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May need to redirect this to Luis Gonzalez (with a Z)
-----Original Message-----
From: Shackleton, Sara
Sent: Friday, February 23, 2001 2:19 PM
To: Boyd, Samantha
Cc: Gonzales, Luis
Subject: ECT Investments, Inc.
Sam: Will you please respond to Luis? 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 02/23/2001 02:17 PM -----
Luis A Gonzalez/ENRON@enronXgate 02/22/2001 05:20 PM To: Sara
Shackleton/HOU/ECT@ECT cc: Subject: ECT Investments, Inc.
Dear Sarah,
Please forward me an updated list of officers for this entity. I am trying
to update the signatories for this account and upon getting approval, Mr.
Kinneman advised me that he was no longer President of this entity. I obtain
my information from secretariat and as you know is not the most efficient.
Thanks in advance.
Luis A. Gonzalez
[email protected]
Enron Global Finance Cash Management
EB2008d
ext. 57362 | {
"pile_set_name": "Enron Emails"
} |
Lucy:
I heard back from Mark and he seemed receptive to our suggestion to consider
you for the legal asst. position. Sounded like he wnted to think about it
over the weekend. I'll keep you posted.
Carol | {
"pile_set_name": "Enron Emails"
} |
CALENDAR ENTRY: APPOINTMENT
Description:
Staff Mtg. Conference room EB4102
Date: 1/22/2001
Time: 11:00 AM - 1:00 PM (Central Standard Time)
Chairperson: Outlook Migration Team
Detailed Description: | {
"pile_set_name": "Enron Emails"
} |
I'm taking over Carla Hoffman's position at the Deal Control desk in
Portland, and I've got a request from Kim Ward to look into this deal entered
incorrectly by our Short Term Southwest desk. Unfortunately, I need more
information, such as the deal number and term, in order to make any changes
to it.
If you have this or know who does, please let me know and I'll be happy to
make any necessary changes to this deal. My number in Portland is
503.464.7486.
Thanks,
Kate
---------------------- Forwarded by Kate Symes/PDX/ECT on 11/17/2000 05:02 PM
---------------------------
From: Kim Ward 11/15/2000 10:31 AM
To: Kate Symes/PDX/ECT@ECT
cc:
Subject: Re: DSM 5261
Kate,
A request (below) has been made to fix a deal that was entered by Tom and
Mark incorrectly (through the option exercise function in deal blotter). The
deal numbers and legs that need to be fixed are listed below. Instead of
being a forward transaction, these legs should be entered as index forwards.
We are paying the DJ PV index plus $5 or 5%, whichever is more. Therefore,
if daily prices were more than $100 at palo verde, the offset should be 1.05.
I know that i have totally confused you but let me know of any questions you
might have and I will be glad to help.
Thanks,
Kim
---------------------- Forwarded by Kim Ward/HOU/ECT on 11/15/2000 09:31 AM
---------------------------
Enron Capital & Trade Resources Corp.
From: [email protected] 11/14/2000 02:03 PM
To: [email protected]
cc:
Subject: Re: DSM 5261
Kim,
The message listed below was previously forwarded to Caroline. Per
Caroline, I would need to talk to the actual Trader. Please let me know if
you can help me resolve this issue.
Please call me at ext. 3-6488 if you have any questions.
Thanks,
Katrina
Katrina Johnson
11/14/2000 03:02 PM
To: Caroline Emmert/HOU/ECT@ECT
cc:
Subject: DSM 5261
Caroline,
Deal #420886 legs 3-7 have no price attached to the deal. Would you please
add the DJPV index plus an offset of 5%. On legs 2 & 8 the offset needs to
be changed from $5.00 to 5%.
Please let me know if you have any questions.
Thank You,
Katrina | {
"pile_set_name": "Enron Emails"
} |
Hope that all is well in Denver. The Summit Energy deal is # 1106718, Tagg # YQ4219.1
Carole C, Frank
Enron Net Works
713.345.3960 work
713.446.9307 cell | {
"pile_set_name": "Enron Emails"
} |
Lets get a petition ready .What is your guestimate on our chances of success. | {
"pile_set_name": "Enron Emails"
} |
Hi.
This is one of my top priorities. I think it looks fine. What do you think?
Kay
---------------------- Forwarded by Kay Mann/Corp/Enron on 02/12/2001 12:45
PM ---------------------------
Kay Mann
01/30/2001 12:04 PM
To: Kathleen Carnahan/NA/Enron@Enron
cc:
Subject: enovate appointments
Let's discuss.
---------------------- Forwarded by Kay Mann/Corp/Enron on 01/30/2001 12:04
PM ---------------------------
From: Gregg Penman on 01/26/2001 01:16 PM
To: Kay Mann/Corp/Enron@Enron
cc:
Subject: enovate appointments
Kay - have you had any chance to give this some thought? We are about to
take some actions that require Board approval so I would like to get this
finalized. Let me know. Also, I am trying to get back on the Intercompany
loan stuff. I am going to be in Houston next week and have Wednesday pretty
open. Are you going to be in town? If so, maybe we could get together for
half hour or so to go over the loan stuff.
Thanks - Gregg
----- Forwarded by Gregg Penman/Corp/Enron on 01/26/2001 01:14 PM -----
Gregg Penman
01/17/2001 08:41 AM
To: Kay Mann/Corp/Enron@Enron
cc:
Subject: enovate appointments
It looks like your memory serves you well. Section 6.8.2 allows the Managing
Member to designate officers of enovate. I revised the original appointment
declaration you prepared to reflect Laura as VP. Take a look at it and let
me know if it works. If so, I will probably ask you to have Janet execute it
at your convenience.
Thanks - Gregg | {
"pile_set_name": "Enron Emails"
} |
FYI.
----- Original Message -----
From: Dozier, Mike <[email protected]>
To: IEPA <[email protected]>
Cc: Riley, Ed <[email protected]>; Kindel, Barbara <[email protected]>;
Malugani, Carol <[email protected]>; Timson, David <[email protected]>;
Jaschke, Allen <[email protected]>
Sent: Thursday, November 30, 2000 5:33 PM
Subject: ISO Requirements for Generating Unit Direct Telemetry
> Independent Energy Producers Association (IEP) Representatives:
>
> The attached letter requests your assistance in providing information to
IEP
> members regarding the ISO's recently-adopted requirements for direct
> telemetry from Generating Units that are providing -- or intend to provide
> -- Ancillary Services (other than Regulation) to the ISO. Those
> requirements provide that such Generating Units utilize the Data
Processing
> Gateway (DPG) technology for direct telemetry effective as of June 1,
2001.
> We are particularly interested in ensuring that owners of Generating Units
> that may currently be operating under the terms of existing power purchase
> agreements be aware of the ISO requirements in advance of termination of
> those agreements so that they may plan and budget for the installation of
> the DPG technology in a timely manner.
>
> If time permits, we would also request that you inform IEP members of the
> ISO's December 7 stakeholder meeting to discuss DPG requirements, among
> other matters.
>
> Your assistance in disseminating the information contained in the attached
> letter is greatly appreciated. A hard copy of the attached letter will be
> provided by FedEx. Please feel free to contact me or one of the ISO
> employees identified in the attached letter if you have any questions.
> Thank you.
>
> Mike Dozier
> ISO Manager of Contracts
> (916) 608-5708
>
> > <<Smutny-Jones IEP.GCP DPG QF Letter 001130.doc>>
> >
>
- Smutny-Jones IEP.GCP DPG QF Letter 001130.doc | {
"pile_set_name": "Enron Emails"
} |
---------------------- Forwarded by Darron C Giron/HOU/ECT on 04/12/2001
02:37 PM ---------------------------
Enron North America Corp.
From: Darron C Giron 04/12/2001 10:06 AM
To: Patrick Ryder/NA/Enron@Enron, Phillip M Love/HOU/ECT@ECT, Bruce
Mills/Corp/Enron@ENRON, Victor Guggenheim/HOU/ECT@ECT
cc:
Subject: Re: FW: Prison Bitch Name Generator
---------------------- Forwarded by Darron C Giron/HOU/ECT on 04/12/2001
10:04 AM ---------------------------
Enron North America Corp.
From: Darron C Giron 04/11/2001 04:00 PM
To: "Brent Wallace" <[email protected]> @ ENRON
cc:
Subject: Re: FW: Prison Bitch Name Generator
Nipple Nibbler
DG
"Brent Wallace" <[email protected]> on 04/11/2001 02:52:49 PM
To: "James Conlee \(E-mail\)" <[email protected]>,
<[email protected]>, <[email protected]>
cc: <[email protected]>, <[email protected]>, <[email protected]>
Subject: FW: Prison Bitch Name Generator
What's yo name, biznitch?
http://members.iglou.com/lyons/bitchGen.html
<<Oz Prison Bitch Name Generator.url>>
- Oz Prison Bitch Name Generator.url | {
"pile_set_name": "Enron Emails"
} |
Tom,
Please create a spot ticket for gas that commence flowing on 1/14/00 at 8:30
am. The pertinent information is as follows:
Counterparty Mtr. Volume Price
GMT, Inc. 9814 500mmbtu/d 100% IF/HSC
Should you have any questions, please give me a call.
Thanks,
vlt
x3-6353 | {
"pile_set_name": "Enron Emails"
} |
Please see the following articles:
Sac Bee, Thurs, 4/5: "Conservation bills hit snag: Provisions added to
shield farmers from
blackouts irritate Senate leaders and delay passage of an overall package."
Sac Bee, Thurs, 4/5: "Democrats urge U.S. price controls"
San Diego Union, Thurs, 4/5: "California governor prepares to address state
on energy"
San Diego Union, Thurs, 4/5: "State gets $4.1 billion infusion"
San Diego Union, Thurs, 4/5: "All California hospitals exempted from
blackouts"
San Diego Union, Thurs, 4/5: "Quick fix proposed for power problems"
LA Times, Thurs, 4/5: "Treasurer Urges Disclosure of Power Cost"
LA Times, Thurs, 4/5: "House GOP Moves to Draft Plan to Give the West Summer
Energy Aid"
LA Times, Thurs, 4/5: "California's Electricity Woes Power Up Northwest"
SF Chron, Thurs, 4/5: "Davis Campaign Losing Steam
Energy crisis generates possible challengers for governor in 2002 "
SF Chron, Thurs, 4/5: "Crisis Takes Toll On State Economy
DAVIS'S SPEECH: Possible tax on generators "
SF Chron, Thurs, 4/5: "San Jose Looks Past the Energy Crisis
Big server farm OKd in hope the electricity will be there"
SF Chron, Thurs, 4/5: "More Unpaid Power Plants Face Closing
Owners slam PUC silence about bills "
SF Chron, Thurs, 4/5: "California governor plans to address state on energy
"
SF Chron, Thurs, 4/5: "Critics question effectiveness of energy rebates "
SF Chron, Thurs, 4/5: "Developments in California's energy crisis "
Mercury News, Thurs, 4/5: "Sharp dispute on economic impact in California"
Mercury News, Thurs, 4/5: "Gov. Davis prepares to address state on energy"
Orange County, Thurs, 4/5: "Too much hot air about too little power"
(Commentary)
Orange County, Thurs, 4/5: "More pain predicted in electric crisis"
Orange County, Thurs, 4/5: " 'Windfall tax' on power profits? "
Orange County, Thurs, 4/5: "PUC chief takes issue with utilities' claims on
power crisis"
Orange County, Thurs, 4/5: "State borrows $4.1 billion for power"
Orange County, Thurs, 4/5: "Electricity Notebook: Davis to discuss power
crisis in
televised address"
Individual.com, Thurs, 4/5: "California Regulators Face Backlash"
Individual.com, Thurs, 4/5: "ICF Consulting Study Predicts Turning Point in
Wholesale Power Markets"
Energy Insight, Thurs, 4/5: "Global Energy Use to Increase by 59%"
------------------------------------------------------------------------------
----------------------------------------------------
Conservation bills hit snag: Provisions added to shield farmers from
blackouts irritate Senate leaders and delay passage of an overall package.
By Kevin Yamamura and John Hill
Bee Capitol Bureau
(Published April 5, 2001)
Conservation bills designed to keep energy flowing this summer were stalled
in the Legislature on Wednesday by a dispute over whether some farmers should
receive special protection from potential summer power blackouts.
The proposals make up a complementary, two-house conservation package that
aims to save California about 4,000 megawatts of energy. The two bills -- SB
5x by state Sen. Byron Sher, D-Palo Alto, and AB 29x by Assemblywoman
Christine Kehoe, D-San Diego -- together would cost the state $1.2 billion,
though Gov. Gray Davis may reduce that with line-item vetoes should the
legislation reach his desk.
The dozens of conservation measures include:
$20 million in rebates or other incentives to encourage Californians to
replace inefficient appliances, with priority given to low- and middle-income
residents.
An outreach program to teach schoolchildren about saving energy.
$14.5 million for efficient traffic signal lights.
Lawmakers want to give the bills to Davis before next week's scheduled spring
recess begins late Thursday, but the legislation remains mired in a
cross-house entanglement over a series of changes that the Assembly penciled
into SB 5x on Tuesday.
The Assembly approved the bill Wednesday on a 74-1 vote, but the Senate
adjourned without resolving the dispute.
Assembly leaders said that unless several proposals favorable to farmers were
included in the bill, a group of Central Valley lawmakers would have opposed
it.
One proposal limits the amount of time interruptible agricultural customers
can lose energy to four hours a day or 20 hours per month. Michael Boccadoro
of the Agriculture Energy Consumers Association said farmers and food
processors are concerned that their perishables would not be able to survive
beyond that amount of time.
The provision would affect "interruptible," customers, those who volunteer to
lose power in emergencies in exchange for lower rates.
Assemblyman Dennis Cardoza, D-Merced, a main proponent of the proposals, said
the state's farmers are going to be the most hurt by rolling blackouts and
high rates this summer and "are getting ready to leave the state if we don't
take care of the problem."
But the late change riled Senate leaders. Senate President Pro Tem John
Burton, D-San Francisco, said it would shift costs from farmers to urban
residents and develop special programs for agricultural customers.
"I think the ag people were very greedy, and what they gained in this
amendment, they may lose in other stuff," Burton said.
Assemblyman Fred Keeley, D-Santa Cruz, said he does not support some of the
amendments but said that they should not prevent the conservation package
from moving forward.
"We're trying to solve a problem," he said. "In my view, we cannot let the
perfect be the enemy of the good."
Davis met privately with Assembly Republicans on Wednesday for two hours and
emerged saying he would talk about rate increases during tonight's
five-minute televised speech.
Republicans said they discussed proposals that would boost energy supply in
the state and one to allow businesses to contract on their own for energy,
which won the Democratic governor's support.
State Treasurer Phil Angelides, meanwhile, said he has lined up commitments
for $4.1 billion in loans to keep the state going for the next few months
until the sale of bonds to buy electricity. He hopes to get a total of $5
billion to $6 billion in bridge loans. The money will be used to repay the
state's general fund for what it has spent on power so far.
The loans, in turn, would be paid back with money from the bond sales. But
Angelides warned that, before the bonds can be sold, he needs more
information from Davis about what's being spent on power.
"We will be selling the bonds in the public marketplace and so information
must be made publicly available," he said.
The treasurer, who like Davis is a Democrat, said he wants to see the
information and the administration's long-term plan before he supports
selling bonds in excess of $10 billion, the initial estimate of the bond
sale.
If the bond sale is delayed, he said, the state could end up paying a higher
interest rate on the bridge loan, which comes due Aug. 29.
Tim Gage, Davis' finance director, said in a news release Wednesday that it
was Angelides' bond underwriter, J.P. Morgan, who told him that more than $10
billion might be needed. Gage said Angelides is well aware that the
Department of Water Resources, which is buying power on behalf of the state,
has gone to great lengths to estimate how much money it needs.
Davis has come under fire from legislators, the media and others for not
disclosing more details about power purchases. The administration says that
revealing more would compromise the state's bargaining position.
Angelides also said that if Pacific Gas and Electric or Southern California
Edison challenges a Tuesday decision by the Public Utilities Commission
setting the state's share of electricity revenues, the bridge loan could be
held up.
PG&E spokesman Ron Low said the utility is reviewing the PUC decision to see
if all its costs of buying power will be covered.
The company has 10 days from Tuesday to ask for a rehearing. If PG&E decides
not to seek a new hearing, Angelides said, he would expect to complete the
bridge loan within another week.
Angelides said that officials should start turning their attention from
paying for power to driving down the costs of electricity by enacting an
excess profits tax on generators or buying power plants.
A state Senate committee Thursday approved a vaguely defined bill to impose a
windfall profits tax on power generators. Under the bill, the revenues raised
by the tax would be returned to ratepayers.
"It really doesn't get at the fundamental problem, which is supply," said
Martin Wilson, a lobbyist for Houston-based Reliant Energy Inc., which owns
generating plants in California.
Wilson said the tax could actually worsen the supply problem by creating "a
major disincentive" to building power plants in California.
The Bee's Kevin Yamamura can be reached at (916) 326-5542 or
[email protected].
Bee Staff Writer Dale Kasler contributed to this report.
------------------------------------------------------------------------------
----------------------------------------------------------
Democrats urge U.S. price controls
By David Whitney
Bee Washington Bureau
(Published April 5, 2001)
WASHINGTON -- Nearly three dozen Democratic House members from California,
Oregon and Washington joined in support of legislation to impose mandatory
controls on wholesale electricity prices Thursday amid indications that the
issue is fast becoming a political powder keg.
The legislation was endorsed by House Minority Leader Dick Gephardt, D-Mo.,
who stood shoulder-to-shoulder with a large contingent of West Coast
Democrats at an outdoor news conference. The House members denounced the Bush
administration and the Federal Energy Regulatory Commission for doing nothing
as prices zoom ever higher in a market of perpetual shortage.
"They are going to keep FERCing us day in and day out," said Rep. Peter
Defazio, D-Ore., in a word play on the acronym for the regulatory commission.
"If the Bush administration is frozen in inaction, congressional members will
step forward and exert action," Gephardt said.
With the West Coast summer of power shortages fast approaching, Rep. Joe
Barton, the Texas Republican who heads the House Energy and Commerce energy
subcommittee, had intended to roll out an energy bill by this week.
But the House recesses Friday for a two-week spring break, pushing off any
House bill until late April. And Barton's spokeswoman, Samantha Jordan, said
it's not certain now that Barton will even introduce legislation as a result
of six days of hearings on the California crisis.
"He hasn't decided to do a bill," Jordan said. "He's still looking at
options."
Some utility and Democratic sources said the White House has quietly urged
Barton to slow down work on an energy bill because it is worried that
Democrats will offer the price-control legislation as an amendment.
With fears spreading in the Northeast that New York and possibly other states
could face similarly skyrocketing electricity costs as air conditioners begin
turning on in a few weeks, the White House is said to be concerned that such
an amendment could squeak through Congress and force the president's hand on
a veto.
Last week Barton began circulating a list of ideas for inclusion in an
emergency bill. Among the ideas is requiring the FERC to determine if prices
are being unreasonably jacked up by producers -- something the commission
already has decided.
The ideas also included starting up backup generators on federal buildings,
authorizing portable generators to be set up and run on military property,
authorizing the Defense Department to "explore connecting Navy nuclear-ship
generators to the electric grid" and firing up mothballed non-nuclear plants.
One congressional source said the administration has begun dispatching
regulatory officials to federal property in California looking at any and
every suitable location for "dropping in" portable generation plants.
The Bee's David Whitney can be reached at (202) 383-0004 or
[email protected].
------------------------------------------------------------------------------
------------------------------------------------------------
California governor prepares to address state on energy
By Jennifer Coleman
ASSOCIATED PRESS
April 5, 2001
SACRAMENTO ) While California Gov. Gray Davis prepared to address the state
Thursday night on energy, economic forecasters predicted his constitutents
will pay higher taxes, watch out-of-state investments evaporate and suffer
scrapped public projects because of the ongoing power crisis.
The UCLA Anderson Forecast says the worst economic threat could come from
state government itself and its scrutiny of private power suppliers, which
along with blackouts and brownouts, could scare new businesses away.
Davis addressed some commercial concerns Wednesday by breaking with his
appointees on the Public Utilities Commission by saying private companies and
other large power users should be allowed to contract directly for power with
generators.
State gets $4.1 billion infusion
All California hospitals exempted from blackouts
Quick fix proposed for power problems
Continuing coverage: California's Power Crisis
?
Critics of allowing direct access include PUC President Loretta Lynch and The
Utility Reform Network, who say residential customers and small businesses
unable to garner such contracts will get stuck with the bill for the billions
of dollars the state has and will spend buying electricity for the customers
of three cash-strapped utilities.
Word came from California's treasurer Wednesday that the state had secured
$4.1 billion in loans to help pay back the state's power buys.
Facing continued refusal from federal energy regulators to cap high energy
prices, Davis reassessed the tools at his disposal Wednesday, saying he is
open to supporting a windfall-profits tax being proposed by lawmakers on
electric generators that have made a fortune selling power to California this
year.
Assemblywoman Ellen Corbett, D-San Leandro, introduced a windfall-profits tax
bill Wednesday that would tax gross receipts that "significantly exceed" the
cost of producing power.
It would also tax profits of power marketers who have bought power and later
sold it at much higher rates. The rate of the tax was not specified in the
bill, and Corbett said she expects the details to be worked out later.
"We continue to allow some electricity generators and middlemen to reap
enormous profits on their sales of electricity into the state. This
profiteering must stop," said Corbett.
Senators on the Revenue and Tax Committee have also inserted similar language
into a pending bill.
Tom Williams, spokesman for Duke Energy, said he doubted a tax on a selected
industry would be legal. The tax would discourage generators from building
new power plants in California, he said.
"The governor has made very clear that he is trying to do whatever he can to
increase the amount of generation in California and reduce the price.
Windfall profits taxes do neither of these," said Williams.
"Clearly it would have an adverse affect on our decisions on new investment
or following through on our planned investments," he said.
Davis said Wednesday he generally opposes treating profitable companies in
that manner, "but these profits are outrageous and are at our expense. The
only things companies understand is leverage. I'm not saying I'll sign it and
I'm not saying I won't sign it."
For the first time, Davis also said the state should let companies buy their
power from generators instead of going through the utilities.
A January law that allowed the state to begin buying power for two nearly
bankrupt utilities barred such side contracts.
"That was done originally with the thought the state would have more power
and no one to sell it to if companies got off the grid," Davis said. "But our
problem is the opposite this summer. If companies want to get off the grid,
we should encourage, not discourage that."
The Democratic governor's comments came after he met behind closed doors for
more than two hours with Assembly Republicans, who have sharply criticized
his handling of the energy crisis.
"I think everyone agreed there are no political winners unless we resolve
this challenge," Davis said. "There were a lot of suggestions in there I'm
willing to adopt."
For instance, he agreed that San Diego Gas and Electric customers should have
a different benchmark for receiving 20 percent rebates under his program for
consumers who cut their energy use by 20 percent this summer.
Unlike other Californians, San Diego residents faced soaring rates last
summer and began conserving then, so Davis said they should have to cut 20
percent from 1999 energy use levels instead of using last summer as a
starting point.
Davis said he hasn't written the remarks he will make during a five-minute
address at 6:05 p.m. Thursday that he has asked California television
stations to carry live.
However, he said he will "share with them (viewers) the progress that we've
made and what we have to get through."
He is expected to talk about the more than 40 percent rate increases approved
last week by the PUC for customers of Pacific Gas and Electric Co. and
Southern California Edison Co.
------------------------------------------------------------------------------
----------------------------------------
State gets $4.1 billion infusion
Treasurer to Davis: Don't pay generators' 'ransom'
By Ed Mendel
UNION-TRIBUNE STAFF WRITER
April 5, 2001
SACRAMENTO -- State Treasurer Phil Angelides announced an agreement for a
$4.1 billion short-term loan yesterday that would provide urgently needed
cash to begin repaying the state general fund for power purchases.
Angelides said the loan is needed to protect the state's credit rating and
preserve "important funding for programs such as education, public safety and
children's services."
The treasurer also sent a letter to Gov. Gray Davis warning that plans to
increase the size of a $10 billion bond, which would repay the short-term
loan and finance future power purchases, may only delay the "reality of
runaway energy prices."
Angelides urged Davis and the Legislature to send power generators a message
by considering a windfall profits tax or seizure of power plants that
utilities sold under a failed deregulation plan.
"These are very tough guys," Angelides said, "and you don't negotiate with
them by trying to figure out night and day how to pay their ransom. You've
got to push back on them. It's the only thing they understand."
The state Senate began moving a bill yesterday that would impose a windfall
profits tax on generators. The governor declined to say whether he would sign
the bill, but Davis did say its movement was "not an entirely unpleasant
event."
"These profits are just outrageous," said Davis, echoing the treasurer's view
of the generators. "They are coming at our expense directly, and the only
things companies understand is leverage."
The governor, who had previously briefed Democrats in both houses on his
handling of the electricity crisis, emerged from a two-hour meeting with
Assembly Republicans yesterday and announced two agreements.
Davis said he would make an adjustment sought by San Diego County residents
in his "20/20" conservation plan, which reduces electricity bills 20 percent
if customers reduce their energy use 20 percent below the same summer month
in the previous year.
San Diego Gas and Electric ratepayers reduced their power use last summer
when the utility became the first to be deregulated and bills doubled and
tripled before rates were capped by legislation.
The governor also said that businesses and other large users of electricity
should be allowed to contract directly with generators for power. He said new
contracts were barred because the state thought it would need customers to
pay for state power purchases.
"Our problem is just the opposite," Davis said. "We should encourage that and
not discourage it."
Assembly Republicans said Davis told them that he will discuss the need for
an increase in electricity rates in a statewide television address scheduled
for 6:05 p.m. today.
The state Public Utilities Commission, controlled by Davis appointees,
abruptly imposed the biggest rate increase in state history on Pacific Gas
and Electric and Southern California Edison customers last week. An SDG&E
rate increase is pending.
Davis said the PUC rate increase was "premature" and promised to give his
view after studying data. The PUC increase was more than 40 percent for
electricity and about 26 percent in the total bill, which includes
transmission and distribution costs.
The state began buying power for utility customers in mid-January after PG&E
and Edison were pushed to the brink of bankruptcy. Their rates were frozen
under deregulation as wholesale power costs soared, producing a debt of about
$13 billion.
State officials are considering purchasing the utilities' transmission
systems as a way to provide the utilities with money to pay that debt.
Sempra Energy Chief Executive Stephen Baum said yesterday in New York that
the company, which owns SDG&E, wants $1.4 billion for its part of the grid,
but state officials have offered $1.2 billion. The state has not disclosed
any details about the SDG&E negotiations.
Edison reached a tentative agreement with the state last month to sell its
larger part of the grid for $2.76 billion.
So far, the state has spent about $4 billion to buy electricity. Angelides
said he has a commitment for a $4.125 billion short-term or "bridge" loan
from three lenders: J.P. Morgan, $2.5 billion; Lehman Brothers, $1 billion;
and Bear Stearns, $625 million.
The treasurer said he hopes to get other lenders and reach a total of $5
billion to $6 billion. But, Angelides said, the loan could be blocked if
utilities challenge a decision by the PUC on Tuesday that gives the state
$3.5 billion a year from the monthly bills collected by utilities from
ratepayers.
PG&E and Edison have said they believe the PUC action does not leave them
enough money and will drive them deeper into debt. The utilities said
yesterday that they have not decided whether to challenge the PUC ruling.
Angelides said the utilities have 10 days from Tuesday to challenge the PUC
decision. He said that if the PUC did not quickly resolve a challenge,
legislation would be needed to allow the short-term loan. If the utilities do
not challenge the PUC action, he would expect to close the short-term loan by
about April 23.
Angelides said the short-term loan, obtained at 5.38 percent interest, must
be repaid by Aug. 29 or it will automatically convert into a long-term loan
with an interest rate that is two percentage points higher and due Aug. 29,
2004.
The plan is to repay the short-term loan with the biggest municipal bond in
the history of the nation, which would be paid off by ratepayers over a dozen
years. But Angelides and the Davis administration disagree about how large
the bond should be.
Angelides wanted to limit the bond to $10 billion. He warned last month that
the money, which will also pay for upcoming electricity purchases, could be
exhausted by September if the state continues to buy power at high rates.
PUC President Loretta Lynch said the $3.5 billion in ratepayer revenue
allocated to the state would allow a bond issue of $12 billion to $14
billion. The Davis administration says a bond in that range is needed to
spread the cost of power purchases over a decade and avoid a huge rate
increase.
Angelides said a bond cannot be issued unless the Davis administration
publicly discloses detailed information about power purchases -- prices paid
in the past and estimates for the future. Newspapers and Republican
legislators have filed lawsuits to force the release of the information.
The Legislature yesterday sent Davis a bill by state Sen. Dede Alpert,
D-Coronado, that would cap rates for businesses served by SDG&E at 6.5 cents
per kilowatt-hour.
Currently, businesses whose peak demand exceeds 100 kilowatt-hours a month
pay market rates for electricity, which in some cases have soared to 37 cents
per kilowatt-hour. An Alpert aide said Davis is expected to sign the bill.
Staff writer Bill Ainsworth and Bloomberg News Service contributed to this
report.
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All California hospitals exempted from blackouts
By John Berhman
UNION-TRIBUNE STAFF WRITER
April 5, 2001
All hospitals in California, regardless of their size, are now ensured that
their power will remain on during rolling blackouts, thanks to a ruling by
the state Public Utilities Commission.
Previously, hospitals with fewer than 100 beds were not exempt from rolling
blackouts imposed by power companies, Jan Emerson, a vice president for the
California Healthcare Association, said yesterday.
"The PUC had that 100-beds-or-more rule on the books since 1980, but they
came to realize that there is no magic number when you are putting people's
lives in jeopardy," Emerson said.
The PUC decision, made on Tuesday, "takes the decision out of the hands of
the power companies" and ensures electricity for all hospitals, she said. San
Diego Gas & Electric Co. has been cooperative about maintaining power to
hospitals during rolling blackouts here, Emerson said, but the state's other
two companies, Southern California Edison and Pacific Gas & Electric, have
not been.
She said that during blackouts of March 19 and 20, about a dozen hospitals
lost power, ranging in size from the 750-bed Long Beach Medical Center to the
40-bed Adventist Health Redbud Community Hospital in Clear Lake, north of San
Francisco.
A lawsuit filed March 22 on behalf of the hospitals, and backed by the health
care association, forced the commission to change its policy, Emerson said.
The decision was well-received in San Diego County.
"We had been assured by SDG&E that we would be given a high priority to keep
our power on during a rolling blackout," said Corey Seale, chief executive
officer for the 47-bed Fallbrook Hospital. "But we're very pleased by the PUC
action because this guarantees us service absolutely even during rolling
blackouts."
Utility companies have argued that hospitals have backup generators that can
kick in during rolling blackouts, Emerson said, "but that can take 10 to 15
seconds to occur, and for someone undergoing open-heart surgery, that delay
could be fatal."
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Quick fix proposed for power problems
Clean-air waivers part of GOP package
By Toby Eckert
COPLEY NEWS SERVICE
April 5, 2001
WASHINGTON -- A key House Republican said yesterday he is drafting emergency
legislation to help California and other states facing power crises this
summer, and hopes to put it on a fast track for passage.
Rep. Joe Barton, R-Texas, indicated his proposal would allow waivers of
clean-air regulations that critics say hamper power generation, but would not
include electricity price controls sought by California officials. Barton
backed away from the controversial idea of plugging nuclear-fueled Navy
vessels into the power grid.
Barton -- who chairs the House energy and air quality subcommittee -- said he
hopes to "get some bipartisan consensus" before actually introducing
legislation. But his approach already is alienating some Democrats.
"The clean-air moves would be an enormous problem," said a spokesman for Rep.
Henry Waxman, D-Los Angeles, a subcommittee member. "If you're not doing
(price controls) and instead weakening clean-air laws, you're not really
doing anything."
Capitol Hill sources said Barton won't introduce a bill if it appears
subcommittee members from Western states would be able to attach language
calling for price controls. He is also awaiting a green light from the White
House, the sources said.
Democrats from California, Oregon and Washington, joined by House Minority
Leader Richard Gephardt, D-Mo., introduced a bill Wednesday that would
require federal regulators to impose wholesale price controls in the West for
the next two years and order refunds for high electricity prices dating back
to June 1, 2000. New power plants would be exempt from the price limits,
which would be based on the cost of producing power, plus a profit margin.
In a speech to the National Energy Marketers Association, Barton said he
hopes his subcommittee can pass a bill shortly after Congress returns April
22 from its Easter recess. It would be the first move by Congress to address
the power crunch roiling California and the West and looming in other
regions.
"California is too big a part of our economy, too big a part of our
population base. We can't just say, 'Let California take care of
California,'?" Barton said. " .?.?. Unless we pass a law that says, 'Summer
shall not start in California until September the first,' we've got to do
something right now to help them this summer."
Barton refused to say exactly what he would propose. But he indicated that a
draft bill he planned to circulate among subcommittee members would parallel
proposals he sent to the White House recently.
They included directing the EPA to waive nitrogen oxide emission limits on
power plants if a governor declares an electricity emergency, increasing the
use of backup generators, allowing the start-up of mothballed nuclear power
plants, providing federal funding for the expansion of a crucial Central
Valley power conduit known as Path 15 and directing the Federal Emergency
Management Agency to make plans for blackout response.
Barton said "technical reasons" sidelined his proposal to use nuclear-powered
Navy vessels to keep the lights on in California.
"Plus, you've got some national security issues. Do you really want a nuclear
aircraft carrier that might need to be dispatched to the South China Sea tied
up to the grid in San Diego?" he added.
The Bush administration was said to be less than impressed with the idea.
Barton said he didn't "have any definitive answers" yet from the White House
on his proposals.
Barton did not waver in his opposition to price controls, dismissing them as
"a political expedient that can hold down the price until the next election."
President Bush also opposes price limits.
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-----------------------------------
Treasurer Urges Disclosure of Power Cost
Energy: Angelides warns that $10-billion bond issue to finance purchases
can't be sold otherwise. Davis, who has resisted such a move, sees a chance
of more blackouts.
By MIGUEL BUSTILLO and DAN MORAIN, Times Staff Writers
?????SACRAMENTO--State Treasurer Phil Angelides warned Wednesday that he
cannot sell a record $10 billion in bonds to finance purchases of electricity
unless the state reveals the price it is paying for power--something Gov.
Gray Davis has refused to do.
?????The warning came as Davis acknowledged that his efforts to secure enough
electricity to meet demand could fall short, raising the possibility of more
blackouts.
?????"The real crunch," Davis said Wednesday, "will be in May and June and
late April"--much earlier than the usual peak in August, September and early
October. Angelides said he cannot secure the largest municipal bond offering
in American history until Wall Street can see what California is spending on
power and what it expects to spend in the future.
?????"You can't go to the marketplace to sell $10 billion in bonds and say,
'We don't have a public plan,' " Angelides said.
?????Angelides announced that he has secured $4.1 billion in short-term
"bridge" financing to repay the state for power purchases until the bonds are
issued. That deal remains clouded, in part by the utilities' resistance to
using customer payments to repay the bonds promptly.
?????The governor is scheduled to give a five-minute televised address on
energy at 6:05 tonight, expected to be carried by all Los Angeles television
stations.
?????In addition to discussing the potential for more blackouts, Davis is
expected to outline his efforts to expand power production, renew his call
for Californians to cut electricity use and address the question of rate
hikes.
?????"I'm certainly going to share with [Californians] the progress we've
made and what we have to do together over the near term to get through this
challenge," Davis told reporters. " . . . We have to accept responsibility
for solving the problem. I'm going to lay out exactly how to do that."
?????Sensing the urgency, the Legislature spent much of Wednesday pushing
forward a $1.2-billion package of conservation bills crucial to helping
California escape widespread power outages during the hot season.
?????And in another move to boost summer supplies, the California Energy
Commission approved two "peaking plants" under a new fast-track, 21-day
permit process ordered by Davis.
?????Designed to produce power to meet sudden demand, such plants are a major
part of the governor's plan to help avert blackouts this summer, and
commissioners approved them unanimously. But they expressed qualms about the
vague standards in place for the plants--one to be built near San Diego, the
other in Palm Springs--in part because the facilities have been exempted from
the usual environmental reviews.
?????Most experts assume that peaking plants are pressed into service only
when demand for electricity is highest. But the facilities approved Wednesday
are capable of operating for as much as 85% of the time.
?????The partnership that owns the plants--a venture between Shell Oil and an
arm of engineering giant Bechtel Enterprises--is in talks to sell electricity
to the state for 10 years or more. But current contracts call for the sale of
500 hours of electricity for the next three years, said John Jones, a
representative of the partnership.
?????The company would sell the rest of its electricity on the open market,
presumably at higher prices--and not necessarily in California.
?????Suggesting that the facilities may not fit the definition of peaking
plants, outgoing Commissioner Robert Laurie called for more public disclosure
about the implications of Davis' emergency order.
?????"They may be large; they may be small," Laurie said. "They may operate
300 hours; they may operate 8,000 hours."
?????Measures Focus on Cutting Consumption
?????The conservation bills that lawmakers addressed Wednesday--supported by
environmentalists and the business community alike--represent the largest
such investment in history and are designed to get Californians to cut energy
consumption this summer.
?????The measures would provide everything from rebates for buyers of new,
efficient refrigerators to free power-saving lightbulbs for poor people. All
told, the measures are expected to save California roughly the amount of
electricity produced by eight power plants.
?????Legislators had hoped to get the bills to the governor's desk by the end
of this week, but some turbulence slowed the progress.
?????The trouble began Tuesday, when Assembly Democrats and Republicans from
agricultural areas said they would not vote for the Senate bill, SB 5X, until
it was amended to include programs to help agriculture. Concluding that
opposition might stall the bill in the lower house, Assembly leaders agreed
to the amendments, including one that protects agribusiness from blackouts.
?????That move infuriated the bill's author, Sen. Byron Sher (D-Stanford),
and started a war of words between the houses.
?????"What they did and the way they did it I found a little untoward," said
Senate Leader John Burton (D-San Francisco), calling the agricultural
interests "greedy."
?????In the end, the bill cleared the Assembly by a vote of 74 to 1
Wednesday. It now returns to the Senate. A second conservation bill, AB 29X
by Assemblywoman Christine Kehoe (D-San Diego), containing more than $400
million more for conservation programs, also awaits action there.
?????While the governor has been pushing for the bills, their price tag
exceeds what he has pledged to spend on conservation, and he is expected to
trim the legislation once it arrives on his desk.
?????Concerns About Depleting Treasury
?????Angelides, meanwhile, sent a letter to Davis outlining his problems in
issuing the $10 billion in bonds needed to repay the state for the power it
has been buying on the spot market. To avert mass blackouts, California made
its risky foray into the power-buying business in January after the state's
two largest utilities said they were nearly bankrupt and generators would no
longer sell to them.
?????The state has been buying power at the rate of roughly $50 million a
day. A Davis-sponsored plan calls for the $10 billion in bonds to repay the
state; the bonds, in turn, would be retired by utility customers through
their monthly bills.
?????That plan was based on the premise that the state would be able to
stabilize, and eventually lower, the price of electricity by entering into
long-term contracts with power suppliers. Those lower prices have yet to
materialize, raising increasing questions about whether $10 billion will be
enough.
?????"I think there is no doubt that if we continue to chunk out general fund
money without end, what's going to happen is that we're going to deplete our
treasury, we're going to harm the very programs that we care most about, and
our credit rating will come down," Angelides said.
?????The governor's finance director, Tim Gage, said such fears are
unfounded. Officials have planned all along to release some details on
California's power purchases to the Public Utilities Commission so the panel
could determine how much money is needed to repay the bonds, he said: "I
would think that any information required to sell the bonds will be provided.
. . . I don't know how specific it's going to have to be."
?????Also on Wednesday:
?????* The Assembly and Senate passed a bill placing price caps on large
power users in San Diego, currently the only area in California where some
are feeling the full sting of the deregulation law adopted in 1996. San Diego
was the first and only area where state regulators lifted price caps, the
expected outcome of deregulation. The result last summer was that bills
doubled or tripled virtually overnight.
?????The bill, SB 43 by Sen. Dede Alpert (D-Coronado), would protect medium
and large power users such as businesses, school districts and hospitals from
the full cost of electricity on the open market. Homeowners and other small
consumers are protected under legislation approved last year.
?????* Lawmakers in both houses announced legislation that would place a
windfall profits tax on power companies that sell electricity to California
at excessive prices. "It's time to gouge the gougers," said Assemblywoman
Dion Aroner (D-Berkeley), a sponsor of the Assembly proposal.
?????In the upper house, a bill (SB 1X) that would tax power producers'
profits at an unspecified rate and rebate the money to taxpayers cleared its
first committee hurdle. Davis said he has "an open mind" about the
legislation.
?????Power producers said a windfall tax would do nothing to solve the
fundamental problem--a shortage of electricity--and would have an
inflationary effect because the expense would be passed on to consumers.
?????* California Public Utilities Commission President Loretta Lynch said no
additional electricity rate hikes will be necessary if Californians conserve
energy and electricity producers don't raise prices.
?????Lynch, speaking to reporters after a speech Wednesday at the UCLA
Anderson Business Forecast quarterly meeting on the economy, also said
conservation efforts endorsed by Davis will help keep prices down by reducing
demand.
?????"If we conserve, some of those sellers will get cut out," said Lynch.
---
?????Times staff writers Julie Tamaki, Seema Mehta, Nancy Vogel, Stuart
Silverstein and Jenifer Warren contributed to this story.
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House GOP Moves to Draft Plan to Give the West Summer Energy Aid
By RICHARD SIMON and RICARDO ALONSO-ZALDIVAR, Times Staff Writers
?????WASHINGTON--Congressional Republicans are drafting an emergency bill to
help the West cope with a summer of predicted electricity turmoil, offering
such possible measures as aid to ease a notorious bottleneck in the
California transmission system and directing federal disaster officials to
prepare for power outages.
?????The move came as Democratic criticism of the Bush administration's
response to the power crunch intensified Wednesday. The administration has
become more defensive about criticism that it has left California on its own
to solve its crisis.
?????Rep. Joe Barton (R-Texas), the influential chairman of the House energy
and air quality subcommittee, said he is splicing together the emergency
legislation and hopes to introduce it when Congress returns from the Easter
recess.
?????"We can't just say, 'Let California take care of California,' " Barton
said at an energy conference in Washington.
?????Although the bill will not contain the price caps sought by Democrats
and a handful of Republicans, Barton said in an interview that he will allow
amendments in support of price controls during committee deliberations.
?????"They will have a chance to see whether the votes are there," Barton
said. "I don't think the votes are there, but I see no reason why [supporters
of price controls] can't have the full right to offer an amendment."
?????A list circulated by GOP staff in recent weeks includes a range of ideas
such as relaxing environmental rules, subject to a governor's request;
increasing federal energy assistance to low-income consumers; firing up
mothballed power plants; and directing federal facilities to reduce energy
use by 10%.
?????Some of the ideas are more practical than others. Referring to a
proposal to connect nuclear ships to the electricity grid, Barton said: "Do
you really want a nuclear aircraft carrier that might need to be dispatched
to the South China Sea tied up to the grid in San Diego?"
?????On the issue of relaxing clean air rules--another sensitive point for
Democrats--Barton said his bill would not make permanent changes in
environmental requirements. Instead, it would grant governors the flexibility
to allow power plants that have exceeded emissions limits to temporarily keep
operating during emergencies.
?????That, he contended, would be less harmful than one likely alternative:
individuals and companies relying on their own generators during blackouts.
"It doesn't make a lot of sense to allow diesel generators to kick in and
shut down units that use natural gas," Barton said.
?????Separately, Sen. Frank Murkowski (R-Alaska), chairman of the Senate
Energy and Natural Resources Committee, has asked for an inventory of all
possible energy sources in the West and "what actions will be necessary to
bring those sources online or increase their current generation."
?????But Democrats said that without price controls, Republican-sponsored
bills would be of little help this summer to California.
?????"If it doesn't provide wholesale price caps, it doesn't do what is
needed to help California," said Phil Schiliro, chief of staff for Rep. Henry
A. Waxman (D-Los Angeles).
?????House Democratic Leader Richard Gephardt of Missouri joined a group of
House Democrats from California, Oregon and Washington in unveiling price
control legislation.
?????Rep. Peter A. DeFazio (D-Ore.) accused the Bush administration of
conducting "faith-based regulation" of energy prices. "Flip the switch and
pray the lights come on, and that you'll be able to afford the bill at the
end of the month," he said.
?????The administration contends that price controls will discourage
investment in new power plants. "Price caps don't work," Barton said in
remarks to the National Energy Marketers Assn. "Price caps aren't going to
get you more supply."
?????Sen. Dianne Feinstein (D-Calif.) is preparing to introduce another price
control bill in the Senate. Acknowledging Bush's opposition to price
controls, she said her proposal seeks only "cost-based rates."
?????Price control supporters say they can structure the controls to ensure
that power suppliers recover their costs and make a "reasonable" profit. They
also say they can exempt new power plants in order to address Bush's concerns.
?????Barton warned that the federal measures are unlikely to prevent
blackouts altogether.
?????"It's going to be a tough summer out West. . . . I don't see any
scenario where you don't have severe blackouts on a consistent basis this
summer," he said.
------------------------------------------------------------------------------
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California's Electricity Woes Power Up Northwest
Bonneville agency's sales to Golden State keep rates low for customers up
north. But doubts remain on how long the region can benefit from its federal
dams.
By KIM MURPHY, Times Staff Writer
?????PORTLAND, Ore.--As California searched last summer for surplus
electricity to keep its air conditioners humming, the Bonneville Power
Administration stepped forward to help.
?????How much did the marketing agency charge for each of the 489,000
megawatt-hours it shipped south, power generated by the massive federal
hydropower dams in the Northwest?
?????If you guessed $22.39, the amount BPA charges public utilities in
Seattle, think again. The average price was three times that. And at the
height of the power-marketing frenzy, Bonneville got $750 a megawatt-hour, 33
times what public utilities and private firms in the Pacific Northwest were
paying.
?????As power generators throughout the West profited from California's
energy appetite last year, so too did Northwest customers: BPA netted $400
million from sales to the Golden State, which helped hold down rates for
private electricity users here who already pay the lowest rates in the
nation--half of what Californians pay.
?????And major aluminum, steel and chemical companies across the
region--which not only pay lower rates but also have the right to purchase
certain allotments of energy produced by the federal dams--stand to pocket
$1.8 billion in the next few months by reselling or exchanging their shares
so Bonneville can help California out of its crisis.
?????How long, Northwestern politicians wonder, can the region hold onto the
exclusive benefits of a multibillion-dollar network of 29 federal dams on the
Columbia and Snake rivers--legendary edifices such as Bonneville and Grand
Coulee?
?????How long, others ask, should it be able to?
?????California's two Democratic senators--Dianne Feinstein and Barbara
Boxer--have questioned the fairness of locking in low power rates "for a
select group of consumers, to the detriment of tens of millions of others
whose taxes also paid for the facilities that generate and manage that power
source."
?????Said David Luken of the Edison Electrical Institute, a coalition of
investor-owned utilities: "It would be as if California took all the revenues
from offshore oil and used it to hold down gasoline prices in Los Angeles."
?????Critics estimate that BPA routinely sells its power to customers in the
Northwest for about $1 billion a year less than it could earn at market
rates. Last year, the gap spread to about $3 billion. The BPA is the major
reason homeowners in Seattle are paying 5.4 cents a kilowatt-hour for
electricity; Southern California Edison customers pay 10.2 cents.
?????After suspending sales to California late last year because the power
the BPA was able to generate in the face of an extreme drought was needed in
the Northwest, the agency briefly resumed sending electricity south last
month--dispatching between 600 to 1,000 megawatts an hour for about eight
days between March 7 and March 21.
?????Although officials would not disclose the negotiated price, the market
rate for power then ranged from $210 to $350 a megawatt-hour.
?????Despite the windfall sales to California, however, the BPA has its
problems. With contracts to deliver much more power than it can generate, BPA
has said it would have to institute rate increases totaling $3 billion a year
or more unless it can wean substantial blocs of customers off of federal
power.
?????The belt-tightening threatens the region's aluminum industry and
ratepayers in Washington state, Oregon, Montana and Idaho--some of whom
already have seen their electric bills rise 50% or more over the last few
months.
?????The looming fiscal emergency is so severe that Oregon Gov. John
Kitzhaber recently proposed seeking a temporary reprieve from most of BPA's
annual $732-million debt repayment. That is money to reimburse federal
taxpayers, who funded the region's massive system of concrete and generators.
?????Most Northwestern political leaders are loath to miss a Treasury
payment--as many believe that would leave the agency ripe for plunder.
?????That is the region's greatest fear: that California's hefty
congressional delegation will make a grab for the agency's power.
?????The debate over who controls BPA--and who benefits from it--promises to
emerge as a key question before Congress as the West's energy woes continue.
?????Several Northwestern legislators have proposed buying BPA back from the
federal government in an attempt to lock in benefits for regional ratepayers.
Congressional lawmakers last year countered with a proposal to force
Bonneville to sell low-cost power to private utilities in California. Some
also proposed auctioning BPA power at market rates--ending the cost-based,
regional-preference formula.
?????BPA contracts with about a dozen users--companies such as Alcoa, Kaiser
and Reynolds--that have guaranteed the energy-intensive aluminum industry
access to a fifth of Bonneville's power at rates lower than those paid by
other customers have come under particular scrutiny.
?????The contracts are so lucrative that Kaiser is expected to earn up to
$500 million this year by shutting down its factories and remarketing its BPA
power allocation.
?????BPA cites the aluminum industry's value as a reliable, steady-load
buyer--as opposed to residential utilities, whose fluctuating loads are
harder to serve.
?????But Seattle energy analyst Kevin Bell calls the industry contracts "an
incredibly bad deal." Unable to generate enough power to meet its
commitments, the BPA has been forced to buy power on the open market at 40
cents a kilowatt-hour, supply it to firms such as Kaiser for 2 cents, and
watch Kaiser sell it again for 40 cents.
?????It is, in fact, only the recently deregulated electricity market that
has made BPA power an attractive deal. In the mid-1990s, clients were
flocking away from Bonneville to cheaper generators. Aluminum companies at
the time agreed to prices that were higher than what was available elsewhere,
gambling that the market price would go up.
?????"If we're going to talk about why Bonneville has preferential rates in
the Northwest, shouldn't we also talk about why California has preferential
rates for federal power in California?" said acting BPA administrator Steve
Wright. "Federal policy is, in general, the indigenous electrical power
resources in a region are dedicated to the loads in that region. The power
from Hoover Dam goes to the people in the Southwest. The Central Valley
Project goes to people in Northern California."
?????Bonneville for years has enjoyed a mutually beneficial power exchange
with California. Although the agency often profits from surplus power sales
to California, the majority of the power it has sent south over the years has
been either at low, long-term rates to such cities as Burbank, Glendale and
Pasadena, or as part of an exchange program in which California returns twice
as much as it borrows.
?????And while Bonneville ratepayers profited from the brief period of
sky-high wholesale power rates last summer, its sales represented less than
1% of the California power market and probably had the effect of lowering,
not raising, overall market rates, BPA officials said.
?????Indeed, Bonneville often sold power to California at less than its own
cost-based rates during the first two years of deregulation after 1998.
?????And Northwestern legislators point out that the hydropower dams, for all
their advantages, have come at considerable cost to the region: Two wild
rivers now are throttled. The price for trying to bring back endangered
salmon has reached nearly $4 billion so far, most of it borne by BPA
ratepayers.
?????The question of sharing the hydropower bonanza outside the Northwest
never came up until the 1960s--with the construction of two major power
arteries linking Bonneville's transmission grid with California. The
846-mile-long link between Celio, Ore., and Sylmar is the world's biggest
direct current power line.
?????Before agreeing to the transmission links, Northwestern politicians
insisted on a "regional preference" for BPA power, giving the Northwestern
states first crack at power generated on the Columbia.
?????It is no different today.
?????"Unless we control the destiny of Bonneville, we're not going to control
the Northwest region," said Oregon state Senate President Gene Derfler, who
has proposed a regional takeover of BPA. "California is definitely a threat
at this point. They would take our power, all of it, and say, 'Thank you.'
And what are we going to do about it? They have 52 congressmen; the Northwest
states have 15."
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Davis Campaign Losing Steam
Energy crisis generates possible challengers for governor in 2002
Carla Marinucci, John Wildermuth
Thursday, April 5, 2001
,2001 San Francisco Chronicle
URL:
http://www.sfgate.com/cgi-bin/article.cgi?file=/chronicle/archive/2001/04/05/M
N113404.DTL
Until this week, most Democrats simply scratched their heads over talk about
who might be crazy enough to launch a primary challenge to Gov. Gray Davis in
2002.
After all, the Democratic governor has amassed $26 million in campaign cash,
had 60 percent approval ratings and was being talked about as a guy on the
2004 Democratic presidential list.
That was before the phrases "rolling blackout" and "Stage 3 alert" came into
the California lexicon.
Davis again found himself on the defensive last weekend over the energy
crisis -- but it was in front of a home crowd of Democrats gathered at the
state party convention. Democratic Controller Kathleen Connell opened fire on
the governor, urging him to get off the dime and stop blaming the GOP for the
power crunch.
Meanwhile, grumbling among the party faithful was rampant -- the result of
his failure to cultivate relations with Democratic legislators and grassroots
activists alike, some said.
So, in the semidarkened Anaheim arena where a Stage 2 alert was in effect,
the Demo buzz turned to what might happen in the event the governor's polls
tank, the lights continue to flicker -- and the pressure is on to throw him
over the side and save themselves.
It's all just talk -- but here are some of the names being floated as
possible opponents:
-- State Treasurer Phil Angelides: Angelides, a strong supporter of state
acquisition of power utilities, got national media attention last month when
he announced his proposal to fix the energy crisis -- including the creation
of a state public power authority to provide new generating plants. He talked
tough, and won an enthusiastic response at the convention, when he warned:
"Out-of-state generators: If you do not take your foot off our throats . . .
you may leave us no option but to (take) your power plants."
A successful developer, Angelides is one of the few Democrats who may not be
intimidated by Davis' $26 million war chest. "If he's invested wisely in the
past few years, that'd be chump change," said one insider.
-- State Controller Kathleen Connell: Connell blasted Davis last weekend,
telling The Chronicle that "the emperor has no clothes" on the energy crisis
and that voters will soon tire of him putting blame on former Gov. Pete
Wilson.
The governor's people say the talk was born of desperation: She faces term
limits as controller and is lagging in the polls in her race for Los Angeles
mayor.
-- State Sen. Don Perata: Yes, a real longshot, some delegates said, but the
politically hungry and talkative East Bay pol has been offering tough
assessments of Davis' performance on energy recently. He'd have a lot of work
in getting more name ID statewide, but Perata is a master at corralling free
media. Lately, he's been on the tube, morning and night, far more than Davis,
with proposals on energy and education -- two of the governor's favorite
topics.
In addition to the governor's race, candidates are maneuvering for so- called
"down ballot" stateside contests next year.
No widely known Democrat is expected to challenge Lt. Gov. Cruz Bustamante or
Attorney General Bill Lockyer for their current spots.
But term limits will be putting plenty of politicians out of work, and the
Democrats' sweep of statewide offices in 1998 has left few open spots for the
ambitious.
Some of the Democratic primary races shaping up:
-- Secretary of state: March Fong Eu, who held the job from 1974 to 1994,
before term limits, has announced she's running again. John Garamendi, the
state's first elected insurance commissioner and a former longtime
legislator, is in, as is Michela Alioto, who lost to incumbent Republican
Bill Jones four years ago. San Francisco Assemblyman Kevin Shelley also is
considering a run.
-- Insurance commissioner: Judge Harry Low has not yet decided whether he
will try to keep the office he was appointed to last year after Republican
Chuck Quackenbush resigned amid scandal. If he doesn't, word is that Sen.
Jackie Speier, D-Hillsborough, may run.
-- State Board of Equalization: San Francisco Assemblywoman Carole Migden,
another victim of term limits, is looking to replace Democrat Johan Klehs in
a district that would extend from the Oregon border to Santa Cruz.
"I've got $1 million in the bank, and I know the area," said Migden, who
expects little competition for the seat. "I'd also be the first woman to
serve on the board." Besides, she said, "It will be nice to get into my car
and drive up to Humboldt County to talk to people. It will get me away from
some of the head games in Sacramento."
E-mail the authors at [email protected] and
[email protected].
,2001 San Francisco Chronicle ? Page?A - 7
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Crisis Takes Toll On State Economy
DAVIS'S SPEECH: Possible tax on generators
Lynda Gledhill, Greg Lucas, Chronicle Sacramento Bureau
Thursday, April 5, 2001
,2001 San Francisco Chronicle
URL:
http://www.sfgate.com/cgi-bin/article.cgi?file=/chronicle/archive/2001/04/05/M
N108119.DTL
Sacramento -- On the eve of a statewide television address by Gov. Gray
Davis, action by lawmakers stalled on nearly $1.4 billion in state programs
to stimulate energy conservation.
Penalizing generators for huge profits they have raked in during California's
energy crisis is just one point Davis may bring up during tonight's speech.
"I'm of an open mind about that subject," he said after a two-hour meeting
with Assembly Republicans. "I generally don't think making a profit is wrong,
but these profits have been excessive."
The governor also is expected to discuss recently approved rate increases,
sweeping conservation efforts and new power plant construction when the
cameras come on at 6:05 p.m.
The unusual address -- the first by a California governor in nine years --
comes amid growing criticism that Davis has not done enough to solve the
deepening crisis as well as his perceived refusal to keep Californians
informed.
"A lot of what he has been doing and what he's set in motion is not
particularly well known to the average person out there," said Garry South,
Davis' chief political adviser. "It's hard in a state like California to
project specific bits of information outside the context of a paid media
campaign."
Others see the address as a strong indicator that Davis realizes he is losing
favor with voters.
Earlier this year, Davis was widely seen as a leader in resolving the mess.
DAVIS SLIPPING IN POLLS
That has changed. Recent polls by Assembly Democrats and the Service
Employees International Union have shown Davis' popularity -- and that of
other incumbent lawmakers -- dropping like a stone.
As the crisis deepens, there are mounting calls in Sacramento for the state
to use the power of eminent domain to take over private power plants.
California's flawed 1996 deregulation plan required major utilities to sell
many of their power plants to private companies. State Sens. Don Perata,
D-Oakland, and Jackie Speier, D-Hillsborough, are among those calling for the
state to start seizing them.
Such a drastic measure is little more than talk right now.
Drawing just as much attention is a bill by Assemblywoman Ellen Corbett, D-
San Leandro, that would impose a windfall-profit tax on the generators.
GENERATORS' PROFITS UP
Many generators have seen their bottom lines swell as wholesale electricity
prices skyrocketed. Lawmakers have yet to define "windfall profits," but some
favor penalizing generators that sell electricity at rates higher than
regulators deem "fair and reasonable."
The tax would allow some of the profits to be returned to consumers or to the
state, which has spent around $4 billion buying electricity since Jan. 17.
Although any windfall-profit tax has a long way to go before reaching Davis'
desk, the governor said yesterday that it is an idea worth considering.
"I'm not saying I would sign it or not sign it," Davis said, "but having a
bill working its way through the Legislature is not an entirely unpleasant
effect."
Anything that might help consumers is sure to please Davis, who is taking
heat because of a Public Utilities Commission decision allowing utilities to
raise rates by an average of 40 percent.
TIERED INCREASES
The increase would be tiered, meaning those who consume the most would pay
the most. Davis, who frequently said he did not want rates to go up, has
denied knowing about the PUC increase.
Davis told Assembly Republicans yesterday that he would mention the increase
during tonight's address. That prompted some lawmakers to speculate he may
endorse a smaller increase and soften the blow by touting subsidies and
rebates for those who conserve electricity.
Conservation has long been the keystone of Davis' energy plan. The governor
is pushing lawmakers to pass nearly $1.4 billion in energy conservation
programs so he can sign the bills before tonight's address. Such an effort is
sure to go down to the wire, however, because the bills sputtered yesterday.
The bills are a cornucopia of grants, rebates, low-interest loans and other
expenditures intended to reward Californians who cut down on consumption.
"This is aimed at giving Californians commonsense tools to begin energy
conservation as soon as possible," said Assemblywoman Christine Kehoe, D-San
Diego.
But the bills stalled yesterday amid partisan squabbling. The Senate held up
an Assembly bill that would spend $408 million on various conservation
efforts because it objected to changes the Assembly made to a Senate
proposal.
The $1.1 billion Senate bill would set aside $240 million in cash and
conservation assistance for the state's poorest ratepayers. The Assembly
passed the bill yesterday after adding several provisions benefiting the
agriculture industry. Senate Democrats complained the amendments penalized
urban consumers.
Davis has become a tireless cheerleader for conservation, but he realizes it
won't be enough to end the crisis.
Yesterday, he indicated for the first time that he would support allowing
private companies and other large users to cut the utilities out of the loop
entirely by contracting directly with generators for power.
Lawmakers in January passed legislation barring such contracts amid fears the
state would have no one to sell power to. But Davis said yesterday that such
a move could preserve the state's creaking electrical grid during the dog
days of summer.
E-mail Lynda Gledhill and Greg Lucas at [email protected] and
[email protected].
,2001 San Francisco Chronicle ? Page?A - 1
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San Jose Looks Past the Energy Crisis
Big server farm OKd in hope the electricity will be there
Maria Alicia Gaura, Chronicle Staff Writer
Thursday, April 5, 2001
,2001 San Francisco Chronicle
URL:
http://www.sfgate.com/cgi-bin/article.cgi?file=/chronicle/archive/2001/04/05/M
N142441.DTL
Even as the blackouts roll and state budget reserves are drained to purchase
electricity, some Silicon Valley officials are confident that California's
energy crisis will be relatively short lived.
That may explain why a proposal to build the world's largest server farm
sailed through San Jose's approval process this week, despite the fact that
the project will consume as much electricity as all the homes in Bakersfield.
"The state is predicting that there will be a whole bunch of new electrical
power being generated in the next two or three years," said San Jose
Councilman Chuck Reed. "We could eventually be back in the position where
(generators) are begging people to buy their power, like they did in the
1980s. "
The fact that San Jose-based U.S. DataPort wants to build here at all
indicates that even energy-dependent businesses are betting on a rapid
solution to California's energy crisis.
"I am confident about that, and I think the rest of my colleagues in the area
are as well," said Grant Sedgwick, president and CEO of San Jose based U. S.
DataPort. "It won't happen overnight, but in practical terms, we are
embarking on a five- to six-year project right now. I think that halfway
through, this (energy crisis) will be a part of history."
The project approved by the San Jose City Council Tuesday night -- industry
insiders prefer the term "Internet data center" to the less-dignified "server
farm" -- will be the world's largest, able to handle as much as 15 percent of
global Internet traffic.
The $1.2 billion project will comprise 10 huge air-conditioned warehouses on
174 acres, stacked with the computers that run the Internet. The facility is
expected to consume 180 megawatts of electricity when fully built out. There
are scores of smaller server farms in the Silicon Valley area, but none that
comes close to the size, scope and energy draw of the U.S. DataPort facility.
What is significant about all such data centers is that any interruption of
power wreaks havoc on their equipment. In recognition of the current
precarious state of California's electricity grid, U.S. DataPort will build a
small natural-gas fired power plant capable of producing 30 megawatts of
reliable power to supply phase one of its project. That supply will be backed
up more than 80 enormous diesel generators capable of switching on without
missing a beat.
But in order to acquire city permits for additional buildings, the company
will have to devise a plan for additional energy generation on-site, and come
up with a way to eliminate the backup generators that run on highly polluting
diesel fuel.
The company will not necessarily be required to build the extra generating
capacity, or to eliminate the generators. Everything depends on what happens
to California's economy and energy situation in coming years.
"We will be self-sufficient (in energy) for the first couple of years," said
John Mogannam, senior vice-president of U.S. DataPort. "After that, we do
believe that the energy problem will be behind us, and there will be
sufficient energy available on the grid.
"But the City Council has given us a very strong message that we need to seek
ways to (eventually) remove those diesel engines from the site. Building a
full-sized power plant is one option that we will be looking into."
U.S. DataPort is now building a similar-sized data facility in Virginia that
will be powered by a 250-megawatt gas-powered turbine, Mogannam said.
Something similar might work in San Jose, although any final decision on
whether to build will be years away.
Company officials will also study a variety of alternative energy sources,
with the hope that improved technology may make such options viable in the
coming years.
Opponents of the San Jose server farm charge that key portions of the project
are illegally vague. The Santa Clara Valley Chapter of the Audubon Society
may consider a lawsuit challenging the council's approval of the project.
"The biggest potential issue here is that the law doesn't allow you to break
a project into little segments and sneak it into a community," said Craig
Breon, executive director of the group. "If your true plans are to build a
250-megawatt plant in the Alviso area, you have to inform the community. You
have to study it in the environmental documents."
Especially troubling is the suspicion that council members approved the
project with an eye on uncertain future scenarios, Breon said. "They are
talking about a single power plant, but in the meantime we are getting more
diesel with this project than at any other single site in the Bay Area," he
said. "Any way you look at it, it's a major air pollution source."
Mogannam acknowledged that plans for completing the project, including
construction of a power plant, were vague, but pointed out that the city had
final say over any plans for the site.
E-mail Maria Gaura at [email protected].
,2001 San Francisco Chronicle ? Page?A - 15
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More Unpaid Power Plants Face Closing
Owners slam PUC silence about bills
David Lazarus, Chronicle Staff Writer
Thursday, April 5, 2001
,2001 San Francisco Chronicle
URL:
http://www.sfgate.com/cgi-bin/article.cgi?file=/chronicle/archive/2001/04/05/B
U224271.DTL
As state officials struggle to reduce California's mounting energy debts,
smaller power companies warned yesterday that more plants will shut down --
increasing the likelihood of blackouts -- until they get paid all the money
they are owed.
The California Cogeneration Council, an association of small, gas-fired plant
owners, appealed to the Federal Energy Regulatory Commission for help in
recouping sky-high operating costs from utilities.
The council's move followed a lawsuit filed Tuesday against PG&E Corp. by one
plant operator, Dynamis Inc. The company charges that it was forced to shut
down because PG&E has yet to pay for more than $3 million worth of power.
"You're going to see more lawsuits and more plants closing," council
Executive Director Ann MacLeod said in San Francisco. "The blackout situation
is just going to get worse."
Smaller generators -- known in industry parlance as "qualifying facilities"
or "QFs" -- are owed hundreds of millions of dollars by PG&E and Southern
California Edison for electricity received since last fall.
Half of the roughly 600 QF plants were shut down last month, contributing to
rolling blackouts throughout the state. The plant owners said they were
unable to pay for the natural gas needed to keep their facilities running.
In response, the California Public Utilities Commission voted last week to
require utilities to pay the QFs for all future power purchases. However, the
PUC avoided the thornier question of money already owed to the generators.
It also changed the way smaller generators calculate their costs, lowering
the amount that can be charged for natural-gas expenses.
Moreover, the PUC has yet to determine how the limited funds collected from
ratepayers will be divided among the various parties now in line with their
hands out -- QFs, utilities and the state itself, which has spent more than
$4 billion purchasing juice on behalf of PG&E and Edison.
A final decision still may be weeks away. Nevertheless, PUC members trumpeted
last week's order as a solution to all the QFs' troubles.
"At a time when every megawatt is needed, we cannot afford for any production
to be lost due to lack of payment," Commissioner Carl Wood said.
"This allows us to get supply back online," PUC President Loretta Lynch
agreed. "It will get the lights back on in California."
Or will it?
"The PUC is dead wrong," MacLeod said. "It doesn't add up. There's still the
gaping hole of the bills that are past due."
For example, Berry Petroleum Co. near Bakersfield operates three small plants
that provide 100 megawatts to California's electricity system -- enough power
to light 100,000 homes. The company estimates it is owed $27 million by PG&E
and Edison.
Jerry Hoffman, Berry's chief executive officer, said he has had to shut down
four of five generating turbines at his plants, and expects the fifth turbine
to be idled by the end of this week.
"We just can't cover our costs," he said. "And we're not alone. There are a
lot of other QFs shutting down."
Hoffman said he was bewildered by assertions from Gov. Gray Davis' office
that the state is entitled to recoup its energy expenses before anyone else.
"I don't understand how the state can just step to the front of the line when
all this money is owed to us," he said. "We ought to be paid first because we
were generating power first."
In the case of Dynamis, the company shut down its 42-megawatt plant in
February after PG&E paid only 15 cents on the dollar for more than $3 million
in outstanding bills.
"Dynamis simply does not have the financial resources to continue extending
credit to PG&E, particularly given PG&E's refusal to make any past due
payments and with no assurance of payment for any future deliveries," said
Michel Gaucher, the company's owner.
Dynamis is suing for its back payments as well as suspension of its long-
term contract with the utility.
An average 40 percent rate increase approved by the PUC last week will result
in an additional $4.8 billion being collected from consumers each year.
But not one cent will go toward paying off about $14 billion in debt racked
up by PG&E and Edison because of soaring wholesale electricity prices.
That debt has prevented the utilities from making good on their obligations
to QFs, and it may be months before PG&E and Edison are once again on firmer
financial footing.
Until then, many of the generating firms say they will be closing their
doors, which will only exacerbate California's approaching summer of energy
discontent.
"The PUC's decision not to pay back payments was like a 2 by 4 over the
head," MacLeod said. "It told the plant owners that things are just going to
get worse."
E-mail David Lazarus at [email protected].
,2001 San Francisco Chronicle ? Page?D - 1
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California governor plans to address state on energy
JENNIFER COLEMAN, Associated Press Writer
Thursday, April 5, 2001
,2001 Associated Press
URL:
http://www.sfgate.com/cgi-bin/article.cgi?file=/news/archive/2001/04/05/nation
al0614EDT0503.DTL
(04-05) 03:14 PDT SACRAMENTO, Calif. (AP) -- While Gov. Gray Davis prepared
to speak to the state Thursday night about California's energy crisis,
economic forecasters predicted the power crunch would lead to higher taxes
and scrapped public projects.
Davis said Wednesday he hadn't written his five-minute address, but that he
planned to discuss ``the progress that we've made and what we have to get
through.''
Among other things, he was expected to talk about the more than 40 percent
rate increases approved last week by the Public Utilities Commission for
customers of the state's two largest utilities, Pacific Gas and Electric Co.
and Southern California Edison Co. He has asked California television
stations to carry his remarks live.
California has been hit with rolling blackouts and tight power supplies
blamed in part on soaring wholesale electricity costs.
On Wednesday, the state got more bad economic news: The UCLA Anderson
Business Forecast said Californians would face higher taxes and a tighter
state budget because of the billions of state dollars being spent on
emergency power. The blackouts and the state's scrutiny of private power
suppliers also threaten to scare away new businesses, the report said.
Facing continued refusal from federal energy regulators to cap high energy
prices, Davis said Wednesday he would be willing to support a
windfall-profits tax on electric generators that have made a fortune selling
power to California this year.
A bill to that effect was introduced Wednesday in the state Assembly. It
would tax gross receipts that ``significantly exceed'' the cost of producing
power and tax profits of power marketers who have bought power and later sold
it at much higher rates.
``We continue to allow some electricity generators and middlemen to reap
enormous profits on their sales of electricity into the state. This
profiteering must stop,'' Democratic Assemblywoman Ellen Corbett said.
Duke Energy spokesman Tom Williams said he doubted a tax on a selected
industry would be legal. He added that such a tax would discourage generators
from building new power plants in California.
``The governor has made very clear that he is trying to do whatever he can to
increase the amount of generation in California and reduce the price.
Windfall-profits taxes do neither of these,'' Williams said.
Davis said he generally opposes treating profitable companies in that manner,
``but these profits are outrageous and are at our expense. The only things
companies understand is leverage.''
For the first time, Davis also said the state should let companies buy their
power from generators instead of going through the utilities.
The Utility Reform Network and the head of the PUC oppose the idea. They
argue residential customers and small businesses unable to contract with
generators would get stuck with the bill for the billions of dollars the
state has and will spend buying electricity for the customers of the
cash-strapped utilities.
------------------------------------------------------------------------------
----------------
Critics question effectiveness of energy rebates
DON THOMPSON, Associated Press Writer
Thursday, April 5, 2001
,2001 Associated Press
URL:
http://www.sfgate.com/cgi-bin/article.cgi?file=/news/archive/2001/04/05/state0
301EDT0100.DTL
(04-05) 00:01 PDT SACRAMENTO (AP) -- Lawmakers Wednesday debated spending
$1.1 billion on conservation programs for energy-strapped California, even as
some critics questioned the effectiveness of rebates and other incentives in
cutting power use.
State officials are counting on consumer conservation to help get California
through high summer power demand as the state faces a tight power supply and
high wholesale energy prices.
The Assembly on Wednesday approved a $710 million conservation package
designed to complement a $408 million conservation measure awaiting Senate
action. Each bill must return to the other house before going to the
governor.
Gov. Gray Davis four weeks ago asked lawmakers to approve $404 million in new
conservation spending to augment $424 million in existing programs. He said
the conservation efforts together could cut 3,700 megawatts from this
summer's power use. That's enough power for more than 2.7 million households.
The measures include rebates for fluorescent lightbulbs and energy-efficient
home appliances.
Such programs appear popular with consumers; Southern California Edison
recently started publicizing its rebates with bill inserts and door hangers,
and in two weeks has received 3,500 responses from interested consumers.
San Diego Gas & Electric distributed what was supposed to be a three-month
supply of energy-efficient lightbulbs in two months, and likely will soon
exhaust $19.4 million in residential conservation incentives that was
supposed to last all year.
Yet critics question whether rebate programs produce the energy savings they
promise.
``Most of these programs end up being a wash,'' said Jerry Taylor, director
of Natural Resource Studies at the conservative Cato Institute in Washington,
D.C.
Many residents who claim the rebates would have purchased the
energy-efficient products anyway, and the incentives aren't likely to
convince those uninterested in conservation to buy expensive energy-efficient
products, Taylor said.
Some programs also can have unintended consequences, he said.
Installing energy-saving air conditioners, for instance, can result in a
``rebound effect'': People rationalize that they can afford to use their
air-conditioning more, Taylor said.
And people who buy new refrigerators often simply move their old ones to the
basement or garage as a spare, he said.
Legislators and utilities are trying to avoid some of the pitfalls, mainly by
offering bonuses to people who turn in their old appliances.
Edison, for example, says it takes into account those who would have
purchased energy-efficient appliances without the rebates.
Even discounting those ``free riders,'' residential rebates are expected to
cut more than 100 million kilowatt hours this year, said Lynda Ziegler,
Edison's director of business and regulatory planning.
That's enough to power 16,700 homes for a year.
Utility-offered rebates vary by company.
Pacific Gas and Electric Co. offers $75, Edison $100, and SDG&E $100 to $150,
depending on the model, for Energy Star-rated refrigerators that generally
sell for more than $1,000.
Some groups contend legislators and utilities haven't been aggressive enough
in promoting conservation.
Five conservation groups joined forces Wednesday to accuse lawmakers of
taking too long to act.
One of them, the California Public Interest Research Group, released a report
touting conservation and renewable energy programs as the key to resolving
electricity problems across the West.
The San Diego-based Utility Consumers Action Network questions whether
utilities have done their best to publicize incentives that in fact take
money out of their corporate pockets.
In a sharply worded letter to PG&E President and CEO Gordon Smith last week,
the state's top utility regulator, California Public Utilities Commission
President Loretta Lynch, said the utility isn't moving quickly enough to
publicize conservation programs.
Smith replied that the programs PG&E instituted late last month ``are ahead
of schedule and exceeding expectations.''
Utilities have made rebates easier to obtain, said Edison's Ziegler and UCAN
energy analyst Jodi Beebe.
``Up until recently it was incredibly difficult for your average Joe to get
their hands on these rebates,'' Beebe said.
Beebe said the information still doesn't reach many consumers at the point of
sale.
Most grocery stores don't carry energy-efficient light bulbs, for instance;
consumers have to make a special trip to a home improvement store. Retailers
often fail to do enough to publicize rebates on specific appliances, Beebe
said.
``It may have some sort of energy-efficient label on it, but people see the
price tag and walk away,'' she said.
That was the case Wednesday at Filco Discount Centers in Sacramento, where
several customers made energy efficiency a top priority -- but steered away
from the top-dollar appliances that carry the Energy Star label and typically
qualify for utility rebates.
Ernest and Monica Marks of Sacramento said they have cut power use in half to
counter soaring electric rates.
But they turned away from an Energy Star refrigerator after one look at the
$1,399 price tag.
They and other Filco customers were unaware of rebates, and a trio of
salesmen there said that is typical.
``People are going to buy energy-efficient appliances whether there are
rebates or not,'' said salesman Mark Brandes. ``The rebates are nice, but I
can't say that it spurs any sales.''
Consumers who can afford the more expensive models are lured by energy-use
savings that manufacturers say can top $100 a year on clothes washers and
dishwashers, Brandes said.
UCAN's Beebe and lawmakers including Senate leader John Burton, D-San
Francisco, worry that means the rebates won't go to the residents who need
them most: those with lower incomes who often buy old used appliances.
------------------------------------------------------------------------------
----------------
Developments in California's energy crisis
The Associated Press
Thursday, April 5, 2001
,2001 Associated Press
URL:
http://www.sfgate.com/cgi-bin/article.cgi?file=/news/archive/2001/04/05/state0
939EDT0163.DTL
, , -- (04-05) 06:39 PDT Here is a look at developments in California's
energy crisis:<
THURSDAY:< ?-- Gov. Gray Davis addresses the state on energy, planning a 6:05 p.m. ?five-minute broadcast from his office. ?-- No power alerts were called during the morning as energy reserves stayed ?above 7 percent. ?WEDNESDAY:<
-- Economic forecasters say Californians will pay higher taxes, out-of-state
investments could dry up, and public projects will be scrapped because of the
state's power crisis. The UCLA Anderson Forecast says the worst economic
threat could come from state government itself and its scrutiny of private
power suppliers, which along with blackouts and brownouts, could scare new
businesses away.
-- The state is free of power alerts as reserves stay above 7 percent.
-- The Legislature sends Davis a bill extending a rate cap for San Diego Gas
& Electric's residential and small-business customers to medium and large
businesses.
-- The Senate Appropriations Committee sends the Senate a $408 million energy
conservation measure that would provide grants and loans to improve energy
efficiency at homes, businesses and government agencies. The state Energy
Commission estimates the bill could save 1,700 megawatts this summer, enough
power for nearly 1.3 million homes.
-- An Assembly committee rejects a bill by Assemblyman Dean Florez,
D-Shafter, that he calls an alternative to Gov. Gray Davis' plan to buy the
transmission lines of financially strapped Southern California Edison,
Pacific Gas and Electric Co. and San Diego Gas & Electric Co.
Florez' bill would create special districts of each utilities' properties,
including their land, transmission lines, power plants and even their
corporate offices. Each district would issue bonds against the property, and
the state would assess a tax on that property to repay the bonds. If a
utility defaulted on the taxes, the state would be first in line to take the
property after paying the balance of the bonds.
-- Congressional Democrats including Reps. Mike Honda and Anna Eshoo of
California announce legislation that would impose power rates based on the
cost of service and let Western states recover overcharges by power
suppliers. Honda accuses the Federal Energy Regulatory Commission of failing
to protect California utility customers by taking such steps on its own.
<
WHAT'S NEXT:< ?-- The Davis administration continues negotiations with Edison, PG&E and San ?Diego Gas & Electric Co. over state acquisition of their transmission lines. ?-- FERC holds a conference Tuesday in Boise, Idaho, on Western energy issues. ?-- Edison and PG&E are expected to file their 2000 earnings reports April 17. ?-- The Assembly plans to resume hearings in its inquiry into California's ?highest-in-the-nation natural gas prices April 18. ?< ?THE PROBLEM:<
High demand, high wholesale energy costs, transmission glitches and a tight
supply worsened by scarce hydroelectric power in the Northwest and
maintenance at aging California power plants are all factors in California's
electricity crisis.
Edison and PG&E say they've lost nearly $14 billion since June to high
wholesale prices that the state's electricity deregulation law bars them from
passing onto ratepayers, and are close to bankruptcy.
Electricity and natural gas suppliers, scared off by the two companies' poor
credit ratings, are refusing to sell to them, leading the state in January to
start buying power for the utilities' nearly 9 million residential and
business customers.
,2001 Associated Press ?
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Sharp dispute on economic impact in California
Posted at 11:11 p.m. PDT Wednesday, April 4, 2001
BY JENNIFER BJORHUS
Mercury News
In the midst of California's energy angst comes a report from the state's
pre-eminent economic forecasters that may surprise many.
The UCLA Business Forecast, issued Wednesday, concludes that the billions the
state could spend on power will do little more than dent the state's $1.25
trillion economy. Calling the state's rolling blackouts a ``nuisance,''
economist Christopher Thornberg concludes that ``an hour without power can be
viewed as an extended coffee break for most businesses.''
That cheerful prediction drew sharp criticism from other economists and the
business community, but none took issue with a more ominous point highlighted
by the report: There is a dearth of information about just what economic toll
the energy crisis will take on the world's seventh largest economy.
What is the bill for a 36 percent increase in electricity rates, soaring
natural gas bills, the lost output of companies shut down by outages and
costly state electricity purchases?
State financial analysts do not know.
And neither does anyone else, it seems, although estimates range as high as
$100 billion.
Although he expressed doubt about being able to determine the financial hit,
Thornberg said, ``I have a feeling that eventually I'm going to have to sit
down and try.''
In his report, Thornberg estimated the state would spend $30 billion on
electricity. But he did not calculate the total financial impact of high gas
bills or the impact the crisis will have on such things as disposable income,
productivity, inflation and job growth.
Still, Thornberg said, he thinks the crisis will drive up business costs here
just 1 or 2 percent.
``I don't think it's that big a deal,'' he said.
Tell that to dairy processors who have thrown out spoiled milk, or plastics
manufacturer Paul Strong, who reports his Simi Valley company lost $250,000
last year when it was forced to shut down while molten plastic hardened in
the molds.
``Overly cavalier,'' said Allan Zaremberg, president of the California
Chamber of Commerce, explaining that rolling blackouts are a serious problem
for his members.
``Ridiculous,'' snorted Michael Boccadoro, executive director of the
Agricultural Energy Consumers Association.
As part of its state budget-making, California's Department of Finance has
started revising its economic forecast for California to account for power
problems. The analysts will issue the revision around May 15, said the
state's chief economist Ted Gibson.
The Bay Area Economic Forum, too, is working with McKinsey & Company to study
the economic effects on the region. The group expects to finish its analysis
in about two weeks.
For now, lawmakers and others trying to craft solutions are dealing with
dribs and drabs of numbers. Gov. Gray Davis has refused to release details of
the state's power purchases, prompting several news organizations to sue and
other Sacramento politicians to question his decision.
While California operates in the dark, Washington state has already done an
analysis.
State fiscal analysts in Washington did a small study of the energy check
being handed to the state. They concluded that rising electricity and natural
gas prices will erode disposable income by $1.7 billion a year and slow job
growth by half a percent, costing 43,000 jobs that otherwise would have been
added over three years. Energy problems could also tip the state into
recession, the study warns.
``It's a worst-case scenario that presumes nothing is done,'' said Ed
Penhale, spokesman for the Washington Office of Financial Management. ``It's
pretty basic modeling.''
Various California politicians have taken a shot at estimates.
State Controller Kathleen Connell has said the state will spend $26.8 billion
buying energy over the next 18 months, rate increases will cost ratepayers $7
billion and bond financing will cost $12.4 billion. That alone totals about
$46 billion, not including $9 billion to buy the utilities' power grids.
Steve Cochrane, senior economist at Economy.com near Philadelphia, Pa.,
warned that the increase in retail electricity prices will cut disposable
income, slow the California economy and push an already high inflation rate
higher.
Unless businesses save on power costs through more conservation, the increase
in electricity costs alone will push up the price of goods and services
produced in California about 6 percent. Already, he pointed out, the area's
6.5 percent inflation is double the nation's.
Cochrane's team is trying to build a model to measure the impact, he said,
adding that he is ``much more alarmed'' than Thornberg.
``The whole country is watching this,'' Cochrane said.
He said slowing job growth, slowing retail sales, lost productivity and
reduced disposable income, together with energy purchases could total $100
billion.
More worrisome, Cochrane said, are the long-term effects on the California
economy over the next 10 years. Higher energy costs will make businesses
think hard about expanding in the state, he said. And wiping out the general
fund surplus means the state will not have the cash to spend on things like
new schools and public works projects, undertakings that produce jobs.
Jack Kyser, chief economist for the Los Angeles County Economic Development
Corporation, agrees. Kyser estimated that rolling blackouts during just two
weeks in January alone cost businesses in his area around $500 million.
``Maybe it's because I'm too close to it. I think that this has the potential
to seriously affect the state,'' said Vince Signorotti, spokesman for
CalEnergy, a geothermal generator in southern California that is suing
Southern California Edison for money it has not been paid for power. ``To
ignore the colossal impact that this could have, it's sort of myopic.''
Contact Jennifer Bjorhus at [email protected] or (408) 920-5660.
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Gov. Davis prepares to address state on energy
Posted at 6:40 a.m. PDT Thursday, April 5, 2001
BY JENNIFER COLEMAN
Associated Press Writer
SACRAMENTO (AP) -- While California Gov. Gray Davis prepared to address the
state Thursday night on energy, economic forecasters predicted his
constitutents will pay higher taxes, watch out-of-state investments evaporate
and suffer scrapped public projects because of the ongoing power crisis.
The UCLA Anderson Forecast says the worst economic threat could come from
state government itself and its scrutiny of private power suppliers, which
along with blackouts and brownouts, could scare new businesses away.
Davis addressed some commercial concerns Wednesday by breaking with his
appointees on the Public Utilities Commission by saying private companies and
other large power users should be allowed to contract directly for power with
generators.
Critics of allowing direct access include PUC President Loretta Lynch and The
Utility Reform Network, who say residential customers and small businesses
unable to garner such contracts will get stuck with the bill for the billions
of dollars the state has and will spend buying electricity for the customers
of three cash-strapped utilities.
Word came from California's treasurer Wednesday that the state had secured
$4.1 billion in loans to help pay back the state's power buys.
Facing continued refusal from federal energy regulators to cap high energy
prices, Davis reassessed the tools at his disposal Wednesday, saying he is
open to supporting a windfall-profits tax being proposed by lawmakers on
electric generators that have made a fortune selling power to California this
year.
Assemblywoman Ellen Corbett, D-San Leandro, introduced a windfall-profits tax
bill Wednesday that would tax gross receipts that ``significantly exceed''
the cost of producing power.
It would also tax profits of power marketers who have bought power and later
sold it at much higher rates. The rate of the tax was not specified in the
bill, and Corbett said she expects the details to be worked out later.
``We continue to allow some electricity generators and middlemen to reap
enormous profits on their sales of electricity into the state. This
profiteering must stop,'' said Corbett.
Senators on the Revenue and Tax Committee have also inserted similar language
into a pending bill.
Tom Williams, spokesman for Duke Energy, said he doubted a tax on a selected
industry would be legal. The tax would discourage generators from building
new power plants in California, he said.
``The governor has made very clear that he is trying to do whatever he can to
increase the amount of generation in California and reduce the price.
Windfall profits taxes do neither of these,'' said Williams.
``Clearly it would have an adverse affect on our decisions on new investment
or following through on our planned investments,'' he said.
Davis said Wednesday he generally opposes treating profitable companies in
that manner, ``but these profits are outrageous and are at our expense. The
only things companies understand is leverage. I'm not saying I'll sign it and
I'm not saying I won't sign it.''
For the first time, Davis also said the state should let companies buy their
power from generators instead of going through the utilities.
A January law that allowed the state to begin buying power for two nearly
bankrupt utilities barred such side contracts.
``That was done originally with the thought the state would have more power
and no one to sell it to if companies got off the grid,'' Davis said. ``But
our problem is the opposite this summer. If companies want to get off the
grid, we should encourage, not discourage that.''
The Democratic governor's comments came after he met behind closed doors for
more than two hours with Assembly Republicans, who have sharply criticized
his handling of the energy crisis.
``I think everyone agreed there are no political winners unless we resolve
this challenge,'' Davis said. ``There were a lot of suggestions in there I'm
willing to adopt.''
For instance, he agreed that San Diego Gas and Electric customers should have
a different benchmark for receiving 20 percent rebates under his program for
consumers who cut their energy use by 20 percent this summer.
Unlike other Californians, San Diego residents faced soaring rates last
summer and began conserving then, so Davis said they should have to cut 20
percent from 1999 energy use levels instead of using last summer as a
starting point.
Davis said he hasn't written the remarks he will make during a five-minute
address at 6:05 p.m. Thursday that he has asked California television
stations to carry live.
However, he said he will ``share with them (viewers) the progress that we've
made and what we have to get through.''
He is expected to talk about the more than 40 percent rate increases approved
last week by the PUC for customers of Pacific Gas and Electric Co. and
Southern California Edison Co.
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Too much hot air about too little power
Thursday, April 5, 2001
To deal more directly with the energy crisis, Assembly Republicans last week
replaced Assemblyman Bill Campbell of Orange as their leader with Assemblyman
David Cox of Sacramento. Mr. Cox has some good ideas, but we would urge him
not to use the energy crisis, tempting as it may be, for pure political gain.
His mission should be to fix the mess as much as possible before the summer
crunch is upon us.
Mr. Cox is a former Sacramento County Supervisor and served on the Sacramento
Municipal Utility District Board of Directors, giving him some experience in
the electricity field. In an interview, he outlined the party's main goals,
which we found encouraging:
l "We will continue to introduce plans and bills that expedite new supply,"
he said. He criticized Democratic solutions, including Gov. Gray Davis'
proposal to buy the power grid and Assembly Bill 1X, which gave the
government the authority to use bonds to buy power. Neither creates any new
energy, Mr. Cox said. "There is one solution, putting more electrons into the
system," he insisted. He said some Democrats also understand that fact.
l "Get the QFs back on line in a contractual situation," he said. The
qualifying facilities are small producers, usually of alternative sources
such as wind and geothermal power. "They have to see some prospect of getting
the money that's owed to them" by the utilities, which have withheld payments
because of their strapped financial situation. The QFs limited their
production during last month's blackouts. The QFs supply one-third of the
state's power and are crucial to limiting blackouts this summer.
l Conservation.
And, he said the GOP opposes rate increases. He believes natural gas prices
will decline as the weather moderates in Western states and demand slackens.
He said, of course, that the attempted 1996 "deregulation" was flawed. But he
believes real deregulation can work, as it has in other states "if you have
12 percent to 15 percent more supply than demand. You then have competition
and competition brings down rates." By contrast, California has to import
about 20 percent of its power.
Republicans are a minority in both houses of the Legislature. But they
obviously hope to score political gains against the reigning Democrats, who
so far have not been able to shape and communicate an approach to weathering
and recovering from the crisis. Mr. Cox's ideas generally are good -
obviously increasing supply is key - but the Republican opposition to retail
rate increases seems as na<ve (and unbelievable) as the governor's.
The hard truth is that energy prices everywhere have risen, including not
only natural gas but gasoline and diesel fuel.
We would reiterate to Mr. Cox and to the GOP to minimize politically
motivated positions and focus on the merits of a strong recovery plan.
California needs to move beyond politics and toward solutions. Mr. Cox should
help lead the way.
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More pain predicted in electric crisis
Most economists say increases in utility bills will take some toll on the
state's condition - sooner or later.
April 5, 2001
By MARY ANN MILBOURN
and KATE BERRY
The Orange County Register
Californians haven't yet felt the full economic effect of electric rate
increases, but it's coming, many regional economic experts said Wednesday.
The rate hikes are like a $5 billion tax, said economist Anil Puri, dean of
the school of business and economics at California State University,
Fullerton.
"It will have a negative impact on consumer confidence as well as on the
pocketbook," he said. "Prices in general are going up, there are fewer jobs
and falling incomes. Every little bit adds to that misery. You can't ignore
it."
Economists differ about when and how strongly the effect of rising
electricity prices will be felt. That's in part because the effects aren't
yet showing up in economic surveys.
Businesses and consumers, however, report that they are already hurting
because of rising power costs.
Steven Zimmerman, managing director of the Standard & Poor's bond rating
agency, said it's hard to determine right now how much of the state economy
is already being affected by the rate increases and how much is just the
overall slowdown.
"If the energy crisis goes on for some length of time, it will affect the
economy," said Zimmerman, speaking Wednesday at the quarterly UCLA forecast
conference.
Economist Esmail Adibi, director of the Anderson Center for Economic Research
at Chapman University in Orange, said the 9 percent electricity rate increase
in January had little effect because it was offset in large part by a
quarter-percent sales tax cut.
"But the newest increase will be about $4.8 billion in extra cost," said
Adibi, who released his own economic forecast in December. "It's going to
have some negative impact."
The economist who foresees the smallest effect is UCLA visiting Professor
Christopher Thornberg, who told the quarterly UCLA economic forecast
conference that electricity prices would have relatively little economic
effect on the long-term economy.
Thornberg said electricity is such a small part of the overall cost of doing
business that even the companies that have to bear the greatest burden,
paying up to 36 percent more for power, will see little effect on their
bottom line.
Consumers, he said, will be paying more, but it should not affect their
overall spending.
"Certainly it's going to sting. Certainly it's going to decrease profits, but
it's not that big a hit," he said.
Puri, who will release his own economic forecast in May, said Thornberg
appeared to be understating the short-term effect of the rate increases.
UCLA economist Tom Lieser expects that the electricity crisis will have an
effect not only on business, but also on government services, because of the
$14 billion in bonds the state is expected to sell to pay off its electricity
purchases.
"It's nothing that will bankrupt us, but it's money that could have been used
on something else," Lieser said.
UCLA economists, for example, believe what remains of the state surplus will
be used to finance K-12 education, but budgets for universities, prisons,
health care and welfare will not get the funds that had been expected.
Locally, the rate increases are affecting the Orange County budget.
Diane Thomas, county spokeswoman, said only $13.3 million was budgeted for
this fiscal year for electricity and natural gas, about the same as what was
spent last year.
But by the end of the fiscal year on June 30, the county expects to have
spent an additional $2.6 million on electricity and natural gas. Officials
tentatively expect to budget about $18.6 million for fiscal 2001-2002.
Dick Collins, president and chief executive officer of Astech Manufacturing
in Santa Ana, said the rate increases are hurting now.
"We had a 15 percent increase (in electricity costs) in January and (expect)
a 40 percent increase next, so we're talking a 50 percent to 60 percent
increase," said Collins, whose company makes exhaust systems for airplane
engines. "To say that doesn't have an impact is laughable."
He said power costs have run about 5 percent of his total sales, but now he's
looking at a more than 50 percent increase in his electric bill.
Because he needs reliable power, Collins said he is also investing in a
backup diesel generator for $250,000 - 20 percent of his annual capital
budget.
"I think (Thornberg) is na<ve," Collins said.
Consumers, too, are having a tough go of it, said Eugene N. Cramer, a retired
San Clemente engineer, who got hit by San Diego Gas & Electric's increases
last summer.
"When our utility bills went up $300, we didn't buy as much, we decided to
forgo a vacation," he said.
Register staff writer Chris Reed contributed to this report.
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'Windfall tax' on power profits?
Assembly Democrats target profiteering.
April 5, 2001
By Daniel Taub
Bloomberg News
SACRAMENTO - Electricity generators and traders whose profits in California
are deemed to be excessive would pay a "windfall profits" tax under a plan
endorsed by Democrats in the state Assembly.
Assembly Bill 128-X, introduced Wednesday in the Assembly, would impose the
tax retroactive to Jan. 1. The bill's authors haven't decided what percentage
above a generator's or trader's cost to deliver electricity would be deemed
"windfall profits."
"The intent of the bill is to discourage profiteering," said Assemblywoman
Hannah- Beth Jackson, a Democrat from Santa Barbara and one of the bill's
authors.
California's two largest electric utilities, PG&E Corp.'s Pacific Gas &
Electric and Edison International's Southern California Edison, are on the
verge of bankruptcy. They racked up more than $14 billion in losses over the
past year buying power at prices higher than they were allowed to charge
customers.
Gov. Gray Davis has dubbed generators "out-of-state profiteers" who collected
billions of dollars from electricity sales while pushing PG&E and Edison
toward insolvency. California's power-grid manager has alleged that
generators and traders overcharged California by $6.8 billion between May and
February.
Generators criticized Assembly Bill 128-X as being unnecessary and a
disincentive to power sellers wanting to do business in California.
"We have said the rates that we have charged have been just and reasonable
and therefore there is no basis for a windfall tax," said Steve Stengel,
spokesman for Houston-based Dynegy Inc.A windfall-profits tax "does nothing"
to solve the power shortage in California, said Richard Wheatley, spokesman
for Houston-based Reliant Energy Inc., which operates power plants in the
state. The state experienced two days of blackouts last month after power
demand outstripped available supplies.
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PUC chief takes issue with utilities' claims on power crisis
April 5, 2001
By KATE BERRY
The Orange County Register
Loretta Lynch, president of the California Public Utilities Commission, said
Wednesday that California is "in a war" with sellers of electricity -
corporations that she said have drained much of the value out of the
California economy.
Lynchaddressed more than 300 business executives at UCLA's quarterly Anderson
economic forecast conference.
Of the state's electricity crisis, Lynch sought to dispel five myths she said
businesses and consumers believe about the state's power problems:
Utilities claim they were not allowed to enter long-term contracts, which
would have lowered prices. On the contrary, Lynch said utilities were given
the authority nine times to enter contracts to hedge their prices going
forward.
The utilities plan to pass on real electricity costs to consumers on their
bills if they win pending court cases.
Lynch said the utilities are responsible for the risk of higher costs.
"The utilities made their bargain and the Federal Energy Regulatory
Commission blessed that bargain," she said.
Increased electricity supply would cause prices to drop.
"It's not simply a question of supply because if it were, prices would track
demand," Lynch said.
Instead, prices in California remain high during periods of very low demand
including at night, in early morning hours and during winter months when
there is less consumption. In December 1999, when consumption in California
was less than 20,000 megawatts at 10 p.m. on the average day, costs averaged
$24 a megawatt-hour, Lynch said. By comparison, in December 2000, during
periods of the same consumption, electricity prices averaged $212 a
megawatt-hour.
Early rate hikes would have solved everything.
Electricity prices began skyrocketing in December, Lynch maintains, because
FERC lifted a $250 cap on wholesale prices.
"Without price caps, all we do is enable further gaming of the market," she
said.
The market will impose price discipline on energy sellers.
Lynch claimed the decisions that led to deregulation were based on ideology,
not facts. The ideology, she said, led people to assume power generators
would be curbed by market forces. Instead, the generators were able to take
advantage of those forces, she said.
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State borrows $4.1 billion for power
Governor, Water Resources Department must reveal details on buys for three
struggling utilities.
April 5, 2001
By Alexa Haussler
The Associated Press
SACRAMENTO - California has secured $4.1 billion in loans to help pay back
state money spent to buy power for three financially struggling utilities,
the state treasurer said Wednesday.
To close the deal, Gov. Gray Davis and the state Department of Water
Resources must release details of how much the state has spent and expects to
spend on the power buys, Treasurer Phil Angelides said.
The loans are needed to preserve state government's financial health, he
said.
"If we continue to chunk out of the general fund without end, we're going to
deplete our treasury, we're going to harm the very programs that we care
about and our credit rating will come down," Angelides said.
Angelides delivered a letter to Davis on Wednesday detailing the terms of the
loan and pressing him to reveal details of the state's past and expected
power purchases. Davis' director of finance, Tim Gage, said Angelides' letter
was "old news."
"The treasurer is well aware of the extensive due diligence being conducted
by the Department of Water Resources in preparing the revenue requirements
and cash flow analysis for power purchases to be submitted to the (Public
Utilities Commission)," Gage said.
Davis last week asked lawmakers to approve spending another $500 million to
buy power on behalf of the state's three strapped investor-owned utilities,
Southern California Edison, Pacific Gas and Electric and San Diego Gas &
Electric, raising state money committed to the power buys to $4.7 billion.
Davis administration officials told several key Democratic Assembly members
last month that the state's power-buying for the utilities could cost $23
billion by the end of next year.
Angelides said the loans would be provided by J.P. Morgan, Lehman Brothers
and Bear Stearns and would be offered at a 5.38 percent interest rate as long
as they are paid back by Aug. 29.
The state expects to pay them back after issuing revenue bonds in May to
raise more money for its power buys, he said. Those bonds will eventually be
repaid by Edison and PG&E customers.
The DWR has bought power for the utilities since early January, when Edison
and PG&E disclosed they were on the verge of bankruptcy and electricity
suppliers began denying credit.
Edison and PG&E say they have lost more than $14 billion since June due to
high wholesale power costs the state's deregulation law blocks them from
recovering from their customers. The San Diego utility is also struggling
with soaring wholesale prices, although unlike the other two much larger
utilities, it has not characterized itself as near bankruptcy.
Standard & Poor's credit-rating agency has had the state under review for
possible downgrade since its power-buying began.
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Electricity notebook
Davis to discuss power crisis in televised address.
April 5, 2001
SACRAMENTO - Gov. Gray Davis, in his first statewide television address
targeting California's energy crisis, tonight will discuss last week's
increase in electricity rates and his attempts to ease the state's power
crisis.
The Democratic governor's five-minute remarks are scheduled for 6:05 p.m. and
will be carried by stations across the state, according to Davis press aide
Steve Maviglio.
"The governor will discuss rates. No discussion of electricity would be
complete without rates. But there are other things. He will also talk about
conservation, generation and the solvency of the state's utilities," Maviglio
said.
Davis has said the recent decision by the state Public Utilities Commission
to boost electricity bills by as much as 36 percent was premature and based
on insufficient data.
He said this week he would soon offer his view of whether rates should have
been increased.
The governor has said for months it was his "hope and expectation" that
electricity rates would not be raised. But in recent weeks he said he would
consider seeking an increase if the "good of the state" required it.
Utility owner, state differ on value of firm's share
SAN DIEGO - Sempra Energy, owner of California's third-largest utility, wants
$1.4 billion for its part of the state's power grid, while state officials
have offered $1.2 billion, Sempra Chief Executive Stephen Baum said.
California officials want to buy the power-transmission assets of
California's utilities to help Edison International and PG&E Corp. pay more
than $14 billion in power- buying debt.
For the plan to work, the state needs the systems of all three utilities,
Baum said.
Edison reached a tentative agreement with the state to sell its power lines
for $2.76 billion last month.
After Edison's final agreement, rescue pacts are expected to be reached with
PG&E and then Sempra, Joseph Fichera, the state's top energy crisis adviser,
said last week.
Sempra will move quickly to close an agreement once its turn comes, Baum
said.
"I hope it goes through and I hope it goes through soon," Baum told an
investors' conference in New York.
San Diego-based Sempra can invest money from the sale more profitably in
power plants in the United States and abroad, he said.
The Legislature would have to approve the transactions.
Blackouts are "inevitable" this summer in California, when demand for
electricity will outstrip supply on the hottest days by as much as 5,000
megawatts, or enough to light 5 million U.S. homes, Baum said.
"I don't see a significant demand reduction and there's not going to be
enough power generation in place," Baum said.
Register staff writer John Howard and Bloomberg News contributed to this
report.
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California Regulators Face Backlash
By MICHAEL LIEDTKE
AP Business Writer
SAN FRANCISCO (AP) via NewsEdge Corporation -
Some Californians have turned to song and rhyme to vent their anger at the
commission that approved electricity rate increases for customers of the
state's cash-strapped utilities.
``Your stench of unspoken arrogance disgusts us,'' said San Francisco
resident David Alt, reading an acerbic poem.
``I'm reading now by candlelight, wrapped in blankets day and night,'' rapped
retired teacher Wellingby Boyce of Davis, drawing applause Tuesday at a
meeting of the Public Utilities Commission.
The commission last week approved rate increases of more than 40 percent for
customers of Pacific Gas and Electric Co. and Southern California Edison Co.
On Wednesday morning, the state was free of power alerts as reserves stayed
above 7 percent. State power grid officials issued a Stage 2 alert _ meaning
reserves were below 5 percent _ on Monday after transmission lines were
downed by high wind, interfering with electricity imported from the
Northwest.
Commissioner Geoffrey Brown dismissed the protesters at Tuesday's meeting as
unruly ``self-appointed activists'' who were long on rhetoric and short on
solutions.
Commission President Loretta Lynch said she believed the protesters conveyed
widespread frustration over the rapidly rising price of power.
``I'm glad people are upset because it means they are paying attention,''
Lynch said. ``Hopefully, we can all band together against the energy
wholesalers responsible for this mess.''
The majority of protesters belonged to the Green Party and a group called
Public Power Now, which are pushing the state to seize control of the
regulated utilities and California's electricity plants.
On Monday, the Public Utilities Commission agreed to investigate the parent
companies of PG&E and SoCal Edison, as well as Sempra Energy Corp., the
holding company for San Diego Gas and Electric, for possible financial
misconduct.
The companies said they have done nothing wrong and described the PUC
investigation as a waste of time.
The inquiry will focus on whether PG&E Corp. and Edison International milked
the nearly bankrupt utilities for cash and hoarded profits from their
unregulated businesses that should have been used to help bail out the
utilities.
Forced to pay more for electricity on the wholesale market than they could
charge their customers under the state's 1996 energy deregulation law, the
two utilities say they have run up combined debts of about $14 billion over
the last 10 months.
Gov. Gray Davis has promised that electricity from new plants will stay in
California, but it is unclear if new power plants can be forced to sell their
electricity to the state, The Sacramento Bee newspaper reported Wednesday.
Attorneys for the state Energy Commission, which has a role in approving new
large power plants, said they believe the state cannot stop them from
exporting power, even in exchange for a rushed environmental review of their
projects.
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ICF Consulting Study Predicts Turning Point in Wholesale Power Markets
FAIRFAX, Va., April 4 /PRNewswire/ via NewsEdge Corporation -
ICF Consulting recently completed the Fourth Edition of its Bulk Power
Outlook subscription study, which concludes that the outlook for the
wholesale power markets is at a turning point. After years of generation
capacity shortages, the number of new plants under construction promises an
end to shortages in one to three years in practically every U.S. regional
power market.
ICF Consulting does not believe this turning point will occur everywhere at
the same time. California, other western states, and some other markets face
potentially serious shortages this summer. "California faces potentially
severe problems this summer," says Judah Rose, managing director of ICF
Consulting's wholesale power practice. "However, even California can expect
to be in balance within three years and prices will moderate and extreme
price spikes will occur less frequently. Also, we are very concerned about
New York City for this summer."
ICF Consulting's previous three editions of Bulk Power Outlook strenuously
warned that the lack of construction would result in extremely high prices
reaching thousands of dollars per MWh. "Since 1995, we advised everyone to
develop generation and/or secure it, even peaking facilities, because prices
were going to skyrocket," says Rose. "At the time, ICF Consulting was the
only entity to anticipate correctly the current high prices and shortages.
Today a different approach is needed."
Using the same ICF Consulting IPM(TM) power model from previous studies, this
Outlook predicts that the current level of plant construction is enough to
solve shortages. Since construction takes two to three years, relief will not
be available this summer. In a few markets, construction is more than
sufficient -- e.g., ERCOT (Texas). "Regulators, consumers, and producers need
to be sensitive to current difficulties and base decisions on future
developments," says Rose. "Moderating oil and gas prices over the same period
also will help lower power prices. In addition, a return to normal hydro
conditions by 2002 will further reinforce the effects of new plant
construction."
The implications of this change in wholesale market conditions are far
ranging. First, regulators can expect market conditions to be more supportive
of deregulation, especially if they facilitate private-sector initiative.
Second, power plant developers will need to be more selective. Third,
unregulated retail sales will be more feasible, reversing a trend of
significant problems in developing retail businesses. "Our findings are not
that markets don't work but rather they don't work perfectly, especially when
barriers combine with lack of experience. We can clearly see a powerful
market response to four years of high prices," Rose concludes.
For more information on this topic or to obtain a copy of Fourth Edition Bulk
Power Outlook study, contact Judah Rose at 703-934-3342 or Elizabeth Kaiga at
703-934-3497.
ICF Consulting, with more than 30 years of experience, is one of the world's
leading professional services firms advising clients on managing global
resources in a sustainable way. ICF Consulting helps clients optimize energy
resources, meet environmental challenges, foster economic and community
development, enhance transportation projects and policies, and manage
information technology resources. ICF Consulting's 800 employees are based in
16 offices around the globe, including offices in Bangkok, Fairfax, London,
Los Angeles, Melbourne, Moscow, New York, San Francisco, Toronto, and
Washington, D.C. The firm reported gross revenue of $109 million in 2000. For
additional information, please visit our Web site at
http://www.icfconsulting.com .
------------------------------------------------------------------------------
---------------------------------------
Thursday, April 5, 2001
By Kathleen McFall
[email protected]
Worldwide energy consumption is projected to grow by 59% over the next two
decades, according to International Energy Outlook 2001 (IEO), a report
released last week by the U.S. Energy Information Administration (EIA). The
IEO is an annual projection of worldwide energy trends for the subsequent
20-year period.
A whopping half of the projected growth is expected to occur in the
developing nations of Asia (including China, India and South Korea) and in
Central and South America, where strong economic growth is expected to spur
robust demand for energy.
The report predicts, in a base-case scenario, that oil prices will remain at
current levels of $25 to $28 per barrel until 2003 when they return to the
price trajectory anticipated in last year's outlook for the mid-term. Last
year, the agency forecasted world oil prices would be $22 per barrel in
constant 1998 U.S. dollars ($36 per barrel in nominal dollars) at the end of
the projection period.
"Persistently high world oil prices, stronger than anticipated economic
recovery in Southeast Asia and robust economic growth in the former Soviet
Union (FSU) have all impacted the mid-term outlook for world energy use," the
current report said.
Natural gas will dominate
The report forecasts that natural gas will remain the fastest growing
component of primary world energy consumption. Over the next two decades, gas
use is projected to nearly double*reaching 162 trillion cubic feet in 2020.
Natural gas is expected to account for the largest increment in electricity
generation (accounting for 41% of the total increment in energy used for
electricity generation).
"Gas use surpassed coal use (on a Btu basis) for the first time in 1999, and
by 2020 it is expected to exceed coal use by 44%," said the report.
While the official forecast is that natural gas will dominate world energy
growth and realize substantial market growth based on extrapolation of
current fundamentals, concern is percolating among some industry players
about the potential demand destruction that could accompany high gas prices,
at least in U.S. markets.
"If we continue to see $5 and $10 gas prices over any extended period of
time, the likelihood that natural gas will capture the market opportunities
that are presented is remote," said Bill Hobbs, president of energy marketing
and trading at Williams Cos. Inc.
In the U.S, high natural gas prices have industry insiders pondering the
possibility of new coal or nuclear plants, an option that just last year
would have seemed politically infeasible.
"I think a healthy gas price is in the $2.50 to $3 range," said Hobbs, as
reported by Reuters, after addressing the Ziff Energy North American Natural
Gas Strategies Conference in Houston.
Recent EIA projections for the domestic gas industry are above these levels.
It is "unlikely that wellhead prices will decline to the level of $2 per
thousand cubic feet of one year ago," Mary J. Hutzler, EIA's director of
forecasting, told a House committee late in March. "In 2001, the average
wellhead price is projected to be about $4.70 per thousand cubic feet."
Nuclear grows, renewables slow
Worldwide, nuclear power will continue to remain viable during the forecast
period, said the IEA report. Global consumption of electricity generated from
nuclear power is expected to increase from 2,396 billion kWh in 1999 to 2,636
billion kWh in 2015 before declining to 2,582 billion kWh at the end of the
forecast period.
"Most of the growth in nuclear capacity in the reference case is expected to
occur in the developing world (particularly developing Asia), where
consumption of electricity from nuclear power is projected to increase by
4.9% per year between 1999 and 2020," said the report. Nuclear growth from
new plants in the industrialized world is not anticipated except in France
and Japan.
Renewable energy use is projected to rise by 53% between 1999 and 2020, but
its current 9% share of total energy consumption will drop to 8% by 2020. The
agency attributes this to the fact that renewable energy will remain costlier
than fossil fuel alternatives. "Despite recent high prices, over the long
term energy prices are forecasted to remain relatively low, constraining the
expansion of hydroelectricity and other renewable resources," the report
said.
"Much of the growth in renewable energy over the next two decades is
attributed to large-scale hydroelectric projects in the developing world,
particularly developing Asia, where China, India and other developing nations
(Malaysia, Nepal and Vietnam, among others) are already building or planning
to build hydro projects that each exceed 1,000 MW," concluded the agency.
Energy intensity improves
In the IEO forecast, energy intensity*energy consumption per dollar of gross
domestic product*in the industrialized world is expected to improve
(decrease) by 1.3% per year between 1999 and 2020, about the same rate of
improvement observed between 1970 and 1999.
"Energy use per person generally declined from 1970 through the mid-1980s,
and then tended to increase as energy prices declined. Per capita energy use
is expected to increase slightly (in the U.S.) through 2020, as efficiency
gains only partially offset higher demand for energy services," said EIA's
Hutzler in her congressional testimony. Energy intensity is also projected to
improve in the developing countries*by 1.4% per year*as their economies begin
to behave more like those of the industrialized countries as a result of
improving standards of living.
Extrapolation of all these trends leads to predictions of growth in carbon
dioxide emissions of 5.8 billion metric tons carbon equivalent in 1990 to 7.8
billion metric tons in 2010 and 9.8 billion metric tons by 2020.
"The rate of worldwide energy and carbon emissions growth would be
considerably higher, except for continued improvements in energy intensity,"
the report said.
Not surprisingly, much of the rise in carbon emissions will occur in the
developing world, where emerging economies are expected to produce the
largest increases in energy consumption despite current low emissions
relative to industrialized countries. Developing countries account for 81% of
the projected increase in carbon dioxide emissions between 1990 and 2010 and
account for 76% between 1990 and 2020. For context, the U.S. produces about
20% of the existing carbon emissions. | {
"pile_set_name": "Enron Emails"
} |
----- Forwarded by Mark Taylor/HOU/ECT on 08/31/2000 10:30 AM -----
Bill Berkeland@ENRON
08/31/2000 09:20 AM
To: Mark Taylor/HOU/ECT@ECT
cc:
Subject: EnergyGateway.com Agreements | {
"pile_set_name": "Enron Emails"
} |
Jacques,
Still trying to close the loop on the $15,000 of extensions. Assuming that
it is worked out today or tomorrow, I would like to get whatever documents
need to be
completed to convey the partnership done. I need to work with the engineer
and architect to get things moving. I am planning on writing a personal
check to the engineer while I am setting up new accounts. Let me know if
there is a reason I should not do this.
Thanks for all your help so far. Between your connections and expertise in
structuring the loan, you saved us from getting into a bad deal.
Phillip | {
"pile_set_name": "Enron Emails"
} |
Louise,
I am sending you a resume I received today. She graduated from the same
university
in Poland I attended (many moons earlier). She recently got an additional
degree in e-commerce.
Vince | {
"pile_set_name": "Enron Emails"
} |
---------------------- Forwarded by Dutch Quigley/HOU/ECT on 05/10/2001 08:22 AM ---------------------------
John Arnold
05/10/2001 08:18 AM
To: Dutch Quigley/HOU/ECT@ECT
cc:
Subject: (01-154) Implementation of New NYMEX Rule 9.11A (Give-Up Trades) IMPORTANT MEMO
---------------------- Forwarded by John Arnold/HOU/ECT on 05/10/2001 08:18 AM ---------------------------
[email protected] on 05/10/2001 07:50:19 AM
To: [email protected]
cc:
Subject: (01-154) Implementation of New NYMEX Rule 9.11A (Give-Up Trades) IMPORTANT MEMO
Notice # 01-154
May 7, 2001
TO:
All NYMEX Division Members and Member Firms
FROM:
Neal L. Wolkoff, Executive Vice President
RE:
Implementation of New NYMEX Rule 9.11A ("Give-Up Trades")
DATE:
May 7, 2001
===========================================================
Please be advised that beginning on the trade date of Friday, June 1, 2001,
new NYMEX Rule 9.11A ("Give-Up Trades") will go into effect.
! In the absence of an applicable give-up agreement, new Rule 9.11A will
define the respective responsibilities/obligations to an order of executing
brokers, customers and Clearing Members.
! The term "executing broker" as used in Rule 9.11A refers to the
registered billing entity, Member Firm or Floor Broker to whom the order is
transmitted.
! Rule 9.11 will provide that, in the absence of an applicable give-up
agreement, a Clearing Member may reject a trade only if: (1) the trade
exceeds trading limits established by the Clearing Member for that customer
that have been communicated to the executing broker as provided by the rule
or (2) the trade is an error for which the executing broker is responsible.
! The new rule also places affirmative obligations on executing brokers
to confirm Clearing Member authorization for an account. For example,
prior to an executing broker accepting and executing an initial order for
any new customer account, such executing broker must confirm with the
Clearing Member by telephonic, electronic or written means, that:
(a) the customer has a valid account with the Clearing Member;
(b) the account number;
(c) the brokerage rate;
(d) the customer is authorized by the Clearing Member to place orders with
the executing broker for that account; and
(e) a listing or summary of persons authorized to place orders for that
account.
Moreover, the executing broker must retain a copy of the authorization or
the specifics of the telephonic confirmation, which includes: opposite
party, date, time, and any other relevant information. The Compliance
Department will conduct periodic audits of such records, and falsification
of such information shall be the basis for disciplinary action.
If you have any questions concerning this new rule, please contact Bernard
Purta, Senior Vice President, Regulatory Affairs and Operations, at (212)
299- 2380; Thomas LaSala, Vice President, NYMEX Compliance Department, at
(212) 299-2897; or Arthur McCoy, Vice President, Financial Surveillance
Section, NYMEX Compliance Department, at (212) 299-2928,
NEW RULE 9.11A ("Give-Up Trades")
(Entire rule is new.)
Rule 9.11A Give-Up Trades
In the absence of a give-up agreement whose terms and conditions govern the
responsibilities/obligations of executing brokers, customers and Clearing
Members, the following rules shall define the respective
responsibilities/obligations of those parties to an order. The "executing
broker", as used in this rule, is the registered billing entity, Member
Firm or Floor Broker to whom the order is transmitted.
(A) Responsibilities/Obligations of Clearing Members
(1). Limits Placed by Clearing Member. A Clearing Member may, in its
discretion, place trading limits on the trades it will accept for give-up
for a customer's account from an executing broker, provided however, that
the executing broker receives prior written or electronic notice from the
Clearing Member of the trading limits on that account. Notice must be
received by the executing broker in a timely manner. A copy of such notice
shall be retained by the Clearing Member.
(2). Trade Rejection. A Clearing Member may reject ("DK") a trade only if:
(1) the trade exceeds the trading limits established under Section I(A) of
this rule for that customer and it has been communicated to the executing
broker as described in Subsection (A); or (2) the trade is an error for
which the executing broker is responsible. If a Clearing Member has a
basis for rejecting a trade, and chooses to do so in accordance with the
provisions of Rule 2.21(B), it must notify the executing broker promptly.
(3). Billing. A Clearing Member will pay all floor brokerage fees incurred
for all transactions executed by the executing broker for the customer and
subsequently accepted by the Clearing Member by means of the ATOM system.
Floor brokerage fees will be agreed upon in advance among the Clearing
Member, customer and the executing broker.
(B) Responsibilities/Obligations of Executing Brokers
(1) Customer Order Placement. An executing broker will be responsible for
determining that all orders are placed or authorized by the customer. Once
an order has been accepted, a broker or the broker's clerk must:
(a) confirm the terms of the order with the customer;
(b) accurately execute the order according to its terms;
(c) confirm the execution of the order to the customer as soon as
practicable; and
(d) transmit such executed order to the Clearing Member as soon as
practicable in accordance with Exchange Rules and procedures.
2. Use of Other Persons. Unless otherwise agreed in writing, the
executing broker is allowed to use the services of another broker in
connection with the broker's obligations under these rules. The executing
broker remains responsible to the customer and Clearing Member under these
rules.
3. Executing Broker Responsibility for Verifying Clearing Member
Authorization. Prior to a broker accepting and executing an initial order
for any new customer account, the executing broker must confirm with the
Clearing Member by telephonic, electronic or written means, that:
(f) the customer has a valid account with the Clearing Member;
(g) the account number;
(h) the brokerage rate;
(i) the customer is authorized by the Clearing Member to place orders with
the executing broker for that account; and
(j) a listing or summary of persons authorized to place orders for that
account.
The executing broker must retain a copy of the authorization or the
specifics of the telephonic confirmation, which includes: opposite party,
date, time, and any other relevant information. The falsification of such
information shall be the basis for disciplinary action.
4. Rejection of Customer Order. Where an executing broker has confirmed
Clearing Member authorization to execute orders on behalf of a customer in
accordance with this Rule 9.11A, the broker may, in the broker's
discretion, reject an order that the customer transmits to the broker for
execution. The broker shall promptly notify the customer and the Clearing
Member(s) of any such rejection.
Carr Futures
150 S. Wacker Dr., Suite 1500
Chicago, IL 60606 USA
Tel: 312-368-6149
Fax: 312-368-2281
[email protected]
http://www.carrfut.com | {
"pile_set_name": "Enron Emails"
} |
Please remember to bring your hand outs from the last session with you
tomorrow at 2:00 p.m. There will be a few extra copies for those who missed
last time. Thank you! | {
"pile_set_name": "Enron Emails"
} |
Positions have been reduced as follows for Aug-00 to adher to the 50%
reduction in the physical side of
block forwards per christian Yoder to the calpx:
Q-00 Total physical position before 50% reduction is (250)
SP-15
LTCA - REDUCED BY 25 MW
LTWMGM -REDUCED BY 25 MW
LTNW -REDUCED BY 50 MW
LTSW -REDUCED BY 25 MW
STCA -REDUCED BY 25 MW
NP-15
LTNW -REDUCED BY 25MW
If you have any questions, please refer them to Bob.
Thank you. | {
"pile_set_name": "Enron Emails"
} |
---------------------- Forwarded by Kay Mann/Corp/Enron on 02/20/2001 04:09
PM ---------------------------
Fritz Rumscheidt@ENRON_DEVELOPMENT
02/20/2001 09:11 AM
To: [email protected]
cc:
Subject: Dick Westfahl Retirement | {
"pile_set_name": "Enron Emails"
} |
well, how is it going down there?
Charles
*****************************************************************************
The information in this email is confidential and may be legally privileged.
It is intended solely for the addressee. Access to this email by anyone else
is unauthorized.
If you are not the intended recipient, any disclosure, copying, distribution
or any action taken or omitted to be taken in reliance on it, is prohibited
and may be unlawful. When addressed to our clients any opinions or advice
contained in this email are subject to the terms and conditions expressed in
the governing KPMG client engagement letter.
***************************************************************************** | {
"pile_set_name": "Enron Emails"
} |
A.98-07-003 - Response to SDG&E to the Assigned Commissioner's Ruling Regarding Comments on Certain Direct Access Issues
Attached for your information are the comments filed today by the Alliance for Retail Energy Markets and the Western Power Trading Forum with regard to the ACR concerning retroactive direct access suspension.
Dan
Law Offices of Daniel W. Douglass
5959 Topanga Canyon Blvd. Suite 244
Woodland Hills, CA 91367
Tel: (818) 596-2201
Fax: (818) 346-6502
[email protected] | {
"pile_set_name": "Enron Emails"
} |
-----Original Message-----
From: Fuller, Dave
Sent: Thursday, October 25, 2001 11:08 AM
To: Dorland, Chris
Cc: Tycholiz, Barry; Brodeur, Stephane
Subject: RE: Sumas cash trade
Chris,
My email probably was a bit out of line, sent out of frustration - my apologies. It was not wise of me to give a trader a heads up on my intent to buy in the first place, going forward I will not do that. I have no expectation of having Stephan manage anyone's price risk. I am hoping to develop Cascade into a long-term Enron customer, I make no origination on the deals I have done with them, I have encouraged them to enter into longer term DI deals and I have hooked them up with EOL - all intended to benefit of the cash desk in Calgary. Next time the market falls $0.12 immediately following a trade I make on behalf of a customer I'll keep my mouth (email) shut.
There is no offence intended by either of these emails and I intend to continue to try and develop more spot and term business for your desk.
Dave
-----Original Message-----
From: Dorland, Chris
Sent: Thursday, October 25, 2001 10:35 AM
To: Fuller, Dave
Cc: Tycholiz, Barry; Brodeur, Stephane
Subject: Sumas cash trade
Dave,
I just wanted to touch base with you on the cash trade that you intermediated between Stephane and Cascade this morning. I don't really feel that it is Stephane's responsibility to manage Cascades price risk and I think that you are out of line for accusing him of running over your customer. If you would like we could look at doing an MSA with Cascade where by we could sell them gas at Sumas DI.
Chris | {
"pile_set_name": "Enron Emails"
} |
FYI:
---------------------- Forwarded by Thomas M Suffield/Corp/Enron on
02/15/2000 04:13 PM ---------------------------
Thomas M Suffield
02/15/2000 04:12 PM
To: Tina Tennant/HOU/ECT@ECT
cc:
Subject: Calpine deal.
Please get this to Ben Rogers.
---------------------- Forwarded by Thomas M Suffield/Corp/Enron on
02/15/2000 04:10 PM ---------------------------
From: Scott Healy @ ECT 02/15/2000 12:51 PM
To: Thomas M Suffield/Corp/Enron@Enron
cc: Ben F Jacoby/HOU/ECT@ECT, Mike J Miller/HOU/ECT@ECT
Subject:
As a follow up to our conversation yesterday, I need indicative pricing for a
three (3) year and a five (5) year tolling option for a peaking plant to be
located in eastern PJM, which would utilize 4 (four) LM-6000 turbines.
Assume a 6/1/2001 start date and a location near Parlin New Jersey. The
structure of the transaction would be as follows:
1. ENA would sell four (4) LM-6000s to Calpine.
2. ENA would permit, construct, own and operate the project.
3. ENA would take back a short-term tolling agreement for the project.
I would like to send Calpine a brief proposal in the net couple of weeks.
How quickly can you come up with indicative pricing for me? | {
"pile_set_name": "Enron Emails"
} |
Hi Louise, NA Gas and Power volumes are at their highest levels (by 8:40 am) since early last week. Overall trade count is down from yesterday, but a lot of yesterday's trades were metals:
TRADE DATE NA GAS NA POWER TOTAL TRADE CNT
11/15/2001 1183 567 2435
11/14/2001 857 472 2530
11/13/2001 1014 554 2139
11/12/2001 1126 430 2269
11/11/2001 7 2 9
11/10/2001 5 8 13
11/9/2001 744 461 1831
11/8/2001 1085 503 2086
11/7/2001 1111 800 2605
11/6/2001 1289 908 2763
11/5/2001 1155 888 2594
11/4/2001 4 3 7
11/3/2001 2 16 18
11/2/2001 1441 629 2547
11/1/2001 1308 813 2806 | {
"pile_set_name": "Enron Emails"
} |
I am hoping we can get together ASAP!!!! You might (and are well on the
way) of becoming an addicion for me. Give me, give me, give me...I need, I
need! Glad you found someone to take my spot in the limo...NOT! How would
you like to ask me to dinner sometime?
_________________________________________________________________
Get your FREE download of MSN Explorer at http://explorer.msn.com/intl.asp | {
"pile_set_name": "Enron Emails"
} |
Steve Here are my slides and a copy of the text regards Margaret | {
"pile_set_name": "Enron Emails"
} |
-----Original Message-----
From: "Cagle, Donna" <[email protected]>@ENRON
[mailto:IMCEANOTES-+22Cagle+2C+20Donna+22+20+3CDCAGLE+40mariner-energy+2Ecom+3
[email protected]]
Sent: Friday, May 18, 2001 11:18 AM
To: Edison, Deborah J.
Cc: Melendrez, Jesus
Subject: Mariner Management Meeting Minutes
<<5-17-01.doc>> <<SUMMARY.xls>>
Donna M. Cagle
Executive Administrator to President & CEO
Mariner Energy, Inc.
580 WestLake Park Blvd., Suite 1300
Houston, TX 77079
281/584-5511 (phone) 281/584-5515 (fax)
[email protected]
- 5-17-01.doc
- SUMMARY.xls | {
"pile_set_name": "Enron Emails"
} |
Although these corporations was incorporated in early 2000, announcement
memos was not prepared at that time because of lack of documentation. To
bring these companies into line with the other Enron subsidiaries, below are
the announcement memos:
Enron Japan Marketing Holdings B.V.:
This corporation was incorporated in the Netherlands on April 20, 2000.
Particulars are:
Parent Company: Enron Asia Pacific/Africa/China LLC - 100%
Business: Unknown
Shares: Authorized ) 10,000 Ordinary, EUR 10.00 par value;
Issued ) 2,000
Directors and officers: Attached
Employees: None (to be confirmed)
Company No.: 1031 EJMH
Enron Japan Holdings B.V.:
This corporation was incorporated in the Netherlands on April 20, 2000.
Particulars are:
Parent Company: Enron Asia Pacific/Africa/China LLC - 100%
Business: Unknown
Shares: Authorized ) 10,000 Ordinary, EUR 10.00 par value;
Issued ) 2,000
Directors and officers: Attached
Employees: None (to be confirmed)
Company No.: 1030 EJHB
NOTE:
Sylvia Hu - evidence to follow by hand.
Nony Flores - Please supply authorization memos to include purposes of
business and confirm whether these entities have employees or not.
Kate B. Cole
Director, Corporate Services
Enron Corp.
Tel: (713) 853-1624
FAX: (713) 646-8007
Email: [email protected] | {
"pile_set_name": "Enron Emails"
} |
Maureen,
I have attached the A&As with top two clusters. This includes the
highlighing.
Please let me know if you need any additional information.
Thanks,
Amy
ext 53375 | {
"pile_set_name": "Enron Emails"
} |
Approved. Please process.
Thanks,
Sally Beck
---------------------- Forwarded by Sally Beck/HOU/ECT on 02/10/2000 12:18 PM
---------------------------
Enron North America Corp.
From: Lynn Tippery 02/09/2000 03:56 PM
To: Sally Beck/HOU/ECT@ECT
cc: Patti Thompson/HOU/ECT@ECT, [email protected]@ECT
Subject: T. Hall's Exp Rpt for Your Apprvl
Hi Sally:
Let's see if I can attach the correct Expense rpt!
Would you pls forward this to "Expense Report" for processing?
Thank you
Lynn x35333 | {
"pile_set_name": "Enron Emails"
} |
FYI
-----Original Message-----
From: Williams, Bill [mailto:[email protected]]
Sent: Wednesday, May 02, 2001 6:53 PM
To: Gilbert, Jim
Cc: Rasmussen, Dale; Thompson, Peter J.
Subject: RE: LV Cogen Turbine Contracts
Jim. Lisa's point is valid. It was confusing to get everything other
than technical information for the b/o contract coordinated. "Others"
had that responsibility. Be that as it may, her questions set before
you in her e mail need to be answered. Peter Thompson should get
responses to those questions to coordinate and amend into the GE B/O
contract, as should Lisa Bills.
Her "general comments" that follow below are comments that Peter
Thompson can incorporate now. I'm not sure if that's clear to everyone.
But that is the case (I called Lisa to ask). And, I'd also like to
propose that any revision to the B/O contract going forward be clearly
defined and tracked with a rev number and date/time so that no confusion
exists as to what version is going around. I would also suggest that
each revision carry a description of what was added and where the add or
change originated. I apologize if it sounds like I'm telling people how
to do their job, but we cannot take any more delay to at least having
this document shelf - ready to sign when the trigger gets pulled.
Cheery Bye
Bill W.
> -----Original Message-----
> From: Gilbert, Jim
> Sent: Wednesday, May 02, 2001 3:06 PM
> To: Bills, Lisa
> Cc: Engeldorf, Roseann; Tweed, Sheila; Clark, Catherine; Kerrigan,
> Brian; Mann, Kay; Rasmussen, Dale; Bill Williams/PDX/ECT@ENRON
> Subject: LV Cogen Turbine Contracts
>
> Lisa:
>
> I have been the lead originator for LVC since we purchased the asset
> in August of 1999. Given all that we are trying to accomplish to
> achieve a successful exit strategy with this asset, I have relied on
> people like Bill Williams and his technical team to move this document
> and other similar efforts forward. Having Bill's support on this
> document has allowed me to focus my efforts on closing the
> negotiations on our tolling agreement required to support the LVCII
> expansion.
>
> After my review of this agreement, along with in put from Bill
> Williams and Dale Rasmussen, I will confirm back to you that your
> comments are appropriately reflected in the turbine contract to obtain
> signed off from ENA Finance.
>
> I'm currently in Denver, please contact me on my cell phone should you
> have any questions.
>
> Thank you,
> Jim
>
> Cell Ph: 503-464-1206
>
>
>
> ---------------------- Forwarded by Jim Gilbert/PDX/ECT on 05/02/2001
> 02:37 PM ---------------------------
> From: Lisa Bills/ENRON@enronXgate on 05/02/2001 03:19 PM CDT
> To:
> Williams@/O=ENRON/OU=NA/CN=RECIPIENTS/CN=NOTESADDR/CN=2C4A79E9-5692F67
> A-8625654B-4F9C03@EX@enronXgate, Stephen Thome/HOU/ECT@ECT, Jim
> Gilbert/PDX/ECT@ECT, [email protected]@SMTP@enronXgate, Dale
> Rasmussen/HOU/ECT@ECT, Ed Clark/PDX/ECT@ECT
> cc: Roseann Engeldorf/ENRON@enronXgate, Sheila Tweed/HOU/ECT@ECT,
> Catherine Clark/ENRON@enronXgate, Brian Kerrigan/ENRON@enronXgate, Kay
> Mann/Corp/Enron@Enron
> Subject: LV Cogen Turbine Contract
>
> Rose and I have reviewed the contract Peter sent to us yesterday - the
> draft distributed on April 24. Rose has already provided our comments
> to Peter on the Override Letter which accompanies the contract. I
> have one big issue which the lawyers can't answer as it is a business
> decision. No one seems sure if Bill is the acting originator for this
> contract or not. I leave it up to the LV Cogen Origination team to
> decide. However, until I receive word back from the appropriate
> person and see my changes reflected in the turbine contract, Finance
> has not signed off on this agreement so it cannot be executed on
> E-Next's behalf.
>
> What is the per UNIT turbine purchase amount? The Purchase Amount is
> a remaining total balance outstanding. In 6.1.2 Payment Schedule, the
> payment amount is a lump sum. However, in the 2nd para. of 5.4
> Cancellation and in 6.1.3 Retention Letter(s) of Credit for example,
> each UNIT is discussed. There needs to be an allocation of the
> Purchase Amount and Payment Amount on a per turbine basis so Finance
> can track these costs as such in case a change order is made to only
> one turbine or if a turbine is removed from E-Next prior to all
> turbines being removed. Also, how does anyone know for 6.1.3 when the
> last $788,500 per Turbine is supposed to be paid so we can retain it?
>
>
> Also, I would appreciate receiving a clarification of why we don't
> define the Purchase Amount as the total and not just the balance
> remaining. It could create discrepancies in the document and for
> anybody reading the document trying to understand how much each
> turbine costs. E-Next has already made the approx $10mm payments made
> to-date. However, if someone were to pick up the document to find out
> how much they could buy the turbines for, it would appear to be
> $53.6mm not the Maximum Liability Amount of $63.1mm. 2nd para of 5.4
> refers to the portion of the Purchase Amount to be adjusted upon
> cancellation. However, Exhibit I Cancellation refers to the Unit
> Liability Amount as the basis for calculation - this seems
> inconsistent to me.
>
>
> Now for the general comments:
>
> Section 1.69 and 1.70 need to change places to be alphabetically
> correct.
>
> 6.1.2 calls for a payment to be made on April 21, 2001. Exhibit I
> Cancellation also has a line for cancellation between March 21 and
> April 20, 2001. This will need to be amended as this payment wasn't
> made given no contract execution yet. As everyone knows also, E-Next
> must be the party to make this payment to insure the correct
> accounting treatment.
>
> 6.5 is another place where a per Unit price is discussed for increases
> or decreases. How is this possible with an aggregate Purchase Amount?
>
> In all Notice sections please delete "c/o Las Vegas Cogeneration II,
> L.L.C." This project is not associated with the E-Next financing.
>
> 10.2.3.1 Please underline "Optional Delivery Point"
>
> 10.12.2 Please delete the " ' " in "it's" after the proviso.
>
> 10.15 The timing of 120 days for delivery of serial numbers herein is
> inconsistent with the bracketed 5 months in 10.2.1 and Exhibit P.
> Please conform all to the same time frame.
>
> Has David Marshall reviewed all the insurance provisions of this
> document. While a standard turbine contract, there have been some
> recent modifications/views from our insurance providers.
>
> I look forward to hearing back from the deal team and reviewing the
> next round of documents.
>
>
>
>
>
>
>
> | {
"pile_set_name": "Enron Emails"
} |
Ok. I'll send it.
Rusty Stevens
07/14/2000 02:42 PM
To: Kay Mann/Corp/Enron@Enron
cc:
Subject: Re: Peoples document
Kay, I noticed that you didn't copy this document to Eric LeDain. In the
interest of time you probably should, but I didn't want to do it for you in
case someone wanted us to look at it first. | {
"pile_set_name": "Enron Emails"
} |
Sorry I took so long to respond, but if they are still interested, I would
like to learn more about it.
----Original Message-----
>From: Christie Patrick/HOU/ECT
>To: Greg Whalley/HOU/ECT@ECT
>Cc: Michael B Rosen/HOU/ECT@ECT,Cindy
Derecskey/Corp/Enron@Enron,Kristin Gandy/NA/Enron@Enron,Paul
LeBeau/NA/Enron@Enron
>Bcc:
>Subj: Speaker for GSB
>Sent: Friday, December 01, 2000 1:38 PM
>
>Hi Greg!
>
>Would you consider doing this? If so, I'll have John McMillan call you
directly.
>
>Thanks!
>
>--Christie.
>---------------------- Forwarded by Christie Patrick/HOU/ECT on
12/01/2000 01:35 PM ---------------------------
>
>
>"McMillan, John" <[email protected]> on 12/01/2000 01:14:14
PM
>To: "'[email protected]'" <[email protected]>
>cc:
>Subject: Speaker for GSB
>
>
>Dear Christie:
>
>John Roberts suggested I contact you. As I believe he told you, I am
running
>an MBA course next quarter entitled "Market Design," in which I will
examine
>how markets are built (ranging from eBay to reforming Russia). Enron, of
>course, is a leader in creating markets, so it would be great if someone
>from Enron could lead a session. (650 724 4549) .
>
>Thank you very much.
>
>Regards,
>John
>
>
>
>John McMillan
>Graduate School of Business
>Stanford University
>Stanford CA 94305-5105
>
>tel: 650 724 4549, fax: 650 725 0468
>
>[email protected]
>http://faculty-gsb.stanford.edu/mcm
>
><truncated...> | {
"pile_set_name": "Enron Emails"
} |
Louise,
Thanks so much for your speedy reply. I will pass your comments on to Dave Walker in Media Relations.
I included Kevin because he is listed with you, Greg and John on a "management" slide. If there are others who should be
included on Greg's core management team for the announcement, please let me know who they are and their titles. Please
also let me know if it is inappropriate to include Kevin. If there is an org chart, that might be helpful, too. It would
allow us to be as inclusive as possible without making the announcement too long.
Thanks again,
Claudia
212-713-8508
-----Original Message-----
From: [email protected] [mailto:[email protected]]
Sent: Tuesday, February 05, 2002 11:16 PM
To: Robinson, Claudia; Petrie, James [UBS]; Eber, Louis [UBS]; Brady,
Penny [UBS]; Keily, Ruth [UBS]; Mitchell, Nikki [UBS];
[email protected]; Lloyd, Andrew-D [UBS]; Hollis, Amanda [UBS];
ODonnell, Pat [UBS]; Dow, Colette [UBS]; [email protected];
[email protected]; [email protected]; Martin, Audrey [UBS]
Cc: Bridges, Mark [UBS]
Subject: RE: Releases
Just a couple of suggested changes to both.
There is a lot of confusion in the energy market as to the ownership
structure of the entity. Enron had previously announced that the entiy
would be 51% New Owner and 49% Enron. We need to ensure this message is
corrected as clearly as possible - that it is 100% UBS owner.
(See attached file: UBSW Energy release draft.doc)
On the release for UBSWenergy.com - we do intend to trade physical gas and
power immediately initially at least in the areas we can, so I have removed
that sentence.
(See attached file: UBSenergycomreleasedraft.doc)
Do you need all of the commercial MD titles or is Kevin picked out for a
particular reason?
Thanks
Louise
-----Original Message-----
From: "Robinson, Claudia" <[email protected]>@ENRON
Sent: Tuesday, February 05, 2002 7:45 PM
To: Petrie, James [UBS]; Eber, Louis [UBS]; Brady, Penny [UBS];
Keily, Ruth [UBS]; Mitchell, Nikki [UBS]; Forster, David;
Lloyd, Andrew-D [UBS]; Hollis, Amanda [UBS]; ODonnell, Pat
[UBS]; Dow, Colette [UBS]; '[email protected]'; Shah, Kal;
Oxley, David; Martin, Audrey [UBS]
Cc: Bridges, Mark [UBS]
Subject: FW: Releases
Attached for your review are drafts of two news releases, one announcing
the closing of the UBS Warburg / Energy
transaction and the other to announce the launch of UBSWenergy.com. The
plan is to issue the closing announcement on
Friday (2/8) at about 8 a.m. New York time. The other is planned for
when the website officially launches, which is
expected on Monday (2/11).
Please forward your comments directly to David P. Walker, head of Media
Relations-Americas, sometime on Wednesday.
Tomorrow, I will send you drafts of the internal announcements for
Friday and Monday. The plan is to issue on Friday a
global UBS Warburg email announcement from John Costas, announcing the
new management. I need from Human Resources
confirmed titles for Louise Kitchen, John Lavorato and Kevin Presto. In
addition, we plan for Friday an email from Greg
Whalley to employees who have signed on with UBS Warburg Energy, with
Costas's announcement attached. (Both will also be
posted on UBS Warburg intranets, including the integration site.) There
will also be internal publicity on the day the
website launches: another email from Whalley to Energy employees and
intranet articles within UBS Warburg, including the
integration site.
Please let me know if you have questions.
Thanks,
Claudia
212-713-8508
> <<UBSenergycomreleasedraft.doc>> <<UBSW Energy release draft.doc>>
- UBSenergycomreleasedraft.doc << File: UBSenergycomreleasedraft.doc >>
- UBSW Energy release draft.doc << File: UBSW Energy release draft.doc
>>
Visit our website at http://www.ubswarburg.com
This message contains confidential information and is intended only
for the individual named. If you are not the named addressee you
should not disseminate, distribute or copy this e-mail. Please
notify the sender immediately by e-mail if you have received this
e-mail by mistake and delete this e-mail from your system.
E-mail transmission cannot be guaranteed to be secure or error-free
as information could be intercepted, corrupted, lost, destroyed,
arrive late or incomplete, or contain viruses. The sender therefore
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of this message which arise as a result of e-mail transmission. If
verification is required please request a hard-copy version. This
message is provided for informational purposes and should not be
construed as a solicitation or offer to buy or sell any securities or
related financial instruments.
**********************************************************************
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.
**********************************************************************
Visit our website at http://www.ubswarburg.com
This message contains confidential information and is intended only
for the individual named. If you are not the named addressee you
should not disseminate, distribute or copy this e-mail. Please
notify the sender immediately by e-mail if you have received this
e-mail by mistake and delete this e-mail from your system.
E-mail transmission cannot be guaranteed to be secure or error-free
as information could be intercepted, corrupted, lost, destroyed,
arrive late or incomplete, or contain viruses. The sender therefore
does not accept liability for any errors or omissions in the contents
of this message which arise as a result of e-mail transmission. If
verification is required please request a hard-copy version. This
message is provided for informational purposes and should not be
construed as a solicitation or offer to buy or sell any securities or
related financial instruments. | {
"pile_set_name": "Enron Emails"
} |
U.S. lawmakers should give federal regulators more authority to help right
the shaky electricity industry restructuring process, according to a former
U.S. congressman.
The Federal Energy Regulatory Commission, and not individual state agencies,
should oversee the siting process for new power plants and interstate
transmission line developments, former U.S. Rep Phil Sharp, an Indiana
Democrat, said Tuesday at a Chicago conference. | {
"pile_set_name": "Enron Emails"
} |
I am ok with it. Mark Haedicke
"JOHN KLAUBERG" <[email protected]>
05/29/2001 09:43 AM
To: [email protected]
cc: [email protected], [email protected], [email protected]
Subject: Proposed Letter to WSJ
Mark: As I am sure you agree, I thought that CA Attorney General Lockyer's
comment last week in the WSJ was one of the most outrageous I have ever seen
from a major public official. I wanted to send a brief "Letter to the
Editor" of the WSJ to that effect. However, in light of the sensitivity of
the entire CA situation in general and the further press last week in the New
York Times, I did not want to do that without confirming with you that doing
so would not be objectionable to the Company. A copy of the proposed letter
is attached. I would propose to submit this in my individual capacity, not
as counsel to the Company. I'll wait to hear from you, or from Mark, Vicki
or Rick before doing anything. Thanks. John
John Klauberg
LeBoeuf, Lamb, Greene & MacRae, L.L.P.
212 424-8125
[email protected]
==============================================================================
This e-mail, including attachments, contains information that is confidential
and may be protected by the attorney/client or other privileges. This
e-mail, including attachments, constitutes non-public information intended to
be conveyed only to the designated recipient(s). If you are not an intended
recipient, please delete this e-mail, including attachments, and notify me.
The unauthorized use, dissemination, distribution or reproduction of this
e-mail, including attachments, is prohibited and may be unlawful.
==============================================================================
- wsj-ed.com.doc | {
"pile_set_name": "Enron Emails"
} |
**********************************
Time To Use Your Draft
**********************************
Presidents' Day weekend is a great time to buy a car
The approaching holiday is the perfect time to use your E-LOAN check draft to buy a car.
Save money by combining President's day dealer sales with E-LOAN's low loan rates.
Use the following tips to ensure that you get the best deal possible:
1. Do your research - Research your car's invoice price and MSRP before you visit the dealer.
Click here for more information. <a href="
http://eloan.rsc03.net/servlet/cc4?LsgEWCB*rLOpgEoSHmmQLgkhgEJht*z*UA
">
2. Talk to the Internet Sales Manager - Dealing directly with the ISM can often help you negotiate
the best price for your car.
3. Determine your monthly payment - You can affect your monthly payment by adjusting the term
of your loan. Use E-LOAN's auto payment calculator to design a payment structure that works for you.
<a href="
http://eloan.rsc03.net/servlet/cc4?LsgEWCB*rLOpgEoSHmmQLgkhgEJht*z*VA
">
4. Maximize your trade-in - Sell your existing car yourself to maximize its value. If you do trade it in,
clean and repair your car to enhance its appeal.
5. Determine your down payment - Down payment is a matter of preference. However, thanks to your low E-LOAN rate your cash may be better used elsewhere. Use Manufacturer Rebates and
Cash Back Incentives to reduce the amount you have to finance.
Remember, using your E-LOAN check draft is easy. Once you've negotiated the price for your car, simply fill out and sign the draft and provide the required documentation to the Internet Sales Manager.
Then drive away in your new car!
If you have any questions about your loan please feel free to call our toll free number
1-888-E-LOAN-22!
Best regards,
Joe Kennedy
President
E-LOAN Inc.
______________________________________________________________________
This message was sent by E-LOAN, Inc. using Responsys Interact (TM).
If you prefer not to receive future e-mail from E-LOAN, Inc.:
http://eloan.rsc03.net/servlet/optout?LsgDVBAErLOpgDoRHmmFLgkhgDJhtEf
To view our permission marketing policy:
http://www.rsvp0.net | {
"pile_set_name": "Enron Emails"
} |
in case you're wondering...
-----Original Message-----
From: Meyer, Vance
Sent: Thursday, November 15, 2001 7:30 AM
To: Denne, Karen; Radford, Pat; Hiltabrand, Leslie
Subject: Where's Vance?
Hey gang --
I forgot that, after rescheduling three twice due to the events of the past month, Teresa scheduled a meeting for 9:30 this morning with our financial planner. As a bonus, I'll bring you back his best tips for 401K manipulation in light of our present circumstances! If I'm needed -- particularly since I sprung this one -- please feel free to call me on my vibrating cellage. KD -- if I'm needed critically, call. I can skip if I have to. I'm getting ready to slam out some more A's for Mary's long list of Q's and hope to focus on that a great deal today.
Q: Will Enron senior management lose their bonuses, go to jail, apologize publicly, sit naked in a dunk tank at the next ECafe, donate their life savings to the United Way, and resign immediately? Also, what happens to Starbucks?
A: Thank you for your thoughtful questions. On the first one, our review of the situation is underway and no decisions have yet been made, but we welcome your suggestions. On the second one, beverage service issues will be part of the transition team focus. | {
"pile_set_name": "Enron Emails"
} |
Russell,
I believe that Francis Lim has been trying to help you with the project we have been talking about. The information below should be able to replace what he may have given you. You can copy these post-id's and change the dates to whatever you like.
Here are all of the post-id's for the PG, G1 and W9 which are the remaining live books.
price 1458677
basis 1458682
index 1458681
gas daily 1458683
gas daily index 1458681
canadian price 1458639
canadian GD 1458283
These are the bankruptcy post-id's (HH and HE)
price 1459387
basis 1459389
index 1459391
gas daily 1459392
gas daily index 1459393
canadian price 1459395
canadian GD 1459396
Attached are the forwards and options details that you can run to give you all of the values you may need.
Let me know if you have any questions. | {
"pile_set_name": "Enron Emails"
} |
----- Forwarded by Mark Taylor/HOU/ECT on 07/17/2000 10:32 AM -----
[email protected]
07/14/2000 02:18 PM
To: [email protected]
cc: [email protected]
Subject: Direct Access
As we discussed, the following is revised disclosure regarding direct access
to deal with the cost issue:
EnronOnline will assist users, upon request, in arranging for the connection
of "T1" lines or other means of direct access to EnronOnline, as an
alternative to internet access. Direct access connections might enable
users to access EnronOnline more quickly than is currently possible through
internet access.
Please call if you want to discuss. Have a good weekend.
----------------------------------
This e-mail is sent by a law firm and contains information
that may be privileged and confidential. If you are not the
intended recipient, please delete the e-mail and notify us
immediately. | {
"pile_set_name": "Enron Emails"
} |
Attached is an updated contact list for GTD, please let me know if any of
your information needs to be corrected.
Thanks,
Tina Tennant
x58487 | {
"pile_set_name": "Enron Emails"
} |
The pricing for the base deal is based on the GD, but it's the average of the gas daily plus .02, right? And I was told that Sitara could not handle this pricing structure, that it had to be calculated and entered as a fixed price. Is this correct?
-----Original Message-----
From: Farmer, Daren J.
Sent: Friday, August 17, 2001 3:19 PM
To: Vela, Valerie
Subject: RE: error repairs
Valerie,
The pricing on the base deal should also be based on GD. I have changed the price to GDP. Let me know if that doesn't correct that piece. Jay is currently looking into the volume issue.
D
-----Original Message-----
From: Vela, Valerie
Sent: Friday, August 17, 2001 2:55 PM
To: Smith, Joseph
Cc: Farmer, Daren J.
Subject: RE: error repairs
Jay,
For June, I need a couple of things changed in Sitara:
Deal 819592 - the commodity price needs to be 3.6318
Deal 819594 - the commodity price needs to be WAHA.HUB.GDP.D.A+.02
And for July............
It looks like we're missing some volume............
Deal 895651 - baseload deal - should have 55,000 per day allocated. AND in Sitara this deal should be priced at $3.0505.
Deal 895691 - swing deal - currently has 234,000 in the scheduled column and it should be 441,000 based on the spreadsheet I sent. Did you have some conflicting volumes? I'm resending what the volumes should be. AND the pricing for this should be at WAHA.HUB.GDP.D.A+.02.
<< File: 0107 daily swing.xls >>
I think that should do if for now. I'll wait to see how these changes come across. Please notify me when these changes have been made. Thanks!
-----Original Message-----
From: Vela, Valerie
Sent: Tuesday, August 14, 2001 3:44 PM
To: Smith, Joseph
Subject: RE: error repairs
Thanks!
-----Original Message-----
From: Smith, Joseph
Sent: Tuesday, August 14, 2001 3:44 PM
To: Vela, Valerie
Subject: RE: error repairs
The errors have also been repaired for the month of July.
-----Original Message-----
From: Vela, Valerie
Sent: Tuesday, August 14, 2001 12:58 PM
To: Smith, Joseph
Subject: RE: error repairs
Thank you---I'll look for this change to come across.
-----Original Message-----
From: Smith, Joseph
Sent: Tuesday, August 14, 2001 1:56 PM
To: Vela, Valerie
Subject: error repairs
Valerie,
In reference to a note sent to Darren Farmer: Houston Pipleline mistake on June 18th
The volume of 50,000 for deal 819594 was a mistake. The proper value was 30,000 just as you had mentioned. Everything should now be fixed. Please let me know if you need anything else.
Thanks,
Jay Smith | {
"pile_set_name": "Enron Emails"
} |
Lindy, would you please look this over. I did not see your name on the distribution list.
Thanks, Kim.
-----Original Message-----
From: Kuehl, Toby
Sent: Friday, October 19, 2001 1:14 PM
To: Frazier, Perry; Licciardo, Jeanne; Hermanek, Patty
Cc: Schoolcraft, Darrell; Darveaux, Mary; Miller, Mary Kay; Lohman, TK; Betancourt, Ramona ; Watson, Kimberly; Holmes, Bradley
Subject: RE: url for tw unsubscribed capacity report
Importance: High
All,
Due to the model office refresh this weekend we have decided to implement change Monday morning 10/22/01. I will notify this group when migration is completed and in production for the additional groups on the TW Unsubscribed Capacity page .
Toby
-----Original Message-----
From: Frazier, Perry
Sent: Friday, October 19, 2001 12:27 PM
To: Kuehl, Toby; Licciardo, Jeanne
Cc: Schoolcraft, Darrell; Darveaux, Mary; Miller, Mary Kay; Lohman, TK; Betancourt, Ramona ; Watson, Kimberly; Hermanek, Patty
Subject: RE: url for tw unsubscribed capacity report
I am ready, lets roll the report and I'll check for accuracy, in the production environment.
PT
-----Original Message-----
From: Miller, Mary Kay
Sent: Friday, October 19, 2001 11:53 AM
To: Kuehl, Toby; Darveaux, Mary
Cc: Schoolcraft, Darrell; Licciardo, Jeanne; Lohman, TK; Betancourt, Ramona ; Watson, Kimberly; Frazier, Perry
Subject: RE: url for tw unsubscribed capacity report
Looks ok to me- thanks for the work on this- MK
-----Original Message-----
From: Kuehl, Toby
Sent: Friday, October 19, 2001 7:54 AM
To: Miller, Mary Kay; Darveaux, Mary
Cc: Schoolcraft, Darrell; Licciardo, Jeanne; Lohman, TK; Betancourt, Ramona ; Watson, Kimberly; Frazier, Perry
Subject: RE: url for tw unsubscribed capacity report
Importance: High
Mary Kay, Mary,
The requested changes have been made to the "TW Unsubscribed Capacity". Please review the test site http://twdev.ets.enron.com/twdb/etfr_unsubcapasp.html and at your earliest convenience let me know if you are satisfied with the format changes. Patty is looking into when the table changes will be made so we can place into production.
Toby
Toby
-----Original Message-----
From: Licciardo, Jeanne
Sent: Thursday, October 18, 2001 9:15 PM
To: Kuehl, Toby; Lohman, TK; Schoolcraft, Darrell; Betancourt, Ramona ; Watson, Kimberly
Subject: FW: url for tw unsubscribed capacity report
Here is the report in Model office. Please review for completeness and sequence of the new groups that were added. Do not verify the content of the data , this is Model Office data that has not been refreshed from Production. Please let me know your approval to proceed with this move to Production. Please forward to anyone else that needs to review prior to production. Also attached is the updated Groups document.
<< File: cas group name.xls >>
[Licciardo, Jeanne]
-----Original Message-----
From: Hermanek, Patty
Sent: Thursday, October 18, 2001 4:26 PM
To: Frazier, Perry
Cc: Licciardo, Jeanne
Subject: url for tw unsubscribed capacity report
Here's the url for the tw unsubscribed capacity report. The report now displays 10 groups.
http://twdev.ets.enron.com/twdb/etfr_unsubcapasp.html
If you have questions, please ask.
Thanks. | {
"pile_set_name": "Enron Emails"
} |
Chicago office DPR now being generated by Risk Consolidation. Steve, you
should be added to the distribution list.
---------------------- Forwarded by Brent A Price/HOU/ECT on 08/16/2000 02:21
AM ---------------------------
Daniel Falcone@ENRON
08/15/2000 01:24 PM
To: Janet R Dietrich/HOU/ECT@ECT, Hunter S Shively/HOU/ECT@ECT, Laura
Luce/HOU/ECT@ECT, Brent A Price/HOU/ECT@ECT, Kevin P Radous/HOU/ECT@ECT,
Michael E Moscoso/HOU/ECT@ECT, Shona Wilson/NA/Enron@Enron,
[email protected], [email protected], [email protected], Richard
Tomaski/HOU/ECT@ECT, Chris Abel/HOU/ECT@ECT, [email protected],
[email protected], Darron C Giron/HOU/ECT@ECT
cc:
Subject: 8/14/2000 Enovate DPR | {
"pile_set_name": "Enron Emails"
} |
This is also directed at us...
Please take this under consideration where possible.
Bill
---------------------- Forwarded by Bill Williams III/PDX/ECT on 03/08/2001
03:10 PM ---------------------------
Kate Symes 03/08/2001 02:50 PM
To: Heather Dunton/PDX/ECT@ECT, Samantha Law/PDX/ECT@ECT, Valarie
Sabo/PDX/ECT@ECT, Fran Chang/PDX/ECT@ECT, Tim Belden/HOU/ECT@ECT, Robert
Badeer/HOU/ECT@ECT, Mike Swerzbin/HOU/ECT@ECT, Matt Motley/PDX/ECT@ECT, Tom
Alonso/PDX/ECT@ECT, Mark Fischer/PDX/ECT@ECT, Sean Crandall/PDX/ECT@ECT,
Diana Scholtes/HOU/ECT@ECT, Jeff Richter/HOU/ECT@ECT, Carla
Hoffman/PDX/ECT@ECT, Phillip Platter/HOU/ECT@ECT, Chris Mallory/PDX/ECT@ECT,
Michael M Driscoll/PDX/ECT@ECT, Jeremy Morris/PDX/ECT@ECT, Bill Williams
III/PDX/ECT@ECT
cc:
Subject: Deal Changes - Add Comments
Melissa Murphy would like us to begin adding a note in the comments section
of all the deals we change. I know most of you already do this when you make
big changes to deals, but she'd like to see more comments more often. Of
course this mostly applies to me, but I thought I'd pass it along just in
case. See the attached e-mail, and let me know if you have questions.
Thanks,
Kate
---------------------- Forwarded by Kate Symes/PDX/ECT on 03/08/2001 02:52 PM
---------------------------
Melissa Ann Murphy
03/08/2001 02:20 PM
To: Kate Symes/PDX/ECT@ECT
cc:
Subject: Hello
Hi, I was wondering if it would too time consuming for you to add a note in
the comments box inside deal entry when you change a deal. We always try to
put a note in the comments box so it is easier to research what has changed
on a trade in the future. If you could add notes it would help us out when
we are researching past deals. Let me know what you think.
Thanks,
Melissa | {
"pile_set_name": "Enron Emails"
} |
Steve - attached is a new chart that paints a clearer picture of the existing
generation emissions v. new generation emissions. Some of the units are
fairly inefficient ('though some of these units are currently in the process
of "repowering" to increase their efficiency) which increases their effective
emissions.
(see Chart 1)
In thinking more about the discrepancies in emissions b/w existing and new
generation, it really amounts to a fundamental flaw in the rules for
nonattainment areas in the Clean Air Act. These rules have no provisions for
growth and create a pretty strong competitive advantage for existing sources
of emissions. Basically, any new sources in nonattainment areas have to go
to existing sources and convince them to reduce their emissions. In CA's
case - since they have been nonattainment for so many years many of the
sources of emission reductions have already been tapped. In other
nonattainment areas like Houston and Atlanta - the nonattainment geographic
boundaries are so small that there are only a handful of significant
stationary sources of emissions.
I don't think CA is going to be able to effect a lot of change on their own.
It is going to take a Federal legislative fix.
Let me know what other information you need.
Mary Schoen
Environmental Strategies
Enron Corp
713-345-7422 | {
"pile_set_name": "Enron Emails"
} |
Hi,
go into EHRonline - just as you would to do your time sheets.
Above the area "TimeSheets (CATS)" - you can also click on above section
"Work Contacts" and/or "Personal Information".
And below topics also may have fields you can check
Selecting the topics - should open the screen/ fields in each section (with
red arrows to those we can update).
thanks,
Sandy | {
"pile_set_name": "Enron Emails"
} |
Becky --
Can you please find out (a) details about the emergency expansion on Kern
River and (b) key Firm Shippers on Kern River, Mojave, PGT?
Philip Allen called me this morning and asked about our ability to "get a
read" on the potential for other Firm Shippers on Kern River to oppose this
expansion. Can we quietly reach out to our industry contacts (other Govt
Affairs shops) to get their opinions?
His concern is primarily about Kern expanding into CA will limit other Firm
Shippers given the limitations on the SoCal system [Jeff, give me a call to
see how this plays in CA].
While we are not a Firm Shipper (and we probably don't want to get directly
in front of this - Enron fights expansion), how will FERC and its Staff look
at this issue [Donna & Leslie}?
Let's try and have the info and a call on Thursday at 4pm Houston time to get
back to him afterwards.
Jim | {
"pile_set_name": "Enron Emails"
} |
Here is the quick & dirty.
None of the Gallup contracts contain a shipper out if the facilities are not
placed in service by a certain date. The respective obligations of the
parties do not commence until the facilities are "tested and placed in
service." We notified our shippers by telephone yesterday that the
facilities were in service. The compressor has since been taken down because
of excessive vibration and an unusual whining noise of undetermined origin.
EE&CC does not know how long it will take to correct the problems; they do
not have enough information yet to even give an estimate. Based on our
experience with Hubbard, it could take months to correct the problem. Today,
we've been able to deliver all nominated gas simply because noms did not
exceed our existing capacity. Nominations are expected to exceed existing
capacity this week, in which case we will have to allocate.
Given the uncertainty involved, from a PR standpoint I believe it would be
best to tell the customers that because of unforeseen circumstances we are
not in service after all, that we apologize for the mistake and will do our
best to provide service on a daily or interruptible basis. When the
compressor is actually tested and really in service, we'll let them know.
The downside: we get no reservation charge at all. (estimated loss:
$25,000/month)
The upside: in the long run we probably save face with our customers.
From a short-term economic standpoint, the better choice appears to be not to
revoke our "in-service" announcement. When summer weather kicks in, we'll
probably have to allocate every day. On our EBB we will have to give some
reason for the allocation (or if we don't, shippers will demand an
explanation anyway). Shippers' rights to a reservation refund will be
triggered.
The downside: shippers will never trust us again. Also, we could be subject
to fraud or related causes of action for representing the compressor was "in
service" when we knew it was not.
The upside: on the off chance no one files a lawsuit and wins, we might at
least get to keep some of the reservation charges owed us, to the extent
deliveries don't fall below 75% of nominated quantities for a period of
longer than 75 days in months other than July and August this summer. (In
July and August, we don't get any reservation charge for amounts not
delivered). We just need to keep in mind that normally the pipeline runs
full in the summer months, and Gallup capacity was sold with that assumption
in mind.
Haven't had time to do a formal write-up; if you want me to turn this into a
memo for wider distribution, let me know. For now, I think it's important to
get a decision on one of the above options. The longer we wait to get
information to our shippers, the bigger our customer relations problem will
be. | {
"pile_set_name": "Enron Emails"
} |
Here is a list of contacts over the next few days just in case.
Dec 26 - Sam
Dec 27 - Heather
Dec 28 - All of us
Dec 31 - John
Jan 2 - We will all be in
John | {
"pile_set_name": "Enron Emails"
} |
The information is correct. Please settle with the customer.
Thanks,
Mike | {
"pile_set_name": "Enron Emails"
} |
The tickets for HOB will go on sale around next wednesday. I will call and
get them. I am starting to get pumped as well. Luckily I have a trip to
Vegas in March that will hold me over.
I need to find my hand hacky sack so we will have a back up plan. I have a
couple of new chairs in a bag for us - full lounge chairs. They even have
beer holders in the arms.
PL
"Mike Jillard" <[email protected]> on 02/23/2001 10:08:36 AM
To: "Phillip M Love" <[email protected]>
cc:
Subject: Jazz
P, we are getting close. Did the Tickets go on sale for any of the concerts
at the House of Blues?
?
We need to come up with a gimmick for the fest! Like the Hand bean bags.
?
See you soon.
?
Jilly | {
"pile_set_name": "Enron Emails"
} |
--------- Inline attachment follows ---------
From: <[email protected]>
To: Andrew Zipper <[email protected]>
Date: Tuesday, January 29, 2002 9:15:09 GMT
Subject:
Andy,
Here are the directions to Louis Dreyfus' offices. Your appointment is at 3:00 pm with Tim Stuart and Bill Rippe.
20445 State Hwy 249, Suite 460
281-378-1100
(North of 1960 on 249)
? Take Hwy 249 to Louetta Jones Rd Exit;
? Before the stop light, make a U-turn and go under the highway and go south on the feeder road;
? Look for the 4-story glass building on the right (Chasewood III, 4th floor, Suite 460).
Susan Magnani
The Search Center, Inc.
1155 Dairy Ashford, Suite 404
Houston, TX 77079
Main 281-589-8303
fax 281-589-8425
[email protected] <mailto:[email protected]>
www.thesearchcenter.com <http://www.thesearchcenter.com> | {
"pile_set_name": "Enron Emails"
} |
---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 04/19/2001
04:27 PM ---------------------------
David Ikenberry <[email protected]> on 04/19/2001 12:41:10 PM
To: [email protected]
cc:
Subject: The National Forum on Corporate Finance
Mr. Fastow,
I'm writing all of our participants and confirming plans for the upcoming
corporate finance meetings on May 4-5 here. As a reminder, you are slated
to sit on the executive option/equity dilution panel on Saturday
morning. Dave Yermack from NYU, the number one expert on this issue, is
presenting at that session. (Again, serving as a panelist should require
little preparation on your behalf.)
Also, you and your wife are welcome to attend the dinner on Friday evening,
May 4. It will be held in the Baker Institute across from the business
school. Tom Copeland is our speaker - (I think he plans to focus his
remarks on real options). Vince Kaminski has told me he will be at the
dinner, however his wife is out of town and will not be.
Please call me direct if I can be of any help or assistance. I look
forward to seeing you soon. I've attached a copy of the program along with
a name rooster of those planning to attend.
Dave Ikenberry
***********************************
Prof. David Ikenberry
Jones Graduate School of Management
Rice University
713-348-5385 | {
"pile_set_name": "Enron Emails"
} |
Kelly, Do you have members of GSS on this list (I can't tell based on names)?
I'll have my assistant get with you on calendaring.
Michelle
-----Original Message-----
From: Walker, Stacy On Behalf Of Kimberly, Kelly
Sent: Tuesday, October 30, 2001 2:46 PM
To: Cash, Michelle; Donahue, Jeff; Iannarone, Lauren; Lemmons Jr., Billy; Manning, MaryKay; Medcalf, Jennifer; Mintz, Jordan; Pieper, Kalen; Tilney, Elizabeth; Yowman, Andrea
Cc: Olson, Cindy; Bourgeois-Galloway, Hilda; Power, Bobbie
Subject: Diversity strategy meetings
As you may know, I recently moved into Cindy Olson's organization and am responsible for our corporate responsibility initiatives, including diversity. Andrea Yowman now reports to me and will coordinate the diversity function.
All of you are involved in diversity, whether it is because you have participated in the Corporate Culture Committee, are responsible for supplier diversity, recruiting, compliance, etc. We think that an ongoing coordination effort among the people invited will be critical to the success of our efforts.
I propose that we arrange a standing, one-hour meeting, initially every two weeks, to discuss overall strategy as well as individual activities that we have been involved in. I would like for the first meeting to be held in mid-November.
I hope we can count on your participation. Please let me know if you will be able to participate, and if so, which day and time works best from the list below:
Tuesdays: 10:00 to 11:00 a.m. OR 1:00 to 2:00 p.m.
Wednesdays: 9:00 to 10:00 a.m. OR 3:00 to 4:00 p.m.
Thursdays: 9:00 to 10:00 a.m. OR 1:00 to 2:00 p.m. | {
"pile_set_name": "Enron Emails"
} |
Attention POWER REPORT Readers: Go to
http://www.powermarketers.com/prdaily.htm to view today's edition with direct
headline links to each story.]
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--------------------T O P S T O R I E S--------------------
Top Stories (March 16)
CALIFORNIA GOVERNOR ANNOUNCES PLAN TO REWARD CONSUMERS WHO CUT POWER USE
Saying he wants to reward ratepayers who conserve the most energy this
summer, Gov. Gray Davis on Tuesday announced that many Californians who cut
their electricity use by at least 20 percent during the hottest months will
receive a one-time, 20 percent rebate off their summer bill.
http://199.97.97.163/IMDS%PMAKRT0%read%/home/content/users/imds/feeds/knightri
dder/2001/03/16/krtbn/0000-0438-SA-POWER-REBATE
ENBRIDGE EXPANDS IN U.S. WITH $350M TAKEOVER OF MIDCOAST ENERGY
Canadian natural-gas delivery giant Enbridge Inc. is expanding in the United
States with a $350-million-US acquisition of Midcoast Energy Resources Inc.
of Houston. Enbridge, which will also assume $250 million in Midcoast debt,
announced Friday that the companies have agreed on a friendly merger under
which the Calgary company will pay $27 US per share in cash.
http://199.97.97.163/IMDS%PMANAT0%read%/home/content/users/imds/feeds/canadian
p_eng/2001/03/16/eng-canadianp_business/eng-canadianp_business_181232_107_5071
75088394
ALLEGHENY ENERGY COMPLETES ACQUISITION OF GLOBAL ENERGY MARKETS; TRANSFORMS
COMPANY INTO LEADING NATIONAL ENERGY MERCHANT
Allegheny Energy, Inc. announced today that its generation subsidiary,
Allegheny Energy Supply Company, LLC, has completed its acquisition of Global
Energy Markets, formerly Merrill Lynch's energy commodity marketing and
trading unit.
http://199.97.97.163/IMDS%PMANAT0%read%/home/content/users/imds/feeds/comtex/2
001/03/16/bw/0000-1156-md-allegheny-energy
CONNECTICUT STATE AGENCY SEEN REJECTING POWER LINE TO LONG ISLAND
A Connecticut state agency is expected to reject plans for a proposed 24-mile
power line running from Connecticut to Long Island, the head of the agency
told Dow Jones Newswires Friday.
http://199.97.97.79/IMDS%PMADJN0%read%/home/content/users/imds/feeds/djn/2001/
03/16/eng-djn/eng-djn_190039_210_12336080661
CANADIAN FIRM BUYS TWO NEW YORK POWER PLANTS FROM INTERNATIONAL PAPER
A Canadian company bought a pair of hydroelectric generating plants from
International Paper Co. for $285 million, it was announced Tuesday.
http://199.97.97.163/IMDS%PMAKRT0%read%/home/content/users/imds/feeds/knightri
dder/2001/03/16/krtbn/0000-0022-AL-POWER-PLANT
OMAN SIGNS $270M ELECTRIC PRIVITIZATION DEAL WITH PSEG UNIT
Oman's government Saturday signed a final agreement with Dhofar Power Co. for
the privatization of the electricity power system in the Salalah region in
Oman, the official Oman News Agency reported.
http://199.97.97.79/IMDS%PMADJN0%read%/home/content/users/imds/feeds/djn/2001/
03/17/eng-djn/eng-djn_120048_187_650891076773
----------------------------------------------------------------------
DOW JONES NEWSWIRES
----------------------------------------------------------------------
Access stories online at:
http://199.97.97.79/IMDS|PMADJN0,PMADJN1,PMADJN2,PMADJN3,PMADJN4|index
Edison Intl -2: Not Paying Would Have Accelerated Debts
Edison Intl: No Bank Forbearance Yet; Deadline Passed
Edison Intl: Paid $8 Mln On SoCalEd 1st Mortgage Bonds
PG&E: No April 2 Payment To Be Made On Utility QUIPS
Ct. Agency Seen Rejecting Proposed Pwr Line To LI -Agency
PG&E/QUIPs -2: Utility Has $2.7B Cash, Holding Co $300M
Sewage Released Into Miami Bay Thurs After Boat Hits Pipe
AES Unit/Financing -2: Facility In New Hampshire >AES
Salomon/Brazil Eletropaulo -2: Lower 2001 Earnings Seen
Salomon Cuts Brazil Eletropaulo To Underperform From Buy
US Weather Svc: Flooding, Drought Seen As Spring Arrives
AES Corp Unit Gets $294.4M Financing For Power Facility
Deal Between Rival Bidders Could Solve Cantabrico Saga
CIR's Energia Plans To Bid For Eurogen; No Listing Plans
OUTLOOK: Asia Pdt Mkt Bearish; OPEC To Set Direction
CIR's Energia Sees 2001 Rev At ITL515B Vs ITl148B In '00
Petro-Canada/Oil Detected-2:Deploys Boom To Protect Marsh
Petro-Canada Sees No Impact On Drinking Water, Wildlife
FREE TRIAL: For a free trial of the Dow Jones Energy Service go to
www.dowjonesnews.com, and click "create account," or call
1-800-223-2274.
----------------------------------------------------------------------
N A T I O N A L
----------------------------------------------------------------------
Access stories online at: http://www.powermarketers.com/pma-nat.htm
Enbridge Expands in U.S. with $350m Takeover of Midcoast Energy
Aesp to Hold Conference Explaining How ASP's Can Help Energy-Services
Providers
Committee Wants Comed to Pay for Power Outages
Fnm Expects No Revenues from Gas and Energy Sector Privatization in 2001
Garbage Power Coming
Hallwood Energy Corporation Announces Petrie Parkman Engagement
Gas-Powered Electric Plant to Supply W. Valley Homes
State, Local Leaders Brainstorm Ways to Sidestep Impacts of A Summer Energy
Crunch on Water Systems
Locke Urges Swift Price Caps for Energy
Puc Blocks Utility Layoffs -- Regulators Fear Harm to Customers
Bill Paul - Power Technology Outlook
White House Sticks to Power Policy
Repeats: Energy Volume And Open Interest Totals-Mar 16
Management`S Discussions: 10-K405, Active Power Inc 1 of 3
Sable Offshore Energy Incorporated Is Winner of the
Seventh Energy Ltd. Announces Successful 2000 Operating
Pacific Gas And Electric Company Defers Preferred Securities Quarterly Payment
Calpine Announces 336-Mw Colorado Energy Center
Consolidated Natural Gas Company Announces Successful Consent Solicitation
On Energy Moves to Woo Customers
Wtc Industries, Inc. Revenues Increasing Due to General Electric Appliance
Shipments
Energy Update/Los Angeles Department of Water And Power Issues Daily Energy
Update for Friday, March 16
Allegheny Energy Completes Acquisition of Global Energy Markets; Transforms
Company Into Leading National Energy Merchant
More Natural Gas Rate Hikes Due
Around New Jersey ; Wintertime Grace Period for Utility Customers Ends
Mechanical Failure Causes Power Outages
Avista Asked to Pay Users to Conserve Utility Now Rewarding Industry for
Saving Energy
Mirant Plans Power Plant in Central Wisconsin
Spl Worldgroup Appoints J. Guerry Waters to Key Strategy Role; Energy
Industry Thought Leader to Head Global Marketing & Strategy
US NWS Long Range: West US Energy Crisis May Resume in Summer ...
Enron Has An Established Retail Business Via Enron Energy Services, Reports
Analyst in Interview with The Wall Street TranscriptWilliam D. Hyler Is A
Managing Director And A Senior Analyst at Cibc World Markets Corp.
CEO Highlights Duke Energy's Strongest Market Overseas in Interview with The
Wall Street TranscriptJames M. Donnell Is President And CEO of Duke Energy
Corporation
Aes Granite Ridge Project Secures Financing; Construction of 720 Mw Gas-Fired
Power Facility in New Hampshire Continues on Schedule
Us: Two Simple-Cycle Power Plants Proposed for California
Bill Would Halt Move to Deregulate Power in Nevada
California Blackouts Seem 'Inevitable' State Officials Say Energy Chief's
Forecast May Be Overly Bleak
Full: Canada's Enbridge to Buy Midcoast Energy for $27 Shr in Cash
Editorial Pay the Piper Mayor Offers Interesting Plan to Increase Power Supply
Lakehead Pipe Line Partners Affiliate to Acquire Midcoast Energy
Energy Chief Rejects Price Caps Despite West's Concern
Southward Energy Ltd - 2000 Year End Financial And Operating Results
Proposals Toughen Utility Regs
----------------------------------------------------------------------
I N T E R N A T I O N A L
----------------------------------------------------------------------
Access stories online at: http://www.powermarketers.com/pma-intr.htm
New Power Plant Project under Analysis - Argentina
Greenpeace Lobbies Austrian Power Producers To End Imports from Temelin
Russia, Iran To Continue Cooperation in Peaceful Uses of Atomic Energy
Macedonia Interested in Supplies of Russian Energy Resources
Ecuador: Government Settles Debts of Electric Power Distributors
Armenian Official Upbeat About Armenia-Greece-Iran Energy Cooperation
Top Energy Summaries - Friday, March 16, 2001 - 12:52 PM
GE Aircraft Engines Selected to Power New Cargolifter Airship
Top Energy Summaries - Friday, March 16, 2001 - 9:23 Am
Croatian Electricity Utility Fails to Collect Bills, Posts Loss
Uk: Rjb to Supply Coal to British Energy
China to Build Large Coal Mine
Mongolia Drops Hydroelectric Power Plant Project Over Environmental Concerns
Daw Mill Owner Scoops Five-Year Deal to Fuel Power Station
Revisions to Philippines Power Bill May Discourage Investors
Korea Power Exchange to Open April 2
Tohoku Electric Power to Halt LNG Imports from Indonesia
RPT: STOCKWATCH: Huaneng Power sharply higher on acquisition plan
STOCKWATCH: Huaneng Power sharply higher on acquisition plan
Industry Power Demand for Feb. Sees 1st Fall Since July 1999
----------------------------------------------------------------------
KRT DAILY ENERGY NEWS
----------------------------------------------------------------------
Access stories online at http://www.powermarketers.com/pma-krt.htm
Tacoma, Wash., Residents Given Orders to Conserve Electricity
Utah Power Companies Find Energy in High Demand by California
California Universities Sue Texas-Based Utility to Keep Energy Deal
California Utilities May Face Probe Over Shifting of Funds to Parent Companies
California Analyst Says State's Efforts Will Prevent Summer Blackouts
Federal Regulators Threaten to Order Refunds by Power Generators
California Governor Announces Plan to Reward Consumers Who Cut Power Use
U.S. Senate Considers Barring Utilities from Bankruptcy Protection
York County, S.C., Electricity Cooperative Celebrates 60 Years of Operation
Salmon Protection Second to Power Production, Oregon Power Administration Says
New Jersey Vendor to Build Nuclear Fuel Storage Tank for Oregon Utility
Enron Expects Lamar, Colo., Wind Farm to Be Operational by 2002
The Orlando Sentinel, Fla., Home Energy Column
Los Angeles Looks to Buy More Power from Salt Lake City
New Jersey's Low-Income Families Brace for End of Utility Amnesty
Houston-Based Reliant Energy Seeks Another Electricity Rate Increase
Massachusetts to Give $47 Million in Grants, Loans for Clean Energy Sources
Possible Power Deregulation Hits An Outage in Florida Legislature
Springfield, Ore., Utility Looks to Acquire Diesel Generators
Oregon Utility Commission Issues Report on Domestic, International Travel
New Solar Power Generator Small Enough to Fit in Backpack
Regulators Block California Utilities' Layoff Plans
California Governor Offers Incentives to Residents Who Conserve Electricity
Tulsa, Okla.-Based Firm Says It Can Boost Natural Gas Capacity in Pipeline
Canadian Firm Buys Two New York Power Plants from International Paper
----------------------------------------------------------------------
REUTERS
----------------------------------------------------------------------
Access stories online at:
http://news.powermarketers.com/news/articles/ElectricPower.html
03-18-01 Deal breakup adds Con Edison, Northeast to merger shoot-out
03-18-01 UPDATE 3-Amtrak derailment kills one in Iowa
03-18-01 FEATURE-King coal saves U.S. railroads from downturn
03-18-01 Bush economist says CO2 caps could cause blackouts
03-18-01 UPDATE 1-UK's United Utilities mulls break up-paper
03-18-01 California's Davis defies political risk with calm
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RETAIL: WHAT WENT WRONG, HOW TO FIX IT. Retail electric deregulation has thus
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Subscriptions to the PowerMarketers.com Power Report are free - you will
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TO UNSUBSCRIBE OR CHANGE your subscription, (1) point your browser to "The
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subject and include your name and email address for confirmation. | {
"pile_set_name": "Enron Emails"
} |
Finally! This deal has been deciphered and changed. I killed legs 3 through
7, which were all inadvertantly entered as forwards instead of index
forwards. I checked on the Dow Jones Palo Verde index price for those days -
10/3/00 through 10/7/00 - and verified that 5% was greater than $5.00. Legs 2
and 8 already reflected the 5% offset, not $5, so I didn't change anything on
these. The new leg numbers are 420886.52 through 420886.56. If there are any
further changes to be made, please let me know. Otherwise, thank you so much
for your patience and cooperation.
Kate
From: Kim Ward 11/15/2000 10:31 AM
To: Kate Symes/PDX/ECT@ECT
cc:
Subject: Re: DSM 5261
Kate,
A request (below) has been made to fix a deal that was entered by Tom and
Mark incorrectly (through the option exercise function in deal blotter). The
deal numbers and legs that need to be fixed are listed below. Instead of
being a forward transaction, these legs should be entered as index forwards.
We are paying the DJ PV index plus $5 or 5%, whichever is more. Therefore,
if daily prices were more than $100 at palo verde, the offset should be 1.05.
I know that i have totally confused you but let me know of any questions you
might have and I will be glad to help.
Thanks,
Kim
---------------------- Forwarded by Kim Ward/HOU/ECT on 11/15/2000 09:31 AM
---------------------------
Enron Capital & Trade Resources Corp.
From: [email protected] 11/14/2000 02:03 PM
To: [email protected]
cc:
Subject: Re: DSM 5261
Kim,
The message listed below was previously forwarded to Caroline. Per
Caroline, I would need to talk to the actual Trader. Please let me know if
you can help me resolve this issue.
Please call me at ext. 3-6488 if you have any questions.
Thanks,
Katrina
Katrina Johnson
11/14/2000 03:02 PM
To: Caroline Emmert/HOU/ECT@ECT
cc:
Subject: DSM 5261
Caroline,
Deal #420886 legs 3-7 have no price attached to the deal. Would you please
add the DJPV index plus an offset of 5%. On legs 2 & 8 the offset needs to
be changed from $5.00 to 5%.
Please let me know if you have any questions.
Thank You,
Katrina | {
"pile_set_name": "Enron Emails"
} |
This is the Los Angeles Times article Mark has been working on...
California; Metro Desk
Electricity Cost Data Spread the Blame Power: Many suppliers charged more
than the firms that Davis has pilloried, records show.
RICH CONNELL; ROBERT J. LOPEZ; DOUG SMITH
TIMES STAFF WRITERS
07/10/2001
Los Angeles Times
Home Edition
B-1
Copyright 2001 / The Times Mirror Company
SACRAMENTO -- California's energy meltdown involves a far more diverse group
of wholesale electricity merchants than suggested by Gov. Gray Davis, who has
aggressively blamed a handful of Texas companies, state records show.
During the first three months of this year--one of the worst stretches of
power shortages during the crisis--an assortment of public and private
entities charged the state prices averaging well above some of those paid to
Texas firms, according to documents released to The Times on Monday by the
Department of Water Resources, which now buys power for California.
Among those setting and collecting some of the highest average prices per
megawatt-hour were a Canadian public utility, a subsidiary of San Diego Gas &
Electric's parent company, and the Los Angeles Department of Water and Power,
the report shows. Their average prices ranged from $498 a megawatt-hour
charged by Powerex, the trading arm of British Columbia's BC Hydro, to $292
an hour by the DWP.
In fact, some of the biggest private power companies singled out for
criticism by Davis and other state officials--Dynegy Inc., Duke Energy and
Mirant--charged less than the average prices the state paid for the period.
Those companies' average prices ranged from $146 to $240 per megawatt-hour,
according to an analysis of the documents.
The figures cover the various types of spot and longer-term power purchased
by the state during three months that included rolling blackouts and more
than a month of razor-thin reserves, leading to continuous power emergencies.
Davis spokesman Steve Maviglio said the governor has directed his sharpest
barbs at private out-of-state generators because, in general, they have
reaped the highest profits over the longest period.
"You have to look at the whole picture," Maviglio said.
"The governor was expressing his displeasure with the arrogance of the
generators who wear cowboy hats," he said. "Their profits were 100% to 400%
above last year. . . . Just because there are other entities who are charging
us more [per megawatt-hour] doesn't change the fact that we are getting
ripped off by companies from Houston, Tulsa, Atlanta or Charlotte."
The report by the Department of Water Resources was provided to The Times on
the same day the state released 1,700 pages of documents on California's
electricity purchases on the volatile spot market for the year's first
quarter.
The records detail how the state spent nearly $8 billion buying power in the
first five months of the year, and underscore the complexity of the state's
energy problem. They also show that patterns of high prices are not limited
to a few generators.
Oscar Hidalgo, a spokesman for the water resources agency, said that the
reports together show that prices were extremely volatile early in the year.
"All the prices were high," he said, noting the downward trend in costs since
his agency began buying power in mid-January.
The average price per megawatt-hour for all state purchases went from $316 in
January to $243 in May. Spot prices fell from an average of $321 per hour to
$271, the reports show.
In the first quarter of the year, some public entities' prices far exceeded
those of the biggest private companies. For example, Houston-based Enron, one
of the nation's biggest power traders, charged an average of $181 per
megawatt-hour. And Atlanta-based Mirant, which sold the most to the state, a
total of $706 million, charged an average of $225 per megawatt-hour.
By contrast, a Calgary, Canada, firm, TransAlta Energy, averaged $335 a
megawatt-hour, and the Sacramento Municipal Utility District had average
charges of $330 per megawatt-hour.
A spokesman for Enron, Mark Palmer, said recently that the "vilification of
Enron was based on politics, not facts." Spokesmen for BC Hydro could not be
reached late Monday to comment on its huge sales to the state. In the past,
the utility has defended its pricing practices, saying it has offered
last-minute hydroelectric power that helped keep California's lights on.
A spokeswoman for Sempra, the parent company of San Diego Gas & Electric,
said late Monday the company was unable to comment because it had yet to see
the figures released by the state. Officials at DWP, who could not be reached
Monday evening, have defended their pricing, saying the costs of producing
the power needed by the state were extremely high.
More Power Bought Than Projected
Hidalgo, of the Department of Water Resources, said his agency's efforts,
coupled with conservation by business and consumers and falling natural gas
prices, have begun to tame the state's market.
Still, the state had to purchase $321 million in power in April and May,
about 10% more than Davis' analysts had projected.
Hidlago said that was because of hot weather in May and other supply problems
in April. He said reports will show that power purchases fell short of state
projections in June and early July.
The reports also will show that prices paid by the state were down in June
and July, partly because spot prices have fallen sharply, often to well under
$100 a megawatt-hour.
A summary Department of Water Resources report released Monday credited
Davis' program of nurturing new power generation and establishing long-term
power contracts with with "moving the California electric energy industry
closer to normalcy."
Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved. | {
"pile_set_name": "Enron Emails"
} |
you realize that who plove takes is irrelevant b/c your are going to take the
best player available at either slot. It is what you think you can make up
with the additional picks.
besides, both of us are at equal risk to who plove picks
To: Eric Bass/HOU/ECT@ECT
cc:
Subject: Re:
No go, not gonna do it... Need to wait until P. Love returns...
Enron North America Corp.
From: Eric Bass 07/17/2000 11:09 AM
To: O'Neal D Winfree/HOU/ECT@ECT
cc:
Subject:
My 1,4,and 6 for your 1, 5,7 | {
"pile_set_name": "Enron Emails"
} |
Daren,
Please see the Volume and Action Needed columns below: 50,158 mm has not
been entered in Sitara or Path Manager because deal tickets are needed.
Bob
---------------------- Forwarded by Robert Cotten/HOU/ECT on 06/27/2000 09:01
AM ---------------------------
Enron North America Corp.
From: Robert Cotten 06/26/2000 09:02 AM
To: O'Neal D Winfree/HOU/ECT@ECT, Vance L Taylor/HOU/ECT@ECT
cc:
Subject: July Noms
O'Neal/Vance,
The following deals appear to have expired 6/30/00:
Counterparty Sitara Deal No. Volume Action Needed
Camoil 138822 161 Pathed 6/27
Cody Texas 305549 2,800 Deal Ticket
EEX Corp. 278748 14,213 " "
EEX Corp. 278770 1,710 Pathed 6/27
Engage Energy 278784 70 Deal Ticket
278806 117 " "
278821 657 " "
278834 1,096 " "
Goldston 225006 30,055 " "
Hydrocarbon Lease 281540 1,000 " "
Petromac 138536 45 Pathed 6/26
Setex 132845 76 Deal Ticket
138601 53 " "
Swift Energy 279778 21 " "
TexLan 138848 166 Pathed 6/27
I will need either new deal ticket(s) or roll the current ones in Sitara.
Please advise. Thanks.
Bob | {
"pile_set_name": "Enron Emails"
} |
The final draft of General Principles for Installed Capacity (ICAP) and a
draft Regional ICAP Validation Procedure are attached for your information.
These documents were agreed to by the MOU OWG (Operations Working Group).
They will be discussed at our next ICWG Meeting on November 30. Your
feedback will be appreciated.
These documents and other matters should also be addressed at a Regional
Capacity Adequacy Meeting scheduled for December 20 at BWI - Baltimore. The
particulars for the Baltimore Meeting have been or will be posted
separately.
(See attached file: MOU_OWG ICAP Principles.doc)(See attached file:
Regional ICAP Validation Procedure and Form Ver2.doc)
- MOU_OWG ICAP Principles.doc
- Regional ICAP Validation Procedure and Form Ver2.doc | {
"pile_set_name": "Enron Emails"
} |
FYI
---------------------- Forwarded by David W Delainey/HOU/ECT on 11/30/2000
01:23 PM ---------------------------
Raymond Bowen
11/30/2000 12:18 PM
To: David W Delainey/HOU/ECT@ECT
cc: Dorie Hitchcock/HOU/ECT@ECT, Mike McConnell/HOU/ECT@ECT, Jeffrey A
Shankman/HOU/ECT@ECT, Jeffrey McMahon/HOU/ECT@ECT, John J
Lavorato/Corp/Enron@Enron, Mark Frevert/NA/Enron@Enron, Greg
Whalley/HOU/ECT@ECT
Subject: Re: 2001 ENA/EGM/EIM CUSTOMER SKI PROGRAM
Dorie,
I share Dave's skepticism.
Ray Bowen
David W Delainey
11/30/2000 11:26 AM
To: Dorie Hitchcock/HOU/ECT@ECT
cc: Mike McConnell/HOU/ECT@ECT, Jeffrey A Shankman/HOU/ECT@ECT, Raymond
Bowen/HOU/ECT@ECT, Jeffrey McMahon/HOU/ECT@ECT, John J
Lavorato/Corp/Enron@Enron, Mark Frevert/NA/Enron@Enron, Greg
Whalley/HOU/ECT@ECT
Subject: 2001 ENA/EGM/EIM CUSTOMER SKI PROGRAM
Dorie, I have to question the effectiveness of this program. Over the years,
it appears that more spots are being filled by Enron people then customers.
The effectiveness of this forum from a customer point of view is
questionable. I vote to kill it.
Please forgive the approach - but I would like to provoke a discussion with
my partners.
Regards
Delainey
---------------------- Forwarded by David W Delainey/HOU/ECT on 11/30/2000
11:20 AM ---------------------------
From: Dorie Hitchcock 11/30/2000 06:40 AM
To: Sylvia S Pollan/HOU/ECT@ECT, Robyn Zivic/NA/Enron@Enron, Andrew H
Lewis/HOU/ECT@ECT, Geoff Storey/HOU/ECT@ECT, Martin Cuilla/HOU/ECT@ECT,
Patrice L Mims/HOU/ECT@ECT, Kevin Ruscitti/HOU/ECT@ECT, Kelli
Stevens/HOU/ECT@ECT, Tom Donohoe/HOU/ECT@ECT, Joe Parks/Corp/Enron@ENRON,
Janet H Wallis/HOU/ECT@ECT, Gary Bryan/HOU/ECT@ECT, Jill T
Zivley/HOU/ECT@ECT, Brian Bierbach/NA/Enron@Enron, John Craig
Taylor/HOU/ECT@ECT, Gary Hickerson/HOU/ECT@ECT, Daniel Reck/HOU/ECT@ECT,
George McClellan/HOU/ECT@ECT, Mark Tawney/HOU/ECT@ECT, Jere C
Overdyke/HOU/ECT@ECT, Larry Lawyer/NA/Enron@Enron, Brent A Price/HOU/ECT@ECT,
Eric Gonzales/LON/ECT@ECT, Cindy Skinner/HOU/ECT@ECT, John L
Nowlan/HOU/ECT@ECT, Don Schroeder/HOU/ECT@ECT, Doug Leach/HOU/ECT@ECT, Bryan
Burnett/HOU/ECT@ECT, Wendy King/Corp/Enron@ENRON, Tim Battaglia@Enron,
Douglas B Dunn/HOU/ECT@ECT, Rodney Malcolm/HOU/ECT@ECT, Billy
Lemmons/Corp/Enron@ENRON, David Howe/Corp/Enron@ENRON, Mark
Frevert/NA/Enron@Enron, John J Lavorato/Corp/Enron@Enron, David W
Delainey/HOU/ECT@ECT, Mike McConnell/HOU/ECT@ECT, Jeffrey A
Shankman/HOU/ECT@ECT, Jeffrey McMahon/HOU/ECT@ECT, Raymond Bowen/HOU/ECT@ECT,
Jeffery Ader/HOU/ECT@ECT, Phillip K Allen/HOU/ECT@ECT, John
Arnold/HOU/ECT@ECT, Edward D Baughman/HOU/ECT@ECT, Sally Beck/HOU/ECT@ECT,
Tim Belden/HOU/ECT@ECT, Christopher F Calger/PDX/ECT@ECT, Wes
Colwell/HOU/ECT@ECT, Derek Davies/CAL/ECT@ECT, Mark Dana Davis/HOU/ECT@ECT,
Joseph Deffner/HOU/ECT@ECT, Paul Devries/TOR/ECT@ECT, Janet R
Dietrich/HOU/ECT@ECT, Jeff Donahue/HOU/ECT@ECT, Stephen H
Douglas/HOU/ECT@ECT, W David Duran/HOU/ECT@ECT, Chris H Foster/HOU/ECT@ECT,
Mark E Haedicke/HOU/ECT@ECT, Rogers Herndon/HOU/ECT@ect, Scott
Josey/Corp/Enron@ENRON, C John Thompson/Corp/Enron@ENRON, Fred
Lagrasta/HOU/ECT@ECT, Eric LeDain/CAL/ECT@ECT, Laura Luce/Corp/Enron@Enron,
Thomas A Martin/HOU/ECT@ECT, Jonathan McKay/CAL/ECT@ECT, Michael L
Miller/NA/Enron@Enron, Rob Milnthorp/CAL/ECT@ECT, Jean Mrha/NA/Enron@Enron,
Scott Neal/HOU/ECT@ECT, David Oxley/HOU/ECT@ECT, Ozzie Pagan/HOU/ECT@ECT,
Beth Perlman/HOU/ECT@ECT, Kevin M Presto/HOU/ECT@ECT, Brian
Redmond/HOU/ECT@ECT, Hunter S Shively/HOU/ECT@ECT, James D
Steffes/NA/Enron@Enron, Fletcher J Sturm/HOU/ECT@ECT, Bruce
Sukaly/Corp/Enron@Enron, Mike Swerzbin/HOU/ECT@ECT, Scott
Tholan/Corp/Enron@Enron, Barry Tycholiz/CAL/ECT@ECT, Frank W
Vickers/HOU/ECT@ECT, Greg Wolfe/HOU/ECT@ECT, Max Yzaguirre/NA/Enron@ENRON,
John Zufferli/CAL/ECT@ECT, Deirdre McCaffrey/HOU/ECT@ECT, Jennifer
Shipos/HOU/ECT@ECT
cc:
Subject: 2001 ENA/EGM/EIM CUSTOMER SKI PROGRAM
Winter is just around the corner and the new ski season will be opening
soon. Please review the proposed information below, regarding the
ENA/EGM/EIM Customer Ski Program, to help us determine what our needs will be
for the 2001 season.
Location: Beaver Creek, Colorado
Preliminary Dates: February 21 - March 14, 2001
Approximate Cost Per Person: $2,600 (based on 82 participants)
The preliminary dates have been divided into 6 trips:
TRIP DATES TOTAL # OF BEDS
Trip 1 Wed, February 21 - Sat, February 24 11
Trip 2 Sun, February 25 - Wed, February 28 17
Trip 3 Wed, February 28 - Sat, March 3 13
Trip 4 Sun, March 4 - Wed, March 7 13
Trip 5 Wed, March 7 - Sat, March 10 13
Trip 6 Sun, March 11 - Wed, March 14 15
The program cost per person includes:
? Four days/three nights accommodations in luxurious private homes in the
premier Holden Road/Borders Road area of Beaver Creek with daily maid service
? Animated invitation with on-line registration
? Round-trip airport ground transportation
? Experienced property hosts
? Daily lift tickets and ski instruction
? Ski equipment rental
? Catered dinner two nights
? Catered breakfast daily
? Off-site dinner coordination
? Alternate activity coordination
? Private vans at each house
? One massage with experienced in-house massage therapists
? Enron promotional gift item
? Pre-program administration and coordination
? On-site operation
If you are interested in participating in the 2001 ski program, please submit
an email request to me no later than Friday, December 8th, including the
following information:
Name
Company
Department
Telephone
Fax
Number of People
Choice of Dates (1st, 2nd & 3rd)
Company #
RC #
The week of December 11th, all requests will be compiled for review and final
approval.
Questions should be directed to my attention at (713) 853-6978. | {
"pile_set_name": "Enron Emails"
} |
John:
Here is a summary of the 2 Snyder Agreements. As we discussed last week,
there is one trade (a basis swap that will expire in August 2004) that they
want to remain under the 1194 Master. Let me know what you want to do.
!. 1994 Agreement
cross default threshold - $10,000,000 for Snyder and $25,000,000 for us
automatic termination if bankruptcy occurs
setoff includes affiliates
collateral is LC's only
collateral threshold - credit rating matrix
Below BB- - 0
BB- $2,500,000
BB $5,000,000
BB+ $6,000,000
BBB- to BBB+ $10,000,000
A- and above $15,000,000
$15,000,000 Enron Guaranty
2. 1996 ISDA Agreement
cross default threshold - $50,000,00 for us and $25,000,000 for them
no automatic termination upon bankruptcy
setoff includes affiliates
collateral includes LC's and cash
collateral threshold - $10,000,000 for both parties
MAC trigger is below BBB- for us and BB- or below for them
no Enron Guaranty
Carol | {
"pile_set_name": "Enron Emails"
} |
This morning I had the opportunity to discuss the issue of Transportation Contract rejection with David Zdunkewicz of Andrews and Kurth. He and his partner Jeff Spiers have been advising other Enron divisions regarding the contract rejection process.
I am told that a motion has been filed with the bankruptcy court requesting that shorthand procedures be established for the purpose of allowing the various Enron Debtors to reject executory contracts. That motion is apparently slated to be heard on January 7. The attached template describes the information that must be filed with the court and forwarded to the creditors' committee and to the relevant counterparty whose contract is being rejected. Assuming that the order is approved, we'll be able to start rejecting transportation contracts as early as January 8.
Kelli and Maria,
In order to expedite the process, could you please fill out the attached template, providing the information requested.
Please call with any questions.
Thanks for your help.
Steve Van Hooser
-----Original Message-----
From: Van Hooser, Steve
Sent: Thursday, December 27, 2001 3:29 PM
To: McMichael Jr., Ed; Germany, Chris; Concannon, Ruth; Miller, Stephanie; Little, Kelli; Garza, Maria
Cc: Hodge, Jeffrey T.
Subject: FW: Motion To Reject Gas Transportation Contracts
Attached is an e:mail that I forwarded to Jeff Speirs, a bankruptcy attorney with Andrews and Kurth who will be assisting with the mechanics of rejecting the out of the money transportation agreements that you all have identified. I imagine that we will need full company names, contact persons and addresses in order to place the different pipes on notice of the motion to reject. Could you please coordinate the gathering of this information so that we will be in a position to act on it as soon as possible after New Years? Thanks for your help.
Steve Van Hooser
-----Original Message-----
From: Van Hooser, Steve
Sent: Thursday, December 27, 2001 3:07 PM
To: '[email protected]'
Cc: Sager, Elizabeth; Hodge, Jeffrey T.
Subject: Motion To Reject Gas Transportation Contracts
Jeff,
I am an Enron Wholesale Services attorney who is advising on ENA gas transportation matters. Elizabeth Sager suggested that I contact you about assisting me with the preparation of a Motion to Reject the bulk of the executory transportation service agreements that ENA has with interstate pipeline companies.
The attached spreadsheet summarizes the terms of said transportation agreements; please note that the first sheet of the spreadsheet file describes the 5 transportation contracts that ENA wishes to assume; the remainer are out of the money transportation and storage arrangements that ENA desires to reject. Please review the attached and let me know if it contains sufficient information with which to proceed with the preparation of the Motion.
I imagine you will have plenty of questions. . . . I myself have a number of questions regarding the agency relationships shown on the spreadsheet, as well as ENA's right or need to reject those Service Agreements under which ENA has heretofore released pipeline capacity to third parties.
I look forward to speaking with you about these matters as well as determing the timeframe for rejecting these contracts.
Steve Van Hooser
Enron North America Corp.
713-853-7238(o)
713-582-6413(c)
713-646-3490 (fax)
<< File: Transport-Storage Review-MAIN FILE(12-21-01).xls >> | {
"pile_set_name": "Enron Emails"
} |
Jon, can't say it on the desk in front of Matt. I had nothing to do with that trade. I cover your line so I had to make the call. I am not out here taking garbage about Enron or anything like that. That's why I called Brian in London to call you. Please beleive me. That was arranged between them. I work neither Phibro or EKoch.
Andy Colman (Spectron) | {
"pile_set_name": "Enron Emails"
} |
-----Original Message-----
From: Nicolay, Christi L.
Sent: Wednesday, October 17, 2001 4:29 PM
To: Steffes, James D.; Kingerski, Harry; Novosel, Sarah; Fromer, Howard;
Landwehr, Susan M.; Guerrero, Janel; Allegretti, Daniel; Roan, Michael;
Hoatson, Tom; Shapiro, Richard; Kean, Steven J.; Presto, Kevin M.;
Belden, Tim; Herndon, Rogers; Black, Don; Misra, Narsimha; Brown, Jeff;
Aucoin, Berney C. ; Maurer, Luiz; Twiggs, Thane; Lavorato, John;
Kitchen, Louise; Dietrich, Janet; Delainey, David; Duran, W. David;
Calger, Christopher F.; Nord, Sue
Subject: Enron's FERC filing opposing icap
Today at FERC, Enron filed a pleading requesting the complete elimination of "icap" as a product (including any "reserve type" products) based on the fact that the real time spot markets of the RTOS can effectively price this in the cost of energy. The pleading also includes a proposed interim approach (with a two year sunset date). This pleading was made in response to FERC's request for comments on "Ensuring Sufficient Capacity Reserves In Today's Energy Markets."
The pleading and affidavit of Larry Ruff, PhD are attached. | {
"pile_set_name": "Enron Emails"
} |
Following are the working transactions in the Central Region/Gas that include
utility/producer outsourcing:
3rd Quarter
Peoples Energy Production Company
PEPC is a wholly owned subsidiary of Peoples Energy/Chicago. Transaction
consists of back-office, risk management and production management for their
Production company. Currently performing due diligence and will be making
proposal (in conjunction with Jean Mrha's group). Total volume of 30,000
MMbtu/d oil/gas equivalent for 3 years. 50% probability for closure.
4th Quarter
MGU-Michigan Gas Utilities
MGU is wholly owned subsidiary of Utilicorp. Transaction is a complete
outsourcing for the utility (28 BCF/year) for a term of 3 years beginning
October 2001. MGU will choose a singular counter-party to proceed to
structure/negotiations in the next few weeks. We have received very positive
feedback from MGU and place our success rate at > 50%. Original transaction
priced as Michigan Index trade, but effort was to determine their choice
counterparty. Initial indications are that the final structure will consist
of a basket of index Daily/FOM and fixed price. Russell Murrell and I have
been working closely with the decision makers at MGU to ensure success.
SEMCO (Project Pluto)
Utility based in Port Huron, Michigan with sales load of approximately 37
BCF/year. Portfolio currently outsourced to TransCanada (4/1/1999-3/31/2002)
and has been extremely beneficial to SEMCO. TransCanada (See Gas Daily
4/30/01) currently holds all fixed priced risk for load following and
management at around $3.60 and SEMCO was the only Michigan utility who
effectively managed the arrangements the Michigan utilities negotiated with
their commission. Bids are due in August and a counterparty will be chosen
3rd/4th quarter 2001 for a 3 year transaction commencing 4/1/2002. Visited
their office with Sylvia Pollan on 4/11 and our risk is removing the
incumbent, TransCanada. SEMCO will be proposing a fixed price structure to
Michigan commission.
On MGU and SEMCO, the Michigan commission will play a significant role in
dictating final structures. If Enron is not successful, these utilities will
be managed by other 3rd parties and we will keep you abreast of structure
outcomes.
Thanx,
Laura
John J Lavorato/ENRON@enronXgate
04/25/2001 05:48 PM
To: Jean Mrha/ENRON@enronXgate, Barry Tycholiz/NA/Enron@ENRON, Frank W
Vickers/NA/Enron@Enron, Laura Luce/Corp/Enron@Enron
cc: John Arnold/HOU/ECT@ECT
Subject:
John Aronld was curious about the outsourcing deals we were pursuing. Could
you please update him on the deals we are getting close on.
John | {
"pile_set_name": "Enron Emails"
} |
Vince
First meeting will be Dec 11 or 12 at West Deutche Landesbank, NY.
Look for phone-in details next week.
-----Original Message-----
From: [email protected] [mailto:[email protected]]
Sent: Friday, December 01, 2000 10:24 AM
To: [email protected]
Cc: [email protected]
Subject: Re: GARP Credit Derivatives Discussion Group
Philip,
Thanks for keeping me in mind. Yes, I would be interested.
Vince
"Philip Merrill" <[email protected]> on 11/30/2000 04:47:20 PM
Please respond to <[email protected]>
To: <[email protected]>
cc:
Subject: GARP Credit Derivatives Discussion Group
Vince
We are starting a credit derivatives discussion group in New York.
Is this something you would be interested in?
Like FAS 133 an 800-Call-IN number will be provided for Houston
participants.
Our first meeting will be in a week or so.
Regards,
Philip Merrill
Garp Regional Director, New York
973-258-1540 | {
"pile_set_name": "Enron Emails"
} |
-----Original Message-----
From: Andrews, Naveen
Sent: Wednesday, June 27, 2001 10:08 PM
To: Presley, Mike E; Jia, Winston; Thomas, Mark E.; Nordstrom, Mary; Tamarchenko, Tanya; Mao, Yi; Yu, Jin; Sokolov, Jason; Lew, Jaesoo; De, Rabi; Bharati, Rakesh
Cc: Port, David; Kaminski, Vince J
Subject: Convolution
Apropos to the questions in today's talk:
(1) whether a random variable X, a Multivariate T distribution, = bZ (where b is a univariate r.v =sqrt(v/y), and y is
a chi-square distribution with v degrees of freedom), can be correlationless, attached below is a succinct proof.
(2) One might think that since we are multiplying 2 random variables (i.e., Z is 2 dimensional) by the same scalar random variable (i.e., b), then the resultant random variables would tend to rise and fall together, and hence necessarily be linearly correlated. However, as is shown below, if Z is uncorrelated, then X is uncorrelated.
Please note, our approach is analagous, but not identical to the Glasserman and Co papers (distributed to Research). Glasserman computes the characteristic function of the Pr(P/L > x), so to compute the entire P&L pdf he would have to repeat the procedure for every value of x. We circumvent that iterative approach (with the messy characteristic function) and compute the pdf in one shot.
Please note, we are not comparing full reval vs. delta-gamma at all, that is a completely different story.
Naveen | {
"pile_set_name": "Enron Emails"
} |
Can you change my e-mail address to [email protected] as in the very near future Enron will stop supporting the current e-mail address.
Thank you,
Richard Ring
-----Original Message-----
From: ICAP_Buyers/[email protected] [mailto:ICAP_Buyers/[email protected]]
Sent: Thursday, October 18, 2001 4:13 PM
To: Padron, Juan; [email protected]
Subject: Validated Bid-Winter 2001-2002 November Monthly Auction
Your bid to purchase UCAP in the Winter 2001-2002 November Monthly Auction
has been validated. | {
"pile_set_name": "Enron Emails"
} |
Louise,
Per your request. Let me know if you have any questions. Also, I need to clarify a point on New Albany gain/loss.
Thanks,
Don | {
"pile_set_name": "Enron Emails"
} |
Please remove me from this list.
Bill Drummond
----- Original Message -----
From: "Dalia, Keith A - TOS-DITT1" <[email protected]>
To: <[email protected]>
Sent: Tuesday, May 15, 2001 5:39 PM
> You have been added to the RRGA-L mailing list (RTO West Congestion Model
> Content Group) by Keith Dalia <[email protected]>.
>
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> first time you subscribe to an electronic mailing list. If you ever need
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>
> Please note that it is presently possible for other people to determine
> that you are signed up to the list through the use of the "REVIEW"
> command, which returns the e-mail address and name of all the
> subscribers. If you do not want your name to be visible, just issue a
> "SET RRGA-L CONCEAL" command.
>
> More information on LISTSERV commands can be found in the LISTSERV
> reference card, which you can retrieve by sending an "INFO REFCARD"
> command to [email protected].
> | {
"pile_set_name": "Enron Emails"
} |
FYI
---------------------- Forwarded by Ina Rangel/HOU/ECT on 01/16/2001 08:19 AM
---------------------------
Move-Team@ENRON
01/12/2001 01:50 PM
Sent by: John Salinardo@ENRON
To: Ina Rangel/HOU/ECT@ECT
cc: Danita Cole/Corp/Enron@Enron
Subject: Re: Urgent - Move Request
Your request has been added to the 1/17 churn. Thank you.
Ina Rangel
01/12/2001 09:56 AM
To: Move-Team/EPSC/HOU/ECT@ECT, David A Cummings/HOU/ECT, Ben Hill/HOU/ECT,
Leslie Peebles/Corp/Enron
cc: Sunny Rodgers/EPSC/HOU/ECT@ECT
Subject: Urgent - Move Request
David, Ben & Leslie -
Is there anyway to go ahead and set him up on a turret today? He is going to
be working up here on Tuesday.
Sunny -
Please notate new mail stop
Thanks,
Ina | {
"pile_set_name": "Enron Emails"
} |
Mark:
I thought you might be interested in this.
Jeff
----- Forwarded by Jeffrey T Hodge/HOU/ECT on 07/18/2000 04:01 PM -----
Peter Keohane
Sent by: Linda Sietzema
07/18/2000 03:54 PM
To: Jeffrey T Hodge/HOU/ECT@ECT, Chris Gaffney/TOR/ECT@ECT, William S
Bradford/HOU/ECT@ECT, John Suttle/HOU/ECT@ECT, Russell Diamond/HOU/ECT@ECT,
Mark E Haedicke/HOU/ECT@ECT
cc:
Subject: Set-off - Alberta Court of Appeal Decision in Blue Range Resource
Corporation Insolvency
Please see the attached memo.
Peter | {
"pile_set_name": "Enron Emails"
} |
Thanks a bunch. So how in the world did you find yourself standing in front
of this tornado? | {
"pile_set_name": "Enron Emails"
} |
Enron North America Corp.
From: David W Delainey 06/02/2000 09:39 AM
Sent by: Kay Chapman
To: James A Ajello/HOU/ECT@ECT, Jaime Alatorre/NA/Enron@Enron, Sally
Beck/HOU/ECT@ECT, Tim Belden/HOU/ECT@ECT, Raymond Bowen/HOU/ECT@ECT,
Christopher F Calger/PDX/ECT@ECT, Wes Colwell/HOU/ECT@ECT, Janet R
Dietrich/HOU/ECT@ECT, Jeff Donahue/HOU/ECT@ECT, W David Duran/HOU/ECT@ECT,
Mark E Haedicke/HOU/ECT@ECT, Gary Hickerson/HOU/ECT@ECT, Mike
Jakubik/HOU/ECT@ECT, Scott Josey/Corp/Enron@ENRON, Vince J
Kaminski/HOU/ECT@ECT, John J Lavorato/Corp/Enron@Enron, Rodney
Malcolm/HOU/ECT@ECT, George McClellan/HOU/ECT@ECT, Rob Milnthorp/CAL/ECT@ECT,
Julia Murray/HOU/ECT@ECT, Edward Ondarza/HOU/ECT@ECT, Jere C
Overdyke/HOU/ECT@ECT, Kevin M Presto/HOU/ECT@ECT, Brian Redmond/HOU/ECT@ECT
cc: Terrellyn Parker/HOU/ECT@ECT, Patti Thompson/HOU/ECT@ECT, Debra
Davidson/PDX/ECT@ECT, Marsha Schiller/HOU/ECT@ECT, Catherine
DuMont/PDX/ECT@ECT, Shirley Tijerina/Corp/Enron@ENRON, Christy
Chapman/HOU/ECT@ECT, Tina Rode/HOU/ECT@ECT, Janette Elbertson/HOU/ECT@ECT,
Stella L Ely/HOU/ECT@ECT, Nicole Mayer/HOU/ECT@ECT, Tonai
Lehr/Corp/Enron@ENRON, Shirley Crenshaw/HOU/ECT@ECT, Kimberly
Hillis/HOU/ECT@ect, Ana Alcantara/HOU/ECT@ECT, Angie Collins/HOU/ECT@ECT,
Angela McCulloch/CAL/ECT@ECT, Carolyn George/Corp/Enron@ENRON, Dusty Warren
Paez/HOU/ECT@ECT, Donna Baker/HOU/ECT@ECT, Felicia Doan/HOU/ECT@ECT,
Katherine Benedict/HOU/ECT@ECT, David W Delainey/HOU/ECT@ECT
Subject: Review Approval
This is a reminder for you to please take a minute and select your reviewers
for the PRC feedback. Dave is also requesting that you provide a list of
accomplishments for the past six (6) months.
Please provide this information to your direct reports as soon as possible.
Thanks in advance for your prompt attention to this matter. If you have any
questions, please feel free to call Kay 3-0643.
Thanks,
Kay
- | {
"pile_set_name": "Enron Emails"
} |
Sara:
We have never gotten comfortable with the Canadian cash collateral issue.
You may recall that Shari recently looked into this but her situation was
limited to a particular counterparty. I was never comfortable with the
advice that I got from Blake, Cassells and would suggest that we follow up
with stikeman which is who Shari worked with. She may have some updated
memos on this in the file she was working on (I think it was Duke).
Molly and I never talked about this. Mark needs to pick someone who should
be in charge. Molly was never interested in meeting to talk globally about
this but I think that a meeting with her and Bradford needs to occur. Take
care. Got to go. Hope to see you in about 2 weeks.
Carol St. Clair
EB 3892
713-853-3989 (Phone)
713-646-3393 (Fax)
[email protected]
Sara Shackleton
08/03/00 01:31 PM
To: Carol St Clair/HOU/ECT@ECT
cc: Mark Taylor/HOU/ECT@ECT
Subject: Cash collateral in Canada
Carol: Hope all is well. We are missing you every day.
(1) On a "swap" related note, we have a Canadian party requesting the
ability to post cash collateral to ENA. Can you recall where we left off on
the issue? I seem to remember conflicting advice (Peter's insistence upon
the Stikeman memo and ENA simply not agreeing to accept cash) and uncertainty
as to how ENA could perfect its interest and what law governs (in cash held
in a U.S. account).
(2) On a "credit" related note, I was forwarded the 7/24/00 Margin Exception
Report (originally sent to your attention). What were you doing to follow up
on this report? Yesterday, Mary gave me a copy of a "collateral letter"
being sent by Molly Harris. Did you speak with Mary about working on this
project in your absence?
Edward Ondarza is moving to EBS. Stephanie Panus starts on Monday. That's
all the news for now.
Talk to you soon. Sara
P.S. Can you send photos over the net? | {
"pile_set_name": "Enron Emails"
} |
constructive?
[email protected]
05/09/2001 05:59 PM
To: [email protected]
cc:
Subject:
Reply Message:
Reply from STEVEN KEAN is Yes to [email protected]||meeting still
going? jeff
Original Message:
[email protected]||meeting still going? jeff | {
"pile_set_name": "Enron Emails"
} |
Hi,
This is from Bill Sonnenschein, the instructor for E291B-1 Speaking for
Management.
Hello all.
And welcome in advance.
I want to pass on some information to you to prepare you for the first
class session. Class will meet on February 3 & 24, 2001, from 9:00 a.m. to
6:00 p.m. The time is very short for a speech course. I am asking you to
prepare a little before the first session, to assure you get as much as you
can out of the course.
Please come to the first day of class with a prepared persuasive speech (a
speech that moves the audience to action). The speech should be three to
five minutes in length, and on a topic you feel very strongly about. I do
not care if the topic concerns business. It could be political, social,
moral, or even spiritual. The most important thing is that you believe
strongly in the message. Leaders must learn to speak "from the heart."
The focus of the course will be on speaking in a business context, but it
is important to speak with feeling first, and learn to transfer that skill
to a business context. I do not care if you write the speech out, or
create an outline and rehearse giving the speech extemporaneously. The
idea is to be prepared. I will talk about delivering from a manuscript as
well as the advantages of extemporaneous speaking as part of one lecture.
You may also want to buy a blank video tape. You will not need it till the
second Saturday, and even then using it will be optional. Videotaping
speeches is an excellent learning tool, but can be counter-productive if
students get too nervous doing it. I never use tape the first class
session, and you choose if you want to be taped the second session.
If you have any questions, please feel free to call me at 510-336-1239, or
e-mail me at [email protected].
Thanks. I am looking forward to working with you.
Bill
=======================================================
William Sonnenschein
Communications Group Faculty
Haas School of Business
University of California, Berkeley
510-643-8005 (Office) or 510-336-1239 (Home)
======================================================= | {
"pile_set_name": "Enron Emails"
} |
----- Forwarded by Jeff Dasovich/NA/Enron on 01/24/2001 11:29 AM -----
Scott Govenar <[email protected]>
01/24/2001 08:17 AM
To: Hedy Govenar <[email protected]>, Mike Day <[email protected]>, Bev
Hansen <[email protected]>, Jeff Dasovich <[email protected]>, Susan J Mara
<[email protected]>, Joseph Alamo <[email protected]>, Paul Kaufman
<[email protected]>, David Parquet <[email protected]>, Rick
Johnson <[email protected]>, Marcie Milner <[email protected]>, Sandra
McCubbin <[email protected]>, Tim Belden <[email protected]>, Rick
Shapiro <[email protected]>, Jim Steffes <[email protected]>, Alan
Comnes <[email protected]>, Chris Calger <[email protected]>, Mary Hain
<[email protected]>, Joe Hartsoe <[email protected]>, Donna Fulton
<[email protected]>, Steven Kean <[email protected]>, Karen Denne
<[email protected]>
cc:
Subject: Security
Attached, please find the security assessment legislation SBX1 13.
http://info.sen.ca.gov/pub/bill/sen/sb_0001-0050/sbx1_13_bill_20010123_introdu
ced.pdf | {
"pile_set_name": "Enron Emails"
} |
<<ClintonSPR.doc>>
============
David Nemtzow
Alliance to Save Energy
[email protected] <mailto:[email protected]>
ph: (202) 857-0666
fax: (202) 331-9588
http://www.ase.org <http://www.ase.org>
- ClintonSPR.doc | {
"pile_set_name": "Enron Emails"
} |
Here are the answers to your questions:
1. Cove Point LNG is a peaking facility. There are three 10-day peaking
contracts for 50,000 Dthd each or a total of 150,000 Dthd of peaking
capability
by delivery from the Cove Point pipeline into the east side of TCO's system.
The gas can also go directly into Washington Gas Light or into PEPCO's Chalk
Point electric generation facility. The variable transport cost on Cove Point
LNG is less than $0.005/Dth. This gas was hedged by CES as baseload
withdrawal
during the January 1999, but can be withdrawn any time before the end of the
contracts which is 2/29/2000.
2. The TCO storage is the CES retail storage. Enron's contract with CES
retail contains the withdrawal schedule for this storage. I would work with
Ed
McMichael's group who should be getting this schedule from CES Retail.
[email protected] on 12/23/99 08:22:40 AM
Please respond to [email protected]
To: Scott Goodell [NOTES.sgoodel]@LMSOV
cc: John Hodge/CES/ColumbiaGas@COLUMBIAGAS, [email protected]
Subject: Storage Questions
I have 2 storage questions for now.
1. Cove Point LNG - it's my understanding that this is a LNG peaking
facility.
The current balance is 1,500,000 dth. Did you have a withdrawal schedule or
were you going to use this as peaking gas?
2. TCO contract 63304 - has capacity of 7 BCF, and I think your current
storage
balance is about 5 BCF. What is your withdrawal schedule for Jan??
thanks | {
"pile_set_name": "Enron Emails"
} |
Thanks for the birthday card. I had a fairly quiet birthday. I went to work
that day and went out to dinner that night.
Hope you are all doing well. We're all fine, but very busy!!!
Take care,
Susan
[email protected] on 03/04/2001 10:05:20 AM
Please respond to [email protected]
To: [email protected]
cc:
Subject: The Teneur sent you a Yahoo! Greeting
Surprise! You've just received a Yahoo! Greeting
from "The Teneur" ([email protected])!
To view this greeting card, click on the following
Web address at anytime within the next 60 days.
http://greetings.yahoo.com/greet/view?WE6IGWDU6BWPM
If that doesn't work, go to http://greetings.yahoo.com/pickup and
copy and paste this code:
WE6IGWDU6BWPM
Enjoy!
The Yahoo! Greetings Team
-------------------------
Yahoo! Greetings is a free service. If you'd like to send someone a
Yahoo! Greeting, you can do so at http://greetings.yahoo.com/ | {
"pile_set_name": "Enron Emails"
} |
Let's let Govt. Affairs get some more info before doing anything. | {
"pile_set_name": "Enron Emails"
} |
Dear Editorial Review Board Members,
For some reason, only one page was attached to your prior email. Attached
this time is the full press release regarding out annual meeting. Let me
know if you have concerns, otherwise we will let Laurie distribute it on
Monday. Sorry for the confusion. Best Regards, JoAnn Garcia
- pr000802.PDF | {
"pile_set_name": "Enron Emails"
} |
<http://rs6.net/on.jsp?t=1010954754887.1010945480759&o=http://ccprod.roving.com/roving/images/p1x1.gif>
<http://www.pmaconference.com/imagesemail/id000040/id00004.jpg>
Project Finance Week
March 11-15, 2002 ? Metropolitan Hotel, New York City
Click Here To Download A Complete Conference Brochure <http://www.pmaconference.com/pfwbro_pma.pdf>
<http://www.pmaconference.com/imagesemail/id000040/id00007.gif>
Infocast's Project Finance Week continues to be rated the best introductory course on project finance available to developers, financiers, attorneys, utility representatives and vendors. Course #1, Project Finance The Tutorial, has been revamped for the new realities of 2002, offering in-depth sessions on today's hottest financing trends, including portfolio financing, synthetic leasing, and risk management strategies for merchant financing. These in-depth sessions will be enhanced by hearing the lessons learned by active participants in many of the top project financings of 2001.
<http://www.pmaconference.com/imagesemail/id000040/id00005.gif> <http://www.pmaconference.com/imagesemail/id000040/id00006.gif>
? The Contractor's Perspective On Construction, Completion And Performance Risk
? The Role Of Credit Ratings In Project Financed Transactions
? Structuring The Project As A Synthetic Lease
? Structuring Your Project And Getting Financing In The Post Enron Collapse Environment
? Real-World Acquisitions And Divestitures Of Distressed Projects ? Moving From Commercial Agreements To Financeable Contract
? Translating And Negotiating The "Underwriting" Term Sheet
? Completion Issues
? Fuel & Tariffs
? The Loan Agreement - Locating And Delor=ng The Land Mines
? The Security Agreements
? Consents & Opinions
? Review Of Additional Issues Common To International Projects
<http://www.pmaconference.com/imagesemail/id000040/id00008.gif>
WORKSHOP #1: 8:00 AM - 12:00 PM
Negotiating and Documenting the Key Project Agreements
WORKSHOP #2: 1:30 PM - 5:00 PM
Predicting the Price of Power for Asset Valuation in Merchant Power Financings
<http://www.pmaconference.com/imagesemail/id000040/id00007.gif>
Click Here To Download A Complete Conference Brochure <http://www.pmaconference.com/pfwbro_pma.pdf>
Visit our Subscription Center to edit <http://ccprod.roving.com/roving/d.jsp?p=oo&m=1000838503237&[email protected]> your interests or unsubscribe <http://ccprod.roving.com/roving/d.jsp?p=oo&m=1000838503237&[email protected]>.
View our privacy policy <http://ccprod.roving.com/roving/CCPrivacyPolicy.jsp>. | {
"pile_set_name": "Enron Emails"
} |
---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 04/18/2001
07:57 AM ---------------------------
From: Marie Hejka@ENRON on 04/17/2001 11:16 PM
To: Sue Vasan/Enron@EnronXGate, Rita Hartfield/Enron Communications@Enron
Communications, Andrea Yowman/Corp/Enron@ENRON, Robert Travers
Jr/GPGFIN/Enron@ENRON, Kalen Pieper/HOU/EES@EES, Ganapathy
Ramesh/Enron@EnronXGate, Amy Oberg/HOU/EES@EES, Kate Cole/Enron@EnronXGate,
Vince J Kaminski/HOU/ECT@ECT, Earlene O'Connell/Enron@EnronXGate, Jim
Gearhart/Enron@EnronXGate, Allan Sommer/Enron@EnronXGate, David Gossett/Enron
Communications@Enron Communications, Jon Adler/Enron@EnronXGate, Heather
Purcell/Enron@EnronXGate, LaDonna Dervin/OTS/Enron@ENRON, Kathleen
Pope-Sance/HOU/EES@EES, Andrea V Reed/Enron@EnronXGate, Mary
Clark/Corp/Enron@ENRON, Judith Schlesinger/Enron@EnronXGate, Chuck
Hahn/SFO/EES@EES, Cindy Shaffer/Enron@EnronXGate, Keith Halpin/HOU/EES@EES,
Alan Marsh/Enron@EnronXGate, Garion Dillingham/NA/Enron@Enron, Karen K
Heathman/Enron@EnronXGate, Cherylene Westbrook/Enron@EnronXGate, Sharron
Westbrook/Corp/Enron@ENRON, George Wasaff/Enron@EnronXGate, Brandon
Rigney/Corp/Enron@ENRON, Karina Prizont/Enron@EnronXGate
cc: Regina Karsolich/Enron@EnronXGate, Leslie D Dever-McCauley/HOU/EES@EES,
Candi Woods/Enron Communications@Enron Communications, Anthony Mends/Enron
Communications@Enron Communications, [email protected],
[email protected], [email protected],
[email protected], Krista Reed/Enron Communications@Enron
Communications
Subject: Reminder - EnronAnywhere Portal Project Meeting
You are scheduled to attend the EnronAnywhere Portal Project Meeting.
When: Wednesday, April 18, 2001
Where: EB50M Dining Room
Time: 12:00 - 4:00
Lunch will be served.
Thank you in advance for helping us to create ONE Enron. Your attendance and
participation is certain to make this project a huge success.
Call me if you have any questions.
Thanks,
Marie Hejka
EnronAnywhere
3 9698
P.S. Note, we decided not to send a pre-workshop assignment.
See you there. | {
"pile_set_name": "Enron Emails"
} |
---------------------- Forwarded by David W Delainey/HOU/ECT on 11/09/2000
05:27 PM ---------------------------
[email protected] on 11/09/2000 03:51:22 PM
To: [email protected]
cc:
Subject: Approval for reviewer
MILNTHORP,PHILLIP R has suggested reviewers and submitted them for your
approval. You may review/modify this list of reviewers by logging on to PEP
at http://pep.corp.enron.com and going to Supervisor Services. Please
remember, no feedback can be completed on MILNTHORP,PHILLIP R until you have
approved the list. | {
"pile_set_name": "Enron Emails"
} |
I'm sorry I will be unable to participate -- this meeting conflicts with an
IEP Board meeting.
Pam Ross
<[email protected] To: [email protected], Chris Micheli
et> <[email protected]>,
[email protected],
[email protected], [email protected],
04/25/01 [email protected], [email protected],
02:36 PM [email protected], [email protected]
Please cc: [email protected], [email protected]
respond to bcc:
pross Subject: CMTA Tax: Friday meeting to discuss
Windfall Profits Tax
bills
TO:????????? Kassandra Gough--Calpine
Chris Micheli--Carpenter Snodgrass
Carolyn Baker--Duke Energy
Anne Kelly--Duke Energy
David Parquet--Enron
Jeff Dasovitch--Enron
Tom Allen--Mirant
John Stout--Reliant Energy
Stephanie Newell--Reliant Energy
Fred Pownal--Kahl/Pownall Advocates
FROM:?? Carrie-Lee Coke
RE:????????? Friday, April 27 Meeting at 2:00 pm in the CMTA Conference
room to discuss the Windfall Profits Tax
bills--SBX1 1 (Soto) and ABX1 128 (Corbett)
We are reserving the CMTA conference room for 2:00 pm on Friday, April 27
to meet to discuss the Windfall Profits Tax bills--SBX1 1 (Soto) and ABX1
128 (Corbett).? Please RSVP to Pam Ross at 916-498-3320 or [email protected]
if you are able to attend. . . . Thanks. | {
"pile_set_name": "Enron Emails"
} |
The vast majority of these made me laugh out loud...enjoy! SRS
?
- coolpics.doc | {
"pile_set_name": "Enron Emails"
} |
Please discuss this with Morgan. I didn't know CGV had a delivery point off
Transco.
---------------------- Forwarded by Chris Germany/HOU/ECT on 12/28/99 09:24
AM ---------------------------
[email protected] on 12/28/99 07:52:34 AM
To: Dan Junek/HOU/ECT@ECT, Chris Germany/HOU/ECT@ECT
cc:
Subject: TRANSCO # behind CGV JAN 2000
---------------------- Forwarded by Paul Drexelius/CES/ColumbiaGas on 12/28/99
07:58 AM ---------------------------
Heidi Boyd
12/27/99 06:16 PM
To: Noel Bartlo/CES/ColumbiaGas@ColumbiaGas, Paul
Drexelius/CES/ColumbiaGas@ColumbiaGas
cc:
Subject: TRANSCO # behind CGV JAN 2000
Hi Noel and Paul,
I don't know who else to copy on this, please forward it to them and cc me if
you don't mind.
I need 498 dth's/day total to be sent to CGV for three of my customers in
Jan 2000. Thanks! | {
"pile_set_name": "Enron Emails"
} |
-----Original Message-----
From: Whitman, Britt
Sent: Tuesday, October 02, 2001 5:16 PM
To: Allen, Phillip K.; Kitchen, Louise; Lavorato, John; Presto, Kevin M.
Cc: Black, Don; Calger, Christopher F.; Davis, Mark Dana; Gaskill, Chris; Gilbert-smith, Doug; Grigsby, Mike; Herndon, Rogers; Johnston, Robert; Lewis, James; Milnthorp, Rob; Sturm, Fletcher J.; Walsh, Kristin
Subject: Western Issues Update 10-02-2001 | {
"pile_set_name": "Enron Emails"
} |
tina horowitz
4701 pine street m8
philadelphia, PA 19143
[email protected]
To Mr. Ken Lay,
I'm writing to urge you to donate the millions of dollars you made from selling Enron stock before the company declared bankruptcy to funds, such as Enron Employee Transition Fund and REACH, that benefit the company's employees, who lost their retirement savings, and provide relief to low-income consumers in California, who can't afford to pay their energy bills. Enron and you made millions out of the pocketbooks of California consumers and from the efforts of your employees.
Indeed, while you netted well over a $100 million, many of Enron's employees were financially devastated when the company declared bankruptcy and their retirement plans were wiped out. And Enron made an astronomical profit during the California energy crisis last year. As a result, there are thousands of consumers who are unable to pay their basic energy bills and the largest utility in the state is bankrupt.
The New York Times reported that you sold $101 million worth of Enron stock while aggressively urging the company's employees to keep buying it. Please donate this money to the funds set up to help repair the lives of those Americans hurt by Enron's underhanded dealings.
Sincerely,
tina horowitz | {
"pile_set_name": "Enron Emails"
} |
I talked to Ray Bowen today regarding the Finance Comm. book. He and Jeff will combine the old CFO and Treasurer's report into one Finance Report. Please make a placeholder on the agenda. The materials will most likely be handed out at the meeting, so please put in a sheet saying that behind their tab.
Thanks to each of you for your diligence on this effort. Paula
CONFIDENTIALITY NOTICE
The information contained in this email may be confidential and/or privileged. This email is intended to be reviewed by the individual or organization named above. If you are not the indented recipient, you are hereby notified that any review, dissemination or copying of this email or its attachments, if any, or the information contained herein is prohibited. If you receive this email in error, please immediately notify the sender by return email and delete this email from your system. Thank you. | {
"pile_set_name": "Enron Emails"
} |
Gloria and Megan,
here is the Crestone Gathering Service and Fuel Sale for September 2001.
(Megan - Do you finalize the Fuel Sale to Crestone? (I'm having a brain freeze today and I can't remember).)
Call me if you have any questions.
Theresa | {
"pile_set_name": "Enron Emails"
} |
?
----- Original Message -----
From: kamelang
To: Undisclosed-Recipient:;
Sent: Wednesday, November 15, 2000 11:40 AM
Subject: Fw: NEVER DIAL AREA CODE 809
?
----- Original Message -----
From: Cherise Hayes
To: Tricia DuBois ; Rocky Stevens ; Robyn ; Mike M ; Mike A ; Melissa ; Karyn
; Brent Redus ; Brian South ; Karl ; Julia ; Jennifer Carranza ; Frances
; Dad ; Connie ; Chad Seger ; Bill Roberts
Sent: Wednesday, November 15, 2000 11:12 AM
Subject: Fw: NEVER DIAL AREA CODE 809
<< <? DON'T EVER DIAL AREA CODE 809
? > > > > >
? > > > > >This one is being distributed all over the US.? This is pretty
? scary
? > > > > >especially given the way they try to get you to call.? Be sure
you
? > > read
? > > > > this
? > > > > >& pass it on to all your friends & family so they don't get
? scammed!
? > > > > >
? > > > > >MAJOR SCAM:
? > > > > >Don't respond to Emails, phone calls, or web pages which tell
you
? to
? > > >call
? > > > > >an "809" Phone Number.? This is a very important issue of Scam
? > > Busters
? > > > > >3D21 because it alerts you to a scam that is spreading
*extremely*
? > > > > >quickly - can easily cost you $24100 or more, and is difficult
to
? > > avoid
? > > > > >unless you are aware of it.? We'd like to thank Paul Bruemmer and
? > > Brian
? > > > > >Stains for bringing this scam to our attention.
? > > > > >
? > > > > >This scam has also been identified by the National Fraud
? Information
? > > > > >Center & is costing victims a lot of money.? There are lots of
? > > >different
? > > > > >permutations of this scam, but HERE'S HOW IT WORKS:? You will
? receive
? > > a
? > > > > >message on your answering machine or your pager, which asks you
to
? > > > > >call a number beginning with area code 809.
? > > > > >
? > > > > >The reason you're asked to call varies.? It can be to receive
? > > >information
? > > > > >about a family member who has been ill, to tell you someone has
? been
? > > > > >arrested, died, to let you know you have won a wonderful prize,
? etc.
? > > > > >
? > > > > >In each case, you are told to call the 809 number right away.
Since
? > > >there
? > > > > >are so many new area codes these days, people unknowingly return
? > > these
? > > > > >calls. If you call from the US, you will apparently be charged
? $2425
? > > > > >per-minute.
? > > > > >
? > > > > >Or, you'll get a long recorded message.? The point is, they will
? try
? > > to
? > > > > keep
? > > > > >you on the phone as long as possible to increase the charges.
? > > > > > Unfortunately, when you get your phone bill, you'll often be
? charged
? > > >more
? > > > > >than? $24100.00.
? > > > > >
? > > > > >WHY IT WORKS:
? > > > > >The 809 area code is located in the British Virgin Islands (the
? > > >Bahamas).
? > > > > >The 809 area code can be used as a "pay-per-call" number,
similar
? to
? > > >900
? > > > > >numbers in the US. Since 809 is not in the US, it is not covered
by
? > > >U.S.
? > > > > >regulations of 900 numbers, which require that you be notified &
? > > warned
? > > > > >of charges & rates involved when you call a "pay-per-call"
number.
? > > > > >
? > > > > >There is also no requirement that the company provide a time
period
? > > > > >during which you may terminate the call without being charged.
? > > >Further,
? > > > > >whereas many U.S. phones have 900 number blocking to avoid these
? > > > > >kinds of charges, 900 number blocking will not prevent calls to
the
? > > 809
? > > > > >area code.
? > > > > >
? > > > > >We recommend that no matter how you get the message, if you are
? > > > > >asked to call a number with an 809 area code that you
? don'trecognize
? > > > > > and/or investigate further and just disregard the message.
? > > > > >
? > > > > >Be wary of email or calls asking you to call an 809 area code
? number.
? > > > > >It's important to prevent becoming a victim of this scam, since
? > > trying
? > > >to
? > > > > >fight the charges afterwards can become a real nightmare. That's
? > > > > >because you did actually make the call.
? > > > > >
? > > > > >If you complain, both your local phone company & your long
distance
? > > > > >carrier will not want to get involved & will most likely tell
you
? > > that
? > > > > they're
? > > > > >simply providing the billing for the foreign company.? You'll end
? up
? > > > > dealing
? > > > > >with a foreign company that argues they have done nothing wrong.
? > > > > >
? > > > > >Please forward this entire message to your friends, family &
? > > colleagues
? > > > > > to help them become aware of this scam so they don't get ripped
? off. | {
"pile_set_name": "Enron Emails"
} |
Pretty damn funny.
PL
---------------------- Forwarded by Phillip M Love/HOU/ECT on 01/24/2001
01:49 PM ---------------------------
Dawn C Kenne
01/24/2001 12:02 PM
To: "Amanda Barnard" <[email protected]>, Michelle Bythewood
<[email protected]>, "Bythewood, Richard" <[email protected]>, Linda J
Ewing/HOU/ECT@ECT, [email protected] (Max Fledderjohann), Darron C
Giron/HOU/ECT@ECT, [email protected], [email protected] @ ENRON,
"Keeling, Ingelisa" <[email protected]>, "B. Kenne" <[email protected]> @
ENRON, "Dennis Mensinger" <[email protected]>, plmichaud
<[email protected]>, Mark Troyer <[email protected]>, "Ray Vincent"
<[email protected]> @ ENRON, <[email protected]> @ ENRON,
Michelle C Waldhauser/LON/ECT@ENRON, Eric Wardle/HOU/ECT@ECT, Gary Wilson
<[email protected]>, Jason Wolfe/NA/Enron@ENRON, Ed Zajicek
<[email protected]>, Jeffrey C Gossett/HOU/ECT@ECT, Phillip M
Love/HOU/ECT@ECT
cc:
Subject: FW: Bush acceptance speech
---------------------- Forwarded by Dawn C Kenne/HOU/ECT on 01/24/2001 12:00
PM ---------------------------
"PATTI DESMARAIS" <[email protected]> on 01/24/2001 11:46:21 AM
Please respond to [email protected]
To: "ANN MCMILLAN" <[email protected]>, "DAWN" <[email protected]>,
"Kathy" <[email protected]>, "KAY" <[email protected]>, "POOLE
Mike" <[email protected]>, "STEVEN &BECKY" <[email protected]>, "TERRI"
<[email protected]>, "TRACEY" <[email protected]>
cc:
Subject: FW: Bush acceptance speech
> [Original Message]
> From: SMITH, MARIE-FRANCE A. (JSC-OC) <[email protected]>
> To: [email protected] <[email protected]>
> Date: 1/22/01 10:22:42 AM
> Subject: FW: Bush acceptance speech
>
>
>
> -----Original Message-----
> From: TETLEY, SANDRA J. (JSC-BJ)
> Sent: Monday, January 22, 2001 9:12 AM
> Subject: FW: Bush acceptance speech
>
>
> This is funny!
>
>
>
> > > > > >Subject: Bush's acceptance speech (first draft)
> > > > > >
> > > > > >
> > > > > >My fellow Americans, it's about fucking time. All you liberals
> > > > > >can just kiss my big, white Texas ass if you think I'm gonna
> > > > > >spew a boatload of bipartisan bullshit. Let's set the record
> > > > > >straight here. I won, dammit. Hell, I won FOUR OR FIVE
> > > > > >TIMES, you stupid bastards. We got the Presidency, we got
> > > > > >Congress, and by the end of four years we'll have even more
> > > > > >of the Supreme Court. The Republicans are here, and we're
> > > > > >gonna show you how it's done.
> > > > > >
> > > > > >Ya'll want me to reach across party lines now? How 'bout I
> > > > > >reach across and bitch-slap all your sorry-liberal-monkey-
> > > > > >asses? How'dya like that? Don't get me wrong, here. The
> > > > > >sense of satisfaction I'm feeling right now isn't that I've won
> > > > > >- it's that I won't have to listen to Al Gore bitch and moan
> > > > > >about "letting every vote count". The only reason this went
> > > > > >as far as it did is because you Democrats have a playground
> > > > > >crybaby as your poster-boy, and I for one am glad I won't
> > > > > >have to see him on TV anymore. This might sound snippy,
> > > > > >Mr. Gore, but as we used to say in the sandlot...LOSERS
> > > > > >WALK!!!
> > > > > >
> > > > > >As I said in my campaign, I promised to be a president who
> > > > > >focuses on education. My first task as President will be to
> > > > > >start an educational program for all you Florida-idiots who
> > > > > >can't tell your elbow from your asshole or how to poke a
> > > > > >stylus through the right hole. I don't get you liberal Democrats:
> > > > > >when we're talking about Bill Clinton and some office whore,
> > > > > >you say that lack of penetration doesn't count; but when it
> > > > > >comes to ballots, lack of penetration DOES count.
> > > > > >
> > > > > >You want a solution to this problem? Take some Viagra, you
> > > > > >old farts, and finish what you started next election. Until then,
> > > > > >I want to ask you just one question: "Who's yer daddy???"
> > > > > >
> > > > > >And so I humbly accept the office of President of these
> > > > > >United States.
> > > > > >
> > > > > >Thank you.
> > > > > >
> > > > > >
> > > > > >
> > > >
> > > >
> > | {
"pile_set_name": "Enron Emails"
} |
Market Participants,
The California ISO is conducting an Internet site usability
study to determine how we can improve our Internet site. Toward this end, we
have contracted with Carta, Inc. to conduct a site study and recommend
revisions for the site. Stakeholder involvement is an important part of this
process. We have prepared a Web Site Usability Survey as a part of this
effort. This survey is on-line at our site.
Please take a few minutes to fill out the survey at
http://www.caiso.com/contact/survey.html
<http://www.caiso.com/contact/survey.html> . Your feedback is vital to the
success of this program. Responses will be sent directly to Carta for review
and tabulation.
Please note, this project does not involve the OASIS section
of our site. The OASIS redesign project is a separate effort. See
http://www.caiso.com/clientserv/xml/ <http://www.caiso.com/clientserv/xml/>
for information on the OASIS redesign effort.
If you have any questions, please contact the ISO Webmaster.
Thank you for your continued support.
ISO Webmaster
http://www.caiso.com/ <http://www.caiso.com/>
[email protected] <mailto:[email protected]> | {
"pile_set_name": "Enron Emails"
} |
she took good care of us
Bruce
-----Original Message-----
From: Scott Butcher [mailto:[email protected]]
Sent: Wednesday, January 16, 2002 10:52 AM
To: Mills, Bruce
Subject: RE: Pictures
Its called the Cruise Center here in San Antonio.
April was the person that helped us this time but anyone of the people there
can help.
210-585-9088 or 800-869-0938
Scott
>From: "Mills, Bruce" <[email protected]>
>To: <[email protected]>
>Subject: RE: Pictures
>Date: Tue, 15 Jan 2002 13:58:12 -0600
>
>hey what is your agent's name and phone number for some amigos.
>
>BRuce
>
>-----Original Message-----
>From: [email protected] [mailto:[email protected]]
>Sent: Tuesday, January 15, 2002 1:47 PM
>To: Mills, Bruce
>Subject: Pictures
>
>
>Everyone,
>
>I uploaded about 36 of the better pictures from the cruise. Feel free
>to browse or order pictures.
>
>Bruce/Kristi/Mia/Steve - I will be sending you a CD with all the
>pictures to do with whatever you want.
>
>*********
>The message above was sent to you by Scott Butcher
>using Shutterfly, the best place to print, share and get creative
>with your pictures online.
>
>HOW TO VIEW THESE PICTURES
>To see the pictures Scott Butcher
>is sharing with you, simply go to:
>
> http://www.shutterfly.com/my/osi.jsp?i=67b0de21b31f5c53454c
>
> (If you can't click on this link, try copying and pasting it
> into your web browser.)
>
>If you like the pictures, you'll be able to order prints or save them
>into a Shutterfly account of your own where you can use all of
>Shutterfly's features, including photo greeting cards, frames, and
>enhancement tools.
>
>If you're not a member yet, you'll get 15 free 4x6 prints just for
>signing up!
>
>If you have any questions about Shutterfly, please contact our
>customer service department using our online webforms:
>
>http://www.shutterfly.com/support/form8.jsp
>
>*************************************
>Shutterfly
>Where your pictures live
>http://www.shutterfly.com/
>*************************************
>
>
>
>**********************************************************************
>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.
>**********************************************************************
>
_________________________________________________________________
Get your FREE download of MSN Explorer at http://explorer.msn.com/intl.asp. | {
"pile_set_name": "Enron Emails"
} |
dear darlings, this all sounds dreamy to moi... yayayayayayayayayy!
-----Original Message-----
From: Prentice Sellers [mailto:[email protected]]
Sent: Tuesday, June 12, 2001 2:55 PM
To: Molly Coffin; [email protected]; 'Scott Laughlin'; Colleen
Silva
Subject: RE: Domaine
This is what I think the deal is. The boys have to take two cars cause
there will be six of us on the way back. I think Scott and Molly (the
creative, non-9-5 types) are going to drive together and try to leave before
traffic on Friday (i.e., before 2 p.m.). My guess is that then Colleen and
Jeff (the creative-but-not-giving-up-their-day-job types) are going to drive
together and leave after traffic. (i.e., after 7 p.m.). This scenario,
however, is all my own deductive reasoning and could easily be WRONG. I
expect we will know more after tonight...
-----Original Message-----
From: Colleen Silva [mailto:[email protected]]
Sent: Tuesday, June 12, 2001 1:01 PM
To: 'Scott Laughlin'; 'PP'; '[email protected]'
Subject: RE: Domaine
hey boys am i driving with you on friday and if so what time'er ya leaving?
-----Original Message-----
From: Cameron Sellers [mailto:[email protected]]
Sent: Tuesday, June 12, 2001 12:04 PM
To: 'Colleen Silva (RedSky)'; 'Molly Coffin (Hotmail)'; 'Scott
Laughlin'; 'PP'; '[email protected]'
Subject: FW: Domaine
We usually stop in Napa on the way back from the festival for an early
dinner and relaxing before heading back to the city. So, don't forget to
bring your bathing suits with you so you can swim and stuff.
See you all up there. Wish me luck flying with Prentice at the
controls!!!!!
-C
-----Original Message-----
From: Nancy Sellers [mailto:[email protected]]
Sent: Tuesday, June 12, 2001 10:14 AM
To: 'Cameron Sellers'
Subject: RE: Domaine
Good - tell them to bring their swimming suits. We'll also have volleyball,
croquet, ping pong and bocce (just kidding)
-----Original Message-----
From: Cameron Sellers [mailto:[email protected]]
Sent: Tuesday, June 12, 2001 10:06 AM
To: 'Nancy Sellers'
Subject: RE: Domaine
There will probably be 6 of us (the four + molly and colleen)
Cameron Sellers
Vice President, Business Development
PERFECT
1860 Embarcadero Road - Suite 210
Palo Alto, CA 94303
[email protected]
650.798.3366 (direct dial)
650.269.3366 (cell)
650.858.1095 (fax)
-----Original Message-----
From: Nancy Sellers [mailto:[email protected]]
Sent: Tuesday, June 12, 2001 10:02 AM
To: 'Cameron Sellers'
Subject: RE: Domaine
The one with the lavender sauce - I sure do - and I even have fresh lavender
in the garden. How many people?
-----Original Message-----
From: Cameron Sellers [mailto:[email protected]]
Sent: Tuesday, June 12, 2001 9:53 AM
To: 'Nancy Sellers'
Subject: RE: Domaine
Something with polenta. How about the pork chop we made before. Do you
still have that recipe??
Cameron Sellers
Vice President, Business Development
PERFECT
1860 Embarcadero Road - Suite 210
Palo Alto, CA 94303
[email protected]
650.798.3366 (direct dial)
650.269.3366 (cell)
650.858.1095 (fax)
-----Original Message-----
From: Nancy Sellers [mailto:[email protected]]
Sent: Tuesday, June 12, 2001 8:12 AM
To: 'Cameron Sellers'
Subject: RE: Domaine
of course you can what would you like to fix
-----Original Message-----
From: Cameron Sellers [mailto:[email protected]]
Sent: Monday, June 11, 2001 3:46 PM
To: 'Nancy Sellers'
Subject: RE: Domaine
Not sure which pictures I want - I just thought some of them were pretty
good. I'll have to figure it out.
I think you are going to see us sometime. We usually stop by Napa on our
way back from the festival this weekend. Will you be around - can we do our
Sunday dinner in Napa??
Cameron Sellers
Vice President, Business Development
PERFECT
1860 Embarcadero Road - Suite 210
Palo Alto, CA 94303
[email protected]
650.798.3366 (direct dial)
650.269.3366 (cell)
650.858.1095 (fax)
-----Original Message-----
From: Nancy Sellers [mailto:[email protected]]
Sent: Monday, June 11, 2001 2:37 PM
To: 'Cameron Sellers'
Subject: RE: Domaine
I sent some to Linda - which ones do you want? Am I ever going to see you
again?
-----Original Message-----
From: Cameron Sellers [mailto:[email protected]]
Sent: Monday, June 11, 2001 1:33 PM
To: 'Nancy Sellers'
Subject: RE: Domaine
They were great pictures!! I want some copies ok??
Cameron Sellers
Vice President, Business Development
PERFECT
1860 Embarcadero Road - Suite 210
Palo Alto, CA 94303
[email protected]
650.798.3366 (direct dial)
650.269.3366 (cell)
650.858.1095 (fax)
-----Original Message-----
From: Nancy Sellers [mailto:[email protected]]
Sent: Monday, June 11, 2001 11:17 AM
To: 'Cameron Sellers'
Subject: RE: Domaine
Did you get the pix from your birthday?
-----Original Message-----
From: Cameron Sellers [mailto:[email protected]]
Sent: Monday, June 11, 2001 11:06 AM
To: 'Nancy Sellers'
Subject: RE: Domaine
I'll get a case. Thanks!
Cameron Sellers
Vice President, Business Development
PERFECT
1860 Embarcadero Road - Suite 210
Palo Alto, CA 94303
[email protected]
650.798.3366 (direct dial)
650.269.3366 (cell)
650.858.1095 (fax)
-----Original Message-----
From: Nancy Sellers [mailto:[email protected]]
Sent: Monday, June 04, 2001 3:23 PM
To: 'DAVE BAILEY'; Marta Rich; Cindy Milani; James Cravy; Tim McDaniel;
Kevin Zeigler; Debi Best; 'Eldon Sellers'; Barrie Eddy; Carol
Frommelt;
Cindy Nagy; Karen O'Neill; Kathy Allen; Linda Rominger; Nancy
Sellers; Peggy
Hammett; Sarah deSilva; Tersilla; Cameron; Jeff Dasovich; Prentice @
Berkeley; Prentice Sellers; Scott Laughlin
Subject: Domaine
I am going to order some more Domaine on June 25. If you want any more,
please put a check in the mail to me for $64.50 a case so that I receive it
by June 25. I am only going to order whole cases this time. Depending on
the number of cases, delivery will probably be on June 28. Thanks.
Nancy
(707) 251-4870 (phone)
(707) 265-5446 (fax)
"Plus je bois, mieux je chante" | {
"pile_set_name": "Enron Emails"
} |
New login for www.friedwire.com is:
login: enron04
password: enron | {
"pile_set_name": "Enron Emails"
} |
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