text_combined: fw enron canada update 06 25 01 fyi original message milnthorp rob sent monday june 25 2001 3 18 pm lavorato john subject fw enron canada update 06 25 01 john significant transactions completed since last update quarter end looking cdn hunter heat rate swap close british energy paper signed new developments project banana split good meeting w minister murrary smith alberta govt energy agreed verbally splitting ppa letter effect forthcoming alberta government pleased announcement retail market plan send press release effect press conference scheduled tuesday june 26 th original message milnthorp rob sent monday june 11 2001 6 49 pm lavorato john subject enron canada update 06 11 01 deals done sunoco gas 5 year synthetic transport ab east c 1 mm orig atlantic packaging east power british energy hedge 3 yr 40 mw c 47 50 mwh c 1 5 mm orig conditional market opening ivaco east power dispatch management services agreement 3 yr 50 mw 15 upside contract price 47 mwh enerconnect east power board approved extension removal july 01 drop dead date removal non competes c 8 mm conditional market opening deals pending 2 nd quarter blue range final dividend payment c 2 mm orig cdn hunter 9 yr 10 mw heat rate swap c 3 mm british energy amended paper dec 31 2002 drop dead date signed end week nl turbine sale 2 counterparties close c 1 mm orig moore site calpine shown bid attempting move seek approval hitting c 3 mm domtar british energy hedge 3 yr 40 mw 47 50 mwh dispatch rights settlement services c 2 mm conditional market opening deals pending 3 rd quarter project targetco purchase canenerco nol ca sent friday c 5 mm orig nug contract mgmt definitive agreement signed mid july services commence august 1 2001 c 1 mm orig project periscope purchase tcgs aggregator pool need discuss think deal looks probable fits well c 5 mm powerex 10 year fixed price alberta pool c 5 mm highvale bypass signed ca transalta 1 yr exclusivity bypass alberta grid direct connect sundance coal mine c 5 mm project goliath pre qualified bid opg disposition lakeview lennox generating plants non binding bids due july 19 th sts resolution aeub hearing paying owner freight mw target availability c 30 mm british energy hedge summary sunoco 3 yr 36 mw 43 50 tcpl 2 yr 100 mw 45 50 atlantic 3 yr 30 mw 47 50 ivaco 3 yr 50 mw 47 00 domtar 3 yr 40 mw 47 50 verbal confirmation paper signed end qtr total 256 mw original message lavorato john sent monday june 11 2001 11 20 milnthorp rob subject fw west power orig update milly send something like every monday morning know might close original message calger christopher f sent monday june 11 2001 10 58 lavorato john kitchen louise cc hillis kimberly schoppe tammie subject west power orig update las vegas allegheny bid strong required financing 45 days unacceptable black hills bid clean purchase sale markup bid implies 35 mm gain ena 10 mm go calpers since investor lv 1 going board thursday want execute early next week close aug 31 try get higher bid northland week 40 mm gain require two week financing secure 10 mm non refundable deposit sign northland close july either case accounting may require us recognize income quarter las vegas fair market value investment rac requires dash sell asset size circulate wednesday thursday one long shot deal proposing allegheny tear existing 15 year toll backed las vegas project enter 15 year firm energy sale epmi palo verde value deal may excess 100 mm since market fallen much would merchant asset would sold near cost achievable would significantly riskier current plan would probably require board approval value makes worth exploring amps continue push geneva steel oregon steel permitting info west power markets fallen economics marginal best friday curves suggested value 10 mm vs cost 17 mm imperfect put swaption would cost 4 mm eroding value spoke brett wiggs friday forwarded technical specs reviewed different deal structures might work dwr announced thursday signed definitive long term deals honor approx 6 500 mw long term non binding agreements principle renegotiated prices fallen much dwr signed master agreement short term deals tim want execute litigation risk anything time generator tolls interest fallen due rapid drop power prices still talking 6 7 parties dont think anything get done soon munis mcdonald got small term sale done np 15 city lassen approx 600 k orig new marketing initiatives negotiating 3 generator service agreements mostly small plants coming line year entrepreneurs behind deals shell shocked low prices many already committed capital montana state forced divestiture generation retail load short starting july 1 2002 governor office asked us bring 700 mw 10 year solution willing issue 500 mm bond prepay buydown part energy basic play swap epmi mid c position state position ppl package renewables sell state prepaid ppa long shot interesting ca industrials group industrials want buy 800 mw np 15 delivered 5 years part negotiated settlement ca gov affairs working core non core structure state would potentially lead open access industrial load pay big exit fee cover stranded costs incurred past 12 months