT@ECT, David
Port/LON/ECT@ECT, Bob Shults/HOU/ECT@ECT, David Forster/LON/ECT@ECT
Subject: Customer Data
On Friday we will be receiving the remaining customer list from credit, due
to the timescales I am asking for turnaround on the customer matrix and
master agreement review by the end of play Tuesday 12th October.
Any problems with this please notify me immediately as we are now running up
against very tight deadlines in terms of getting all of the information in
the system for the launch schedule.
Thanks
Louise
Mark,
On another note we are requesting a review of the blanket decision which has
been made to prevent any regulated utility from completing any financial
transactions, if we are not prepared to do the due diligence on which ones
can transact and which ones can not - is this our responsibility or theirs?
ie their decision whether to trade or not.
Louise |
uggggghhhh!!! what a complete and utter pr--k!! i am SO annoyed reading
that story! so even aside from the evening with your parents (which
approaches being understandable) he never was mature at all. i don't have
anything insightful to add to this situation- he appeared so genuine and
wonderful, but deep inside, he is a Californian....i have never been
impressed with California men in general- too self important and unduly
cocky. his loss completely, which you know.
At least you have your plane ticket to London! I'm so excited for you- you
world traveller! You should send out a bulk email update when you return
so that all your friends and family stay informed on your exciting
life....Some friends of mine from NYC who now live in SF are coming in town
this weekend, and we're going to a benefit party at the Zoo. should be
fun. i thought of you also because the symphony called and invited me to
opening night of the Connoisseur Series- wish you were going to be here!
Talk to you soon. And remember: beauty and grace is the best revenge!
Julie
At 03:16 PM 9/21/00 -0500, you wrote:
>In an effort to save a little time I'm forwarding you the email I just sent
>my friend Emily in London. Get back to me if you would like me to expound
>on anything. Turns out he's a real jerk.
>
>Susan
>---------------------- Forwarded by Susan M Scott/HOU/ECT on 09/21/2000
>03:14 PM ---------------------------
>
>
>Susan M Scott
>09/21/2000 02:38 PM
>
>To: [email protected]
>cc:
>Subject: We have closure! (well, sort-of)
>
>I'm soooo good. The chosen path was cool, indifference.
>
>So, last night was Steak Night and with Nick and Wilson both in town we had
>a really good showing. I got there about 7:30 with Nick, and the group's
>size swelled to about 12+ by 8:30 - 9:00. About 8:00 I saw Kevin (Ted's
>pal - the one you meet a steak night) wandering around LW's obviously in
>search of someone. Can you believe it? He (Ted) knew I had organized this
>gathering - I know that because Nick is working right across from he and
>Darren and overheard Darren encouraging Ted's attendance (mind you Ted was
>not in the email distribution) - and he had the nerve to come. Anyway,
>Kevin saw me and came over to chat. He informed me that "our friend Ted
>should be there shortly" to which I responded, "You would know better than
>me at this point". The subject was dropped until he felt the need to raise
>it again. He asked if Ted and I parted on good terms/ bad terms, etc. I
>said there really weren't any terms, I just hadn't heard a peep out of him
>for about 2 weeks. Kevin wanted to know if I was going to break a bottle
>over Ted's head and cause a big scene. When I said no, I think he was
>genuinely disappointed. I said in order for me to do something like that I
>would have to care about the "loss" and that, while a week or two earlier I
>might have cared a bit more, with each passing day the "loss" seems less
>and less like much of a loss. Kevin told me I was better-off without Ted.
>To go even further, he informed me that there is no way he would ever let a
>daughter of his date Ted nor any of his "girl-friends". He said that while
>he thought Ted was a great guy (i.e. fun to be around, good stories, etc.)
>he wasn't good dating material. I agreed with Kevin saying "Ted is a great
>guy, he just makes a lousy man" (don't you like that one?). I then went on
>to say "Anyway, I'm destined for bigger and better things, right?". Kevin:
>"Much bigger and much better." About this time my parents showed up...the
>plot thickens. I introduced Kevin to my parents and since both my Dad and
>Kevin were in the Navy and attended Colorado they had much to talk about.
>The two of them had probably been talking for about half an hour when
>"dum-da-dum-dum" Ted shows up. He approaches our group because he sees
>Kevin and is forced to make eye-contact with me. I give him a "hey" and he
>gives me the arm squeeze and a much too pleasant "how's it going?". He
>asked what Kevin and my Dad were talking about, I told him the Navy, he
>said don't get Kevin started or you'll never shut him up...Then he walked
>away. He never acknowledged my parents nor did he ever speak to me again
>the rest of the evening. The beautiful thing is Kevin stays and talks with
>my Dad for another half hour and when Darren shows up he hangs out with "my
>group" for quite a while before going to join Ted. My parents and I ate
>our steaks right behind Ted and then went back over to our group at the
>picnic table when we were finished. It really was a great night. I would
>almost say I was glowing (I was having so much fun with my friends and
>family and it wasn't a show for Ted's benefit...I really was having a great
>time). So, when my parents decide to head out they walked over to
>Ted/Kevin's table to say good-bye to Kevin. It was awesome. Ted's sitting
>right next to Kevin while Kevin and my Dad are talking and appears to be
>actually shrinking in his chair. Yet again no acknowledgement of my
>parents - he couldn't even make eye-contact. I ended up staying there for
>at least another hour and then went with a few of the guys to the Ale
>House. Needless to say I was very hung over today. Anyway, there's the
>story...He's a complete and utter ass-hole. So I'm done. And no, there is
>no way he could weasel his way back in to my good graces.
>
>Now on to a fun subject, my trip to London. I bought my ticket today ( I
>think I got hosed a little bit, but it was the cheapest ticket I could find
>- $450 before taxes). I will arrive at Heathrow airport around 7:00 a.m.
>Friday the 6th and depart about 11:00 a.m. on Tuesday the 10th. I'm very
>excited about the trip, I really need to get out of Houston. I leave the
>activities in your capable hands. ( bear in mind I will have to see Darren
>and Nick at some point).
>
>"Single again" Sue
>
> |
Aslo, a few links are below.
From BusinessWeek in 1997 http://www.businessweek.com/1997/30/b353757.htm
COMMENTARY: IN THE NEW ECONOMY, THE OLD RULES STILL LIVE
These are tough times for traditional inflation theory. A
soaring U.S. economy,
fueled by the forces of globalization and technology, has
pushed joblessness
down to levels not seen in decades. But consumer inflation
remains tame, and
producer prices are actually falling. Convinced that the New
Economy can
continue along this course, investors have bid the stock market
to new highs.
But there's a more classical view of the economy that still
should be heeded.
Virtually all mainstream economists say it's too early to scrap
economic theories
that for decades have reliably predicted inflation. Ignoring
these basics is
especially risky in a high-flying financial climate that is
sensitive to Federal
Reserve policy decisions.
INFLATION AND JOBS. First, a review of the Econ 101 lectures
you may
have slept through. The topic: Phillips curve theory and the
concept of NAIRU, a
clunky acronym for ''non-accelerating-inflation rate of
unemployment.'' Together,
these relate joblessness and inflation--NAIRU being the jobless
rate at which
inflation is stable. The Phillips curve/NAIRU model suggests
that inflation is
caused by excess demand--demand beyond what available workers and
machines can satisfy. The excess occurs when the jobless rate
dips below
NAIRU, causing wages and inflation to accelerate. But the
process doesn't end
there. Higher inflation reduces demand and labor markets
readjust, pushing
joblessness back to the NAIRU level. But the inflation persists
at the higher level,
partly because people adjust to it.
Despite the current, unusual situation of low unemployment and
low inflation, the
old model is alive and well among economists--and at the Fed.
''I am a strong
and unapologetic proponent of the Phillips curve and the NAIRU
concept,'' says
Federal Reserve Governor Laurence H. Meyer. Chairman Alan
Greenspan,
warming to the New Economy, is less enamored. But he
appreciates the model's
solid track record.
The Phillips/NAIRU model has practical limitations. But
understanding those
limits doesn't mean junking the theory. The model can still
work, but it's crucial to
peg the level of NAIRU--a moving target. Before globalization
and technology
pushed NAIRU below 6% a few years ago, the model had a
two-decade run as
one of forecasters' best-performing tools. Now NAIRU may be
even lower than
the generally accepted range of 5 1/2% to 5 3/4%.
It can take a year or more for inflation to pick up after a gap
opens between the
unemployment rate and NAIRU. That's why the Fed's experiment to
test the
economy's inflationary limit is dangerous. The wider the gap,
the more inflation
will rise--and it will not fall until the jobless rate exceeds
NAIRU. That is, until the
Fed steps in to clamp down on the economy, thus throwing a lot
of people out of
work.
ECONOMIC WINDFALLS. Another consideration: The Phillips/NAIRU
model cannot reflect good economic luck, and this U.S. business
cycle has had
more than its share: falling oil prices, a stronger dollar, and
weaker growth among
overseas competitors. Also, a slowdown in benefit expenditures
has curbed labor
costs, even as wage growth has picked up--as the model predicts.
Right now, the model does not forecast any strong pickup in
inflation. But for
every half point the jobless rate stays below NAIRU for a year,
inflation will
accelerate by a quarter point. And a stronger second half could
send the
unemployment rate even lower.
That's great--if you're seeking employment. But traditional
inflation theory says
that, if the Fed's current gamble with tight job markets fails,
the costs of excess
demand now will be foregone output and income later on. Even in
the New
Economy, the old approach to gauging future inflation should
scarcely be
ignored--it should be embraced.
By James C. Cooper
Updated July 17, 1997 by bwwebmaster
Copyright 1997, by The McGraw-Hill Companies Inc. All rights
reserved.
Terms of Use
LINKS
I) My colleague Brad DeLong has a nice multimedia demonstration. Check out
his site, being sure to let pages run for a minute or 2:
http://econ161.berkeley.edu/multimedia/PCurve1.html
II) A British on-line model of the economy has two articles / sub-sites:
1. Unemployment Theories - Phillips Curve - Is unemployment inflated?
http://bized.ac.uk/virtual/economy/policy/outcomes/unemployment/unempth4.htm
and 2. Inflation Worksheet - The Phillips Curve - Trading off
unemployment and inflation
http://bized.ac.uk/virtual/economy/policy/outcomes/inflation/inflws2.htm
III) Nouriel Roubini has an overview article and additional links to the
current debate on NAIRU and limits to growth at
http://equity.stern.nyu.edu/~nroubini/NAIRU.HTM
David I. Levine Associate professor
Haas School of Business ph: 510/642-1697
University of California fax: 510/643-1420
Berkeley CA 94720-1900 email:
[email protected]
http://web.haas.berkeley.edu/www/levine/ |