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[IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] Hello John: Too much turkey! Don't you feel like you need a good work-out after Thanksgiving? That's why this is the perfect weekend to get out of the house, break a sweat, and burn some of those post-tryptophan calories! Whether you're in the mood to hike, ski, bike, or just walk briskly, check out this week's Site59 Top Picks below to see all the adventures we have in store for you! [IMAGE] out of Houston. Click here to find another Getaway. [IMAGE] [IMAGE] [IMAGE] Sarasota, FL (via Tampa): Clowning Around A Cultural Coast Turn that frown upside-down to clown around on Florida's cultural coast. From $ 286 + tax* pp, based on dbl. occupancy, including flight & hotel [IMAGE] [IMAGE] [IMAGE] [IMAGE] Cleveland, OH: Emerald City Don't go inside this weekend! Cleveland's parks are true gems you don't want to miss! From $ 305 + tax* pp, based on dbl. occupancy, including flight & hotel [IMAGE] [IMAGE] [IMAGE] [IMAGE] Steamboat Springs, CO: Rocky Mountain Round-Up Pack up your posse and trot or bike your way into the Rocky Mountains. From $ 346 + tax* pp, based on dbl. occupancy, including flight & hotel [IMAGE] [IMAGE] [IMAGE] [IMAGE] Palm Springs, CA: Wildlife, Wildflowers and Waterslides Marvel at the natural beauty of Palm Desert and cool off with some man-made fun. From $ 442 + tax* pp, based on dbl. occupancy, including flight & hotel [IMAGE] [IMAGE] [IMAGE] [IMAGE] Tucson, AZ: The Decadent Desert The Santa Catalina mountains around the Sonoran Desert rise to the fine tastes of Tucson's population. From $ 450 + tax* pp, based on dbl. occupancy, including flight & luxury hotel [IMAGE] [IMAGE] [IMAGE] [IMAGE] Whistler Blackomb, Canada: Whistle while you...Play Whistle as you walk, bike, ride, fish, or jet boat your way around the Coastal Mountain Range. From $ 578 + tax* pp, based on dbl. occupancy, including flight & hotel [IMAGE] [IMAGE] [IMAGE] [IMAGE] Montego Bay, Jamaica: Patois Party Primer If you want a Jamaican boonoonoonoos (beach party), no problem, mon -- Jah provides! From $ 675 + tax* pp, based on dbl. occupancy, including flight & hotel [IMAGE] All Site59 packages have limited availability. Package price varies based on departure city, number of travelers and length of stay. Due to Site59's dynamic pricing, prices may change after email is sent, resulting in a different price on the site from that listed in the email. The price listed on the site is the most current and will supersede the listed email price. For complete details about buying packages and using Site59, please see our Terms of Service . Copyright 2001 Site59.com, Inc. All rights reserved. This email is being delivered to you because according to our records, you requested information about Site59 offerings. SEE BELOW TO UNSUBSCRIBE. Our apologies if you've received this Site59 email in error. TAX INFORMATION Package prices are in USD, and do not include a federal excise tax of up to $2.75 per each U.S. domestic flight segment or up to $18 per round trip in local airport charges. Prices for Hawaii destinations do not include U.S. Transportation Fee of $13 per round trip. Prices for Canada destinations do not include applicable Federal Inspection Fee of $6 per round trip. International prices do not include government taxes and fees of up to $98 per round trip. Displayed prices of packages including hotel rooms and/or rental cars do not include certain taxes, fees and surcharges, which vary based upon the city and state of travel, airport, rental car company and in some cases, car type. Any such taxes, fees and surcharges will be calculated and displayed to you prior to purchase. Additional charges you may incur, however, such as extra-person charges, extra-bed charges, resort fees, gratuities, energy surcharges, parking fees, telephone fees, room service, movies, mini-bar, insurance, gasoline, extra-driver fees and similar incidentals are not included in the package price. [IMAGE] [IMAGE] [IMAGE] [IMAGE] Site59 European Escapes! Give to yourself this holiday season: Enjoy a spontaneous adventure abroad! Amsterdam, Holland: Ogle Van Gogh, Revel in Rembrandt From $ 557+ tax pp, based on dbl. occupancy, including flight & hotel Madrid, Spain: Oye Goya Va! From $ 527+ tax* pp, based on dbl. occupancy, including flight & hotel Rome, Italy: Rome if You Want to... From $ 567+ tax* pp, based on dbl. occupancy, including flight & hotel Prices reflect lowest available. Please click the link to see if your departure city is available. [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] Sent by a friend? Like what you see, subscribe now! [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] Find your Getaway, Fast and Easy Ready to hit the slopes? Find a ski getaway. Time to start your holiday shopping? Check out our shopping getaways! Feel like visiting a friend this weekend? Find a FlightPlus package. Have your flight but need a place to stay? HotelPlus is for you. For everything you need, find Flight & Hotel packages, too. And don't forget, when you have a question about Site59, the first (and best!) place to look is the Customer Service FAQ . Read it now and be prepared. [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] About Site59 \| Press \| Customer Service \| Privacy Policy \| Terms of Service [IMAGE] This message was sent by Site59.com using Responsys Interact (TM). Click here if you prefer not to receive future e-mail from Site59.com. Click here to view our permission marketing policy. [IMAGE]
What's up? How's the week going? Things are getting back to normal down here in Houston. How's your brother doing - has he gone back to work? -----Original Message----- From: [email protected]@ENRON [mailto:[email protected]] Sent: Tuesday, September 18, 2001 2:08 PM To: [email protected]; [email protected]; Rogers, Benjamin; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected] Subject: Read this How amazing is this story. I worked with the father, he was an old H&Q guy and if anyone remembers, he is the one I used to smoke cigarettes with in his office. I am sure you remember when I went out to his funeral. Anyway, this story shows you just how amazing Rudy is after everything that has happened. RUDY KEEPS HIS WORD By KIRSTEN DANIS, DAVID SEIFMAN and BILL HOFFMANN September 17, 2001 -- Diane Gorumba of Brooklyn beamed with pride yesterday as Mayor Giuliani walked her down the aisle - and helped erase a nightmarish year of tragedy for the Brooklyn bride's family. The mayor kept a promise he made last month to Diane, 23, after her firefighter brother, Michael, who was supposed to give her away, died Aug. 28 while fighting a three-alarm blaze on Staten Island. "We will go on. This proves it right here. The mayor came here - he thought about us," the beaming newlywed said as she jumped into a limo with husband, Michael Ferrito, 31, a police officer at the 61st Precinct. Diane has already lived through 12 months of her own horrors. Her grandfather died Sept. 13, 2000, and 17 days later, her dad, an executive at J.P. Morgan Chase, also passed away. With her father gone, she asked her brother, a member of Engine Co. 163, to walk her down the aisle at St. James Lutheran Church in Gerrittsen Beach, and he agreed. Then, the Staten Island fire tragedy took Michael's life. At Michael's funeral, Diane sadly lamented to her mom, Gail, that there was nobody to escort her up to the altar. She half-jokingly turned to the mayor and asked, "Why don't you do it?" "I'd be honored," Giuliani replied, without missing a beat. Yesterday morning, Giuliani - who has been working round the clock since the Twin Towers horror - said the wedding meant "a great deal to him." The mayor recalled asking Gail Gorumba, after her son died, how she has kept going through her grief. "She feels the pain of it, she allows the pain to happen," Giuliani said. "But then she focuses on the good things that are left in life, like her daughter's wedding. I thought about that a good deal of time this week." The bride and groom's families said they will be eternally grateful to him. "It meant more than I can ever, ever say. He's the best, and I wish we could re-elect him" Diane said. As 225 people jammed the quaint 77-year-old church, the mayor gave Diane his left arm. Smiling happily for perhaps the first time since the Tuesday disaster, Giuliani - clad in black tie with a white rose in his lapel - slowly strode down the aisle and brought Diane to the groom. Then he lifted her veil and kissed her on the cheek. As the 30-minute ceremony proceeded, the mayor sat in the front row with the bride's mom. Afterward, Giuliani got into his car to head back to Manhattan, and the serious work at hand. Patty Donahue JP Morgan H&Q ph 212-834-4902 fx 212-834-6066 [email protected]
----- Forwarded by Cindy Derecskey/Corp/Enron on 08/25/2000 04:00 PM ----- "Martin, Kim" <[email protected]> on 08/25/2000 03:51:17 PM To: "'[email protected]'" <[email protected]> cc: Subject: fyi Didn't know if you saw this column in today's LA Times, but he makes some good arguments... > JAMES FLANIGAN: Simple Steps May Ease Self-Inflicted > Electricity Woes > Los Angeles Times -- August 25, 2000 [Return to Headlines] > > > Publication Date: Friday August 25, 2000 > Page C-1 > Los Angeles Times (Home Edition) > Copyright 2000 / The Times Mirror Company > By JAMES FLANIGAN > > Let's be clear, the fact that the state botched the job of > deregulation to begin with is one reason California's electricity market > is such a mess. > > But failure to build a single new power plant in the state > even as California's economy expanded its use of electricity is the basic > cause of today's shortages and soaring prices in San Diego, Orange County > and other areas. > > Still, some simple steps can be taken by regulators, > legislators and Gov. Gray Davis to provide immediate relief. > > The state's major utilities should be free to buy power > wherever they can get it. They should not have to buy exclusively from the > Power Exchange, the Pasadena-based power pool that was set up by the 1998 > deregulation to achieve auction-based prices for roughly 80% of the > state's electricity. > > Approval should be expedited for adding smaller generating > plants that supply power at times of peak demand. That could alleviate a > tight supply-demand situation over the next year or two while larger > plants are built. > > Long term, the state needs to speed up the approval process > for building new electricity plants. The state also should force utilities > to invest in the still-regulated system of power transmission lines, which > now has weaknesses in the San Diego and San Francisco areas. > > Perhaps the most glaring fact about California's electricity > problem is how few companies have stepped up to supply power to this > enormous market, the nation's biggest. Only 15 or so suppliers, including > federal agencies, the state's own utilities, municipal companies and > private generating firms, supply power to California's system. > > By contrast, Pennsylvania, which has an electricity market > less than 12% the size of California's, has 130 separate suppliers of > electricity today, reports John Quain, chairman of that state's Public > Utility Commission. > > It's no coincidence that Pennsylvania has seen monthly > electric bills drop 3% on average since deregulation. "It's worked out > terrifically," Quain says. > > What did California do wrong? It allowed the state's major > utilities--Pacific Gas & Electric, Southern California Edison and San > Diego Gas & Electric--to recover 100% of their unrecovered or "stranded" > costs for nuclear and hydroelectric plants and for past power purchase > schemes mandated by the California legislature to encourage alternative > sources of energy. > > Then California's legislators told the utilities to sell > their conventional power plants to private generating companies, all of > which would sell their power to a central Power Exchange. > > The California scheme was flawed, at once over-regulated and > yet commercially clueless in not foreseeing trouble from a single power > pool fed by only a handful of suppliers. > > How did Pennsylvania do it? It allowed the state's utilities > to recover no more than 67% of their stranded costs for nuclear > plants--reasoning that company shareholders should accept some of the risk > of their investments. And rather than set up a central power exchange, the > state allowed its utilities and newcomers to the state's electric system > to compete for business. > > Competition, after all, is what deregulation is supposed to > encourage. And competition is not happening in California. > > It should be noted that the summer is relatively cool in the > East this year and extraordinarily hot throughout the West. All the > Western states are suffering electricity problems. That's another reason > for California's trouble. > > Normally, 28% of California's electricity comes from U.S. > and Canadian government systems and from utilities in Oregon and > Washington, Nevada and Arizona. But this year, because of lower > hydroelectric supplies and higher demand from booming economies in those > other states, power for California is in shorter supply and more expensive > when the state can get it. Now there are accusations that some suppliers > to California have taken advantage of their market leverage to extract > premium prices for power. > > There's nothing illegal in angling for a better price or in > using futures markets and other trading techniques, as some generators may > have done. If any stepped over the line to illegal collusion, federal and > other investigations will determine the facts. > > But who gave the generators the market leverage to exploit > us? The California regulators, legislators and utilities did. Told to sell > their generating plants in 1998, the utilities sold dozens of plants in > package deals of two and three to single buyers. They received premium > prices from buyers such as AES Corp., Duke Energy, Southern Co. Reliant > Energy, Dynegy and NRG. The premiums were paid for the market leverage > that multiple plants afforded the buyers. > > Nobody in the utilities reckoned that they were handing > market leverage to potential commercial adversaries. Nobody in the > Legislature or the regulatory staffs reckoned that the central Power > Exchange could be held up by market leverage. > > As outsiders often say about Californians: "Maybe it's the > sunshine makes them slow." > > (END) > > 05:23 EDT August 25, 2000 > Copyright , 2000 Times Mirror Company > > > >
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 ------------------------------------------------------------ You received these headlines because you requested The New York Times Direct e-mail service. To cancel delivery, change delivery options, change your e-mail address or sign up for other newsletters, see http://www.nytimes.com/email 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 Racer at [email protected] or visit our online media kit at http://www.nytimes.com/adinfo
Company: 000236 Arng: 37147-00151 Eff Date: 2001-11-27 ----- Receipt ----- ----- Delivery ----- Quantity Cut CD Quantity Cut CD Nominated 5,900 5,900 Working 5,900 5,900 Capacity Allocation 5,900 5,900 Confirmed 0 0 POBA Company: 000236 Arng: 37147-01961 Eff Date: 2001-11-27 ----- Receipt ----- ----- Delivery ----- Quantity Cut CD Quantity Cut CD Nominated 1,767 1,767 Working 1,767 1,767 Capacity Allocation 1,767 1,767 Confirmed 0 0 POBA Company: 000236 Arng: 37147-15052 Eff Date: 2001-11-27 ----- Receipt ----- ----- Delivery ----- Quantity Cut CD Quantity Cut CD Nominated 10,000 10,000 Working 10,000 10,000 Capacity Allocation 10,000 10,000 Confirmed 0 0 POBA Company: 000236 Arng: 37147-15055 Eff Date: 2001-11-27 ----- Receipt ----- ----- Delivery ----- Quantity Cut CD Quantity Cut CD Nominated 5,000 5,000 Working 5,000 5,000 Capacity Allocation 5,000 5,000 Confirmed 0 0 POBA Company: 000236 Arng: 37147-15058 Eff Date: 2001-11-28 ----- Receipt ----- ----- Delivery ----- Quantity Cut CD Quantity Cut CD Nominated 5,000 5,000 Working 5,000 5,000 Capacity Allocation 5,000 5,000 Confirmed 4,167 NGU 4,167 Company: 000236 Arng: 37147-15059 Eff Date: 2001-11-28 ----- Receipt ----- ----- Delivery ----- Quantity Cut CD Quantity Cut CD Nominated 5,000 5,000 Working 5,000 5,000 Capacity Allocation 5,000 5,000 Confirmed 4,167 NGU 4,167 Company: 000236 Arng: 37147-15060 Eff Date: 2001-11-28 ----- Receipt ----- ----- Delivery ----- Quantity Cut CD Quantity Cut CD Nominated 5,000 5,000 Working 5,000 5,000 Capacity Allocation 5,000 5,000 Confirmed 4,167 NGU 4,167 Company: 000236 Arng: 37147-15061 Eff Date: 2001-11-28 ----- Receipt ----- ----- Delivery ----- Quantity Cut CD Quantity Cut CD Nominated 10,000 10,000 Working 10,000 10,000 Capacity Allocation 10,000 10,000 Confirmed 8,331 NGU 8,331 Company: 000236 Arng: 37147-15065 Eff Date: 2001-11-27 ----- Receipt ----- ----- Delivery ----- Quantity Cut CD Quantity Cut CD Nominated 2,300 2,300 Working 2,300 2,300 Capacity Allocation 2,300 2,300 Confirmed 0 0 POBA Company: 000236 Arng: 37147-15172 Eff Date: 2001-11-28 ----- Receipt ----- ----- Delivery ----- Quantity Cut CD Quantity Cut CD Nominated 1,500 1,500 Working 1,500 1,500 Capacity Allocation 1,500 1,500 Confirmed 1,250 NGU 1,250 Company: 000236 Arng: 37147-15182 Eff Date: 2001-11-28 ----- Receipt ----- ----- Delivery ----- Quantity Cut CD Quantity Cut CD Nominated 3,500 3,500 Working 3,500 3,500 Capacity Allocation 3,500 3,500 Confirmed 2,917 NGU 2,917 Company: 000236 Arng: 37147-15183 Eff Date: 2001-11-28 ----- Receipt ----- ----- Delivery ----- Quantity Cut CD Quantity Cut CD Nominated 5,000 5,000 Working 5,000 5,000 Capacity Allocation 5,000 5,000 Confirmed 4,167 NGU 4,167 Company: 000236 Arng: 37147-15184 Eff Date: 2001-11-28 ----- Receipt ----- ----- Delivery ----- Quantity Cut CD Quantity Cut CD Nominated 5,000 5,000 Working 5,000 5,000 Capacity Allocation 5,000 5,000 Confirmed 4,167 NGU 4,167
[IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] In the News May 30, 2001 [IMAGE] [IMAGE]Bertelsmann to buy Myplay [IMAGE]RealNetworks snags Intel deal [IMAGE]IBM looks to Japan for Linux progress [IMAGE]Tiger Woods caddies for sports site [IMAGE]Hoax has victims trashing harmless file [IMAGE]Amazon sellers fuming over glitch [IMAGE] [IMAGE] [IMAGE] [IMAGE] Perspectives [IMAGE] [IMAGE] CIOs unplug Chuck Phillips explains how tougher economic times mean making tough-minded decisions. Read Full Story [IMAGE] [IMAGE] Bertelsmann to buy Myplay Bertelsmann E-Commerce Group, the German media giant's online retail division, will acquire online music locker Myplay, according to people familiar with the negotiations. The acquisition will allow BeCG to thread Myplay's music-storage service throughout its other online retail brands, such as CDNow and its BMG Music Service record club. People who purchase compact discs through these services will be offered ways to store digital versions of their purchases on Myplay, the sources said. May 29, 2001, 6:50 p.m. PT \| Read Full Story [IMAGE] RealNetworks snags Intel deal Looking to strengthen its position in the streaming media market, RealNetworks on Wednesday said it has signed an agreement with Intel to ship its technology with the main circuit boards that power PCs. Under the terms of the deal, the Seattle-based company's RealPlayer and RealJukebox software will be distributed with two new Intel desktop PC motherboards that support the chipmaker's Pentium III and Celeron processors, the company said in a statement. May 30, 2001, 8:30 a.m. PT \| Read Full Story [IMAGE] IBM looks to Japan for Linux progress IBM is participating in two Japanese initiatives to improve Linux, projects that illustrate the peculiar nature of the development of the operating system. The first is a joint project among Big Blue and Japanese server leaders NEC, Fujitsu and Hitachi to improve Linux for big businesses. The second project, separate but with similar goals, is a new Japanese branch of the Open-Source Development Lab (OSDL), where programmers can test their software on expensive high-end systems. May 30, 2001, 9:35 a.m. PT \| Read Full Story [IMAGE] Tiger Woods caddies for online sports site An online sporting goods retailer hopes Tiger Woods can work his golf course magic in the e-commerce arena--the most recent in a string of questionable partnerships between celebrities and dot-coms. Fort Lauderdale, Fla.-based CBS SportsLine announced Wednesday that it has broadened a 1997 deal with the world's top-ranked golfer through 2002. SportsLine will become the official English-language Internet sports media partner of Woods' official site. May 30, 2001, 10:30 a.m. PT \| Read Full Story [IMAGE] Hoax has victims trashing harmless file A hoax e-mail warning people that their PCs may contain a virus called sulfnbk.exe is propagating in the United Kingdom and tricking its victims into trashing a harmless, and potentially helpful, Windows utility. The e-mail is circulating in the United Kingdom, advising people to delete a harmless Microsoft Windows utility called sulfnbk.exe from their hard disks. Antivirus experts were quick to point out that the e-mail does not contain a worm and is being passed around by well-meaning people alarmed at its contents. May 30, 2001, 11:15 a.m. PT \| Read Full Story [IMAGE] Amazon sellers fuming over auction glitch Several Amazon.com auction sellers say the e-commerce giant is not delivering a service they say they have bid on and paid for. Sellers pay Amazon to promote their listings in prominent places on its auction site. But in the last several weeks, sellers have said Amazon has not been promoting auctions on one of its most heavily viewed pages, even though it has continued to charge sellers for the service. May 30, 2001, 11:35 a.m. PT \| Read Full Story [IMAGE] [IMAGE] Autoweb - Click Here! [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] Readers prompted to pony up Dave Kansas, editor in chief of TheStreet.com, says that although paying subscribers are down, he sees a solid future for the fee-based model. [IMAGE] Watch Video [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] Enterprise JDS, Oplink settle patent litigation Hacker helps Excite@Home toughen defenses AMD server chips face tough audience E-Business Dot-com job cuts taper off in May FTC: Amazon privacy practices "deceptive" Dot-coms set sights on bigger customers Communications Optical stocks sink on downgrade AT?split-off to be tax-free Alcatel issues surprise warning Media ICANN to settle on what's in a .name Spam maker cans spam complaint Deal concerns batter RealNetworks Personal Technology RadioShack profits to sag Gateway enters PC price war Hype boosts video game maker [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] Investor Dispatch News.Context More CNET Newsletters For prompt service, please include the email address used for your subscription on any correspondence with us. 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FYI -----Original Message----- From: Ralph, Susan Sent: Monday, October 29, 2001 2:18 PM To: Bouillion, James L. Cc: Clayton, Paul; Hayslett, Rod Subject: RE: Insurance I promise I will let you know if plans diviate....I am constantly trying to get this together over here. James L Bouillion/ENRON@enronXgate 10/29/01 01:52 PM To: Susan Ralph/Houston/Eott@Eott cc: Paul Clayton/ENRON@enronXgate, Rod Hayslett/ENRON@enronXgate Subject: RE: Insurance We are planning on your placing separate coverage by 12-31-01. You have not been allocated any property premium for the period 1-1-02 to 3-31-02. If you wish to remain in the Enron program for the period 1-01-02 to 3-31-02, we will allocate premium to EOTT and you should budget accordingly. For the Enron Property package renewal 04-01-02, we are not including EOTT assets which also means that, the MTBE plant is also, not included. If you decide to postpone marketing a separate program for EOTT, we need to know as soon as possible in order to adjust our market plan. We are holding property renewal strategy meetings today and tomorrow. -----Original Message----- From: Ralph, Susan Sent: Friday, October 26, 2001 3:47 PM To: Bouillion, James L. Cc: Clayton, Paul Subject: RE: Insurance I have a tentative meeting next week with Wortham...to strategize on when to go to market. I will let you know then. I will take this out as soon as I can and it makes sense....I know you need to make decisions and I will do everything I can not to mess you around. It seems these days those that they stars are controlling destinys more than we are....so I am leary about over committing. (sighs) Also FYI I am talking with AIG about a tack on to the TEXNew MEx policy. I know Rod and talked to you briefly about this and just wanted to let you know what I was doing. James L Bouillion/ENRON@enronXgate 10/26/01 03:43 PM To: Paul Clayton/ENRON@enronXgate, Susan Ralph/Houston/Eott@Eott cc: Subject: RE: Insurance Susan, we would also like to know how your marketing of the property is progressing as we are not currently including your assets in our renewal activities. Our policy does not renew until 04-01-01, however the renewal process starts next week. Please advise. -----Original Message----- From: Clayton, Paul Sent: Friday, October 26, 2001 3:24 PM To: Ralph, Susan Cc: Bouillion, James L. Subject: RE: Insurance Susan, As you know, your 2002 property allocation does not include property insurance as your intention is to be out of the program by 12/31/01. Please advise when this occurs so we can notify the insurance underwriters accordingly. Thanks for sending the attached. Paul -----Original Message----- From: Ralph, Susan Sent: Friday, October 26, 2001 3:13 PM To: Bouillion, James L. Cc: Clayton, Paul Subject: RE: Insurance Jim I can pull this together for you next week maybe...but I may need to fly to NYC. I can readily send you premium dollars but unfortunately they also include what I pay you and therefore I would need to break out these costs so you don't double count them. BUt maybe you can work with the spread sheet and get enough to get you what you need. Please bear in mind I have not looked at this report closely ...so you are getting it "as is" << File: Book2.xls >> James L Bouillion/ENRON@enronXgate 10/26/01 02:51 PM To: Susan Ralph/Houston/Eott@Eott cc: Paul Clayton/ENRON@enronXgate Subject: RE: Insurance We are trying to compile the total cost of risk or total insurance spend for all of Enron. You participate in some of our programs and you are spending premium dollars in the market and therefore would be part of the "big picture". For EOTT, an accurate report would include, in addition to actual premiums, the amounts spent, or Eott's out of pocket expense, within the deductibles I thought this would be something that you would have readily available and could be provided on short notice. Please send to Paul's attention. I am available if you wish to discuss. -----Original Message----- From: Clayton, Paul Sent: Friday, October 26, 2001 1:47 PM To: Bouillion, James L. Subject: FW: Insurance -----Original Message----- From: Clayton, Paul Sent: Thursday, October 25, 2001 8:01 AM To: Ralph, Susan Subject: RE: Insurance This has been requested by Jim's boss, Per Seske, which does include EOTT. Please forward as soon as possible. I thought I sent a copy via interoffice mail, I will send another copy. -----Original Message----- From: Ralph, Susan Sent: Thursday, October 25, 2001 7:45 AM To: Clayton, Paul Subject: Re: Insurance Are am not clear on what you want this for...can you explain ? Does this even apply to me? Also I never received the copy of that property policy and I need it. Did you send it? Paul Clayton/ENRON@enronXgate 10/22/01 11:30 AM To: Ron E Wells/EFS/EES@EES, Darrell Orban/EWC/Enron@ENRON, Susan Ralph/Houston/Eott@Eott, Jim Menning/ENRON@enronXgate, Peter Hutchinson/Stockton/TS/ECT@ECT cc: James L Bouillion/ENRON@enronXgate Subject: Insurance We are attempting to determine the total cost of risk for Enron which necessitates gathering information from the Enron entities that place their own insurance. We need to have information broken down on your individual programs as well as for project specific programs which you place. We would like a complete schedule to include the following: ? type of coverage, ? limits, ? deductibles / retentions, ? premiums. We assume that you have this information and can forward in short order. Unfortunately due to the short timeline, please forward no later than Wednesday, October 24. Please call me at 713-853-7904 should you have any questions. Regards, Paul
Please define close? Also, what is the outstanding issue with Redwood? Please set up another meeting with a copy of the actual flows to Palo, sales prices, third party deals and an example of an invoice. I would like to walk through the deal. Thanks, Mike -----Original Message----- From: Bike, Anne Sent: Wednesday, October 03, 2001 7:25 AM To: Grigsby, Mike Subject: RE: Palo Alto historical loads I met with Settlements on Friday, and we were relatively close for the August invoice. The Redwood Gas is an outstanding issue for us and Palo Alto. When we finished on Friday we left a few action items, but my take on the meeting was that we have the deal in the system in a manner that will flow to the back office groups relatively smoothly. I will keep you posted. Thanks Anne -----Original Message----- From: Grigsby, Mike Sent: Tuesday, October 02, 2001 1:54 PM To: Bike, Anne Subject: RE: Palo Alto historical loads How is this issue? -----Original Message----- From: Bike, Anne Sent: Wednesday, September 19, 2001 7:15 PM To: Grigsby, Mike Subject: RE: Palo Alto historical loads I will set up a meeting with settlements to make sure that everything looks good from their end, and to clarify the payments that are made. I also need to meet with volume management to emphasize how the volumes should be allocated when the actuals arrive from the pipeline statements. I think that Daniel has the scheduling issues under control. Jason, Daniel, and I worked to get everything straight for September. October will not be much different. The only exception for October is that we do not have any third party gas coming from Enron, only BP. This actually makes life easier. As soon as I meet with the 2 back offices groups, I will report what I learned. Based on my meetings with settlements during July's process, I am confident that the deal is booked as well as the system can handle. However, checking and double checking the processes will not hurt. I will schedule something with you and Kim after my other meetings. Hopefully next week. Imbalances for Rockies and Citizens - I will let you know. We just finished cleaning up the SOCAL imbalances. We are clear through June as far as P/L is concerned. I think Matt Smith was working on July. We did have some old issues to clean up as the process was passed from Kim O. to Jane, but we have worked through the problems. Thanks for the note on the group. I am holding a learning lunch tomorrow. I want to make sure that our processes are as tight as possible, especially since bid-week is coming up. We have a good method for checking that all of the failed desk to desk deals are booked correctly, so it should go more smoothly. It will still be slow. Also, Randy Bhatia is working with EOL on resolving their logic issues. We are working towards a solution that will get the deals booked automatically. I will let you know the time line soon. I have a question. What does the "Wood" report mean ? See you. Anne -----Original Message----- From: Grigsby, Mike Sent: Tuesday, September 18, 2001 8:51 PM To: Bike, Anne Subject: RE: Palo Alto historical loads Disregard attachments. How does the system know not to pay Palo for the gas daily deal at malin? You did this because gas daily will not show up as risk and Kim puts together a manual invoice and will not pay them for the third party supply? I want this deal to flow in the event Kim decides to travel the world. Please set up another meeting to discuss this deal. i will never understand. is it just me? Also, i still need to clean up imbalance deals from July with citizens and in the rockies. By the way, you are doing a great job. It seems like your group is getting their books run early. Also, have you ever talked to your group about secrecy and the fact that we never tell anyone in the market about P&L and/or positions. Just a reminder. You may want to talk to them about confidentiality. You never know who has a roommate from college at El Paso or Dynegy. Right? -----Original Message----- From: Bike, Anne Sent: Tue 9/18/2001 3:56 PM To: Grigsby, Mike Cc: Subject: RE: Palo Alto historical loads Mike: Am I supposed to do something with the attachments ? They did not transfer through on the e-mail you forwarded. Kim has never given me any additional information regarding the loads. All we did on this deal recently was book the newest fixed price deal at Malin, and book the BP volumes (3rd party deals) that have been projected at Malin. On the BP gas: ..... We book a deal in which ENA purchases gas from Palo Alto at Gas Daily flat. Daniel Schedules the gas on the transport directly from BP. We enter the purchase in our system to show that you have 1,500 mmbtu/day at Malin that must be put on the transport to City Gate. We have not rebooked the origination. I am still using the estimated burns that were given to me at the inception of the deal. Let me know if this clears everything up. Thanks Anne -----Original Message----- From: Grigsby, Mike Sent: Tuesday, September 18, 2001 2:52 PM To: Ward, Kim S (Houston); Bike, Anne Subject: RE: Palo Alto historical loads Will show me how this deal and the orig was rebooked? Also, please show me how the third party deals were booked. Mike -----Original Message----- From: Ward, Kim S (Houston) Sent: Tuesday, August 28, 2001 6:44 PM To: Grigsby, Mike Subject: Palo Alto historical loads << File: loaddata_June&July_2001.xls >> << File: actualloadapril&may.xls >> << File: daily usage values2.xls >>
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Sally, Congratulations on your promotion. . .it is well deserved! You have been such a big influence in my career, and I sincerely appreciate all that you do. Thanks again, Carrie ---------------------- Forwarded by Carrie Slagle/HOU/ECT on 01/16/2001 10:56 AM --------------------------- Enron North America Corp. From: Office of the Chairman @ ENRON 01/12/2001 07:31 PM Sent by: Office of the Chairman@ENRON 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
COLUMBIA GAS TRANSMISSION CORPORATION NOTICE TO ALL INTERESTED PARTIES OCTOBER 29, 2001 Notice ID: 3222 5 - NO RESPONSE REQUIRED SUBJECT: CAPACITY UPDATE EFFECTIVE FOR TUESDAY, OCTOBER 30, 2001 NO CHANGES FROM PREVIOUS DAY Effective Tuesday, October 30, 2001, capacities will be as follows: Excess MDWQ Available + ISS Withdrawals Available SIT Withdrawals Available Imbalance Drawdowns Available Excess MDIQ Available + ISS Injections Available SIT Injections Available Imbalance Paybacks Available PAL Lends/Unparks Available PAL Parks/Loan Paybacks Available + Call Gas Control 24 hours in advance at (304) 357-2606 to request approval. Non-firm receipt capacity will be as follows: TENNESSEE: Brinker (B12) 20,000 Broad Run (B9) 300,000 Cambridge (B10) 20,000 Dungannon (B11) 20,000 Highland (B17) 0 NOTE: GAS RECEIVED AT HIGHLAND MUST BE DELIVERED IN THE NORTHERN PORTION OF MARKET AREA 38 OR THE NORTHWEST LATERAL OF MARKET AREA 36, DIRECTLY NORTH OF HIGHLAND. Milford (B18) 20,000 North Greenwood (B22) 0 Unionville (B15) 50,000 NOTE: EFFECTIVE THURSDAY, AUGUST 16, 2001, ANY SHIPPER UTILIZING A CONTRACT THAT HAS A PRIMARY RECEIPT POINT(S) WITH THE FOLLOWING POINTS, MUST UTILIZE THESE POINTS: Brinker (B12) Cambridge (B10) Dungannon (B11) Highland (B17) Milford (B18) Unionville (B15) TEXAS EASTERN: Delmont (C16) 0 Eagle (C22) 20,000 Hooker (C9) 20,000 Pennsburg (C23) 20,000 Windridge (C12) 20,000 NATIONAL FUEL: Independence (M1) 0 Ellwood City (L1) 15,000 TRANSCO: Downingtown (E3) 2,500 Emporia I (E13) 60,000 Rockville (E2) 0 Dranesville (E1) 0 EQUITABLE GAS: Hi Hat (F3) 0 KENTUCKY WEST VIRGINIA (KYWV): Beaver Creek (H1) 0 CNR PIPELINE: Boldman (CNR02) 0 Conoway (CNR03) 0 Johns Creek (CNR08) 0 Canada (CNR09) 0 Canada (CNR10) 0 Stafford (CNR11) 0 Thacker/Majestic (CNR12) 0 Briar Mtn. (CNR13) 0 Huff Creek (CNR14) 0 CONOCO: 0 Grant (P1) 0 NOTE: ANY APPALACHIAN PRODUCTION FLOWING DIRECTLY INTO COLUMBIA'S LINE KA BETWEEN COLUMBIA'S BOLDMAN COMPRESSOR STATION AND COLUMBIA'S HUFF CREEK COMPRESSOR STATION AS WELL AS PRODUCTION FLOWING INTO COLUMBIA'S LINES SM-116, KA-15, PM-3, AND PM-17 IS 0 NON-FIRM. ALGONQUIN: Ramapo (R1) 75,000 ANR: Paulding/Cecil 30,000 (F1, A2) LEBANON AGGREGATE 100,000 (A4, F2, C4, D3) TOLEDO AGGREGATE 100,000 (A3, F4, 734462) COLUMBIA GULF: (801) TCO-Leach 700,000 Internal point non-firm capacity will be as follows: Lanham 0 Delivery capacity (non-firm) will be as follows: TRANSCO: Martins Creek 10,000 (MLI E5) Young Woman's Creek 10,000 (MLI E9) ALGONQUIN: Hanover 0 (MLI R2) EQUITRANS: Fallen Timber 31,000 (MLI K1) Waynesburg-Rhinehart 20,000 (MLI K2) OPT-30 will be available in all market areas. OPT-60 will be available in all market areas. Market Area delivery capacity (non-firm) will be as follows: Operating Area 1 Market Area 33 No Restrictions Market Area 34 No Restrictions Operating Area 2 Market Area 20 No Restrictions Operating Area 3 Market Area 15 No Restrictions Market Area 16 No Restrictions Market Area 17 No Restrictions Market Area 18 No Restrictions Market Area 19 No Restrictions Operating Area 4 Market Area 21 No Restrictions Market Area 22 No Restrictions Market Area 23 No Restrictions Market Area 24 No Restrictions Market Area 25 No Restrictions Market Area 29 No Restrictions Operating Area 5 Market Area 02 No Restrictions Market Area 07 No Restrictions Operating Area 6 Market Area 10 No Restrictions Market Area 11 No Restrictions Market Area 12 No Restrictions Market Area 13 No Restrictions Market Area 14 No Restrictions Operating Area 7 Market Area 01 No Restrictions Market Area 03 No Restrictions Market Area 04 No Restrictions Market Area 05 No Restrictions Market Area 06 No Restrictions Market Area 08 No Restrictions Market Area 09 No Restrictions Operating Area 8 Market Area 26 No Restrictions Market Area 27 No Restrictions Market Area 32 No Restrictions Market Area 35 No Restrictions Market Area 36 No restrictions for southern part of Market Area 36. Primary receipts/deliveries only for gas delivered in the northern portion of Market Area 36. Market Area 38 No Restrictions Market Area 39 No Restrictions Market Area 40 No Restrictions NOTE: GAS DELIVERED IN THE NORTHERN PORTION OF MARKET AREA 38 OR THE NORTHERN PORTION OF MARKET AREA 36 MUST BE RECEIVED FROM TENNESSEE GAS PIPELINE AT HIGHLAND. Operating Area 10 Market Area 28 No Restrictions Market Area 30 No Restrictions Market Area 31 No Restrictions If you have any questions, please contact your Account Representative.
---------------------- Forwarded by Greg Whalley/HOU/ECT on 09/13/2000 10:08 AM --------------------------- Andy Zipper@ENRON 09/13/2000 09:24 AM To: Greg Whalley/HOU/ECT@ECT cc: Subject: From today's NGI I think we should discuss our response to this. ---------------------- Forwarded by Andy Zipper/Corp/Enron on 09/13/2000 09:16 AM --------------------------- From: Bob Shults@ECT on 09/13/2000 09:03 AM To: Andy Zipper/Corp/Enron@Enron, Louise Kitchen cc: Subject: From today's NGI FYI ---------------------- Forwarded by Bob Shults/HOU/ECT on 09/13/2000 08:57 AM --------------------------- From: Rahil Jafry 09/13/2000 08:57 AM To: Bob Shults/HOU/ECT@ECT, Daniel Diamond/HOU/ECT@ECT cc: Subject: From today's NGI EnronOnline Market Power Under Fire The simmering pot of market concerns regarding the market power of EnronOnline finally boiled over in public yesterday at Chicago's LDC Forum. A representative from EnronOnline had to fend off verbal attacks from competitors and from the audience, who criticized the system as giving Enron the ability to manipulate prices and provide it with an unfair advantage over competitors. Scott Coleman, an official at Altra Energy Technologies, said proprietary systems like EnronOnline, and systems being developed by a consortium of large market players, represent a danger to the health of the energy industry because of their current or potential market power. Altrade operates its own independent online exchange that is one of Enron's biggest electronic competitors. It differs from EnonOnline in that various buyers and sellers trade with each other with Altrade serving to clear the transactions. On EnronOnline, Enron posts bid and asked prices and is a party in every transaction. The proprietary EnronOnline trading system has been accused of market manipulation mainly because of its tremendous growth since going live last November and because of the market strength of its operator, Enron Corp. Enron is the energy industry's largest marketer/trader/risk manager and one of the largest natural gas pipeline operators. About 60% of its marketing and trading business today is done over the EnronOnline system. Critics charged that EnronOnline provides a tremendous advantage to its parent because all of the transaction data is thrown into a historical database that is available only to Enron. EnronOnline has handled more than 280,000 transactions worth $140 billion since going live. The proprietary system handles about 2,000 transactions every day with a value estimated at $1 billion, and most of its online business is natural gas and power sales and purchases. Why has the system been so successful? It's free, easy to use, low risk and there is a tight bid-ask spread, both EnronOnline and its competitors note. There's no special hardware required; everything is on the web and a transaction is as simple as a couple clicks of the mouse. It also provides a broad variety of information, including prices on 1,000 products, and is supported by the largest energy marketing firm. Although there are many other systems out there, few if any have the content, ease of use and price discovery of EnronOnline. Critics claimed that power enables EnronOnline to "soak up liquidity" in the marketplace, and in doing so give itself a tremendous advantage over its competitors. With each trade, Enron gains a little bit more information about its competitors' positions in the market. "Over the long term I think the market will always correct itself," said Altra's Coleman. "But in the short term, I think if any one player has enough of a presence in any one market they can cause prices to move in one direction or another." EnronOnline Director Bob Shults said the company is simply "providing a service for our customers, particularly a bid and ask. But I don't think Enron has the ability to move markets. We are just putting a bid and ask out there, and if people want to buy at our prices, then fine. If people want to sell at our prices, fine then sell it. I don't think we have the market manipulation capability people suspect... We are not bigger than the marketplace." When asked specifically about historical data collected on those who use the system, Shults denied the company studies the buying and selling patterns of its competitors with an eye toward manipulation --- sort of the "Big Brother" of the energy marketplace. "The historical information is not available," EnronOnline's Shults admitted. "We just started calculating the indices and price reports... We are now providing that information to the market so everyone else has that information as well." He said Enron does not retain information about those who use its system. Shults did, however, warn that the system will make the U.S. energy market much more closely connected to the global marketplace in the future. With increasing demand for LNG imports and rapid price discovery of worldwide commodities on EnronOnline, for example, market activity in Africa and the Far East could have a more immediate impact on domestic markets. Quoting analysis conducted by Forester Research Inc., Shults also predicted electronic exchange revenues could grow from $500 billion this year to more than $3 trillion in 2004-2005. ------------------------------------------------------------------------------ -- ,Copyright 2000 Intelligence Press Inc. All rights reserved. The preceding news report may not be republished or redistributed, in whole or in part, in any form, without prior written consent of Intelligence Press, Inc. Copyright ,2000 Intelligence Press Inc. All rights reserved.
Lindy -- FYI. This is just really informal so I'd prefer you not forward to anyone yet. Drew and Maria are most familiar with this so I'm going to get their feedback first before setting up a meeting. I'll get with you before I set a meeting time to see when you're available. ---------------------- Forwarded by Susan Scott/ET&S/Enron on 11/27/2000 06:27 PM --------------------------- Susan Scott 11/27/2000 06:28 PM To: Drew Fossum@ENRON, Maria Pavlou/ET&S/Enron@ENRON cc: Subject: Recourse rate dilemma: the sequel Maria and Drew, this is a long-winded e-mail but please bear with me... The problem: As you probably remember, several months ago several of us met to discuss the following language in the ROFR portion of Transwestern's tariff: "if the rate bid exceeds the maximum tariff rate, then the rate will be considered to be the maximum tariff rate," and the additional frustrating language "[a]ll available capacity shall be allocated under these procedures . . .." At our last meeting, we concluded that probably the best way to ensure that TW could capture the true value of the capacity would be to link the negotiated rate to index prices. However, since this usually involves an unacceptable amount of risk to both the shipper and TW, the marketers haven't done any index-based rates and have no current plans to enter into any such deals. I have been asked by the Commercial Group to revisit this issue and to think of other ways we could increase our ability to charge more than the maximum rate. Ideally they would like to eliminate the language I've quoted above. However, my research has indicated that absent our 1) bringing about radical change in the way FERC thinks about recourse rates or 2) showing that TW lacks market power, we are probably stuck with this language. Why the problem exists (you may already know): Steve Stojic and I did some looking into why the language is in our tariff in the first place. In the Alternative Rates Policy Statement (RM95-6-000), the Commission explained that it is willing to entertain individual requests for negotiated rates, but only where customers retain the ability to choose a cost-of-service based tariff rates. "[T]he availability of a recourse service would prevent pipelines from exercising market power by assuring that the customer can fall back to cost-based, traditional service if the pipeline unilaterally demands excessive prices or withholds service. Thus, the recourse rate mitigates market power." The Commission went on to confirmed that under ROFR provisions the highest rate that an existing shipper must match if it wishes to continue its transportation arrangement is the maximum tariff rate. This policy is clearly not limited to ROFR situations: when capacity is constrained, a shipper willing to pay only the recourse rate cannot lose access to capacity merely because someone else is willing to pay a negotiated rate. "When there are more requests for capacity than there is capacity available, then the pipeline must allocate capacity among those shippers willing to pay either the negotiated rate or the maximum recourse rate, for example on a pro rata basis if required by its tariff." The example cited by the Commission: If a pipeline has 100 Dth/d available and two shippers request that capacity, one who is willing to pay no more than the recourse rate of $5 and another a negotiated rate of $6, then each would be allocated 50 Dth/d on a pro rata basis (assuming the tariff provided for pro rata allocation and not some other allocation method such as lottery). When TW filed for authority to charge negotiated rates, it voluntarily added the statement that "if the rate bid exceeds the maximum tariff rate, then the rate will be considered to be the maximum tariff rate." Presumably we had concluded that we needed to add this recourse rate related provision in order to receive negotiated rate authority. Solutions?? I would like to know whether you concur that changing our tariff language outright is probably out of the question. I feel as if I've really been chasing my tail here. I have owed Lindy an answer for some time now. But I keep coming back to our having to prove lack of market power (which, Drew, is where I believe you were headed when we talked about this in mid-October). Steve Harris has asked whether we can just start small and remove the recourse rate cap as to only a portion of our system. I think we would still have to show lack of market power in order to do this. Do you agree? Stojic warns that proving lack of market power is a lengthy and expensive proposition. Might be worth it to us, though. Another idea is to somehow provide shippers with an incentive to pay more than max rate. After all, we do have authority to charge negotiated rates. We've seen one instance in which one of our marketers was able to get more than max rates for IT space based on good customer relations alone. However, despite our wonderful relationships with most of our customers, it's unlikely we can pull this off with any consistency. We wondered whether we might be able to get more than max rates in the context of an auction procedure. But I just am not convinced we could get around the Commission's requirement that recourse rates be available. That requirement has not changed. Have either of you seen anything to the contrary? I would like to meet with you two, plus several others I have in mind, to discuss this, preferably early this week (Tues. or Wed.), but would like to discuss briefly with you first. Please call me so we can talk for a few minutes. Thanks.
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
At Enron, we,re good at a lot of things: making markets, commoditizing products, managing risk, offering innovative energy solutions to customers ) the list goes on and on. However, one of the things we could do a lot better is watching our expenses. We,re all shareholders in this company, and we need to spend our company,s dollars as wisely as we spend our own. There are some simple, yet significant measures each of us can take to make sure we,re careful with Enron,s money. The Policy Committee has approved and recommended the following: ? Professional Services ) This is our largest area of discretionary spending, at more than $600 million last year. &Professional Services8 includes our contracts with outside law and accounting firms, contractors and other consulting groups. To make sure that we are negotiating the best rates and terms of service for the company across business units, we are requiring all future professional service contracts and those up for renewal to be negotiated through or in consultation with Global Strategic Sourcing (GSS), effective July 1. In addition, contracts for more than $5,000 must be pre-approved by the business unit senior executive or their designee and GSS. For more information, see http://ibuyit.enron.com. ? On-line expense reporting tool XMS ) XMS, our online expense reporting tool, enables us to expedite, monitor and report expenses. Effective July 1, all employees on domestic U.S. payroll will be required to use XMS for reimbursement of business-related expenses. To access XMS, go to http://xms.enron.com/. ? Enterprise wide portal ) We currently have 122 internal web sites across the company. The amount of technology work, marketing collateral, and other related costs required to develop and support so many portals is sizeable. It makes sense to have one Enron portal so you can efficiently access content and services through a single, personalized channel that will make it easier for you to find information and perform basic tasks online. This new company-wide portal, under the leadership of Tony Mends, will be launched in several phases beginning this fall. Another significant area where we can be more diligent in our spending is travel and entertainment. Enron has long had travel policies in place. As we have grown, we have not done as well as we should have in communicating those policies to new employees and reminding all employees to take advantage of the discounts we have negotiated. The availability of discounts and booking services online should make it easy to save money for the company without sacrificing the comfort of employees who travel. The following are common sense recommendations that we should all adhere to when traveling for business. Any regular deviations from these travel policy recommendations will be reviewed by each business unit leader. ? Air travel ) Employees are requested to use either Travel Agency in the Park (TAP) or the GSS-approved preferred travel agency for your location - all of which have access to the significant airfare discounts negotiated by GSS - or http://clicktrip.enron.com/enron, the new online travel booking service that allows employees to book their own travel with the same negotiated discounts. Employees who fly in the United States should book non-refundable coach tickets, which are typically 65 percent less than refundable tickets and can usually be changed by simply paying a $100 fee. For this reason, we strongly encourage all employees to purchase non-refundable domestic coach tickets when possible. ? Lodging ) GSS has also negotiated preferred rates at a number of hotel chains in many cities worldwide to accommodate each business unit,s individual hotel policy. We recommend that you use Enron,s list of preferred hotels to select accommodations that are in line with your business unit,s policies. You can view the list at http://travel.enron.com. ? Car rental services ) When renting a car for business travel, employees should use our preferred car rental agencies ) National (U.S. and Canada) and Alamo (U.S.)- since the agreements we have negotiated are intended to protect you and Enron through the insurance coverage in our contract. Visit http://travel.enron.com for details and updates to services available outside the U.S. ? Off-site meetings ) All domestic-U.S. off-site meetings and events with more than 10 people should be coordinated through GSS, which will negotiate preferred rates for Enron. They can be reached at (713) 646-8311. Because there are differences between business units and offices, each business unit leader will follow up this memo with a communication further elaborating on these policies as they apply to their business unit. Each of us has a responsibility to make sure we do our part to ensure Enron retains its competitive edge. These recommendations are some basic, sensible actions we can take company-wide, but it is up to every employee to look for cost saving measures and do what makes sense in your daily activities. If you have an idea or a suggestion you would like to share with us, please e-mail us at [email protected]. A list of questions and answers about these policies is posted on http://ibuyit.enron.com/gss/ibuyit/csfaq.doc. If you have additional questions, Policy Committee member Kevin Hannon will host an eSpeak on Tuesday, June 19 at 10 a.m. Houston time to discuss these cost saving recommendations.
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]>
To get off the list, please send an e-mail to: [email protected] and in the subject line, please put "SIGNOFF RRGA-L" Thank you! - Sarah ----- Original Message ----- From: "Nickeson-Moore, Nikki" <[email protected]> To: <[email protected]> Sent: Tuesday, May 15, 2001 4:50 PM > Please remove my name from future mailings. Kimberly Harris of Puget Sound > Energy should be receiving all information relating to RTO. Thanks! > > > ---------- > > From: Dalia, Keith A - TOS-DITT1[SMTP:[email protected]] > > Reply To: RTO West Regional Representatives Group > > Sent: Tuesday, May 15, 2001 4:39 PM > > To: [email protected] > > > > You have been added to the RRGA-L mailing list (RTO West Congestion Model > > Content Group) by Keith Dalia <[email protected]>. > > > > Please save this message for future reference, especially if this is the > > first time you subscribe to an electronic mailing list. 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SIVY ON STOCKS from money.com June 6, 2001 Why aren't banks doing better? Interest rate trends couldn't be more favorable, but leading banks such as J.P. Morgan and Bank One can't get any traction. By Michael Sivy If I were asked to name the single most important stock market indicator, I'd say the tilt of the yield curve. When long-term interest rates are at least half a percentage point higher than short-term rates, the economy typically grows at a healthy rate. But when short-term rates are even with or higher than long-term rates, the economy almost always stagnates or starts contracting. The yield curve is especially important for banks, since they have to borrow short-term money that they lend to long-term borrowers. The difference between short- and long-term rates, therefore, is a rough gauge of banks' profit margins. After five cuts in short-term interest rates this year by the Federal Reserve, the difference between short and long rates is two full percentage points. With loan margins that fat, you'd think that the top U.S. bank stocks would be in great shape. But they aren't. Shares of leading banks such as J.P. Morgan Chase [JPM] and Bank One [ONE] are flat to down so far this year. And both stocks have announced that their earnings for the current quarter will be below what analysts were expecting. What's the explanation for the lousy results? Essentially, there are two problems. Many of the big banks lent aggressively during the boom of the past five years and now find themselves saddled with lots of problem loans. In the case of J.P. Morgan Chase, those loans are to tech firms, such as telecoms. Bank One's problem loans, by contrast, represent credit-card debt. But in both cases, the banks will have to clean up their portfolios before they can truly profit from the improved interest-rate environment. Global giants, such as J.P. Morgan Chase, have a second set of problems. Over the past five years, their earnings became increasingly dependent on investment banking activity, such as IPO underwriting, private equity investments and proprietary trading. All of those businesses are depressed and will likely remain so until the tenor of the market improves substantially. And even though the Nasdaq is up 35 percent from the April lows, J.P. Morgan's losses on past investments are still outpacing its gains on those that are recovering. Where does that leave the stocks? Basically, they have a lot of sewage to wade through for the rest of this year. But they should be coming back strongly by the start of 2002. And, of course, share prices normally anticipate such improvements by at least a few months. I recommended J.P. Morgan Chase in January at $53 a share, saying the bank faced a rough six months, followed by accelerating growth over the coming three years. That scenario is unfolding more slowly than I expected, and the share price has declined by six bucks. But for long-term investors, I continue to believe that this is the must-own bank stock. However long it takes to clean everything up, the bank will be a powerhouse a couple of years from now. And after slipping back since January, the share price seems absurdly cheap. The bank's earnings power is well over $4 a share, a rate it should reach sometime next year. At the current $47 share price, that's a price/earnings multiple of less than 12 for a stock with a 12 percent compound growth rate and a 2.8 percent dividend yield. I'm less enthusiastic about Bank One. Consumer indebtedness has doubled since 1992. So I can't help but wonder how quickly the bank's problem loans will be taken care of. It's true that consumers will be getting some tax relief and that recent mortgage refinancings have boosted disposable income. But we all know that most of that money is going to be spent instead of going to reduce household debt. As a result, I think Bank One will be working through problem loans for a while -- and it's a more expensive stock than many other bank issues. ===================== Check out Michael's latest chat transcript discussing the markets, tech stocks, financials, and more ... http://www.money.com/money/chat/2001/010605.html ===================== ### Post your comments on Michael's column at: http://www.money.com/depts/investing/sivy/index.html To subscribe or unsubscribe to Sivy on Stocks, go to: http://www.money.com/email/ ----------------------------------------------------------- CONTACT THE BIGGEST COMPANIES IN THE WORLD! Over 5,000 contact names in the OFFICIAL FORTUNE Databases. DOWNLOAD THEM NOW! http://www.fortune.com/sitelets/datastore/index.html?mn01 ----------------------------------------------------------- * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * Special Internet Offer!!! 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Thanks for you comments. I did this prior to the meeting w/Keeley yesterday. I assume that, if this thing gets off the ground, we'll have the opportunity to get this thoughts into whatever it is that the legislature produces. Best, Jeff William Booth <[email protected]> 07/05/2001 03:19 PM To: "'[email protected]'" <[email protected]>, [email protected], [email protected], [email protected], [email protected], William Booth <[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], "John R. Redding (PS, NE) (E-mail)" <[email protected]>, "Mike Florio (E-mail)" <[email protected]> cc: Subject: RE: Bond Leg Language, etc. Jeff and all: I agree with your thoughts as to the need for amendments re DA customers that have never purchased DWR power, call it amend. 1. I also agree with your proposal re customers that leave bundled service for direct access service only having to pay for the costs actually incurred by DWR on their behalf, call it amend. 2. I think it is a stretch, however, to propose an exemption for any customer that leaves bundled for DA by September 1, call it amend. 3. This appears to be inconsistent with amend. 2. I agree with you re amend. 4, deletion of language ending DA. Bill -----Original Message----- From: [email protected] [mailto:[email protected]] Sent: Thursday, July 05, 2001 2:07 PM 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]; John R. Redding (PS, NE) (E-mail); Mike Florio (E-mail) Subject: Bond Leg Language, etc. Greetings: Hope everyone had a pleasant 4th. I've read the respective Burton and Hertzberg language on amending AB 1X. The Burton language looks cleaner and simpler, though there may be reasons to include some of the Hertzberg language, too. I'm proposing to the group the following as potential amendments to the bond bill. I would appreciate your feedback. The amendments would be as follows: Customers who were on Direct Access when DWR started buying power (Jan. 17th?), and are still on Direct Access when the bill passes, should be exempt from paying for the bonds. In short, customers should not be forced to pay for power twice--once from their ESP, and once from DWR. Since these customers receive power services from their ESP, they never consumed DWR power in the first place and it wouldn't be fair to require them to pay for it. Customers who have been utility customers since DWR started buying power but subsequently switched to Direct Access should only pay for power provided by DWR that they actually consumed, no more and no less. For example, if a customer was a utility customer when DWR started buying power but switched to Direct Access on May 1st, then the customer would only be responsible for reimbursing DWR for power deliveries that took place from Jan. 17th thru April 30th. I believe that we agreed on these concepts during the negotiations that took place over the past 4-5 weeks. Or if we didn't explicitly agree during the talks, they seem to be principles on which we ought to be able to agree pretty easily now. And rather than leave the issue hanging, which can create unnecessary and costly uncertainty for customers, I suggest that we include very clear and simple legislative language in the bond bill clarifying what customers' obligations are. Your thoughts are appreciated. In addition, we have talked quite a bit about providing customers with incentives in the attempt to get California out of the energy hole that it finds itself in. Providing (20KW and above) customers with an incentive to switch to Direct Access as soon as possible could 1) reduce the net short position that the state (and ultimately consumers) have to finance, thereby reducing spot purchases and price volatility, 2) reduce electricity purchasing costs, and 3) reduce the burden on the state budget. With this in mind, I'm also proposing that the group consider an amendment to the bond bill that would exempt from bond charges any customer that switches to Direct Access by September 1st. Finally, it seems odd that the language directing the PUC to suspend Direct Access is still in the bill. If a dedicated rate component is created, that seems to eliminate altogether the need to suspend Direct Access. And if that's the case, would it make sense to delete that language from the bill? Look forward to your comments and working with you to get support for and passage of the "core/noncore" proposal. Best, Jeff This e-mail is intended solely for use of the individual to whom it is addressed and may contain information that is privileged, confidential or otherwise exempt from disclosure under applicable law. If the reader of this e-mail is not the intended recipient or the employee or agent responsible for delivering this message to the intended recipient, you are hereby notified that any dissemination, distribution, or copying of this communication is strictly prohibited. If you have received this communication in error, please immediately notify us by replying to the original sender of this note. Thank You.
---------------------- Forwarded by David W Delainey/HOU/ECT on 11/30/2000 03:54 PM --------------------------- Joe Kishkill@ENRON 11/28/2000 01:25 PM To: David W Delainey/HOU/ECT@ECT cc: Subject: Re: Cuiaba Review Dave, Here is the list of folks involved in Cuiaba. Laine Powell and his team - Project execution team for Cuiaba, located in Cuiaba Jose Anson - Develpment - Engineering/Permitting Joan Carlos Albuquerque - FURNAS/Eletrobra relationship Valeria Lima - ANP relationship Daine Duarte - Local in Cuiaba. Sounds like formally part of Lammers' team, but practically part of Laine's team Jose Lucio dos Reis Neto - Agencies involved in electric system operation. Recovery oil fuel oil costs (complicated story/very important task) Jose Bestard - Project continuity. Original PPA negotiations John Novak - Lawyer...key to financing Rob Gay - Financing lead...key to financing Rick Lammers - Commercial project lead I sent this on top of Pete Weidler's e-mail and summarized a good part of it above. Only Lammers and Gay were not mentioned in Pete's e-mail. Another thought...pull people in from EE&CC as part of the "new team". No basis in fact here, but I suspect there are too many contractor/owner games going on. Probably need the EE&CC key people list as well. Do you want me to shake it loose, do you want to work it with Leff, or bad idea? Let me know if you have any additional questions. Thanks, KIsh ---------------------- Forwarded by Joe Kishkill/SA/Enron on 11/28/2000 04:13 PM --------------------------- Peter E Weidler 11/27/2000 08:17 PM To: Joe Kishkill/SA/Enron@Enron cc: Subject: Re: Cuiaba Review Joe - this is the list I asked Laine to put together. - I asked him not to list all the folks under Laine - as I assume they stay with the project no matter where it goes. Jose Anson - he is the coordinator of permitting at IBAMA and ANP for the pipeline. He is also involved with working on the FUNAI issues a result of his efforts on the IBAMA license. Key person. Joao Carlos A. - although he is working on the project on an ad hoc basis he is key in terms of the FURNAS/Eletrobras relationship. Not only does he know folks but he also gets things done within the system. Valeria Lema - She is the relationship manager with ANP. Daiane Duarte - Daiane Duarte is on the PanEng payroll until the end of the year after which she has been dialed out. Have asked Rick several times about her future with his group. She is critical locally in Cuiaba due to relations with FEMA and other agencies for obtaining the state permits that are still outstanding as well as working with Anson et al. Lucio Reis - he is very active in working with ANEEL/ONS/MAE and others. He has been a key to our success on the CCC account. He is a must to making the project successful. Knows the contacts and basically understands the project from the regulatory and CCC account point-of-view. Two other people that are not involved in "our side" of fence on a daily basis but are valuable are Jose Bestard and John Novak. Jose knows the history and John is the counsel with the longest tenure on the project. Pete Joe Kishkill 11/27/2000 06:16 AM To: Peter E Weidler/NA/Enron@Enron cc: Subject: Re: Cuiaba Review Pete, But you (or does anyone) have a definitive team list for Cuiaba? Need this for transition planning purposes. I agree with your sentiment that some folks may be pulling double duty while we button up Cuiaba. Just need to know "how many" and "who". Thanks, Kish Peter E Weidler 11/26/2000 09:07 PM To: Laine A Powell/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Joe Kishkill/SA/Enron@Enron, Richard A Lammers/SA/Enron@Enron, Brett R Wiggs/SA/Enron@Enron, John Novak/SA/Enron@Enron, Rob G Gay/NA/Enron@Enron, Jose Bestard/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT cc: Subject: Cuiaba Review we can do this by phone. Pete ---------------------- Forwarded by Peter E Weidler/NA/Enron on 11/26/2000 06:06 PM --------------------------- Peter E Weidler 11/26/2000 05:59 PM To: Laine A Powell/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Joe Kishkill/SA/Enron@Enron, Richard A Lammers/SA/Enron@Enron, Brett R Wiggs/SA/Enron@Enron, John Novak/SA/Enron@Enron, Rob G Gay/NA/Enron@Enron, Jose Bestard/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT cc: Subject: Cuiaba Review Rebecca has asked for a review of the Cuiaba project. Her current thinking is that it should be under one shop - not split responsibility. Which shop is not clear to me - I presume this will be decided pretty soon. The review will take place the week of Dec 4th. She wants a straight forward decription of what is left to be done and what the issues are. I am thinking the presenters are Laine, Rick, Jose. In attendance are Rob and John. Can divide the presentation up into - getting the construction finished/cost issues/EECC - subcontractor issues. - Laine Furnas/Electrobras issues - Rick YPF - gas supply - Mark to market position - opportunities - Rick MAE/ONS issues - current thinking. - Jose Current economics. - Rick Everyone should have a page prepared ahead of time with the discussion topics on it - she doesn't want a detailed presentation - just the facts. Can we send the page per topic around by this friday. I will ask Rebecca for two hours the week of the 4th and let you know. Joe - we should talk about where the project should best end up - I think Rebecca is flexible - don't really know what Dave is thinking. Pete
??????? Emerging Technologies Management Research Program Mack Center on Technological Innovation *?The Wharton School??? ??????? ??????? A SPECIAL INVITATION FROM THE WHARTON SCHOOL On behalf of the Wharton School and Insead, we are pleased to extend a special invitation for you to participate in our 3rd semi-annual workshop on best practices in HIGH TECHNOLOGY ACQUISITIONS-- Tuesday, December at the Wharton School in Philadelphia.? This event will include presentations by our research team at Wharton and Insead, as well as presentations and discussions by corporate managers involved in M&A.? Typically, these are smaller events, with about 15-20 companies participating. Twice each year, we invite approximately a dozen companies to join us at a workshop in which we present our most recent research-in-progress from our ongoing initiative on best practices and strategies in high technology acquisitions.? This is part of our research activity and there is no conference fee. Our December 5 event will be of special value to senior decision makers involved in planning or implementing growth through mergers and acquisitions.? In case you are unable to attend or would like to include another senior manager from the M&A sector, please feel free to forward this invitation to a colleague. An agenda for the symposium is attached, though we stress that the direction of our discussions will be flexible and responsive to the interests of participants.? Accommodations are available at the Inn at Penn at the special rate of $164? (tel: 215-823-6202 - Mention the Emerging Technologies Program at Wharton when making reservations).? To RSVP, please respond to this email or call 215-573-7722 before November 25.? Thank you.? best regards, Michael Tomczyk, Managing Director, Emerging Technologies Program Harbir Singh, Co-Director, Mack Center for Technological Innovation About The High Tech Acquisitions Research Project A Research Collaboration of the Wharton School & Insead The High Technology Acquisitions Research Project, jointly organized by The Wharton School and INSEAD, has been conducting research to identify the determinants of success in high technology acquisitions.? Our research includes developing a portfolio of in-depth case studies, building a unique acquisitions database, and hosting semi-annual workshops for industry practitioners.? These tools allow? us to perform rigorous analysis to determine success factors in high technology mergers and acquisitions.? Firms that have participated in our research process so far include Cisco, Cable & Wireless, Hewlett Packard, Lucent, Symantec, and Xerox. Timely Insights for Company Decision-Makers.? One of the most unique aspects of this project is the reporting of research in progress, to give industry decision makers access to the insights from our research as they are revealed.? To test and refine our findings, we host an ongoing series of workshops that bring together practitioners from some of the most experienced acquirers in the high tech arena, and academicians whose research interests converge on the role of acquisitions in technology-based competition. Our next workshop on December 5 will be the third in the series.? Prior events were held in December 1999 at Wharton and June 2000 at INSEAD in Paris, France. (Reports of these events are available on the ET website: http://emertech.wharton.upenn.edu). Objectives.? Our objective is to build a community of practice around the complex phenomenon of managing acquisitions in high-tech environments.? A major goal is to identify and validate new best practices and winning strategies in mergers and acquisitions.? Most of our focus involves issues of value and concern to large multinational corporations.? We are particularly interested in how mergers and acquisitions are pursued as part of a company's GROWTH STRATEGY. Research Team.? The research team on this initiative includes:? Prof. Harbir Singh, Chairmsn of the Management Department and Co-Director, Mack Center for Technological Innovation (Wharton); Phanish Puranam, Project Director and Ph.D. Candidate (Wharton); and Mauricio Zollo, Asst. Prof. of Management (Insead). Agenda - High Tech Acquisitions Workshop Winter Workshop 2000- Tuesday,? Dec. 5, 2000 Location: The Inn At Penn, Philadelphia Entrances on Walnut St. OR Sansom St., between 36th and 37th Street. 9.00 - 9.15a??? Welcome and Introductions (H. Singh) 9.15 - 10.30??? An overview of the project: Objectives and Outputs (M. Zollo) 10.30-10.45??????? Coffee break 10.45-12.00Round # 1 results from the Project (P. Puranam) 12.00-12.30????? Setting the agenda for Sub-Group discussions (H. Singh) 12.30-1.30p???? Working Lunch: Sub-group discussions 1.30-2.00?????? ??????? Free time 2.00-3.00?????? ??????? Sub-Group Reports: Sharing and Comparing Notes 3.15-4.15?????? Coffee Break 4.15-5.00?????? Speakers Panel: A View from the Trenches 5.00-5.15?????? ??????? Break 5.15-6.00?????? ??????? Where do we need to go from here? (H. Singh) DIRECTIONS:? From Philadelphia Airport, the Inn At Penn is approximately 45 minutes by taxi, or 10 minutes from 30th Street Train Station.? If driving , there is valet parketing at the hotel.? The Inn At Penn is located on Sansom Street (also an entrance on Walnut Street), between 36th and 37th Street.?? To make a reservation, call? 215-823-6202 and to get the reduced room rate of $164, be sure to mention that this is for the Emerging Technologies Program at Wharton. -- Michael S. Tomczyk Managing Director Emerging Technologies Management Research Program 1400 SH-DH/6371 The Wharton School Philadelphia, PA 19104-6371 Tel 215-573-7722 Fax 215-573-2129 website:? http://emertech.wharton.upenn.edu - P2F7E2472
----- Forwarded by Jeff Dasovich/NA/Enron on 07/06/2001 07:15 PM ----- > POWER POINTS:Nevada Suffers FERC Unintended Consequences > > By Mark Golden > A Dow Jones Newswires Column > > NEW YORK (Dow Jones)--Those who have opposed wholesale electricity price > controls have been labeled as extreme free-market ideologues who are > insensitive > to the practical impacts on peoples' lives of high electricity prices. > But the most common argument against price caps has been logical, not > ideological: Price controls have never worked. Market participants always > find a > way around the rules. > This week the Federal Energy Regulatory Commission decided that it will > have > to consider at its meeting next week revisions to its June 19 price > control > ruling. The initial price cap rule, set by the California Independent > System > Operator last spring, was only a few paragraphs long. Each successive > price cap > order has gotten longer, though effectiveness still appears out of reach. > The > FERC's April order was 28 pages long; the June order was 48 pages. And now > additional rules are on call to plug the new loopholes. > The revisions will also try to repair damage done to the market by the > June > order. During a spell of very hot weather Monday, Sierra Pacific Resources > (SRP) > subsidiary Nevada Power had to initiate limited rolling blackouts to a > small > number of customers for 45 minutes. The company attributed the blackouts, > in > part, to the new price controls. > Sierra Pacific's chief spokesman, Paul Heagen, provided a bird's eye > view of > the practical realities of the FERC's new price cap regime. > Power Points: After having a few days to look into it, can you say that > price > caps definitely contributed to blackouts in Nevada on Monday? > Paul Heagen: Yes, but first let me say that all of it was unintentional. > FERC > was trying to do the right thing. Price caps were a noble effort to solve > a real > problem in California. > But on Monday the market needed speed and clarity to function. It had > neither, > and that can be attributed to the price caps. Normally, in one or two > phone > calls we could have got what we needed. On Monday, we were five to six > calls > into it and still on the phone. > Price caps are having the unintended consequence of dragging other > states into > the California morass. We have this artificial environment which we are > all > trying to sort through. > PP: How, specifically, are the caps having this effect? > PH: There are a couple of elements. The 10% premium for power sold to > California is supposed to reflect concerns about credit. That 10% in an > open > market is no big deal, but in a constrained situation the seller will grab > it, > because now it's his only chance to make money. > Also, the way this is set up, they look backwards. They determine the > price > after the fact. I can't think of any business in the world where you sell > a > product and find out later what price you sold at. > This had a very chilling effect on people's willingness to sell. > Normally, a > cloud cover comes in and a utility has a little extra power to sell in the > real-time market. Normally, those little 50-megawatt packets move pretty > easily, > and that's really important for maintaining reliability. > With the price cap, utilities hunkered down. Selling at $92 wasn't worth > the > risk. They figured they might as well hang on in case they needed it. > Also, we have a voluntary curtailment program that allows us to share > savings > with customers who agree to curtail use. If the market is, say, $500, we > might > pay them $250/MWh to curtail demand. But in a $92/mkt, we can offer them > such a > small amount of money that they stay on. > PP: Have you talked to FERC about these problems with the price > controls? > PH: We've had a senior team in Washington, D.C., at the FERC since last > week. > Right away we saw another effect of the FERC order: It penalizes companies > like > ours that signed long-term supply contracts before the order because many > of > those deals were done at prices above the price cap. > The biggest issue for us, is, did FERC really mean to penalize companies > like > us that planned ahead? It's long-term contracts that provide price > stability. > It's unfair to our customers to expect them to pay for long-term > contracts > that have been undercut by price caps. If we get into a situation where we > have > a little extra to sell, now we can't recover our costs. > PP: With such high prices the past year, a lot of small, oil-fired > turbines > have been dusted off and put into service on time for this summer. Traders > for > other southwest utilities have said that all these little turbines have > been > very helpful when supplies got tight earlier in the year, but they weren't > available this week because they cost more to run than the price cap. Did > you > see the same thing? > PH: We have some small turbines that we put in Reno and the Lake Tahoe > area in > the last few months. They were supposed to provide peak power, but they > get > uneconomic in a hurry under the price cap scheme. > You know, we've tried to isolate ourselves as best we could from the > California situation and behave very independent of how California > behaves. So > Nevada is a great test case to see if price caps have an unintended effect > outside of California. We were able to minimize the impact on our > customers > Monday, but the situation has maximized the attention of the country on > the > impact of price caps. > -By Mark Golden, Dow Jones Newswires; 201-938-4604; > [email protected] > > (END) DOW JONES NEWS 07-06-01 > 03:14 PM- - 03 14 PM EDT 07-06-01 >
Charles Schwab & Co., Inc. Internet Daily for Monday, June 4, 2001 by Frank Barnako CBS MarketWatch.com ----------------------------------------------------------------- Four sites attract 50.4% of Web usage Web properties operated by AOL Time Warner, Microsoft, Yahoo and Napster accounted for half of the time spent online by U.S. Web users in March, according to a report issued Monday by Jupiter Media Metrix . The data "show an irrefutable trend toward online media consolidation and indicate that the playing field is anything but even," said Aram Sinnreich, senior analyst with Jupiter Media Metrix. Sinnreich added that the results dispel any myth that "severe market dominance is impossible on the Internet." Two years ago, 11 companies held half of all Web use. AOL's sites garnered 32% of minutes spent online, with two-thirds made up of such communications services as e-mail and Instant Messaging, followed by Microsoft at 7.5%, Yahoo at 7.2%, and renegade online music site Napster at 3.6%. Meanwhile, U.S. Web usage continued to grow for the latest month, reaching 107 billion online minutes from 73 billion in March 2000 and 50 billion in March 1999, Jupiter reported. ----------------------------------------------------------------- Inside Inside.com Inside.com's efforts to sell subscriptions didn't even come close to making money, writes Ken Auletta in the latest issue of The New Yorker. The media-beat journalist, profiling Inside.com, said a company insider told him only 1,200 people subscribed to the Web-based content service. A partner later told Auletta the number "was closer to 5,000." Inside.com founder Kurt Andersen will soon leave the venture, recently purchased by Brill Media Holdings, but is reluctant to conclude the project was a failure, telling Auletta: "There are no precedents, and no comparables. People are making it up as they go along." ----------------------------------------------------------------- No sale for online billing Internet users are showing little appetite for receiving and paying bills online. An estimated 3 million Web users, or about 2%, use the Internet for such transactions, technology consulting firm Gartner Group said in a New York Times report. "It may be rather bleak for companies looking to make a business out of this," Gartner Research Director Susan Landry told the newspaper. ----------------------------------------------------------------- Satellite-based Web services get static Lockheed Martin Corp. and Hughes Electronics Corp. reportedly are scaling back plans to provide Internet service from space. Industry sources quoted by The Wall Street Journal say both firms are having trouble finding partners to help finance the projects. They "are having difficulty accessing money," and the "lack of financing [options] is very badly impacting" start-ups as well as established players, said Jean-Francois Gambart, a vice president in the space unit of France's Alcatel . ----------------------------------------------------------------- AOL plans JV in China America Online and China's biggest PC maker, Legend, will become partners to provide Internet access services, according to The Asian Wall Street Journal. However, an executive at Legend said, "It's not convenient to disclose anything before the contract is signed." China's Ministry of Information Industry estimates there are 30 million Internet users in the country. ----------------------------------------------------------------- Deal of the day Consumer Reports said its auto-buying guides will be offered through Yahoo's shopping area, marking the first time the data will be available outside the publication's ConsumerReports.org site. CR's product rating content will be sold through Yahoo on a per-view basis, with the Web portal receiving a share of the revenue. ----------------------------------------------------------------- For late-breaking market news you can't afford to miss, go to http://CBS.MarketWatch.com/ ################################################################# Log in using the links below to: Access your account: https://investing.schwab.com/trading/start?SANC=CCBodyi&NeedCASelValue=Y View your Email Alert customization options: https://investing.schwab.com/trading/start?SANC=EAMyAlerts Perform research or request a market quote: https://investing.schwab.com/trading/start?SANC=Quotes Place a trade order: https://investing.schwab.com/trading/start?SANC=TradeStock To visit Schwab's home page, use this link: http://www.schwab.com/ ----------------------------------------------------------------- To unsubscribe or modify your Email Alert customization options, log in using the link below or copy and paste it into your browser's address window: https://investing.schwab.com/trading/start?SANC=EAMyAlerts Now you can receive graphics Email Alerts in HTML format, using helpful, full-color graphics and active Web links that connect you directly to information you want. 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On the first point the reference to a "municipal plant" did not disclose whether it was a legal body corporate. That fine if the check has been made. As far as the US$6m min asset level is concerned it does not specifically relate to Australia counterparties (ie those incorporated in Australia). It relates to companies with whom we trade Australian power irrespective of place of incorporation. Under our power trading licence requirements we are required to take reasonable steps to satisfy ourselves that we are dealing with non-retail type investors. There is a check list in the licence of requirements , the most relevant for companies not trading in Australia is the AUD10m (US$6m) in "tangible assets". Tana thank you for your offer. You are really doing an excellent job pulling together a huge amount of information in such an effective. I am loath to do anything that would make your job any more difficult. I think we can assume that a party which has sufficient assets to trade US power can also trade Australian power. As far as Australian incorporated companies are concerned we will be checking their suitability Australian power hopefully at the time we receive the password application. If not I will pick it up when I check your list. From: Tana Jones@ECT on 17-08-2000 09:10 CDT To: David Minns/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT cc: Subject: Re: EOL Credit Responses 08/14/00 Each legal trading group here in Houston checks on a relevant counterparty's ability to trade its products. So far the only physical trading area where a governmental counterparty appears to have problems is the power trading group where there are licensing requirements that may or may not have been obtained to trade power. For financial trading we do have to inquire into the relevant governmental entities' authority to enter into derivative transactions. In order to do that we look at statutory authority, any relevant local regulations, investment policities, etc., in addition to obtaining legal opinions on the subject, and with some counterparties hiring outside counsel to advise us. For most governmental entities if we do not have an ISDA Master in place and have already done such due diligence, I will not be approving them to trade financial products. As far as the financial test, for the US based counterparty list, I check with Credit on every counterparty to determine whether they meet the US eligible swap participant standards. As I'm sure you know, for most plain vanilla corporates and partnerships this means having total assets of $10mm or a net worth of $1mm. Pretty much, if I am turning down a counterparty to trade financial it will be because they do not meet the ESP test or they are a governmental or quasi-governmental entity. If what you are telling me is that the Australian counterparties have to meet a $6mm asset test to trade any products, then I will add this to my daily inquiry to Credit and turn down Australian counterparties if they do not meet this test. At your direction I will handle this in this manner. How would you like me to proceed? David Minns@ENRON_DEVELOPMENT 08/16/2000 07:58 PM To: Tana Jones/HOU/ECT@ECT cc: Subject: Re: EOL Credit Responses 08/14/00 Is this an incorporated entity? I assume its authority to trade a range of products has been checked out? In Australia this assumption can not be made for government entities Under our licencing requirements we need to make reasonable enquiries that a counterparty has (or is guaranted by someone who has) atleast USD6 million in assets. Can this assumption be made? From: Tana Jones@ECT on 16-08-2000 08:39 CDT To: David Minns/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT cc: Subject: Re: EOL Credit Responses 08/14/00 Tauton is ok for all products, except for financial products (it can do power). David, when I talk about this I am never including credit derivatives unless Credit specifically tells us in their spreadsheet that this is a credit derivatives counterparty. David Minns@ENRON_DEVELOPMENT 08/15/2000 05:32 PM To: Tana Jones/HOU/ECT@ECT cc: Subject: Re: EOL Credit Responses 08/14/00 Tana what can the Taunton Municipal Light Plant trade? Is it the same as Huntsville? From: Tana Jones@ECT on 15-08-2000 01:35 CDT To: Alan Aronowitz/HOU/ECT@ECT, Jeffrey T Hodge/HOU/ECT@ECT, Stacy E Dickson/HOU/ECT@ECT, Leslie Hansen/HOU/ECT@ECT, Harry M Collins/HOU/ECT@ECT, David Portz/HOU/ECT@ECT, Elizabeth Sager/HOU/ECT@ECT, David Minns/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Marie Heard/Enron Communications@Enron Communications, Robbi Rossi/Enron Communications@Enron Communications cc: Subject: EOL Credit Responses 08/14/00 ----- Forwarded by Tana Jones/HOU/ECT on 08/15/2000 01:35 PM ----- Bradley Diebner 08/14/2000 05:27 PM To: Frank L Davis/HOU/ECT@ECT, Karen Lambert/HOU/ECT@ECT, Tana Jones/HOU/ECT@ECT, Samuel Schott/HOU/ECT@ECT, Sheri Thomas/HOU/ECT@ECT, Mark Taylor/HOU/ECT@ECT, Bernice Rodriguez/HOU/ECT@ECT, Brant Reves/HOU/ECT@ECT, Debbie R Brackett/HOU/ECT@ECT, David Hardy/LON/ECT@ECT, Lesli Campbell/HOU/ECT@ECT, Molly Harris/HOU/ECT@ECT, Cynthia Clark/Corp/Enron@ENRON, Mary G Gosnell/HOU/ECT@ECT, Enron Europe Global Contracts and Facilities, Enron Europe Global CounterParty, Stephanie Sever/HOU/ECT@ECT, Bradley Diebner/HOU/ECT@ECT, Stacey Richardson/HOU/ECT@ECT, Tom Moran/HOU/ECT@ECT, Adnan Patel/Corp/Enron@ENRON, Claudia Clark/HOU/ECT@ECT cc: Subject: EOL Credit Responses 08/14/00 The EOL approvals for 08/14/00 are attached below. Regards, bd
"I accept the terms and conditions of this Pilot Participant Agreement." Martin Cuilla x35933 From: ClickAtHomePilot2 11/08/2000 10:06 AM Sent by: Suzanne Brown To: Chris Cockrell/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Allen Cohrs/ET&S/Enron@ENRON, Brad Coleman/HOU/ECT@ECT, Wes Colwell/HOU/ECT@ECT, Elaine Concklin/ET&S/Enron@ENRON, Mark Cooper/ECF/Enron@ENRON, Gina Corteselli/Corp/Enron@Enron, Emile Courrege/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Paige Cox/Corp/Enron@Enron, Penny Crane/Enron Communications@Enron Communications, Michael Cuccia/Corp/Enron@ENRON, Martin Cuilla/HOU/ECT@ECT, Jeff Cullison/ET&S/Enron@ENRON, Pamela Culpepper/ET&S/Enron@Enron, Dan Cummings/Enron Communications@Enron Communications, Steve Dahnke/ET&S/Enron@ENRON, Larry Dallman/GPGFIN/Enron@ENRON, Glenn Darrah/Corp/Enron@ENRON, Lohit Datta-Barua/OTS/Enron@Enron, Raul Davila/GPGFIN/Enron@ENRON, Clara Davis/GPGFIN/Enron@ENRON, Kevin M Davis/ECF/Enron@Enron, Don Daze/ET&S/Enron@ENRON, Ryan Deane/SF/ECT@ECT, Juanita Delgado/HOU/EES@EES, Mike Denzel/ET&S/Enron@ENRON, Larry Derrett/HOU/EES@EES, LaDonna Dervin/OTS/Enron@ENRON, Michael Desbiens/Corp/Enron@ENRON, Peggy Determeyer/Corp/Enron@Enron, Leslie D Dever/HOU/EES@EES, Mike Deville/HOU/ECT@ECT, Shirley Jo Wilson/NA/Enron@ENRON, Stacy E Dickson/HOU/ECT@ECT, Ashley Dietz/Enron Communications@Enron Communications, Richard DiMichele/Enron Communications@Enron Communications, Huy Dinh/HOU/ECT@ECT, Trang Dinh/HOU/ECT@ECT, Danny Doan/Corp/Enron@ENRON, Karla Dobbs/HR/Corp/Enron@ENRON, Jodi Dobrinski/OTS/Enron@ENRON, Margaret Doucette/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Stephen H Douglas/HOU/ECT@ECT, Kevin Dumas/GCO/Enron@ENRON, Tina Dunnaway/FGT/Enron@ENRON, Dianna Dupree/HOU/ECT@ECT, Carlos Duran/Enron Communications@Enron Communications, Deborah P Durr/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, John Dushinske/ET&S/Enron@ENRON, Judy Dyess/HOU/EES@EES, Mark Dypiangco/Enron Communications@Enron Communications, Calvin Eakins/Corp/Enron@ENRON, Scott Earnest/HOU/ECT@ECT, Max Eberts/HOU/EES@EES, Monica Edwards/HOU/ECT@ECT, Karen E Ehlert/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, David Eldridge/Corp/Enron@ENRON, Connie Emerson/ECF/Enron@ENRON, Kenton Erwin/Enron Communications@Enron Communications, Cynthia U Espinoza/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Javier Espinoza/HOU/EES@EES, Carrie Evans/HOU/EES@EES, Leo Fajardo/ET&S/Enron@ENRON, Charles Falgout/ENRON_DEVELOPMENT@ENRON_DEVELOPMENt, Lachandra Fenceroy/ET&S/Enron@Enron, Youyi Feng/NA/Enron@Enron, Roger Fernandez/OTS/Enron@ENRON, Lee Ferrell/ET&S/Enron@Enron, Kathy Fink/Corp/Enron@ENRON, Dara M Flinn/HOU/EES@EES, Darlene C Forsyth/HOU/ECT@ECT, Mike Frank/OTS/Enron@Enron, Paul Fraser/Enron Communications@Enron Communications, Lamar Frazier/NA/Enron@Enron, Perry Frazier/ET&S/Enron@ENRON, Darryl S Free/NA/Enron@Enron, Mark Frevert/NA/Enron@Enron, Elba Funes/Enron Communications@Enron Communications, Bruno Gaillard/EU/Enron@Enron, Sonja Galloway/Corp/Enron@Enron, Amy Gambill/Corp/Enron@ENRON, Ava Garcia/ET&S/Enron@Enron, Frances Garcia/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Orlando Garcia/HOU/EES@EES, Susan Gensichen/NPNG/Enron@ENRON, Robert H George/NA/Enron@Enron, Dave Gerstenkorn/ET&S/Enron@ENRON, Tom Gilbert/ET&S/Enron@ENRON, Beverly Gilmore/GCO/Enron@ENRON, James Ginty/Enron Communications@Enron Communications, Matt Gitchell/Enron Communications@Enron Communications, Sharon Gonzales/NA/Enron@ENRON, Chuck Good/ET&S/Enron@ENRON, Elizabeth A Goodman/HOU/EES@EES, Michael Goodman/OTS/Enron@ENRON, Sherry J Graham/HOU/ECT@ECT, Alma Green/FGT/Enron@ENRON, Vance Griffith/ET&S/Enron@ENRON, Angela Grohol/Enron Communications@Enron Communications, Marlin Gubser/HOU/ECT@ECT, Chuck Hahn/SFO/EES@EES, Gigi Hall/Corp/Enron@ENRON, Mark Harada/HOU/EES@EES, Glenn Harbers/ECF/Enron@ENRON, Russell Hardie/HR/Corp/Enron@ENRON, Michelle Hargrave/HOU/ECT@ECT, Cole Harper/Enron Communications@Enron Communications cc: Subject: An Invitation to Participate to the Second Pilot of ClickAtHome We are excited to extend an invitation to you to participate in the second Pilot of Enron's new ClickAtHome program. You have been invited to participate by your Human Resources department or a ClickAtHome project member. The ClickAtHome program is Enron's new innovative program to provide eligible employees high-speed internet access where available, with a high-end computer and high-speed internet connection. If you are interested in participating in the ClickAtHome pilot program, please read all of the materials below and electronically return the PILOT Agreement with your consent by stating that you accept the terms and conditions of the agreement in a reply e-mail to this invitation. The only action required of you at this time is described below under PILOT agreement. The ordering websites will open in about two to three weeks and are NOT accessible at this time. Pilot Kickoff2 11-2.ppt - Details pilot member expectations, commitments, and a tentative pilot time table. Terms and Conditions - Program terms and conditions. You will be asked to accept or decline these terms and conditions before you order your computer and/or internet connection on the pilot web site. Employee Election Agreement - Please read. You will be asked to accept or decline this agreement before you order your computer and/or internet connection on the pilot web site. Pilot Agreement - Please return the pilot agreement electronically by replying to this mailbox ([email protected]) and stating: "I accept the terms and conditions of this Pilot Participant Agreement." if you would like to participate. To sign up for Pilot Two, please return via email by 11/10.
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
-----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
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.
Brian, I didn't get the revised draft. Kay From: Brian D Barto@ENRON_DEVELOPMENT on 02/07/2001 04:43 PM To: Kay Mann/Corp/Enron@Enron cc: Subject: BlueDog Change Order #2, Rev 6 Kay: I have edited the draft you sent me and placed GE's comments in a different color so you can see their comments next to yours. Risk Management (Paul Parrish) is OK with the 100% coverage. The original deal was that they would be off the hook for cosmetic damage incurred by GE's storage, so to put them back on the hook was a bit of a retrade. Otherwise I think their comments (other than the approval of the assignment comment) are in order. Is this draft acceptable to you? BB ----- Forwarded by Brian D Barto/ENRON_DEVELOPMENT on 02/07/2001 04:37 PM ----- [email protected] 02/07/2001 02:20 PM To: [email protected] cc: [email protected] Subject: BlueDog Change Order #2, Rev 5 Brian, The following are our comments to the subject change order. If you like, we can set up a time to discuss these comments. As I mentioned on the phone, many of the comments directed at Part 1, Item 1 are due to the fact I do not have a signed copy of Consent to Assignment. I am searching for a copy at this end, but if you have ready access, a copy would be appreciated. Part I 1. The base contract defines the party GE is contracting with as the "Purchaser". LJM2is the Purchaser under the base contract. I understand assignment of the contract by LJM2 to E-Next is under consideration and was supposed to have occurred in December. I do not have a copy of the Consent signed by GE or any other signed documents indicating that the assignment has taken place. Assuming the assignment has taken place, according to the unsigned documentation I have, Enron North America Corp. should be replaced as the contracting party in paragraph 1 by E-Next Generation LLC as the party that is contracting with GE and is the Purchaser. As I understand the draft Consent agreement, Enron North America is supposed to be the Agent for E-Next and is not the Purchaser. This is consistent with the cover page of the draft CO No. 2. Revision 5 to the Change Order does not quite succeed in making the correction. It should say "... between General Electric Company ("Seller") and E-Next Generation LLC ("Purchaser") dated May 31, 2000 (the "Agreement"), Purchaser, acting through its Agent, Enron North America Corp., hereby amends ...". However, CO No. 2 with this correction to paragraph 1 should not be signed by GE until GE has agreed to the assignment to E-Next. Otherwise, the signed CO. No. 2 could, by itself, be construed as consent by GE to the assignment. 2.1 Delete the added language that begins with the words "on or prior to the Guaranteed Unit Shipment Date(s)...". Because Unit No. 1 is going to storage and the customer controls when it is released from storage and when it gets to the jobsite, the risk of late delivery originally assigned by the contract to GE has shifted to the customer. This is recognized in section 5.5.2 of the contract which states that if GE is directed to ship to storage, for the purpose of assessing LDs and final payment, GE's delivery obligation is deemed fulfilled. The original guaranteed delivery dates are no longer relevant. If the Unit 1 equipment is close enough to being ready for delivery that it must be shipped to storage because the customer cannot take possession of it, it does not matter if we ship to storage before or after the contract delivery dates. 2.2 The comment to 2.1 applies to this paragraph also. Further, there is no guaranteed delivery date for non-Major Components as long as delivery of that equipment does not impede the continuous progress of installation. 2.4 Delete the words "unless caused by Seller or its Subcontractor" at the end of this paragraph. Otherwise, the paragraph first takes a responsibility away from GE and then re-imposes it. As I understand it, there is a significant possibility that some cosmetic deterioration to external surfaces will occur to the equipment while it is in storage. This is a function of the storage conditions and GE is responsible for those conditions. 2.6 Delete in its entirety the second sentence which reads "Passage of title and warranty obligations of Seller with respect to the Unit 1 Equipment remain unchanged under the Agreement". Article 5.5.2 makes it clear that Purchaser's direction to place equipment into storage causes title to pass and delivery for the purposes of LDs and final payment to occur even though Purchaser has not taken physical possession of the stored equipment. 5.5.2 also indicates that all expenses incurred by Seller as the result of placing equipment into storage shall be payable by Purchaser. These expenses include any extension of the Primary Warranty Period that results from storage. The deleted sentence should be replaced by: "The parties agree that the Primary Warranty Period for Unit 1 Equipment placed into storage shall be determined in accordance with Article 14.1.1 of the Agreement except that the Primary Warranty Period shall end for the gas turbine and generator no later than March 11, 2004 and for the balance of the Unit 1 Equipment on March 31, 2004 unless extended by mutual agreement." 2.10 We will insure the equipment to 100% of its purchase price. The policy in place will have a $300,000 deductible, for which GE will be responsible. 2.11 Seller's responsibility for both damage and loss, not just loss, should pass to Purchaser. The rest of the changes are acceptable. Regards, Jeff
Chris & Jeff -- Given your pending discussions, thought you should see this information. Not quite sure what SDG&E is up to here, but wanted you to be aware. Jeff, don't know what Mona is thinking about doing, but you may want to talk with her about responses. Jim ----- Forwarded by James D Steffes/NA/Enron on 10/09/2000 03:29 PM ----- Mona L Petrochko@EES 10/09/2000 02:59 PM To: Gary Mirich/HOU/EES@EES cc: Douglas Condon/SFO/EES@EES, Martin Wenzel/SFO/HOU/EES@EES, West GA, Harry Kingerski@EES, James D Steffes/NA/Enron@Enron, Joe Hartsoe@Enron Subject: Re: SDGE represenatation of future market conditions Gary, Thanks for passing this information along. This is a pretty well-documented discussion, which is always helpful when we contact the utility about such conduct. Obviously, this is very concerning about SDG&E counter-marketing, while promoting choice. In addition some of their assumptions seem to require tremendous leaps of faith. I haven't seen an application to aggregate yet, but I would assume there would be heavy protests to such a proposal. (SDG&E solicited my feedback on such a position, and I told them we weren't interested.) I'm not sure what type of ruling they are expecting from FERC, lower price caps or a return to cost-based rates (pretty extreme). Decision, per Sue Mara, is not expected until December. SDG&E does have bilateral contracting authority and at least thus far has not exercised it. Customers have already experienced what "leaving it to SDG&E" will get them. Once bitten, twice shy. Enron Energy Services From: Gary Mirich 10/09/2000 12:03 PM Phone No: 602-840-3800 To: Mona L Petrochko/SFO/EES@EES cc: Douglas Condon/SFO/EES@EES, Martin Wenzel/SFO/HOU/EES Subject: SDGE represenatation of future market conditions Mona, I thought you should have the following information due to your ongoing work with SDGE to facilitate open market choice by their regulated customers. As you know I've been working with SAIC to close business for the last 60 days. We had offered them a 26 month price on 50% of their load for approximately 7.5 cents/kWh. They compared our offer(s) to others that were significantly higher. As part of their decision-making process, and in an attempt to confirm that SDGE wasn't preparing to release any kind of drastic rate reduction/relief in the immediate future, SAIC's treasurer called SDGE's CEO for a meeting with an SDGE exec. On 9/27, SAIC's treasurer Dan Baldwin met with SDGE's SVP of Fuels and Power Ops, Gary Cotton. Another SAIC exec, Rene Terrazas, VP Real Estate, was also in that meeting. He is my source for the following comments from SDGE: 1). SDGE expects to be given authority very soon to aggregate customers, much like direct access providers, in order to provide better-than-market pricing. 2). SDGE expects FERC to "come out with something" that will reduce the prices that retail standard offer customers are paying. No detail from SDGE on what form FERC's action would take or when. 3). SDGE's recent bilateral contracting authority should result in lower prices for SAIC. 4). SDGE suggested that very few customers have switched to DA because their is too much uncertainty about the future. He said that SAIC is part of 97% of SDGE's customers that have not switched to date. 5). This SDGE exec said he thought that prices would soon return to a more reasonable level, and that SAIC should be expecting direct access prices around 5 cents/kWh. Even though SAIC currently suffers from analysis-paralysis, SDGE's comments about the state of the market are very concerning. First, pawning off SAIC to an exec in fuels and ops for advise about the retail open market hardly seems appropriate. Second, SDGE's suggestion to SAIC that they are somehow in good company by waiting is directly in contrast to what SDGE's regulatory affairs people are attempting to promote with the supplier selection initiative. Third, for SDGE to even hint that there are regulatory (FERC, CPUC, or otherwise) "fixes" soon to be announced that will relieve SAIC's pricing dilema is at the very least irresponsible. In Rene's opinion the SDGE exec was using the same old "fear, uncertainty, and doubt" lines that utility execs typically employed prior to direct access in their efforts to retain customers! Finally, and most concerning to me, is that SDGE has an executive willing to make a guess about the price SAIC should be expecting to receive in this market. Many market sources (eg: Bloomberg) besides Enron wouldn't predict a price as low as 5 cents. Nevermind that Mr. Cotton is likely unqualified to make such a claim, but even if he was, I think he is way off base for even entertaining the question. In light of our efforts to work with SDGE to facilitate customer transition to DA, I think these comments indicate that their executive team is not truly on board with the work of SDGE's regulatory affairs. EES is in a "stand down" right now with SAIC, who decided after their meeting with SDGE that Enron's offer may not be as competitive as previously believed. Their treasurer has decided to wait and see - perhaps a month or more. Irrespective of my ability to close this deal today or in the future, I wanted you to be aware of the SDGE's comments and how they've impacted one SDGE customer's decision to "leave the utility". Perhaps we should suggest that customer inquiries like those of SAIC go through regulatory affairs instead of execs who have twisted and/or minimal information and a willingness to guess about the future. Your comments welcome. thanks much Gary.
Forwarding to you at the request of Christi Nicolay. ---------------------- Forwarded by Linda J Noske/HOU/ECT on 07/05/2001 09:58 AM --------------------------- From: Joe Connor@ENRON on 07/05/2001 09:12 AM To: Tom Chapman/HOU/ECT@ECT cc: Christi L Nicolay/HOU/ECT@ECT Subject: Re: Southern RTO Latest info on Southern for your meeting with Kean and Ed Holland today. ----- Forwarded by Joe Connor/NA/Enron on 07/05/2001 09:10 AM ----- James D Steffes 07/02/2001 04:20 PM To: Steven J Kean/NA/Enron@Enron cc: Richard Shapiro/NA/Enron@Enron, Joe Connor/NA/Enron@Enron Subject: Re: Southern RTO Steve -- If still ok, I think that we should try and establish the date for the Southern - Enron meeting per Joe's message below. It would be good to hear their viewpoints (just to know where they are coming from). Jim ---------------------- Forwarded by James D Steffes/NA/Enron on 07/02/2001 04:18 PM --------------------------- From: Joe Connor on 07/02/2001 10:43 AM To: James D Steffes/NA/Enron@Enron, Christi L Nicolay/HOU/ECT@ECT, Sarah Novosel/Corp/Enron@ENRON, Donna Fulton/Corp/Enron@ENRON cc: Subject: Re: Southern RTO I met with Andy Dearman and Bill Newman of Southern on Friday. They talked about what is going on with the non-jurisdictional utilities that have signed a MOU to develop a RTO. The group has met a couple of times to discuss the process they will use. Confidentiality agreements have been signed, so no details are available, but they have agreed to a voting structure for the development. Southern has about one third of the votes (and 65%of the assets) and it takes at least two other parties agreeing with Southern to carry a vote. Southern says they spent a lot of time convincing the other parties that Southern was not going to run, or dominate, the process. After that, Southern said the group started to pull together and get organized for the development. They said everyone in the group appeared to be ready to find ways to make the RTO work and resolve the hurdles the non-jurisdictional utilities have been expressing with the development of other RTOs. They said there were some rough spots that had to be resolved and they couldn't be sure agreement would be reached, but at this point there was a lot of cooperation. Andy and Bill wanted to convince me that this was not a delaying tactic by Southern and they were doing everything possible to ensure that a complete RTO filing could be ready by 12/15/01. They also said they thought this is what Ed Holland wanted to discuss with Steve Kean. We talked about how other stakeholders could have input to the development. They said that it was too early to make any commitment, but the group had started thinking about it and they expected an input process to be available by late summer. They said Southern was in favor of some process that would provide stakeholders the opportunity to look at what was being considered and advise the development group as early as possible. They said they understood the difficulty stakeholders had with the approach Southern used in its initial filing and wanted to do it different, but they pointed out again that Southern could not dictate the process that would be allowed by the group. In the meantime, they said if we wanted to provide position papers on any part of the RTO development they would make sure the papers were circulated in the group or we could continue to hold bilateral discussions with them or other members of the development group. Jim, I still think it would be worthwhile to have a meeting between Ed and Steve Kean, and I would include you and invite Andy and Bill to come. I don't think they want to discuss anything technical at this point; they just want to convince Enron that the approach Southern is taking provides the quickest development of a RTO for the Southern area, and they want any help we can give in convincing FERC to let this process run. I also think we need to pass on filing a response to Southern's May 15th status report, either alone or with Alabama Municipal Electric Authority ( Donna, I guess that's who you meant in the memo below, since AEC has signed a MOU with Southern?). I will get in touch with Bob Reilley to find out why we haven't heard from EPSA on its filing. I still think that's the best approach. Donna Fulton 06/28/2001 12:02 PM To: Joe Connor/NA/Enron@Enron, Tom Chapman/HOU/ECT@ECT cc: James D Steffes/NA/Enron@Enron, Christi L Nicolay/HOU/ECT@ECT, Sarah Novosel/Corp/Enron@ENRON Subject: Southern supplemental status report I am attaching the supplemental status report that Southern filed in its RT01-77 on June 20. They have included MOUs with Georgia Transmission Corp, Santee Cooper and Alabama Electric Coop to work on development of an RTO. These are really general, more of the same of what we've seen from Southern. Also we had talked about possible comments on the May 15 Southern filing; Coral was working on comments through EPSA. Nothing has been filed by EPSA yet. Alabama did file comments on the May 15 status report and they have asked that the FERC establish a technical conference to "publicly air and evaluate the alleged governance concerns and the concerns regarding significant delay..." Following a technical conference, they ask for a judge to convene a settlement conference at FERC to "undertake a properly supervised and serious development of an RTO for the SE without further wasted time." At this point we could consider filing comments in support of the Coop comments.
Over to you. -----Original Message----- From: Arvind Ramanathan <[email protected]>@ENRON [mailto:IMCEANOTES-Arvind+20Ramanathan+20+3CArvind+2ERamanathan+40techspan+2Ecom+3E+40ENRON@ENRON.com] Sent: Monday, June 04, 2001 8:58 PM To: Zipper, Andy Subject: Value Proposition for Enron from TechSpan Hi Andy Hope you have had a chance to review our earlier details and hopefully it would have given you further insights into our capabilities. During the recent Board meeting with Goldman Sachs, our Enron strategy was discussed and we indicated our correspondance with you. All of us are very exited and working on ways of initiating the process. Moreover, due to the strategic nature of partnership, our Management has also decided to invest in developing this association. I would discuss the proposition (from our Senior Management) during a telecon and you could assess the feasibility. Meanwhile, some areas that we are currently working with Goldman Sachs, Nortel, Chevron, HP, etc are indicated below and we could replicate the same with Enron: 1. Module Development or enhancements to existing applications - Portal - Adaptor/Connector Development - Integrating online trading apps with Back End systems - Ariba customization/enhancements - Content Management - e-Procurement & EBPP - other application specific integration 2. Maintenance & enhancements (Could be done in India for cost saving and round the clock operations) 3. Re-engineering, Migration and porting for your existing applications 4. QA Andy, we are confident that this proposition of ours would be very attractive and would go a long way in developing a strong association. Could we discuss our business proposition this week ? I could call your admin assistant tommorow (6/5) and fix up a suitable time for the call (10 - 15 Minutes Max.) We could follow this up with a technical meeting to identify specific areas, should you feel comfortable with our proposition. Looking forward to our discussions. Thks, Arvind Tel : 408. 530.5570 Cell : 408. 828.6391 www.techspan.com -----Original Message----- From: Arvind Ramanathan Sent: Thursday, May 24, 2001 12:08 PM To: '[email protected]' Subject: RE: Partnership: Enron & TechSpan (Goldman Sachs Funded Company) Dear Andy Thanks for your Mail. I sincerely hope you were able to get a high level overview of our company. Further to my earlier mail, i am enclosing the information which could provide further insight into our company. Pls include them in your assessment process and give me a feedback if you require any further clarification. We look forward to meeting you and your team for an presentation and the value we could bring to Enron. In the presentation, we would cover our Methodology, Processes, Competencies, Clients , Case Study & our economical/cost effective deployment processes. Some synergies i perceive; Enron's initiative in ClickPaper could map well based on our experience in Forest Express , EnronOnline could map into our experience with RMX/Chevron or American Petroleum Exchange, Dealbench.com maps well with our experience with eBreviate on the hosted ASP model for eRFP,Auctions,Supplier Search. Moreoever, our development labs in India could add great value for your module development, ongoing support, maintenance, QA, Porting work; deploying a very low cost structure. 1. TechSpan Details: I have enclosed the following - 1.1 Company Overview (Management, Revenues, Growth, Locations, Services, Competencies, etc) 1.2 TechSpan B2B Markets Expertise Brochure 1.3 Case Study - e2Open , Traiana 1.4 Projects with Ariba & MOAI 2. Other Details which could be of interest 2.1 TechSpan has been featured on IDC's analysis (Report No. 23918) " IDC believes that TechSpan has done a good job of melding its evolution as a services business to that of its partnerhips" 2.2. BEA's Partner brochure on its competency (attachment), wherein TechSpan has been evaluated at par with KPMG & CSC. All our clients have also realized the value in TechSpan and all have positioned us equivalent (and higher in many cases)to any Big 5 Consulting firm. 2.3. INDIAN E-BIZ CONSULTING MARKET WORTH $136 M.: V&D TechSpan tops the Big Six list of e-biz consultants in India with total business worth $67 million, followed by Planetasia and MindTree. The study has identified pricing as the one big advantage enjoyed by Indian pure play Internet Professional Services companies. http://ciol.com/content/news/repts/101020511.asp?nl=ctd-mar5 2.4 Inc. Magazine and Cisco Systems Name TechSpan, Inc., Finalist at Growing with Technology Awards Ceremony http://www.techspan.com/news/prcisco.html 2.5. TechSpan Ranked on Sm@rtReseller's Smart 100 Companies List http://www.techspan.com/news/prsmartreseller.html In summary, we are a young company (two years in operations) with high ambitions and clearly articulated vision of being a leader in the e-commerce consulting space. We have achieved major milestones in being a $ 67.0 Million company within 2 years, largely due to the confidence exhibited by our customers and partners. Though the above are some achievements in the past (giving you a base comfort factor on our long term stability), we are keen in discussing what value we could bring to Enron, now and in the future. Thks, Arvind Arvind Ramanathan Business Development Manager TechSpan Inc. Tel : 408. 530.5570 Cell : 408. 828.6391 www.techspan.com
---------------------- Forwarded by Susan M Scott/HOU/ECT on 03/28/2000 12:06 PM --------------------------- Enron Capital & Trade Resources Corp. From: [email protected] 03/28/2000 11:22 AM 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] cc: Subject: Hit the Floor - True Story Hit The Floor' A True Story... > > > > On a recent weekend in Atlantic City, a woman won a > > bucketful of quarters at a slot machine. She took a > > break from the slots for dinner with her husband in > > the hotel dining room. But first she wanted to stash > > the quarters in her room. > >"I'll be right back and we'll go eat," she told her husband > >and she carried the coin-laden bucket to the elevator. > > > > As she was about to walk into the elevator she > >noticed two men already aboard. Both were black. > >One of them was big ... very big ...an intimidating > >figure. The woman froze. Her first thought was: > >These two are going to rob me. > >Her next thought was: > >Don't be a bigot, they look like perfectly nice gentlemen. > > > >But racial stereotypes are powerful, and fear immobilized her. > >She stood and stared at the two men. > >She felt anxious, flustered, and ashamed. > > > >She hoped they didn't read her mind, but knew they > >surely did; her hesitation about joining them on the > >elevator was all too obvious. Her face was flushed. > >She couldn't just stand there, so with a mighty effort of will > >she picked up one foot and stepped forward and followed > >with the other foot and was on the elevator. > > > >Avoiding eye contact, she turned around stiffly and > >faced the elevator doors as they closed. A second > >passed, and then another second, and then another. > >Her fear increased The elevator didn't move. Panic > >consumed her. My God, she thought, I'm trapped and > >about to be robbed. Her heart plummeted. > >Perspiration poured from every pore. Then ... one > >of the men said, "Hit the floor." > >Instinct told her: Do what they tell you. > > > >The bucket of quarters flew upwards as she > >threw out her arms and collapsed > >on the elevator carpet. > > > > A shower of coins rained down on her. Take my money > >and spare me, she prayed. More seconds passed. > > > >She heard one of the men say politely, 'Ma'am, if > >you'll just tell us what floor you're going to, > >we'll push the button.' The one who said it had a > >little trouble getting the words out. He was trying > >mightily to hold in a belly laugh. > > > >She lifted her head and looked up at the two men. > >They reached down to help her up. > >Confused, she struggled to her feet. > > > >"When I told my man here to hit the floor," said the > >average sized one, "I meant that he should hit the > >elevator button for our floor. I didn't mean for > >you to hit the floor, ma'am." He spoke genially. > >He bit his lip. > >It was obvious he was having a hard time not laughing. > > > >She thought: my goodness, what a spectacle I've made > >of myself. She was too humiliated to speak. She > >wanted to blurt out an apology, but words failed her. > > > >How do you apologize to two perfectly respectable > >gentlemen for behaving as though they were going to > >rob you? She didn't know what to say. > > > >The 3 of them gathered up the strewn quarters and refilled her bucket. > >When the elevator arrived at her floor, they > >insisted on walking her to her room. She seemed a > >little unsteady on her feet, and they were afraid she > >might not make it down the corridor. At her door > >they bid her a good evening. > > > >As she slipped into her room she could hear them > >roaring with laughter while they walked back to the > >elevator. The woman brushed herself off. > >She pulled herself together and went downstairs for > >dinner with her husband. > > > >The next morning flowers were delivered to her > >room-a dozen roses. Attached to EACH rose was a > >crisp one hundred-dollar bill. The card said: > > > >Thanks for the best laugh we've had in years' > >It was signed, > > > > Eddie Murphy > > Michael Jordan > > >
Wade, I have decided that everything currently in our system is incorrect. Please set up a meeting with all the people shown above and we will discuss how to correctly handle this in our system. We also have some other supply behind the LDC that we might as well handle correctly. Wade, while we are at it, do you want us to look at NYSEG, CPA, and East Ohio??? Any others? People I need in attendance Mary Theresa or Jeanne Steve Gillespie Angie Sylvia Campos (or someone from the contracts group) This is what I'm thinking, everyone please think about this before we meet. I think I will have Peoples set up as a pipeline and we will move all the deals to this new pipeline. Steve, get the Peoples password from Angie. I need you to go into escript (Angie can help you with this) and run anything you can get out of this system. These are actually CES passwords. It is my intention to use this information to set up transport or pooling contracts in Sitara. From: John M Singer @ ENRON 08/30/2000 06:46 AM To: Victor Lamadrid/HOU/ECT@ECT cc: Wade R Price/HOU/ECT@ECT, Chris Germany/HOU/ECT@ECT, Angie Zeman/Corp/Enron@ENRON@ECT, Gloria G Barkowsky/HOU/ECT@ECT, Mary Theresa Franklin/HOU/ECT@ECT, Melissa K Ratnala/HOU/ECT@ECT, Bryce Baxter/HOU/ECT@ECT, Katherine L Kelly/HOU/ECT@ECT, Jeanne Wukasch/Corp/Enron@ENRON@ECT Subject: Re: Phillips Production Co - PNG City Gate Production Phillips Production has/had two seperate PNG deals: 1. 500 MCFD; $2.82/MCF; 1/1/00 - 6/30/00 2. 300 MCFD; $2.95/MCF; 1/1/00 - 11/30/00 To my knowledge, PNG does not send out production information to either the producer or the pool operator. This information should be available on E-Script. Phillips gets their production volumes (which they use to create our invoice) from the company integrating the meter charts. I beleive that this is the same information provide to PNG. John From: Victor Lamadrid @ ECT 08/29/2000 05:47 PM To: Wade R Price/HOU/ECT@ECT cc: Chris Germany/HOU/ECT@ECT, Angie Zeman/Corp/Enron@ENRON, Gloria G Barkowsky/HOU/ECT@ECT, Mary Theresa Franklin/HOU/ECT@ECT, Melissa K Ratnala/HOU/ECT@ECT, Bryce Baxter/HOU/ECT@ECT, John M Singer/Corp/Enron@ENRON, Katherine L Kelly/HOU/ECT@ECT, Jeanne Wukasch/Corp/Enron@ENRON Subject: Re: Phillips Production Co - PNG City Gate Production Wade, Thanks for bringing this issue to our attention. But I need help understanding this one. We have a process already to handle John's behind the citygate deals Since, the actual scheduling is done by CES in Virginia, we never nominate this gas nor do we see actuals. We hear about them from John and Terry and we are supposed to get confirms from the producer and CES. Whenever one of these deals occurs, we have buys from the producer and sales to CES to account for these transactions internally. It's my understanding that whenever John cuts one of these behind the citygate deals; that Terry puts it into Sitara for him. The offset also entered by Terry is a sale to CES (Now the New Power Company effective Sept. 1) with commercial (usually Chris Germany) confirming the sale price. Angie schedules it in Unify under CNG and we create, track and balance like usual. Is that not the case here? Is this something that's getting reconciled in Jeanne and Terry's project for CNG??? By cc: Angie, please get with Terry /Jeanne and Chris to help Wade. THANKS! Please keep me abreast of the status. Wade R Price 08/29/2000 02:53 PM To: Victor Lamadrid/HOU/ECT@ECT cc: Chris Germany/HOU/ECT@ECT, Angie Zeman/Corp/Enron@ENRON, Gloria G Barkowsky/HOU/ECT@ECT, Mary Theresa Franklin/HOU/ECT@ECT, Melissa K Ratnala/HOU/ECT@ECT, Bryce Baxter/HOU/ECT@ECT, John M Singer/Corp/Enron@ENRON Subject: Phillips Production Co - PNG City Gate Production ENA is being invoiced by Phillips Production Company for production on Dominion Transmission (CNG) via Peoples Natural Gas. This is behind-city-gate gas that we do not get documents supporting the volumes. I have invoices and production statements from Phillips. Per John Singer Notes Mail of 08/23 concerning the July production," Phillips Production / Peoples: Price: @ $2.95/Mcf Term: 1/1/2000 - 11/30/2000 Est. Volume: 500/MCFD (Actual Volume will vary.) I have no way of verifying the actual volume. Chris Germany and Angie Zeman will try to get into CES's PNG pool via E-Script. This may be the only way to verify actual volumes. I have a call into Phillips to see if they might have a pipeline statement verifying volumes." Joihn's call to Phillips read partially, " I just talked to Sam Fragale @ Phillips. The 7,843 Mcf @ $2.95 is ENA's. " Our deals have been using point 20200 on Dominion Transmission (CNG). Deals for Jan 00 - Mar 00 were 210359 and 210364. These were copied to 226543 and 229733 respectively for April 00 forward Deal 226543 has April 00 only, but should probably be extended through June-00 according to deal notes from John. Here is our current status on this gas Prod Invoice Invoice Current Month Volume Price Unify Vol Sitara Deal May-00 4801 @$2.82 163 226543 (has April-00 only, should extend through June?)) 9748 @$2.95 353 229733 June-00 5341 @$2.82 0 226543 (has April-00 only, should extend through June?)) 9394 @$2.95 0 229733 July-00 7843 @$2.95 9552 229733 We need to get our proccess together for handling this each month through the end of the deal terms. Please direct the appropriate parties to help make these invoiced volumes available on the deal and in Unify so I can pay Phillips. Thanks WRP
Hi, Stephanie. To unsubscribe from the list, please do the following: 1. Send an e-mail to: [email protected] 2. In the BODY of the e-mail, types the words "SIGNOFF RRGA-L" 3. Make sure there is NO OTHER TEXT AT ALL in the body of the e-mail you send (such as a sender signature). This will take you off the list. My apologies for the inconvenience and annoyance. - Sarah ----- Original Message ----- From: "Watson, Stephany A - LT-7" <[email protected]> To: <[email protected]> Sent: Tuesday, May 15, 2001 5:23 PM > I can be deleted also. > > -----Original Message----- > From: Dalia, Keith A - TOS-DITT1 [mailto:[email protected]] > Sent: Tuesday, May 15, 2001 4:40 PM > To: [email protected] > Subject: > > > You have been added to the RRGA-L mailing list (RTO West Congestion Model > Content Group) by Keith Dalia <[email protected]>. > > Please save this message for future reference, especially if this is the > first time you subscribe to an electronic mailing list. 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I was at the Senate hearing today on FERC's market Monitoring and Mitigation order, and I would add only a few additional and interesting regulatory-related details to John's fine summary: The hearing was contentious- among the Senators themselves, among the FERC Commissioners themselves, and the interchanges between them. Gas prices were controversial. Commissioner Massey kicked off the discussion on this issue citing a transport basis differential into CA of $10, when it was less than a dollar in other areas. He then noted that the high gas cost would adversely affect the power price under the auction, and that FERC must act regarding the high transport differentials- "We will never get a handle on electric prices unless we get a handle on gas prices". That opened the floodgates of discussion, culminating with the announcement by Commissioner Breathitt of FERC's technical conference (notice of which issued today) on the topic of current and projected interstate pipeline capacity, and adequacy of infrastructure within CA. She said that this would shed light on basis differentials and gas prices. Freudian slip? Chairman Hebert was heard to say by various attendees that price mitigation in the WSCC would apply at all times (in contrast to the order, which proposes mitigation only during times when reserves reach/fall below 7%). Whether he mis-spoke, or not, remains to be seen. Regarding the issue of how often mitigation would be invoked in CA (i.e., Stages 1, 2 or 3): Hebert opined "Most of the time". Breathitt said "Likely 80-85% of the time". Massey was unconvinced. Several Senators railed at the Commission for "not doing its job" and threatened that if the Commission did not act, Congress would act. If you have any questions or need additional detail, please feel free to call. Ray ---------------------- Forwarded by Ray Alvarez/NA/Enron on 05/03/2001 06:09 PM --------------------------- John Shelk 05/03/2001 05:49 PM To: Steven J Kean/NA/Enron@Enron, Richard Shapiro/NA/Enron@Enron, James D Steffes/NA/Enron@Enron, Mark Palmer/Corp/Enron@ENRON, Linda Robertson/NA/Enron@ENRON cc: Tom Briggs/NA/Enron@Enron, Ray Alvarez/NA/Enron@ENRON, Joe Hartsoe/Corp/Enron@ENRON, Phillip K Allen/HOU/ECT@ECT, Tim Belden/HOU/ECT@ECT, Chris Long/Corp/Enron@ENRON Subject: House and Senate Energy Hearings Today on California/Western Electric Situation I attended both the House and Senate energy committee hearings today. House hearing was in the Barton Subcommittee (Energy & Air Quality). Senate hearing was on last week's FERC order on a "soft price cap" and related issues. The House witnesses were dominated by California officials: Cal Energy Commission, Cal Air Resources Board, Chairman of Gov Davis Generation Implementation Task Force. In addition, there were witnesses from the Western Area Power Admin and Bonneville PA. The Senate witnesses were the three FERC commissioners. HIghlights Chairman Barton said it is still his intention to try to mark up the Barton bill, H.R. 1647 next week (many on and off the Subcommittee doubt this will happen; we are gathering political intelligence on those prospects and will report back with more information and conclusions once that is done); Chairman Barton also said he may go to California next week. There was considerable emphasis at both hearings about the alleged role that higher natural gas prices into California play in the electric power rate increases; several witnesses focused on difference in alleged transportation costs for similar differences between California and non-CA states; FERC at the Senate hearing said that today the commission announced a staff technical conference for later this month on all aspects of the natural gas market as it relates to California; a House member from Southern Illinois coal country attacked California for using only natural gas in its new power plants. The House witnesses, primarily BPA but also the California witnesses, attacked the negawatt provision in sec. 102 of the Barton bill; the criticism was that BPA would be forced to purchase power on the open market at a high price since it is short, sell it to the DSIs under contract; let the DSI sell it at market rates and capture the difference; BPA witness said that thus sec. 102 would make it difficult if not impossible to implement their strategy to avoid as much as a 200 percent rate increase on 10/1/01; BPA testimony will make it tough for Members of Congress from that service region to support sec. 102. Both hearings also touched on how difficult it would be to actually devise a price cap; at the House hearing, none of those advocating a price cap among the witnesses could answer excellent questions about exactly how this could be done; the witnesses just said "cost plus a reasonable profit" and said leave the details to FERC; at afternoon Senate hearing, Chairman Hebert had the staff bring in 15 boxes from one FP&L case to show how a price cap would take too long to bring any relief to California this summer; he said last week's soft price cap is much better. Also on the price cap, Rep. Walden (R-OR) got the Cal Energy Comm chair to admit that if the price caps had been in place earlier, California would NOT have taken the conservation and new generation steps that it has taken recently. The interplay among the FERC commissioners was much more contentious than it was a House hearing on Tuesday, although it could have been worse; when Senate Chairman Murkowski (R-AK) said that "help is on the way" in the form of the nominees for the two vacancies, Sen. Dorgan (D-ND) made a comment that suggested that the confirmation process will not be smooth; the same concern came from the interplay among the Senators, which was also somewhat contentious at times. Please advise if you have any questions or would like further details.
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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Qualcomm's Sullivan Named 2001 HR Executive Of The Year; Three Others Join HR Honor Roll HORSHAM, Pa., Oct 18, 2001 (BUSINESS WIRE) -- Human Resource Executive, a leading HR business magazine, recently named Daniel L. Sullivan, Ph.D., executive vice president of human resources at Qualcomm Inc. in San Diego, the 2001 HR Executive of the Year. In addition, three other individuals were named to the 2001 HR Honor Roll: David L. Murphy, vice president of human resources at Ford Motor Co.; Anne Szostak, executive vice president and director of human resources and diversity at FleetBoston Financial Corp.; and Francesca M. Spinelli, senior vice president of people at RadioShack Corp. Winners were recognized on Oct. 17 during a special awards dinner sponsored by PeopleSoft aboard the yacht Chere Amie, which launched from the Glorietta Bay Marina in San Diego. Judges for this year's contest included Joan Crockett, senior vice president of HR at Allstate Insurance; Lawrence J. 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This is great info and very helpful. Thanks a million. I'll likely be getting back to you. Best, Jeff James D Foster@EES 03/16/2001 08:49 AM To: Jeff Dasovich/Na/Enron@ENRON cc: Catherine Woods/DUB/EES@EES Subject: Re: More Inquiries From CA PUC re: Switching customers back to LDC Good Morning Jeff, Catherine is out of the office until Tuesday 3/20/01. Not wanting to keep you waiting for a reply, I thought it best to give you some feedback immediately. The great majority of CAD's customers in CA are core. CAD does not knowingly terminate any current customer prior to their expiration date. The reasons why CAD's customers are turned back to the utility are as follows: 1) Upon receiving renewal pricing from the CAD rep, the customer chooses to return to the utility. 2) Understanding that the current minimum margin per meter for our customers is approximately $300, those customers that have extremely low annual volumes are sent attrition letters and turned back to the LDC, at the end of their contract. We cannot competitively price this type of customer versus the utility, and extract enough margin to support them. Currently in the California markets (PG&E, SDG&E, & SOCAL) , there exists approximately 50 customers that have usages so low that given current market conditions, we will not choose to renew the contracts. The expiration dates for these are between 5/30/2001 and 2/28/2005. 3) The customer initiates a request for termination prior to the end of their contractual expiration date. As we are all aware, California customers, specifically those with either an index or NYMEX product, experienced a large swing in their pricing during the past few months. CAD has been inundated with customers requesting to be returned to their LDC. Although we seek to satisfy our customer to the best of our ability, returning these customers to the utility is the LAST thing we want to do!!!!!!! The steps we have taken to address this issue is to: a) work with customer service/credit to offer extended payment options to ease the effect of the increase. b) offer to restructure the customer's contract, and reprice the customer on a fixed price product; minimizing their risk going forward. c) explain to the customer, in more detail, the reasons why this has occurred, and how, going forward, the index/NYMEX pricing has eased. Should you have additional questions, please reply or call. -Jim From: Jeff Dasovich@ENRON on 03/15/2001 04:50 PM CST Sent by: Jeff Dasovich@ENRON To: Catherine Woods/DUB/EES@EES, Dennis Harris/DUB/EES@EES, James D Foster/DUB/EES@EES cc: Roger O Ponce/HOU/EES@EES, Catherine Woods/DUB/EES@EES, James D Steffes/NA/Enron@Enron, Richard Shapiro/NA/Enron@Enron, Karen Denne/Corp/Enron@ENRON, [email protected], Paul Kaufman/PDX/ECT@ECT, Harry Kingerski/NA/Enron@Enron, Peggy Mahoney/HOU/EES@EES, [email protected], [email protected], Leslie Lawner/NA/Enron@Enron, Rebecca W Cantrell/HOU/ECT@ECT, Phillip K Allen/HOU/ECT@ECT, Richard B Sanders/HOU/ECT@ECT, Shelley Corman/Enron@EnronXGate, Mike D Smith/HOU/EES@EES Subject: More Inquiries From CA PUC re: Switching customers back to LDC Greetings: Recall that about 3 weeks we got a call from a CA PUC staffer asking whether we'd switched a particular gas customer (or two) back to the LDC. We looked into it and discovered that we'd mistakenly switched the customer back due to a mix up about the fact that the customer had two active meters behind two different utilities. We informed the PUC staffer of the mix-up and explained that the situation would be resolved. The questions from the staffer arose because the CA PUC made a bad decision a couple of months ago. When gas prices ran up at the California border a lot of large ("noncore") customers attempted to switch back to the utility tariff in the hope of lowering gas costs. In response, SoCalGas filed with the Commission asking the PUC to prohibit customers from switching back. The Commission agreed and put the prohibition in place. The Commission is now concerned that if suppliers terminate their contracts with customers (for whatever reason), or choose not to renew the contracts when they expire, customers won't have the option of returning to LDC service. Today, I received a letter from the President of the Commission asking me to respond to the following: Have you "stopped selling and delivering natural gas to any non-core customers with whom you have an existing procurement contract, or...notified any of your non-core customers that you do not intend to renew an existing natural gas commodity procurement contract. If your company has stopped or intends to stop serving non-core customers, the CPUC also needs to know how many contracts you have terminated or expect to terminate the natural gas volumes involved the location of the non-core customer(s) the reason(s) your company intends or has already acted to terminate those contracts." There's a good chance that the letter from the President of the Commission is linked to the fact that we've recently switched our electricity customers back to utility service in California. Prior to deciding whether and how to respond to the Commissioner, I'm trying to get handle on whether we're re-sourcing any gas retail customers to the utility prior to expiration, choosing not to renew contracts once they've expired, etc. Catherine, or Jim Foster, can you help out? Thanks. Best, Jeff
----- Forwarded by Jeff Dasovich/NA/Enron on 07/06/2001 07:15 PM ----- > POWER POINTS:Nevada Suffers FERC Unintended Consequences > > By Mark Golden > A Dow Jones Newswires Column > > NEW YORK (Dow Jones)--Those who have opposed wholesale electricity price > controls have been labeled as extreme free-market ideologues who are > insensitive > to the practical impacts on peoples' lives of high electricity prices. > But the most common argument against price caps has been logical, not > ideological: Price controls have never worked. Market participants always > find a > way around the rules. > This week the Federal Energy Regulatory Commission decided that it will > have > to consider at its meeting next week revisions to its June 19 price > control > ruling. The initial price cap rule, set by the California Independent > System > Operator last spring, was only a few paragraphs long. Each successive > price cap > order has gotten longer, though effectiveness still appears out of reach. > The > FERC's April order was 28 pages long; the June order was 48 pages. And now > additional rules are on call to plug the new loopholes. > The revisions will also try to repair damage done to the market by the > June > order. During a spell of very hot weather Monday, Sierra Pacific Resources > (SRP) > subsidiary Nevada Power had to initiate limited rolling blackouts to a > small > number of customers for 45 minutes. The company attributed the blackouts, > in > part, to the new price controls. > Sierra Pacific's chief spokesman, Paul Heagen, provided a bird's eye > view of > the practical realities of the FERC's new price cap regime. > Power Points: After having a few days to look into it, can you say that > price > caps definitely contributed to blackouts in Nevada on Monday? > Paul Heagen: Yes, but first let me say that all of it was unintentional. > FERC > was trying to do the right thing. Price caps were a noble effort to solve > a real > problem in California. > But on Monday the market needed speed and clarity to function. It had > neither, > and that can be attributed to the price caps. Normally, in one or two > phone > calls we could have got what we needed. On Monday, we were five to six > calls > into it and still on the phone. > Price caps are having the unintended consequence of dragging other > states into > the California morass. We have this artificial environment which we are > all > trying to sort through. > PP: How, specifically, are the caps having this effect? > PH: There are a couple of elements. The 10% premium for power sold to > California is supposed to reflect concerns about credit. That 10% in an > open > market is no big deal, but in a constrained situation the seller will grab > it, > because now it's his only chance to make money. > Also, the way this is set up, they look backwards. They determine the > price > after the fact. I can't think of any business in the world where you sell > a > product and find out later what price you sold at. > This had a very chilling effect on people's willingness to sell. > Normally, a > cloud cover comes in and a utility has a little extra power to sell in the > real-time market. Normally, those little 50-megawatt packets move pretty > easily, > and that's really important for maintaining reliability. > With the price cap, utilities hunkered down. Selling at $92 wasn't worth > the > risk. They figured they might as well hang on in case they needed it. > Also, we have a voluntary curtailment program that allows us to share > savings > with customers who agree to curtail use. If the market is, say, $500, we > might > pay them $250/MWh to curtail demand. But in a $92/mkt, we can offer them > such a > small amount of money that they stay on. > PP: Have you talked to FERC about these problems with the price > controls? > PH: We've had a senior team in Washington, D.C., at the FERC since last > week. > Right away we saw another effect of the FERC order: It penalizes companies > like > ours that signed long-term supply contracts before the order because many > of > those deals were done at prices above the price cap. > The biggest issue for us, is, did FERC really mean to penalize companies > like > us that planned ahead? It's long-term contracts that provide price > stability. > It's unfair to our customers to expect them to pay for long-term > contracts > that have been undercut by price caps. If we get into a situation where we > have > a little extra to sell, now we can't recover our costs. > PP: With such high prices the past year, a lot of small, oil-fired > turbines > have been dusted off and put into service on time for this summer. Traders > for > other southwest utilities have said that all these little turbines have > been > very helpful when supplies got tight earlier in the year, but they weren't > available this week because they cost more to run than the price cap. Did > you > see the same thing? > PH: We have some small turbines that we put in Reno and the Lake Tahoe > area in > the last few months. They were supposed to provide peak power, but they > get > uneconomic in a hurry under the price cap scheme. > You know, we've tried to isolate ourselves as best we could from the > California situation and behave very independent of how California > behaves. So > Nevada is a great test case to see if price caps have an unintended effect > outside of California. We were able to minimize the impact on our > customers > Monday, but the situation has maximized the attention of the country on > the > impact of price caps. > -By Mark Golden, Dow Jones Newswires; 201-938-4604; > [email protected] > > (END) DOW JONES NEWS 07-06-01 > 03:14 PM- - 03 14 PM EDT 07-06-01 >
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----- Forwarded by Roseann Engeldorf/Corp/Enron on 01/08/2001 03:11 PM ----- Lisa Bills/ENRON@enronXgate 01/08/2001 10:50 AM To: Mike J Miller/HOU/ECT@ECT, Ben Jacoby/HOU/ECT@ECT, Ozzie Pagan/HOU/ECT@ECT, Christopher F Calger/PDX/ECT@ECT cc: Roseann Engeldorf/Corp/Enron@ENRON, Catherine Clark/ENRON@enronXgate Subject: RE: Format - Enron Draft MOU Below are my comments to the attached MOU. I will let Rose Engeldorf correct my comments, add her own after she reads this. 1. As we told GE when we transferred the existing equipment from WestLB to TurboPark, TurboPark is the vehicle we will be using to acquire most if not all future equipment orders. 2. Cover: Turbine Purchase Agreement between E-Next Generation LLC Acting through its Agent Enron North America Corp. and General Electric Company for Four ...... - this is the standard we have used with GE under the WestLB structure. It remains the same except that the Purchaser/Buyer is now E-Next Generation LLC. 3. Pg 2, first para: Buyer is "E-Next Generation LLC", a Delaware limited liability company with a principal place of business at Rodney Square North, 1100 North Market Street, Wilmington, DE 1989-0001, Attention: Corporate Trust Administration. Not sure this is necessary - see 4. below. 4. Pg 2, first para: To match our other existing turbine contracts: "This Turbine Purchase Agreement ..... is entered into as of the ...... by and between GE....("Seller") and E-Next Generation LLC ("Buyer"), acting through its agent Enron North America Corp., a corporation incorporated under the laws of the state of Delaware, with offices located at 1400 smith Street, P.O. Box 1188, Houston, TX 77251-1188 ("Agent"). 5. Pg 2, second Whereas: For accuracy and only if needed since not in existing contracts: Replace "Buyer" with "Agent". 6. Pg 2, new Whereas: To clarify relationship between Buyer and Agent, conforms to existing contracts: "Whereas Buyer has assigned and delegated certain of its rights, responsibilities and obligations under this Agreement to Agent and Agent has accepted same assignment and delegations as set forth in this Agreement." 7. Clause 1, first full para: On last line, please delete "Max" after Dog, before Projects and delete everything after Projects. 8. Clause 1, (c) - (e): Need to clarify that Agent, on behalf of Buyer, will be party responsible for negotiating these points with GE. 9. Clause 3 (a): in (2) and (3) need to insert "than" after later. 10. Clause 3(a): in last sentence, (b) and (c) need to be changed to (2) and (3). 11. Clause 5(b): Cleanup: insert "or" after ";" at end of (2). Insert "to" after "Parties" in (3). Insert "on" at beginning of (4). In full para. need to change reference to clause "7" to clause "5". In last full line of para, "Proposal" is not a defined term and doesn't seem to fit in this document since this Agreement in clause 8 is all that is to be effective. 12. Signature Line: ENA, as Agent for E-Next Generation LLC. 13. If we are successful, we will need the payment schedules, amounts and cancellation schedules, amounts for TurboPark allocation. Please call with any comments. -----Original Message----- From: Miller, Mike Sent: Friday, January 5, 2001 2:57 PM To: Bills, Lisa; Jacoby, Ben; Pagan, Ozzie; Calger, Christopher Subject: Format - Enron Draft MOU Attached below is the standard form GE Term Sheet. Certain items have been left blank, including price and shipment dates. GE told me that the $39,970,000 per turbine set number is still the notional price based on the GenPower Dell scope. This aforementioned scope means that we will need to purchase an extra static starter ($900,000) and a water wash skid ($150,000) to take two sets of two turbines and split them up intop three projects (Longview, Ft Pierce, Fla Peaker). As usual, things like dual fuel ($2 MM), peaker stacks ($1.5-2MM) and inlet cooling options are scope additions and are not included in the MSRP. Please get me your comments as soon as possible to keep the process moving. We can use this term sheet with business points discussed with GE to get the DASh process moving. Shipment dates are still uncertain. GE will try and accomadate us with turbines that will work for combined cycle as well as peakers for summer 2003 start dates. We will not know what (if any) turbines that we will get until GE goes into their DASH process next week. Thanks, Mike J Miller ---------------------- Forwarded by Mike J Miller/HOU/ECT on 01/05/2001 02:39 PM --------------------------- [email protected] on 01/05/2001 01:01:05 PM To: [email protected] cc: [email protected] Subject: Format - Enron Draft MOU Dear Mike Here the format of an MOU for units, however this is not an offer to sell. The potential ready to ship dates and pricing have been deleted. Best Regards John John H Schroeder, Jr. GE Power Systems Account Mgr. 2707 North Loop West, 9th Floor Houston, Texas 77008 (713) 803-0525 Fax - 0567 > -----Original Message----- > From: Swift, Stephen L (PS, CommOps) > Sent: Friday, January 05, 2001 10:37 AM > To: Schroeder, John H Jr (PS, Sales) > Subject: Enron Draft MOU > > John, > > Attached is a typical MOU that we would use with Enron. We are not > authorized to make any offers to customers until after Tuesday 1/9/01 if > any units are made available to us. We can circulate this for Enron to > begin a preliminary review with the understanding this is not an offer to > sell. > > Let me know if you have any questions. > > Steve Swift > > > > <<TPA Rev Draft.doc>> - TPA Rev Draft.doc << File: TPA Rev Draft.doc >>
thanks df From: Martha Benner/ENRON@enronXgate on 03/20/2001 03:36 PM To: Drew Fossum/ET&S/Enron@ENRON cc: Ann Smith/ENRON@enronXgate, Emily Sellers/ENRON@enronXgate Subject: RE: RSVP Form Update (Distribution List 1) Drew, I need to discuss this with you before I fill out the form. First of all it has to be done on-line so I think it is best to do it from your machine so I am not the one registered. Second I need to make your flights before I do the form. We can talk about this on Thursday PM or Friday and make the reservations and do the form at that time. Martha -----Original Message----- From: Fossum, Drew Sent: Tuesday, March 20, 2001 1:59 PM To: Smith, Ann; Benner, Martha Subject: RSVP Form Update (Distribution List 1) I guess the first form was broken. df ---------------------- Forwarded by Drew Fossum/ET&S/Enron on 03/20/2001 01:58 PM --------------------------- From: Sara Davidson/ENRON@enronXgate on 03/19/2001 05:16 PM To: James Derrick/ENRON@enronXgate, Stephanie Harris/ENRON@enronXgate, Rob Walls/ENRON@enronXgate, Rex Rogers/ENRON@enronXgate, Clement Abrams/ENRON@enronXgate, Jim Armogida/ENRON@enronXgate, Ann Ballard/ENRON@enronXgate, Sharon Butcher/ENRON@enronXgate, Robert Eickenroht/ENRON@enronXgate, Mark Holsworth/ENRON@enronXgate, Kriste Sullivan/ENRON@enronXgate, Melinda Winn/ENRON@enronXgate, Carol Essig/ENRON@enronXgate, [email protected]@SMTP@enronXgate, David Nutt/ENRON@enronXgate, Mary Berg/ENRON@enronXgate, Robert C Williams/ENRON@enronXgate, Michelle Blaine/ENRON@enronXgate, Gail Brownfeld/ENRON@enronXgate, Jan Cooley/ENRON@enronXgate, Paulette Obrecht/ENRON@enronXgate, Jordan Mintz/ENRON@enronXgate, Gareth Bahlmann/ENRON@enronXgate, Julia H Chin/ENRON@enronXgate, Nora Dobin/Corp/Enron@ENRON, Joel Ephross/ENRON@enronXgate, Brenda L Funk/ENRON@enronXgate, Gina Karathanos/ENRON@enronXgate, Charles Cheek/ENRON@enronXgate, Britt Davis/ENRON@enronXgate, David Grant/ENRON@enronXgate, Eileen Kisluk/ENRON@enronXgate, Robert Vote/ENRON@enronXgate, Bonnie White/ENRON@enronXgate, Rita Bahner/ENRON@enronXgate, Tracy Carter/ENRON@enronXgate, Lisa Robichaux/ENRON@enronXgate, Kathy Siess/ENRON@enronXgate, Becky Zikes/ENRON@enronXgate, Becky Stephens/ENRON@enronXgate, Michael P Moran/ENRON@enronXgate, David K Bargainer/ENRON@enronXgate, Philip Crowley/ENRON@enronXgate, Dari Dornan/ET&S/Enron@ENRON, Staci Holtzman/ENRON@enronXgate, Lee Huber/ET&S/Enron@ENRON, Frazier King/ENRON@enronXgate, Dorothy McCoppin/ENRON@enronXgate, Maria Pavlou/ENRON@enronXgate, Tony Pryor/ET&S/Enron@ENRON, Colleen Raker/ENRON@enronXgate, Susan Scott/ENRON@enronXgate, Louis Soldano/ENRON@enronXgate, Jim Talcott/ENRON@enronXgate, Kim Wilkie/ENRON@enronXgate, Candace Kyle/ENRON@enronXgate, William E Brown/ENRON@enronXgate, Kathy Ringblom/ENRON@enronXgate, Drew Fossum/ET&S/Enron@ENRON, Shelley Corman/ENRON@enronXgate, Janet Butler/ENRON@enronXgate, John Ale/HOU/AZURIX@AZURIX, Kevin Altit/BRZ/AZURIX@Azurix, Emilio Battioli/BUE/AZURIX@AZURIX, Stephen Brooke/NA/AZURIX@AZURIX, Allan Conge/HOU/AZURIX@AZURIX, Tim Dorsey/HOU/AZURIX@AZURIX, Greer Mendelow/HOU/AZURIX@AZURIX, Norma Tidrow/HOU/AZURIX@AZURIX, Kristina Mordaunt/Enron Communications@Enron Communications, Kenton Erwin/Enron Communications@Enron Communications, Cynthia Harkness/Enron Communications@Enron Communications, Michelle Hicks/Enron Communications@Enron Communications, David Koogler/Enron Communications@Enron Communications, Steve McCarrel/Enron Communications@Enron Communications, Gil Melman/Enron Communications@Enron Communications, Eric Merten/Enron Communications@Enron Communications, Paul Puchot/Enron Communications@Enron Communications, Robbi Rossi/Enron Communications@Enron Communications, Marie Heard/Enron Communications@Enron Communications, Robin Hill/Enron Communications@Enron Communications, Vicki Sharp/HOU/EES@EES, Deborah Asmus/HOU/EES@EES, Marianne Castano/HOU/EES@EES, Deborah Culver/HOU/EES@EES, Edwin Essandoh/HOU/EES@EES, Richard Freed/HOU/EES@EES, Kelly Higgason/HOU/EES@EES, James E Keller/HOU/EES@EES, Michelle Maynard/HOU/EES@EES, Bonnie Nelson/HOU/EES@EES, Martin Penkwitz/HOU/EES@EES, Andrew Ralston/HOU/EES@EES, Bill Rapp/HOU/EES@EES, David Roland/HOU/EES@EES, Mike D Smith/HOU/EES@EES, Andrew Wu/HOU/EES@EES, Elisa Donovan/HOU/EES@EES, Karen A Cordova/HOU/EES@EES, Christina Finelli/HOU/EES@EES, Barbara Hankins/HOU/EES@EES, Jennifer Hillegonds/HOU/EES@EES, Allison McHenry/HOU/EES@EES, Susan Wheeler/HOU/EES@EES, Kim Collins/HOU/EES@EES, Chris Dalton/HOU/EES@EES, Marty Keyser/EFS/EES@EES, Laurel S Gleason/EFS/EES@EES, Joe Hrabik/EFS/EES@EES, Virginia Baumgardner/EFS/EES@EES, Beth Brandstetter/EFS/EES@EES, Beverly Sullivan/EFS/EES@EES, Mary Tullius/EFS/EES@EES, Sivert Fogerlie/Western Region/The Bentley Company@Exchange cc: Subject: RSVP Form Update (Distribution List 1) The problems with the Online RSVP Form should now be solved. We are sorry for any inconvenience that you may have experienced. Please give it another try at http://lawconference.corp.enron.com! Once you have submitted your RSVP Form, you should receive a confirmation e-mail. Please review your confirmation information and let me know if there are any changes. If you get an error message and do not receive a confirmation e-mail, please e-mail me or call me at (713) 853-9129. Hint: ? Use Internet Explorer as your browser. ? The SAP Company Code should have 4 digits (i.e. 0011). ? The SAP Cost Center should have 6 digits (i.e.100180). Remember, responses must be submitted no later than Friday, March 30, 2001. For anyone requesting CLE credit for a state other than Texas, please submit your RSVP Form by March 23, 2001. See you in San Antonio!
Marie and Sara, CSFB - Europe contact number for Robert Daborn. Sheila -----Original Message----- From: Hopley, Kimberly Sent: Wednesday, September 19, 2001 9:19 AM To: Glover, Sheila Subject: RE: ECT Invesmtents Inc SG, FYI - Robert can be contacted on +44 207 883 8359 (direct line) -----Original Message----- From: Glover, Sheila Sent: Wednesday, September 19, 2001 3:11 PM To: Shackleton, Sara; Heard, Marie Cc: Hopley, Kimberly; Brogan, Theresa T. Subject: FW: ECT Invesmtents Inc Sara and Marie, CSFB Europe requires information to open an account. We have an account with CSFB Corporation - NY. Would you please review their requirements? Do we have a problem with any of them? Please do not hesitate to call if questions. I will get Robert Daborn's telephone number. Thanks, Sheila -----Original Message----- From: Hopley, Kimberly Sent: Wednesday, September 19, 2001 6:04 AM To: Glover, Sheila Cc: Brogan, Theresa T. Subject: FW: ECT Invesmtents Inc SG, I called CSFB (Robert Daborn CSFB Compliance) yesterday because they issued yet another confirm in the name of ECT Investments PLC and not ECT Inv Inc. (We thought this matter had been resolved on their side but apparently not). Below I have attached an email that I received from Robert. The email contains a word document that requires an authorized Enron person's signature. Please let me know if I can do anything from this side to resolve this matter. Many thanks Kimberly -----Original Message----- From: Daborn, Robert [mailto:[email protected]] Sent: Tuesday, September 18, 2001 7:18 PM To: Hopley, Kimberly Subject: RE: ECT Invesmtents Inc Kimberly, Further to our conversation of earlier today it would appear that trades have been incorrectly allocated to an existing Enron account. This existing account has been opened with CSFB for several years and it may well be the case that it is the correct entity for certain transactions between our two corporations. However, I note that for transactions executed by yourself the correct booking entity should be ETC Investments Inc (ETC). Whilst ETC is an existing client of CSFB Corporation - NY it is not currently set up as a client of CSFB Equities / CSFB Europe Ltd. In order that your account can be set up and trades booked correctly I would appreciate it if you could provide CSFB with following information: 1) Confirmation that ETC is a wholly / majority owned subsidiary of Enron Corp. This can be evidenced by providing CSFB with a copy of Enron's Annual Report / Audited Financial Statement and Accounts or confirmed in writing by Enron on Enron letterhead 2) Confirmation of the registered address of ETC 3) Completed and signed authorisation document attached below. The information requested above is required to meet our UK Regulatory & Legal obligations and is not to my knowledge retained by our New York office. Please accept my apologies for any delay you've experienced in resolving this issue but by providing the information requested we should be in a position to make the requisite changes. Kind Regards Rob Daborn Legal & Compliance CREDIT \| FIRST SUISSE \| BOSTON Tel: 44(0) 207 883 8359 Fax: 44(0) 207 888 4883 E Mail: [email protected] -----Original Message----- From: Hopley, Kimberly [mailto:[email protected]] Sent: 18 September 2001 16:54 To: [email protected] Subject: ECT Invesmtents Inc Robert, As discussed per our telephone conversation earlier today : Please would you amend your records so that confirms issued to us are in the name of ECT Investments Inc and not Enron Investments PLC. Please confirm Thanks and regards, Kimberly Hopley Financial Trading Tel : +44(0)20 7783 2644 Fax : +44(0)20 7783 1913 Email : [email protected] ******************************************************************** 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. ******************************************************************** This message is for the named person's use only. It may contain confidential, proprietary or legally privileged information. No confidentiality or privilege is waived or lost by any mistransmission. If you receive this message in error, please immediately delete it and all copies of it from your system, destroy any hard copies of it and notify the sender. You must not, directly or indirectly, use, disclose, distribute, print, or copy any part of this message if you are not the intended recipient. CREDIT SUISSE GROUP and each of its subsidiaries each reserve the right to monitor all e-mail communications through its networks. Any views expressed in this message are those of the individual sender, except where the message states otherwise and the sender is authorised to state them to be the views of any such entity. Unless otherwise stated, any pricing information given in this message is indicative only, is subject to change and does not constitute an offer to deal at any price quoted. Any reference to the terms of executed transactions should be treated as preliminary only and subject to our formal written confirmation.
The desk took the adjustment and we were waiting on Lisa to verify the amounts on the A/R. We need to know the variance on the A/R by month to compare to my analysis and we can then change the prices in Sitara. The desk took a 5.7 million dollar expense PMA. Please let me know if and when you guys have the info and we can get it fixed in Sitara. Until this gets done, OA will have a variance on flash to actual because the desk already took the adjustment - we wanted to get it in for year end. PL -----Original Message----- From: James, Marlo C. Sent: Tuesday, January 08, 2002 4:02 PM To: Love, Phillip M. Subject: RE: NICOR How is this going? Jennifer Lee is OA is questioning the impact and is trying to understand everything so I sent her copies of our communications. Any further communications need to copy her on since Lisa V. is no longer here. Thanks, Marlo -----Original Message----- From: Love, Phillip M. Sent: Tuesday, November 27, 2001 4:09 PM To: James, Marlo C. Subject: RE: NICOR still working. I hope to have it completed before the week is out. As I am sure you are experiencing as well all the fire drills that are currently going on around here, I have been running since I got back from vacation. Believe me when I say this is a high priority for me as well because of all the potential P&L fallout for the traders who have been entering this information. PL -----Original Message----- From: James, Marlo C. Sent: Tuesday, November 27, 2001 8:56 AM To: Love, Phillip M. Cc: Saucier, Darla Subject: RE: NICOR How are things going with this. We need to give updates to our leads. -----Original Message----- From: Saucier, Darla Sent: Monday, November 12, 2001 12:58 PM To: James, Marlo C. Subject: FW: NICOR -----Original Message----- From: Love, Phillip M. Sent: Mon 11/12/2001 11:05 AM To: Saucier, Darla Cc: Subject: RE: NICOR can you get me copies of the August Invoice. Cora is very confident we have done everything correctly and I am still disagreeing with her(agreeing with you guys). This is pretty confusing and they did not keep spreadsheets or data about these, so I am having trouble tying all the volumes. Could you also get me copies of the pipeline statements for August. It looks like I am also missing one of the pipeline statements from July as well. I do not have the statement for the loan of 73,416. Thanks. I am sorry this is taking a while, this deal is very complex and traders/schedulers have not kept good records. PL -----Original Message----- From: Saucier, Darla Sent: Thursday, November 08, 2001 5:03 PM To: Love, Phillip M. Cc: James, Marlo C. Subject: RE: NICOR Here's what we have done for all the month's involved. I'll have to copy the Nicor invoices and get them to you. I will bring those down to you tomorrow morning. << File: NICOR-rec.xls >> -----Original Message----- From: Love, Phillip M. Sent: Thursday, November 08, 2001 4:41 PM To: James, Marlo C.; Saucier, Darla Subject: RE: NICOR can you get me the info on August for Nicor, according to Cora Pendergrass I need to see august numbers because some of July's invoice has august volumes. I would like a copy of all the stuff you guys gave me for July. Thanks. PL -----Original Message----- From: James, Marlo C. Sent: Thursday, November 08, 2001 4:36 PM To: Palmer, B. Scott Cc: Love, Phillip M.; Saucier, Darla; Valderrama, Lisa; Anastas, Sherry Subject: RE: NICOR Right now the parking and loaned deals that we did or do with NIPSCO are not being booked correctly in Unify. The volumes are coming over onto Supply Verifications or Sales Invoices depending what we are doing. These deals should be coming over to the service side so that I can be paying for these deals. However, I do not have anything on the service side. Therefore, I have a had to pay (paper) manuals to pay NIPSCO and Darla has outstanding A/R & A/P items since we do not invoice or pay NIPSCO for these deals. I have requested that Marlene forward the service contracts that are currently in the system to verify what we have setup so that you can make sure the deals are setup and we can get these corrected in Unify. I need to get my payables issues cleared up as well for the manuals I had to do to get them paid as interest was also charged. If you need to meet up with Darla and I to show you what we have, please let us know. The sooner we can get these resolved the better. Thanks, Marlo -----Original Message----- From: Palmer, B. Scott Sent: Thursday, November 08, 2001 4:20 PM To: Saucier, Darla Cc: James, Marlo C.; Love, Phillip M. Subject: RE: NICOR Phillip is working on NICOR. I will work on NIPSCO. Marlo's e-mail was the first I have heard of this and it does not really describe what the issue is. Can somebody clue me in with the details? Thanks. Scott -----Original Message----- From: Saucier, Darla Sent: Thursday, November 08, 2001 2:56 PM To: Palmer, B. Scott Subject: FW: NICOR -----Original Message----- From: Saucier, Darla Sent: Thursday, November 08, 2001 2:51 PM To: Love, Phillip M. Cc: McFatridge, Thomas; Valderrama, Lisa; PALMER, Scott L Subject: NICOR Hi Phillip, I saw your emails to Marlo James on the Nicor issue that said Scott Palmer would be taking over the Central desk. I just wanted to see if it would be possible to put this on the highest priority. Due to the current situation, we need to get this matter resolved ASAP to be able to clear off the balances left sitting on our A/R and A/P. Let me know if there's any additional information that you would require from me. Again, I stress the urgency of resolving this. Thanks for your help. Please update me on any progress as soon as possible. Thanks Darla Saucier
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
---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 05/02/2000 01:57 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
There isn't much to the memo, but this is it! It came out well after the end of the work day for most folks. I believe that Patti has sent you my travel plans for next week. Have a great weekend! ---------------------- Forwarded by Sally Beck/HOU/ECT on 01/12/2001 09:20 PM --------------------------- Enron North America Corp. From: Office of the Chairman @ ENRON 01/12/2001 07:31 PM Sent by: Office of the Chairman@ENRON 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
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.
Charles -- I fully agree that we must integrate the NERC plans and systems (or improvements to the NERC model) into our RTO model. I hope that is something you can coordinate with the project as this develops. Thx, Jim To: James D Steffes/HOU/EES@EES cc: Jeff Brown/HOU/EES@EES, Janine Migden/DUB/EES@EES, Joe Hartsoe/Corp/Enron, Ron McNamara/HOU/EES@EES, Steve Montovano/DUB/EES@EES, Dan Staines/HOU/ECT@ECT@EES, Robin Kittel/HOU/EES@EES, Sarah Novosel/Corp/Enron, Kerry Stroup/DUB/EES@EES, Christi L Nicolay/HOU/ECT@ECT@EES, Steve Walton/HOU/ECT@ECT@EES, Tom Delaney/Corp/Enron, Howard Fromer/HOU/EES@EES, Daniel Allegretti/HOU/EES@EES, Richard Shapiro/HOU/EES@EES, Steven J Kean/HOU/EES@EES Subject: Re: Transmission / Wholesale Market Regional Plans Jim a BIG external factor that is directed to the item (2) ISO Systems & Procedures: At the NERC Electronic Scheduling Task Force meeting today, there was considerable discussion on how this Task Force (which was formed before the OASIS ANOPR was posted) would coordinate on an industry-wide basis, a NERC response to the OASIS Phase II ANOPR. Here are some important points a FERC Staff member (Marv Rosenberg) made at the meeting. These should be kept in mind in developing the Enron proposal and the process of getting buy-in in each of the Regions/RTOs. - FERC prefers a single industry consensus filing. - The ANOPR is intended to tie RTO Order 2000 together with new OASIS II requirements - Does not preclude individual RTOs or entities from submitting proposals. However a diversity of filings will indicate non-consensus and FERC will make its own decisions which will likely not be industry friendly. FERC is asking the industry for communication and Business Practices standards for issuing in a NOPR. FERC is looking for: - more functionality and to be more user-friendly - electronic scheduling - electronic reservations - reduce duplication of information entry for customers - not intended to dictate the Control Area to Control Area communications I asked Marv to clarify this - He explained that although not required, FERC welcomes propsals to address the control area source/sink issues as part of an OASIS II solution (ie Entergy Source/Sink Order) OASIS II should: - continue use of Web browsers - use templates for file transfers (uploads and downloads) - all displays do not have to look the same - but encourages a common look and feel - within a RTO, business practicese may differ, but between RTOs the practices must be standardized We need to keep close to the NERC efforts since FERC has historically tended to favor NERC proposals because they tout an air of industry consensus. The clarificaton to the ANOPR given by Marv should make buy-in an important element of our proposal. If FERC adopts the NERC filing, we will likely be stuck with the exisiting contract path seams problems and LMP fragmentation in the East because NERC is not proposing any tariff changes. Also we will not get the control area source/sink issue resolved since it will be impossible to resolve at NERC in 7 months. Of course, another option would be to incorporate our efforts with this Task Force. James D Steffes@EES 08/02/2000 05:52 PM To: Jeff Brown/HOU/EES@EES, Janine Migden/DUB/EES@EES, Charles Yeung/HOU/ECT@ECT, Joe Hartsoe/Corp/Enron@ENRON, Ron McNamara/HOU/EES@EES, Steve Montovano/DUB/EES@EES, Dan Staines/HOU/ECT@ECT, Robin Kittel/HOU/EES@EES, Sarah Novosel/Corp/Enron@ENRON, Kerry Stroup/DUB/EES@EES, Christi L Nicolay/HOU/ECT@ECT, Steve Walton/HOU/ECT@ECT, Tom Delaney/Corp/Enron@ENRON, Howard Fromer/HOU/EES@EES, Daniel Allegretti/HOU/EES@EES cc: Richard Shapiro/HOU/EES@EES, Steven J Kean/HOU/EES@EES Subject: Transmission / Wholesale Market Regional Plans 1. I appreciate everyone who participated in the call today. I think that the discussion proved that we can find consensus on a reasonable approach for transmission pricing and energy markets. 2. To make more clear about the Regional Plans, I think that we need to consider the following. A. BACKGROUND Timelines of Current Process Current Players & Current Positions Allies Key Issues now facing the process B. MOVING FORWARD Top Issues upcoming External Factors (e.g., will Entergy join SPP) Resource Needs Relationship to Commercial Objectives / Business Plans C. OTHER ISSUES / CONCLUSION I hope this helps set an outline for the Regional Plans. The key idea is that I want to make sure everyone has a calendar of where we are going and what issues need to be addressed. Don't be shy about adding other topics and issues. We need to have this to communicate within our group and to the commercial people. I don't expect this to be easy, but I think that it will be helpful. 3. I think that we need to put more detail around the entire structure. This would entail developing four things (1) a tariff, (2) ISO Systems & Procedures, (3) Day Ahead PX Energy Market, (4) Transmission Flowgate PX Market. These are the four building blocks to a New Marketplace. My hope is for Enron to put these things out in a detailed framework using "off the shelf" material. I know that Tom Delaney has already started working on a tariff. I think we could adapt the Cal PX model into point 3. We could probably use the APX Flowgate System for point 4. On the ISO, maybe we could go to ESCA and have a Detailed Scope / Work Plan and fees on setting up an ISO (including costs of operation over time). It would make sense to me to do this very formally (including setting energy market zones and defining the commercially significant Flowgates). I would use the MISO as the market to focus on, but am willing to listen to other thoughts. Please let me know what everyone thinks. Jim
Dutch - there is a mess with Fimat and since you used to run John's book and may see something in this situation I do not, I wondered if you could give me any feedback in this before I send it to Deffner. Thanks, Sarah On Tuesday, Oct. 30 Warren Tashnek (Fimat Houston) and Steve Forman (Fimat NY) telephoned me to inform Enron that Fimat cut its trading lines from $20 million to $11 million for Enron. This cut is irrespective of the $20 million credit limit we have from Soc Gen for the margin line. (Soc Gen is the bank that owns Fimat brokerage.) Fimat made this decision based on the following events according to Steve: Thursday 10/25 ENE positions were expitted from ABN to Fimat. The positions came from existing positions at ABN, JP Morgan, SSB and Goldman Sachs. Generally brokers agree how to handle expitting of trades including the transfer of cash associated with the moving of the trades. Specifically a major issue evolved with ABN and Fimat. In this case, Fimat agreed with ABN to transfer the trades at the trade price and then rebook them at the trade price. There was a $10 million variation margin associated with this transfer of trades at the trade price which ABN agreed to send on Friday to Fimat. Since Fimat agreed to accept the trades at the trade price, Fimat was exposed in the event that ABN did not send the $10 million on Friday. If Fimat had agreed to transfer the trades at the settlement rate instead of the trade price then Fimat would not have been exposed for $10 million in variation margin on Thursday night. Friday, 10/26 On Friday, Fimat did not receive its $10 million from ABN as agreed. When Fimat called ABN, ABN told Fimat that ENE called ABN and instructed ABN to send the money directly to ENE. This left Fimat exposed for $10 million on behalf of Enron. On Friday morning, Fimat brokerage statements showed that ENE was owed $28 million by Fimat. Fimat sent $5.7 million to Soc Gen to pay down the Soc Gen margin line for Enron. This left $22 million available for ENE but Fimat wanted its $10 million. This led to confusion between Enron and Fimat. On Friday, there was a conversation between Fimat NY and Fimat Montreal. Fimat Montreal asked Fimat NY to take positions on behalf of ENE. The number of positions and the variation margin associated with these positions were undisclosed. Very late on Friday, HSBC tried to transfer Canadian positions to Fimat Canada without an account for Enron at Fimat Canada. Based in the bad press on Enron and the gossip in the financial community right now, Fimat NY told Fimat Montreal to refuse the transfer. Fimat wants to know why Enron is expitting trades from bigger brokerage houses that have increased risk allocations fro Enron. Fimat is uncomfortable with these events. Monday, 10/29 Fimat decides it wants an explanation from Enron. Fimat wants to reassess the brokerage statements and double check both the amount of money transferred to them and also the positions transferred. Fimat informed Enron that it would not move money based on brokerage statements alone. Fimat would not confirm to Enron what amounts of money should actually move until later in the day. This does not work for Enron as we must inform our Treasure by 8:00 am as to what cash transfers will occur. Under our current loan agreement with Soc Gen, Fimat informs Soc Gen by 12:00 noon if money should move so Fimat is changing its way of doing business with Enron based on its discomfort with ENE as a counter party. Tuesday, 10/30 100 positions were expitted to Fimat to offset the gas positions from ABN. Fimat proposed solutions $3 million T-bill posted to Fimat as collateral on ENE behalf Guarantee to Fimat with respect to trading from ENE (although ENE has already posted guarantee to Soc Gen for margin line) ENE to convince Soc Gen to guarantee to Fimat that Soc Gen will make payments on ENE's behalf My tkae on the situation: Fimat is upset based mainly on Enron's handling of expitted trades and bad press. I told Fimat that I believed the reason trades were expitted to Fimat was that ENE wanted to move its positions to brokers who were offering margin lines to ENE. I promised to look into our handling or mishandling of the situaiton but it seems that disorganization rather than ill intent was responsible for Fimat's inconveniences. I explained that Enron is prepared neither to mediate between Soc Gen and Fimat nor to cause Soc Gen to make payments to Fimat on our behalf. That issue should have been resolved when the amrgin line was set up and the payment mechanism has been working fine so far. As far as the confusion with ABN, we were not party to the discussions betweeen Fimat and ABN and can not make any comment to that. Finally we can not make margin payments to Fimat when we do not have proper notice time. I am sorry that there is bad press out there but I do not think we should give Fimat special permission to comb through our statements on an on going basis. This may have been necessary for them earlier this week but they need to get their act together and get the proper number to us early in the morning like all the other brokers. We need to determine how much we need Fimat right now. I am not inclined to entirely blow them off especially sinces I do not want them to tell other brokers that we are acting strangely and hurt our reputation further right now. At the same time, no one around Enron needs more work right now and we can not hold a high maintenance broker's hand hand every step of the way. Let's decide what to do and implement. Sarah
Dearest Anna, my most favorite sister of them all! I'm sorry I've been so bad about staying in touch while you've been stuck in those Rocky Mountain highs and lows of life. It sounds like things are going really well though (Rocky Mountain "highs") and that you've made it through most of the tumult of moving to a new place (Rocky Mountain "lows"). Amber tells me every time she talks to Marky, her man of the hour, he mentions how they've got to get together with you when she comes to town - which will be on next Friday, whoo hoo, party! I'm so mad that she gets to go and I don't, being that I am not, like her, in my eighth year of college and therefore do not enjoy such things as "Spring Break Mania" anymore. And Monica tells Marky who tells Amber who tells me that she'd love to hang out with you more often. It sounds like you guys had a ball at dinner, eh? So you've got options, girlfriend, which is worlds more than I can say for my life at the mo'. It pretty much consists of working, eating, and sleeping. I'm definitely looking into that SAD mental disorder thing, because I think it's got me in its clutches. But the recent abundance of sunshine has brought me enough renewed energy to start thinking about life after winter. We're doing lots of gardening, cooking, and decorating at the house - it's like having three Martha Stewarts all working together, only slightly less stylish , immensely less efficient, and drunk. Other than that, I've been trying to organize and simplify my life - taking care of mounds of paperwork, paying off debts, sorting out all those nagging little post-it notes that plague me constantly and demand my attention in vain. I'm actually starting to see the light at the end of the tunnel, like maybe I could buy a car or take a trip in a few months, or even buy a SECOND pair of shoes, but let's not get wild and crazy just yet. So I heard Dad and Laura are on their way to your neck of the woods with an automobile. That is, in the immortal words of the guys in "Dude, where's my car?", SWEET... DUDE! You are stoked. I bet that's a major load off - just make sure to keep your finances in check and not get in over your head. Take it from one who knows. I'm seriously looking into buying an old beater car; but then I start fantasizing about the Audi A4 Quattro, and suddenly $30,000 doesn't seem like a bad price for becoming ultimately cool. Lately I've been doing a lot of research into self-improvement measures. I just applied for post-baccalaureate status at U of O, so I can start taking economics and poli sci classes online. (I just got my new FREE computer from work!) I'm also studying for the GRE, and pretty soon here I'm going to get serious about graduate school. I think I've decided on international studies and/or economics, depending on how well I like the classes I take. I've found my dream program at Johns Hopkins University in Washington, D.C. It's a two-year Masters of International Studies program that begins in Washington and ends in.....are you sitting down?.....Bologna, Italy! Holy shit, does it get more perfect? Apparently it's like the premiere training ground for government officials, according to my friend Andy who laughed forcefully in my face when I told him I wanted to get into it. But I figure, I'm not getting any younger, and I don't want any regrets, so I'm goin' for it, dude. As for the love life, it's nonexistant, which is why I'm putting so much energy into the self-improvement area of my life. I figure as long as I'm having no fun with boys I might as well be beefing up my net value. By the time they come around again, the eligible pool will have shrunk to 1 in 100 million. Whatever. Anyway, now that I've written you the longest paragraph of my life, I must retreat to my work duties. Then it's off for a thrilling tour of Portland via Tri-Met. Molly's making me dinner tonight in exchange for a finished resume. It's only taken her 3 years to compile the information for it, so this one should be a doozy. Hey, if you can ever make it home for a weekend, you should come at the end of May - David Gray is coming to the Schnitzer, and it's going to be fabulous! I'll buy your concert ticket if you can convince Dad to get your plane ticket. Call me soon if you can, or I'll call this weekend. Take care and I miss you! Love, Kate Anna Symes <[email protected]> on 03/13/2001 02:55:09 PM To: "Kate Symes (E-mail)" <[email protected]> cc: Subject: Hey Lady! What do you think you're doing? I haven't talked to you in way too long. You have to update me on the sitch! I am going on a date with a guy I met while out with Monica last weekend. He was our waiter and he looks like Chandler Bing, only Monica kept calling him Chanandler Bong (did you see that episode when they had to name who the TV Guide came to?). She is so fun! I was so glad to get out of my apartment/away from my roommate. And now I have a date, so I'm excited. I'm still in contact with Mr. Colorblind, but we've had the friends talk so it's been really cool. In fact, he's nicer to me now than he was before! Anyway, that's crazy news about Mom's house! I guess no more crashing at her house when I go home. How are your roommates? Your seattle boyfriend? Your job? Write me with the goods, woman. I am getting a car in two weeks and I am more excited than any car-buyer has ever been. My job is great, although i think I'm getting scoliosis from bad posture in an uncomfortable chair all day. Nothing else is happening. Are you going out for St. Patrick's Day? I have to work, but there's a big outdoor thing downtown that I might go to afterwards. Okay, must go work. Call me though! I miss you! Love, Anna
EnronOnline Trade Counts and Volume for May 14, 2001 EXTERNAL INTERNAL TOTAL COUNTRY COMMODITY CATEGORY COUNT QTY COUNT QTY COUNT QTY UNIT OF MEASURE Austria Power Physical 13 10,300 - - 13 10,300 MWh Belgium Natural Gas Physical 10 1,065,000 - - 10 1,065,000 MMBtu Canada Natural Gas Financial 7 3,655,000 1 155,000 8 3,810,000 MMBtu Canada Natural Gas Physical 235 14,076,271 - - 235 14,076,271 MMBtu Canada Power Financial 18 20,642 - - 18 20,642 MWh (Canada) France Power Physical 1 4,741 - - 1 4,741 MWh Germany Power Physical 68 239,804 - - 68 239,804 MWh Netherlands Power Physical 1 600 - - 1 600 MWh Norway Power Financial 23 441,192 - - 23 441,192 MWh Singapore Crude Financial 1 50,000 1 50,000 2 100,000 Barrel Singapore Oil Products Financial 1 150,000 - - 1 150,000 Barrel Switzerland Power Physical 26 36,593 - - 26 36,593 MWh United Kingdom Crude Financial 3 350,000 2 50,000 5 400,000 Barrel United Kingdom LPG Financial 3 10,000 - - 3 10,000 mt United Kingdom Metals Financial 500 10,830 81 1,625 581 12,455 LME Registered mt Lot United Kingdom Natural Gas Physical NBP 135 19,881,050 2 95,000 137 19,976,050 MMBtu United Kingdom Oil Products Financial 1 22,350 - - 1 22,350 Barrel per month United Kingdom Oil Products Financial 3 15,000 - - 3 15,000 IPE mt United Kingdom Power Physical 13 846,720 - - 13 846,720 MWh United Kingdom Sea Freight Financial 1 15 1 15 2 30 Sea Freight Lots USA Coal Physical 1 4 - - 1 4 COAL-Tons/Barges/Mnth USA Crude Financial 162 7,225,000 97 3,915,000 259 11,140,000 Barrel USA Crude Financial Option 2 75,000 1 50,000 3 125,000 Barrel USA Crude Physical 8 1,143,000 - - 8 1,143,000 Barrel USA Emissions Physical 2 - 2 - Emission allowance USA Gas Pipeline Capacity Physical 2 20,000 - - 2 20,000 MMBtu USA LPG Financial 2 55,000 - - 2 55,000 Gallon USA LPG Physical 1 5,000 - - 1 5,000 Gallon USA Lumber Physical 4 14 - - 4 14 Thousand Board Feet USA Natural Gas Financial 874 337,955,873 389 126,439,578 1,263 464,395,451 MMBtu USA Natural Gas Financial Option 9 9,010,000 3 3,000,000 12 12,010,000 MMBtu USA Natural Gas Physical 1,808 16,749,218 41 781,899 1,849 17,531,117 MMBtu USA Oil Products Financial 38 854,524 3 30,715 41 885,239 Barrel USA Paper Physical 1 40 - - 1 40 Metric Tons (+/- 5%) USA Petchems Financial 1 30,000 - - 1 30,000 Gallon USA Power Financial 27 244,469 10 67,530 37 311,999 MWh USA Power Physical 427 4,371,728 154 2,483,741 581 6,855,468 MWh USA Rate and Currency Financial - - 3 5,900,000 3 5,900,000 EUR/1 USA Rate and Currency Financial - - 2 4,000,000 2 4,000,000 FX USD USA Rate and Currency Financial - - 3 1,090,000 3 1,090,000 GBP/1 USA Rate and Currency Financial - - 3 1,154,000 3 1,154,000 USD/1 USA Weather Financial 6 14 - - 6 14 Cooling Degree Day 4,438 797 5,235
---------------------- Forwarded by Mike Grigsby/HOU/ECT on 04/05/2001 10:05 PM --------------------------- "mike" <[email protected]>@sfgate.com> on 04/05/2001 10:12:00 PM Sent by: <[email protected]> To: "Mike" <[email protected]> cc: Subject: SF Gate: Text of Gov. Gray Davis' energy speech ---------------------------------------------------------------------- This article was sent to you by someone who found it on SF Gate. The original article can be found on SFGate.com here: http://www.sfgate.com/cgi-bin/article.cgi?file=/news/archive/2001/04/05/state2108EDT0315.DTL ---------------------------------------------------------------------- Thursday, April 5, 2001 (AP) Text of Gov. Gray Davis' energy speech The Associated Press , , -- (04-05) 18:08 PDT Here is the text of Gov. Gray Davis' televised speech on energy Thursday, as prepared for delivery: "Good evening. I'm speaking to you tonight from Sacramento on the most difficult issue facing California: our energy crisis. "Simply stated, we have two problems: supply is too low and costs are too high. Both result from the flawed deregulation scheme created in 1996. But no matter how we got into this mess, you hired me to solve problems. And that's what I'm doing. "The only long-term solution is to build more power plants. We must also cut back on consumption and stabilize the utilities. But prices won't fall and supply won't be truly reliable until we generate more power than we consume. "Yet in the 12 years before I took office, not a single major power plant was built in California. Not one. Since I became governor, we've licensed 12 major power plants. Ten more are in the pipeline. And we're doing this without weakening our commitment to clean air and clean water. "Deregulation required the utilities to sell off many of their power plants to independent generating companies. The generators are free to charge whatever they want because they're governed only by federal regulators who refuse to control wholesale energy prices. "This past winter, the prices charged by the generators shot through the roof, driving the utilities to the brink of bankruptcy. "In January, with the feds still refusing to do their job, California stepped in to purchase the power the utilities could no longer afford to buy. We didn't take over to save the utilities. We took over to keep the power on and the economy strong. That's not all: -- We also negotiated long-term contracts for electricity at vastly lower prices. -- I used my emergency powers to seize control of low-cost power contracts the utilities were about to forfeit to the generators. -- We began negotiations to buy the utilities' transmission system. -- We cut red tape and offered cash incentives to speed up construction of power plants. -- We're launching an $800 million conservation program. -- We're moving to establish a public power authority to build more power. If the private sector fails to build all the plants California needs, we'll build them ourselves. -- And because I share your concern that the generators are ripping us off, we're using every legal remedy to root out and punish illegal conduct. "We can't fix 12 years of inaction overnight. But we're making real progress. "Now, as you know, I have fought tooth and nail against raising rates. It's become increasingly clear, however, that with rising natural gas prices, the feds' failure to control costs, and the state's lack of supply, that some rate increases are needed to keep our lights on and our economy strong. "But I remain committed to protecting average Californians from massive rate hikes. So I'm urging the Public Utilities Commission to adopt a plan that will protect average consumers, reward those who conserve and motivate the biggest users to cut back. "Under my proposal, more than half of you won't pay a penny more. For the rest, the average increase will be 26 1/2 percent. For many of that group, rates will rise only about 10 percent. The heaviest users will see their rates rise 34 1/2 percent on average. That includes business paying their share. This is in addition to the 9 percent surcharge we've all been paying since last winter. "But all Californians can reduce their bills through conservation. "Here's the point: The more you use, the more you pay. The more you conserve, the more you save. Conservation is our best short-term weapon against blackouts and price-gouging. By flexing your power, you'll help secure our energy future. "Unlike the PUC, my plan includes funds to restore the utilities to financial stability -- if they agree to three main conditions: "They must provide low-cost regulated power to the state for 10 years. Agree to sell us their transmission system. And dismiss their lawsuits seeking to double your electricity rates. "My proposal raises rates fairly, assures us of long-term power, stabilizes the utilities and promotes conservation. "Our emphasis on conservation is critical. In order to make it through the summer, we must cut demand by at least 10 percent. "Already we've launched programs to cut back commercial lighting, and reduce consumption in office buildings, schools and government facilities. "Friends, we have a power shortage but we are far from powerless. We are 34 million strong and if each of us does our part, we can minimize disruptions and get through the summer. We are Californians. We've withstood earthquakes, floods, fires, and droughts. "Yes, this mess is man-made, but with your help and God's blessing, we'll get through this as well. "Thank you and good night." ---------------------------------------------------------------------- Copyright 2001 AP
Attached is Entergy's response to Clarksdales comments. ---------------------- Forwarded by Reagan Rorschach/NA/Enron on 02/26/2001 06:51 PM --------------------------- "Marvin L. Carraway" <[email protected]> on 02/26/2001 06:39:42 PM To: [email protected] cc: Subject: [Fwd: Revised Draft of Entergy/MDEA Interconnection Agreement] Return-Path: [email protected] Received: from coldscn02.morganlewis.com ([12.104.97.122] verified) by watervalley.net (Stalker SMTP Server 1.8b8) with SMTP id S.0000039933 for <[email protected]>; Mon, 26 Feb 2001 09:16:47 -0600 Received: from 131.254.253.172 by coldscn02.morganlewis.com with ESMTP ( WorldSecure Server SMTP Relay(WSS) v4.5); Mon, 26 Feb 2001 10:18:18 -0500 X-Server-Uuid: 76d36b76-3d48-11d4-a2af-00508bc764a5 Subject: RE: Revised Draft of Entergy/MDEA Interconnection Agreement To: "Blair, Bonnie" <[email protected]> cc: "Blair, Bonnie" <[email protected]>, [email protected], [email protected], [email protected], [email protected], [email protected], [email protected] X-Mailer: Lotus Notes Release 5.0.3 March 21, 2000 Message-ID: <[email protected]> From: [email protected] Date: Mon, 26 Feb 2001 10:16:38 -0500 X-MIMETrack: Serialize by Router on COLDGTW01/SVR/MLBLaw(Release 5.0.3 \|March 21, 2000) at 02/26/2001 10:16:40 AM MIME-Version: 1.0 X-WSS-ID: 1684AC30338188-01-01 Content-Type: multipart/mixed; boundary="0__=852569FF0053B7468f9e8a93df938690918c852569FF0053B746" Content-Disposition: inline X-Mozilla-Status2: 00000000 Sorry about that; some got the attachment but others didn't. Here it is again. If this one fails too, please let me know and I'll have a copy messengered over. Thanks. Mike Griffen Morgan Lewis (202) 467-7257 (See attached file: MDEA_IOA_2-25-01.doc) "Blair, Bonnie" <bblair@thompsonc To: "'[email protected]'" oburn.com> <[email protected]>, "Blair, Bonnie" <[email protected]>, 02/26/01 10:08 AM [email protected], [email protected], [email protected] cc: [email protected], [email protected], [email protected] Subject: RE: Revised Draft of Entergy/MDEA Interconnection Agreement Hi, Mike - - I received your e-mail, but the revised draft agreement was not attached, just two versions of your cover note. Please resend. Thanks. Bonnie -----Original Message----- From: [email protected] [mailto:[email protected]] Sent: Sunday, February 25, 2001 9:00 PM To: [email protected]; [email protected]; [email protected]; [email protected] Cc: [email protected]; [email protected]; [email protected] Subject: Revised Draft of Entergy/MDEA Interconnection Agreement ******************************************************************** Please note that the Morgan Lewis e-mail domain has been changed to "morganlewis.com". In most cases, the person's e-mail address is their first initial and their full last name plus @morganlewis.com. To locate the e-mail address of a specific individual at Morgan Lewis, please refer to the firm's web site, now located at http://www.morganlewis.com, or send an e-mail to [email protected]. Please update your address book and bookmarks accordingly. If you are experiencing technical problems, please call our toll free hot line at 877-963-4652. The information contained in this e-mail message is intended only for the personal and confidential use of the recipient(s) named above. This message may be an attorney-client communication and as such is privileged and confidential. If the reader of this message is not the intended recipient or an agent responsible for delivering it to the intended recipient, you are hereby notified that you have received this document in error and that any review, dissemination, distribution, or copying of this message is strictly prohibited. If you have received this communication in error, please notify us immediately by e-mail, and delete the original message. ******************************************************************coldsc n01 ****************************************************************** Please note that the Morgan Lewis e-mail domain has been changed to "morganlewis.com". In most cases, the person's e-mail address is their first initial and their full last name plus @morganlewis.com. To locate the e-mail address of a specific individual at Morgan Lewis, please refer to the firm's web site, now located at http://www.morganlewis.com, or send an e-mail to [email protected]. Please update your address book and bookmarks accordingly. If you are experiencing technical problems, please call our toll free hot line at 877-963-4652. The information contained in this e-mail message is intended only for the personal and confidential use of the recipient(s) named above. This message may be an attorney-client communication and as such is privileged and confidential. If the reader of this message is not the intended recipient or an agent responsible for delivering it to the intended recipient, you are hereby notified that you have received this document in error and that any review, dissemination, distribution, or copying of this message is strictly prohibited. If you have received this communication in error, please notify us immediately by e-mail, and delete the original message. ********************************************************************coldscn0 2 - MDEA_IOA_2-25-01.doc
Daren: Thanks again for your prompt attention to this matter, I appreciate it. There is a slight problem however, I couldn't find the deals for July and November 1999 in Path Manager. I looked in Sitara and I see where you put the deal 269123 in for May 1999, but it is also in for July and November of 2000. Did you mean to put the deal in for July and November of 1999 and inadvertently put it in for July and November 2000? If so would you put it in for July and November 1999 and send me an e-mail when you are done. Thanks, Fred Daren J Farmer 06/06/2000 10:32 AM To: Fred Boas/HOU/ECT@ECT cc: Subject: Re: Duke Energy - # 5192 - 1999 Issues Apply deal 269123 to contract 012-27049-201. D Fred Boas 06/05/2000 03:50 PM To: Stephanie Gomes/HOU/ECT@ECT cc: Daren J Farmer/HOU/ECT@ECT, Aimee Lannou/HOU/ECT@ECT, Robert E Lloyd/HOU/ECT@ECT, Howard B Camp/HOU/ECT@ECT Subject: Duke Energy - # 5192 - 1999 Issues Stephanie: Meter 6757 is done, redraft your invoice for both months and let me know if this meter is still an issue. Meter 5192. I never heard back from Aimee on which Transport contract to attach the deal 269123 to so for the months in question the gas is still allocated to the Strangers Gas contract. Aimee is out on vacation until mid-June so I put in a call to Daren Farmer to find out which Transport contract I should attach the deal 269123 to. When I find out which transport contract to use I will set up the accounting arrangements and then get Robert Lloyd to put the contract in POPS and reallocate. Fred From: Stephanie Gomes 06/01/2000 08:55 AM To: Fred Boas/HOU/ECT@ECT cc: Subject: Duke Energy - meter # 6757 , # 5192 - issue for 1999 Hey Fred, I have the deal numbers for you for Duke Energy. Could you please let me know when you have allocated the gas to these meters. I am also forwarding other emails about these two deals for your records. If you have any questions, please give me a call. Thanks, Stephanie meter # 0986757 deal # 266962 4/1/99 - 4/30/99 and 5/1/99 - 5/31/99 meter # 0985192 deal # 269123 5/1/99 - 5/31/99 and 7/1/99 - 7/31/99 ---------------------- Forwarded by Stephanie Gomes/HOU/ECT on 06/01/2000 08:45 AM --------------------------- Aimee Lannou 05/11/2000 03:45 PM To: Fred Boas/HOU/ECT@ECT cc: Howard B Camp/HOU/ECT@ECT, Stephanie Gomes/HOU/ECT@ECT Subject: Re: Crow O'Connor Meter 6757 Fred & Stephanie- Meter 6757 has been reallocated. Stephanie - What price does Duke show we owe them for the months in question? Fred Boas 05/11/2000 03:18 PM To: Aimee Lannou/HOU/ECT@ECT cc: Robert E Lloyd/HOU/ECT@ECT, Howard B Camp/HOU/ECT@ECT, Stephanie Gomes/HOU/ECT@ECT Subject: Crow O'Connor Meter 6757 Aimee: Please put the ENA 201 contract at this meter for April and May of 1999 with the Track ID 117848 and reallocate the meter for both months. After this is done please let Stephanie and I know so that she can redraft her invoice the next day after POPS bridges to MOPS. Also with respect to the second issue where Daren is asking for the price, Stephanie may be able to help you with this because she has a copy of Duke's invoice. Stephanie: The Crow O'Conner meter is essentially fixed. When Aimee reallocates you will have to wait until the next day to redraft your invoice. When Aimee gets back with us please redraft the invoice the next day and let me know if this issue is resolved. Fred Daren J Farmer 05/11/2000 02:14 PM To: Aimee Lannou/HOU/ECT@ECT cc: Fred Boas/HOU/ECT@ECT, Pat Clynes/Corp/Enron@ENRON Subject: Re: Sarco Lateral and Crow O'Connor Meters I have created deal 266962 for the volumes at mtr 6757. What price is Duke reporting for the mtr 5192 volumes? The only activity we've had out there is payback with Koch. D Aimee Lannou 05/09/2000 03:30 PM To: Daren J Farmer/HOU/ECT@ECT cc: Fred Boas/HOU/ECT@ECT, Pat Clynes/Corp/Enron@ENRON Subject: Sarco Lateral and Crow O'Connor Meters Daren - Have you had a chance to look at this? - Aimee ---------------------- Forwarded by Aimee Lannou/HOU/ECT on 05/09/2000 03:26 PM --------------------------- Aimee Lannou 05/04/2000 03:26 PM To: Daren J Farmer/HOU/ECT@ECT cc: Fred Boas/HOU/ECT@ECT Subject: Sarco Lateral and Crow O'Connor Meters Daren - Can you set up new deals for meter 6757 and 5192? Meter 6757 Crow O'Connor - Counterparty Duke Energy & Trading Month Contract Deal # June 99 ENA 201 87426 July 99 HPL 215 95072 Aug 99 HPL 215 102775 Sept 99 HPL 215 110502 Meter 5192 Sarco Lateral No deal has ever been set up for meter 5192 for Duke Energy & Trading. There is flow for May, July and Nov. 99. Will you please let me know if you set up new deals for these meters? Thanks. Aimee ---------------------- Forwarded by Aimee Lannou/HOU/ECT on 05/04/2000 03:17 PM --------------------------- Fred Boas 05/04/2000 12:08 PM To: Aimee Lannou/HOU/ECT@ECT cc: Robert E Lloyd/HOU/ECT@ECT, Howard B Camp/HOU/ECT@ECT Subject: Sarco Lateral and Crow O'Connor Meters Aimee: The Crow O'Connor, meter 6757 has its gas allocated to Strangers Gas for April and May 1999 and Duke has been calling Settlements asking for their money. I will need to set up accounting arrangements for this meter for these months so please provide me the correct transportation contract and valid deal # for this transaction. In addition, the Sarco Lateral, meter 5192 has its gas allocated to Strangers Gas for May and July 1999 and Duke has been calling Settlements asking for their money. I will need to set up accounting arrangements for this meter for these months so please provide me the correct transportation contract and valid deal # for this transaction. I would like to get this done ASAP since the customer is calling Settlements and we start close next week. Thanks, Fred
The Oxford Princeton Programme E-Newsletter ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ The World's Leading Provider of Full Spectrum Training Solutions for the Energy Industry and Beyond. http://www.oxfordprinceton.com ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ In this edition: - Brand new PrincetonLive.com courses - A history of The Oxford Princeton Programme - Free white papers: * Forward Curves: Managing Price Risk * Protecting Your Earnings: Managing the FASB133 Challenge - The Oxford Princeton Programme to present e-learning workshop at the 2001 APPEC conference - The Oxford Princeton Programme roadshow - The Oxford Princeton Programme course schedules ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ PrincetonLive.com continues to roll out new web-based training courses... Forwards and Swaps from the Flight Deck Available May 14, 2001 You are the new Risk Manager for Lucky Seven Airlines, and today,s your first day. 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I think everything is OK now. I set up deals 260724 (k#B00693026471), 260689 (k# F01978) and deal 260712 (k#I00454). I changed the end date for deal 235701 (also k#B00693026471 - unpathed) to 4/30/00 and it still shows up in Unify for May. Beavy, make sure you use the B*** k# with an MDQ of 9005 when you path May. ---------------------- Forwarded by Chris Germany/HOU/ECT on 05/04/2000 01:01 PM --------------------------- Richard Pinion 05/04/2000 08:12 AM To: Chris Germany/HOU/ECT@ECT, Marlene Hilliard/HOU/ECT@ect cc: Beverly Beaty/HOU/ECT@ECT, Diane E Niestrath/HOU/ECT@ECT, Sylvia A Campos/HOU/ECT@ECT Subject: Re: National Fuel Says They Are Pathed Model Type I was under the impression that the new services were set up by Sylvia. She had discussed this several times with me in the last two weeks. You should only have to set up new deal tickets with the new service effective 5-1-00 and end the old tickets 4-30-00. The new service types should be as the below example - The new service type is no longer "Transportation", it is now "Transportation-Pathed" for K# B00693026471. RP Chris Germany 05/04/2000 07:36 AM To: Marlene Hilliard/HOU/ECT@ect, Richard Pinion/HOU/ECT@ECT cc: Beverly Beaty/HOU/ECT@ECT Subject: Re: National Fuel Says They Are Pathed Model Type What do I need to do? Should I end the exitsting contracts effective 4/30/00 and create new ones effective 5/1/00? Does Marlene need to create a new type of FT rate service to make these contracts appear different ( maybe that has already been done)? Marlene Hilliard 05/03/2000 05:01 PM To: Chris Germany/HOU/ECT@ECT, Richard Pinion/HOU/ECT@ECT cc: Subject: Re: National Fuel Says They Are Pathed Model Type I was not aware ot the Sonat Style. In that case, an IT request is not necessary. Marlene Hilliard ---------------------- Forwarded by Marlene Hilliard/HOU/ECT on 05/03/2000 04:58 PM --------------------------- Richard Pinion 05/03/2000 04:48 PM To: Chris Germany/HOU/ECT@ECT cc: Beverly Beaty/HOU/ECT@ECT, Marlene Hilliard/HOU/ECT@ect, Diane E Niestrath/HOU/ECT@ECT, Donna Greif/HOU/ECT@ECT Subject: Re: National Fuel Says They Are Pathed Model Type I have been speaking with Sylvia Campos on this. Originally they wanted to do this via IT request which I thought would cause some problems. Since then they changed their minds and decided to so it Sonat style and merely create a different service type (so as not to change historically). To my recollection that is the way that they were going and supposedly it was cleared with Connie Sutton. So this reversal does somewhat surprise me. RP Chris Germany 05/03/2000 02:36 PM To: Richard Pinion/HOU/ECT@ECT, Marlene Hilliard/HOU/ECT@ect cc: Beverly Beaty/HOU/ECT@ECT Subject: Re: National Fuel Says They Are Pathed Model Type Richard, according to Marlene, she needs to put in an IT request to change the National Fuel contracts from non-pathed to pathed. Does this sound correct to you? Please let me know. chris ---------------------- Forwarded by Chris Germany/HOU/ECT on 05/03/2000 02:28 PM --------------------------- From: Beverly Beaty 05/03/2000 02:14 PM To: Chris Germany/HOU/ECT@ECT cc: Subject: Re: National Fuel Says They Are Pathed Model Type Per our conversation.... Bev ---------------------- Forwarded by Beverly Beaty/HOU/ECT on 05/03/2000 02:14 PM --------------------------- Enron Capital & Trade Resources Corp. From: Donna Greif 04/21/2000 12:44 PM To: Richard Pinion/HOU/ECT@ECT cc: Beverly Beaty/HOU/ECT@ECT, Diane E Niestrath/HOU/ECT@ECT Subject: Re: National Fuel Says They Are Pathed Model Type Richard, I trust you're on top of this.....let me know if you'd like my help! Thanks! dg From: Diane E Niestrath on 04/19/2000 06:23 PM To: Donna Greif/HOU/ECT@ECT, Richard Pinion/HOU/ECT@ECT cc: Dave Nommensen/HOU/ECT@ECT, Beverly Beaty/HOU/ECT@ECT Subject: National Fuel Says They Are Pathed Model Type DG & RP, National Fuel says they are 100% using the GISB pathed model type. Our Unify noms are non-pathed. 1) Can you look at the National Fuel invoice and verify that the accounting area will still work effortlessly if we change Unify to pathed. 2) If we elect to change Unify's model type to pathed, let's do it just like we did Southern Natural. And, I would like this done for May 1 noms in production and have the Scheduler (Beverly?) path in this new model type manner. We are suppose to be getting scheduled quantities in production starting tomorrow, unless ECOM prevents it, so you'll be able to see what the pipe expects in the pathed model type. 3) If we elect to NOT change Unify's model type to pathed, I guess we can't ever edi this pipe unless I can figure out some clever way to join up the noms. Beverly, Do you think it would be a problem to start entering the upstream k's and downstream k's when you path in Unify. The pipe told me this is mandatory data unless the nom is involved in the Appalachian area. If it is a problem, don't do, I don't want to slow you down since you have to enter the data twice today. If and when we do edi, we'll need the up/down k's entered at that time. Thanks, Diane x3-9931 ============================================================================== ======================= Email excerpt between Diane (in magenta) and Chris Zachary in IT Dptmt at National Fuel Gas Supply Corp (in blue) ===> >> 3) Please confirm that your model type is always "P" pathed from noms all the >> way down to invoices. Our model type is always "P" for pathed.
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 Error: dbCaps97Data: Cannot perform this operation on a closed database !!!Insufficient memory for this operation. Alias: dbCaps97Data !!!Insufficient memory for this operation. Alias: dbCaps97Data Error: dbCaps97Data: Cannot perform this operation on a closed database !!!Insufficient memory for this operation. Alias: dbCaps97Data !!!Insufficient memory for this operation. Alias: dbCaps97Data Error: dbCaps97Data: Cannot perform this operation on a closed database !!!Insufficient memory for this operation. Alias: dbCaps97Data !!!Insufficient memory for this operation. Alias: dbCaps97Data Error: dbCaps97Data: Cannot perform this operation on a closed database !!!Insufficient memory for this operation. Alias: dbCaps97Data !!!Insufficient memory for this operation. 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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]
Dave, See below broad summary from certain key Eurpoean jurisdictions. The "concern" countries are Belgium and the Netherlands. J ---------------------- Forwarded by Justin Boyd/LON/ECT on 26/05/2000 12:58 --------------------------- Enron Capital & Trade Resources Corp. From: "West, Nick" <[email protected]> 26/05/2000 12:58 To: "'[email protected]'" <[email protected]> cc: "Didizian, Marly" <[email protected]> Subject: Enron online/sports.com competition Dear Justin You asked for a summary of the UK and foreign advice which we have collated on the lawfulness of the Enron online/sports.com "spread betting" competition. I have set out a short note below. Marly and I would be happy to discuss it with you further by telephone at any time this afternoon. I have assumed that the competition is based predominantly on chance. I have also assumed that there is no element of indirect consideration required to enter the competition. We may need to discuss these points in more detail. UK: There appears to be no problem. The competition cannot be a lottery as the contestants do not pay to enter. The competition may fall within the definition of gaming, but only unlawful gaming is prohibited. The competition format which you have described is unlikely be an unlawful game. Germany: There appears to be no problem as far as gaming laws on lotteries and the German Trading Regulations are concerned, because the participants will not pay to enter the competition. However, it is possible that there may a breach of unfair competition laws. One of Enron's customers without online trading capacity or one of Enron's competitors could argue that the competition is anti-competitive i.e. Enron is trying to influence the decision of its online trading customers as to whether they should trade with Enron at all. We should consider this risk in greater detail. If the game was held to be anti-competitive, Enron would have to cease to offer it to German customers. Netherlands: Under the Dutch Games of Chance Act (GCA), games of chance are generally prohibited, even if participation is free. However, we have been advised that, to date, it is not clear whether the GCA even applies to internet games. We have also been advised that, in any event, the Dutch authorities are unlikely to consider it a high priority to try to enforce the GCA against a game offered for a limited time with only a moderate prize. Finally, we have been advised that if the game complies with the law in the country of its origin, this would decrease the likelihood of any Dutch action. Thus the key decision in the Netherlands is whether the commercial benefits of the competition outweighs the risk of a fine for contravention of the GCA - maximum NLG 25,000 (approx 10,000 USD). The GCA also only applies to games of chance. The provisions of the act could be avoided if a greater degree of skill was introduced in to the competition. Italy: You may recall that under Italian law, it appears that Enron will need to get the approval of the Italian Ministry of Finance to offer the game to Italian customers as it falls within the definition of an "advertising contest". Having discussed this matter with our Italian colleagues, it seems that Enron will be unable to avoid this requirement unless it does not offer prizes. Authorisation is likely to take a minimum of 30 days - there is no fast track process. Furthermore, since the website will be co-branded Enron online/sports.com, we have been advised that both parties would need to seek authorisation. Failure to obtain authorisation may result in a fine of up to 15m Lire (approx 7,500 USD) and continuing an unauthorised game in contravention of an order of the Ministry of Finance may result in a fine of up to 100m Lire (approx 50,000 USD). We have also been advised that the Italian Ministry of Finance does not undertake regular or thorough searches of the internet to identify potentially unlawful advertising contests. With this is mind, Enron may consider that the commercial benefits of running the competition in Italy outweighs the risk of being fined. We may need to consider this issue in more detail. Belgium: The advice we received from our Belgian colleague is inconclusive. The game does not fall foul of the new Law on Games of Chance as no entry fee is charged. However, we have been advised that there is a small risk that the game may be prohibited under the Law on Lotteries of 1851 since it is a game of chance. This risk can be alleviated by limiting the access to the game to defined group of users - as is the case here - and by increasing the level of skill involved. We may need to consider this risk in more detail since civil and criminal sanctions may be imposed on the organisers of a non-authorised lottery - imprisonment for up to 3 months and a fine of up to BEF 600,000 (approx 14,000 USD) for the organiser of the competition (Enron) as well as a fine for the distributor (sports.com) of up to BEF 200,000 (approx 4,500 USD) Switzerland: There appears to be no problem under Swiss law as the contestants do not need to pay to participate. ____________________________________________________________ This message is confidential. It may also be privileged or otherwise protected by work product immunity or other legal rules. If you have received it by mistake please let us know by reply and then delete it from your system; you should not copy the message or disclose its contents to anyone. ____________________________________________________________
UC/CSU (31 campuses in CA): Savings communicated to UC/CSU, April 1999 - March 2000: UC - $1.72 CSU - $3.17 I'm waiting for a draft release back from them. Tricon Global (approx 1400 restaurants in CA): Joe Main, energy manager from Tricon will call tomorrow with the name and phone number of the lobbiest they have hired to attend commission meeting. He is working with their PR vp to determine how far they can go publically. In case you missed: DISTRIBUTION: Business Editors/Energy Writers LENGTH: 821 words HEADLINE: SDG&E Seeks $16 Million for Energy-Efficiency Assistance for Customers DATELINE: SAN DIEGO, July 24, 2000 BODY: To provide its customers with additional assistance this summer and next, San Diego Gas & Electric (SDG&E) has requested from the California Public Utilities Commission (CPUC) $16 million over the next two years to increase funding for energy-efficiency programs. "Our customers need assistance today in lowering their energy costs and today's proposal will bring an additional $16 million funding to encourage energy conservation in our region," said Edwin A. Guiles, president of SDG&E. "This money can be used to help replace old, inefficient appliances, such as air conditioners and refrigerators, which will result in reduced electric bills and less strain on our state's electric-supply system." Of the $16 million, SDG&E would allocate an additional $4.3 million exclusively for low-income energy-efficiency assistance programs over the next two years. Under the proposal filed Friday, the low-income assistance funds will be used to expand existing programs, such as refrigerator and evaporative cooler replacements, while introducing new programs, including room air-conditioner replacements and evaporative cooler maintenance and repair. The program also includes incentives for landlords to replace refrigerators and air conditioners in rental units. The rest of the money would go into other energy-efficiency programs to provide incentives for removal and recycling of operating second refrigerators; refrigerator and room air-conditioner replacement; replacement of inefficient pool pumps; and increased incentives for a variety of programs to benefit small businesses. Funds for these additional incentives come from 1999 programs that did not draw as much customer participation as expected. For instance, large customers requested less than half the amount budgeted for a program designed to provide energy-efficiency incentives to them. Details on the programs are still being developed, but they should be in place in early September. The CPUC is expected to act on SDG&E's filing in late August. In California's newly created competitive energy marketplace, SDG&E is a delivery-service provider. For those customers who have not chosen another energy service provider, SDG&E buys electricity from the California Power Exchange (Cal-PX) and passes that cost directly onto its customers, with no mark-up. The price of power is now a function of supply and demand in the open market. Over the last several weeks, SDG&E customers have seen their electric bills rise sharply due to the significant increase in commodity costs as a result of power demand in California and surrounding states. Friday's proposal marks the latest in a series of actions SDG&E has taken recently to help customers grapple with high electric prices. On July 20, SDG&E and the Cal-PX proposed a new market-based power bidding solution to the CPUC that would allow SDG&E to procure power for customers with less price volatility over the next five to nine months. On July 14, SDG&E filed a request with the CPUC to accelerate the return of $100 million in customer money from a CPUC-controlled account. The CPUC's approval of SDG&E's request would release of money acquired from power-generating benefits of San Onofre Nuclear Generating Station and other assets would decrease the August and September residential electric bills by $34, or $17 a month. That proposal, combined with the deregulation-dividend checks most SDG&E customers will receive next month, will result in a total of about $500 million benefit to them in August and September -- nearly$300 for the typical residential customer -- helping to ease cash-flow problems from higher electricity prices. The company is actively promoting a level-pay program to all customers, which enables them to even out their bill payments over the course of the year, so they can manage better against their monthly household budget. Those customers participating in the plan will see bills this summer that are comparable to last summer's bills. SDG&E also has increased communications to both residential and business customers regarding the changes in the energy marketplace, available energy-efficiency funding and conservation tips for reducing electric bills. Information about these programs is available by calling 1-800-411-SDGE. San Diego Gas & Electric is a public utility that provides service to 3 million consumers through 1.2 million electric meters and 740,000 natural gas meters in San Diego and southern Orange counties. SDG&E is a subsidiary of Sempra Energy (NYSE:SRE), a Fortune 500 energy services holding company based in San Diego, with 12,000 employees, revenues of nearly $5.5 billion and more than 9 million customers in the United States, Europe, Canada, Mexico and South America. CONTACT: San Diego Gas & Electric Ed Van Herik, 877/866-2066 URL: http://www.businesswire.com LANGUAGE: ENGLISH LOAD-DATE: July 25, 2000
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Margaret, Thanks Vince Margaret Carson@ENRON 04/19/2000 08:16 AM To: Doug Leach/HOU/ECT@ECT, Bruce N Stram/HOU/EES@EES, Vince J Kaminski/HOU/ECT@ECT cc: Subject: PRESENTATION ON CURRENT OIL AND GAS MARKETS Good stuff here..Margaret ---------------------- Forwarded by Margaret Carson/Corp/Enron on 04/19/2000 08:15 AM --------------------------- Joe Hillings 04/19/2000 03:29 AM To: Margaret Carson/Corp/Enron@ENRON cc: Subject: POWER POINT PRESENTATION ON CURRENT OIL AND GAS MARKETS ---------------------- Forwarded by Joe Hillings/Corp/Enron on 04/19/2000 03:34 AM --------------------------- [email protected] on 04/18/2000 07:18:26 PM 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], [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], [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], [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], [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], [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] cc: Subject: POWER POINT PRESENTATION ON CURRENT OIL AND GAS MARKETS Dear Friends of the Institute for Energy Economics and Policy The attached power point presentation "Oil and Gas Markets: Myth and Reality" was given today to a major luncheon (April 18th) meeting of the American Association for Petroleum Geology Annual Conference in New Orleans. The presentation looks at current oil and gas markets during the last year and the next twelve months. IEEP makes occasional papers, research, and analysis available to the friends and supporters. This work asks the question of whether current prices are sustainable and examines the impact of weather and non market factors on the market. If you would like to know more about our efforts to develop EWxAS, our analytical and risk managment product, please contact us. I thought you might find the attached presentation interesting and perhaqps useful. Regards Dennis O'Brien Director, Institute for Energy Economics and Policy Sarkeys Energy Center University of Oklahoma - dob=presentation.ppt
Dear John: So sorry for the delay. I hope it hasn't caused too much inconvenience. I would have called to apologize in person but believe it or not I don't have your phone number! Here are my comments to the draft documents you sent: Part 1 (b) In our other derivatives trading, the cross default test applies to Enron Corp. with a Threshold of US$100,000,000. To accomplish this in the schedule, Threshold Amount for the Enron party would apply to our Credit Support Provider if there is going to be an Enron Corp. guaranty and the dollar figure adjusted accordingly. Part 1 (d) Has Baker & McKenzie recommended this? We rely on local counsel advice for this provision but our preference is that the termination in a bankruptcy context not be automatic unless it needs to be. The risk in the automatic situation is that the market moves significantly before we are even aware of the situation, i.e. the outstanding transactions terminate automatically, leaving us with an open, unhedged position which we are not able to protect since we are not aware of it. In the U.S. the bankruptcy code allows us to terminate after the filing of a bankruptcy according to the terms of the agreement so we know exactly the time to rehedge. Part 1 (e) We usually choose Loss here as the method which gives the non-defaulting party the most flexibility. Market Quotation is often suggested because of its apparent objective nature. However, in many of the markets where we operate, quotations will not be available, where they are available they may well not be meaningful, and the Loss method gives flexibility (while still requiring commercial reasonableness). Part 1 (h)(ix) This Additional Event of Default only applies when there is no collateral annex. When we have the ability to ask for (or be asked for) collateral in the case of a downgrading, we build that event into the Paragraph 13 to trigger a reduction of the threshold to zero which requires the posting of collateral to cover any open position. If the party fails, it then becomes a default allowing termination. Part 1 (h)(x) Wouldn't the cross default be triggered before this could happen? Part 2 Have our internal Tax people approved this? Part 3 I am not familiar with the Representative Director concept or some of the corporate documents referred to. Since Enron Corp. will be a Credit Support Provider, does it have a Representative Director, etc.? The legal opinion requirement is one that we can waive if local counsel does not think it necessary. In many non-US jurisdictions, local counsel have advised that an opinion be obtained - in some cases derivatives transactions are so uncommon that they might be outside the ordinary course of business and therefore require special board approval; in others, derivatives would not be permissible activities for a company unless express provision is made in the corporate documents, etc. Part 5 (b) (g)&(h) These representations originate with CFTC rules in mind (although they may be helpful for other reasons as well). If neither party is in the US, the CFTC reason may go away. On the other hand, since we are choosing New York law to apply the argument might be made that US federal law applies as well. If that is our theory, there are additional representations (the Eligible Swap Participant reps) that we should think about putting back in. Part 5 (d) We are currently evaluating whether we should revise this section to make reference to the ISDA 2000 definitions. While I think we will get there, we haven't actually made the decision yet. So far I guess we leave it the way it is. Part 5 (j) My only concern here is with the value of the Enron Corp. guaranty as a form for a guaranty from a Japanese entity. Any differences in Japan from US practice we should be worried about? Paragraph 13 I have to admit I'm not as familiar with the Paragraph 13 provisions as the Schedule. My only concern here is with the MAC clause and it looks like there's a glitch in the form. It seems to me that if the counterparty is only rated by one of the 2 major agencies we shouldn't be pegged with a MAC if only one of our agencies stops rating us. The way it is drafted now if either S&P or Moody's stops rating us, even if the remaining rating is very high we will have a MAC occur. The counterparty doesn't have to worry about Moody's at all. Just a thought. On the guaranty, you will need to run the choice of law and jurisdiction changes past Clement Abrams at Corp. Legal. My only comment is that we would usually have a cap that is a bit higher (in this case maybe an extra $5,000,000) than the threshold in the CSA - that gives the counterparty a little wiggle room if we fail to post collateral after the threshold is exceeded. Tana is preparing a red-line for me that hopefully will show all of the changes between the US form and the Japan form. I may have a few more comments after I see how that comes out but don't expect many. I hope this is helpful. Please feel free to call and we can walk through these over the phone if that would be useful. We should also talk about the most efficient way to prepare these going forward. It might make sense for Credit to send their worksheets to the paralegals here for a first draft which would then go to you for review before going to the counterparty. It may slow things down by a day or two but it would free you up to work on other things. We're looking forward to having you back.
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.
---------------------- Forwarded by Judy Hernandez/HOU/ECT on 08/03/2000 01:13 PM --------------------------- Mail Delivery Subsystem <[email protected]> on 08/03/2000 12:33:35 PM To: <[email protected]> cc: Subject: Returned mail: User unknown The original message was received at Thu, 3 Aug 2000 12:32:57 -0500 (CDT) from mailman.enron.com [192.168.189.66] ----- The following addresses had permanent fatal errors ----- <[email protected]> ----- Transcript of session follows ----- ... while talking to mx.jersey.juno.com.: >>> RCPT To:<[email protected]> <<< 550 [email protected] is not a valid juno user 550 <[email protected]>... User unknown ----- Original message follows ----- Return-Path: <[email protected]> Received: from mailman.enron.com (mailman.enron.com [192.168.189.66]) by postmaster.enron.com (8.8.8/8.8.8/postmaster-1.00) with ESMTP id MAA01731; Thu, 3 Aug 2000 12:32:57 -0500 (CDT) Received: from dserv1.ect.enron.com (dserv1.ect.enron.com [172.16.1.37]) by mailman.enron.com (8.10.1/8.10.1/corp-1.05) with ESMTP id e73HWuH09352; Thu, 3 Aug 2000 12:32:57 -0500 (CDT) Received: from notes.ect.enron.com (ecthou_gt2.corp.enron.com [172.16.4.33]) by dserv1.ect.enron.com (8.8.8/8.8.8) with SMTP id MAA02571; Thu, 3 Aug 2000 12:32:49 -0500 (CDT) Received: by notes.ect.enron.com(Lotus SMTP MTA v4.6.5 (863.2 5-20-1999)) id 86256930.00605E8E ; Thu, 3 Aug 2000 12:32:36 -0500 X-Lotus-FromDomain: ECT From: "Judy Hernandez" <[email protected]> To: [email protected], [email protected], [email protected], [email protected], [email protected], "Melissa Rodriguez" <[email protected]>, "Maria Sandoval" <[email protected]>, "Sandra R McNichols" <[email protected]>, "Diane Salcido" <[email protected]>, "Angela Barnett" <[email protected]>, "Regina Blackshear" <[email protected]>, "Angela Gill" <[email protected]>, "Warren Perry" <[email protected]>, "Eve Puckett" <[email protected]>, "Leslie Smith" <[email protected]>, "Lisa Shoemake" <[email protected]>, "Amber Ebow" <[email protected]>, "Derick Jones" <[email protected]>, "Veronica I Arriaga" <[email protected]>, "Rose Botello" <[email protected]>, "Judy Walters" <[email protected]>, "Mark D Thorne" <[email protected]> Message-ID: <[email protected]> Date: Thu, 3 Aug 2000 12:32:30 -0500 Subject: Virus Alert Mime-Version: 1.0 Content-type: text/plain; charset=us-ascii Content-Disposition: inline ---------------------- Forwarded by Judy Hernandez/HOU/ECT on 08/03/2000 12:21 PM --------------------------- "SOCORRO HERNANDEZ" <[email protected]> on 08/02/2000 03:55:09 PM To: <[email protected]>, <[email protected]>, <[email protected]>, "A. SUE GONZALES-GUEVARA" <[email protected]>, "Barbara Monte" <[email protected]>, "CATHERINE BROWN" <[email protected]>, "ELIZABETH TRUJILLO" <[email protected]>, "HERBERT NORMAN" <[email protected]>, "JESSICA VEGA" <[email protected]>, "KATHY MARIE MOORE" <[email protected]>, "MARIA THOMPSON" <[email protected]>, "VIVIAN FARRELL" <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]> cc: Subject: Virus Alert > > > > >> > >> Subject: FW: HEALTH ALERT!!!!! > > > > >> > >> > > > > >> > >> > > > > >> > >> > >Health Concern > > > > >> > >> > > > > > > >> > >> > > > > > > >> > >> > >CNN REPORTS A NEW VIRUS HAS BEEN RECENTLY DISCOVERED. ONE PERSON CAN PASS IT ON TO MILLIONS AS IT IS VERY CONTAGIOUS. THE CENTER FOR DISEASE CONTROL HAS REPORTED THIS WEEK THAT THE VIRUS SPREADS VERY RAPIDLY FROM ONE PERSON TO THE NEXT. THEY HAVE PUT A VERY INTERESTING NAME ON THIS VIRUS. > > > > >> > >> > > > > > > >> > >> > > > > > > >> > >> > > > > > > >> > >> > > > > > > >> > >> > >IT IS CALLED....... > > > > >> > >> > > > > > > >> > >> > > > > > > >> > >> > > > > > > >> > >> > > > > > > >> > >> > > > > > > >> > >> > > > > > > >> > >> > > > > > > >> > >> > > > > > > >> > >> > > > > > > >> > >> > > > > > > >> > >> > >A SMILE > > > > >> > >> > > > > > > >> > >> > > @@@@ > > > > >> > >> > > @ _ _ @@ > > > > >> > >> > > @@ o o @@ > > > > >> >> > > @@@ @@?> > > > >> >> > > @@@ \__/ @@@?> > > > > > >>>>> ) (?> > > > >> > >> > >?> > > > >> > >> > >?> > > > >> > >> > >?> > > > >> > >> > >UH! OH! TOO LATE!! I SEE IT ON YOUR FACE ALREADY! You've ?got?the virus!!!!?> > > > >> > >> > >?ALERT! You have just been snuggled by a person that cares 4 ya!??Send this to all your buddies to show that ya care.??> > > > >> > >> > >?> > > > >> > >> > >"I wish for you..."?> > > > >> > >> > >?> > > > >> > >> > >Comfort on difficult days,?> > > > >> > >> > >Smiles when sadness intrudes,?> > > > >> > >> > >Rainbows to follow the clouds,?> > > > >> > >> > >Laughter to kiss your lips,?> > > > >> > >> > >Sunsets to warm your heart,?> > > > >> > >> > >Gentle hugs when spirits sag,?> > > > >> > >> > >Friendships to brighten your being,?> > > > >> > >> > >Beauty for your eyes to see,?> > > > >> > >> > >Confidence for when you doubt,?> > > > >> > >> > >Faith so that you can believe,?> > > > >> > >> > >Courage to know yourself,?> > > > >> > >> > >Patience to accept the truth,?> > > > >> > >>?> > > > >> > >> Have a blessed day.?> > > > >> >?> > > > >> >?> > > > >>?> > > > >>?> > > >?> > >?>????????
---------------------- Forwarded by Carla Hoffman/PDX/ECT on 08/07/2000 08:24 AM --------------------------- Enron Capital & Trade Resources Corp. From: "Pergher, Gunther" <[email protected]> 08/07/2000 06:46 AM To: "Golden, Mark" <[email protected]>, "Kim, Cheryl" <[email protected]>, "Leopold, Jason" <[email protected]> cc: (bcc: Carla Hoffman/PDX/ECT) Subject: DJ BIG PICTURE: Wider Econ Risks In California's Power Woes 13:26 GMT 7 August 2000 =DJ BIG PICTURE: Wider Econ Risks In California's Power Woes By John McAuley Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--Hot weather and a still-robust economy have intensified electricity demand in the face of drum-tight power supplies in California, the nation's most populous - and, in economic terms, most important - state. The resultant rolling "brown outs" and the potential for blackouts in the future could have a noticeable empirical and real impact on industrial production in California and even in the national statistics. Indeed, the impact is likely to be greatest in the highest value-added sectors: computers and computer components, two industries that have been a key engine of U.S. growth. Not only that, electricity generation is an important proxy in the Federal Reserve's estimation of industrial production. So, the measurement of statistics could be directly affected. About half of the industrial output contained in the industrial production index is compiled on the basis of actual output volumes - tons of steel, boardfeet of lumber, or millions of autos assembled, etc. For other forms of output, accounting for about a quarter of the index, contributions to total production are estimated based on hours worked data, with the implicit assumption that productivity - or the rate of real output per labor hour - doesn't change much over short periods of time in these industries. But the remainder of the index, about 26% according to a Fed economist, is estimated using electricity generation measures. For this purpose, electricity generation is itself estimated from measures of electric power usage by industry. Here, as with productivity, the technical coefficient, or the amount of electricity input per unit of output, is assumed to be constant over relatively long periods. As Usual, Things Are Different In California California power companies, as part of the deregulation of the electric power industry, offer their business customers "interruptible rate plans". That means that for a discounted rate, customers "voluntarily" allow the power company to interrupt their power supply in times of peak demand. Too bad. The heat of summer combined with continuing strong economic activity has, in fact, resulted in widespread interruptions throughout California. And there is a precedent for how such interruptions can have both a statistical and real impact on production: the San Francisco earthquake of October 1989. That quake disrupted electricity generation, particularly south of the city in Silicon Valley. Largely as a result of that disruption, national industrial production declined by 0.5% (0.6% in manufacturing) in October 1989. The computer and semiconductor chip producers in Silicon Valley and elsewhere in the state are very heavy users of electricity. It is reasonable to expect that their total consumption of electricity, and their output, have skyrocketed since 1989. This industry has a twofold importance to the rest of the national economy. First, chips are essential inputs to the production of other industries from "smart chips" in cars to central processing units for computers. Thus, a bottleneck in chip supplies because of electricity interruptions could have ripple effects beyond California. Second, chip production is among the highest value-added activities in the U.S. economy - each stage of production adds significantly to the value of total output. This means that the specific shock impact on this industry could have a greatly magnified effect on overall economic activity. The usage is not confined to chip production, however. An extensive range of other California-based industries - from chemicals to textiles - have intensive electricity usage in their production. Their production will be estimated lower because of the reduction in electricity. And in fact, real production will be lowered by a reduced electricity input. Ironically, these interruptions could complement the Fed's efforts to slow economic activity and take some of the pressure off for further rate increases. What infuriates Californians might actually be a welcome development for the rest of us. -By John McAuley, Dow Jones Newswires, 201-938-4425 [email protected] Copyright (c) 2000, Dow Jones & Company Inc G_nther A. Pergher Senior Analyst Dow Jones & Company Inc. Tel. 609.520.7067 Fax. 609.452.3531 The information transmitted is intended only for the person or entity to which it is addressed and may contain confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient is prohibited. If you received this in error, please contact the sender and delete the material from any computer. <<Gunther Pergher (E-mail).vcf>> - Gunther Pergher (E-mail).vcf
Dear Energy Supply/Power Marketing Executive: This Alliance Info Alert includes: Listing of recent filings at FERC New issue of FERC Filings - containing analyses of significant filings, including: RTO DEVELOPMENTS PJM Complaint to Amend Reliability Assurance Agreement Draws Divergent Reactions; Parties Differ Over Proposals Effectiveness, Unintended Consequences MARKET COMPLAINTS CARE, California Suppliers Spar Over Alleged Market Manipulation MISCELLANEOUS PJM Station Power Order Draws Various Opposition and Multiple Requests for Clarification and Rehearing; Parties Question Proper Extent of the Order (attached pdf file) == RECENT FERC FILINGS == (1) RTO DEVELOPMENTS The residents of the La Jolla Village Towers in San Diego, CA filed approximately 30 letters requesting action from the Commission to resolve California's energy crisis. EL00-95-000, et. al. Filed May 17, 2001. * The following entities filed comments on CAISO's compliance filing pursuant to the Commission's April 26, 2001 Order regarding mitigation and monitoring of the CA wholesale market and a western wholesale rate investigation. EL00-95-034 and EL00-98-033. Filed May 23, 2001. - WESTERN POWER TRADING FORUM - MIRANT COMPANIES - RELIANT POWER GENERATION and RELIANT ENERGY SERVICES - DYNEGY POWER MARKETING, EL SEGUNDO POWER, LONG BEACH GENERATION and CABRILLO I and II - WILLIAMS ENERGY MARKETING AND TRADING - CITY OF VERNON, CA - DUKE ENERGY NORTH AMERICA and DUKE ENERGY TRADING & MARKETING - NORTHERN CALIFORNIA POWER AGENCY - SOUTHERN CALIFORNIA EDISON CO. * PACIFIC GAS & ELECTRIC CO. and WILLIAMS ENERGY MARKETING & TRADING each filed answers to CAISO's request for rehearing of the Commission's April 6, 2001 Order regarding creditworthiness issues. ER01-889-004, et. al. Filed May 22, 2001. * SOUTHERN CALIFORNIA EDISON CO. and PACIFIC GAS & ELECTRIC CO. filed a joint supplemental filing to their request for rehearing and the NORTHERN CALIFORNIA POWER AGENCY filed an answer regarding the Commission's March 9, 2001 Order directing sellers to provide refunds or cost justifications for January sales in the California wholesale electric market. EL00-95-019 et. al. Filed May 24, 2001. * The following entities filed responses to PJM's revisions to its OATT and Operating Agreement to modify the rules regarding the provision of station power. ER01-1936-000. Filed May 22, 2001. - CONECTIV - PPL ELECTRIC UTILITIES CORP. - DYNEGY POWER MARKETING - KEYSPAN-RAVENSWOOD - DUKE ENERGY NORTH AMERICA * ENRON POWER MARKETING, ARIZONA PUBLIC SERVICE CO., CARGILL ALLIANT, AVISTA ENERGY, SEMPRA ENERGY TRADING CORP., PACIFICORP and CONSTELLATION POWER SOURCE (one filing) and CAL PX each filed comments regarding CAL PX's request for rehearing of the Commission's April 6, 2001 Order regarding charge-backs and liquidation of collateral. EL01-36, 37, 43, 29, 33-000. Filed May 22, 2001. * NYISO filed an answer to the LONG ISLAND POWER AUTHORITY and LIPA (one filing) to the NEW YORK STATE ELECTRIC & GAS CORP., ROCHESTER GAS & ELECTRIC CORP. and NIAGARA MOHAWK POWER CORP. LONG ISLAND POWER AUTHORITY and LIPA's responses and opposition to NYISO's motion for extension of time to implement its Market Administration and Control Area Services Tariff in order to implement locational reserve pricing. ER00-3591-006 and ER00-1969-007, ER01-94-000 and ER01-180-000. Filed May 22, 2001. (2) OATT/TRANSMISSION * DUKE ENERGY NORTH AMERICA and ALCOA POWER GENERATING filed motions to intervene regarding SOUTHERN INDIANA GAS & ELECTRIC CO.'s revisions to its OATT updating rates, amending Energy Imbalance Service, establishing a charge for exceeding transmission reservation, establishing a Power Factor Correction Service, providing Interconnection Procedures, and adding a dynamic scheduling provision. ER01-1938-000. Filed May 22, 2001. * DETROIT EDISON CO. and INTERNATIONAL TRANSMISSION CO. filed a joint response to DEARBORN INDUSTRIAL GENERATION's protest of DETROIT EDISON's revised draft of an unexecuted Distribution Interconnection Agreement between itself and DEARBORN INDUSTRIAL GENERATION. EL01-51-002 and ER01-1649-002. Filed May 22, 2001. * NRG COMPANIES, KEYSPAN-RAVENSWOOD and MEMBERS OF THE TRANSMISSION OWNERS COMMITTEE OF THE ENERGY ASSOC. OF NEW YORK STATE each filed motions to intervene regarding NYISO's filed revisions to its OATT regarding Code of Conduct. ER01-1942-000. Filed May 23, 2001. * FLORIDA KEYS COOP. ASSOC., pursuant to the Commission's April 24, 2001 Order, submitted a compliance filing including a rate schedule and the Long-term Joint Investment Transmission Agreement between itself and the CITY ELECTRIC SYSTEM, KEY WEST, FL. ER01-1590-001. Filed May 23, 2001. (3) MARKET COMPLAINTS * The following entities filed responses to LG&E ENERGY MARKETING's complaint against SOUTHERN COMPANIES and GEORGIA TRANSMISSION CORP. regarding the priority of queuing for transmission rights. EL01-78-000. Filed May 22, 2001. - GEORGIA TRANSMISSION CORP. - SOUTHERN COMPANY SERVICES - MONROE POWER - MUNICIPAL ELECTRIC AUTHORITY OF GEORGIA * AMERICAN REF-FUEL COMPANY OF NIAGARA filed a protest and request for a hearing regarding vertical market power and control of access to transmission lines involved with the NIAGARA MOHAWK and NATIONAL GRID merger. EC01-63-000. Filed May 22, 2001. Nancy Tarr Manager, Business Development EEI Alliance of Energy Suppliers 701 Pennsylvania Ave., N.W. Washington, D.C. 20004 Telephone: 202-508-5680 FAX: 202-508-5600 www.eei.org/alliance [email protected] - TEXT.htm - FERCFilings052901.pdf ********** Log on to Our Energy Future ( www.eei.org ) to get the facts on today's issues and learn about solutions we can all take part in.
---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 02/18/2000 09:01 AM --------------------------- Julia Shaw <[email protected]> on 09/29/99 03:49:07 AM To: Vince J Kaminski/HOU/ECT@ECT cc: Subject: Re: Real Options Conference Monday 21st & Tuesday 22nd February2000 Dear Mr Kamins I am delighted that you would like to speak at the forthcoming "Real Options" conference. Would your company be covering travel and hotel expenses? If not I would need to get internal sign off to cover any expenses you would have. Please can you tell me either way so that I can make the requisite inquiries if required. The speakers at the conference have provided me with between 5-8 bullet points for their talks. Could you email me a few ideas with regard to the content of the talk and I will email back my ideas. I have attached one of the talks at the conference to give you an idea of the style of the talks which have already been included. I look forward to speaking with you later this afternoon. Kind regards Julia Shaw Conference Producer Tel:44 171 915 5650 Fax:44 171 915 5001 Email:[email protected] >>> "Vince J Kaminski" <[email protected]> 09/27/99 07:05pm >>> Dear Ms. Shaw, I have just returned from London. One of the points on my agenda was an internal seminar on the topic of real options my group offered to the Enron unit in London. Real options is a valuation technology I have been promoting internally for quite a long time. I shall be glad to speak at your conference. Proposed topic: "Real Options and Valuation of Fixed Assets in the Energy Industry". Please, let me know if this of interest to you. Vince Kaminski Julia Shaw <[email protected]> on 09/24/99 06:13:07 AM To: Vince J Kaminski/HOU/ECT@ECT cc: Subject: Real Options Conference Monday 21st & Tuesday 22nd February 2000 Dear Mr Kaminski, I was given your name by Ann Wagoner and I believe that you area speaking at her conference on Real Options. I work in the London office of IIR and am putting on a similar conference. Your company has been mentioned by a wide variety of people who I have spoken with about real options. A number of people have mentioned that your company is regarded very much as a market leader. I would like to discover if a representative from ENRON might be interested in speaking at the conference. I have attached the draft programme with agreed speakers to date. The conference is by no means set in stone and if a speaker from ENRON decided to become involved I would ensure that you were given a good speaking slot in the conference and would have editorial control over the talk. I very much hope that ENRON will become involved with the conference and I look forward to speaking with you today or next week about the prospect. Kind regards Julia Shaw Conference Producer Tel 44 171 915 5650 Fax 44 171 915 5001 Email:[email protected] ! ! ! ! ! ! - Smith.doc
----- Forwarded by Gerald Nemec/HOU/ECT on 06/01/2001 06:08 PM ----- "Gillaspie, Eric" <[email protected]> 06/01/2001 10:50 AM To: "Barbara Waldrop (E-mail)" <[email protected]>, "Gerald Nemec (E-mail)" <[email protected]> cc: Subject: FW: Jon's latest.... Eric Gillaspie Counsel Shell Trading Gas and Power Company Tel. 713-230-3576 Fax 713-265-3576 2HC 1036 -----Original Message----- From: jonathan gillaspie [mailto:[email protected]] Sent: Friday, June 01, 2001 9:43 AM To: [email protected]; Gillaspie, Eric; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected] Subject: OK Kids: This will be one of your last major briefings before your Mars landing. Good luck cosmonauts! Remember one thing: the Martians are a little weird from our standpoint, but essentially they are harmless and good-natured bipeds like us. Now, let's begin with the pre-landing meeting. ERIC/DAN'S GROUP: Shanghai hotel: Jin Chang Hotel. Hotel price: $37 USD/night (300 yuan). Heather's single room rate: $27 USD/night. Tour package price: $34 USD total/person (280 yuan) this price is for June 5-8. Meals: Meals not included in package. Your group will need to arrange and pay for your own meals with the assistance of your guide/translator. Your translator will accompany you to the restaurants if you wish. He/she can help you order and suggest dishes which represent the local Shanghai cuisine. Go ahead and pay for your guide's meal if you choose to bring them along for dinner (it won't be very expensive). This option will give you more freedom. Admission tickets: Also not included in the tour package. You'll need to pay for admission to the Yu Yuan Gardens, Yu Fo Si (Buddhist Temple), Shanghai Art Museum, etc. Airport service: Jin Chang Hotel staff will pick you up at Pudong Airport in Shanghai. Ai Ping and I will accompany them and meet you. They'll also take you and the rest of the group to the airport on June 8th for your flight to Qingdao. We got a special hotel rate for the group through one of Ai Ping's friends, Lucy Hong. Her company, Rosemont Corp. (Dallas, TX), has a special arrangement with the hotel. When you check in you should tell the clerks that you're checkin in under the Rosemont Corp's name so as to receive the special discount. Don't worry- we'll be there to assist you when you check in. MOM/DAD'S GROUP: Hotel name: Jin Chang Hotel, same as above. Hotel price: $37 USD/night (300 yuan), same as above. Tour package price: $24 USD total/person, reduced price because one day less in Shanghai. Airport service: Jin Chang Hotel staff will pick you up at the airport and take you to the airport for your Qingdao flight on June 8th.] Note: you also need to check-in under the Rosemont Corp. name. JEFF/CATHY: Hotel name: Jin Chang Hotel, same as above. Hotel price: same as above. No tour package. Airport service: none. You'll need to take a taxi into Shanghai from Pudong Airport. You could also take a bus, but I'm not sure which of the 4-5 buses you would need to take. Jeff, I'll have Ai Ping try and send you the Hotel name and address in Chinese so you can just show it to the taxi driver. I'm not sure whether or not your computer will accept Chinese script, but we'll give it a try. The Jin Chang Hotel is relatively new, so most of the taxi drivers don't know where it is without a little assistance. Not to worry, we'll figure something out to make sure you don't end up in Chengdu after your trans-Pacific hop. You'll join the rest of the group the following morning on the hotel bus to the airport for your Qingdao flight. THE FOLLOWING ARE THE NAMES AND PHONE NUMBERS FOR THE VARIOUS HOTELS YOU'LL BE STAYING IN: SHANGHAI: Jin Chang Hotel Telephone: 021-6298 8899 QINGDAO: Donghai Hotel Telephone: 053-2388 7070 BEIJING: Beijing International Hotel Telephone: 010-6512 6688 When you call these numbers you should say in perfect Mandarin, "Qian tai." This means "front desk." Then start blabbing in your most unintelligible English. The hotel staff will then understand that they've got a foreign devil on the line making trouble, and they'll find someone who can speak Chinglish with you. Ai Ping and Jon Gillaspie's mobile phone number: 013033511842. We got Ai Ping's cell phone hooked up again specifically to assist all parties in their entrance to the middle kingdom. Do not hesitate to call us any any time of the day if you need help. I'm serious! Ai Ping's beeper number: 1922202866. You can use this number also. BEIJING TOUR PACKAGE DETAILS: Hotel name: Beijing International Hotel, 5 star hotel. Hotel price: $70 USD/night (570 yuan). Total package price: $550 USD/couple total. This price does not include beverages (ie. in restaurants we buy the booze). We'll also need to pay for the roast Beijing duck dinner, and the Xinjiang restaurant dinner (Chinese Muslim cuisine). Tour package itinerary: same as before with some minor changes; will inform group of changes tomorrow. That's all for now folks. I'm spent, and can no longer look at a computer monitor without becoming cross-eyed. More info will be sent tomorrow. Any questions: you know who to contact. Zaijian comrades, may the proletarian revolution continue! The East is Red, Jon Gillaspie _________________________________________________________________________ Get Your Private, Free E-mail from MSN Hotmail at http://www.hotmail.com.
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---------------------- Forwarded by Judy Hernandez/HOU/ECT on 08/04/2000 08:33 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 X-Apparently-To: [email protected] via web705.mail.yahoo.com 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. > > > > > > > > > > > > > > >
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For more information on Amsterdam, please visit http://www.usairways.com/travelguide/europe/ams.htm FROM: TO: ROUNDTRIP FARE: ------------------------------------------------------------------- Baltimore, MD Amsterdam, Netherlands $327 Philadelphia, PA Amsterdam, Netherlands $297 Fares shown are based on roundtrip Coach travel on US Airways/US Airways Express, during the period specified above. Depending upon your travel needs, alternative routings may be available at the same fares, with part of the service on regional aircraft operated by US Airways Express carriers Allegheny, Air Midwest, CCAIR, Chautauqua, Colgan, Mesa, Piedmont, PSA, Shuttle America or Trans States. For travel, call 1-888-FLY-E-SAVERS and request one of the E-Savers listed above. Or, to make your reservations online and save $10, please visit us at http://www.usairways.com/esavers/offer_ams.htm Reminder: Make sure your Dividend Miles account number is in your E-Savers reservation, so you can earn miles for worldwide award travel on US Airways and our partners. To enroll in Dividend Miles, go to http://www.usairways.com/dividendmiles/index.htm To earn even more miles, book E-Savers using your US Airways Dividend Miles Visa card. To apply for the Dividend Miles Visa card issued by Bank of America, please visit us at http://www.usairways.com/dmcreditcards Please note: Online booking mileage bonus does not apply to E-Savers. ****************************************************************** US AIRWAYS VACATIONS US Airways Vacations is pleased to offer Amsterdam land packages to provide a complete vacation experience. Vacations include hotel accommodations for one night; daily breakfast; hotel taxes and Amsterdam for Less guidebook, map and discount coupons. 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Sally, Congratulations on your promotion. . .it is well deserved! You have been such a big influence in my career, and I sincerely appreciate all that you do. Thanks again, Carrie ---------------------- Forwarded by Carrie Slagle/HOU/ECT on 01/16/2001 10:56 AM --------------------------- Enron North America Corp. From: Office of the Chairman @ ENRON 01/12/2001 07:31 PM Sent by: Office of the Chairman@ENRON 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
---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 02/04/2000 06:12 PM --------------------------- Enron North America Corp. From: Press Release @ ENRON 02/02/2000 06:21 PM To: All Enron Worldwide cc: Subject: ROAD-SHOW.COM Q4i.COM CHOOSE ENRON TO DELIVER FINANCIAL WEB CONTENT HOUSTON ) Enron Broadband Services (EBS), a wholly owned subsidiary of Enron Corp. and a leader in the delivery of high-bandwidth application services, announced today content delivery contracts with Road-Show.Com, an online resource for individual investors, and Q4i.com, a financial services provider offering an online broker resource called BrokerIQ. The two financial services companies will use Enron,s ePoweredv Market Cast and the Enron Intelligent Networkv (EIN) to enhance the quality and speed of content delivery to their investors. Enron,s solution provides TV-quality streaming video with delivery speeds up to 50 times faster than the public Internet. &These agreements reflect the financial services industry,s need for better and faster delivery of online content,8 said Joe Hirko, co-CEO of Enron Broadband Services. &The Enron Intelligent Network allows visionary companies like Road-Show.Com and Q4i.com to serve their customers with video to the desktop that has unparalleled speed, clarity and quality.8 Road-Show.Com is a fully integrated producer of online streaming media. The company,s Xvenuev platform offers clients a turn-key solution for personalized live or on-demand webcast communications. Road-Show.Com broadly streams the presentations that companies typically give on road shows prior to an initial public offering to audiences that include individual and professional investors. &The Enron Intelligent Network and Market Cast technology will allow Road-Show.Com to offer our customers something they have never had access to before ) real-time company presentations and one of the fastest, richest viewing experiences possible. This will enhance their ability to make fully educated investment decisions,8 said Trey Fecteau, president of Road-Show.Com. Q4i.com provides &one-stop8 advanced technology solutions for financial services companies and their clients. With its flagship product, BrokerIQv, professional brokers and their firms have a complete broker management system at their fingertips. Q4i.com will utilize EBS to distribute financial video clips to clients via its BrokerCityv product. In addition, Enron will deliver Q4i.com,s live and on-demand streaming video clips of golf resorts, golf courses, golf real estate, equipment and golf travel for Internet users around the world through GolfTVv, Q4i.com,s online video network. &Our clients now have streaming video features available on their desktops via Enron,s network,8 said J. Frederic Storaska, chairman and co-CEO of Q4i.com. &They not only will enjoy on-demand streaming video of financial and golf information, but they,ll have the opportunity to take advantage of special vacation and equipment offers reserved exclusively for our broker-dealers.8 Enron,s ePowered Market Cast Solution ePowered Market Cast, an application of the Enron Intelligent Network, is an end-to-end streaming media solution for banks, brokerages and other financial services firms. Using ePowered Market Cast, companies can enhance investor relations, conduct virtual road shows and stream analyst presentations from their websites. In addition, ePowered Market Cast is a powerful intranet solution for providing real-time financial news, data feeds, training and presentations to an internal audience. The application streams video at an average bit-rate speed of 200 kilobits per second (kbps). The Enron Intelligent Network is based on distributed server architecture, a pure Internet Protocol (IP) platform and embedded software intelligence that sets it apart from other networks. The EIN,s enhanced performance is due to its ability to deliver streaming media content &one hop8 away from the user at the closest EIN edge server. The result is a TV-quality viewing experience for the user. In contrast, the public Internet,s ability to deliver the broadband content businesses need is often hampered by packet loss, interference and other disruptions that slow down transmission speed and compromise the end user,s experience. About Enron Broadband Services Enron Broadband Services, formerly Enron Communications, Inc., is a leading provider of high quality, broadband Internet content and applications. The company,s business model combines the power of the Enron Intelligent Network, Enron,s Broadband Operating System, bandwidth trading and intermediation services, and high-bandwidth applications, to fundamentally improve the experience and functionality of the Internet. Enron introduces its Broadband Operating System to allow application developers to dynamically provision bandwidth on demand for the end-to-end quality of service necessary to deliver broadband content. Enron is also creating a market for bandwidth that will allow network providers to scale to meet the demands that increasingly complex applications require. A wholly owned subsidiary of Enron Corp. (NYSE: ENE), Enron Broadband Services can be found on the Web at www.enron.net. About Enron Enron is one of the world,s leading electricity, natural gas and communications companies. The company, which owns approximately $34 billion in energy and communications assets, produces electricity and natural gas, develops, constructs and operates energy facilities worldwide, delivers physical commodities and financial and risk management services to customers around the world, and is developing an intelligent network platform to facilitate online business. Enron,s Internet address is www.enron.com. The stock is traded under the ticker symbol, &ENE.8
This sounds a lot better. I will call Walt Pollock. ---------------------- Forwarded by Sheila Tweed/HOU/ECT on 02/15/2000 08:08 AM --------------------------- [email protected] on 02/14/2000 07:54:46 PM To: [email protected] cc: Subject: Additional References Hello Sheila. I am surprised that the people whom I listed did not speak about transactional work. I suspect that part of it is that they tend to remember things we first did together--first impressions are most readily recalled. Therefore, this time I will give some notes to accompany the names, to help you jog their memories about things we worked on together. First, I would like you to talk again to Fergus Pilon at Columbia River PUD. Ask him about the Coastal Corporation transactions. That involved their biggest industrial customer, who announced that they either wanted off the system or wanted a sweetheart deal. I helped the PUD call the customer's bluff, and then we negotiated a mutually beneficial long-term power purchase agreement. That transaction had a regulatory piece to it, in that we had to set out the boundaries on the flexibility available to the industrial customer, before we could negotiate from a position of relative strength. But it was much more of a deal negotiation, in that we put together a power supply arrangement for the customer that was unlike anything either party had ever done, instead of cramming a short term victory through and creating an enemy that would leave the utility as soon as it was possible--which could have been in a few years. The crux of the deal was putting together the contract. I am sure this is very similar to a lot of the ENA "origination" work being done out of Portland. Next, ask Fergus about the work I did for them on the "Iron Carbide" project. This was a proposed project that never came about. It would have brought in a new large industrial customer to the utility's system. We drafted an MOU between the industrial customer, the utility and the developer for an EPC project, and then fleshed it out with project documents --ownership agreement, O&M agreement, etc. The project fell apart when the customer changed its mind about building the new processing plant. But, we spent a significant amount of time creating the business terms for a deal, and putting it all into contract form. Next, I suggest you talk to Walt Pollock at Portland General. I imagine you at least know who Walt is. Initially he might also think of some of our earlier regulatory work. But ask him about the following. The WPPSS-3 negotiation. The impetus for this was a massive lawsuit, but the solution was a transaction that we put together. It was a creative arrangement, substituting phantom generating projects for real but dead projects, and supplying the physical power, when called upon, with BPA system power, and the rest of the time, doing an imaginary power supply that was really a financial swap that offset the price that various parties paid. Again, we had to analyze preexisting contracts, the law, and the regulatory framework in which all the parties operated, but the crux of this matter was a series of very complicated contracts creating both physical and financial transactions. Also, ask Walt about the transmission contracts we negotiated on behalf of BPA's large generating customers. BPA wanted to, and historically had, dictated terms for access to and use of the BPA transmission facilities. Utilities that had some of their own generation that they wanted to put onto the grid had to deal with BPA, which viewed them as competitors more than customers, although they were both. I played on the customer roll, and the fact that BPA would eventually lose them as customers if it persisted in its imperious conduct, in order to negotiate the terms of transmission contracts in that other role as competitors. Again, there was certainly a regulatory aspect to this whole matter, but it was essentially a transactional matter, captured in contracts with BPA, and leading to the second shoe falling--in the form of the generating project development and sales that the utility customers then were able to undertake and which I helped to negotiate at the same time. Next, contact Loren Baker, President of Power Resource Managers, 2100 112th Ave, NE, Suite 100, Bellevue, Washington, 98004. Phone 425-451-9123. I worked for PRM on a proposed package of generating resources that were being developed on behalf of a consortium of utilities. Depending on the ultimate level of demand, the package was going to include a number of different generating projects. I drafted the MOU among the utilities, the prospective developers (something like 6 different developers at various times, narrowing to 3 at the point that negotiations got serious). I then drafted ownership agreements, O&M agreements, etc., for the various proposed projects. These projects were not developed ultimately, because a critical mass of the utility sponsors dropped out of the "package." Probably more than for any single client, I did project development work for the Eugene Water & Electric Board. I could give you the name of the project development manager there, and he would give me a glowing recommendation. I would rather not do that however, because EWEB is still very close to Larry Cable, and I would rather that, at this point, our conversations not get back to him--as would certainly be the case if you contacted anyone at EWEB. If you can adequately do your due diligence on me without talking to EWEB, I would prefer that approach. Let me know if these additional contacts (with the memory joggers) suffice. Al Larsen
----- Forwarded by Jeff Dasovich/NA/Enron on 07/13/2001 05:14 PM ----- Jeff Dasovich Sent by: Jeff Dasovich 07/13/2001 05:13 PM To: [email protected], "'Barbara Barkovich (E-mail)'" <[email protected]>, "Dominic DiMare (E-mail)" <[email protected]>, "'Dorothy Rothrock (E-mail)'" <[email protected]>, "'John Fielder (E-mail)'" <[email protected]>, "'Phil Isenberg (E-mail)'" <[email protected]>, "'Jeff Dasovich (E-mail)'" <[email protected]>, "'Keith McCrea (E-mail)'" <[email protected]>, "'Linda Sherif (E-mail)'" <[email protected]>, "'Linda Sherif (E-mail 2)'" <[email protected]>, "'Gary Schoonyan (E-mail)'" <[email protected]>, "'John White (E-mail)'" <[email protected]>, <[email protected]> cc: Subject: Dow Jones--PUC to Raise Rates Another 25% to Cover DWR Contracts? Calif DWR Seen Asking PUC To Order 25% Rate Increase Fri By Jason Leopold 07/13/2001 Dow Jones Energy Service (Copyright (c) 2001, Dow Jones & Company, Inc.) Of DOW JONES NEWSWIRES (This article was originally published earlier Friday.) LOS ANGELES -(Dow Jones)- The California Department of Water Resources, the agency purchasing a bulk of the state's power needs in lieu of the three investor-owned utilities, is expected to tell state regulators Friday that they need to increase electricity rates by as much as 25%. This is because there are insufficient funds in the current revenue stream to cover a $13.4 billion bond sale, three commissioners with the Public Utilities Commission told Dow Jones Newswires late Thursday. PUC President Loretta Lynch is expected to issue a draft decision Friday either endorsing the rate hike request or calling for an audit of the DWR's current revenue stream before she makes a decision, aides in her office said. If the PUC determines that there are not enough funds in the current rate structure to cover the bond sale, it will have no choice but to order the rate increase, according to the legislation that put the state in the power buying business. Businesses are expected to bear most of the burden of the rate increase, the second in just two months, if approved by the PUC, the commissioners said. "Back in May when we ordered the first rate increase, we said we may be forced to do it again by the summer," one commissioner said. "It's unfortunate, but it shouldn't be a shock to anyone. The state has made an enormous commitment to Wall Street that rates would go up whenever it's needed to ensure there is enough money to pay off those bonds." Lynch and a spokesman for the DWR were unavailable for comment late Thursday. Separately, Assembly Speaker Pro Tem Fred Keeley, D-Boulder Creek, has drafted a proposal expected to be introduced into the Assembly Friday or Saturday that would have large businesses using the most electricity to finance the bulk of the $43 billion in long-term power supply contracts, aides in his office said. Moreover, Keeley's plan is aimed at reducing rates for consumers who use the least amount of power. Details of the plan are still sketchy, aides said. Possible Rate Hike To Generate $2.5B Yearly For State The 50% rate increase ordered in May is expected to generate $5 billion annually, and if the PUC orders a 25% increase, that is expected to generate $2.5 billion. However, it is still unclear if that is enough, the commissioners said. Businesses are expected to bear most of the burden of the rate increase, the second in four months, if approved by the PUC, the three commissioners said. Since January, the state has spent nearly $8.5 billion buying electricity on behalf of customers of Edison International (EIX) unit Southern California Edison, Sempra Energy (SRE) unit San Diego Gas & Electric and PG&E Corp. (PCG) unit Pacific Gas & Electric. The state has borrowed more than $7 billion from its general fund, which must be repaid by ratepayers at 6% interest, to purchase power. In addition, the state has locked itself into $43 billion in long-term power supply contracts at high prices for as much as 20 years to ensure there is enough power to meet demand. Future rate increases to finance the contracts are likely, state officials have said. But if the PUC orders another rate increase, the money won't benefit the utilities, which have billions of dollars in power costs to recover. Instead, it will be used to guarantee Wall Street financial institutions that there is sufficient funds in the rate structure to allow $13.4 billion in revenue bonds to be sold. The bonds are expected to be sold in August or September, said state Treasurer Phil Angelides. The commissioners said the PUC and the DWR waited to address another rate hike to see if state officials and generators were successful in coming to terms on $8.9 billion the state says it was overcharged for power since last year. After two weeks of hearings between generators and a delegation of California utility executives and energy officials, talks broke down Monday. Generators offered the state $716 million in refunds, but Gov. Gray Davis balked, threatening to sue to recover the full $8.9 billion. Any refunds would have been disbursed to the utilities and the DWR, which could have deferred the need for any rate increase, according to Steve Maviglio, press secretary to Davis. An administrative law judge with the Federal Energy Regulatory Commission said Thursday he will recommend that the commission not order cash refunds to California because the state's utilities owe far more money to the generators than what he thinks the state is owed. -By Jason Leopold; Dow Jones Newswires; 323-658-3874; [email protected]
State's Power Purchases Costlier Than Projected Tab is $6 million a day over Davis' requests Lynda Gledhill, Chronicle Sacramento Bureau Friday, March 16, 2001 ,2001 San Francisco Chronicle Sacramento -- California has spent about $6 million more a day buying electrical power than originally projected, according to a confidential document obtained yesterday by The Chronicle. State power buyers spent $2.7 billion between Jan. 17 and March 11, averaging $49 million a day. That amounts to about $6 million a day more than lawmakers figured using Gov. Gray Davis' appropriations requests. The confidential document was prepared by the Department of Water Resources, which purchases power on behalf of the state. It was handed to a group of lawmakers in a subcommittee hearing Wednesday by Water Resources Director Tom Hannigan. To the public, the document presents the first day-by-day look at how much California is spending on power purchases. Although the document shows more money being spent than originally believed, it didn't startle any of the handful of senators and Assembly members who saw it. "I don't think it was a surprise," said Assemblyman Dick Dickerson, R- Redding. Although the state is supposed to recoup the money spent on electricity, analysts and lawmakers say the open spigot on the state's treasury could jeopardize the state budget and fiscal well-being in the short and long term. For example, the state's power spending could jeopardize new education programs and transportation projects. The nonpartisan Legislative Analyst warned last month that lawmakers shouldn't count on all the new projects in Davis' proposed budget. Also, California has already been placed on a watch list by several credit rating firms, because of the deep debt that could be incurred in helping the utilities become financially stable. The watch list typically precedes a credit rating drop, which would cause the state's interest on bonds and loans to rise. "This (power purchasing) has a dampening effect," said Jean Ross, executive director of the California Budget Project, an independent policy group that tracks state spending. "Nobody knows where the economy is going, and how the energy crisis will affect it, so no one will know what the revenues will look like in the future." The biggest day of power buying happened on Feb. 16 when the state spent nearly $81 million for electricity, or $435 per megawatt hour. The smallest day was March 10 when the state buyers spent $40 million, or $219 per megawatt hour. Michael Worm, an analyst with the investment firm Gerald Klauer Mattison & Co., said what the state paid was in line with current energy prices. "That's where energy prices more or less have been for quite some time," he said. "Of course, they are dramatically higher than they used to be." The governor's office has refused to release information on how much the state has spent, said Steve Maviglio, Davis' spokesman. Maviglio said if generators found out how much the state spent the day before, they could force up the price the next day. But Assemblyman Tony Strickland, R-Thousand Oaks, said the public had a right to know how its money way being spent. "People need to know exactly what it is costing to keep the lights on," he said. "We want to know the whole story -- not just pieces." Strickland, along with media organizations including The Chronicle, have filed public records act requests to obtain information on how much the state has spent, along with the details of long-term power contracts signed by Davis. The original bill that authorized the state to purchase power appropriated only $500 million, but allowed the governor to use up to $10 billion if needed for power purchases by notifying lawmakers. The governor's office has sent five letters since Feb. 5 to lawmakers notifying them that additional money was needed. Based on these letters, which in total have requested an additional $2.5 billion, the news media and lawmakers estimated that the state was spending $43 million a day -- $6 million less than the actual costs shown on the Water Resources document. Since the state began purchasing electricity, the health of its budget has become dependent on a variety of things to come, making it as fragile as a house of cards. The money spent on power is taken from the state's general fund and is supposed to be returned through the issuance of state bonds. The bonds will be paid for with a portion of the rates that utility customers pay every month. - Tell Us What You Think Can you save 20 percent on your energy usage? Gov. Gray Davis is offering rebates for Californians who save on power starting in June, and if you've got a strategy for conserving, The Chronicle wants to hear it. Contact the Energy Desk, San Francisco Chronicle, 901 Mission St., San Francisco, CA 94103; or e- mail [email protected]. -- E-mail Lynda Gledhill at [email protected]. Paying for Power These charts show what the state spent for electricity on the spot market and the average price paid. For the time frame of Jan. 17 through Feb. 14, only periodic totals and averages were given. Period Amount spent 9 p.m. Jan. 17 through Jan. 18 $13,595,121 Jan. 19 - 29 399,000,000 Jan. 29 - 31 136,546,472 Feb. 1 - 12 495,755,000 Feb. 12 - 14 152,087,316 Chronicle Graphic ,2001 San Francisco Chronicle ? Page?A - 11
Rain Let's talk about this ---------------------- Forwarded by Hunter S Shively/HOU/ECT on 01/02/2001 04:35 PM --------------------------- Janet R Dietrich 01/02/2001 03:28 PM To: Ina Rangel/HOU/ECT@ECT, Lorie Belsha/HOU/ECT@ECT cc: Scott Neal/HOU/ECT@ECT, Frank W Vickers/HOU/ECT@ECT, Hunter S Shively/HOU/ECT@ECT Subject: Re: Churn for Market Intelligence - Adam Plager I know coordinating these moves is a real pain, but we have 4 commercial individuals that need to be sitting at the East gas desk: Frank Vickers, Gil Muhl, Phil Demoes, David Jones. Effective Jan. 1, they are part of the East gas team, and it's critical they sit with them. Could you get with Scott and Hunter and see what else can be done? Thanks. ---------------------- Forwarded by Janet R Dietrich/HOU/ECT on 01/02/2001 03:10 PM --------------------------- Enron North America Corp. From: Lorie Belsha 01/02/2001 02:51 PM To: Ina Rangel/HOU/ECT@ECT cc: Heather Choate/HOU/ECT@ECT, Tammy R Shepperd/HOU/ECT@ECT, Janet R Dietrich/HOU/ECT@ECT Subject: Re: Churn for Market Intelligence - Adam Plager Ina, Have you made other arrangements for Frank's group or do we need to get together and try to come up with a "quick fix"? I know before when I was up there inquiring about this, you had said that you were working on this same request for Scott Neal, so I wanted to check with you first before doing anything. Thanks Lorie x39617 ---------------------- Forwarded by Lorie Belsha/HOU/ECT on 01/02/2001 02:50 PM --------------------------- Heather Choate 01/02/2001 02:44 PM To: Lorie Belsha/HOU/ECT@ECT cc: Kimberly Brown/HOU/ECT@ECT Subject: Re: Churn for Market Intelligence - Adam Plager Lorie, Adam is on the churn for tonite. However...Colin Tonks has laid claimed for those spaces with Hunter Shively's approval. Also, thought you might need to know that with Adam's departure, that makes only three desks available (3247c,d and e). 3247a & b are currently being occupied by employees of Chris Gaskill with no plans to move to the best of my knowledge. This of course, still leaves Kim Brown looking for (3) spaces on 32. Additionally, regarding Brenda Herod, her final count is (30) consultants, (26) current employees and (9) to be hired in January. Please let me know if I can be of further assistance, Heather, x33278 Enron North America Corp. From: Lorie Belsha 01/02/2001 02:28 PM To: Heather Choate/HOU/ECT@ECT cc: Ina Rangel/HOU/ECT@ECT Subject: Re: Churn for Market Intelligence - Adam Plager Heather, Is Adam's group on the churn for tonight? Does this mean the spaces will become available to Frank Vickers and others after tonight? Thanks Lorie Heather Choate 12/27/2000 09:58 AM To: Ina Rangel/HOU/ECT@ECT cc: Kathryn Bussell/HOU/ECT@ECT, Lorie Belsha/HOU/ECT@ECT, Cherylene R Westbrook/HOU/ECT@ECT Subject: Re: Churn for Market Intelligence - Adam Plager Per Marcie's email below, Adam Plager and his group will be moving out of their current locations on 32 and will be moving to 25. I will follow-up with Marcie and make sure she knows there is space reserved for them on the 1/2/01 churn. Happy New Year! : ) Heather ---------------------- Forwarded by Heather Choate/HOU/ECT on 12/27/2000 09:51 AM --------------------------- Marcy Babb@ENRON 12/27/2000 09:22 AM To: Heather Choate/HOU/ECT@ECT cc: Subject: Re: Churn for Market Intelligence - Adam Plager Heather: Thanks for your message. I totally understand the circumstances. I have found space for Adam and his group on 25 and am in the process of moving him hopefully this week as your needs suggest. Marcy Babb -- Have a GREAT New Year! Heather Choate@ECT 12/21/2000 06:42 PM To: Marcy Babb/NA/Enron@Enron cc: Adam Plager/NA/Enron@Enron, Dan Luciano/NA/Enron@ENRON, Lorie Belsha/HOU/ECT@ECT, Peggy McCurley/HOU/ECT@ECT, Cherylene R Westbrook/HOU/ECT@ECT Subject: Churn for Market Intelligence - Adam Plager Marcy, Today, Adam Plager was asked to find a space off of the 32nd floor, effective Jan. 2, 2000. As I am sending you this email, we do not know where to move him. I have contacted Lorie Belsha who handles the majority of the floor planning and their are no spaces to move him. She advised that we look to find a space with his direct report Bryan Powell and asked me to contact Peggy McCurley, who then advised I talk to Cheri Westbrook. When talking to Cheri Westbrook, she indicated that you have some space allocated to you, but she was unsure if you have specific plans for them or if you would have (4) spaces for Adam, to accomodate his immediate need. I will be out of the office when you are back in on Wednesday, please advise Adam if there is any space available. I will call in to see if I can be of further assistance in this search. To help you expedite this process when you have come back (in hopes that you have space available for Adam), I have attached the churn request. You will need to fill in the areas that I left blank (i.e, titles for new hires, cost center, TO location). All the equipment to be moved has been entered on the churn. Additionally, when sending the request into the move-team, please say " This move request is for the (5) spaces reserved by Heather Choate for the January 2, 2001 churn". Regards, Heather Choate, x33278
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: "Ferranti, Bill" <[email protected]> 03/21/2001 04:41 PM 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]>, "Ferranti, Bill" <[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]>, "'[email protected]'" <[email protected]>, "Schoenbeck, Don" <[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]>, "Speer, Jack" <[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]>, "'[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]>, "Early, Michael" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "Forsyth, Pete" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "Murphy, Paul" <[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]>, "Bliven, Ray" <[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]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]> cc: Subject: WP-02 Data Response <<PN-DS-001-004.doc>> Attached is the response to PN-DS:001-004 and PN-AL:001-004. Bill Ferranti Murphy & Buchal LLP 503-227-1011 [email protected] - PN-DS-001-004.doc
Forwarding to you at the request of Christi Nicolay. ---------------------- Forwarded by Linda J Noske/HOU/ECT on 07/05/2001 09:58 AM --------------------------- From: Joe Connor@ENRON on 07/05/2001 09:12 AM To: Tom Chapman/HOU/ECT@ECT cc: Christi L Nicolay/HOU/ECT@ECT Subject: Re: Southern RTO Latest info on Southern for your meeting with Kean and Ed Holland today. ----- Forwarded by Joe Connor/NA/Enron on 07/05/2001 09:10 AM ----- James D Steffes 07/02/2001 04:20 PM To: Steven J Kean/NA/Enron@Enron cc: Richard Shapiro/NA/Enron@Enron, Joe Connor/NA/Enron@Enron Subject: Re: Southern RTO Steve -- If still ok, I think that we should try and establish the date for the Southern - Enron meeting per Joe's message below. It would be good to hear their viewpoints (just to know where they are coming from). Jim ---------------------- Forwarded by James D Steffes/NA/Enron on 07/02/2001 04:18 PM --------------------------- From: Joe Connor on 07/02/2001 10:43 AM To: James D Steffes/NA/Enron@Enron, Christi L Nicolay/HOU/ECT@ECT, Sarah Novosel/Corp/Enron@ENRON, Donna Fulton/Corp/Enron@ENRON cc: Subject: Re: Southern RTO I met with Andy Dearman and Bill Newman of Southern on Friday. They talked about what is going on with the non-jurisdictional utilities that have signed a MOU to develop a RTO. The group has met a couple of times to discuss the process they will use. Confidentiality agreements have been signed, so no details are available, but they have agreed to a voting structure for the development. Southern has about one third of the votes (and 65%of the assets) and it takes at least two other parties agreeing with Southern to carry a vote. Southern says they spent a lot of time convincing the other parties that Southern was not going to run, or dominate, the process. After that, Southern said the group started to pull together and get organized for the development. They said everyone in the group appeared to be ready to find ways to make the RTO work and resolve the hurdles the non-jurisdictional utilities have been expressing with the development of other RTOs. They said there were some rough spots that had to be resolved and they couldn't be sure agreement would be reached, but at this point there was a lot of cooperation. Andy and Bill wanted to convince me that this was not a delaying tactic by Southern and they were doing everything possible to ensure that a complete RTO filing could be ready by 12/15/01. They also said they thought this is what Ed Holland wanted to discuss with Steve Kean. We talked about how other stakeholders could have input to the development. They said that it was too early to make any commitment, but the group had started thinking about it and they expected an input process to be available by late summer. They said Southern was in favor of some process that would provide stakeholders the opportunity to look at what was being considered and advise the development group as early as possible. They said they understood the difficulty stakeholders had with the approach Southern used in its initial filing and wanted to do it different, but they pointed out again that Southern could not dictate the process that would be allowed by the group. In the meantime, they said if we wanted to provide position papers on any part of the RTO development they would make sure the papers were circulated in the group or we could continue to hold bilateral discussions with them or other members of the development group. Jim, I still think it would be worthwhile to have a meeting between Ed and Steve Kean, and I would include you and invite Andy and Bill to come. I don't think they want to discuss anything technical at this point; they just want to convince Enron that the approach Southern is taking provides the quickest development of a RTO for the Southern area, and they want any help we can give in convincing FERC to let this process run. I also think we need to pass on filing a response to Southern's May 15th status report, either alone or with Alabama Municipal Electric Authority ( Donna, I guess that's who you meant in the memo below, since AEC has signed a MOU with Southern?). I will get in touch with Bob Reilley to find out why we haven't heard from EPSA on its filing. I still think that's the best approach. Donna Fulton 06/28/2001 12:02 PM To: Joe Connor/NA/Enron@Enron, Tom Chapman/HOU/ECT@ECT cc: James D Steffes/NA/Enron@Enron, Christi L Nicolay/HOU/ECT@ECT, Sarah Novosel/Corp/Enron@ENRON Subject: Southern supplemental status report I am attaching the supplemental status report that Southern filed in its RT01-77 on June 20. They have included MOUs with Georgia Transmission Corp, Santee Cooper and Alabama Electric Coop to work on development of an RTO. These are really general, more of the same of what we've seen from Southern. Also we had talked about possible comments on the May 15 Southern filing; Coral was working on comments through EPSA. Nothing has been filed by EPSA yet. Alabama did file comments on the May 15 status report and they have asked that the FERC establish a technical conference to "publicly air and evaluate the alleged governance concerns and the concerns regarding significant delay..." Following a technical conference, they ask for a judge to convene a settlement conference at FERC to "undertake a properly supervised and serious development of an RTO for the SE without further wasted time." At this point we could consider filing comments in support of the Coop comments.
To get off the list, please send an e-mail to: [email protected] and in the subject line, please put "SIGNOFF RRGA-L" Thank you! - Sarah ----- Original Message ----- From: "Nickeson-Moore, Nikki" <[email protected]> To: <[email protected]> Sent: Tuesday, May 15, 2001 4:50 PM > Please remove my name from future mailings. Kimberly Harris of Puget Sound > Energy should be receiving all information relating to RTO. Thanks! > > > ---------- > > From: Dalia, Keith A - TOS-DITT1[SMTP:[email protected]] > > Reply To: RTO West Regional Representatives Group > > Sent: Tuesday, May 15, 2001 4:39 PM > > To: [email protected] > > > > You have been added to the RRGA-L mailing list (RTO West Congestion Model > > Content Group) by Keith Dalia <[email protected]>. > > > > Please save this message for future reference, especially if this is the > > first time you subscribe to an electronic mailing list. If you ever need > > to leave the list, you will find the necessary instructions below. > > Perhaps more importantly, saving a copy of this message (and of all > > future subscription notices from other mailing lists) in a special mail > > folder will give you instant access to the list of mailing lists that you > > are subscribed to. This may prove very useful the next time you go on > > vacation and need to leave the lists temporarily so as not to fill up > > your mailbox while you are away! You should also save the "welcome > > messages" from the list owners that you will occasionally receive after > > subscribing to a new list. > > > > To send a message to all the people currently subscribed to the list, > > just send mail to [email protected]. This is called "sending mail > > to the list", because you send mail to a single address and LISTSERV > > makes copies for all the people who have subscribed. This address > > ([email protected]) is also called the "list address". 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----- Forwarded by Rick Suderman/Bakersfield/Eott on 01/26/01 07:29 AM ----- David Roensch@ENRON To: Rick Suderman/Bakersfield/Eott@EOTT cc: 12/01/00 Subject: You have a great idea 01:34 PM Rick, I got to thinking about this again last night with regards to the effects towards Emissions and/or unit performance (air fuel ratio's etc....) So, I visited with a couple of folks today and we will need to cross some hurdles with regards to our customers. The air fuel ratio will change so dramitically from a 1000 btu to a 1200 btu (just to use numbers) that a sudden transition from one range to the other has and will probably initiate an overspeed or flameout situation on the customers units. Emmission levels will increase as the btu increases and depending on current permit levels this may or may not require additional permitting on the customers end. (I would think as long as we are in spec, the Emissions issue would still be the customers issue to deal with) To adjust fuel/air ratio's with some pre-warning (prior to overspeed or flameout) we may need to provide a signal from our gas chromatograph to the customers unit RTU or discuss the necessity of getting the customer to install their own chromatograph. These aren't any big hills to overcome (at least I wouldn't think they are) but, again, you may want to have some suggestions or answers to the questions before they are posed..... Moving on: "Never be afraid to try something new. Remember that amatuers built the ark. Professionals built the titanic." ---------------------- Forwarded by David Roensch/ET&S/Enron on 12/01/2000 02:12 PM --------------------------- Rick Suderman@EOTT on 11/28/2000 10:25:04 AM To: David Roensch/ET&S/Enron@ENRON cc: Subject: I have an idea ----- Forwarded by Rick Suderman/Bakersfield/Eott on 11/28/00 09:27 AM ----- Rick Suderman To: Rich Jolly/ET&S/Enron@ENRON 11/27/00 cc: 11:35 AM Subject: I have an idea Rich, I have an idea. It is a little far fetched, but could potentially make Enron 100MM in the first year so hear me out. At the regional meeting this month, I was interested in the discussions about the gas delivery's to the California border, and how the pipeline was running at capacity. When I heard the potential of dollars that could be made If we only had more capacity, I was shocked. This will hopefully be a way to increase your MMBTU delivery without major expense. Someone might have already looked at this, but if not, it might be worth the time. Although the pipeline is full of MCF's it has room if you look at BTU's. I received an analysis of the gas delivered to the border and found it was running at 1015 BTU, with less than %.5 C3+. With the SoCal limit of C3+ at %3, there is room to inject %2.5 C3+ and raise that BTU value. The Idea is to use rail cars to transport Normal Butane (or any other NGL that proves cost affective) to the California border, vaporize the liquid, and inject the vapor into the pipeline up-stream of the custody meter to SoCal Gas. I know there is rail access in the area, so this should not be an issue. We off-load the product, and vaporize it using heaters, or the more efficient way is to use waste heat from a turbine engine. We then compress the vapor and introduce it into the pipeline. My estimates are we can off-load up to 52 rail cars per day, vaporize the butane and compress the 50 MCF/day of gas to pipeline pressure. This will raise the C3+ number to approximately %2.75 just under the SoCal spec. The 52 rail cars of Butane will introduce another 160,000 MMBTU per day but only raise your volume by 50MMCF, hardly noticeable when you are at 2.2BCF. This idea will work at any facility along the pipeline system that is a large delivery. The C3+ that has the largest impact is Normal Butane due to is relatively low cost and high BTU value. I am not sure what the Butane market is in other areas, but we are selling Normal currently for .65c. /gal, and this is abnormally high for California. The value of Normal Butane used in the spreadsheet is .65c, the contract price currently used at the NCL plant. I assumed .05c per gallon for operating cost. This number is conservative as our operating cost at the NCL plant is .035c - .04c per gallon with full fractionation. This number includes fuel necessary for vaporizing the Butane, employees, etc. This operating cost number will drop dramatically if we are able to use waste heat from a turbine. Most of the cost is fuel necessary to run the heater. The price used for sales gas is what I am not sure about. The price of $8.50 /MMBTU is the number I have heard will hold for at least the next year at the Cal. border, and possibly go up. No one knows if this is sustainable for any length of time, but it is what I assumed for this spreadsheet. (Notice the profit if you enter the gas value currently traded at the Cal. border) Take a look at the spreadsheet and hopefully it will clarify where I came up with these numbers. All the BTU and MCF numbers for Normal Butane came from the GPA Standard 2145 and all other numbers are my best guess. If you find this an interesting idea, please forward to the appropriate people. I would love to discuss it further so let me know what you think. Rick (See attached file: NGLasBTU.xls) - NGLasBTU.xls
Dave, I still believe that the most flexible model that provides high ROCE and has growth not constrained by capital is the one being employed by Enron. I think the cash on cash returns on these Genco's in the short run will be good; however, I think it will be difficult for these companies to move quickly to react to market opportunities given their need to protect their long position (not unlike our friends in the oil & gas producing sector). The returns and value provided by these companies will be primarily be based on the timing of new production and their asset base and they will realize (on a relative basis) very little from the trading. It is not a bad model just a different one. Either way, they will be a strong bid for assets given their story to Wall Street. Regards Delainey ---------------------- Forwarded by David W Delainey/HOU/ECT on 08/14/2000 08:33 AM --------------------------- David Haug@ENRON_DEVELOPMENT 08/10/2000 10:17 PM To: Greg Whalley/HOU/ECT@ECT, David W Delainey/HOU/ECT@ECT cc: Subject: Assets and Trading What do you guys think of the conclusion here re the need for large asset portfolios? - - -DLH ---------------------- Forwarded by David Haug/ENRON_DEVELOPMENT on 08/10/2000 10:14 PM --------------------------- Shawn Cumberland 08/10/2000 11:41 AM To: David Haug/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT cc: Subject: Assets and Trading David: This is a very intersting article for you to consider when the management considers what businesses Newco should include. This article suggests that a combination of physical assets and trading are best. That may be true for US and Europe markets, but maybe not for lesser developed countries. Shawn Analyst: Koch Venture Adds Value To Entergy-FPL Merger By Bryan Lee 08/10/2000 Dow Jones Energy Service (Copyright (c) 2000, Dow Jones & Company, Inc.) OF DOW JONES NEWSWIRES WASHINGTON -(Dow Jones)- The trading venture between Entergy Corp. (ETR) and Koch Industries will get a big boost from the utility's planned merger with FPL Group (FPL), marrying trading floor expertise with a commanding array of power plant assets. So says Diane Borska, director of the utilities and energy practice at Cambridge, Mass.-based Fuld Inc., a consulting firm specializing in "competitive intelligence." In April, Entergy and Koch formed a joint venture to trade electricity and natural gas. The Koch joint venture is "the real killer thing about this merger," Borska said in an interview, in which she elaborated on her observations in a "white paper" analyzing the Entergy-FPL transaction. Once completed, the merger will put the combined company at the vanguard of competitive energy companies seeking convergence between physical assets and trading floor and risk management expertise, Borska said. Many companies are strong in trading floor and risk management expertise, but lack physical assets they can leverage in competitive electricity markets, Borska observed. On the other hand, utilities are rich in physical assets, but lack trading floor expertise, she said. In the past, "the people who have excelled have not necessarily had physical assets," Borska said. But in the future, "the people who are going to dominate are going to have both huge national asset portfolios and top-tier trading and risk management expertise," she said. "It's not going to one or the other." Koch has been in the top 20 in terms of trading energy. But adding the tremendous portfolio of power plant assets involved in the Entergy-FPL merger will undoubtedly bump Koch's trading into the top 10 or top five, Borska predicted. The stock transaction valued at $7 billion will bring together 48,000 megawatts of power generation capacity, creating the nation's largest electric utility company with 6.3 million customers. Included in that staggering generation portfolio are 10,000 megawatts of so-called "merchant" power plants, which solely sell wholesale energy into competitive bulk-power markets, rather than serve a retail customer base. These competitive-market merchant plants are geographically dispersed in a complementary way, distributed among five regional power market hubs in the Northeast and mid-Atlantic, Southeast, Midwest, Gulf South and Western states, Borska noted. The two companies' existing development pipeline would triple the existing 10,000 megawatts merchant generating capacity, and plans call for growing the business into a 70,000-megawatt merchant-plant portfolio, Borska noted. "Additions to the fleet will come from additional nuclear power plant acquisitions and from green-field development of gas-fired plants," Borska noted in her white paper analysis of the transaction. The companies will be able to piggy-back onto Koch's 10,000-mile network of pipelines to supply their planned gas-fired power plant additions, Borska noted. The merger, when combined with the access to gas supply and trading-floor expertise of Koch, should cause investors to re-examine the higher valuations given pure-play generation companies compared to generation-rich combination companies, Borska said. AES Corp. (AES) and Calpine Corp. (CPN) have huge market valuations, but aren't known for engaging in "large, deep trading," she said. "Their ability to fully leverage their assets in the marketplace has been limited," Borska said. The Entergy merger with FPL, when considered in light of the Koch joint venture, "raises the bar for a Calpine or an AES" to gain the capability to leverage their significant physical assets, Borska said. Other energy companies, such as Dynegy (DYN) and Duke Energy (DUK), marry significant generation assets with trading floor sophistication, Borska conceded. But they aren't on the same scale or geographic scope as the Entergy-FPL-Koch combination, she said. -By Bryan Lee, Dow Jones Newswires; 202-862-6647; [email protected]
---------------------- Forwarded by David M Gagliardi/TTG/HouInd on 09/12/2000 08:34 AM --------------------------- "Michael Gagliardi" <[email protected]> on 09/12/2000 07:13:02 AM To: [email protected], [email protected], [email protected] cc: Subject: True Orange Fax/E-Mail #86 ---------------------- Forwarded by Michael Gagliardi/Hou-ComOps/EnergyTrading/PEC on 09/12/2000 07:21 AM --------------------------- [email protected] on 09/11/2000 09:16:39 PM To: [email protected] cc: (bcc: Michael Gagliardi/Hou-ComOps/EnergyTrading/PEC) Subject: True Orange Fax/E-Mail #86 True Orange Fax/E-Mail Service Volume 8, Fax/E-Mail #86, Monday, September 11, 2000 Jerry Scarbrough's True Orange, P. O. Box 26530, Austin, Texas 78755 - Phone 512-795-8536 Horns Favored by 13; UT-Houston Game Set for 6 P.M. on Fox TV The Longhorns are a 13-point favorite over Stanford for their 9:15 p.m. (Texas time) game Saturday night in Palo Alto. The game will be televised by the Fox Network. The Texas-Houston game in Austin Sept. 23 has been set for a 6 p.m. kickoff and also will be televised by the Fox Network. Coach Mack Brown said he is always happy when the Longhorns are on television. "Our game last week was televised to 27 million people, and the game Saturday at Stanford will be televised to areas with 48 million people. That's a lot of homes, from a recruiting standpoint," he said. * * * * Brown said he was pleased with the season-opening 52-10 victory over Louisiana-Lafayette Saturday, but he also said the Horns need to work to improve. "If we don't play better at Stanford than we did Saturday, we'll get beat," he said. "We have a lot of work to do this week," he said. "We still have got to work a lot on our running game. Our line was very physical in its pass blocking. We didn't give up a sack and we had great pass protection. We've just got to be more physical in our run blocking and our backs have to fight for the extra yards." He also said he was concerned because Louisiana-Lafayette hit some long passes, "and that's Stanford's game. Stanford will beat us to death if we don't stop the long ball." "Stanford is averaging 494 yards offensively in two ball games," he said. "Their quarterback, Randy Fasani, is No. 1 in into offense in the Pac 10 and his No. 6 nationally. They throw the ball down field. We will get tested deep in a hurry." Brown said Stanford starts eight seniors on defense, and he said OLB Riall Johnson, 6-3, 240, "led the Pac 10 in sacks last year with 13." He also said DT Willie Howard, 6-4, 298, "is a pre-season All-Pac-10 selection. Both of them are really good. They will be about as good as anybody we play." He also noted that Stanford is a fast-starting team. "They've scored 51 points, and 45 of them were in the first half," he said. "We'd better be ready to play from the opening kickoff." Brown said the freshmen wide receivers deserve all the accolades they are getting, but he also said some other young players had good games Saturday. He said sophomore Cole Pittman and true freshman Kalen Thornton both "played very strong games" at defensive end. He also praised senior RB Hodges Mitchell and said he was outstanding in pass blocking for the UT quarterbacks. He continued promoting the idea that Texas has two first-team quarterbacks, but there is little doubt that Major Applewhite's outstanding game in relief of Chris Simms will have him taking the first snap at Palo Alto. Brown said there were no injuries in the Louisiana-Lafayette game. * * * * RECRUITING NOTES: DE Eric Hall, 6-3, 232, 4-5, of Clarksville, Tenn., took his official visit to Texas last weekend and said he really enjoyed it. He said Texas is his favorite right now, but said he wants to take some other visits before committing to anyone. . .DE Kaelen Jakes, 6-4, 260, 4.8, of Valencia HS in Placentia, Cal., says he is trying to set up an official visit to Texas for the Sept. 23 weekend. Jakes is playing nose guard this year and he said he had two sacks and several other tackles for losses in Valencia's opening 24-0 victory over Palmdale Highland. He said Highland is supposed to have a playoff-caliber team "and we really shut them down." Jakes lived in Plano when he was in junior high and he said he is strongly considering coming to UT. "I really like the way football is king in Texas," he said. . . OL William Winston of Houston Madison said he also plans to come to Austin for the Houston game, but that will be an unofficial visit. He said he is considering so many schools that he probably will use his five official visits to look at out-of-state schools like UCLA, Tennessee, Miami, Wisconsin and LSU, and will take unofficial visits to Texas and Texas A&M. * * * * IMPORTANT NOTICE: I won't have any more faxes this week because I am heading to California early to scout some of the players Texas is recruiting out there and I won't be back until after the Stanford game. My next fax probably will be next Monday, Sept. 18. * * * * 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]
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
Thanks for your comments on the standards. Our approach in creating a global exception reporting mechanism is to start simply and build from there. Our initial cut is to have effective exception reporting on a handful of critical standards by the end of this year. That will be a first, to on a daily basis have a view into the exceptions outside the global standards. Many of the measurements that you mention are great management tools for accessing the level of excellence of the services that we are delivering and the competence of those that are managing these services. Some of these may be more appropriately contained in a monthly operations report that I have instituted within ENA and which we are working to proliferate across all of the wholesale merchant services companies. Give me a call and we can set a time to get together for a few minutes and I can review this operating report with you. We spent some time at our offsite in late October with all operations controllers reviewing and discussing these standards. Shona has taken a stab at the format of these exception reports. It is likely that we will have a rep from each of the operating companies participate in the final design of these reports, so that all feel as if they own the intended output from these reports. Yes, we are gleaning this information from those that are responsible for these activities. My purpose is not to use this info to punish or prosecute, but instead to use this exception report as a tool to garner resources as needed to clear the exceptions. It is invariably the deals that are exceptions in some way that create the problems. For instance, small power deals that were done in Calgary before they had a power book set up. These were "on the side" and not captured in total power exposure because they didn't have a book to put them in (a discovery during the doorstep review). If this goes on the exception report, then we can highjack someone in risk in Houston to help Calgary set up a new book, or get IT resources focused quickly on any solution that may require their input to fix. By having a prescribed elevation of these exceptions, we should get the appropriate attention to correct them. The spur for making sure that all exceptions are appropriately noted, will be that if there is a problem with any deal that was an exception (not in the books, no confirm, etc.) and was not included on the exception report, that this will be grounds for termination for the appropriate operations controller. I will make sure that as we start this reporting process that this is well understood. The other impetus will be that during doorstep reviews the operational activities will be gauged against these standards. The AA internal audits should also access adherence to these. From: David Port @ ENRON 11/10/2000 01:46 PM To: Shona Wilson/NA/Enron@Enron cc: Sally Beck/HOU/ECT@ECT, Ted Murphy/HOU/ECT@ECT Subject: Fundamental Operating Standards This is the first time I have seen these - have they been rolled out ? I would be interested to see the format of the exception reporting that attaches to these standards that you mentioned - did you have anything particular in mind ? I had a few of my own ideas for some diagnostic measures of the extent to which these standards are being adhered to - see what you think: Transactions are recorded accurately and timely (completeness, accuracy) Daily report of "holdovers" by commodity group (trades not booked in time for daily cut - off, including counterparty, volume, price etc) Report of P&L effect of booking errors as they transpire, including responsibility Daily Management P&L and Position reporting is accurate and timely (completeness, accuracy) Periodic qualitative review by RAC (i.e. Is it sufficient by reference to the Risk Management Policy - does it show delta gamma vega as a term structure etc....) NB: the point about "Reports issued on next day of trading at a commercially pre-determined time" conflicts with the Risk Managemet Policy, which says "...before any subsequent trading ocurrs". I think the diagnostic measure should be, for each commodity DPR a report daily of all those signed off as final (note I do not neccessarily mean "officialized") after the relevant market opening time (usuaully 7.30 am) Timely confirmation and execution of transactions (completeness, accuracy, existence) Monthly report of all unmatched confirmations: - outstanding inward confirmations (i.e. sent out, not signed) - outstanding outward confirmations (i.e deal done, confirm not sent) - outstanding mismatched or disputed confirmations showing deal trade date, start date, commodity, counterparty, MTM value, aged Settlements with counterparties occurs accurately and timely (non CACS, non Dashed deals) Monthly report of cumulative amounts of all unmatched or unapplied cash: Unapplied cash by counterparty, in original denomination, including deal reference if any Unmatched amounts by deal, where settled amount differs from maturing forward MTM value One additional thing that ocurred to me was the fact that those responsible for supplying the information are also those responsible for the operation underlying it in some sense, so the obvious pitfalls of self - assessment will come into play here. Perhaps the "pilot" report should be put together somehow independently. Views ? DP
Steve: FYI. Don't worry about the conference call, but thought it might be useful to review the proposals prior to Monday's meeting. See you Monday. Happy Thanksgiving to all. Best, Jeff **************************************************************************** ************************************ Several IEP companies have been invited to a meeting with the Governor,s staff next Monday, November 27th. The following are some options, which the Governor,s office is considering. IEP is doing some preliminary research on some of these topics. IEP would like to arrange a teleconference call around noon on Monday, November 27th to discuss the Governor,s meeting. Please advise us as to whether your have been invited, and who you are sending. California,s electricity supply situation has two inter-related problems ) (1) high wholesale electricity costs, and (2) marginally adequate supply of generation ) both have combined to create a dysfunctional wholesale electricity market. The goals should be: To assure reliable electricity to California consumers for the lowest reasonable cost. o Consider requiring that all in-state generation be sold in state. o Consider re-asserting state authority over the operation, maintenance and safety practices of all in-state generating facilities, for public health and safety purposes. o Consider developing a state power authority to build generation and own/operate transmission. o Consider requiring utilities both to retain existing and to build new generation. o Consider providing utilities with authority to stabilize retail prices to be paid by consumers through development of an energy portfolio that reduces exposure to spot markets, including contracting forward for much more of their unmet power needs. o Consider extending consumer rate freeze. o Consider centralizing power plant dispatch like the other ISOs in the rest of the country. o Consider eliminating the ISO and assigning its functions to either a state or private entity that can acquire the transmission facilities, and control the electricity transmission grid (MUNIs have proposed this). o Consider sponsoring/supporting legislation to change the ISO and PX boards to increase accountability. o Expand energy conservation programs focused both on immediate peak demand reduction and on longer term, broader-based programs. o Aggressively work to site new generation and transmission facilities, to streamline permitting, and to develop renewable resources. o Call for/sponsor federal FERC reform legislation that would: o Impose a regional price cap that varies by time of day and year; o Set requirements for FERC to use its retroactive refund authority; o Improve FERC enforcement over price gouging practices; o Affirm the role of states to protect their customers from unjust prices. o Pressure the FERC to do its job to (1) bring about responsible seller behavior in wholesale electric markets through price controls and other market interventions as necessary, and (2) provide refunds to affected consumers. ----- Forwarded by Jeff Dasovich/NA/Enron on 11/22/2000 03:44 PM ----- Susan J Mara 11/22/2000 03:05 PM To: "CHUDSON" <[email protected]> cc: "Andy Brown $E-mail$" <[email protected]>, [email protected], "Curtis Kebler $E-mail$" <[email protected]>, "Delaney Hunter $E-mail$" <[email protected]>, "Greg Blue $E-mail$" <[email protected]>, "Jack Pigott $E-mail$" <[email protected]>, "Jeff Dasovich $E-mail$" <[email protected]>, "Joe Ronan $E-mail$" <[email protected]>, "John Stout $E-mail$" <[email protected]>, [email protected], "Katie Kaplan $E-mail$" <[email protected]>, [email protected], "Kelly Norton $E-mail$" <[email protected]>, "Lynn Lednicky $E-mail$" <[email protected]>, [email protected], [email protected], "Bob Weisenmiller $E-mail$" <[email protected]>, "Bob Escalante $E-mail$" <[email protected]>, "Rob Lamkin $E-mail$" <[email protected]>, "Jan Smutny-Jones $E-mail$" <[email protected]>, "Steven Kelly $E-mail$" <[email protected]>, "Susan J Mara $E-mail$" <[email protected]>, "McNally Temple Assn. Inc. $Business Fax$"@mail.cwo.com Subject: Re: Jeff Dasovich and Steve Kean are attending. Someone can be on a call -- me if no one else -- if Jeff and Steve are travelling at the time. Hey, does the Governor have to fly coach? "CHUDSON" <[email protected]> 11/22/2000 12:47 PM To: "Katie Kaplan $E-mail$" <[email protected]>, "Jeff Dasovich $E-mail$" <[email protected]>, "Kelly Norton $E-mail$" <[email protected]>, "John Stout $E-mail$" <[email protected]>, "Curtis Kebler $E-mail$" <[email protected]>, "Rob Lamkin $E-mail$" <[email protected]>, "Bob Weisenmiller $E-mail$" <[email protected]>, "Susan J Mara $E-mail$" <[email protected]>, "Andy Brown $E-mail$" <[email protected]>, "Bob Escalante $E-mail$" <[email protected]>, "Greg Blue $E-mail$" <[email protected]>, "Jack Pigott $E-mail$" <[email protected]>, "Jan Smutny-Jones $E-mail$" <[email protected]>, "Joe Ronan $E-mail$" <[email protected]>, "Lynn Lednicky $E-mail$" <[email protected]>, "McNally Temple Assn. Inc. $Business Fax$"@mail.cwo.com, "Steven Kelly $E-mail$" <[email protected]>, "Susan J Mara $E-mail$" <[email protected]>, <[email protected]>, <[email protected]>, "Delaney Hunter $E-mail$" <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]> cc: Subject: Jan Smutny-Jones, Exec Dir Independent Energy Producers Assn. 1112 I Street, Suite 380 Sacramento, CA 95814 PH: 916-448-9499 FX: 916-448-0182 [email protected] - Govs meeting Conf Call.doc
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I would do this: My suggestion would be to seek an opinion from Glendale's outside financing counsel. That should give you a clear signal whether outside counsel with independent skin in the game is willing to back the City's opinion -----Original Message----- From: Shackleton, Sara Sent: Monday, September 24, 2001 8:23 AM To: Yoder, Christian Subject: FW: California counsel Christian: What do you think about Pat's response? Sara -----Original Message----- From: Shackleton, Sara Sent: Wednesday, September 19, 2001 9:00 AM To: Yoder, Christian Cc: Taylor, Mark E (Legal) Subject: FW: California counsel Christian: What do you think about Pat's response? Sara -----Original Message----- From: "Boylston, Pat" <[email protected]>@ENRON [mailto:IMCEANOTES-+22Boylston+2C+20Pat+22+20+3CPGBOYLSTON+40stoel+2Ecom+3E+40ENRON@ENRON.com] Sent: Tuesday, September 18, 2001 7:16 PM To: Shackleton, Sara Subject: RE: California counsel I apologize for not getting back to you, Sara. Things have gone a little nuts here, as I am sure they have in Houston. My basic question about whether I am the right guy for you is: Do you really want to sue this firm if things turn bad? Wouldn't you rather turn on a firm which doesn't have an ongoing relationship with Enron? In other words, what good is an outside opinion to you really if its contradicts the in-house opinion your receive. What good is it if it just confirms the in-house opinion but is wrong. My suggestion would be to seek an opinion from Glendale's outside financing counsel. That should give you a clear signal whether outside counsel with independent skin in the game is willing to back the City's opinion. Sorry I am not being more help on this. Let me know if there is more to talk about. -----Original Message----- From: Shackleton, Sara [mailto:[email protected]] Sent: Tuesday, September 18, 2001 4:31 PM To: Boylston, Pat Subject: FW: California counsel Pat: I never received a response from you. Are you the lawyer available to assist me in this matter? Thanks. Sara Sara Shackleton Enron Wholesale Services 1400 Smith Street, EB3801a Houston, TX 77002 Ph: (713) 853-5620 Fax: (713) 646-3490 > -----Original Message----- > From: Shackleton, Sara > Sent: Monday, September 10, 2001 1:35 PM > To: '"Boylston, Pat" <[email protected]>@ENRON' > Subject: RE: California counsel > > Pat: > > I am accepting an inhouse opinion from the City of Glendale. However, > I would like for Enron North America Corp. ("ENA", the swap > counterparty to Glendale) to engage independent counsel for its own > benefit. The opinion would be given to ENA. If you're the guy, > please call me. Thanks. > > Sara Shackleton > Enron Wholesale Services > 1400 Smith Street, EB3801a > Houston, TX 77002 > Ph: (713) 853-5620 > Fax: (713) 646-3490 > > > -----Original Message----- > From: "Boylston, Pat" <[email protected]>@ENRON > [mailto:IMCEANOTES-+22Boylston+2C+20Pat+22+20+3CPGBOYLSTON+40stoel+2Ec > [email protected]] > Sent: Monday, September 10, 2001 12:46 PM > To: Yoder, Christian; Shackleton, Sara > Cc: Hall, Steve C. (Legal) > Subject: RE: California counsel > > Read the message. I think we can help. My question is, who is this > opinion going to be given on behalf of. If it is from the City of > Glendale to Enron, the logical firm to give it is Glendale's "bond > counsel" since that is the outside law firm which 1) knows municipal > finance, 2) has an existing relationship with the City and 3) isn't > going to get into conflicts issues (which we probably would if we were > going to deliver an opinion on behalf of Glendale to Enron). > > We think the Jones, Hall firm in San Francisco may be bond counsel to > Glendale, but perhaps not. Let me know how we can help. > > -----Original Message----- > From: Yoder, Christian [mailto:[email protected]] > Sent: Monday, September 10, 2001 9:37 AM > To: Shackleton, Sara > Cc: Boylston, Pat; Hall, Steve C. (Legal) > Subject: RE: California counsel > > > I would first talk to Pat Boylston at Stoel Rives 503-294-9116. Stoel > Rives has recently opened a San Francisco office and Pat, who will > know > about 90% of the stuff to give the opinion, can probably find a > California attorney from their office to finish it off. ----cgy > > > -----Original Message----- > > From: Shackleton, Sara > > Sent: Monday, September 10, 2001 9:25 AM > > To: Sager, Elizabeth; Yoder, Christian > > Subject: California counsel > > > > I need outside counsel to render an opinion as to the authority of > the > > City of Glendale to enter into financial swaps. Do you have a > > recommendation? > > > > Thanks for your help. > > > > Sara Shackleton > > Enron Wholesale Services > > 1400 Smith Street, EB3801a > > Houston, TX 77002 > > Ph: (713) 853-5620 > > Fax: (713) 646-3490 > > > > > ******************************************************************** > 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. > ********************************************************************
Content-Transfer-Encoding: quoted-printable Date: Thu, 22 Mar 2001 09:44:04 -0600 From: "Tracey Bradley" <[email protected]> To: "Paul Fox" <[email protected]> Cc: "Aryeh Fishman" <[email protected]>, "Andrea Settanni" <[email protected]>, "Deanna King" <[email protected]>, "Jeffrey Watkiss" <[email protected]>, "Justin Long" <[email protected]>, "Kimberly Curry" <[email protected]>, "Ronald Carroll" <[email protected]> Subject: Another Story About the ISO Report on Overcharging Mime-Version: 1.0 Content-Type: text/plain; charset=US-ASCII Content-Disposition: inline Apparently the ISO gave the LA Times a copy of the study being filed with FERC today. The LA Times published it. Thursday March 22 6:05 AM ET Report: Calif Overcharged for Power By DON THOMPSON, Associated Press Writer SACRAMENTO, Calif. (AP) - Electricity wholesalers overcharged California $5.5 billion over the past 10 months, according to a report by managers of the state's power grid. The five companies, among other things, frequently offered electricity at prices double what it cost them to produce, concludes the California Independent System Operator (news - web sites) study, which was published Thursday in the Los Angeles Times. ``All overcharged, but some excessively and some by moderate amounts,'' said Anjali Sheffrin, the ISO's director of market analysis. The Times said the ISO planned to file the study with federal regulators Thursday and are demanding that the money be paid back. The companies denied the allegations, adding they expect the Federal Energy Regulatory Commission (news - web sites) will determine their prices were justified. The commission has recently stepped up its scrutiny of power companies' behavior during California's power crisis, asking suppliers to justify $124 million in sales during the first two months of the year or refund the money. Critics claim thousands of additional questionable sales are not being challenged. The ISO study alleges the wholesalers manipulated the market by bidding at excessive prices, effectively withholding supplies, or by not bidding at all when they had generation capability available. California has been spending about $45 million a day - $4.2 billion since January - to purchase power for Pacific Gas and Electric Co. (news - web sites) and Southern California Edison (news - web sites). Both utilities, the state's largest, have been cut off by electricity wholesalers because their credit is almost worthless. State Controller Kathleen Connell said Wednesday that the state's power-buying is gutting its budget surplus. Since the state started making emergency power buys, the surplus has fallen from $8.5 billion to about $3.2 billion, she said. A federal judge issued a preliminary injunction Wednesday ordering a major electricity wholesaler, Reliant Energy Services, to continue selling to California despite its fear that it will not be paid. U.S. District Judge Frank C. Damrell Jr. said Californians were at risk of irreparable harm if Reliant stopped selling power to the ISO, which buys it at the last minute on behalf of utilities to bolster supplies and try to fend off rolling blackouts. Such blackouts hit the state twice this week. On Wednesday, cooling temperatures and the completion of repairs at several power plants allowed the state to avoid blackouts. Standard & Poor's has put the state on a credit watch due to its power purchases and chastised Gov. Gray Davis (news - web sites), the Legislature and state regulators for not taking more aggressive steps to make sure the utilities can pay their bills. Edison and PG&E say they are nearly $14 billion in debt due to soaring wholesale power costs. The state's deregulation law blocks them from recovering the costs from customers. Connell ordered an audit of the state's power-buying, saying Davis is withholding key financial information from her office and the Legislature. She said she would refuse to transfer $5.6 billion into a ``rainy day fund'' she said was set up to impress Wall Street as the state prepares to issue $10 billion in revenue bonds to cover its power buys. Transferring the money would leave the state general fund $2.4 billion in debt, Connell said. She called the scope of the proposed transfer unprecedented and said it amounted to a ``shell game'' that disguises the power purchases' effect on the state budget. Sandy Harrison, spokesman for the state Department of Finance, and Keely Bosler, of the Legislative Analyst's Office, said such transfers are routine and required by law. They put the state's budget surplus at $5.6 billion. ``The law says she has to do it. The law does not give her the power to demand that kind of audit information,'' Harrison said. Harrison said the state's budget isn't in danger because it will be repaid with the revenue bonds. Connell's criticism of Davis, a fellow Democrat, won support from Assembly Republicans and Secretary of State Bill Jones, a Republican who may challenge Davis next year. Jones said he wants to announce his own plan to solve the state's energy woes, but can't unless Davis releases more financial details. Davis spokesman Steve Maviglio dismissed the criticism. ``Political grandstanding doesn't generate one more kilowatt of energy for California in this time of emergency,'' he said. Maviglio said the administration has released the financial information it can without jeopardizing negotiations for long-term power contracts with wholesalers.
Holiday Shopping Support The Rise School of Houston while you do your holiday shopping! Participating stores in the Center at for Rise School! Post Oak, 5000 Westheimer (across from the Galleria), are donating a percentage of their sales on Saturday, November 18 to The Rise School. No cards to buy, all you need to do is shop! Stores include BB1 Classic, Iloff Jewelers, Nature's Way Day Spa and Salon, Sport Clips All Star Haircuts and more - look for posters in participating stores. For more information about Rise, check out www.riseschool.com. Houston Symphony Enjoy the 4th Annual Singles Bash with the Houston Symphony on Monday, November 20 from 6:00 p.m.-7:00 p.m. Singles Mixer! at Sambuca Jazz Cafe! This pre-concert party offers complimentary hors d'oeuvres, live jazz quartet Blue Monks, door prizes and more, and is a prelude to the Houston Symphony concert at 8:00 p.m. featuring the legendary violinist Midori! Tickets are $35 and include the mixer and concert ticket, and pre-paid reservations are required. Don't miss out on this fun mixer - call 713-238-1477. Classical Music Subscribe to the 2000-2001 Houston Symphony Casual Classics season, where hosts and artists provide the audience Happy Hours! with muscial examples and insights into the world of music before each spectacular performance. Enjoy pre-concert Happy Hours featuring the Blue Monks jazz quartet as well as select opportunities to mingle backstage with guest artists if you purchase the ticket package. To find out more about program dates and highlights, visit www.houstonsymphony.org or call 713-224-7575 to subscribe. Nutcracker Come shop and support the talented Houston Ballet! The Houston Ballet Guild's 20th Annual Nutcracker Market will Market be held at the Astrohall Novemeber 9-12. Merchants from around the country will showcase row after row of gifts for your early holiday shopping, so beat the crowd and join in on the Early Bird Power Shopping on Saturday, November 11 from 8:00 a.m. to 10:00 a.m. Tickets are $25 dollars each and parking is complimentary. For ticket information call 713-535-3231 or email [email protected]. Chinese Paintings Are you an art lover? Come to the Continental Center I Gallery (Continental Building, 1600 Smith, 2nd floor) and enjoy Show Chengyi Li, an artist from China, and his selection of personal works of Chinese art. The exhibit will run from October 30 to December 1. Enron employees receive a 10% discount on the artist's works. For more information, contact Maggie Li at ext. 56011 or click here for a preview! Flood Relief in Massive floods in recent weeks have devastated much of the Mekong Delta in Vietnam, and as much help as possible Vietnam is needed to help the millions of victims driven out by the natural disaster. Thousands of people have died and the main food source, rice, has been destroyed. Homes and crops are not expected to recover until well after next year. Food, water, and shelter are all in extremely short supply. Every bit of help can make a huge difference! For information on how to support this important cause, contact Thu Pham Arnold at ext. 55125. Donations to the flood relief can be made to: VCSA Flood Relief Vietnamese Culture & Science Association P.O. Box 741301 Houston, TX 77247 Enron will match your generous contribution dollar for dollar. See http://home.enron.com/cr/envolved/ Museum of Fine Arts You are invited to the Museum of Fine Arts Corporate Partner Holiday Party on December 12 from 7:00 p.m. Holiday Party to 9:00 p.m, but volunteers are needed to help with fun and exciting preparations! The party is free for all corporate partner company employees and their families. In addition to face-painting, escorting guests, and numerous activities on the night of the party, fun volunteer opportunities include: Invitation Stuffing Activity - November 9 5:30 p.m.- 7:30 p.m. Craft Preparation Activity - November 14 5:30 p.m.- 7:30 p.m. Contact India Kerr-Perkinson at 713-639-7570 for more information and or click here to print out the volunteer form. Enron Kids Holiday Come participate with Enron Kids, a program that helps provide books and equipment for schools in need. Sponsor a Fun student or team up with co-workers or your department to provide a bag full of holiday cheer to an HISD Burrus Elementary student! A shopping committee can shop for you if your schedule does not give you the time. Sign-ups are: November 14, 16, 17: 11:00 a.m. - 1:00 p.m. in the Enron Building lobby November 15: 11:00 a.m. - 1:00 p.m. in 3AC 601 November 15: 11:00 a.m. - 1:00 p.m. in Jefferson Bldg. Ground Floor Conference Room Gift drop-offs will be on December 4-8, and the holiday party for Enron Kids will be at Burrus Elementary on Thursday, December 14, with transportation available to sponsors. For more information, contact Geneva Davis at ext. 35517 or Leslie Campbell at ext. 35983. Mammograms M.D. Anderson will be here November 13-17 to administer mammograms. Call 713-745-4000 to Available schedule an appointment. Cost is $15 for employees, spouses, retirees and EDS; $16 if donating to The Rose (an organization that provides free mammograms for low-income women); $75 for contractors. The 2nd Annual Enron Dog Day Afternoon 'Howloween Party' hosted over 100 lovable canines and raised approximately $2,500 for organizations such as Great Beginnings, Golden Retreiver Rescue, Harris County Animal Control, and Canines In Action!
Platts Energy Bulletin Welcome to Platts Energy Bulletin, 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. For Platts Premium customers go to www.einsight.com (http://www.einsight.com) to pick up your Platts Energy Insight subscription. Your password and login remain the same. If you no longer wish to receive this email, instructions for unsubscribing can be found at the bottom of each issue. We welcome your feedback - send comments to [email protected] Feb 1, 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) E-commerce Update - Jan 2002: Latest energy e-commerce news. (http://www.platts.com/ecommerce/index.shtml) DOE to propose Yucca Mtn: US Energy Secretary Spencer Abraham made known Jan 10 what had to be the worst-kept secret in the history of the nuclear industry: Yucca Mountain will be recommended to President George W. Bush as the permanent warehouse for the United State's radioactive castoffs beginning in 2010. (http://www.platts.com/features/nukewastedisposal/) Upcoming Events Grid Business - The Midwest Region: An Electrical World Roundtable in cooperation with R. J. Rudden Associates and the United States Energy Association. March 21-22, 2002 St. Louis, Missouri. (http://www.platts.com/gridbusiness/index.html) Futures Round-up NYMEX: Crude to open lower despite Kuwaiti blast NYMEX March crude oil is called to open 15 cts lower at $19.33/bbl. March Brent is called to open 18 cts lower at $19.00/bbl. March heating oil is called to open 6 pts lower at 52.80 cts/gal and March unleaded gasoline is called to open 42 pts lower at 57.00 cts/gal. IPE Brent Focus: IPE Brent falls after initial 'knee jerk' move higher Front-month March peaked at $19.45/bbl early on, before slipping lower to trade at $19.11/bbl at 1104 GMT, 7 cts shy of the previous day's close at $19.18/bbl. April futures had shed 9 cts to trade at $19.32/bbl 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. ENERGY INSIGHT : A closer look at the Enron debacle There are questions to be answered on many aspects of the Enron crash, from political connections to corporate governance and professional accountability. But probably the biggest mystery concerning this largest US bankruptcy of all time is simply how it could have happened. (http://www.einsight.com) OIL: Philippines new oil players wage war on illegal dealers There is a growing body of illegal dealers underselling refined oil products in the Philippines, according to a report by the country's New Petroleum Players Association. (http://www.platts.com/archives.shtml#58448) NATURAL GAS: Conoco consolidates Canadian gas marketing unit Conoco Canada said Thursday it was consolidating its entire Canadian natural gas marketing services under one umbrella in the company's gas and power marketing division, effective Friday. (http://www.platts.com/archives.shtml#58431) PETROCHEMICALS: Lyondell to acquire Oxy's 29.5% stake in Equistar Lyondell Chemical Co announced Thursday that it had agreed in principle with Occidental Petroleum Corp to acquire Occidental's 29.5% share of Equistar Chemicals LP. (http://www.platts.com/archives.shtml#58412) 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) ELECTRIC POWER: Barclays Capital hires Enron staff, expands commodities Barclays Capital is to expand its global commodities activities and has hired two professionals from Enron Europe, the investment banking division of the Barclays group, said. (http://www.platts.com/archives.shtml#58458) NUCLEAR: Non-regulated plants boost Entergy earnings Entergy Corp said its non-regulated nuclear plants' performance boosted 2001 earnings, which were higher than the record results of 2000. (http://www.platts.com/archives.shtml#58428) COAL: ExxonMobil sells coal firm to international consortium ExxonMobil late Thursday said it had agreed to sell its coal company International Colombia Resources Corp or Intercor to a consortium of Anglo American, BHP Billiton, and Glencore International. (http://www.platts.com/archives.shtml#58441) To see the past five day's headlines posted on platts.com go to Platts archives (http://www.platts.com/archives.shtml) Want more information on Platts products? Browse the Platts Infostore at http://www.platts.com/mhe_infostore/cgi-bin/infostore. You can also email Platts sales team at [email protected] or check for the details of your nearest sales representative in our list of Platts offices at http://www.platts.com/about/offices.shtml. For information on how to advertise on the Platts Energy Bulletin or on platts.com contact [email protected]. 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Sally, Thanks for the e-mail regarding summer interns. I apologize that Lexi and Shelly were unable to provide you with the answers you were seeking. I wish that you had contacted either Celeste or me to indicate that you were having difficulty. I have personally assured you on several occasions that I was available to either speak with you or meet with you if for some reason any member of my staff was not responsive. That being said please allow me to explain the recruiting strategy since I was instrumental in helping to set it. You are absolutely correct. It is great to do market research if time permits or it is regarding an issue of which we have little knowledge. As you are aware, over the past year we have engaged a professional recruiting firm (Brecker & Merryman) who has assisted us in a number of different market research projects. However, in my opinion, this issue is not one that required much research. I have been involved in recruiting in some way, shape or form at both the graduate and undergraduate level for the past 10 years. Most major organizations, with the exception of the Accounting firms, begin the summer intern recruiting process in early spring. There are actually some universities that do not allow recruitment of summer interns until after a certain date, particularly in the MBA programs. For example, Harvard does not allow an organization to come on campus and speak to first year students until January. As indicated, the firms that generally recruit in the fall are the Accounting firms and they are primarily recruiting for "spring" internships. The recruiting strategy at Enron is no different this year than it was last year with respect to summer interns. Presentations were made in January & February and offers were made in February and March. The only school that did not follow the normal process was OU under the direction of George Hope. We did, of course, recruit summer interns in the fall for the tax group because they are competing directly with the Accounting Firms. Utilizing this strategy did not impair Enron,s ability to hire quality summer interns. This past summer Enron had 76 summer Analysts (undergraduate) and 40 summer Associates (graduate). We intentionally limited the number of summer hires to ensure that the individuals hired received meaningful assignments. Approximately 85% of these individuals received permanent offers to join Enron. The reason Enron has not had a problem recruiting quality undergraduate summer interns is primarily because many organizations do not hire undergraduates for summer positions. They generally focus on MBAs, particularly the investment banks and consulting firms which are the firms that Jeff Skilling identifies as Enron's competitors. Because the undergraduates are not actively recruited by our competition we have continued to have a special focus on these individuals (i.e. the reason there were 76 undergraduates and only 40 MBAs). With respect to OU and UT specifically since those were the schools about which you raised a concern, let me address your concerns. In your e-mail you indicated that you had research conducted at UT and OU. You did not however, provide the results of the research or the person to whom they had spoken therefore I had Lexi Elliott contact both UT and OU. While OU has not gotten back to her, following is the information obtained from UT. o The contact at UT Career Services is Cindy Henson. o According to Cindy, approximately 5% of companies actively recruiting on campus conduct interviews in the fall for "summer" internships. Cindy attributes this to the fact that these companies cannot come in the spring, or, in the case of Andersen Consulting, have a tremendous need and conduct all interviews at one time. o In conclusion, Cindy estimated that 95% of companies actively recruiting on campus recruit in the spring for summer internships. We have not received information from OU therefore I am unable to provide the statistics at this time. I will provide as soon as I am in receipt of such information. It appears that the information your source obtained is considerably different than what we were told. If you would provide the name of the individual to whom they spoke I will follow up to determine the reason for the discrepancies. While I understand your concern with respect to OU, they appear to be different than most of the other schools at which we recruit. If you believe that it is critical to recruit summer interns at OU in the fall we are supportive; however, because Lexi has other school interviews that are already scheduled she will not be in a position to facilitate the interview process during the trip you have scheduled currently. As you are aware, in most instances, the dates for presentations and interviews are dictated by the respective universities and were secured in early August. If you would like for her to try and secure an interview schedule for a later date this fall she can certainly work with your schedule and her current schedule to support your efforts. I hope this has been helpful. I can understand and appreciate your frustration if you are not getting answers from the recruiter or her manager. Again, I offer that I am available and willing to work with you if you are having difficulty with members of the Program staff. Please let me know what you decide about recruiting this fall for summer interns and whether I can be of any additional assistance. Charlene
Another defeat for Davis. Tough break. Is the judge's proposed decision available? Best, Jeff FERC Judge Urges Dismissal Of Calif Complaint Vs El Paso WASHINGTON -(Dow Jones)- An administrative law judge has recommended the U.S. Federal Energy Regulatory Commission dismiss a complaint alleging El Paso Corp. (EPG) manipulated the market for natural gas sales into California . The ruling in the high-profile, politically charged case was a setback for California , which had sought to hold El Paso financially accountable not only for higher natural gas prices, but also for the resulting higher electricity prices in a state heavily dependent upon gas-fired power plants. "While ... El Paso Pipeline and El Paso Merchant had the ability to exercise market power, the record in this case isn't at all clear that they in fact exercised market power," Curtis Wagner, FERC's chief administrative law judge, concluded in an initial decision forwarded to the commission late Tuesday. The California Public Utilities Commission, which filed the complaint against El Paso, said later Tuesday that it would appeal Wagner's decision on market manipulation. In a small victory for the state, Wagner did find that El Paso officials violated FERC's "standards of conduct" rules barring the sharing of market-sensitive information between pipeline companies and their natural-gas marketing affiliates. "El Paso Corp., El Paso Pipeline, and El Paso Merchant are guilty of affiliate abuse," Wagner concluded. "There was a dialogue between the pipeline affiliates and the marketing affiliate that gave an unfair advantage to the bidding" by the marketing unit for El Paso pipeline capacity into California , Wagner said. FERC had dismissed the issue of affiliate abuse on March 28 without a hearing. At Wagner's request, the commission later agreed to reopen the issue during a hearing into the market-manipulation complaint. The proceeding, which began April 4 and concluded August 6, resulted in a hearing record of 32 volumes and totaled 5,573 pages, while 515 exhibits were entered into evidence, Wagner reported. "The briefs measured approximately one linear foot," he said. Contracting With Affiliates At issue are contracts worth $38.5 million that El Paso's marketing unit entered into with its pipeline affiliate to secure 1.2 billion cubic feet per day of firm transportation capacity into California from March 2000 through June 2001. California argued El Paso had used its control of pipeline space to limit the supply of gas into the state and boost prices. The contract period coincided with an unprecedented period of power-market volatility, in which skyrocketing natural gas costs contributed to extreme spikes in electricity prices that ultimately rendered the state's utilities insolvent. The judge found that the contracts gave El Paso Merchant more than a 35% market share, the market-power threshold under FERC's merger guidelines, based on his interpretation of the relevant market. El Paso had argued for the higher antitrust-law threshold of 50%, but Wagner ruled that the lower standard should apply. But while that market share gave El Paso the "ability to exercise market power," Wagner said, "it is not at all clear from the record in the proceeding that El Paso Merchant and El Paso Pipeline exercised market power." The record offers only mixed support for allegations by the CPUC and utilities in the state that El Paso withheld gas supplies to drive up prices, Wagner said. From March through October 2000, El Paso's capacity utilization rate was about half the rate of other shippers, while for the remainder of the contract, the full capacity was used. Wagner concluded that El Paso's compliance with FERC rules requiring companies that control pipeline capacity to offer unused capacity to other shippers constituted an effective check against market power. Improper Communications Seen Where the state scored a win was in the second phase of the hearing, where Wagner heard evidence on allegations of affiliate abuse. Wagner cited telephone records and correspondence to conclude that El Paso violated FERC rules requiring pipelines and affiliated marketers to operate independently of one another. The rules also restrict communications between pipeline operating personnel and affiliated marketers. Transcripts of telephone conversations between pipeline and marketing employees of El Paso "demonstrate blatant collusion ... to keep secret a discount for service" on El Paso's Mojave system until the open season was over in which Merchant was bidding for the pipeline capacity on the sister pipeline, Wagner said, including the transcripts in his opinion. Wagner determined that the transcript offered a "prima facie" case of affiliate abuse, and urged El Paso to present witnesses to rebut his finding. But El Paso declined to present the witnesses, the opinion noted. Wagner also cited a confidential memorandum to William Wise, El Paso's chief executive, from the head of El Paso Merchant as contributing to his conclusion that El Paso and its pipeline and marketing affiliates "were in clear violation" of FERC's affiliate-abuse rules. El Paso replied in a statement that the commission had considered the same evidence and found no abuse in its March 28 ruling. The commission would commit a "legal error" if it adopted the judge's views, the company said. The parties have 30 days to file briefs taking exception to the judge's findings. The commission can either accept or reject the judge's findings. However the commission ultimately rules in the case, it is expected to end up appealed before a federal appeals court.
Thanks Robert C Williams@ENRON_DEVELOPMENT 02/02/2001 09:34 AM To: Michelle Blaine/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT cc: [email protected], [email protected], John Novak/SA/Enron@Enron, Bruce Lundstrom/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Richard B Sanders@ECT Subject: Re: Cuiaba Call--legal issues I want to get involved in this. Michelle will bring me up-to-date. I don't understand why we are considering Brazilian court versus ICC arbitration. Michelle Blaine 02/01/2001 07:36 PM To: [email protected], [email protected] cc: John Novak/SA/Enron@Enron, Bruce Lundstrom/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Richard B Sanders@ECT, Robert C Williams/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT Subject: Cuiaba Call--legal issues 1. Consent Issue: Jose Bestard (he's the main developer who did this deal) reported that he met with Furnas this week. Furnas had not received EPE's letter addressing the consent issue. Furnas continues to link its failure to sign the consent to commercial exposure to the high price from the MAE. There are initials on the original consent and no one (including Furnas) knows whose they are. John Novak told me he's not sure of the significance, but it is not uncommon in Brazil to initial documents. Nevertheless, we need to ask our Brazilian lawyers whether there is any significance under Brazilian law. Keep in mind also that consent document was between EPE and the assignor, Electronorte. 2. Arbitration considerations: Bestard has a meeting planned with the ambassador. He consulted Enron's financial/business consultant in Brazil, Winston Fernino (sp?) who advised that we should exhaust all political avenues before resorting to litigation or arbitration. What concerns me, however, is his advice that, politically, it is not the time to seek assistance fromthe president for the consent, that there is a political battle in the senate, and that we should wait until the end of February to seek political assistance. My view on that is, to wait 4 more weeks to progress with this notice of default, when the 90 day cure period has expired, plus the 30 day extension which has also expired, sends the wrong message and weakens our position. Thus, it is my recommendation that we proceed immediately with a notice to terminate under Clause 27, paragraph 2 of the PPA, which then requires a 30day consultation period (paragraph3) at the end of which we have the option to terminate. This buys us a little time, but keeps the pressure on, at the end of which we can initiate proceedings to compel the consent or to terminate. I'm not sure what reaction the notice to terminate could bring about from Furnas. I'm not sure how that plays out in our settlement with Siemans. Consider also that the commercial people are not comfortable with termination yet. I am not sure what rights, if any, we waive by waiting around doing nothing or how that may affect our position in arbitration or litigation (something we need to look at under the contract, although I cannot immediately recall any deadlines or express waivers related to timing in this regard). I committed that we would advise the team on the next call (next Thursday) our recommendation with respect to arbitration/litigation. I want to make sure they understand every possibility so they can make an informed decision. You have the matrix developed already if you want to expand on that, or handle that your own way. Bestard opines that Furnas will fight hard, that they have traditionally been very adversarial and uncooperative. I'll find out who represents them. 3. Force Majeure: Furnas is also taking a very strong position that EPE does not have a valid force majeure claim. Based on my reading of the contract, our facts appear to fit squarely under Clause 95(c). However, I'm told we did not comply strictly to the notice terms. We'll need to show that we were not negligent as a cause for the attorney general's action. Laine Powell, President of the Cuiaba companies will gather the information on our force majeure claim and we need to consider the legal issues related to our position. Note that if FM lasts more than 12 consecutive months, both parties have the right to terminate. No one buys the plant and we're stuck. I'll find out the date of our last FM notice. There have been several. 4. Budget: Lets consider what it will cost to nail down this arbitration concern and give initial advice on how to proceed over the next week, what it will cost to prepare for arbitration and, the cost of the arbitration. Darren I'll call you tomorrow and we can break that out. We may want to consider the litigation route. We'll need to put together some kind of proposed or potential time line, and what will happen in each stage and tie a number to it. I've done this with Pete before and he seems to like it. It needs to be subject to review as we go along. 5.NEXT: Prep for the call and get a recommended strategy in place. I'm going to get together all our opinions on the Brazilian state of arbitration and get a conference call with one of these experts so we can get the best advice. We certainly have some conflicting views. Our experience in the Brazilian courts is that nothing happens and we could be stuck for years, so I am inclined to take our chances with arbitration and we may get stuck in the court anyway. If we go to court, perhaps Furnas would take the position that we must arbitrate, that is what Fernando Serec said. Who knows. Please give me your comments or just call me. I'm open to any suggestions. John Novak will be able to tell us about all the competing concerns that I may be unaware of with any strategic plan. Regards, Michelle