text
stringlengths 1
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Per Lisa's request please find a revised notice:
Kay | {
"pile_set_name": "Enron Emails"
} |
Yes.
-----Original Message-----
From: Thompson, Debra
Sent: Monday, October 15, 2001 2:30 PM
To: Allen, Kelly; Culwell, Christi; Kilmer III, Robert; Lichtenwalter, Blair; Lokey, Teb; Paschal, Zelda; Veatch, Stephen
Subject: Re: Invitation to Jennifer Lev's Baby Shower
Would you let me know if you are interested in contributing toward a group gift. If so, I would be willing to try to coordinate that effort.
-----Original Message-----
From: Williams, Amelia
Sent: Monday, October 15, 2001 1:47 PM
To: Allen, Kelly; Attasseril , Finney; Baker, Henry; Baker, Lee; Barnes, Caroline; Bayley, Bruce; Brabham, Miriam; Brasher, Barney; Carpenter, Nancy; Cernoch, Leon; Concklin, Elaine; Culwell, Christi; Fletcher, Frankie; Geheb, Robert; Goradia, Pallavi; Hernandez, Dahlia; Hsieh, Sally; Jameson, Betty; Jones, Vera; Keiser, John; Kilmer III, Robert; Lichtenwalter, Blair; Lokey, Teb; Loyd Jr., Talbert; Navarro, Silvia; Northcutt, Judy; Palma, Larry; Paschal, Zelda; Patel, Sophie; Perales, Maria; Prendergast, Pat; Richard, Teronna; Rosen, Mylinda; Rosenberg, David E.; Schroeder, Maggie; Smilenova, Rositza; Thompson, Debra; Tu, Denis; Veatch, Stephen; Adame, Robert; Avila, Rafael; Bayles, Timothy; Bickerstaff, Rene; Bragg, Kimberly; Carethers, Ann; Carriere, Frank; Chandler, Bob; Cisneros, Maria; Clennon, Dawn; Cobb Jr., John; Daniels, Diane; Davis, Kasey; Dimacali, Aurora; Elizondo, Rudolph; Escamilla, Linda; Fancler, Dan; Gonzalez, Maria Y.; Hubbard, Mary; Ivey, Hoyt; Joe, Allen; Jolibois, Anne; Kafarela, Zandra; Kennell, Amanda; Lev, Jennifer; Lin, Judy; Lyman, Jane; McEllin, David; Meerbott, Trey; Miller, Robert; Moseley, Debbie; Patterson, Sonya; Pham, Daniel ; Pittman, Julia; Porter, Theresa; Rainbow, Traci E.; Santellan, Dan; Saunders, James; Shupe, Jacob; Studzinski, Betty; Sutton, Lisa; Villela, Joe; Walters Jr., Harry; Walton, Mark; Youngson, Karen; Zahn, Gary
Subject: Invitation to Jennifer Lev's Baby Shower
Please see the attached (hit F5 for a show) invitation for Jennifer Lev's Baby Show to be held Wednesday, October 24, 2001 at 2:30 p.m.
Please let me know if you are planning to attend by Monday, October 22, 2001.
<< File: Jennifer Shower Registered.ppt >>
If you have any questions, please contact one of the 'Shower Coordinators':
Kim Bragg, 3.7063
Linda Escamilla, 3.3809
Traci Rainbow, 3.7720
Amelia Williams, 3.6857
Thank you, Amelia...
Amelia L.H. Williams
Enron Transportation Services
713-853-6857, 3AC3379
[email protected] | {
"pile_set_name": "Enron Emails"
} |
Can you help us with determining a location code for the 20" Gomez Lateral on TW's books? Would these facilities be included in one of the locations listed below? By description and quantity we are unable to confirm.
Kevin is attempting to meet with cusotmers tomorrow.
Thanks for you help.
-----Original Message-----
From: Hubbard, Mary
Sent: Wednesday, February 20, 2002 11:03 AM
To: Carriere, Frank
Subject: RE: Location Number
See attached requested data.
-----Original Message-----
From: Hyatt, Kevin
Sent: Tuesday, February 19, 2002 11:12 AM
To: Carriere, Frank; Hubbard, Mary
Subject: RE: Location Number
Importance: High
I found these numbers in a file, Loc Code 14039, 14225, 24008
I'm not sure what assets they are in reference to.
kh
-----Original Message-----
From: Carriere, Frank
Sent: Tuesday, February 19, 2002 8:03 AM
To: Hyatt, Kevin
Subject: FW: Location Number
FYI.
As I indicated in my phone message we are not finding these assets using the description provided. Judy Beck is or was the facilitiy
person for ETS. She is now Dynegy, therefore, we may get a referral instead of an answer.
-----Original Message-----
From: Hubbard, Mary
Sent: Friday, February 15, 2002 2:31 PM
To: Carriere, Frank
Subject: FW: Location Number
FYI
-----Original Message-----
From: Hubbard, Mary
Sent: Friday, February 15, 2002 1:02 PM
To: '[email protected]'
Subject: Location Number
Judy,
I need to provide a NBV for a Gomez Laterial (35miles of 20" pipe), to Kevin Hyatt. Frank says it should be in company 0060 (TW).
I ran the following locations numbers: 44*094, 44*095, 44*149 44*34037, but found nothing in co. 0060. Can you help?
Thanks,
Mary
I | {
"pile_set_name": "Enron Emails"
} |
Lee Huber
03/06/2001 03:34 PM
To: Drew Fossum/ET&S/Enron@ENRON
cc: Tony Pryor/ET&S/Enron@ENRON, Dari Dornan/ET&S/Enron@ENRON, Susan
Scott/enron@enronXgate, Jim Talcott/Enron@EnronXGate, Kathy
Ringblom/Enron@enronxgate@Enron, Maria Pavlou/Enron@EnronXGate
Subject: Re: Staff Meeting
SO SORRY!! Kim Wilkie and I are trying to figure out this MOPS mess before
she leaves for the birth which is soon!! We were able to get ahold of Mike
Moran and he was able to give us invaluable assistance and the time just got
away. Tony and I will get with Susan for a summary.
If we do that, does it still go on our "permanent record"? | {
"pile_set_name": "Enron Emails"
} |
Daniel: With respect to the Terms of Business Letter, please email a copy of the proposed side letter (to handle arbitration and limitation of liability). I just want to review the "final product". We have all other documents ready for immediate execution. Sorry for the delay and I appreciate your patience. Regards.
Sara Shackleton
Enron Wholesale Services
1400 Smith Street, EB3801a
Houston, TX 77002
Ph: (713) 853-5620
Fax: (713) 646-3490
-----Original Message-----
From: "Harris, Daniel" <[email protected]>@ENRON [mailto:IMCEANOTES-+22Harris+2C+20Daniel+22+20+3CDaniel+2EHarris+40gs+2Ecom+3E+40ENRON@ENRON.com]
Sent: Thursday, September 20, 2001 3:44 AM
To: Shackleton, Sara
Cc: [email protected]; Heard, Marie; [email protected]; Glover, Sheila
Subject: RE: ECT Investments, Inc. account with Goldman Sachs International
Sara
Arbitration - we will agree to English courts as per the language amending
the osla. I will prepare an amendment side letter.
Limitation of Liability - this is our standard position. I propose the
language agreeed to by you for the PB agreement.
I trust this will now close the open issues.
I look forward to hearing from you
Kind regards
Daniel
-----Original Message-----
From: [email protected] [mailto:[email protected]]
Sent: 17 September 2001 23:51
To: [email protected]
Cc: [email protected]; [email protected]; [email protected];
[email protected]
Subject: RE: ECT Investments, Inc. account with Goldman Sachs
International
Daniel:
Thank you for your response. Unfortunately, the outstanding issues
relating to the Terms of Business Letter impact our corporate policy. If
you insist upon arbitration, it should be at either party's option and we
can agree to arbitrate in accordance with the International Chamber of
Commerce Rules. Also, as you mentioned below, there may be non-prime
brokerage issues that relate to the terms of business and, therefore, are
not adequately addressed in the terms of business letter. We do have other
business relationships with GSI and again request inclusion of limitation
of liability language in the terms of business letter. I propose:
"Neither party shall have any liability arising from this Letter or from
any obligations which relate to this Letter for any indirect, special,
punitive, exemplary, incidental or consequential loss or damage."
Please reconsider the foregoing with explanation. I will be out of the
office 9/18/01 in the a.m.
All remaining documents have been completed and we will have them executed
together with the terms of business letter.
Regards. Sara
Sara Shackleton
Enron Wholesale Services
1400 Smith Street, EB3801a
Houston, TX 77002
Ph: (713) 853-5620
Fax: (713) 646-3490
-----Original Message-----
From: "Harris, Daniel" <[email protected]>@ENRON
[mailto:IMCEANOTES-+22Harris+2C+20Daniel+22+20+3CDaniel+2EHarris+40gs+2Ecom+
[email protected]]
Sent: Tuesday, September 11, 2001 3:15 AM
To: Shackleton, Sara
Subject: RE: ECT Investments, Inc. account with Goldman Sachs
International
Sara
The terms of business are GSI's general terms and span your relationship
with GSI generally. There may be non-prime brokerage issues that relate
to
the terms of business. Not everything in the TOBs intersects with the PB
relationship, certainly if you do other business with GSI.
Re the liability provision, I think your concerns are adequately
addressed
in the documentation as drafted.
I would be grateful if you would come back to me as soon as possible so
we
can try to get this wrapped up today.
Kind regards
Daniel
-----Original Message-----
From: [email protected] [mailto:[email protected]]
Sent: 10 September 2001 21:02
To: [email protected]
Subject: RE: ECT Investments, Inc. account with Goldman Sachs
International
Daniel:
Thanks for the message. It seems to me that the terms of the PB
conflict
because J14 conflicts with A3, that is, (i) J14 conflicts with Par.8
requiring the conclusion that English courts will not apply to the Terms
of
Business agreement and (ii) A3 requires that English courts prevail.
Are
you agreeing with this analysis?
Also, there is nothing in the Terms of Business agreement to conflict
with
the limitation of liability language of the PB applicable to the PB
(except
for silence on the matter). You didn't address this point. It is Enron
Corp. policy to include such language and I would like to limit the
Terms
of Business in the same manner.
Can you call me at 9 am Houston time on Tuesday, Sept. 11? or suggest a
different time? I am not trying to belabor execution of the the
remaining
documents.
Thanks.
Sara Shackleton
Enron Wholesale Services
1400 Smith Street, EB3801a
Houston, TX 77002
Ph: (713) 853-5620
Fax: (713) 646-3490
-----Original Message-----
From: "Harris, Daniel" <[email protected]>@ENRON
[mailto:IMCEANOTES-+22Harris+2C+20Daniel+22+20+3CDaniel+2EHarris+40gs+2Ecom+
[email protected]]
Sent: Monday, September 10, 2001 1:23 AM
To: Shackleton, Sara
Cc: [email protected]; Heard, Marie
Subject: RE: ECT Investments, Inc. account with Goldman Sachs
International
Sara
Actually, I believe we resolved these when we spoke. Arbitration -
more
appropriate to general terms of business which principally
contemplate
the
regulatory rules to which we are subject (SFA rules). In the event of
inconsistency, the terms of the PB agreement govern (clause A3).
I also amended the OSLA by side letter, which I sent over.
Kind regards
Daniel
-----Original Message-----
From: Shackleton, Sara [mailto:[email protected]]
Sent: 07 September 2001 20:45
To: [email protected]
Cc: [email protected]; Heard, Marie
Subject: ECT Investments, Inc. account with Goldman Sachs
International
Daniel:
Thanks for finalizing the Prime Brokerage Agreement (the "Agreement")
with my colleague Angela Davis.
I have two points with respect to the Terms of Business Letter
relating
to the changes made to the Agreement which I believe we discussed but
were not in a position to resolve at the time. These are:
(1) Par. 8 Arbitration (which should conform to Clause J, Par. 14 of
the Agreement). I recall that we were discussing the possible use of
arbitration in the Agreement (and existence of arbitration in the
OSLA)
so that we would not need to amend this particular paragraph of the
Terms of Business Letter. Since we ultimately agreed to English
courts,
I think we need to conform the Terms of Business Letter which will
prevail if in conflict with the Agreement.
(2) Par. 8 Arbitration (which should be limited in the same manner
as
Clause J, Par. 11 as to limitation of liability). I believe that you
and Angela agreed to the revisions in the Agreement. Why shouldn't
these be mirrored in the Terms of Business Letter?
I look forward to hearing from you and completing the rest of the
account documentation. Regards.
Sara Shackleton
Enron Wholesale Services
1400 Smith Street, EB3801a
Houston, TX 77002
Ph: (713) 853-5620
Fax: (713) 646-3490
**********************************************************************
This e-mail is the property of Enron Corp. and/or its relevant
affiliate
and
may contain confidential and privileged material for the sole use of
the
intended recipient (s). Any review, use, distribution or disclosure
by
others is strictly prohibited. If you are not the intended recipient
(or
authorized to receive for the recipient), please contact the sender
or
reply
to Enron Corp. at [email protected] and delete
all
copies of the message. This e-mail (and any attachments hereto) are
not
intended to be an offer (or an acceptance) and do not create or
evidence
a
binding and enforceable contract between Enron Corp. (or any of its
affiliates) and the intended recipient or any other party, and may
not
be
relied on by anyone as the basis of a contract by estoppel or
otherwise.
Thank you.
********************************************************************** | {
"pile_set_name": "Enron Emails"
} |
Executive Committee Weekly Meeting
Date: Monday, June 4, 2001
Time: 11:00 a.m. (CDT)
Location: 50th Floor Boardroom
Video: Connections will be established with remote locations upon request.
Conf. Call: AT&T lines have been reserved. Please contact Sherri Sera (713/853-5984) or
Suzanne Danz (713/853-6440) for the weekly dial-in number and passcode.
Please indicate below whether or not you plan to attend this meeting and through what medium.
Yes, I will attend in person ______
By video conference from ______
By conference call ______
No, I will not attend ______
Please return this e-mail to me with your response by 12:00 p.m., Friday, June 1.
Thank you,
Suzanne | {
"pile_set_name": "Enron Emails"
} |
Tana,
I know you don't want me to be a "bottle neck" when new users need access to
the system, so I put the following together to show how to create an SRRS
request.
Take a look at the following groups in the Notes Name & Address book that
have been set up specifically for your Financial Trading Agreements
database. This should help you to figure out the group(s) to which the
persons listed in your email should belong:
group 1 --> Admin/Editor Access (people like you)
group 3--> Author/Editor Access (general users)
group 2--> Reader Access* (readers with all view/comments access)
*Default (open access) is restricted to Reader to only the one (1)
un-secure/no comments view we set up.
Security Resource Request System (SRRS) link to SRRS -->
...then take a look at the following example of a request for access that I
submitted; you can use this as an example:
I hope this helps, call me if you have any questions and we can discuss.
Mike 3-3363
From: Tana Jones on 05/17/2000 08:58 AM
To: Michael Neves/HOU/ECT@ECT
cc:
Subject: Re: New Master Swaps Agreements Database
can you give these three people in London Legal access to the Master Swap
Agreement Database. Thanks.
----- Forwarded by Tana Jones/HOU/ECT on 05/17/2000 08:58 AM -----
Sandra Freeman
05/17/2000 04:52 AM
To: Tana Jones/HOU/ECT@ECT
cc:
Subject: Re: New Master Swaps Agreements Database
Both Legal.
Rgds,
Sandra.
From: Tana Jones on 16/05/2000 13:08 CDT
To: Sandra Freeman/LON/ECT@ECT
cc:
Subject: Re: New Master Swaps Agreements Database
Are Micheal Khajeh-Hoori and Deepak Sitlani in Credit? I know Michael Schuh
is in Legal.
Sandra Freeman
05/16/2000 11:37 AM
To: Tana Jones/HOU/ECT@ECT
cc:
Subject: New Master Swaps Agreements Database
Tana,
I have had a request from Michael Khajeh-Noori, Deepak Sitlani (London) and
Michael Schuh (Frankfurt) to access to the NEW Master Swap Agreements
database, can you please confirm if they are allowed to access this database,
and if so what level of access they should have.
Thanks & Regards
Sandra Freeman
European Notes Administration | {
"pile_set_name": "Enron Emails"
} |
The report named: West NG Prices - Basis <http://trv.corp.enron.com/linkFromExcel.asp?report_cd=45&report_name=West+NG+Prices+-+Basis&category_cd=2&category_name=WEST&toc_hide=1&sTV1=2&TV1Exp=Y¤t_efct_date=11/27/2001>, published as of 11/27/2001 is now available for viewing on the website. | {
"pile_set_name": "Enron Emails"
} |
see attached
Alfred Pennisi
Enron Trading Services Inc
520 Madison Avenue
28th Floor
New York, NY 10022
Tel: 212.715.5845
E-mail: [email protected] | {
"pile_set_name": "Enron Emails"
} |
I have responded back to Barbara and am sending her some written material.
Thank you.
Vince J Kaminski
10/12/2000 10:50 AM
To: Mike A Roberts/HOU/ECT@ECT, Joseph Hrgovcic/HOU/ECT@ECT
cc: Mark Tawney/HOU/ECT@ECT, Vince J Kaminski/HOU/ECT@ECT
Subject: Report Research
Joe, Mike,
Please check with PR first if we want too talk to her
and run it by Mark. I think it is in our interest to be
quotes extensively in the press.
Vince
---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 10/12/2000
10:53 AM ---------------------------
[email protected] on 10/11/2000 10:54:39 AM
Please respond to [email protected]
To: [email protected]
cc:
Subject: Report Research
I am writing a management report on weather risk management. The story
will discuss different weather risk management tools used by power
marketers in the energy industry. It also looks at weather prediction
and analysis services available to energy traders.
I am looking for a list and description of the weather risk management
products, and how each can benefit an energy trader. I would also like
to know what traders' reactions to significant weather are. And where
can I find a list of popular weather instruments with descriptions?
I appreciate any help you can give me. I would like to set up a chat
with you this week if you have the time, or simply email me your input.
Thanks in advance!
Barbara Drazga
Independent Journalist
PO Box 472401
Aurora, CO 80047
303-369-3533 tel.
303-369-3510 fax | {
"pile_set_name": "Enron Emails"
} |
Here is the 2 on 1 configuration for the GE 7FA turbines. I will put
together pro-forma model based on this configuration.
Ben | {
"pile_set_name": "Enron Emails"
} |
she still works here. she is probably on vacation or something. i am sure
she will get right back to daddy when she gets in town. she sounds hot. | {
"pile_set_name": "Enron Emails"
} |
I'll forward to Kean for his use. Thanks.
-----Original Message-----
From: Shortridge, Pat
Sent: Monday, October 29, 2001 8:15 AM
To: Shapiro, Richard
Cc: Robertson, Linda
Subject: Friday's call
On Friday's call, one thing in particular troubled me that I wanted to mention privately. You said, I believe, that senior management doesn't see a role for government affairs in the SEC/partnership issue. I think that's a fundamental error.
I know I haven't been here as long as others, but after five months one things is crystal clear to me: There are people out there who really hate us, commercial competitors, politicians, interest group types, etc. I fully anticipate they will use recent events as a way to try and do us further harm in the political, regulatory, public perception arenas.
I would hate for our senior management to think that this will play out in a nice orderly legal proceeding where everything is dealt with in terms of facts and reason and law. I believe this episode will play out more along the lines of CA, though on a smaller scale, where demagogues use this for their own advantages.
I believe gov't affairs needs to play an important role sooner rather than later. | {
"pile_set_name": "Enron Emails"
} |
Regulatory affairs department is updating the INGAA database and are
requesting the following information from you.
1.??? Job Title
2.??? Company
3.???? Address
4.???? Phone
5.???? Fax??
If you could return this information A.S.A.P. it would be greatly
appreciated.
Enjoy your day.
Melody | {
"pile_set_name": "Enron Emails"
} |
Attached is the file to be used for demand invoice verification for December 2001 capacity release transactions. If you have any questions, please feel free to contact me.
Thanks,
Elizabeth | {
"pile_set_name": "Enron Emails"
} |
still waiting on these 2 deals.
Kerri Thompson
11/16/2000 04:10 PM
To: Kate Symes/PDX/ECT@ECT
cc:
Subject: apb checkout
missing deals
jeff r
selling williams
20-30th
25 mw
sp15
115.00
on peak
jeff r
buying ees
20-30th
25 mw
sp15
114.95
on peak
tom a
buying koch
20-30
25 mw
114.00
palo
on peak | {
"pile_set_name": "Enron Emails"
} |
Let me know of any changes, this would be your trip with John
-----Original Message-----
From: Anabel Soria <[email protected]>@ENRON
Sent: Thursday, October 18, 2001 4:24 PM
To: Garcia, Ava
Subject: REVIEW AND APPROVE GRACE LYNN BLAIR TRAVEL FOR 29OCT01
AGENT AM/AM BOOKING REF YPRGXO
BLAIR/GRACE LYNN
EB 4266
ENRON CORP
DATE: OCT 18 2001
SERVICE DATE FROM TO DEPART ARRIVE
CONTINENTAL AIRLINES 29OCT HOUSTON TX OMAHA NE 932A 1150A
CO 3767 K MON G.BUSH INTERCO EPPLEY AIRFIEL
TERMINAL B
SNACK NON STOP
RESERVATION CONFIRMED 2:18 DURATION
FLIGHT OPERATED BY EXPRESSJET AIRLINES IN
AIRCRAFT: EMBRAER RJ135/140/145
SEAT 06A NO SMOKING CONFIRMED BLAIR/GRACE
LYN
CONTINENTAL AIRLINES 29OCT OMAHA NE HOUSTON TX 633P 855P
CO 4277 K MON EPPLEY AIRFIEL G.BUSH INTERCO
TERMINAL B
SNACK NON STOP
RESERVATION CONFIRMED 2:22 DURATION
FLIGHT OPERATED BY EXPRESSJET AIRLINES IN
AIRCRAFT: EMBRAER RJ135/140/145
SEAT 06A NO SMOKING CONFIRMED BLAIR/GRACE
LYN
RESERVATION NUMBER(S) CO/UDHQG3
BLAIR/GRACE LYNN S1C0179R1113
CO FREQUENT FLYER COGH928041
ASSISTANT: AVA GARCIA 713 853-5842
*******************************************
INTL TVLRS: CARRY SOS WALLET CARD W/ENRON ASSISTANCE INFO
CALL SOS MEDICAL EMERGENCY:IN U.S 800 523-6586
CALL SOS MEDICAL EMERGENCY:INTL 215 245-4707 (COLLECT)
*********************************************
LL FARES ARE SUBJECT TO CHANGE UNTIL TICKETED/PURCHASED
Anabel Soria
713-860-1147
713-860-1847-fax
[email protected]
**********************************************************************
This e-mail is the property of Enron Corp. and/or its relevant affiliate and
may contain confidential and privileged material for the sole use of the
intended recipient (s). Any review, use, distribution or disclosure by
others is strictly prohibited. If you are not the intended recipient (or
authorized to receive for the recipient), please contact the sender or reply
to Enron Corp. at [email protected] and delete all
copies of the message. This e-mail (and any attachments hereto) are not
intended to be an offer (or an acceptance) and do not create or evidence a
binding and enforceable contract between Enron Corp. (or any of its
affiliates) and the intended recipient or any other party, and may not be
relied on by anyone as the basis of a contract by estoppel or otherwise.
Thank you.
********************************************************************** | {
"pile_set_name": "Enron Emails"
} |
Attached is an interesting letter from Edison to DWR asking a number of
questions concerning the relationship bvetween the utilities and the agency.
?
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]
- 7-26-01 Ltr to T Hannigan.doc | {
"pile_set_name": "Enron Emails"
} |
To clarify, consider contracts to which Enron Corp., Enron North America Corp. or their subsidiaries are parties that contain provisions concerning a change of ownership/control of Enron Corp. or Enron North America Corp. At this point, we are considering material contracts, or a group of similar or standard contracts that collectively are material, or contracts the breach of which could result in material liability.
Thanks, NJD
-----Original Message-----
From: Dobin, Nora
Sent: Friday, October 26, 2001 6:05 PM
To: Rogers, Rex; Eickenroht, Robert; Armogida, Jim; Abrams, Clement; Taylor, Mark E (Legal); Tweed, Sheila; George, Robert H.; Sager, Elizabeth; Gray, Barbara N.; Bushman, Teresa G.; Aronowitz, Alan; Keohane, Peter; Murray, Julia; Heinitz, Mary J.; Korkmas, Deb; Lyons, Dan; Hodge, Jeffrey T.
Cc: Haedicke, Mark E.; Schuler, Lance (Legal); Mintz, Jordan
Subject: Material Contract Review -- ASAP
We just have been asked to review on an expedited basis all material contracts of ENE and ENA for change-of-control type provisions. Please let us know what contracts or guidance you may have or know of; we need to begin reviewing/collecting information ASAP, i.e., this weekend. If you know of someone who should receive this e-mail but who has not, please forward. You may contact me at any of the below numbers.
Thanks for your help.
Regards, NJD
Nora J. Dobin
Senior Counsel
Enron Corp. - Global Finance
1400 Smith Street, Suite 2083
Houston, Texas 77002
Phone: 713/345-7723
Fax: 713/853-9252
Home: 713/864-1175 | {
"pile_set_name": "Enron Emails"
} |
FYI:
I'm scheduled to meet with CMA and the Chamber on Monday to discuss the
comprehensive solution and urge them to support it.
Best,
Jeff | {
"pile_set_name": "Enron Emails"
} |
THANKS | {
"pile_set_name": "Enron Emails"
} |
Bridgeline Deal contacts:
Tommy Yanowski
Brian Redmond
Hal Bertram
Dave Banks (AEP IT)
Randy Curry (BridgelinPresident) x55806
Hugh Connett (Bridgeline) x5580? (3AC)
Robert Morgan (Bridgeline Operations VP) x56374 (3AC)
HPL/AEP Deal contacts:
Tommy Yanowski
Brian Redmond
Patrick Wade
Dave Banks (AEP IT VP) 614-324-5063
Canada SUNCOR and PETROCANADA deals:
Peggy Hedstrom
Laura Scott
John Lavorato
and there's another guy who was the originator - Peggy Hedstrom should know
who it is
Tommy knows you will be calling. What is your approach for contacting and
gathering information? I was just thinking maybe we should contact to let
them know what we're doing if that makes things easier for your contact.
What do you think? | {
"pile_set_name": "Enron Emails"
} |
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Published: Thursday, August 23, 2001 <http://forums.heraldnet.com/index.cfm?Forum=3&headline=Police%20follow%20naked%20man%20to%20pot%20crop%20&TopicURL=http%3A%2F%2Fwww%2Eheraldnet%2Ecom%2FStories%2F01%2F8%2F23%2F14257484%2Ecfm>
@@@@
Police follow naked man to pot crop
<http://www.heraldnet.com/graphics/spacer.gif>
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By Brian Kelly
Herald Writer
CAMANO ISLAND -- A naked man found wandering around Stanwood Cinemas led police to his indoor marijuana garden after deputies asked the man what he did for a living, police said Wednesday.
Deputies from the Island County Sheriff's Office said they removed more than 80 marijuana plants -- including 50 or so mature plants -- from a shed behind the 30-year-old man's home on Maple Tree Lane, a dead-end road on the south end of the island.
The strange saga began Saturday night when moviegoers and diners in restaurants near the theater's courtyard reported seeing a naked man walking around the complex in full view of families dining out.
When an officer approached the man and asked why he was walking around naked, the man reportedly said that he felt like it so he just did it. An officer writing the man a ticket for indecent exposure then asked the man what he did for a living, and he allegedly said he grew marijuana.
According to a police report, the man then asked for the officer's help in harvesting the crop. The officer said he was too lazy to help but offered to go look at the man's operation, and the naked man agreed.
In the outbuilding behind the man's mobile home, police found what they described as a "sophisticated hydroponic grow operation."
Deputies allegedly found numerous grow lights on timers, fans and a complicated watering system with a line running to each of the plants.
Police said the man seemed proud of his operation, telling them that the system used no dirt, just lava rock, and he picked a large bud from a plant and handed it to an officer.
In a written statement to police, the man allegedly said: "I grow marijuana for fun and profit, to support myself and my family, to help bring us a better life." He also said he was growing marijuana for his father, who had a disease, and for other "medically ill people."
The man's wife told police she had never been inside her husband's shed, but that was where her husband did his artwork and practiced with his yo-yo.
Deputies said they asked the man what he expected them to do after he showed them his garden, and the man said he didn't expect them to do anything.
Police, however, confiscated the plants and growing equipment. The man was cooperative, they said, even helping to load the equipment into police vehicles.
The man may be charged with manufacture of a controlled substance, but he is not named because charges have not been filed.
You can call Herald Writer Brian Kelly at 425-339-3422 or send e-mail to [email protected] <mailto:[email protected]>.
@3@3
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<http://www.heraldnet.com/graphics/redspacer.gif> <http://www.heraldnet.com/graphics/spacer.gif> August 23, 2001
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Tropical Storm Dean surprises forecasters as it gains strength <http://www.heraldnet.com/../Stories/01/8/23/14259277.cfm>
Seven Palestinians are killed despite Mideast truce talks <http://www.heraldnet.com/../Stories/01/8/23/14257454.cfm>
Local News <http://www.heraldnet.com/../localnews>
Rain double-jams traffic <http://www.heraldnet.com/../Stories/01/8/23/14258622.cfm>
Rain hampers Steamboat Slough bridge work <http://www.heraldnet.com/../Stories/01/8/23/14248936.cfm>
Better than 110 degrees <http://www.heraldnet.com/../Stories/01/8/23/14257375.cfm>
Police follow naked man to pot crop <http://www.heraldnet.com/../Stories/01/8/23/14257484.cfm>
Death penalty decision delayed <http://www.heraldnet.com/../Stories/01/8/23/14258553.cfm>
Monroe struggles with community center site <http://www.heraldnet.com/../Stories/01/8/23/14251322.cfm>
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Copyright <http://www.heraldnet.com/about/legal/> ? 2001 The Daily Herald Co., Everett, Wash. If you have questions or comments, please contact us <http://www.heraldnet.com/about/contact/>. | {
"pile_set_name": "Enron Emails"
} |
I will be in the office around 10:30 AM on Tuesday, April 3. Should you need
immediate assistance in my absence, please contact Taffy Milligan at x57373.
Thanks!
Holly Keiser
Enron Americas
Legal Department - EB 3887
713-345-7893 (ph)
713-646-3490 (fx)
[email protected] | {
"pile_set_name": "Enron Emails"
} |
no order there. we will probably head over there around 9.30 | {
"pile_set_name": "Enron Emails"
} |
-----Original Message-----
From: Beltran, Erica
Sent: Tuesday, November 13, 2001 3:31 PM
To: Rodriguez, Lupe; Richard, Shonda; Calvin, Juantongia; Arriaga, Alex; Nieto, Jose; Rivera, Victoria; Reynolds, Tiko
Subject: FW: Subject: Quote for today
-----Original Message-----
From: Holloway, JoAnn
Sent: Tuesday, November 13, 2001 2:55 PM
To: Bernal, Carmen; Beltran, Erica; Franco, Julie; Clark, Sarah; Houser, Rick; Mottu, Norma; Sanchez, Pat
Subject: FW: Subject: Quote for today
-----Original Message-----
From: "Dawson, Gloria - PD - CE" <[email protected]>@ENRON
Sent: Tuesday, November 13, 2001 12:59 PM
To: Buckner, Josey - PD - CE; Williams, Stephanie - PWE; Ozan, Monya - PD - CE; Washington, Elzina - PD - CE; SHEILA BLAKE (E-mail); Conner, Rhonda - PWE; JOANN HOLLOAY (E-mail)
Subject: FW: Subject: Quote for today
-----Original Message-----
From: Stephens, Pamela A [mailto:[email protected]]
Sent: Tuesday, November 13, 2001 10:02 AM
To: 'honey'; Dawson, Gloria - PD - CE; Chambers, Betty A; Hudgen, Netha
L; 'Patrick'; Chandler-Hollins, Teresa S; 'heaven'
Subject: FW: Subject: Quote for today
-----Original Message-----
From: Arnold, Michelle R
Sent: Tuesday, November 13, 2001 11:49 AM
To: Hutching, Dee; Stephens, Pamela A; Jones, Susan E; Williams, Jerral
T; Williams, Jessie; Greene, Vera J; Bates, Toysha
Cc: '[email protected]'
Subject: FW: Subject: Quote for today
Have a Blessed Day!
Subject: Subject: Quote for today
When Satan is knocking at your door, simply say, "Jesus, could you please
get that for me?" Pass this message to 7 people except me. You will receive
a miracle tomorrow. Don't ignore and God will bless you. Stay encouraged. | {
"pile_set_name": "Enron Emails"
} |
-----Original Message-----
From: "[email protected]" <[email protected]>@ENRON
Sent: Friday, November 02, 2001 2:37 PM
To: undisclosed-recipients:;@ENRON
Subject: November 2001 CGPR
NGX Index Analysis will follow shortly.
- cgprNov01.pdf | {
"pile_set_name": "Enron Emails"
} |
Hi
I guess this is a case of be careful of what you ask for! Since you
helped me last week delete all products except physical gas from the All
Products
section of stack manager , I can no longer select a financial swap product
as a link to my physical products. For example, I would like to link my
HEHUB physical
rest of month product to the gas daily HEHUB swap product. Can you help me
once again or refer me to someone who can? Sorry, I did not realize these
options were connected.
Thanks in advance for your help! | {
"pile_set_name": "Enron Emails"
} |
FYI: I thought SEC's views on the MidAmerican PUHCA language would interest
you. At this point, this appears dead....but we are still working it to keep
it that way.
FROM: SEC: Attached is our staff analysis on Senator Kerrey's proposed
PUCHA
legislation that you requested. Please let me know if you need
anything
else or would like to discuss further.
Casey
- legism~1.doc
- shortm~1.doc | {
"pile_set_name": "Enron Emails"
} |
Here are the stray facts I mentioned:
Sulfur River system: 1200 miles of gathering in East Texas and some treating/processing
approx. 170 mmcf/d of throughput currently; significant growth expected from new drilling [?]
EBITDA: $40mm/yr
Rex Kouri (sp?) is the founding equity in Sulfur River (I haven't heard of him, but they acted like I should have)
An outfit named "Energy Spectrum" put $30 mm in equity into Sulfur River a few years ago and thinks now would be a good time to cash out
$90 mm in debt
$1/mmbtu gath/proc. margins
The guys I talked to said the Sulfur River assets, coupled with the Koch upstream assets in the area, would make an interesting combined play.
Koch was asking $200 mil. for their gathering assets a year ago or so--I don't know if its the exact set of assets that Pat and Jerry were suggesting we'd want to include in the package.
The two guys involved are Pat Keeley, of Friedman Billings and Ramsay in DC and Jerry Langdon (the ex-FERC Commissioner), who is an investor/dealmaker. Let me know if you want me to get these guys to come in and pitch this deal to you/your team. Reminder--Langdon is talking to Stan on the 10th on EOTT and he may bug Stan about this stuff, so it may be good to get to Stan first. DF | {
"pile_set_name": "Enron Emails"
} |
Start Date: 3/2/01; HourAhead hour: 24; No ancillary schedules awarded.
Variances detected.
Variances detected in Generation schedule.
LOG MESSAGES:
PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001030224.txt
---- Generation Schedule ----
$$$ Variance found in table tblGEN_SCHEDULE.
Details: (Hour: 24 / Preferred: 20.00 / Final: 19.88)
TRANS_TYPE: FINAL
SC_ID: TOSCO
MKT_TYPE: 2
TRANS_DATE: 3/2/01
UNIT_ID: UNCHEM_1_UNIT
$$$ Variance found in table tblGEN_SCHEDULE.
Details: (Hour: 24 / Preferred: 0.00 / Final: 1.18)
TRANS_TYPE: FINAL
SC_ID: EES
MKT_TYPE: 2
TRANS_DATE: 3/2/01
UNIT_ID: BADLND_7_PL1X2
$$$ Variance found in table tblGEN_SCHEDULE.
Details: (Hour: 24 / Preferred: 29.00 / Final: 27.91)
TRANS_TYPE: FINAL
SC_ID: ARCO
MKT_TYPE: 2
TRANS_DATE: 3/2/01
UNIT_ID: CARBGN_6_UNIT 1 | {
"pile_set_name": "Enron Emails"
} |
Tana, per my discussion with Paul Radous, I am
supposed to provide you with some information.
Counterparty has requested a Letter of Guarantee
from the parent company of ENA for pulp purchase.
Enclosed is the contract for this deal. If you have
questions, please cal me. Thank you. | {
"pile_set_name": "Enron Emails"
} |
The following expense report is ready for approval:
Employee Name: Sheila Tweed
Status last changed by: Automated Administrator
Expense Report Name: 5/30/01
Report Total: $2,535.74
Amount Due Employee: $2,535.74
To approve this expense report, click on the following link for Concur
Expense.
http://xms.enron.com | {
"pile_set_name": "Enron Emails"
} |
Susan: will you please handle. Thanks. Sara
----- Forwarded by Sara Shackleton/HOU/ECT on 06/16/2000 08:03 AM -----
Michael Khajeh-Noori
06/16/2000 05:37 AM
To: Sara Shackleton/HOU/ECT@ECT, Susan Flynn/HOU/ECT@ECT, Susan
Bailey/HOU/ECT@ECT
cc: Edmund Cooper/LON/ECT@ECT, David Hardy/LON/ECT@ECT, Lee
Munden/LON/ECT@ECT, Christopher Shapland/LON/ECT@ECT, Paul
Radous/Corp/Enron@ENRON
Subject: Re: Duke Energy Trading and Marketing L.L.C.
Any progress with this?
Thanks
Michael
Michael Khajeh-Noori
06/09/2000 07:28 PM
To: Sara Shackleton/HOU/ECT@ECT, Susan Flynn/HOU/ECT@ECT, Susan
Bailey/HOU/ECT@ECT
cc: Edmund Cooper/LON/ECT@ECT, David Hardy/LON/ECT@ECT, Lee
Munden/LON/ECT@ECT, Christopher Shapland/LON/ECT@ECT
Subject: Duke Energy Trading and Marketing L.L.C.
We have just completed a nightmare negotiation involving a confirmation with
this counterparty and propose entering into an English law ISDA Master with
them to avoid future problems. I understand that one is already in existence
between this c/p and ECT. I suggest that we could mirror this and send it to
the cp as a starter. If you think that this would be appropriate please
could you send me a copy of the Duke/ECT Schedule, CSA and any guaranties.
Have a great weekend.
Many thanks
Michael | {
"pile_set_name": "Enron Emails"
} |
Since Shari Stack left the group, Susan said that I should discuss this with
you
when you have an opportunity,
Thanks
David
---------------------- Forwarded by David P Dupre/HOU/ECT on 05/11/2000 11:36
AM ---------------------------
David P Dupre
05/01/2000 09:58 AM
To: Susan Flynn/HOU/ECT@ECT, Shari Stack/HOU/ECT@ECT
cc:
Subject: Re: Cargill
We would like to proceed with the closing of our trading account with Cargill.
I have checked with Matt Brown, book administrator for the Crude Oil account
as well
as Mark Fondren, his supervisor, for any outstanding issues with Cargill and
nothing has appeared to need discussion.
Please let me know if I may be of any assistance in this effort,
Thanks
David
---------------------- Forwarded by David P Dupre/HOU/ECT on 05/01/2000 09:54
AM ---------------------------
Bill White@ENRON
04/14/2000 03:12 PM
To: David P Dupre/HOU/ECT@ECT
cc:
Subject: Re: Cargill
Kill em.
David P Dupre@ECT
13/04/2000 19:25
To: Bill White/Corp/Enron@ENRON
cc:
Subject: Cargill
Thanks for the following email regarding our ability to remove Cargill in our
reporting
system and replace their name with another broker.
May we discuss the possibility of closing the account with Cargill?
They added approximately $20,000 to our margin account by mistake on April
7th.
They reversed this yesterday but didn't take out the entire amount, so it
appears to be
creating additional work for our margin accounting group. Gerri Gosnell in
our margin accounting
group may be contacted at 3-4898 if you need further information.
Please advise,
Thanks,
David
Bill White@ENRON
03/24/2000 03:01 PM
To: David P Dupre/HOU/ECT@ECT
cc:
Subject: Re: New account at Bank One
Delete Cargill.
David P Dupre@ECT
22/03/2000 21:22
To: Bill White/Corp/Enron@Enron
cc:
Subject: Re: New account at Bank One
We trade with hsbc,sakura, and carr for other commodities....so we can't
delete them.
With your permission, I'd like to delete Cargill for now as we need to add
Bank One
as well as a new broker which we will start doing lumber trades with called
'Paul Court'.
Thanks
David
---------------------- Forwarded by David P Dupre/HOU/ECT on 03/22/2000 03:19
PM ---------------------------
Bill White@ENRON
03/20/2000 04:09 PM
To: David P Dupre/HOU/ECT@ECT
cc: Matt A Brown/HOU/ECT@ECT
Subject: Re: New account at Bank One
You previously asked which clearing houses you could delete from our
"Exchange Furture Net Position Summary" sheet in order to insert new houses
(eg, Banc One). Feel free to delete Sakura Dellsher, Carr, and HSBC.
Bill--
David P Dupre@ECT
15/03/2000 13:45
To: Bill White/Corp/Enron@Enron
cc:
Subject: New account at Bank One
Hi,
We discussed closing the Cargill account yesterday possibly but you said that
you wanted to keep it for
additional trades. We will leave it open as long as you need it.
I talked to Bank One this morning and they said that initially only NG would
be traded; however,
if you want me to talk to them about rates for doing CL trades, I will.
Legal should have the paperwork
set up within the next 2 weeks.
My contact at Bank One is Linda Bergdahl, 312-408-8333.
Regards,
David | {
"pile_set_name": "Enron Emails"
} |
EFF_DT PORTFOLIO_ID DOWN95
1/5/01 MANAGEMENT-CRD 24,752.
1/5/01 MANAGEMENT-GAS 220,002.
1/5/01 MANAGEMENT-PWR 127,715.
1/5/01 AGG-MANAGEMENT 330,482. | {
"pile_set_name": "Enron Emails"
} |
Please call Debbie and ask her to fax you a copy of the executed guaranty.
--------------------------
Sent from my BlackBerry Wireless Handheld (www.BlackBerry.net) | {
"pile_set_name": "Enron Emails"
} |
Ms. Gonzalez,
For some strange reason I recieved your W2 in the mail yesterday.
I am located at 3148C or call me at 3x7277 and I wil arrange to get it to
you.
Peter Keavey | {
"pile_set_name": "Enron Emails"
} |
Effective today, October 16th, Cara Vaughan is assuming the responsibities for this point on a permanent basis. If you have any questions please call Cara @ 713-345-2871. I will be her backup for this point.
Dennis and Raetta, will you make the necessary name change in our systems to reflect this change?
Thanks,
Randy J. | {
"pile_set_name": "Enron Emails"
} |
I have decided to take another route with the ski trip. Instead of getting
more people to go, I am thinking that it should be just us two. Maybe we
get a nice one room cabin with a fireplace, a warm bear rug, some cocoa.
Maybe some wine and candles to create a mood. What do you think?
> -----Original Message-----
> From: [email protected] [SMTP:[email protected]]
> Sent: Wednesday, December 13, 2000 9:02 AM
> To: Lane Capron, AC BAISP
> Subject: RE: FW: Your March Vacation
>
>
> THanks for finally getting back to me. I was accepted into the program, so
> the interview
> is off.
>
> I firmly believe that the Broncos suck, but now I am forced to root for
> them to get lucky and win.
> Your Raiders should win the last 2 games, unless Gannon turns into Jay
> Fieldler and starts pissing
> away wins.
>
> I assume the ski trip is on.
>
> Jason | {
"pile_set_name": "Enron Emails"
} |
Hello Miss Cynthia, I am doing fine. Work has been really kicking my butt
lately. Lunch Tuesday works for me. I will give you a call on Monday to
confirm. Hope everything is going well with you also. Take care.
"Cynthia San Marco" <[email protected]>
06/23/2000 09:11 AM
To: [email protected]
cc:
Subject: Hi!
Hi Mr. Nemec, how are ya? Hope all is well. I am going through my
appointments and was going to see if you wanted to try and meet for lunch
one day next week. I can't go on Wednesday, but the rest of my week looks
pretty open. I want to try Hard Rock Cafe downtown beacuse I have trade
there and I have never tried it before. Besides, it is close to your office.
Call me or e-mail me if you want to try and get together next week. Talk to
you soon.
Cynthia | {
"pile_set_name": "Enron Emails"
} |
FYI. We are under the mandate...no more screw ups.
PL
---------------------- Forwarded by Phillip M Love/HOU/ECT on 02/07/2001
08:12 AM ---------------------------
Jeffrey C Gossett
02/07/2001 08:00 AM
To: Kam Keiser/HOU/ECT@ECT, Darron C Giron/HOU/ECT@ECT, David
Baumbach/HOU/ECT@ECT, Errol McLaughlin/Corp/Enron@ENRON, Phillip M
Love/HOU/ECT@ECT
cc:
Subject: NEW COUNTERPARTY LIST
Make sure that everyone is using this.
Thanks
---------------------- Forwarded by Jeffrey C Gossett/HOU/ECT on 02/07/2001
07:56 AM ---------------------------
Enron North America Corp.
From: Bianca Ornelas @ ENRON 02/06/2001 03:45 PM
To: Anne Bike/Corp/Enron@Enron, Carole Frank/NA/Enron@ENRON, Jason
Wolfe/NA/Enron@ENRON, Denver Plachy/NA/Enron@Enron, Jody
Crook/Corp/Enron@ENRON, Patrick Ryder/NA/Enron@Enron, Kyle R
Lilly/HOU/ECT@ECT, Jeff Royed/Corp/Enron@ENRON, Victor
Guggenheim/HOU/ECT@ECT, Bruce Mills/Corp/Enron@ENRON, Andres
Balmaceda/NA/Enron@ENRON, Souad Mahmassani/Corp/Enron@ENRON, Sherry
Dawson/NA/Enron@Enron, Laura Vargas/Corp/Enron@ENRON, Amy
Cavazos/NA/Enron@ENRON, Luchas Johnson/NA/Enron@Enron, Liz
Hillman/Corp/Enron@Enron, Susan M Scott/HOU/ECT@ECT, Kimat Singla/HOU/ECT@ECT
cc: Larry Joe Hunter/HOU/ECT@ECT, Jeffrey C Gossett/HOU/ECT@ECT, Errol
McLaughlin/Corp/Enron@ENRON, Kam Keiser/HOU/ECT@ECT, Phillip M
Love/HOU/ECT@ECT, Darron C Giron/HOU/ECT@ECT, David Baumbach/HOU/ECT@ECT
Subject: NEW COUNTERPARTY LIST
Here is what you have all been waiting for the new and improved C/P list.
ENJOY! | {
"pile_set_name": "Enron Emails"
} |
http://sokolin.com/1998's.htm
1998 monbousquet | {
"pile_set_name": "Enron Emails"
} |
Will do. I drew heavily on your proposal for the agenda I sent around.
Rob
> -----Original Message-----
> From: [email protected] [SMTP:[email protected]]
> Sent: Wednesday, September 06, 2000 1:05 PM
> To: [email protected]
> Subject: Re: Any action on the streaming idea?
>
>
> floated idea. people like. but.....(hate to sound like a broken record)
> the whole ball of wax from Enron's view regarding sponsorship, streaming,
> etc., will depend on the agenda/participants).
>
> looking forward to the call. i'll only have 60 minutes max, however, so
> counting on you to facilitate forcefully. | {
"pile_set_name": "Enron Emails"
} |
Please see the attached e-mail,
Bill,
I thought it would be good to discuss this ISDA with legal as well, as Sara
has reviewed OUC's proposed draft and has many comments.
Thanks
---------------------- Forwarded by Russell Diamond/HOU/ECT on 11/28/2000
04:18 PM ---------------------------
Dorothy Youngblood
11/27/2000 04:12 PM
To: William S Bradford/HOU/ECT@ECT, Russell Diamond/HOU/ECT@ECT, George N
Gilbert/HOU/ECT@ECT, Fred Lagrasta/HOU/ECT@ECT
cc:
Subject: Re: OUC
This memo will confirm the above referenced meeting has been scheduled for
Thursday, November 30, 2000 at 2:30 p.m. in Bill's office. Per Mr. Gilbert,
the meeting will last for 30 minutes.
Thank you
Dorothy
3-6114
---------------------- Forwarded by Dorothy Youngblood/HOU/ECT on 11/27/2000
04:05 PM ---------------------------
From: William S Bradford on 11/22/2000 05:27 PM
To: George N Gilbert/HOU/ECT@ECT
cc: Russell Diamond/HOU/ECT@ECT, Fred Lagrasta/HOU/ECT@ECT, Dorothy
Youngblood/HOU/ECT@ECT
Subject: Re: OUC
Please set up a time with my assistant, Dorothy Youngblood.
Thanks,
Bill
From: George N Gilbert 11/21/2000 10:25 AM
To: William S Bradford/HOU/ECT@ECT
cc: Russell Diamond/HOU/ECT@ECT, Fred Lagrasta/HOU/ECT@ECT
Subject: OUC
Bill, could Fred and I have a meeting with yourself and Russell to discuss
credit provisions for Orlando Utilities Commission. We are trying to
finalize a master swap agreement. OUC wants 4 counterparties to hedge with
and they have requested Enron be one of them. We can go into particulars
when we meet.
Thank You for your time.
GNG | {
"pile_set_name": "Enron Emails"
} |
Let me know if you need anything else -
K. | {
"pile_set_name": "Enron Emails"
} |
Gerald,
Will you please make the pricing change when you are reviewing the confirm?
Thanks,
Judy
-----Original Message-----
From: Zivley, Jill T.
Sent: Thursday, July 05, 2001 10:44 AM
To: Thorne, Judy; Nemec, Gerald
Cc: Wallumrod, Ellen
Subject: RE: EEX Confirm
Judy, the confirm language looks good, but the price is wrong - should be Index less .0175 for the first 1700/d and Gas Daily flat for gas over that amount each month. We can put a MDQ if you want to...but the only way we would have more gas is if they add another well and we could reject it I think if we wanted to based on it not being w/in the dedication......Do you want to talk more about that? Thanks.
-----Original Message-----
From: Thorne, Judy
Sent: Thursday, July 05, 2001 9:22 AM
To: Nemec, Gerald
Cc: Zivley, Jill T.; Wallumrod, Ellen
Subject: RE: EEX Confirm
Importance: High
Gerald,
Please review the attached completed confirmation for EEX E&P and forward to Ellen Wallumrod to send to the customer if you approve. We need to get this to the customer today if at all possible.
Per Jill Zivley, there is not an MDQ, but she will work with the customer on a monthly basis for volumes above 1700. Please let me know if we need to adjust the confirm based on that information.
Thanks,
Judy Thorne
<< File: EEXEPconfirm.doc >> << File: enaupstreamGTC.doc >>
-----Original Message-----
From: Nemec, Gerald
Sent: Friday, June 29, 2001 4:12 PM
To: Thorne, Judy
Subject: EEX Confirm
Judy, Attached is the draft confirm for EEX. Can you fill in all the notice information for EEX. Also as we discussed, we also need to insert the well/field/lease data. Note that there is no MDQ. From the printout, it looked as though all volumes in excess of 1700 MMBtu per day were priced as gas daily. If there is an MDQ, we will need to insert it. Thanks.
<< File: EEXE&Pconfirm.doc >> << File: enaupstreamGTC.doc >> | {
"pile_set_name": "Enron Emails"
} |
Today's team leader meeting, Nov. 27th will begin at 3pm in conf. EB42C2
Thanks,
Ava | {
"pile_set_name": "Enron Emails"
} |
Leslie Reeves is working on the Tom Gros project (let me know if you need
details on this). She has asked for top 25 counterparties on EnronOnline.
In short, there is a new Texas law in the works that will allow for
electronic confirming of deals, and they want to determine if any of the top
25 are Texas companies so that we can pursue confirming deals
electronically.
Just wanted to get your approval before sending it on to her.
thanks
Sheri
---------------------- Forwarded by Sheri Thomas/HOU/ECT on 06/14/2000 09:46
AM ---------------------------
From: Jennifer deBoisblanc Denny
06/14/2000 09:46 AM
To: Sheri Thomas/HOU/ECT@ECT
cc:
Subject: Commodity Logic
Attached is the top 25 deal count C/P for EnronOnline for US Gas & US Power.
This is what I will forward to Leslie Reeves once I get the OK from Louise or
Sally through you.
Leslie Reeves will be working with Mary Solmonson to identify which of these
counter-parties reside in the state of Texas.
Just let me know when I can forward this to Leslie.
Thanks. | {
"pile_set_name": "Enron Emails"
} |
Send these to your favorite women drivers, it helps if they happen to be
democrats.
_________________________________________________________________________
Get Your Private, Free E-mail from MSN Hotmail at http://www.hotmail.com.
Share information about yourself, create your own public profile at
http://profiles.msn.com.
- algore.jpg
- annualwomendrivers.jpg | {
"pile_set_name": "Enron Emails"
} |
Lola Willis @ ENRON
02/14/2001 01:52 PM
To: [email protected], [email protected], [email protected],
dana [email protected]
cc:
Subject: Re: Fwd: FW: Subject: Read and Send Back
---------------------- Forwarded by Lola Willis/Corp/Enron on 02/14/2001
01:50 PM ---------------------------
"SweetP" <[email protected]> on 02/14/2001 01:54:10 PM
Please respond to "SweetP" <[email protected]>
To: "Dynette Martin" <[email protected]>
cc:
Subject: Re: Fwd: FW: Subject: Read and Send Back
Sending this back to you w/love.
----- Original Message -----
From: Dynette Martin
To: [email protected]
Sent: Wednesday, February 14, 2001 7:27 PM
Subject: Re: Fwd: FW: Subject: Read and Send Back
>? May today there be peace within you.
>??May you trust your inner feelings that you are exactly where
> you are meant to be.
> "I believe that friends are quiet angels who lift us to our feet when our
> wings have trouble remembering how to fly."
> Just send this to (4) people and see what happens on the fourth day.
> Do not break this, please. There is no cost, but lots of rewards.
>
Happy Valentine Day!!!
Get your FREE download of MSN Explorer at http://explorer.msn.com | {
"pile_set_name": "Enron Emails"
} |
FYI
---------------------- Forwarded by Mark - ECT Legal Taylor/HOU/ECT on
12/16/98 06:55 PM ---------------------------
Enron Capital & Trade Resources Corp.
From: Dan J Hyvl 12/16/98 05:09 PM
To: Mark - ECT Legal Taylor/HOU/ECT@ECT
cc: Jennifer Sabine/HOU/ECT@ECT
Subject: Master Swap Agreement for HL&P
Mark, Please forward the Master Swap Agreement to Jennifer Sabine for her
further handling with her counterparty at HL&P. Thank you. | {
"pile_set_name": "Enron Emails"
} |
Dear EvMBA students,
Please ignore this message if you did not apply for the summer
international program.
Unfortunately, very few of the 56 people who applied managed to provide me
with their e-mail addresses, hence the need for this spam message.
For those of you who applied, please note that you were asked for some
specific information. Without this information your participation in the
program can not be decided:
1. The semester level that you are currently (January 2001) enrolled in.
(47 out of 56 provided this.)
2. Your e-mail address (25 out of 56 provided this.)
3. Your preferences for program (53 indicated a first preference, 27
indicated a second and only 8 indicated a third.) At a minimum please
indicate your first preference. If no second preference is indicated you
will ONLY be considered for the first preference.
In order to proceed I would like those of you who did not provide complete
information to do so as soon as possible. Once I have complete information
we will establish a priority list for each program.
A total of 5 people who have participated previously have applied to
participate again.
Each program will enroll a maximum of 15 participants, for a total of 30.
With 56 applicants we will thus not be able to accommodate everyone. We
will, however, establish a waiting list. In 2000, we moved a total of 9
applicants from the initial waiting list into actual participation.
We have not yet made a determination between the Latin America and Pacific
destinations. Demand exceeds places for both. Given the recent (over the
last few weeks) increase in unrest in Jakarta we are reconfirming the
reasonableness of this destination.
Future messages will be sent to a specific e-mail alias.
Regards,
Sebastian
===============================
Sebastian Teunissen
Director of International Affairs
Haas School of Business
University of California, Berkeley
Berkeley, California 94720-1900 USA
Tel: (510) 643-4999
Fax: (510) 642-8228
http://www.haas.berkeley.edu/HaasGlobal | {
"pile_set_name": "Enron Emails"
} |
Lucy: Check with Kaye Ellis (X35968) and get on my calendar. Sara
Lucy Ortiz
08/28/2000 01:59 PM
To: Sara Shackleton/HOU/ECT@ECT
cc: Ross Prevatt/HOU/ECT@ECT
Subject: Legal Overview
Sara,
We have about 4 new people in our mid marketing group, and I've been putting
together meetings with Credit, Risk and the Back Office.
I think we're about ready for the Legal perspective and I would like to have
maybe 30 minutes of your time next week if its possible.
Regards,
Lucy
P.S.
Hope you're doing well. | {
"pile_set_name": "Enron Emails"
} |
I want to take a moment to thank each of you for having a summer Analyst or
Associate work on your team. I also want to remind everyone what a high
stakes activity this is for Enron.
Based on your recommendation, we will make offers at the end of the summer to
those interns who perform, and who you endorse as a potential future member
of your team. Those interns who have had a good experience and accept our
offer will be the lowest risk hires we make - from any source. We will have
effectively interviewed and watched them work for 2-3 months. They also have
the potential to be the most effective advocates and talent scouts we have,
when they return to campus. On the flip side, those who don't have meaningful
assignments, or have bad experiences during the summer can severely hurt our
efforts.
Thank you again for being part of this very important activity. If you have
any questions, or if areas of concern arise during the summer, please contact
Ted Bland (x35275), Traci Warner (x33242) or me (x36671).
We appreciate your contributions to this important effort for Enron.
Billy | {
"pile_set_name": "Enron Emails"
} |
Sara,
Please note on the attachment that there has been a change as to who the
Clearing Broker will be. Please confirm that this is acceptable.
Jason
Received: from sfc-notes2.simmonsco-intl.com ([63.161.189.1]) by
tfsgateway.andrews-kurth.com; Mon, 06 Nov 2000 10:16:27 -0600
Subject: Comments on Prime Brokerage Agreement with B of A
To: [email protected]
Bcc:
From: [email protected]
Date: Mon, 6 Nov 2000 10:17:21 -0600
Message-ID: <[email protected]>
X-MIMETrack: Serialize by Router on sfc-notes2/SCI(Release 5.0.4a |July 24,
2000) at 11/06/2000 10:17:28 AM
MIME-Version: 1.0
Content-type: text/plain; charset=us-ascii
Jason, here are the comments from Banc of America Securities, our clearing
broker. We are the executing broker for the Morgan Stanley, Bear Stearns
and Goldman Sachs accounts belonging to Enron. If you have additional
comments or questions please feel free to contact me at (713)223-7899 or
Glen Baringtime at the number indicated below. I am also sending Sara
Shackleton a copy via fax.
1. Banc of America Securities LLC should be substituted in place of
Simmons
& Company International.
2. The requested changes at paragraph 2 are o.k. except we would like
insert 1 to be modified by the addition of the word "gross" between "the"
and "negligence".
3. The requested change at paragraph 4 is o.k.
4. At paragraph 5(b), we do not want to add the word "reasonably." In the
event of a disaffirmance by the prime broker, we do not want to get into a
discussion whether needed information is reasonable or not. The change at
the end of 5(b) is fine.
5. The change at paragraph 9 is fine.
6. At paragraph 11(ii), in place of insert 3 I would suggest inserting the
word "material" between "any" and "representation".
7. The other changes at paragraph 11 are fine.
8. The changes at paragraph 12 are fine.
9. We cannot agree to the changes at 14(a) and (b). Specifically, with
respect to the request to add "reasonable," we do not wish to subject our
margin requirements to a reasonableness standard. With respect to the
requirement that we provide notice, while we generally will endeavor to
give
notice where reasonably possible, we cannot change our procedures for one
account.
10. We also cannot agree to the change at 14(c). A change to our interest
calculation method for our accounts will entail changes to our systems and
procedures such that it would be impractical for us to calculate interest
for one account in a contrary manner.
11. Insert 5 at paragraph 15 is fine.
12. Insert 6 at paragraph 16 is fine.
13. At insert 7 at paragraph 17, I do not understand the reference to the
Commodity Exchange Act and wonder if this should refer instead to the
Securities Exchange Act?
14. Insert 8 is too broad. We would not be able to clear and settle
trades
is we are prohibited from sharing information with any third party. Also,
my view is that the SEC's new privacy regulations provide effective
protection such that this provision is no longer necessary.
15. At paragraph 25, we would like to stay with the standard arbitration
provision as set out in the original document.
I can be reached at the numbers set forth below if you or your customer
have
any questions or comments concerning the above.
Glen Barrentine
Assistant General Counsel
NC1-007-20-01
704/386-9334 (voice)
704/386-9330 (fax)
[email protected] | {
"pile_set_name": "Enron Emails"
} |
---------------------- Forwarded by John J Lavorato/CAL/ECT on 01/25/2000
08:20 PM ---------------------------
Laura E Scott
01/25/2000 07:42 PM
To: Wanda Curry/HOU/ECT@ECT, Tanya Rohauer/HOU/ECT@ECT
cc: John J Lavorato/CAL/ECT@ECT, Rob Milnthorp/CAL/ECT@ECT
Subject: Blue Range Recovery
The attached spreadsheet outlines the remaining income (assuming no further
recovery) to be recorded on Blue Range. There is an issue regarding the
foreign exchange on the Houston reserve as detailed on this spreadsheet.
Canada's position is that this is a Canadian dollar denominated transaction
and we should be kept whole on the Canadian dollars. Please review, Wanda,
and let me know if you have any questions.
Milly, I wouldn't quite have writtin this the way Laura did. Let's talk. | {
"pile_set_name": "Enron Emails"
} |
Dear Vince,
?
Thanks for your call the other day regarding EPRM's upcoming enterprise risk
management conference. We seem to be making progress and are pulling
together some interesting subjects for inclusion this year. I am currently
at a stage where there are plenty of possible sessions and over the next
week I will be able to decide of which will stay and which will go.
?
I have attached a file that gives an indication of the topics that have been
identified so far. Although I have bullet points for the sessions I would
first like to identify interested parties and then work with them to develop
a session that reflects their particular expertise and experience. I also
think that by continuously developing the points we can make greater
allowances for continuity between each participant.
?
Based on our discussion I would be extremely interested in inviting you to
lead a session on the main conference. You seemed to have an interesting
view on operational risk and the particular challenges that are presented
within the energy industry. This session will run on Thursday, November
16th. The title is reasonably broad at this stage and any suggestions are
welcome.
?
Your overall views on the current conference content is also welcome and if
you feel that another session is more suited to your work do not hesitate to
contact me. I look forward to speaking with you soon.
?
Yours sincerely,
?
Paul Bristow
Senior Course and Conference Producer, Energy & Power Risk Management
+44 (0) 20 7484 9883
- maildoc.doc | {
"pile_set_name": "Enron Emails"
} |
---------------------- Forwarded by Don Miller/HOU/ECT on 10/31/2000 02:15 PM
---------------------------
Warren Schick@ENRON
10/30/2000 10:25 AM
To: Don Miller/HOU/ECT@ECT
cc: Jim Curry/Corp/Enron@ENRON, Robert Tilotta/Corp/Enron@ENRON, Matthew F
Gockerman/HOU/ECT@ECT
Subject: Re: Duke Tax Questions
Don:
The property tax quesitons with responses are attached. Please pay
particular attention to:
Linconln Center - 1st question
Wheatland - Romnan Number vii
If you have any questions please let me know.
Warren | {
"pile_set_name": "Enron Emails"
} |
This message is for the named person's use only. It may contain
confidential, proprietary or legally privileged information. No
confidentiality or privilege is waived or lost by any mistransmission.
If you receive this message in error, please immediately delete it and
all
copies of it from your system, destroy any hard copies of it and notify
the
sender. You must not, directly or indirectly, use, disclose,
distribute,
print, or copy any part of this message if you are not the intended
recipient. CREDIT SUISSE GROUP and each of its subsidiaries each reserve
the right to monitor all e-mail communications through its networks.
Any
views expressed in this message are those of the individual sender,
except
where the message states otherwise and the sender is authorised to state
them to be the views of any such entity.
Unless otherwise stated, any pricing information given in this message
is
indicative only, is subject to change and does not constitute an offer
to
deal at any price quoted.
Any reference to the terms of executed transactions should be treated as
preliminary only and subject to our formal written confirmation.
- Blank.doc | {
"pile_set_name": "Enron Emails"
} |
Hey Crystal hope things are well ....
Dawna is fine. We have two girls six (Kassandra) and four (Samantha). We
have been in Houston now three and half years. It has been a good move from
a career point of view. Obviously, you had heard my move from Pres./CEO of
Enron North America to Chair/CEO of EES.
I hope life has been as kind to you. Best of luck in the future.
Regards
Delainey
---------------------- Forwarded by David W Delainey/HOU/ECT on 02/14/2001
08:48 AM ---------------------------
From: Crystal Dobson/Enron@Gateway on 02/12/2001 09:34 AM GMT
To: David W Delainey/HOU/ECT@ECT
cc:
Subject: Hi Dave!
Hi Dave,
I have just returned back to work and noticed your name in one of the Enron
org change announcements. Congratulations! Is it fun ruling the universe??
Does this mean that you don't plan on becoming a professor in the near
future?!? Life in Calgary must seem very far away...
I hope that you and Donna are doing well in Houston. How many children do
you have now? Is Donna working, or enjoying life at home?
I am doing well. I am located in Oxford, and work part time at Enron
Direct. I have a 17 month old daughter who keeps me busy when I'm not at
work. Life is good in England. Hard to believe that 5 years has flown by
since I left Calgary.
I hope that all is well with you.
Crystal | {
"pile_set_name": "Enron Emails"
} |
gunk (gungk) noun
Any sticky or greasy residue or accumulation.
[Originally a trademark name for a degreasing solvent.]
"`I carry a bottle wherever I go,' the 25-year-old said Tuesday while on
the job at Gold's Gym in Westport. `It's so portable, and you never know
what gunk is in those water pipes.'"
David Klepper, Dental group says bottled water can lack fluoride,
Kansas City Star, Jun 21, 2000.
This week's theme: brand names that have entered the dictionary.
.............................................................................
One machine can do the work of fifty ordinary men. No machine can do the work
of one extraordinary man. -Elbert Hubbard, author, editor, printer
(1856-1915)
Ralph Waldo Emerson once said, "Language is a city to the building of which
every human being brought a stone." Invite your friends and family to join
in the quest by sending a gift subscription of A.Word.A.Day. It is free!
http://wordsmith.org/awad/gift.html
Pronunciation:
http://wordsmith.org/words/gunk.wav
http://wordsmith.org/words/gunk.ram | {
"pile_set_name": "Enron Emails"
} |
Assigned to: CN=Phillip Platter/OU=HOU/O=ECT
Updated by: CN=Phillip Platter/OU=HOU/O=ECT | {
"pile_set_name": "Enron Emails"
} |
I have all of you set up in my group profile for CES now.
---------------------- Forwarded by Chris Germany/HOU/ECT on 03/28/2000 05:53
PM ---------------------------
Chris Germany
03/28/2000 05:50 PM
To: Katherine L Kelly/HOU/ECT@ECT, Victor Lamadrid/HOU/ECT@ECT, Edward
Terry/HOU/ECT@ECT, Tricia Bowen/HOU/ECT@ECT, Dan Junek/HOU/ECT@ECT, Judy
Townsend/HOU/ECT@ECT, Cindy Vachuska/HOU/ECT@ECT, Clarissa
Garcia/HOU/ECT@ECT, Molly LaFuze/HOU/ECT@ECT, Robert Allwein/HOU/ECT@ECT,
Beverly Beaty/HOU/ECT@ECT, Anita K Patton/HOU/ECT@ECT, Victoria
Versen/HOU/ECT@ECT, Meredith Mitchell/HOU/ECT@ECT, Jessie
Patterson/HOU/ECT@ECT, Briant Baker/HOU/ECT@ECT, Sabra L Dinari/HOU/ECT@ECT,
Jesse Villarreal/HOU/ECT@ECT, Joe A Casas/HOU/ECT@ECT, Molly
Johnson/HOU/ECT@ECT, Robin Barbe/HOU/ECT@ECT, Scott Hendrickson/HOU/ECT@ECT,
Sarah Mulholland/HOU/ECT@ECT, Kate Fraser/HOU/ECT@ECT, Dick
Jenkins/HOU/ECT@ECT, Brenda H Fletcher/HOU/ECT@ECT
cc:
Subject: CES Daily March Requirements for 3/28 and after
My fault. I should have sent this out this morning.
---------------------- Forwarded by Chris Germany/HOU/ECT on 03/28/2000 05:50
PM ---------------------------
[email protected] on 03/28/2000 08:43:05 AM
To: " - *[email protected]" <[email protected]>, " -
*[email protected]" <[email protected]>
cc: " - *[email protected]" <[email protected]>, " -
*[email protected]" <[email protected]>, " - *[email protected]"
<[email protected]>, " - *[email protected]"
<[email protected]>, " - *[email protected]"
<[email protected]>, " - *[email protected]" <[email protected]>,
" - *[email protected]" <[email protected]>, " -
*[email protected]" <[email protected]>, " -
*[email protected]" <[email protected]>, " - *[email protected]"
<[email protected]>, " - *[email protected]" <[email protected]>
Subject: CES Daily March Requirements for 3/28 and after
The attached file contains our daily volume requirements for
and . There are two worksheets: The one labelled with today's
date
contains the volumes that we need at each of the delivery points indicated.
The schedulers will want to check this sheet to see how much gas is needed at
a
specific point.
The sheet labelled 'Daily Change' shows the change (increase +/decrease -) in
the requested daily volume relative to a prior value. For the current gas
day,
the change is an intra-day change and is calculated using the previous day's
volume request for the current day (e.g., If the current gas day is 3/28, then
the change is computed with respect to the 3/27 request for 3/28). For
tomorrow's gas day and any subsequent ones shown, the change is computed using
the First-of-the-month volumes requested for those days. (e.g., If today is
3/28, then the change for 3/29, 3/30, etc. is computed with respect to the
first-of-the-month volumes for those days.) This sheet should be useful in
determining prices for daily changes in gas volumes that we take or turn back.
Doug Kinney
Ph: 703-561-6339
Fax: 703-561-7317
- 03-28-00 daily vols AM.xls | {
"pile_set_name": "Enron Emails"
} |
do u mean 2:30 call 2day w/HK, JS, SN,LR, JS & RH?? | {
"pile_set_name": "Enron Emails"
} |
THE FOLLOWING IS FROM AN ACTUAL 1950'S HOME ECONOMICS TEXTBOOK INTENDED FOR
HIGH SCHOOL GIRLS, TEACHING THEM HOW TO PREPARE FOR
MARRIED? LIFE:
1. Have dinner ready. Plan ahead, even the night before, to have a delicious
meal - on time. This is a way of letting him know that
you have been thinking about him, and are concerned about his needs.? Most
men are hungry when they come home and the prospects of a
good meal are part of the warm welcome needed.
2. Prepare yourself. Take 15 minutes to rest so you will be refreshed when he
arrives. Touch up your make-up, put a ribbon in your
hair and be fresh looking. He has just been with a lot of work-weary people.
Be a little gay and a little more interesting. His
boring day may need a lift.
3. Clear away clutter. Make one last trip through the main part of the house
just before your husband arrives, gather up school
books, toys, paper, etc. Then run a dust cloth over the tables. Your husband
will feel he has reached a haven of rest and order, and
it will give you a lift too.
4. Prepare the children. Take a few minutes to wash the children's hands and
faces if they are small, comb their hair, and if
necessary, change their clothes. They are little treasures and he would like
to see them playing the part.
5. Minimize the noise. At the time of his arrival, eliminate all noise of
washer, dryer or vacuum. Try to encourage the children to
be quiet.? Greet him with a warm smile and be glad to see him.
6. Some DON'TS. Don't greet him with problems or complaints.? Don't complain
if he's late for dinner. Count this as minor compared
with what he might have gone through that day.
7. Make him comfortable. Have him lean back in a comfortable chair or suggest
he lay down in the bedroom. Have a cool or warm drink
ready for him. Arrange his pillow and offer to take off his shoes.? Speak in
a low, soothing and pleasant voice. Allow him to relax
and unwind.
8. Listen to him. You may have a dozen things to tell him, but the moment of
his arrival is not the time. Let him talk first.
9. Make the evening his. Never complain if he does not take you out to dinner
or to other places of entertainment instead try to
understand his world of strain and pressure and his need to be home and
relax.
10. The goal. Try to make your home a place of peace and order where your
husband can relax.
? ***********************************
THE UPDATED VERSION FOR THE WOMAN OF 2000:
1. Have dinner ready. Make reservations ahead of time. If your day becomes
too hectic just leave him a voice mail message regarding
where you'd like to eat and at what time. This lets him know that your day
has been crappy and gives him an opportunity to change
your mood.
?2. Prepare yourself. A quick stop at the Clinique counter on your way home
will do wonders for your outlook and will keep you from
becoming irritated every time he opens his mouth. (Don't forget to use his
credit card.)
3. Clear away the clutter. Call the housekeeper and tell her that any
miscellaneous items left on the floor by the children can be
placed? in the Goodwill box in the garage.
4. Prepare the children. Send the children to their rooms to watch television
or play Nintendo. After all, both of them are from his
previous marriage.
5. Minimize the noise. If you happen to be home when he arrives, be in
bathroom with the door locked.
6. Some DON'TS. Don't greet him with problems and complaints. Let him speak
first, and then your complaints will get more attention
and remain fresh in his mind throughout dinner.? Don't complain if he's late
for dinner, simply remind him that the leftovers are in
the fridge and you left the dishes for him to do.
7. Make him comfortable. Tell him where he can find a blanket if he's cold.?
This will really show you care.
8. Listen to him. But don't ever let him get the last word.
9. Make the evening his. Never complain if he does not take you out to dinner
or other places of entertainment, go with a friend or
go shopping (use his credit card.) Familiarize him with the phrase Girls'
Night Out.
10.The Goal. Try to keep things amicable without reminding him that he only
thinks the world revolves around him.? Obviously he's
wrong, it revolves around you. | {
"pile_set_name": "Enron Emails"
} |
We will need the "organizational ID" number for the Delaware, Maryland and
Texas entities. If you wish, we can obtain this information from CT Corp.
or a similar service provider for a charge of $12 per entity.
Also, for UCC filing purposes, we need to know whether any counterparty is
a "transmitting utility", i.e., entity primarily engaged in transmitting or
producing electricity or transmitting goods by pipeline.
Finally, I assume you will consult with local counsel regarding the
Canadian counterparties.
Thank you.
Lech Kalembka
Cadwalader, Wickersham & Taft
100 Maiden Lane
New York, NY 10038
Tel.: (212) 504-6918
Fax: (212) 504-6666
E-mail: [email protected]
"Heard,
Marie" To: [email protected]
<Marie.Heard@ cc:
ENRON.com> Subject: FW: Enron Canada
Office: Corp
11/06/2001
02:04 PM
Is there anything else you need for BP Amoco?
Marie
> -----Original Message-----
> From: "Dixon, Billy D" <[email protected]>@ENRON
> Sent: Tuesday, November 06, 2001 1:00 PM
> To: Heard, Marie
> Subject: RE: Enron Canada Corp
>
> Principal Operating Offices:
>
> BP Corporation North America Inc.
> 200 East Randolph Drive
> Chicago, Illinois 60601
>
> BP Energy Company
> 501 West Lake Park Boulevard
> Houston, Texas 77079
>
> Vastar Resources, Inc.
> 200 East Randolph Drive
> Chicago, Illinois 60601
>
> BP Canada Energy Company
> 240 - 4th Avenue S.W.
> Calgary, Alberta T2P 4H4
>
> BP Canada Energy Marketing Corp.
> 200 East Randolph Drive
> Chicago, Illinois 60601
>
> Cibola Energy Services Corporation
> 350 N. St. Paul Street
> Dallas, TX 75201
>
> IGI Resources, Inc.
> 200 East Randolph Drive
> Chicago, Illinois 60601
>
> BP Oil Supply Company
> 200 East Randolph Drive
> Chicago, Illinois 60601
>
> BP Products North America Inc.
> 200 East Randolph Drive
> Chicago, Illinois 60601
>
> BP Amoco Chemical Company
> 200 East Randolph Drive
> Chicago, Illinois 60601
>
> Atlantic Richfield Company
> 333 S. Hope Street
> Los Angeles, CA 90071
>
> Amoco Production Company
> 501 WestLake Park Boulevard
> Houston, Texas 77079
>
> BP Chemicals Inc.
> 200 East Randolph Drive
> Chicago, Illinois 60601
>
>
> -----Original Message-----
> From: Heard, Marie [mailto:[email protected]]
> Sent: Tuesday, November 06, 2001 8:54 AM
> To: [email protected]
> Subject: RE: Enron Canada Corp
>
>
> I sure will if you will tell me the principal place of business of all
> your entities party to the Master Netting Agreement.
>
> Enron Canada Corp.
> 3500, 400 - 3rd Avenue S.W.
> Calgary, Alberta T2P 4H2
>
> > -----Original Message-----
> > From: "Dixon, Billy D" <[email protected]>@ENRON
> > Sent: Tuesday, November 06, 2001 7:47 AM
> > To: Heard, Marie
> > Subject: Enron Canada Corp
> >
> > Would you please tell me where Enron Canada Corp.'s principal place
> of
> > business in Canada is located?
> >
> > Very truly yours,
> >
> > BILLY
> > Billy D. Dixon
> > Attorney
> > BP America Inc.
> > 501 Westlake Park Blvd., Rm 16.166
> > Houston, Texas 77079
> > Direct 281/366-4745
> > Fax 281/366-5901
> > [email protected]
> >
> > ***IMPORTANT -- THIS EMAIL AND ANY ATTACHMENTS HERETO ARE
> > ATTORNEY-CLIENT
> > AND/OR ATTORNEY WORK-PRODUCT PRIVILEGED AND CONFIDENTIAL. If you
> have
> > received this email in error, do not under any circumstances read,
> > forward,
> > copy, disseminate or save this email or any of its attachments. If
> > you have
> > received this email in error, take the following actions: (1) reply
> to
> > this
> > email indicating that you received this email in error, and (2)
> delete
> > and
> > completely erase this email and its attachments from your computer
> and
> > any
> > backup systems or "Deleted Items" folders.
> >
>
>
> **********************************************************************
> 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.
> **********************************************************************
==============================================================================
NOTE: The information in this email is confidential and may be legally privileged. If you are not the intended recipient, you must not read, use or disseminate the information. Although this email and any attachments are believed to be free of any virus or other defect
that might affect any computer system into which it is received and opened, it is the responsibility of the recipient to ensure that it is virus free and no responsibility is accepted by Cadwalader, Wickersham
& Taft for any loss or damage arising in any way from its use.
============================================================================== | {
"pile_set_name": "Enron Emails"
} |
Any problem? please advise Don.
---------------------- Forwarded by Steven J Kean/HOU/EES on 09/10/99 01:15
PM ---------------------------
From: Don Hawkins AT ENRON_DEVELOPMENT@CCMAIL on 09/10/99 12:56 PM
To: Steven J Kean@EES
cc: Andre LeGallo/EPSC/HOU/ECT
Subject: Andre LeGAllo
Steve, it is my understanding from Andre he will be retiring in early
December. Prior to his retirement, I would like to use Andre to assist Asset
Operations in completing Crisis Management Simulation training at the TGS
asset in Argentina in November and at the San Juan Gas and ProCaribe assets
in Puerto Rico and the Ventane asset in Venezuela. The Puerto Rico and
Ventane simulations have yet to be scheduled but need to be completed prior
to year end.
Asset Operations will outsource crisis simulation training commencing in
January of 2000 but to complete this years objectives, Andre's assistance is
necessary.
As has currently been the practice, Asset Operations will pick up the
expenses for his time and efforts.
If you have questions, please advise.
Don | {
"pile_set_name": "Enron Emails"
} |
given that I don't even know what UAF is, I will plan to attend.
From: Drew Fossum 10/05/2000 02:37 PM
To: Steve Klimesh/ET&S/Enron@ENRON
cc: Mike McGowan/ET&S/Enron@ENRON, Mary Kay Miller/ET&S/Enron@ENRON, Dave
Neubauer/ET&S/Enron@ENRON, Michel Nelson/ET&S/Enron@ENRON, Steve
Klimesh/ET&S/Enron@ENRON, Rod Hayslett/FGT/Enron@ENRON, Tony
Pryor/ET&S/Enron@ENRON, Lee Huber/ET&S/Enron@ENRON, Susan
Scott/ET&S/Enron@ENRON, Maria Pavlou/ET&S/Enron@ENRON, Dari
Dornan/ET&S/Enron@ENRON, Jim Talcott/ET&S/Enron@ENRON
Subject: Re: UAF Presentation
Yes and Yes. I'd like our Houston lawyers to attend the Houston presentation
and if you can do one up here, I'd like our Omaha lawyers to attend also.
Thanks. DF
From: Steve Klimesh 10/05/2000 09:38 AM
To: Mike McGowan/ET&S/Enron@ENRON, Drew Fossum/ET&S/Enron@ENRON, Mary Kay
Miller/ET&S/Enron@ENRON, Dave Neubauer/ET&S/Enron@ENRON, Michel
Nelson/ET&S/Enron@ENRON
cc: Steve Klimesh/ET&S/Enron@ENRON, Rod Hayslett/FGT/Enron@ENRON
Subject: UAF Presentation
For the past two months I have been visiting the GPG Operations Regional
offices giving a presentation on physical "UAF Fundamentals and Issues" .
The presentation has been very well received. Interest is high, and numerous
questions have been raised at each meeting. The presentation can be given in
50 minutes if questions are limited. It has taken up to 3 hours due to the
amount of questions from the attendees.
One focus of these meetings is to give the field staff a better
understanding of the impact UAF has on our bottom line (TW) and the impact
it has on our shipper costs (NNG).
Yesterday, 10/4/00 I had the opportunity to meet with several members of the
financial group in Houston to discuss UAF. Coming out of that meeting was a
request to schedule a Houston presentation on "UAF Fundamentals". This has
been done, and will be at 1 PM on Oct. 18, 2000. (Place yet to be determined.)
Two Questions:
Is there any interest in having me give the presentation in Omaha?????
Do you have any staff in Houston that you would like to invite to the 10/18
presentation????
Copy of the presentation if you are interested:
Thanks Steve 37885 | {
"pile_set_name": "Enron Emails"
} |
Start Date: 1/15/02; HourAhead hour: 10; No ancillary schedules awarded. No variances detected.
LOG MESSAGES:
PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final Schedules\2002011510.txt | {
"pile_set_name": "Enron Emails"
} |
Enron Corporation:
We would like to welcome you to www.kudlow.com. Either today or tomorrow you will receive an email stating there is a new Kudlow Commentary posted.
Simply click on the link, type in your email address and password "kudlow" to view and download Larry Kudlow's latest column. If you wish to change your password, simply click on "my profile" once you have logged in.
Please be sure to check out all the other features of our website. We welcome your questions and comments.
Thank you,
KUDLOW & CO., LLC | {
"pile_set_name": "Enron Emails"
} |
Monday, September 11 at 3pm for 45 minutes or so works fine. I plan to
arrive at Bush International airport at 12 noon and depart at 6pm. I very
much look forward to our meeting and discussion. A preliminary list of some
of the largest Houston corporations would include (Compaq Computer, American
General, BMC Software, Conoco, Sysco, Waste Management, Coastal, Houston
Industries, Baker Hughes, Shell Oil), but we can discuss this once we've
outlined the objectives of such a regional meeting to promote the case for
corporate philanthropy. Chuck Lee (Verizon) is planning to host a similar
meeting in Dallas.
----- Original Message -----
From: <[email protected]>
To: Charles Moore <[email protected]>
Sent: Wednesday, August 30, 2000 6:37 PM
Subject: Re: meeting
>
> Hi Mr. Moore -
>
> I did hear back from Mr. Lay. Will September 11 at 3:00 p.m. work for
you?
>
> I look forward to hearing from you.
>
> Rosalee
>
>
>
>
> "Charles Moore" <[email protected]> on 08/23/2000 08:57:49 AM
>
> To: <[email protected]>
> cc:
> Subject: meeting
>
>
>
> With regard to working out a convenient date to meet with you, Rosalee
has
> suggested that your week of September 4 is pretty well booked-up. Would
> either September 11 or 13 work? After that I have to join Norm Blake at
> the Olympics in Sydney. While all of this can de done by phone, as deputy
> to the chairmen, I'm making every effort to meet (albeit briefly) with
> each Committee member. If you are willing to host a meeting in Houston, I
> want to make every effort to have Paul Newman in attendance.
>
>
>
> | {
"pile_set_name": "Enron Emails"
} |
Enovate's bank account is already set up under the Enron global agreement
with Citibank.
The facility will be lent by ENE and People's. If People's does not fund its
half of enovate obligatiosns and an overdraft of the enovate Citibank account
occurs, ENE would eventually be liable for the overdraft amount to Citi
(Sam-please confirm.) If Enron would be liable under its gloabal account
agreement then Enron needs an indemnification/guarantee from People's in the
event that People's does not fund its half. | {
"pile_set_name": "Enron Emails"
} |
Can we have a 10-15 min meeting sometime today before 3:00 p.m.?
Also, I've filled out the remainder of the login and password file for my
information. | {
"pile_set_name": "Enron Emails"
} |
We have WV produced TCo. To my knowledge we have no Mountaineer. CES never
wanted to buy Mountaineer production because of the daily balancing for both
the production and the end-user side.
John
Chris Germany@ECT
03/13/2000 10:14 AM
To: John M Singer/Corp/Enron@ENRON
cc: [email protected], Scott Goodell/Corp/Enron@ENRON
Subject: Re: CES needs for March
Do we currently have any Mountaineer or West Virginia production?
---------------------- Forwarded by Chris Germany/HOU/ECT on 03/13/2000 10:11
AM ---------------------------
From: John M Singer @ ENRON 03/13/2000 09:51 AM
To: Chris Germany/HOU/ECT@ECT
cc:
Subject: Re: CES needs for March
I have no contacts to buy from. Mountaineer production is normally sold on
term deals.
Chris Germany@ECT
03/13/2000 09:36 AM
To: John M Singer/Corp/Enron@ENRON
cc: Scott Goodell/Corp/Enron@ENRON, [email protected]
Subject: CES needs for March
CES needs 17dts/day of Mountaineer gas for the rest of March. The request
was made by Kim Novesak??
I will be out this afternoon. Please call Brian Perrone (703-561-6486) or
Scott Goodell at 713-853-7711.
Thanks | {
"pile_set_name": "Enron Emails"
} |
Thanks.
-----Original Message-----
From: Rosenberg, David E.
Sent: Tuesday, March 05, 2002 2:37 PM
To: Lokey, Teb
Subject: FW: March Vacation Plan
-----Original Message-----
From: Tu, Denis
Sent: Tuesday, February 26, 2002 7:12 AM
To: Hayslett, Rod
Cc: Barnes, Caroline; Boatman, Jack; Campos, Kathy; Keiser, John; Rosenberg, David E.
Subject: March Vacation Plan
I plan to take 3/5 (Tue), 3/7 (Thu), 3/12 (Tue) and 3/14 (Thu) as my vacation days. | {
"pile_set_name": "Enron Emails"
} |
Wrenshall - 35 to 300
Garner - 35 to 300
Redfield - 75-78 withdrawal
Cunningham - 200 withdrawal 240 possibly if unit 5 is fixed
500-600 max injection
Lyons - 11-12 | {
"pile_set_name": "Enron Emails"
} |
Your example is correct.
Lindy Donoho
12/06/2000 11:19 AM
To: Susan Scott/ET&S/Enron@ENRON
cc: Drew Fossum/ET&S/Enron@ENRON, Maria Pavlou/ET&S/Enron@ENRON, Mary Kay
Miller/ET&S/Enron@ENRON, Glen Hass/ET&S/Enron@ENRON, Mary
Darveaux/ET&S/Enron@ENRON, Lynn Blair/ET&S/Enron@ENRON
Subject: Re: TW
I think the example of when quantities may be subject to transportation and
fuel is when an Operator overpulls at a delivery point and then cashes out
the imbalance, TW could be out the transport and fuel. For example,
DP is SoCal/Needles: scheduled volume is 700,000/d
actual volume delivered is 720,000/d
imbalance is 20,000/d, SoCal owes TW
TW collects transport & fuel on 700,000/d (bill on scheduled volume)
SoCal cuts a check to TW for dollar value of 20,000/d
TW doesn't collect transport & fuel on 20,000/d
Payback in-kind doesn't have this problem:
The 20,000/d transport gets scheduled at Needles, TW collects the
transport & fuel (bill on scheduled volume), but we physically give
SoCal 20,000/d less on that day
Is this the correct example? I'm copying Lynn Blair to verify.
Susan Scott
12/06/2000 09:20 AM
To: Drew Fossum/ET&S/Enron@ENRON
cc: Maria Pavlou/ET&S/Enron@ENRON, Mary Kay Miller/ET&S/Enron@ENRON, Glen
Hass/ET&S/Enron@ENRON, Mary Darveaux/ET&S/Enron@ENRON, Lindy
Donoho/ET&S/Enron@ENRON
Subject: Re: TW
We did not answer protests to our Order 637 filing.
The gist of PNM's protest in RP00-626 is that we shouldn't be able to charge
a transport or fuel fee for our imbalance netting and trading service. I
agree with PNM that our tariff language is vague in this regard. What
exactly do we mean by "no additional cost...unless through the allocation
process, quantities may be subject to transportation and fuel"?? Can
someone help me with this?
Since we really did not want to make this compliance filing anyway, I would
say we probably wouldn't mind if FERC rejected our tariff sheet outright.
However, it's more likely that they will just instruct us to clarify our
language. Or they could tell us to remove the "subject to transportation and
fuel" provision. If we want to preserve our right to charge transport and
fuel, it might be worthwhile filing something in the way of an answer.
However, I am going to need some assistance in understanding what the
language means and why we think we can do it, so I can justify it to FERC.
Any comments you have in this regard would be appreicated.
From: Drew Fossum 12/05/2000 05:18 PM
To: Maria Pavlou/ET&S/Enron@ENRON, Susan Scott/ET&S/Enron@ENRON
cc: Mary Kay Miller/ET&S/Enron@ENRON, Glen Hass/ET&S/Enron@ENRON, Mary
Darveaux/ET&S/Enron@ENRON
Subject: TW
Should we respond to PNM's protest of the dollar valuation of imbalances
prior to netting and trading? Did we already respond to this issue when they
filed their protest of the 637 filing? DF | {
"pile_set_name": "Enron Emails"
} |
Kate, please verify with traders
tom
deal 512827.01
enron sells merrill
260.00 Q2 2001
25 mws
bloomberg has fee .005 we have zero
bob badeer
deal 512927.01
Enron sells merrill
Q2 2001
250.00
bloomberg has .005 fee, we have zero
if fee
please add
thanks | {
"pile_set_name": "Enron Emails"
} |
5 day or 7 day for hub cash
-----Original Message-----
From: Arnold, John
Sent: Sunday, November 18, 2001 11:50 AM
To: Lavorato, John
Subject: RE:
will do.
The purpose of nymex on weekends is to make everybody in the industry bring up EOL every day. There were a few days when I would get in at 7 and power traders in the industry were already trading gas either throught the broker market or on ice. I'm trying to ensure EOL is the primary system used to trade gas. However, it is a money loser. If we gap down 10 cents over a weekend, I lose an average of 5 cents on 600 lots, $300,000, minus bid/offer on maybe 50 buy/sells of 30 lots times .005 is $75,000. I don't really want to put more automatic products on the system that do little good as far as promoting EOL but are money losers. The one exception is Hub cash which I think should be a 24 hour 5 day a week product.
Are the FedEx's getting to everybody Monday or are you sending them Monday?
-----Original Message-----
From: Lavorato, John
Sent: Sun 11/18/2001 10:49 AM
To: Arnold, John
Cc:
Subject:
I need to give you a task. Figure out what I lost last week.
Also, why don't we have the rest of month henry hub swap up on weekends.
this week
150 each
indi +5.5
jets +5.5
phili -7
seattle -3.5
tenn +2
sd +9
jack +5.5 -----> 250
st louis -8
st louis/ne england over 46.5 | {
"pile_set_name": "Enron Emails"
} |
i don't think she has. they never hung out in high school and just started
living together in jan. they were more friendly rather than friends.
hopefully it will be fun. she seems really nice. | {
"pile_set_name": "Enron Emails"
} |
Please see the following articles:
Sac Bee, Tues, 5/1: "$18 billion power tab projected: An immediate
outcry greets Davis' plan for state energy purchases through June 2002"
Sac Bee, Tues, 5/1: "PUC seeks to retain PG&E control"
Sac Bee, Tues, 5/1: "Legislators propose tax on energy profits"
Sac Bee, Tues, 5/1: "Dan Walters: Davis finally generates an energy plan,
but will it work?"
Sac Bee, Tues, 5/1: "Soaring energy bills hurt eateries: Many restaurants in
capital area,
despite good patronage, expect to raise menu prices"
Sac Bee, Mon, 4/30: "Empowering the public (Editorial)
Obstacles keep cities out of energy"
Sac Bee, Tues, 5/1: "Daniel Weintraub: An energy trader says it's time to
limit profits" (Editorial)
LA Times, Tues, 5/1: "Power Companies Step Up Lobbying"
LA Times, Tues, 5/1: "Power Marketer Ordered by FERC to Refund $8 Million"
LA Times, Tues, 5/1: "Davis Turns to Bankruptcy Court for Help in Plan to Buy
Power Grid"
SF Chron, Tues, 5/1: "Feds want surcharge to pay utilities' debts
THE PLAN: Additional rate boost likely, cash would go to power suppliers"
SF Chron (AP), Tues, 5/1: "Lawmakers offer bills aimed at cutting natural
gas prices"
SF Chron (AP), Tues, 5/1: "Developments in California's energy crisis"
SF Chron, Tues, 5/1: "Second try for tax cut in Oakland
Smaller utility levy likely after Brown veto"
SF Chron, Tues, 5/1: "Feds want surcharge to pay utilities' debts
THE PLAN: Additional rate boost likely, cash would go to power suppliers"
SF Chron, Tues, 5/1: "Warning of a summer power 'Armageddon'
Davis aide paints dire scenario in push for bonds to buy power "
Mercury News, Tues, 5/1: "Cheney rejects conservation"
Mercury News (AP), Tues, 5/1: "Federal energy regulators propose surcharge
plan
to pay utilities' debt"
Mercury News, Tues, 5/1: "Record prices for power expected this summer in
U.S."
Mercury News, Tues, 5/1: "Davis calls generators on carpet"
Mercury News, Tues, 5/1: "PG&E lobbied heavily just before bankruptcy"
OC Register, Tues, 5/1: "Cheney outlines energy strategy for U.S."
OC Register, Tues, 5/1: "Bush taking a supply-side policy on energy"
OC Register, Tues, 5/1: "Power supplier will pay to settle"
OC Register, Tues, 5/1: "Energy notebook: Bills target high natural-gas
prices"
OC Register, Tues, 5/1: "Leadership blackout
Gov. Davis seems unplugged in dealing with the crisis "
(Commentary)
Individual.com (Bridgenews), Tues, 5/1: "Calif. Gov Davis/ PG&E utility
creditors may like grid sale --Davis sees Calif energy supply
outstripping need by fall '03 --Davis/ PG&E credit"
Individual.com (AP), Tues, 5/1: "Davis Optimistic Despite Power Woes"
NY Times, Tues, 5/1: "Cheney Promotes Increasing Supply as Energy Policy"
NY Times, Tues, 5/1: "River's Power Aids California and Enriches the
Northwest"
Wash. Post, Tues, 5/1: "Bush Energy Plan Will Emphasize Production; Cheney:
Conservation Is Part of Effort"
Energy Insight, Tues, 5/1: "Western Dreaming: A Buyer's Cartel"
------------------------------------------------------------------------------
---------------------------------------------------------------
$18 billion power tab projected: An immediate outcry greets Davis' plan for
state energy purchases through June 2002.
By Emily Bazar and Jim Sanders
Bee Capitol Bureau
(Published May 1, 2001)
Seeking to sell his energy rescue plan to reluctant Republicans, Gov. Gray
Davis on Monday released a long-awaited financial plan that shows the state
will spend more than $18 billion on electricity through June 2002, but can
maneuver the energy crisis without additional rate increases or draining the
state budget.
His projections, however, were immediately attacked by lawmakers and industry
experts, who called them overly optimistic and unrealistic.
The plan, which Davis is using to bolster his energy effort with legislators
and Wall Street, is based on a series of assumptions, among them that the
state will pay significantly less for electricity on the spot market during
the hottest summer months than it pays now, and that dozens of shuttered
small generators will start selling discount electricity again.
"No one has a crystal ball into the future," state Treasurer Phil Angelides
told reporters. "The administration's plan makes some assumptions, as any
plan must. The question is, are they reasonable assumptions, and what do we
need to do collectively to make the plan succeed?"
The Democratic governor has long faced criticism for refusing to divulge
details about the state's power purchases, both on the expensive spot market
and under long-term contracts.
Last week, the issue was thrust into the forefront when Assembly Republicans
told the governor they would not vote for a bill authorizing the sale of $10
billion in revenue bonds to pay for the state's power purchases until they
received additional information.
If legislators don't pass the bill -- which requires a two-thirds majority
and, therefore, Republican votes -- Angelides said the state might miss a May
8 deadline for closing on a crucial $4.1 billion bridge loan.
On Monday, Davis relented, releasing his response in the form of an
inch-thick document filled with tables, bar graphs and projections. The plan
gives the first detailed, month-by-month account of the state Department of
Water Resources' expected power purchases through 2002.
But the projections failed to win votes immediately in the Assembly
Republican caucus, where Minority Floor Leader Dave Cox said he is not yet
ready to support the proposed $10 billion in bonds. The caucus will meet
today to decide what to do next, he said.
"Many of the assumptions are questionable and there is no answer as to what
will happen if the assumptions prove incorrect," said Assemblyman Keith
Richman, R-Sun Valley. "I'm very concerned."
Davis' plan relies on numerous estimates, including likely summer
temperatures and annual rainfall, and an assumption that Californians will
use 7 percent less energy this year than they did last year.
Private consultants who helped draft the plan also predicted that most of the
small generators that stopped producing electricity because they hadn't been
paid for months will resume production at discounted rates. They argued that
their assumptions are conservative and allow for unexpected changes.
"There are lots of variables that are not simply assumptions," said Joseph
Fichera, an investment banker with Saber Partners in New York City and a
consultant to the administration. "I would say probably 80 percent is what we
know are facts and 20 percent are expectations."
Republican lawmakers and others were particularly uncomfortable with the
administration's conclusion that the state will spend an average of $195 per
megawatt-hour for electricity on the spot market in July, August and
September, the hottest months of the year when electricity is expected to be
sold at a premium.
Some have predicted that the costs could go much higher.
"There's a reasonable chance this summer that the state will be paying $1
billion per week" for electricity, Severin Borenstein, head of the University
of California Energy Institute, told state regulators last week.
With summer prices forecast to be $500 to $700 per megawatt-hour, and the
state Department of Water Resources expected to need more than 200,000
megawatt-hours a day, it would be easy to rack up billion-dollar power bills,
he said in an interview.
The state spent $90 million on power on a single day last week, but prices
declined somewhat afterward, according to the governor's press office.
Davis' Cabinet secretary, Susan Kennedy, defended the estimated summertime
cost, saying the state has secured enough long-term contracts to limit its
exposure to the most expensive spot market prices.
"It's almost impossible to say what's plausible and what isn't," said Mike
Florio, an attorney with The Utility Reform Network, a Bay Area consumer
group.
It makes sense that power costs, overall, would drop as more long-term
contracts kick in and the state buys less electricity on the spot market, he
said. But many of those contracts are still being negotiated.
"What this assumes about contracts that have not been signed is the really
interesting question," he said.
Assemblyman Tony Strickland, R-Thousand Oaks, said the Davis administration
hasn't been able to provide assurances that if bonds are sold now, more won't
be needed in the future.
"Their assumptions are nothing more than educated guesses," Strickland said.
"And the educated guess of the Legislature was that we wouldn't be in the
power buying business in the first place."
Kennedy conceded that the administration's plan has its limits, and won't
prevent the state from experiencing rolling blackouts in the coming months if
prices get too high or its assumptions are proved wrong.
"The bottom line will be we will either need to borrow a little bit more or
we're going to see more blackouts," she said.
The Bee's Emily Bazar can be reached at (916) 326-5540 or [email protected].
Bee staff writers Carrie Peyton and John Hill contributed to this report.
------------------------------------------------------------------------------
---------------------------------------------
PUC seeks to retain PG&E control
By Claire Cooper
Bee Legal Affairs Writer
(Published May 1, 2001)
SAN FRANCISCO -- Warning that California consumers and the state economy
could be in grave danger, the state Public Utilities Commission urged a
federal bankruptcy judge Monday not to sever the commission's regulatory
control of Pacific Gas and Electric Co.
On April 9, three days after filing for Chapter 11 bankruptcy protection,
PG&E petitioned the Bankruptcy Court to block parts of a recent PUC order.
PG&E said the provisions conflicted with bankruptcy rules and interfered with
its legal right to recover skyrocketing wholesale energy coasts.
The provisions at issue -- adopted by the PUC on March 27 along with a 30
percent rate increase -- imposed new accounting requirements on the
utilities, but the consequences were potentially dramatic. Depending on the
way certain costs are counted, PG&E may or may not be entitled to early
termination of an electricity rate freeze adopted by the Legislature five
years ago.
PG&E said the accounting provisions changed the rules retroactively and
artificially extended the rate freeze.
But the PUC disagreed -- and said the issue is even larger. In a series of
documents filed Monday, the commission characterized PG&E's petition as "the
first step in (the company's) plan to deregulate itself." If PG&E succeeds in
stripping California of its power to regulate its electric utilities, the
commission said, "PG&E may be able to claim an artificial end to the rate
freeze, which could result in drastically higher retail electric rates. The
harm to California's consumers and economy could be grave."
The commission said that the petition should be dismissed on grounds of
"sovereign immunity" -- the state's right not to be sued by private parties
-- and because the nation's bankruptcy laws bar interference with the state's
exercise of its regulatory powers.
"The accounting proposal the commission adopted was illegal before we filed
for Chapter 11," PG&E spokesman Ron Low said Monday. "Now that we are in
Chapter 11, it not only affects our shareholders, it also impacts our
creditors."
The Bee's Claire Cooper can be reached at (415) 551-7701 or
[email protected].
------------------------------------------------------------------------------
------------------------
Legislators propose tax on energy profits
By Kevin Yamamura
Bee Capitol Bureau
(Published May 1, 2001)
With power producers reaping profits that increased fivefold last year, some
state lawmakers are pushing a tax on future earnings as the best way to keep
generators honest.
California would recoup 100 percent of power profits deemed unreasonable
through a "windfall profits tax" proposed by state Sen. Nell Soto, D-Pomona.
Her bill, SB 1x, cleared the Senate Appropriations Committee on Monday on a
7-3 vote.
The proposal would force generators to give the state any money collected
above a reasonable limit determined by the state Public Utilities Commission.
That money probably would be doled out in equal portions to state taxpayers,
possibly through income tax returns, though details remain vague.
The bill is aimed principally at five out-of-state companies -- AES Corp.,
Duke Energy Corp., Dynegy Inc., Mirant and Reliant -- that bought California
power plants under deregulation and saw profits increase last year at an
average of 508 percent, according to Democratic estimates.
"What this bill says is, 'You can't come in and rip us off,' " said Senate
President Pro Tem John Burton, D-San Francisco.
Critics said the proposal would only discourage companies from building new
power plants in California or producing power when the state needs it most.
During the worst of California's energy blues, utilities and the state have
paid generators and marketers well above 30 cents per kilowatt-hour.
Soto has suggested an 8 cents a kilowatt-hour cap, meaning that any price
charged above that would be considered unreasonable. If a generator were to
charge 30 cents, for instance, it would have to return 22 cents to the state
in the form of the new tax.
Although the proposal could have the direct effect of knocking down soaring
energy prices, it would also send a message that the state will not tolerate
price gouging, some lawmakers said.
"We have been royally mistreated," said Sen. Jack Scott, D-Altadena, a
co-author of the bill. "And we have allowed a great deal of California money
to leave the state at the expense of ratepayers, taxpayers and businesses."
But energy producers challenged the bill, saying it would simply discourage
companies from building plants in California or from upgrading existing
facilities.
The tax "does nothing to solve the fundamental problem in California, and
that's mainly the lack of supply," said Richard Wheatley, a spokesman for
Houston-based Reliant.
"There is no way, given natural-gas prices today, that we could make any
money under the price caps in this bill," said Carl London, a lobbyist for
InterGen, a Boston-based generator.
In turn, the state's businesses would suffer through sustained power
blackouts because supply would remain low, said Carrie Lee-Coke, general
counsel of the California Manufacturers and Technology Association.
"There is one simple truth, and that is there is too little energy
production," Lee-Coke said, calling Soto's bill the "wrong medicine" for
California.
Although electricity generated in California would be affected, it is unclear
whether the state can legally impose restrictions on power from outside the
state.
Republicans on Monday opposed the plan, citing disincentives for power
companies to boost supply and resultant blackouts. But the bill needs support
only from majority Democrats to pass.
"The economic reality is that the people cannot afford to be gouged any
longer," Soto said.
The Bee's Kevin Yamamura can be reached at (916) 326-5542 or
[email protected].
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Dan Walters: Davis finally generates an energy plan, but will it work?
(Published May 1, 2001)
After months of issuing buzzwords, sound bites and bold predictions that
proved wrong, Gov. Gray Davis finally unveiled Monday what aides said was a
comprehensive plan to shepherd California through the energy crisis.
The thick compendium of charts, tables and narrative, prepared by a financial
consulting firm and peddled to legislators and journalists by a squad of
administration aides, was designed to bolster Davis' case for legislative
approval of a $12.5 billion bond issue. About half the money would repay the
state's beleaguered general fund, which has been drained for power purchases,
and the rest would ease the impact on ratepayers' bills for future power
purchases.
Administration officials insisted it is a realistic scheme based on
reasonable assumptions -- but legislators of both parties remained skeptical
since the governor's previous assumptions and projections about the crisis
had proved to be uniformly wrong. It remains uncertain, therefore, whether
the bond issue bill that the administration says is vital will win
legislative approval this week -- at least in the size Davis is seeking. Even
Democrats are wary.
Legislative analysts zeroed in on a couple of assumptions that are central to
the workability of the plan:
That Californians will severely curtail their energy use this summer in
response to supply shortages, a big ad campaign and sharp price increases.
That the state can buy spot market power this summer at rates far below what
it has been paying and what the power futures market indicates will be the
summer spot price.
If either of those two assumptions is off the mark, the state could face
severe and prolonged blackouts and/or could go billions of dollars deeper
into debt.
Administration aides insisted that their assumptions are reasonable, based on
what is known now about power consumption habits and the availability and
price of power for the summer, when demand usually rises sharply to run air
conditioning.
"This is not a guess," Susan Kennedy, a top Davis aide, told reporters in
response to sharp questioning about the plan's projection of making spot
market power purchases during the summer at an average of $195 per
megawatt-hour, 40 percent less than what the state is paying now. The current
futures market price for California-delivered power in July and August is
about $500 per megawatt-hour, but administration officials insist they have
contracted for much of the summer peak load at lower costs, leaving less
exposure to the spot market.
If it all works as Davis hopes, customers of the three major utilities --
about 70 percent of Californians -- will see a sharp boost in their rates
soon, and that will be enough to finance the $20 billion in power purchase
debts incurred by the utilities and the state so far, plus pay for future
purchases.
The bonds would pick up the costs not covered by the raised rates in the
early years of the scheme, then be paid off later as rates remain high but
power costs go down. A sharp decline in power costs later in the decade is
another major assumption in Davis' plan, based on still another assumption
that massive generating facilities will be built within a few years.
The administration's new set of assumptions replaces suppositions that proved
to be very wrong, such as Davis' oft-expressed belief that power rates would
not have to be raised. And the new scheme also includes elements that Davis
had rejected last year, such as long-term contracting for power and the
ability of rate increases to drive down consumption.
Will it work? Will ratepayers, taxpayers, voters, financiers, legislators and
others be persuaded that Davis finally has his act together and that his
scheme is workable and fair? And will consumer activists be placated by a
plan that assumes ratepayers will shoulder the utilities' massive debts? Stay
tuned. This crisis is still a long way from being a footnote to California
history.
The Bee's Dan Walters can be reached at (916) 321-1195 or [email protected]
.
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Soaring energy bills hurt eateries: Many restaurants in capital area, despite
good patronage, expect to raise menu prices.
By Cathleen Ferraro
Bee Staff Writer
(Published May 1, 2001)
So far, it appears to be the economic slump that wasn't.
Across the region, most restaurateurs say they aren't seeing patrons pull
back on how often they eat out or what they order. That's significant because
dining out is one of the first luxuries people typically eliminate when times
get rough -- or even appear to be slowing down.
At the same time, restaurant owners who say business is good remain anxious
about the relentless energy crisis. They complain about big utility bills
that promise to stay bloated through the summer and about higher operating
costs from vendors now passing along their own inflated energy expenses.
That all adds up to pricier menus.
"I hoped not to increase prices, but there's no slack when basic utilities
are so high now," said Barbara Mikacich, owner of Sacramento's Andiamo
restaurant, which expects to come out with a new menu in June.
With a few exceptions, local bakery cafes, pizza shops, swanky steakhouses
and more are about to raise food prices while trying to cut back on energy
use. Restaurants are taking such steps because they're bracing for more
energy problems and fear that the economic downturn -- while not obvious now
-- could be around the corner.
"We're watching all the little things," said Mark Platt, operating partner at
P.F. Chang's China Bistro in Roseville where sales are still strong. "But
there's no dramatic way for us to save on our use of gas here. We have to use
woks."
No menu price hikes or staff layoffs are in the wind at P.F. Chang's, Platt
said. But the popular restaurant has changed some of its routine tasks to
offset gas and electric utility bills that have climbed from a combined
$12,500 a month when it opened in September to $16,000 now.
So each morning, cooks at P.F. Chang's no longer spend 20 minutes over
gas-fired flames removing carbon from the bottom of nine main woks. Now they
get the job done in five minutes.
Meanwhile, the restaurant's timers have been adjusted so that lights and air
conditioners turn on later in the day and shut off sooner.
Elsewhere in Roseville, Carvers Steaks & Chops -- traditionally a lunchtime
hot spot with developers, bankers and other professionals -- stopped using
its five gas fireplaces.
"We used to run them from 11 a.m. to 11 p.m., six days a week," said general
manager Gary Kowalsky. "But we quit lighting them because they're strictly
for ambience."
Prompting that change is Carvers' combined utility bill. It used to run
$6,000 a month but has jumped to $10,000.
No layoffs are planned at Carvers. Menu price hikes took effect six weeks ago
when the restaurant added 50 cents to $1 to the prices for steak dishes.
At Casey's Bakery & Cafe on Sacramento's Folsom Boulevard, the gas bill has
doubled since February, said owner Casey Hayden. So instead of running
convection ovens "all day long," as he put it, the shop organizes jobs now so
that more pastries and desserts bake at the same time, reducing use of the
cafe's gas ovens.
In mid-March, Casey's reduced its operating hours from six days a week down
to just three, Friday through Sunday, in response to the energy crunch,
stagnant walk-in business during the week and an increase in wholesale
accounts.
Sacramento's Cafe Melange at 24th Street and Second Avenue also slashed hours
due to higher utility costs, closing now at 7 p.m. instead of 11 p.m. Owner
Marrie Morris said she may raise prices in the next month or two.
Heating and cooling the large warehouse environment of Fox & Goose Public
House on R Street has always been challenging. But now the midtown restaurant
is facing a Pacific Gas and Electric bill that topped $1,200 in March -- or
double the amount from a year earlier.
That strain on top of higher produce, dairy and labor costs has prompted Fox
& Goose to print a new menu due out in June. It will include some of the most
popular items from the now-closed Greta's Cafe -- previously operated by Fox
& Goose owner Allyson Dalton -- and several higher priced items.
"About 50 percent of the menu is going up, but nominally, 2 to 3 percent,"
said Dalton.
Sacramento's Original Pete's pizza chain, which is slated to open a Davis
outlet, its sixth, this week, cut off its janitorial service. The cleaning
duties will be handled by staffers. The restaurant also turned off many
lights and now runs just one oven instead of two during slow times. It, too,
plans to raise menu prices soon.
"We will take a very modest increase across the board, about 3 percent," said
founder Steve Presson, who also noted "early warning signs" of an economic
slowdown, including more customers writing bad checks, credit card numbers
being denied and the use of fraudulent cards.
Now with the threat of rolling summer blackouts, restaurateurs are even
edgier because such power outages might discourage dining out, typically more
popular during warm weather and extra daylight hours.
A blackout at Carvers, the Roseville steakhouse, for example, would mean a
shutdown of its gas valves and computer-operated cash register system, said
manager Kowalsky.
"I hope there's some resolution to all of this," he said. "I can't imagine
anything worse than a building full of hungry people who you can't serve."
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Bee Editorial
Empowering the public
Obstacles keep cities out of energy
(Published April 30, 2001)
In a city the size of Davis, how many citizens does it take to kill an
initiative to create a public power agency and remove PG&E as the supplier of
electricity? Only three. That's because, under state law, a five-member
government agency, the county Local Agency Formation Commission (LAFCO),
which operates largely in obscurity, can reject the proposal before it even
gets to the ballot box.
Over the past several decades, laws such as this have made it harder for
communities to leave the domain of the investor-owned utilities and turn
power into a public enterprise. Sacramento's long struggle to create its
municipal utility district (SMUD) began in the 1920s. It took two decades of
fighting a resistant PG&E for SMUD to get into the distribution business. If
today's laws were in effect back then, Sacramentans might still be fighting,
or have given up long ago.
Amid the pile of energy-related legislation in the capitol is one that seeks
to remove these roadblocks to public power. At the heart of SB 23x by Sens.
Nell Soto of Pomona and John Burton of San Francisco are two valuable
reforms. If the private utilities don't manage to kill this bill, the future
will provide interesting choices for communities that are beginning to assess
their energy options.
The first reform in SB 23x would be to prevent LAFCOs from blocking elections
to decide whether to create a public power agency. LAFCOs now hold this veto
power. This is how residents in and around the city of Davis were prevented
last year from voting on a public power initiative on the ballot. They had
thousands of signatures on their initiative petitions. But they didn't have
three votes on LAFCO. SB 23x would give LAFCO an advisory role, so that
voters can take their findings into consideration.
The second reform would change what happens when a newly formed public power
agency decides to purchase the local electric distribution lines from PG&E. A
law passed in the early 1990s gave PG&E considerable leverage in court to
challenge whether it's necessary for the municipal utility to buy its wires.
PG&E seeks to substitute its will for that of the voters. SB 23x returns to
the municipal utility the legal presumption that it can take over the lines,
leaving the courts to settle on the appropriate price. This is the proper
role of the courts.
A new municipal utility doesn't necessarily have to buy the lines and get
into the distribution business. It may simply buy power in bulk and pass on
the savings to its citizens. The first step is for communities to assess
their options. Davis residents are once again mulling secession from PG&E, as
are activists in Fresno, communities within Orange County and San Francisco.
It's too soon to say whether these seeds of a modern-day public power
movement ultimately come to fruition. Yet the mere threat of secession acts
as an appropriate check against the investor-owned utilities. Communities are
not their hostages. SB 23x returns to communities the power of choice.
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Daniel Weintraub: An energy trader says it's time to limit profits
(Published May 1, 2001)
In a sea of angry finger-pointing, name-calling and ridicule, Keith Bailey
stands out as an island of calm, a lonely voice of reason who understands
that a company's long-term self-interest is about more than how much money it
can make today.
Most Californians probably have never heard of Bailey, a Kansas City native
and chief executive officer of Tulsa-based Williams Cos. -- a private energy
trader that has profited handsomely from the state's recent miseries. But
Golden Staters from Gov. Gray Davis on down ought to embrace this Oklahoma
resident. He might be the man who saves our future.
Bailey is proposing that federal electricity regulators place temporary caps
on the profits that he and his competitors may earn between now and fall
2002, when supply and demand will be closer to balance and sanity might
return to the West's energy market.
His rationale is this: To save California's private electricity market, new
power plants are desperately needed. But not enough of those plants will be
built if generators are not confident they will be paid for the product they
already are providing.
Californians, though, don't want to promise payment without knowing they will
be able to afford the bill. Short-term caps on profits, Bailey believes, are
the best way to ease the state's fears, get everybody paid and move on to a
system that works -- for suppliers and customers.
"One of the things we are hoping to do with our proposal is create something
that California can look at and say, 'So long as prices are determined on
this basis, we're prepared to pay,' " Bailey said in an interview. "This is a
mechanism that lets the state say, 'We're not signing a blank check. We don't
know what the price is going to be, but we do know how it will be
determined.' "
Bailey's proposal is different from the limited price caps approved last week
by the Federal Energy Regulatory Commission -- and far better for California.
The federal caps would come with all sorts of strings attached, would kick in
only during emergencies and would be focused on prices, not profits. Bailey
is proposing that all power sold from now through summer 2002 be priced at
the cost of producing it, plus a profit of 15 percent. That's more than a
regulated utility would make but less than most private companies seek, and
far less than electricity providers have been earning of late.
Cynics might note that Bailey is proposing caps only after his company has
squeezed all it can from California. The firm reported last week that profits
doubled in the first quarter of 2001 over a year ago, with pretax income from
its energy services nearly tripling, to $600 million. Much of the 4,000
megawatts of electricity that Williams controls in California is already
committed in long-term contracts -- so Bailey has relatively little to lose
if what remains can only be sold at controlled prices.
But here is at least one measure of Bailey's sincerity: His company still is
owed $252 million for electricity it has provided California. And he's not
insisting that the debt be paid before his proposed profit caps take effect,
or even as part of the deal.
"Clearly there is a past that has to be dealt with," he said. "Whether that
ultimately gets dealt with in bankruptcy court or negotiations with the
parties, it will sort itself out one way or another. Perhaps if we find
prices that work going forward, that could be used as a framework."
Bailey, an engineer by training, says no one should mistake his proposal for
a lack of confidence in free markets. He still firmly believes that a
deregulated energy market would be best for California and the rest of the
West in the long term. He just wants to make sure there is a long term.
Bailey is watching, and listening, to California. He hears talk of seizing
power plants, of turning to a public power system. He describes these ideas
as Draconian and says they would not solve the problem. But he also knows
there is a limit to what Californians -- and their elected leaders -- can
take.
"I recognize we live in a democracy, and lots of things could happen," he
said.
What he is proposing, in effect, is a safety valve. He wants to limit the
market in order to save it.
"This is an extraordinary situation," Bailey said. "We need to help create
some breathing room. ... We all have to work together, and this is the right
thing to do."
Bailey's proposal, made at a conference of energy producers and traders in
Oklahoma last week, was almost lost amid all the focus on the price caps
approved in Washington. But there is still time to give the idea the
attention it deserves. Properly nourished, it could be the breakthrough that
solves this crisis. Davis and others in California should seize the moment.
The Bee's Daniel Weintraub can be reached at (916) 321-1914 or at
[email protected].
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Power Companies Step Up Lobbying
By JULIE TAMAKI and MIGUEL BUSTILLO, Times Staff Writers
?????SACRAMENTO--As California's electricity crisis exploded this year, so
did lobbying by energy companies.
?????Pacific Gas & Electric Co., which has filed for bankruptcy protection,
spent $622,000 lobbying lawmakers and Gov. Gray Davis' administration during
the first three months of the year, according to reports filed with the state
Monday.
?????The reports show that seven energy companies spent more than $1 million
on lobbying as they ramped up their response to the crisis. Houston-based
power producer Reliant Energy, for example, spent nearly $100,000 on lobbying
firms through March 31--almost four times the $25,523 it spent during all of
last year.
?????The documents show that lobbyists for the firms were hard at work trying
to influence a horde of energy-related measures, from legislation to set new
rates for small power producers to a bill that put California in the
electricity purchasing business.
?????PG&E spokesman Ron Low said his company racked up hundreds of thousands
of dollars in expenses in its unsuccessful effort to reach an agreement with
the state on the purchase of its transmission lines. An unprecedented number
of energy-related bills added to PG&E's need to hire lobbyists, Low said.
?????"During the first quarter this year, more than 350 bills were introduced
in the Legislature that deal with the energy industry," Low said. "Almost all
those bills affected our customers and required staff analysis, testimony
before legislative committees, and questions to be answered for legislators
and their staff."
?????Sempra Energy, the parent firm of San Diego Gas & Electric, spent
$192,000 lobbying lawmakers in Sacramento and regulators at the Public
Utilities Commission, roughly half of what it spent all of last year.
?????The utility also made campaign contributions to political parties and
Sacramento politicians, giving $250 to Lt. Gov. Cruz Bustamante, $750 each to
Assembly members Keith Richman (R-Northridge) and George Runner Jr.
(R-Lancaster) and $1,000 to Sen. Kevin Murray (D-Culver City), among others.
?????A lobbying report for the parent company of Southern California Edison
was not available Monday evening. The reports were required to be filed both
electronically and by mail, postmarked by midnight Monday.
?????Electricity merchants and generators also boosted their spending. El
Paso Energy Corp., which owns one of the main natural gas pipelines into
California, spent nearly $22,000. It reported lobbying Davis' office and the
California Energy Commission.
?????Lobbyists hired by the company, according to the report, also spent $607
on dinners held in January and February with five lawmakers and an Assembly
staff member to discuss energy-related issues.
?????Assemblyman Roderick Wright, the Los Angeles Democrat who chairs the
Assembly's Utilities and Commerce Committee, dined with a lobbyist
representing El Paso on Feb. 21 at the Esquire Grill, a Sacramento
restaurant, according to the report. Assemblyman Joe Canciamilla
(D-Pittsburg), who heads a subcommittee exploring natural gas issues, also
ate at the Esquire on El Paso's tab that night.
?????The Houston-based power firm Dynegy Inc. spent $32,261 on lobbying
through March 31, compared to $24,000 during all of last year. Another
Houston energy company, electricity marketer Enron Corp., spent $66,994.
?????Duke Energy is among the firms paying top dollar for Sacramento
lobbyists as it seeks to build power plants in California to capitalize on
the state's energy shortage. The company reported spending more than $62,000
on lobbying through March 31--more than it spent all of last year.
?????"We would be remiss in not ensuring that our voice is heard in
Sacramento," said Duke Energy spokesman Tom Williams, adding that his firm's
proposed Moss Landing power plant would provide "30% of the new generation
[of electricity] for the whole state of California in 2002."
?????"They're [lobbyists] not speaking for us, he added. "They're helping us
know exactly who to speak with to make sure we're appropriately heard--and
frankly, to ensure that we can get our power plants built."
---
?????Times staff writer Nancy Vogel contributed to this story.
Copyright 2001 Los Angeles Times
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Power Marketer Ordered by FERC to Refund $8 Million
Energy: Williams Energy agrees to pay but admits no wrongdoing in taking
plants offline.
By NANCY VOGEL and ROBERT J. LOPEZ, Times Staff Writers
?????In the first action of its kind during the California energy crisis,
federal regulators have ordered an out-of-state electricity marketer to
refund $8 million in connection with allegations that plants were improperly
shut down to hike power prices.
?????Tulsa-based Williams Energy Marketing & Trading has agreed to pay the
refund under an order issued Monday by the Federal Energy Regulatory
Commission.
?????The firm, which admitted no wrongdoing in the settlement agreement, was
probed for allegedly forcing utilities to pay higher prices by taking key
generating units in Long Beach and Huntington Beach offline in April and May
of last year.
?????Paula Hall-Collins, a Williams spokeswoman, said her company settled to
end the matter. She said that the company would have been exonerated had it
pursued the case.
?????"We decided to go ahead with the settlement in order to put it behind us
and move forward to more productive matters concerning California power
issues," she said.
?????While federal investigations of alleged overcharges by several firms are
continuing, Monday's order marked the first time a major power merchant has
been forced to pay back earnings since California forged into electricity
deregulation in 1996.
?????Critics and the state's independent grid operator have accused power
sellers of unjustly ratcheting up electricity prices in part by taking plants
offline.
?????In the case of Williams, the federal energy panel investigated the
shutdown of power plants that were obligated to provide electricity to the
state.
?????Desperate for power, California's grid operator had to turn to another
provider and pay as much $750 per megawatt-hour--more than 10 times the
normal price. The $8-million refund will go back to the grid operator.
?????Williams markets power produced at California plants owned by AES Corp.
of Arlington, Va.
?????Federal investigators probed the actions of both Williams and AES, but
the refund order affects only Williams. Initially, FERC had sought a refund
of about $10.8 million, but settled for $8 million in the compromise
agreement.
?????AES spokesman Aaron Thomas said the power plants in question were shut
down because of mechanical problems. He noted that his firm derived no profit
from the replacement power sold by Williams.
?????"We literally get paid to convert Williams' gas into Williams'
electricity, which they then sell into the marketplace," Thomas said. "We're
not paying any fines, and we didn't do anything wrong."
---
?????Times staff writers Rich Connell and Richard Simon contributed to this
story.
Copyright 2001 Los Angeles Times
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Davis Turns to Bankruptcy Court for Help in Plan to Buy Power Grid
Utility: He seeks support from panel representing creditors of PG&E. The firm
has rebuffed state's offers.
By DAN MORAIN and RICHARD SIMON, Times Staff Writers
?????SAN FRANCISCO--Foiled in his first attempt to buy Pacific Gas &
Electric's transmission grid, Gov. Gray Davis said Monday that he has tried a
new tactic: bypassing the company and attempting to build support for the
deal in Bankruptcy Court.
?????Davis' plan to buy the grid appeared to have ended disastrously last
month when the giant utility filed for bankruptcy protection. But Davis said
his advisors now are trying to sell the idea to a committee of PG&E creditors
that hold a stake in the utility's Chapter 11 proceeding.
?????The creditors committee, representing the hundreds of companies owed
money by PG&E, does not by itself hold the power to accept or reject the
deal, which Davis sees as a key to his plan to restructure the state's
crippled electricity system. But the committee will play an important role in
any reorganization plan that is ultimately hammered out in U.S. Bankruptcy
Court.
?????Given that power, Davis sent advisors to brief the committee last
Wednesday. The advisors told the committee about the deal they struck with
Southern California Edison to buy its share of the statewide transmission
grid, and the similar deal that PG&E rejected.
?????"I'm not saying they embraced it entirely," Davis said, after speaking
at a conference of technology entrepreneurs put on by the J.P. Morgan
investment bank. "But they liked parts of it, asked good questions, and I
thought it was a good beginning."
?????Paul Aronzon, the lead lawyer for the creditors committee, stressed that
the meeting with Davis' advisors would not lead directly to a deal. The
governor's representatives "did not come out and say, 'Would you guys sell us
the transmission grid?' " he said. Rather, Aronzon said, the advisors simply
brought the creditors up to speed on what Davis has put on the table.
?????Davis has offered more than $7 billion to buy the transmission systems
of Edison, San Diego Gas & Electric and PG&E. So far, only Edison has
accepted the deal. The cash infusion would help the utilities restructure
their debts, and ultimately relieve the state of the need to continue buying
electricity on their behalf.
?????The Davis administration made public Monday its most detailed breakdown
yet on the costs it expects to incur purchasing electricity over the next
years.
?????However, the extra information failed to satisfy Republican lawmakers,
who are holding up legislation needed to repay the state budget for the
billions already spent on electricity.
?????California will spend $15 billion buying power this year, according to
projections by Davis' advisors.
?????But that total will drop to $9 billion next year and $7 billion the next
as long-term electricity contracts, energy conservation efforts and new power
supplies combine to lower the state's costs.
?????With money from higher electric rates and a planned $12.5-billion bond,
the state should be able to cover the costs of power and operate at a surplus
starting in November 2002, the administration projected.
?????Several Republicans took note of the date: It is the month of the 2002
gubernatorial election, when Davis is expected to seek a second term.
?????The figures were based on a dizzying number of assumptions about the
state's energy future. The projections assume, for example, that Californians
will reduce energy consumption by 7%, and that 90% of the state's alternative
energy producers will soon generate electricity again. Now only about 65% are
online.
?????Davis administration officials defended the figures, saying that they
were conservative.
?????The reaction to the figures reflects a growing rift between Democrats
and Republicans over how best to solve the state's problems. Efforts have
been lurching unsteadily on several fronts, including the courts, the state
Legislature and Congress, with considerable political head-butting taking
place in the last two.
?????In Washington today, a key congressional panel is expected to take up
emergency legislation intended to help California, although Davis and other
Democrats have criticized the effort as useless.
?????The bill's 19 provisions would, among other things, provide federal aid
to relieve a bottleneck in the state's transmission system, permit governors
to obtain temporary waivers of environmental rules to boost power supplies,
and direct federal disaster officials to help California prepare for
blackouts.
?????A spokesman for Davis said the Republican-drafted legislation offers "a
lot of things we don't need, and fails to address the one thing we do need,"
namely firm price controls on wholesale electricity sales.
?????Democrats and Republicans have strong, fundamental disagreements about
how best to solve the crisis, with Democrats supporting price controls, if
only temporarily, and many Republicans, including President Bush, opposed to
tampering with the market.
?????Several Democrats who attended a White House ceremony Monday to mark
Bush's first 100 days in office spoke briefly to the president about the
energy situation.
?????"He was not very sympathetic," said Rep. Bob Filner (D-San Diego), an
advocate of price controls. "They have their minds pretty well made up."
?????In one effort to seize the initiative, a divided state Senate
Appropriations Committee approved a bill Monday that would impose a windfall
profits tax on electricity sellers who gouge California consumers. Revenue
from the tax would flow back to Californians in the form of a credit on their
state income taxes, starting next April 15.
?????"Our backs are to the wall," said one sponsor of the bill, Sen. Jack
Scott (D-Altadena). "We believe that this is one time when we can stand up to
an avaricious energy generator and say, 'No more.' "
?????On a 7-3 vote, Democrats on the committee voted for the bill, SB1X, and
Republicans lined up against it. The measure moved to the Senate floor, where
it will require only a simple majority of 21 votes and is expected to pass.
?????Davis has said he is open to signing a windfall profits bill, but he has
not publicly lobbied for its passage.
?????Also Monday, legislation was introduced in the Assembly to bolster
natural gas supplies in the state. Tight supplies have led to soaring costs
for natural gas, the fuel most commonly used to generate electricity in
California.
---
?????Morain reported from San Francisco and Simon from Washington. Times
staff writers Miguel Bustillo, Carl Ingram and Julie Tamaki in Sacramento,
Tim Reiterman in San Francisco and Mitchell Landsberg in Los Angeles
contributed to this story.
------------------------------------------------------------------------------
----------------------------------------------
Feds want surcharge to pay utilities' debts
THE PLAN: Additional rate boost likely, cash would go to power suppliers
Carolyn Said, Chronicle Staff Writer
Tuesday, May 1, 2001
,2001 San Francisco Chronicle
URL:
http://www.sfgate.com/cgi-bin/article.cgi?file=/c/a/2001/05/01/MN9985.DTL
Federal energy regulators have proposed a surcharge on wholesale electricity
sales in California to compensate generating companies, angering state
officials who say the idea amounts to gouging consumers.
The Federal Energy Regulatory Commission suggested collecting the money to
reimburse electricity suppliers who have debts from Pacific Gas and Electric
Co., Southern California Edison and San Diego Gas & Electric Co. Power
companies accrued some $6 billion in unpaid bills from California's
struggling utilities in late 2000 and early this year, until the state
stepped in to take over the purchasing of power.
"Under the pretense of helping California, (FERC) is proposing to steal
additional money from California ratepayers to pad the pockets of the greedy
energy companies," Gov. Gray Davis said in a statement. "FERC does not care
one wit about the ratepayer. Their plan is a total capitulation to the energy
companies."
Sen. Dianne Feinstein, D-Calif., who has been an outspoken critic of FERC's
policies in California, said the surcharge would "ensure that power
generators get paid fully for their price gouging. That is outrageous and
will further alienate Californians."
The surcharge presumably would be levied on the California Department of
Water Resources, which, as the state's purchasing agent, has already spent
more than $5 billion on power since January. The DWR's costs, in turn, are
likely to be borne by California's consumers and taxpayers.
FERC would require the California Independent System Operator, which runs the
state's power grid, to collect the surcharge. But state regulators could
challenge the surcharge.
"We have 30 days to comment to FERC and are considering our options," said
Sean Gallagher, state counsel at the California Public Utilities Commission.
"If (FERC's) concern is public policy and maintaining just and reasonable
prices for consumers, I don't quite understand why they would get into the
middle of a legal wrangle about past bills' getting paid," said Severin
Borenstein, director of the University of California Energy Institute in
Berkeley. "It is true the firms would like to get paid. I'm not sure what
FERC has to do with helping them collect their money."
A 'GOUGING TAX'
Consumer advocates characterized the surcharge as a "gouging tax" that
underscores the Bush administration's close ties to energy firms, many of
which are based in President Bush's home state of Texas.
"This is evidence that FERC and the administration are more interested in
protecting the energy industry than the consumers or taxpayers of
California," said Doug Heller, a consumer advocate with the Los Angeles-based
Foundation for Taxpayer and Consumer Rights. "It's back-billing us to pay
prices that were unjust and unreasonable per the FERC's own analysis."
FERC's Curt Hebert, a Mississippi Republican whom President Bush appointed
chairman of the commission, was behind the surcharge proposal, which he told
the Wall Street Journal was a way "to stabilize the market." Hebert did not
return calls for comment.
The surcharge was proposed in FERC's 39-page "mitigation" plan to alleviate
wholesale electricity prices in California during power emergencies; the plan
was released last week. FERC said it would accept public comment on the
proposal for 30 days, after which it would decide whether to implement it.
COMPLICATED ISSUES
Even the power industry, the presumptive beneficiary of the surcharge, did
not express whole-hearted support for it.
"I'm glad they brought it up," said Gary Ackerman, executive director of the
Western Power Trading Forum, which represents all major buyers and sellers of
wholesale electricity in California. "But it skirts the issue of what's state
regulated and what's federally regulated. I'm not sure how federal regulators
can pass a charge on wholesale costs which then ends up on consumers, without
the state saying it's OK."
Some of the proposal's wording is unclear. It discusses, for example, whether
the surcharge money "should cover all past-due amounts or only future unpaid
bills starting from the date the plan is begun."
The reference to "future unpaid bills" is puzzling since, with the state of
California picking up the tab, electricity suppliers no longer are
accumulating unpaid bills from the utilities.
"That could become a self-fulfilling prophecy; we don't want to go there,"
Ackerman said about the idea of "future unpaid bills."
The FERC proposal also implies that electricity generators have reduced
production in California, an allegation the power companies themselves deny.
FERC asked for comments on whether the surcharge "would help to increase
production by creating a greater assurance that generators will be paid."
E-mail Carolyn Said at [email protected].
,2001 San Francisco Chronicle ? Page?A - 1
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Lawmakers offer bills aimed at cutting natural gas prices
JENNIFER COLEMAN, Associated Press Writer
Tuesday, May 1, 2001
,2001 Associated Press
URL:
http://www.sfgate.com/cgi-bin/article.cgi?file=/news/archive/2001/05/01/state0
949EDT0128.DTL&type=news
(05-01) 06:49 PDT SACRAMENTO (AP) -- Gov. Gray Davis is relying on stringent
conservation measures, increased electricity supply and quick Legislative
authority to proceed with a $12.5 billion revenue bond issue to head off
blackouts this summer.
Davis administration officials briefed lawmakers Monday on the governor's
plan to rescue Southern California Edison by buying the utility's
transmission lines.
The extra financial details Davis' representatives gave Assembly Republicans
include forecasts of the Department of Water Resources' summer power
purchases -- the same figures the state will use to find buyers for $12.5
billion in bonds to pay for future power.
Those forecasts, some Republicans said, count on too many things falling into
place, including the assumption that all of the state's financially troubled
alternative energy producers will be online.
Though energy analysts have predicted skyrocketing energy costs for summer --
up to $1,500 per megawatt hour -- the governor's plan calculates an average
cost of $195 per megawatt hour over June, July and August.
That's because DWR cut long-term contracts covering a major part of the
electricity needed during peak times, said Ron Nichols, senior managing
director for Navigant Consulting Inc.
Long-term contracts and conservation will minimize the effect of the expected
high spot prices, Nichols said.
In essence, Davis aides, much of the conservation will be spurred by sticker
shock felt by consumers when they get their higher rates on their June bills.
PG&E customers will see a 34 percent increase, Southern California Edison's
will jump 32 and San Diego Gas and Electric rates will jump 44 percent.
Davis' consultants predict the state can conserve up to 7,234 megawatts
during peak demand -- about 16 percent of a 45,000 megawatt load that summer
weather can bring on. One megawatt is roughly enough power for 750 homes.
Much of that conservation, 2,484 megawatts, will come from three different
conservation programs through the California Independent System Operator,
keeper of the state's power grid.
Davis' ''20/20'' conservation plan is expected to cut another 2,200 megawatts
of demand. The rest of the cuts come from the sticker shock of higher
consumer rates and by estimating how much less power Californians are using
this year compared to last year.
``If we're wrong, there are certain reserves built in,'' said Susan Kennedy,
deputy chief of staff and secretary of cabinet. Either the state borrows more
or there will be blackouts, she added, and if the price of power goes higher
than expectations, the state won't be able to afford it.
By the end of 2002, Davis estimates, DWR will spend $26.9 billion to buy
power for customers of the three financially ailing utilities. Of that, $12.5
billion will be paid for by revenue bonds that will add up to one cent per
kilowatt hour to customer bills for 15 years.
The Legislature approved the revenue bonds based on a formula that would set
the amount of the issue. Now Davis' representatives say it's urgent that the
Legislature approve a bill with a firm cap so they could begin the bond sale.
``We need the unambiguous authority to sell bonds. We need it right now. We
cannot afford any delays,'' Kennedy said.
A bill putting a $10 billion limit on the bonds stalled in the Assembly last
week after Republicans refused to vote for it until they received more
details about Davis' power buys and long-term contracts.
Republicans wondered about the ability of the alternative generators to be
online, a sentiment shared by the industry. Currently, about one-third are
off-line now because PG&E and Edison owe them more than $1 billion.
The Public Utilities Commission ordered the utilities to pay those generators
every other week starting April 1, but the large debts have the generators
fighting to stay open, said Jan Smutny-Jones, executive director of the
Independent Energy Producers.
Davis' predictions aren't rosy, but realistic, said Joseph Fichera, a
financial adviser for the governor. ``It minimizes the risk of blackouts, but
you can never eliminate it.''
Also Monday, an Assembly subcommittee unveiled four bills Monday designed to
increase supplies of natural gas, including streamlining approvals for gas
storage and new pipelines.
After conducting hearings on the market, the subcommittee is recommending the
state streamline the PUC's process to approve underground natural gas storage
facilities and new pipelines, allow lower-grade California natural gas to be
used by industrial users and reform tariffs to see if they discourage
investments in a variety of natural gas-related ventures.
Meanwhile, the state remained free of power alerts Tuesday morning as
reserves stayed above 7 percent.
On the Net:
The bill numbers are: AB78x by Canciamilla; AB73x by Canciamilla and
Dickerson; AB23x, by Assemblyman Dennis Cardoza, D-Atwater, and Assemblywoman
Barbara Matthews, D-Tracy; and AB42x, by Diaz.
Read the bills at www.assembly.ca.gov
,2001 Associated Press ?
------------------------------------------------------------------------------
---------------------------------------------------------------
Developments in California's energy crisis
The Associated Press
Tuesday, May 1, 2001
,2001 Associated Press
URL:
http://www.sfgate.com/cgi-bin/article.cgi?file=/news/archive/2001/05/01/state0
946EDT0127.DTL&type=news
, , -- (05-01) 06:46 PDT Developments in California's energy crisis:
TUESDAY:< ?-- An Assembly electricity oversight committee releases report on its ?investigation of alleged natural gas price and supply manipulation. ?-- The state remains free of power alerts as electricity reserves stay above ?7 percent. ?MONDAY:<
-- Gov. Gray Davis' staff briefs Assembly Republicans on the plan to purchase
Southern California Edison's transmission lines. The governor estimates that
during peak hours this summer, Californians can conserve more than 7,000
megawatts. That's enough power for more than 5 million homes. Davis' advisers
say the Legislature needs to quickly approve a bill that would let the state
issue bonds to buy power for customers of Pacific Gas and Electric, San Diego
Gas and Electric and Edison. The bonds would also repay the general fund for
the more than $5 billion the state has already spent on power.
-- PG&E's transmission lines could still be bought by the state despite the
utility seeking bankruptcy protection when an earlier deal with state
negotiators fell through, Davis says. Davis tells reporters that a creditors
committee of businesses owed money by PG&E asked the state for a briefing on
talks to buy San Diego Gas and Electric Co.'s transmission lines. Davis says
he believes there is still some possibility of buying PG&E's lines.
-- Williams Energy agrees to pay $8 million to settle charges by federal
regulators that the company withheld power to drive up prices.
``We decided to settle to put this behind us and to put our full attention
toward more productive matters in relation to California versus going through
a costly and long hearing process,'' said Williams spokeswoman Paula
Hall-Collins. She said Williams ``is confident that a full hearing of the
facts would have exonerated us entirely.''
-- Members of the Assembly Subcommittee on Natural Gas Costs and Availability
unveil legislation to cut natural gas prices.
-- The state Assembly approves a bill that lets a private energy company
purchase a shuttered PG&E power plant. The North American Power Group plans
to reopen the Kern Power Plant that PG&E shut down in 1985. Once renovated,
it will provide enough electricity about 180,000 homes. The bill moves to the
Senate.
-- The state remains free of power alerts as electricity reserves stay above
7 percent.
<
WHAT'S NEXT:<
-- Davis' representatives continue negotiating with Sempra, the parent
company of San Diego Gas and Electric Co., to buy the utility's transmission
lines.
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 the state's electricity deregulation law bars them from
passing on to consumers. PG&E, saying it hasn't received the help it needs
from regulators or state lawmakers, filed for federal bankruptcy protection
April 6.
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. The state is also buying power for a third investor-owned
utility, San Diego Gas & Electric, which is in better financial shape than
much larger Edison and PG&E but also struggling with high wholesale power
costs.
The Public Utilities Commission has raised rates as much as 46 percent to
help finance the state's multibillion-dollar power buys.
,2001 Associated Press ?
------------------------------------------------------------------------------
---------------------------------------------------------------
Second try for tax cut in Oakland
Smaller utility levy likely after Brown veto
Tyche Hendricks, Chronicle Staff Writer
Tuesday, May 1, 2001
,2001 San Francisco Chronicle
URL:
http://www.sfgate.com/cgi-bin/article.cgi?file=/chronicle/archive/2001/05/01/M
NE216500.DTL&type=news
Oakland -- The Oakland City Council is set to scale back plans for a
six-month cut in the city's utility users tax in the face of a first-ever
veto by Mayor Jerry Brown, who said the city may not be able to afford the
cut.
A week after the council voted 5 to 2 to give residents relief on their
skyrocketing gas and electric bills by reducing the tax the city imposes,
council members said yesterday that they will reconsider the plan and may
give a break only to the poorest Oaklanders.
City Council President Ignacio De La Fuente, the author of the tax cut
proposal, said he plans to revise the measure at tonight's council meeting.
Under the revision, low-income residents would be exempt from the tax, which
could cost the city an estimated $300,000.
"The mayor has some legitimate concerns," De La Fuente said. He said he would
postpone consideration of a cut for all residents until after the state has
approved its budget for the coming year.
The council's latest move came after Brown last week invoked his authority to
block legislation, a power he was granted under the 1998 strong-mayor
ordinance that he wrote and voters approved.
In the letter, Brown said the six-month tax break would take $1.6 million
from the city coffers and could be construed as a permanent tax cut, which
under state Proposition 218 would require approval by two-thirds of the
voters to reinstate.
"In addition," the mayor wrote, "the current budget hemorrhaging in
Sacramento threatens to reduce expected state revenues to the city on which
the current city budget is based." Brown said he would support relief for
those least able to pay.
The council had planned to temporarily reduce the city's utility tax from 7.
5 percent to roughly 6 percent for most residents and eliminate it entirely
for low-income households that qualify for PG&E's assistance program.
After the council approved the tax cut last week, city leaders heard a report
from the city manager's budget analyst confirming that state money for
California's cities might be reduced for the next fiscal year.
"We all wanted to do this," said Councilwoman Jane Brunner, referring to
herself and four other council members, including De La Fuente, who voted for
the utility tax relief.
"But they are saying that the (state's) energy costs may dip into some of the
regular general fund money (for city and county governments). And that may be
very significant."
Councilwoman Nancy Nadel, who voted against the tax cut along with Dick
Spees, said tax relief for low-income residents would cost the city roughly
$300,000, which she called a more reasonable figure. The eighth council
position was vacant last week but will be filled tonight when council member-
elect Moses Mayne is sworn in.
Brown's action marks the first time he has exercised his law-blocking power
under Measure X, which allows the mayor to send new legislation back to the
council for reconsideration if it is passed with fewer than six votes.
If the council cannot muster six votes on its second review, the law would
not take effect.
Russo said the fact that Brown has not used his veto power until now, more
than halfway into his four-year term, shows that he is able to work with the
council.
"I think it's significant that this is first time (he's used the veto)," said
Russo. "It has been 2 1/2 years of some pretty controversial and contentious
stuff."
E-mail Tyche Hendricks at [email protected].
,2001 San Francisco Chronicle ? Page?A - 13
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Feds want surcharge to pay utilities' debts
THE PLAN: Additional rate boost likely, cash would go to power suppliers
Carolyn Said, Chronicle Staff Writer
Tuesday, May 1, 2001
,2001 San Francisco Chronicle
URL:
http://www.sfgate.com/cgi-bin/article.cgi?file=/chronicle/archive/2001/05/01/M
N9985.DTL&type=news
Federal energy regulators have proposed a surcharge on wholesale electricity
sales in California to compensate generating companies, angering state
officials who say the idea amounts to gouging consumers.
The Federal Energy Regulatory Commission suggested collecting the money to
reimburse electricity suppliers who have debts from Pacific Gas and Electric
Co., Southern California Edison and San Diego Gas & Electric Co. Power
companies accrued some $6 billion in unpaid bills from California's
struggling utilities in late 2000 and early this year, until the state
stepped in to take over the purchasing of power.
"Under the pretense of helping California, (FERC) is proposing to steal
additional money from California ratepayers to pad the pockets of the greedy
energy companies," Gov. Gray Davis said in a statement. "FERC does not care
one wit about the ratepayer. Their plan is a total capitulation to the energy
companies."
Sen. Dianne Feinstein, D-Calif., who has been an outspoken critic of FERC's
policies in California, said the surcharge would "ensure that power
generators get paid fully for their price gouging. That is outrageous and
will further alienate Californians."
The surcharge presumably would be levied on the California Department of
Water Resources, which, as the state's purchasing agent, has already spent
more than $5 billion on power since January. The DWR's costs, in turn, are
likely to be borne by California's consumers and taxpayers.
FERC would require the California Independent System Operator, which runs the
state's power grid, to collect the surcharge. But state regulators could
challenge the surcharge.
"We have 30 days to comment to FERC and are considering our options," said
Sean Gallagher, state counsel at the California Public Utilities Commission.
"If (FERC's) concern is public policy and maintaining just and reasonable
prices for consumers, I don't quite understand why they would get into the
middle of a legal wrangle about past bills' getting paid," said Severin
Borenstein, director of the University of California Energy Institute in
Berkeley. "It is true the firms would like to get paid. I'm not sure what
FERC has to do with helping them collect their money."
A 'GOUGING TAX'
Consumer advocates characterized the surcharge as a "gouging tax" that
underscores the Bush administration's close ties to energy firms, many of
which are based in President Bush's home state of Texas.
"This is evidence that FERC and the administration are more interested in
protecting the energy industry than the consumers or taxpayers of
California," said Doug Heller, a consumer advocate with the Los Angeles-based
Foundation for Taxpayer and Consumer Rights. "It's back-billing us to pay
prices that were unjust and unreasonable per the FERC's own analysis."
FERC's Curt Hebert, a Mississippi Republican whom President Bush appointed
chairman of the commission, was behind the surcharge proposal, which he told
the Wall Street Journal was a way "to stabilize the market." Hebert did not
return calls for comment.
The surcharge was proposed in FERC's 39-page "mitigation" plan to alleviate
wholesale electricity prices in California during power emergencies; the plan
was released last week. FERC said it would accept public comment on the
proposal for 30 days, after which it would decide whether to implement it.
COMPLICATED ISSUES
Even the power industry, the presumptive beneficiary of the surcharge, did
not express whole-hearted support for it.
"I'm glad they brought it up," said Gary Ackerman, executive director of the
Western Power Trading Forum, which represents all major buyers and sellers of
wholesale electricity in California. "But it skirts the issue of what's state
regulated and what's federally regulated. I'm not sure how federal regulators
can pass a charge on wholesale costs which then ends up on consumers, without
the state saying it's OK."
Some of the proposal's wording is unclear. It discusses, for example, whether
the surcharge money "should cover all past-due amounts or only future unpaid
bills starting from the date the plan is begun."
The reference to "future unpaid bills" is puzzling since, with the state of
California picking up the tab, electricity suppliers no longer are
accumulating unpaid bills from the utilities.
"That could become a self-fulfilling prophecy; we don't want to go there,"
Ackerman said about the idea of "future unpaid bills."
The FERC proposal also implies that electricity generators have reduced
production in California, an allegation the power companies themselves deny.
FERC asked for comments on whether the surcharge "would help to increase
production by creating a greater assurance that generators will be paid."
E-mail Carolyn Said at [email protected].
,2001 San Francisco Chronicle ? Page?A - 1
------------------------------------------------------------------------------
---------------------------------------------------------------
Warning of a summer power 'Armageddon'
Davis aide paints dire scenario in push for bonds to buy power
Lynda Gledhill, Greg Lucas, Chronicle Sacramento Bureau
Tuesday, May 1, 2001
,2001 San Francisco Chronicle
URL:
http://www.sfgate.com/cgi-bin/article.cgi?file=/chronicle/archive/2001/05/01/M
N192706.DTL&type=news
Sacramento -- Trying to drum up support to issue $12.5 billion in bonds to
buy power, a top adviser to Gov. Gray Davis warned lawmakers yesterday of
"Armageddon" this summer if key assumptions on energy generation and
conservation fail to materialize.
Presenting a 67-page document to lawmakers, Davis' top energy consultants
said numerous assumptions -- such as increased conservation and more
alternative generating facilities returning to full operation -- must pan
out.
Without that, Davis' Cabinet secretary, Susan Kennedy, said an "Armageddon
scenario" would take place, according to numerous lawmakers in the meeting.
That could include more blackouts or additional borrowing, Kennedy said in a
briefing later with reporters. "Everything has to fall in place."
But one key assumption was immediately blasted by an energy industry official
as "completely unrealistic."
The administration document forecasts that 90 percent of the state's
alternative generators will be back on line by June. About one-third are
currently not operating because they are not being paid by California's debt-
ridden utilities.
"That is complete lunacy at this point," said Jerry Bloom, a spokesman for
the California Cogeneration Council. "The assumption simply does not reflect
the reality of the market. It shows once again that the governor is not
listening."
Among the other assumptions is a 7 percent conservation rate and the approval
of the deal between the state and Southern California Edison Co. for the
purchase of the utility's transmission lines. Davis has set a target of
conserving 10 percent.
In San Francisco yesterday, Davis told a high-tech business conference that
the state will have to walk a tightrope to get through the summer.
"We are going to have to set the Guinness Book of Records in this state in
order to avoid disruptions this summer," he said.
State Treasurer Phil Angelides said the assumptions were "fair and rational"
but warned many of the assumptions are beyond the state's control.
"The biggest threat to making this plan work is if generators take prices
from the current level, which is horrendous, to obscenely horrendous," he
said after meeting with Assembly Republicans for an hour on the proposed bond
sale.
The dire scenarios were used by the administration officials to convince
Assembly Republicans to approve a bond authorization, which is scheduled to
come up for a vote on Thursday.
GOP members balked at approving the huge bond issuance without further
details from the administration. But yesterday's information simply raised
more questions in many minds.
"It's kind of like peeling back an onion -- as you peel something back you
find something else out," said Assemblyman George Runner, R-Lancaster.
Assemblyman Tony Strickland, R-Thousand Oaks, said Republicans want to be
sure there won't be a continuing need to issue larger amounts of bonds in the
future.
"The governor's office is asking us to approve the biggest bond in American
history, and we're just supposed to trust them on a lot of this stuff," he
said. "What happens if the assumptions don't happen? Do we need another $7
billion or $10 billion in loans? Is the existing rate structure enough or
will they ask for more? We want to know."
Republican votes are needed to approve the bond issuing authority on an
urgency basis.
The current bill only allows for $10 billion, but the administration now says
it needs $12.5 billion. Kennedy said another request for more financing will
be made later to close that gap.
The predictions use the rate increase proposed by Davis, which averages about
37 percent. His rate increase would pay off not only the revenue bond issued
by the state, but also a $8 billion bond issued by the utilities to pay off
some of their back debt.
Angelides has pressed for the bonding authority because the commitments for
short-term bridge loans -- which would provide the state with money during
the several weeks it would take to issue the bonds -- expire on May 8.
However, most of the GOP members of the Assembly said they have not been
convinced of the need for the bridge loans.
Runner said normal budgetary borrowing will keep the general fund whole until
the bonds can be issued. Republicans believe the emphasis on the short term
funding is to allow Davis to present a rosier budget later this month.
Tim Gage, Davis' director of finance, said the authorization is needed
immediately to give sellers confidence that the state is credit-worthy and
can continue to purchase power. Currently, the state is being charged a
credit premium, he said.
"I'm deeply concerned if the bridge loan, the first step, doesn't come
together it will do harm getting the energy bond to the market," Angelides
said.
Meanwhile, the state Public Utilities Commission yesterday accused Pacific
Gas & Electric Co. of trying to use bankruptcy to escape state regulation and
raise rates drastically.
The PUC asked a federal bankruptcy judge to dismiss PG&E's challenge to
accounting changes ordered by the state commission on March 27 that would
make it harder for the utility to pass along to customers its $8.9 billion
debt for electricity purchases.
Chronicle staff writers Bob Egelko and Tanya Schevitz contributed to this
story.
E-mail Lynda Gledhill at [email protected] and Greg Lucas at
[email protected].
,2001 San Francisco Chronicle ? Page?A - 3
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Cheney rejects conservation
Posted at 11:03 p.m. PDT Monday, April 30, 2001
BY JIM PUZZANGHERA
Mercury News Washington Bureau
WASHINGTON -- The energy woes of California and the nation cannot be solved
with price controls or conservation, but only by increasing the country's
supply of oil and natural gas and using more coal and nuclear power, Vice
President Dick Cheney said Monday.
Cheney was laying the groundwork for the announcement later this month of a
major energy proposal. The vice president argued that without adopting the
Bush administration plan, California's energy crisis may spread to the rest
of the country.
``A few years ago, many people had never heard the term `rolling blackout.'
Now, everybody in California knows the term all too well. And the rest of
America is starting to wonder when these rolling blackouts might roll over
them,'' Cheney said in a Toronto speech to the Associated Press.
``Without a clear, coherent energy strategy for the nation, all Americans
could one day go through what Californians are experiencing now, or worse,''
warned Cheney, who leads the administration's high-level energy task force.
Cheney's speech was notable more for its tone than its substance. Much of the
detail he offered is similar to what Energy Secretary Spencer Abraham laid
out last month. He reiterated the need for more than 1,300 new power plants
and 38,000 miles of additional natural gas pipeline. Cheney also repeated an
administration claim that the area to be opened for drilling in Alaska's
environmentally sensitive Arctic National Wildlife Refuge would be smaller
than Washington's Dulles airport.
But Cheney, who ran a Texas company that provided services to the energy
industry, used blunt language to dismiss the idea that conservation could be
a major solution to the problem.
``The aim here is efficiency, not austerity,'' Cheney said, rejecting the
notion that Americans should be told to ``do more with less.''
``Conservation may be a sign of personal virtue, but it is not a sufficient
basis for a sound, comprehensive energy policy,'' he said.
Contrast with Gov. Davis
Large-scale conservation is one of California Gov. Gray Davis' efforts for
getting through this summer without extensive blackouts. Earlier this
monthLast month, Davis approved an $850 million energy conservation plan that
offers incentives to try to shave at least 2,000 megawatts during peak hours
from the state's electricity usage.
Davis on Monday blasted condemned Bush and Cheney for belittling conservation
programs.
``It's clear that the Bush administration has an energy bias. Both the
president and the vice president come from an oil- and gas-producing state.
That is their bias,'' Davis said, referring to Bush's Texas oil roots and
Cheney's tenure as the head of Texas-based Halliburton Co. ``And I do believe
we should build more plants and produce more energy, but at the same time, we
must become more energy-efficient.''
Davis and other California officials have also pushed the administration to
limit the price of electricity throughout the West this summer. Although
federal regulators approved measures last week designed to rein in the cost
of electricity in California, the plan fell far short of hard price caps.
Cheney on Monday restated the White House's opposition to price caps, saying
they were among a number of the ``usual quick fixes'' that have failed to
solve the problem over the years.
``Price controls, tapping strategic reserves, creating new federal agencies
-- if these were any solution, we'd have resolved the problems a long time
ago,'' Cheney said.
Other sources rejected
The vice president rejected the idea that alternative sources of energy could
replace our dependence on fossil fuels such as oil, gas and coal, at least
for a long time.
``The reality is that fossil fuels supply virtually a hundred percent of our
transportation needs and an overwhelming share of our electricity
requirements,'' he said. ``For years down the road, this will continue to be
true.''
The solution, he said, is to find more oil and natural gas by to increase
drilling for oil and natural gas in the United States, making more use of
find new ways to burn coal more cleanly and put a renewed emphasis on nuclear
power.
``Fortunately for the environment, one-fifth of our electricity is nuclear
generated,'' he said. ``If we're serious about environmental protection, then
we must seriously question the wisdom of backing away from what is, as a
matter of record, a safe, clean and very plentiful energy source.''
Carl Pope, executive director of the Sierra Club, said the White House is
trying to convince people that their plan to ramp up increase energy
production, even at the expense of environmental concerns, is the only way to
solve the energy problems.
``From the beginning, the administration has wanted to tell the American
people that they didn't have any choice, that the only way they could
transport themselves to work, heat their houses, toast their toast .?.?. was
to ruin the environment,'' he said.
The environmental leader saw a sign of desperation, however, in Cheney's
speech. ``They've been out pushing this agenda for a hundred days and the
American people are rejecting it,'' Pope said.
Bush's low grade
Several recent polls have shown Bush scoring low on his handling of
environmental and energy issues. A Wall Street Journal/NBC News poll released
last week, showed 61 percent of respondents rated Bush's performance on
energy as ``only fair'' or ``poor.''
Rep. Anna Eshoo, D-Palo Alto, said the administration was going backward with
its proposals. She joined with more than 30 of her colleagues from California
and Washington to write to Secretary Abraham on Monday to criticize the
handling of the energy crisis.
``We can do much better than this,'' Eshoo said of the crystallizing White
House plan. ``I don't think we need to sacrifice our environment in order to
move ahead.''
Mercury News Staff Writer Michael Bazeley contributed to this report.
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Federal energy regulators propose surcharge plan to pay utilities' debt
Posted at 5:51 a.m. PDT Tuesday, May 1, 2001
SAN FRANCISCO (AP) -- A surcharge on wholesale electricity prices has been
proposed by federal energy regulators as a way to pay utilities' debts.
The move angers state officials who say the suggestion amounts to gouging
customers.
Sen. Dianne Feinstein, D-California, has been an outspoken critic of the
Federal Energy Regulatory Commission's policies in California. She said the
surcharge would ``ensure that power generators get paid fully for their price
gouging.''
``That is outrageous and will further alienate Californians,'' she said.
Late last year and early this year, power companies accrued about $6 billion
in unpaid bills from the state's ailing utilities. FERC suggested collecting
the money to reimburse suppliers who have debts from PG&E, Southern
California Edison and San Diego Gas and Electric Co.
The surcharge would likely be levied to the state's Department of Water
Resources. As the state's purchasing agent, that department has spent more
than $5 billion on power since January.
If the proposal is approved, FERC would require the California Independent
System Operator, which runs the state's power grid, to collect the surcharge.
``We have 30 days to comment to FERC and are considering our options,'' said
Sean Gallagher, state counsel at the California Public Utilities Commission.
AP-WS-05-01-01 0357EDT
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Record prices for power expected this summer in U.S.
Published Tuesday, May 1, 2001, in the San Jose Mercury News
BY WILLIAM CLAIBORNE
Washington Post
CHICAGO -- The rest of the United States is virtually certain to escape
rolling blackouts this summer like the ones that have plagued California, but
record price increases for electricity are likely in many places, energy
experts agree.
Despite their confidence that they can survive everything but an extremely
hot summer without power outages, managers of the nation's interconnecting
electrical power grids are anxiously awaiting new power plants that are
scheduled to come online. They are also promoting conservation and seeking
ways to avoid distribution logjams during peak demand periods this summer.
``We see a big distinction between California and the rest of the country,''
said David Costello, an economist in charge of short-term forecasting for the
Energy Information Administration, the statistical arm of the Energy
Department. ``We have no real reason to believe any place is unusually at
risk.''
But record spikes in the price of electricity are a given for this summer,
some industry analysts say, because a growing proportion of power plants run
on natural gas, which has doubled in price over the past year.
The Energy Department estimates that electricity demand will grow 2.3 percent
nationally this year, with much higher increases in the West and the South.
At the same time, the reserve capacity margin that utilities try to build
into their systems to handle the hottest days -- when use of air conditioners
and other appliances taxes supplies -- has been falling in some regions to
well less than the desired 15 percent above peak summer loads.
That means utilities may have to import large volumes of electricity over
transmission systems that were not designed to handle them. What power
officials are hoping to avoid are critical shortfalls in generating capacity,
followed by overwhelming strains on aging high-voltage transmission lines as
power is bought and sold in increasingly competitive electricity markets.
Even though scores of new power plants have been built in the Northeast,
South and Midwest in recent months and many more are being planned, the
expected 15 percent increase in new generation will not be fully online for
another two years.
That leaves parts of the nation vulnerable to outages if there are prolonged
heat waves this summer, or if utilities are unable to start up new or rebuilt
gas-fired power plants as scheduled, according to energy experts.
Apart from California, the worst problems are expected in adjoining western
states, as California electrical grid managers scramble to buy electricity at
a time when power production at the region's hydroelectric dams is already
being cut because of shrinking water levels in reservoirs.
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Davis calls generators on carpet
Published Tuesday, May 1, 2001, in the San Jose Mercury News
BY MICHAEL BAZELEY
Mercury News
Gov. Gray Davis has asked power generators to Sacramento next week for a
meeting intended to ``make sure they feel some of the pain'' of the state's
energy woes.
Davis and other officials have portrayed the generators -- who own the power
plants that supply the state's electricity -- as the black-hatted villains of
the energy crisis. Along with the utilities and consumer groups, Davis has
accused the companies of taking advantage of the energy shortage by charging
exorbitant prices for their power. They have denied that.
Davis said he would use the meeting to tell the companies ``not to rip us
off'' and to be ``good citizens.''
``These energy companies have made more money than any company in America,''
Davis said at a San Francisco event to promote conservation. ``They haven't
done it by making a better product. They haven't done it by providing better
service. They just bought our plants and are selling us back the power at
extraordinarily unheard-of rates. .?.?. They should participate collectively
in the solution of this problem.''
Davis said he also would meet with the owners of ``qualifying facilities,''
the smaller power generators that provide about one-fourth of the state's
electrical power.
Many of the generators have been either scaling back output or shutting down
entirely, contending that the state's two largest utilities owe them $1.5
billion.
Davis said he expected the power generators to agree to accept partial
payment for the energy they've sold the utilities.
Larger power generators are owed $5 billion to $15 billion for energy they
sold to the state and utilities, said Jan Smutny-Jones, executive director of
the Independent Energy Producers Association.
An official with Mirant Corp., which says it is owed $385 million, said he
was aware of the meeting with Davis, but he did not know the topic.
``We're very willing to send someone, if the governor is willing to work with
the generators on a cooperative solution,'' said spokesman Brian O'Neel.
Also Monday, Davis said that Pacific Gas & Electric Co. could still be forced
to sell its power transmission lines to the state, even though the utility is
now under the protection of federal bankruptcy court.
Davis had been working on a deal to buy the company's lines. But those talks
fell through weeks ago, and on April 6, PG&E filed for Chapter 11 bankruptcy
protection.
Speaking to reporters at a technology conference, Davis said a creditors
committee of businesses owed money by PG&E is considering asking the
bankruptcy judge to force a sale of the utility's power lines to the state.
Davis said his advisers met with the committee recently to brief them on
talks to buy the transmission lines of financially troubled San Diego Gas &
Electric Co.
The governor would like to take over the state's 32,000-mile power grid so he
can control the flow of electricity through the state and gain a negotiating
advantage when dealing with power producers.
Southern California Edison has already agreed to sell its power lines to the
state.
Mercury News Staff Writer Steve Johnson contributed to this report.
Contact Michael Bazeley at [email protected] or (415) 434-1018.
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PG&E lobbied heavily just before bankruptcy
Published Tuesday, May 1, 2001, in the San Jose Mercury News
BY DION NISSENBAUM
Mercury News Sacramento Bureau
SACRAMENTO -- In the three months before it declared bankruptcy, Pacific Gas
& Electric Co. spent nearly $650,000 lobbying state officials -- about
two-thirds of what the company spent all of last year trying to change
California laws.
The figures, reported Monday to the California secretary of state, offered
concrete evidence of the aggressive lobbying effort made by the now-bankrupt
utility to press its case. And it outraged consumer activists and state
leaders.
``Clearly it confirms that PG&E's priority wasn't keeping rates low,'' said
Steve Maviglio, spokesman for Gov. Gray Davis. ``They spent more time and
energy propping up their corporate image than paying attention to
California's energy needs.''
In all of 2000, when the first signs of the energy crisis appeared, the
utility spent about $900,000 lobbying state leaders. In the first three
months of 2001, PG&E spent $644,000. Ron Low, a PG&E spokesman, said the
spending came in response to hundreds of bills introduced at the special
legislative session on the energy crisis called by Davis and hundreds of
hours spent in Sacramento talking with state leaders about the company's
plight.
``The bills and legislation had the potential to impact our customers,'' Low
said. ``We were providing testimony at committees, information requested by
legislators and doing the analysis required.''
In trying to sway California officials, PG&E hired some of the state's most
prominent lobbyists. Among those enlisted by PG&E were Platinum Advisors, a
firm headed by former Davis campaign finance adviser Darius Anderson and a
law firm headed by the chief of staff to former GOP Gov. George Deukmejian.
PG&E dwarfed other energy interests with its lobbying, but other power
companies spent tens of thousands of dollars in Sacramento.
San Diego Gas & Electric spent more than $190,000 in the first three months
of 2001, almost as much as for all of 2000.
Southern California Edison, which spent $1.4 million on lobbying last year,
had not filed its latest report as of Monday night.
All three utilities have spent the past year trying to persuade state leaders
to rescue them from bankruptcy. During the crisis, the state has stepped in
to buy energy for the utilities, agreed to raise rates and offered a complex
bailout plan.
Edison agreed last month to the bailout offer, but PG&E turned down the same
deal and declared bankruptcy April 6.
Contact Dion Nissenbaum at [email protected] or (916) 441-4603.
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Cheney outlines energy strategy for U.S.
The vice president says California-type blackouts are possible elsewhere.
May 1, 2001
By SANDRA SOBIERAJ
The Associated Press
TORONTO Vice President Dick Cheney warned Monday that the whole nation could
face California-style blackouts as he outlined a national energy strategy
relying heavily on oil, coal, natural gas and nuclear-power development - but
not conservation.
"The aim here is efficiency, not austerity," Cheney told editors and
publishers at The Associated Press annual meeting. The nation cannot "simply
conserve or ration our way out of the situation we're in."
In his first extensive remarks about the energy recommendations his
Cabinet-level task force will make to Bush by the end of May, Cheney blamed
current shortages on shortsighted decisions in the past. He said
conservation, while perhaps "a sign of personal virtue," does not make for
sound or comprehensive policy.
Saving the specifics for his boss to review and then announce, Cheney
promised "a mix of new legislation, some executive action as well as private
initiatives" to cope with rising energy prices and growing demand.
He said anew that the administration intends to push for drilling in the
Arctic National Wildlife Refuge despite strong congressional opposition.
He rejected price controls, tapping the Strategic Petroleum Reserve or
creating new bur eaucracies.
Over the next two decades, it will take between 1,300 and 1,900 new power
plants - or one every week for 20 years - just to meet projected increases in
nationwide demand, Cheney said.
Energy shortages in California already have forced rolling blackouts. And he
said, "Without a clear, coherent energy strategy for the nation, all
Americans could one day go through what Californians are experiencing now, or
even worse."
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Bush taking a supply-side policy on energy
Cheney says oil, coal and natural gas will be the primary resources for
'years down the road.'
May 1, 2001
By JOSEPH KAHN
The New York Times
WASHINGTON - Vice President Dick Cheney said Monday that oil, coal and
natural gas will remain America's primary energy resources for "years down
the road," and that the Bush administration's energy strategy will aim mainly
to increase the supply of fossil fuels, rather than limit demand.
Cheney, who ran the Dallas-based oil-services company Haliburton Inc. before
becoming vice president, offered a supply-oriented energy philosophy that
seems likely to dominate the report his task force is expected to issue as
early as mid-May.
The report to President George W. Bush is expected to recommend legislation,
executive actions and incentives for the private sector.
His comments, delivered to the annual meeting of The Associated Press in
Toronto, seemed partly a combative response to Democrats and
environmentalists who argue that the Bush administration has used
California's electricity shortages as a pretext to enact energy policies that
have been favored by industry executives for many years.
In discussing their energy plans recently, administration officials have put
the most emphasis on opening protected lands to oil and gas exploration,
while rolling back environmental rules that inhibit the burning of coal and
the construction of pipelines and refineries.
Bush's most-visible steps to combat what he labeled an energy crisis have
alienated environmentalists. He rejected a treaty that would reduce emissions
of gases cited as a cause of global warming and backtracked on his own pledge
to require controls on greenhouse-gas emissions by power plants, citing
urgent energy needs.
Cheney said drastic measures were necessary because the needs are so great.
He estimated that the country needs 38,000 miles of new pipelines to carry
natural gas, for example.
Coal, Cheney said, has been neglected. It is America's "most-plentiful source
of affordable energy." He said people who seek to phase out its use, largely
because they consider it a major source of air pollution, "deny reality."
He said the most environmentally friendly way to increase energy supplies was
to extend the life of existing nuclear plants and grant permits to build new
ones, because they have zero emissions of greenhouse gases.
Utility-industry executives have applauded the administration's support of
nuclear power, but questioned the economic viability of building new nuclear
power plants anytime soon. Environmentalists dispute Cheney's contention that
nuclear power is the cleanest source of energy because they say the mining
and enriching of uranium and the storage of nuclear waste are environmental
hazards.
Cheney indicated the administration would put some weight on energy
efficiency.
New technology - like computer screens that use far less power and
energy-efficient light bulbs - have an important role because they can save
energy without reducing living standards, he said. But he said he would
oppose any measure based on the premise that Americans now "live too well" or
that people should "do more with less."
Some people who have talked with administration officials about the
forthcoming energy plan expect that the policy will include some tax-related
measures to promote efficiency. Among those considered most likely: Granting
tax credits for people who buy fuel-efficient automobiles and for power
companies that produce electricity using renewable energy sources, like
solar, wind and geothermal.
He said new drilling technologies mean that exploration can take place in the
19-million acre refuge, which President Eisenhower made protected federal
land, without disturbing the habitat for caribou and other wildlife. The
affected area totals no more than 2,000 acres, he said, "one-fifth the size
of Dulles Airport" outside Washington.
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Power supplier will pay to settle
Regulators to accept $8 million settlement from Williams Cos. over price
hikes last year.
May 1, 2001
By KATE BERRY
The Orange County Register
An energy company accused of withholding power to drive up prices in
California's electricity market agreed to pay $8 million in a settlement
approved Monday by federal energy regulators.
The settlement is the first by a company accused of charging excessive
electricity prices in the state.
The Federal Energy Regulatory Commission accepted the settlement in which
Williams Cos., of Tulsa, Okla., will refund the state's grid operator $8
million for power sold at more than 10 times what it otherwise would have
cost.
The purchases were made in a 10-day period last April and May. Regulators
said Williams deliberately kept generating units in Long Beach and Huntington
Beach offline to raise prices. The California Independent System Operator,
which manages the state's electric grid, designated those units to supply
power during periods of peak demand at contracted prices.
The FERC order stated that "Williams had a financial incentive to prolong
outages," at the two plants, which are owned by AES Corp.
Williams would have been paid $63 a megawatt hour if the two power plants had
been online, the FERC order stated. Instead, the company was paid $750 a
megawatt hour for electricity from other AES generating units during that
period.
AES had said the units were taken offline for repairs. AES, which sells all
power generated at its three plants in Southern California to Williams under
a contract, did not share in the profits from the power sales.
Officials at Williams have repeatedly denied that the units were deliberately
shut down. As part of the settlement, the company did not admit wrongdoing.
Federal officials had required Williams and AES to justify more than $40
million charged to the ISO. The companies faced paying a maximum of $10.8
million in refunds.
In a separate matter, Williams is one of several power providers accused by
federal regulators of overcharging the ISO $124 million for power in January
and February. The power providers are still disputing those charges.
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Energy notebook: Bills target high natural-gas prices
State measures aim to boost production, speed OKs on new storage tanks and
order tariff review.
May 1, 2001
From Register news services
SACRAMENTO California lawmakers introduced measures intended to lower the
price of natural gas, which has been as much as 10 times higher in the state
than in other parts of the country.
The four measures, introduced by members of the state Assembly, would speed
up the approval of underground gas-storage tanks, encourage the production of
natural gas for industrial uses, and order the review of tariffs relating to
natural gas.
"This market has gone out of control," said Joe Canciamilla, chairman of the
Assembly's subcommittee on natural gas and author of two of the bills
introduced Monday.
Almost 80 percent of electricity produced in California is generated by
burning natural gas. High electricity prices in the state, which have led to
the near insolvency of California's two largest electric utilities, have been
blamed partly on high natural-gas prices.
PG&E Corp.'s Pacific Gas & Electric, the state's No. 1 electric utility,
filed for bankruptcy protection this month after running up $9 billion in
power-buying losses. Edison International's Southern California Edison, the
state's second largest utility, also is on the verge of bankruptcy after
accruing more than $5.4 billion in power losses.
Under the state's deregulation laws, wholesale power prices have been allowed
to float, while consumer rates have been temporarily frozen.
AB78X, by Canciamilla, a Democrat from Pittsburg, would streamline the
approval of new underground tanks so more natural gas could be stored in
California and demand for gas from out of state would be smoothed out. AB23X
directs the Public Utilities Commission to review all natural-gas tariffs.
AB73X, co-sponsored by Canciamilla, would allow natural gas unfit for use in
residences to be sold to industrial customers. AB42X reduces to one year from
as much as two years the permitting process for pipeline construction.
Regulators mull surcharge to help pay off generators
WASHINGTON U.S. energy regulators are considering whether to force
California's electricity grid operator to impose a surcharge on power sales
to pay for more than $14 billion owed to generators by California utilities.
The proposal is part of the price mitigation order for California issued by
the Federal Energy Regulatory Commission last Wednesday. The public can
comment on the proposal for 30 days before the commission decides whether to
implement it.
The Edison Electric Institute, an industry group, cautiously supported the
idea. "We're in favor of anything that keeps the lights on in California,"
said spokeswoman Pat McMurray. "Anything that keeps the generators selling
into California is good," she said, adding that the group had yet to study
the proposal carefully.
The FERC is proposing that an unspecified surcharge be placed in an escrow
account by the California Independent System Operator to ensure that
generators are paid. Whether the surcharge would be applied toward past bills
or future power bills is open for debate, according to the order.
California utilities have amassed billions of dollars in debt buying
wholesale power at high prices while being limited by law as to what they can
charge consumers. The state is preparing to sell $10 billion in bonds to pay
for electricity this summer, when blackouts are expected as demand exceeds
supplies.
Jan Smutny-Jones, executive director of the Independent Energy Producers
Association, said his group is still "trying to sort out how something like
that might work," but offered no further comment.
There is also a question whether the FERC has jurisdiction to order the
California ISO to collect the surcharge, said Edison Electric Institute
spokeswoman McMurray, adding that the issue may have to be clarified later.
PG&E still may sell its transmission lines to state
SAN FRANCISCO California's largest utility still may sell its transmission
lines to the state despite seeking bankruptcy protection when an earlier deal
with state negotiators fell through, Gov. Gray Davis said Monday.
Davis told reporters that a creditors committee of businesses owed money by
Pacific Gas and Electric Co. asked state negotiators for a briefing on talks
to buy the transmission lines of financially troubled San Diego Gas and
Electric Co., whose parent company is Sempra Energy.
"The creditors committee called us and asked for a briefing on Sempra last
week," Davis said, adding he believes there is some possibility of buying
PG&E's lines. "It helps us because it helps get PG&E back in."
PG&E did not immediately return calls for comment.
The utility filed for Chapter 11 protection April 6 after failed attempts by
the state to buy its transmission lines to help the troubled utility pull
itself out of a multi-billion dollar debt.
The governor struck a $3.5 billion deal with Southern California Edison Co.
for its lines, undeveloped land and the promise of relatively cheap power.
The deal requires legislative approval. The state has offered $1 billion to
Sempra Energy for a similar package.
Davis told a crowd at investment firm J.P. Morgan's H&Q Technology Conference
that his state is boosting spending on technology research and education
incentives to keep California attractive to investment.
In other news:
The state paid nearly $90 million to buy electricity on each of a couple of
days last week as Californians turned up their air conditioning amid
unseasonably warm temperatures, according to state finance officials.
That amount is double what the state had been paying for a day's worth of
power earlier this year, but only a slight increase from the $73 million it
has been paying recently since the Pacific Gas & Electricity Co. bankruptcy
filing.
Also on Friday, state finance officers asked for an additional $500 million
from the legislature to buy power. That brings the total amount that the
state has set aside for electricity since January to $6.2 billion.
A federal judge dismissed a lawsuit Monday filed by Duke Energy against Gov.
Gray Davis over energy contracts the state seized earlier this year from
Southern California Edison and Pacific Gas & Electric.
U.S. District Court Judge Terry Hatter ruled that Davis has immunity under
the 11th Amendment, which prevents residents of one state from suing the
government of another state in federal court.
The Associated Press and Bloomberg News contributed to this report.
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Tuesday, May 1, 2001
Leadership blackout
Gov. Davis seems unplugged in dealing with the crisis
April 29, 2001
By Steven Greenhut
The Orange County Register
We've seen it a bazillion times on TV and in the movies. A crisis threatens a
family, a community, a nation. Perhaps the threat comes from an enemy during
wartime. Or from a gang of criminals, corporate polluters, corrupt government
officials or aliens from Mars.
Out of nowhere, someone - sometimes from the least expected place - steps to
the plate. It's not just in the movies. History books are filled with the
likes of George Washington, Winston Churchill, Lech Walesa. People who seized
the moment and made it their own; people who chose to lead - and worry about
the consequences later.
History books are filled, also, with those who ducked for cover, pointed
fingers or ran away.
No one would have believed it, but in spring 2001 the nation's most populous
state is struggling with looming blackouts, soaring electricity rates, state
legislators blustering about Evil Power Producers and proposing "solutions"
that lost credence when the Berlin Wall fell. And rather than lead, the man
on the hot seat has become angry, immobile. He stands there, yelling "It's
not my fault," and waiting for the mess to evaporate.
Most Californians sympathize with Gov. Gray Davis, who just a few months ago
was viewed as an inevitable presidential contender. We know he didn't create
the current mess.
But it's Davis' moment, nonetheless. One would have thought the man who spent
his career plotting his rise to the governor's office would have had some
underlying reason for aspiring to the post. Anyone can be a leader when
there's nothing to do but spend a surplus. But the real test comes when the
chips are down.
No one should pin their hopes on politicians. Typically, pols should tend to
the administrative affairs of government and let a free people live free
lives. But the electricity imbroglio is a government-created mess that
initially requires a government solution.
After all, we're talking about highly regulated utilities. It is a botched
state de-regulation plan - actually a re-regulation plan - that exacerbated
the energy problems. And it has been the state's unwillingness to allow power
generators to build plants that has added to supply shortfalls.
There are two directions to choose: Toward a system owned and operated by the
state government, or toward a market-based system that treats electricity
like any other commodity. The price of natural gas, food, clothing and other
essentials are allowed to rise and fall, according to the marketplace.
Why is electricity so holy?
If prices are allowed to float, and generators are allowed to provide the
juice to fill demand, soon enough a competitive market will overtake the
initial price jumps and force prices down again. Sen. Tom McClintock,
R-Thousand Oaks, one of the few rational voices in Sacramento, argues that
Davis should have returned the surplus to taxpayers, who would have then had
the means to pay for the initial price spikes.
Instead, Davis has spent the surplus buying electricity, allowing taxpayers
to foot the bill because he refuses to allow customers (Aren't they the same
people?) to pay market prices. Adding insult to injury, he refuses to make
his dealings public.
Furthermore, Davis could have stabilized the situation last year when leaders
of the state's utilities tried in vain to get his attention about looming
problems and to urge limited price increases and use of long-term contracts
to buy power. Instead, Davis and his handpicked political crony who runs the
Public Utilities Commission did nothing - except let a problem spiral into a
full-blown crisis.
Without any leadership from the top, Californians hear a cacophony of
proposals from below.
The Legislature, dominated by Democrats far out on the "left-wing yahoo"
scale, are talking about Texas power generators in the same overheated
rhetoric some right-wingers use to talk about the Chinese communists. One
talked about sending tanks to Houston.
Understandably, the utility companies are looking out for their own
interests.
Pacific Gas & Electric, angry that the governor refused to do anything about
the crisis, declared bankruptcy the day after Davis' say-nothing address to
Californians this month. As some commentators note, PG&E is far more
comfortable dealing with a bankruptcy judge than dealing with a governor and
legislators who starred in "Clueless in Sacramento."
By contrast, Southern California Edison has chosen not to file bankruptcy
now, preferring instead to sell the state its transmission lines as a way to
generate cash to keep this quasi-private entity going.
John Bryson, a longtime Davis associate and a creature of the
government/regulatory/utility model, frankly admits that the main rationale
for selling the lines to the state is to keep his company afloat, independent
and credit worthy.
But it's a lousy idea for taxpayers, who would gain a multibillion-dollar
liability badly in need of costly maintenance. I don't blame Bryson (who, by
the way, co-founded the left-wing Natural Resources Defense Council early in
his career) for looking out for his company first. But what's good for the
utilities is not necessarily good for taxpayers.
Then there are the self-proclaimed consumer advocates. Their goal seems to be
to destroy the utilities so bureaucrats can run the system. These are people
who believe markets are the spawn of Satan.
Republicans have generally been content to let Davis twist in the wind, which
isn't the best leadership model, either. Sen. McClintock and a few others
have offered meaty ideas. But they are a minority of a minority and have no
real political muscle in the Democrat-dominated statehouse.
Who is left? Who you gonna call? Who is going to keep the still-thriving
California economy from going south?
The answer is Gray Davis. It's his hour, his moment, his crisis. The answers
are out there if only this "pragmatic" and "centrist" governor would be
willing to look to the market rather than the government. (Hint: See
solutions outlined on these pages today.)
It's time to stop delaying, blustering, blaming others. It's time for Davis
to remind Californians why they elected him governor. Steven Greenhut is an
Orange County Register editorial writer.
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[B] Calif. Gov Davis/ PG&E utility creditors may like grid sale --Davis sees
Calif energy supply outstripping need by fall '03 --Davis/ PG&E credi <>
By Cristine Denver
San Francisco, April 30 (BridgeNews) - California Gov. Gray Davis said
Monday he has spoken with creditors of Pacific Gas & Electric, the
utility that
filed for bankruptcy April 6, and they like the idea of potentially selling
the
company's transmission network to the state. Sempra Energy will also likely
agree to a similar deal, Davis said.
* * *
The California Department of Water Resources signed a memorandum of
understanding to buy Southern California Edison's grid for $2.76 billion. The
deal is intended to help pay for past power costs, which drove Pacific Gas
&
Electric, the state's biggest utility, to seek bankruptcy protection.
Sempra, whose utility, San Diego Gas & Electric, has been able to recover
surging electricity costs, "will also take something along (the) lines," of
Edison, Davis said.
Sempra CEO Stephen Baum has consistently told analysts that San Diego Gas
&
Electric Co. and the state are in negotiations on the transmission purchase
and
that the price would be approximately 2.3 times the book value, which Baum
told
analysts last week was $433 million. The question has been the timing of a
Sempra deal. Sempra, and its regulated utility, are not under the same
financial pressure to sell its transmission system. SDG&E was not forced
into a
major liquidity crisis as were PG&E Co. and Southern California Edison.
SDG&E
was able to pass on soaring purchase power costs to ratepayers, while the
state's other two investor-owned utilities were unable to raise rates.
On the sidelines with reporters at the J.P. Morgan Technology conference
here, Davis was asked what would make him think that Pacific Gas &
Electric
Co.'s creditors might favor a deal similar to one worked out with Edison
International subsidiary Southern California Edison, and currently in
negotiations with Sempra Energy unit San Diego Gas & Electric Co.
Davis responded saying that, "The creditors committee called us and asked
for a briefing." Davis said the creditors, "like part of it (the Edison
plan), and asked some good questions."
In his presentation at the conference, Gov. Davis described the state's
strategy for solving the currently electric power supply crunch in four words:
"Build more power plants." Davis outlined the quick approvals that have been
made to get power plants sited and construction started. He told the
conference
that by the fall of 2003, the state, "will finally have more power than
California needs. We are on the glide path toward that goal; but can't make up
for the inaction of the past 12 years overnight."
Davis was making a veiled reference to the 12 years during which Republican
governors occupied the office previous to Davis' election. It was during the
administration of Republican Pete Wilson that California's deregulation plan
was passed by the Legislature.
In addition to the power plant facility build up California will undergo,
u
Davis touted conservation efforts the state is making to reduce demand this
summer.
"We're going to have to set the Guinness record for conservation in order
to avoid major disruptions this summer," Davis said. End
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Davis Optimistic Despite Power Woes
SAN FRANCISCO (AP) via NewsEdge Corporation -
Pacific Gas and Electric Co., which owes
billions of dollars and is seeking bankruptcy protection, still may
sell its transmission lines to the state, Gov. Gray Davis said
Monday.
Davis told reporters that a committee made up of businesses owed
money by PG&E has asked for a briefing on the state's efforts to
buy the transmission lines of another financially troubled utility,
San Diego Gas and Electric Co., a unit of Sempra Energy.
``The creditors committee called us and asked for a briefing on
Sempra last week,'' Davis said at a technology conference hosted by
J.P. Morgan, adding he believes there is some possibility of buying
PG&E's lines. ``It helps us because it helps get PG&E back in.''
PG&E did not immediately return calls for comment.
PG&E, California's largest utility, filed for Chapter 11
protection April 6 after failed attempts by the state to buy its
transmission lines.
The governor struck a $3.5 billion deal with Southern California
Edison Co. for its lines, undeveloped land and the promise of
relatively cheap power. The deal requires legislative approval. The
state has offered $1 billion to Sempra Energy for a similar
package.
Since January, the state has committed more than $6 billion to
buying electricity for the customers of PG&E, SoCal Edison and
SDG&E.
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National Desk; Section A
CHENEY PROMOTES INCREASING SUPPLY AS ENERGY POLICY
By JOSEPH KAHN
?
05/01/2001
The New York Times
Page 1, Column 6
c. 2001 New York Times Company
WASHINGTON, April 30 -- Vice President Dick Cheney said today that oil, coal
and natural gas would remain the United States' primary energy resources for
''years down the road'' and that the Bush administration's energy strategy
would aim mainly to increase supply of fossil fuels, rather than limit
demand.
In his most comprehensive comments to date on the energy task force he is
heading on behalf of President Bush, Mr. Cheney dismissed as 1970's-era
thinking the notion that ''we could simply conserve or ration our way out''
of what he called an energy crisis.
The only solution, he said, is a government-backed push to find new domestic
sources of oil and gas, including in protected areas of the Arctic National
Wildlife Refuge, and an all-out drive to build power plants -- a need that he
says will require one new electricity-generating plant a week for 20 years.
''America's reliance on energy, and fossil fuels in particular, has lately
taken on an urgency not felt since the late 1970's,'' Mr. Cheney said.
''Without a clear, coherent energy strategy, all Americans could one day go
through what Californians are experiencing now, or worse.''
Mr. Cheney, who ran the oil-services company Halliburton Inc. before becoming
vice president, offered a supply-oriented energy philosophy that seems likely
to dominate the report the cabinet-level task force is expected to issue as
early as mid-May. The report is expected to recommend legislation, executive
actions and incentives for the private sector.
The vice president's comments, delivered to the annual meeting of The
Associated Press in Toronto, seemed partly a combative response to Democrats
and environmentalists who argue that the Bush administration has used
California's electricity shortages as a pretext to enact energy policies that
have been favored by industry executives for many years.
In discussing their energy plans recently, administration officials have put
the most emphasis on opening protected lands to oil and gas exploration,
while rolling back environmental rules that inhibit the burning of coal and
the construction of pipelines and refineries. They have also strongly
advocated the use of nuclear power.
Critics have faulted the administration for moving quickly to abandon a
treaty on global warming and rejecting controls on carbon dioxide emissions
from power plants, steps Mr. Bush said were vital because of energy
shortages. The administration has also come under withering criticism for
delaying stricter standards on arsenic in drinking water.
Mr. Cheney said today that environmentalists had taken things too far. He
said a recent television advertisement showing a child asking for more
arsenic in her water was a ''cheap shot.''
Drastic measures to increase energy supplies are justified, he said, because
the geometry of supply and demand curves are so alarming. He estimated that
the country needed 38,000 miles of new pipelines to carry natural gas,
covering the distance of Maine to California more than 12 times over.
Coal, Mr. Cheney said, has been neglected. It is the United States' ''most
plentiful source of affordable energy.'' He said people who sought to phase
out its use, largely because they considered it a major source of air
pollution, ''deny reality.''
He said the most environmentally friendly way to increase energy supplies was
to extend the life of existing nuclear plants and grant permits to build new
ones, because they had no emissions of greenhouse gases.
''We can safeguard the environment by making greater use of the cleanest
methods of power generation we know,'' he said, speaking of nuclear power.
''If we are serious about environmental protection, then we must seriously
question the wisdom of backing away from what is, as a matter of record, a
safe, clean and very plentiful energy source.''
Utility industry executives have applauded the administration's support of
nuclear power, but questioned the economic viability of building new nuclear
power plants anytime soon. Environmentalists dispute Mr. Cheney's contention
that nuclear power is the cleanest source of energy because they say the
mining and enriching of uranium and the storage of nuclear waste are hazards.
Mr. Cheney indicated that the administration would put some emphasis on
energy efficiency. New technology -- like computer screens that use far less
power and energy-efficient light bulbs -- have an important role because they
can save energy without reducing living standards, he said. But he said he
would oppose any measure based on the premise that Americans now ''live too
well'' or that people should ''do more with less.''
''The aim here is efficiency, not austerity,'' he said. ''Conservation may be
a sign of personal virtue, but it is not a sufficient basis for a sound,
comprehensive energy policy.''
Some people who have talked with administration officials about the energy
plan expect that the policy will include some tax-related measures to promote
efficiency. Among those considered most likely are tax credits for people who
buy fuel-efficient automobiles and for power companies that produce
electricity using renewable energy sources.
But the budget Mr. Bush submitted to Congress in early April sharply reduced
spending by the Department of Energy on research and development for energy
efficiency and renewable energy technologies.
''They give lip service to efficiency, but their whole emphasis is on
supply,'' said Senator Jeff Bingaman, a New Mexico Democrat who has
introduced energy legislation that he says strikes a finer balance between
increasing supply and controlling demand.
In a report to be released later this week, the American Council for an
Energy-Efficient Economy estimates that raising the fuel efficiency of cars
and light trucks by what it calls a modest amount could do far more to reduce
reliance on imported oil than drilling for oil in the Arctic National
Wildlife Refuge.
Fuel economy standards reached their peak in 1988, when the average passenger
vehicle covered 26 miles on a gallon of gas. The average fell to 24 miles per
gallon last year, because more Americans drive light trucks, which have lower
mandated efficiency standards than cars.
Raising average fuel use by cars and light trucks to 35 miles per gallon by
2010 would result in oil savings of 1.5 million barrels a day by that time,
the report says. The United States Geological Survey estimates that the
Alaskan refuge would probably produce 580,000 barrels a day later this
decade.
Mr. Cheney did not discuss the merits of raising government-mandated
Corporate Average Fuel Economy standards in his address today. But he
strongly defended the administration's proposal to allow drilling for oil and
gas in the Alaskan refuge.
The administration has sent mixed signals recently on how hard it intends to
push to open the refuge. Christie Whitman, the Environmental Protection
Agency administrator, said earlier this month that the energy plan would not
emphasize drilling in the Alaskan wilderness, but other officials
contradicted her.
Mr. Cheney left little doubt of his support. He said new oil-drilling
technologies meant that exploration could take place in the 19-million-acre
refuge without disturbing wildlife. The affected area totals no more than
2,000 acres, he said, ''one-fifth the size of Dulles Airport.''
Photo: Vice President Dick Cheney said yesterday in Toronto that the
administration's energy policy would support more nuclear plants.
(Reuters)(pg. A20)
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National Desk; Section A
River's Power Aids California And Enriches the Northwest
By BLAINE HARDEN
?
05/01/2001
The New York Times
Page 1, Column 5
c. 2001 New York Times Company
GEORGE, Wash. -- Doing something nice for California has never been a
priority here in the Columbia River Basin, where high-voltage power lines
lope across irrigated fields of alfalfa, potatoes and wheat.
Politicians from California, as farmers in this area will explain at great
length, have been scheming for decades to siphon off the basin's cheap
electricity and water.
Californians, however, have been noticeably less irritating as of late.
Having fouled up electricity deregulation six ways from Sunday, they are
skidding into the summer air-conditioning season desperately short of power.
In the last year, much of their salvation has come from the Columbia River,
whose monstrous dams are the largest hydroelectricity machines in North
America.
All along the river, from Portland, Ore., to British Columbia, utility
companies, aluminum makers and farmers have joined to help save California --
but at a staggering price. Charging whatever California's dysfunctional power
market will bear, people in this narrow stretch of the Northwest have created
a kind of Kuwait along the Columbia.
With their record profits, some public utilities are wiring the emptiness of
Eastern Washington with fiber optics, buying diesel generators to make still
more power and paying Wall Street-style wages to electricity traders -- while
making sure that their electricity rates remain among the cheapest in North
America. Just north of the border in British Columbia, a state-owned utility
luxuriated in its California windfall by mailing out rebate checks to 1.6
million customers.
Their good fortune, though, has come with a measure of ambivalence and may
well be short-lived. A severe drought is already hurting farmers across the
region. If it continues, utilities along the river will have to buy power and
may be punished by the same market forces that gave them a windfall.
''This is not nice money,'' said Alice Parker, a retired farmer who heads a
group that promotes irrigation in the Columbia Basin. ''It is something that
is offered to us not to use water so Californians can run their
air-conditioners.''
Nice or not, a whole lot of money flooded into the Columbia Basin.
North of here in sparsely populated Chelan County, a publicly owned utility
that has two dams on the Columbia made three times as much money last year
than it ever had before. With just 35,000 local customers, the utility last
year had a $58.2 million profit. It paid its two top power traders $285,000
each, an astonishing income in a county where per capita income is less than
$25,000 a year. The utility refuses to reveal the traders' names for fear
their children might be kidnapped.
The chief operating officer of Chelan County Public Utility District
acknowledged that increases in the cost of power were ''huge'' and
''obscene.'' But the executive, Charles J. Hosken, added, ''We would be
imprudent if we did not maximize this market for our customer owners.''
Next door in equally sparse Grant County, a public utility that also owns two
dams on the Columbia has made even more money maximizing the market. It had a
record $88.8 million in profits last year -- more than double its best
previous year.
Grant County Public Utility District, which has just 40,000 retail customers,
is using its windfall to help build a $70 million fiber optic network for
local residents. It has also bought 20 diesel generators to guard against
power shortages and, if possible, exploit the power gold-rush. The utility
estimates that those generators could add $50 million to profits in the
coming year.
Like Chelan, Grant is using its profits as a kind of drought insurance to
insulate its customers from high market prices for electricity, when, as now,
local needs exceed generating capacity in the river. Power rates in Grant and
Chelan Counties are about one-fifth as much as in New York City.
Grant County's utility has rejected, for the time being, the idea of giving a
share of its profits to its customers.
''How would it look if Grant County gives away rebates while so many people
are paying more for electricity?'' asked Lon Topaz, director of resource
management for the utility. ''It would be lousy politics.''
An Upside-Down Economy
The second-worst drought on record in the Columbia River Basin has combined
with California's deregulation mess to further distort the energy market.
Drought has not only helped increase the price at which electricity can be
sold on the spot market -- 10 to 20 times as much as last year's price -- it
has strengthened a compelling bottom-line rationale for conservation. Every
megawatt not purchased and used in the Northwest (often at locked-in,
long-term prices that are a fraction of the current market rate) can be sent
south to California. For many utilities, conservation spells local savings
and a long-distance bonanza.
As a result, a regional economy built on half a century of cheap hydropower
has been stood on its head. Irrigation farmers here are being paid up to $440
an acre not to farm.
Similarly, aluminum companies are collecting about $1.7 billion this year by
not making aluminum. Companies like Alcoa have earned profits that delight
Wall Street, while keeping about 10,000 workers on their payroll, by
reselling hydropower that they bought in the mid-1990's under a cheap
long-term contract.
Even residential customers are being offered a chance to make a few dollars
from the power crunch. Avista Utilities has announced that it will pay its
customers in Washington and Idaho 5 cents for every kilowatt they do not use,
if their consumption falls more than 5 percent below last year's level.
For utilities in the Northwest, by far the largest profits from California's
electricity crisis have been secured in British Columbia. A number of private
American utilities have also benefited from California's troubles.
BC Hydro, a utility owned by British Columbia with dams on the Columbia and
Peace Rivers, is the first corporation in the history of the province to
exceed $1 billion in profits, as measured in Canadian currency ($712 million
in United States currency).
To celebrate, the provincial government ordered BC Hydro to do something it
had never done before. The utility mailed each of its customers a check for
$130. BC Hydro also guaranteed them no increases in electricity rates, which
have not gone up for seven years.
''We are just happy to be lucky that we have reservoirs and dams that were
built by people of great foresight,'' said Brian R. D. Smith, chairman of BC
Hydro.
When reminded that a March study by the California Independent System
Operator, which runs that state's power grid, accused BC Hydro of market
manipulation and profit gouging, Mr. Smith was less happy.
''All they do is scream and shout and they won't pay you the money they owe
you,'' he said, arguing that his company has gone out of its way to help
California in its hour of need. Gouging has nothing to do with it, he said,
adding that it was California's ''awful mess'' in deregulating power markets
that fueled BC Hydro's record profits.
A Good Deal for Farmers
In the beginning, that is to say when federal money began transforming the
Columbia from the world's premier salmon highway into a chain of adjustable
lakes, no one paid much attention to electricity. The river possessed a third
of America's hydroelectric potential, but there were not enough people in the
Northwest to use more than a fraction of it, and long-distance high-voltage
transmission lines did not exist.
The main intention, when New Deal dollars began raining on the Northwest in
the 1930's, was to create family farms. Grand Coulee Dam, the biggest dam in
North America and by far the largest hydroelectric plant, was primarily
designed as a water-delivery device for farmers.
Since then, as 6,000 miles of tunnels and concrete canals were built to
shuttle water around in sagebrush country, each 960-acre farm in the Columbia
Basin Federal Irrigation Project was blessed with at least $2.1 million in
federal infrastructure subsidies, according to the Bureau of Reclamation,
which built it.
In addition, farmers are guaranteed access to cheap water from the Columbia
and the right to buy all the electricity they needed to pump that water out
of the river -- at $1.50 a megawatt. A megawatt of electricity currently
sells for $375 to $400 on the spot market. As Paul Pitzer, a Columbia Basin
historian, has written, farmers here have always felt that ''no price is too
high to pay for their water so long as someone else is paying the bill.''
This year, though, the price finally became unbearably high for the
Bonneville Power Administration, a nonprofit agency that markets electricity
from 29 federal dams on river. The agency calculated that if it could
persuade farmers in the project not to irrigate 90,000 acres of land, water
left in the Columbia would produce electricity worth as much as $129 million
(if it had to be purchased at current market prices).
In a buyout that is without precedent in the Pacific Northwest, Bonneville is
paying 800 farmers a total of $30 million. The farmers receive $330 for each
acre they do not farm. On top of that, Grant County's public utility is
paying many of the same farmers about $100 an acre not to farm their land.
On April 13, about 20 irrigators gathered for lunch at the Martha Inn Cafe
here in George to discuss the buyout. Since farm prices are low this year,
they agreed that it was a good deal.
Still, the farmers, who do not like to be reminded of the federal subsidies
that keep their irrigation system afloat, said they worried about the
precedent they set when they traded water for cash.
''This has to be a temporary deal,'' said Tom Flynt, 52, who normally farms
900 acres but has taken 150 acres out of production because of the buyout.
''If anybody thought this would affect their water rights, there would be no
takers.''
Several farmers said they did not like the idea of their water supporting the
lifestyles of urban people, especially Californians, who, those who were
interviewed said, do not appreciate the food that the farmers put on their
table.
''We feel that Americans are making decisions with their mouths full,'' said
Tricia C. Lubach, a marketing consultant whose husband is an irrigation
farmer. ''Not too long ago they didn't worry about where the power comes
from. Someday they may think about where the food comes from.''
A 'Wonderful Energy Fit'
A couple of hundred miles northwest of George, in a penthouse conference room
that overlooks Vancouver harbor, Mr. Smith, the chairman of British
Columbia's most profitable company, explained in mid-April what a pain it was
selling electricity to Californians.
''People say to me what are you doing selling power to those ungrateful
Californians,'' he said. It does not help, he added, that the state is behind
on its bills by about $300 million.
Still, neither BC Hydro nor the provincial government can afford to lose
California's money. The utility has become a cash cow for the provincial
budget, which in the last decade has received more than $3.7 billion from BC
Hydro.
''We have a wonderful energy fit,'' Mr. Smith said, referring to BC Hydro's
power-trading relationship with California, if not to Californians
themselves. ''We have oversupply in the summer when they have got high
demand, and we have got undersupply in the winter when they have got stuff to
give to us.''
BC Hydro has acknowledged that it massages its hydropower system to sell
power when it is most needed -- and most expensive -- in California. The
utility closes the faucets on its dams at night during the summer, storing
water while meeting local electricity needs with cheap off-peak power brought
from across the West. In the morning, when prices peak, it opens the faucets
and zaps electricity off to California.
''We spill water during the day,'' Mr. Smith said. ''Why? Is it because we
can make more money? No. It's because that is when everybody wants
electricity, for God's sake.''
Questions about profit gouging on the part of dam-dependent utilities in the
Northwest may soon be moot. Drought has reduced the Columbia River runoff so
far this year to about half of what is considered normal.
The shortfall dovetails with higher costs for natural-gas-fired power plants
and a growing gap on the West Coast between demand for electricity and
capacity to generate it.
''Absent being successful in getting loads down, we could be looking at
quadrupling of the power rates,'' said Paul Norman, head of power operations
at Bonneville.
Unless conservation increases or the drought eases, Mr. Norman warned that by
late summer, the Northwest's era of cheap power could come to a sudden and
painfully expensive end.
Photo: Electricity generated by Rock Island Dam in Chelan County, Wash.,
helped the county's public utility earn a record $58.2 million in profits
last year. (Larry Davis for The New York Times)(pg. A20) Graph: ''The Public
Utilities'' NET OPERATING PROFITS Graph tracks operating profits since 1995
for the following: Grant County Wnapum and Priest Rapids Dams Chelan County
Rocky Reach and Rock Island Dams BC Hydro All major hydroelectric dams in
British Colombia (Source: The public utilities)(pg. A20) Chart/Map: ''One
River's Bonanza'' Some public utilities that own dams along the Columbia
River, which has one third of the hydroelectric potential in North America,
are selling power to California and making record profits. Map of the United
States and Canada follows the path of the Columbia River. (pg. A20)
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A Section
Bush Energy Plan Will Emphasize Production; Cheney: Conservation Is Part of
Effort
Mike Allen
?
05/01/2001
The Washington Post
FINAL
Page A01
Copyright 2001, The Washington Post Co. All Rights Reserved
TORONTO, April 30 -- Vice President Cheney said today that the Bush
administration's energy policy will emphasize increased generation over
conservation and rely on an ambitious expansion of the country's oil, coal
and natural gas industries in addition to a broader reliance on nuclear
power.
Providing a preview of the recommendations the administration's energy task
force will make to President Bush in the next few weeks, Cheney said he sees
no "quick fixes" to the problems that have led to rolling blackouts in
California and forecasts of higher gasoline prices for motorists this summer.
"The potential crisis we face is largely the result of short-sighted domestic
policies -- or, as in recent years, no policy at all," Cheney told editors
and publishers at the Associated Press's annual meeting. "As a country, we
have demanded more and more energy. But we have not brought online the
supplies needed to meet that demand."
He said 1,300 to 1,900 new power plants will be needed over the next 20
years.
Cheney, who is heading the task force that has been meeting in private since
January, provided few details of the panel's conclusions. He said it would
recommend "a mix of new legislation, some executive action as well as private
initiatives" to bolster energy production.
But he made clear that the administration will base its policy on promoting a
vigorous expansion of the traditional energy industry and will avoid the
kinds of austerity measures that marked the country's response to the energy
crisis in the 1970s.
"To speak exclusively of conservation is to duck the tough issues," Cheney
said. "Conservation may be a sign of personal virtue, but it is not a
sufficient basis -- all by itself -- for a sound, comprehensive energy
policy."
Cheney said alternative energy sources such as wind and solar power may
provide an important part of the country's energy strategy in the years to
come but that it is premature to rely on them now. "Years down the road,
alternative fuels may become a great deal more plentiful," he said. "But we
are not yet in any position to stake our economy and our own way of life on
that possibility."
Bush promised during last year's campaign to develop a muscular national
energy strategy, and named Cheney to head the task force less than two weeks
after taking office. Various sectors of the energy industry have billions of
dollars riding on the outcome of the administration's policy review.
Cheney said the plan will call for increased exploration for new sources of
oil, coal and natural gas, and construction of refineries, plants and
pipelines. He reiterated the administration's support for drilling in
Alaska's Arctic National Wildlife Refuge, which he said could be tapped for
oil without disrupting its environment.
Cheney, who was chairman of the oil services firm Halliburton Co. before
taking office, called coal "the most plentiful source of affordable energy in
the country" and said it will remain the nation's primary source of
electricity for years.
"Coal is not the cleanest source of energy," Cheney said, "and we must
support efforts to improve clean-coal technology to soften its impact on the
environment."
The vice president called nuclear power one of "the cleanest methods of power
generation that we know."
"But the government has not granted a single new nuclear power permit in more
than 20 years," Cheney said. "If we're serious about environmental
protection, then we must seriously question the wisdom of backing away from
what is, as a matter of record, a safe, clean and very plentiful energy
source."
Officials with the coal and nuclear power industries, which have had little
to celebrate in recent years, welcomed Cheney's remarks.
"Bless his heart," said Bill Raney, president of the West Virginia Coal
Association. "We have been something of the whipping child for some time now.
This is kind of like your dad when he compliments you when you were growing
up. We've got people in Washington talking to us now."
Steve Kerekes, a spokesman for the Nuclear Energy Institute, said it was
"heartening to see that the administration is not only recognizing but
publicly acknowledging the positive role that nuclear energy plays in a
diverse portfolio of energy sources."
Several environmental groups said the policy outlined by Cheney could negate
whatever good will the administration had gained with its recent spate of
environmentally friendly announcements. Philip E. Clapp, president of the
National Environmental Trust, called Cheney's prescription "an
across-the-board attack on the environment."
Lois Corbett, executive director of the Toronto Energy Alliance, said: "I'd
hate to think we'll have to throw up a huge iron curtain to keep American
smog and acid rain on the American side. Clean-coal technology is an
oxymoron. It's a dirty fuel."
Raney and other coal industry officials were summoned to an administration
briefing last week in which Energy Secretary Spencer Abraham and other
administration officials promised that coal would be a key part of the energy
policy.
Attendees said that although no specifics were discussed about tax breaks or
relaxed regulations, they were assured the administration would work for a
more stable and predictable process of getting permits to build or renovate
coal-fired generating plants.
Administration officials said Bush's budget includes $150 million for
developing clean-coal technology, new methods for converting coal to energy
that result in less pollution. Cheney called conservation "an important part
of the total effort."
Contact: http://www.washingtonpost.com
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Western Dreaming -- a buyer's cartel 5/1/01
By Kathleen McFall
[email protected]
In California, the cost of electricity was $7 billion in 1999, $32 billion
last year, and if expectations hold true, will rise to $65 billion this year,
said California Sen. Dianne Feinstein recently. As a consequence of this
escalation, the pressure is mounting on state and federal legislators to
solve the California crisis*or to find someone else to blame it on. It's
increasingly looking like political suicide to do nothing.
Initiatives and insults are flying, and the only consensus in this
politically charged debate is that Western states are facing a grim summer,
and merchant power companies*an easy target*are somehow fleecing California.
In this atmosphere, an interesting, albeit fringe, idea was recently posed in
a report by economist Peter Navarro of the University of California-Irvine
and Michael Shames of the San Diego-based consumer group the Utility
Consumers' Action Network (UCAN).
"California should join with Oregon and Washington to create a buyers' cartel
to offset the market power of the Western generators. This multistate buyers'
cartel should offer to pay a reasonable price for power to the sellers'
cartel members*but not a penny more," said the report.
The report named Mirant, Enron, Dynegy, Reliant and Williams Cos. as members
of a "sellers' cartel."
While the idea may be organizationally untenable, it nevertheless places the
California situation in an interesting conceptual framework, given the
politicization of the crisis. It's certainly an approach many politicians
would rally around if they could figure out a way to use it to reduce OPEC's
market influence.
The buyers' cartel
Shames, a consumer advocate, gained notoriety as the author of a 1999 paper
(posted on UCAN's Web site) that predicted today's energy crisis. He said the
idea has garnered a positive response, in some circles.
"Surprisingly so," Shames said. "Supportive sentiments have been echoed by
the head of DWR [California Department of Water Resources] and a number of
economists including Paul Krugman in a New York Times op-ed piece." According
to Shames, the recent Senate Bill SBX-73 introduced in California embodies
the critical elements of the cartel approach.
UCAN proposes the approach only as a backup plan in the event that the
Western situation turns catastrophic this summer. "One could view it as an
insurance policy; it would not need to be used unless the governor's summer
strategy begins to falter. It contains two elements: creation of a hard-nosed
'buyers' cartel' and, if necessary, the forced sale of in-state generation
plants to the state," said the report.
Each day, a Western states buyers' cooperative would set a price it considers
fair and reasonable, based on the cost of producing electricity, natural gas
prices or other fuels, and a generous double-digit profit margin in order to
ensure future investment in the power infrastructure.
A power plant operator that wanted to sell electricity in these three Pacific
Coast states would meet the price set by the cooperative. Those who didn't
like the price could shut down their plants and sit out the market for the
day, said Shames and Navarro.
For this plan to be effective, the report's authors concede California's
legislature would have to pass emergency legislation to modify current law
requiring California's independent system operator to purchase power "at any
price" to keep the lights on.
"This will empower the buyer's cartel to enforce its fair price offer," said
the report. It would also hold consumers hostage to a battle between cartels.
Blackouts as leverage
"The formation of a buyers' cartel will almost certainly spark retaliatory
blackouts as the sellers' cartel tests the political will of our legislators
and governor. Indeed, the bold measures proposed here will require political
fortitude," the report asserts.
To respond to this eventuality, instead of random rolling blackouts sweeping
the state without notice, rotating outages would be planned and telegraphed
ahead of time. "That would give predictability to business and residents,
which is what most people want. It also would tip off the crooks, of course,
who might prey on homes suddenly left without alarms. But the cops,
forewarned as well, could mobilize ahead of them with extra patrols,"
suggests the report.
The authors believe calling the bluff once or twice would be enough to bring
costs down to reasonable levels and break the "seller" cartel's market grip.
Merchant power companies would have to answer both to stockholders and the
outrage of public opinion if plants were intentionally idled during a
blackout. Blackouts appear to be inevitable this summer due to genuine power
shortages, but this approach would at least contain the price of available
power according to the logic of the report. The authors say that it's "a plan
that a free-market economist could love. Buyers pooling their clout to win a
better price. People sacrificing to get what they want. Generators free to
participate, or not."
If the blackouts grew too disruptive, Shames and Navarro said, Gov. Gray
Davis and his counterparts in Oregon and Washington would have to use
emergency powers to seize the plants that refuse to play the game. That's
when things would get ugly.
Bunker mentality
The Shames and Navarro proposal has, at its core, a presumption of unfair
practices by merchant power, something these companies and other economists
would certainly refute. Ironically, this cartel approach could work in favor
of merchant power as well as buyers, demonstrating that blackouts are not
linked to market manipulation.
Beyond theory, the idea would be difficult from a practical standpoint yet it
illustrates the growing frustration at many levels with the extraordinary
Western power market. As the report's authors conclude, by this summer, with
the air conditioning off and California's budget in tatters, "a buyers'
cartel could look downright reasonable." | {
"pile_set_name": "Enron Emails"
} |
The news that we are buying the "Pliego" may be mis-interpreted that Enron is
changing its posture and -- those crazy people in Enron South America are
going back purchasing assets.
Mike wants to buy the document to analyze how Enron my be able to participate
in this market. He has made it clear to the local officials that we do not
intend to buy the distribution wires. Please pass the word if it comes up.
Jose
---------------------- Forwarded by Jose Bestard/ENRON_DEVELOPMENT on
06/08/2001 11:41 AM ---------------------------
Michael Guerriero@ENRON
06/08/2001 07:25 AM
To: Joe Kishkill/SA/Enron@Enron, Orlando Gonzalez/SA/Enron@Enron, Keith
Miceli/Corp/Enron@Enron, Brett R Wiggs/SA/Enron@Enron, Remi
Collonges/SA/Enron@Enron, Britaldo Soares/SA/Enron@Enron, Jose
Bestard/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Sergio Assad/SA/Enron@Enron,
Buenos Aires Argentina - Office Staff, Maria Ines Granado/SA/Enron@Enron,
Guillermo Atenor/SA/Enron@Enron, Diego Hollweck/SA/Enron@Enron, Bernardo
Andrews/SA/Enron@Enron, Julian Poole/SA/Enron@Enron, Rodolfo
Freyre/SA/Enron@Enron, Patrick Hansen/SA/Enron@Enron, Federico
Cerisoli/SA/Enron@Enron, Roberto Volonte/ENRON@enronXgate, Guillermo
Canovas/SA/Enron@Enron
cc:
Subject: Epec Privatisation
We have just completed our review the Epec distribution assets and the final
meeting with senior representatives of the Epec privatisation. We have
concluded there is limited value in Enron pursuing the regulated wires
business but also that there is potential value in Epec's generation assets
such as the Rio Grande Peaking Unit and other commercial opportunities in
Cordoba. To this end we are purchasing the distribution pliego of Epec to
gather pertinent energy market information.
In the next week you may see Enron being listed as a purchaser of the Epec
pliego. To avoid any confusion, particularly for our Argentine employees, I
am informing all of you of our commercial intentions are still to pursue the
peaking assets and other commercial opportunities in Cordoba.
Please let me know if you have any questions.
MFG | {
"pile_set_name": "Enron Emails"
} |
From Enron Corp Business Controls
Operations in Enron's Crisis Management Center will cease at the close of business in Houston on September 12. All inquiries or information pertaining to the events of the last two days should now be directed to Enron Corp Business Controls at 713.345.2804. In the event immediate assistance is required after hours, the Business Controls telephone number will be answered by the 24x7 security desk which can have a representative from Business Controls return your call immediately.
With respect to employees stranded around the United States, we regret that these employees should make their way back to Houston or their home office as best they can via commercial airlines, train, or rental car. Unfortunately, corporate and other private aircraft will not be flying until sometime after restrictions are lifted on commercial carriers. Therefore, Enron corporate aircraft should not be counted on to provide assistance in this situation. | {
"pile_set_name": "Enron Emails"
} |
Williams to Expand Kern River by 124,500 Dth/d
Kern River Gas Transmission, a subsidiary of Williams, said it planned on
filing an application yesterday with FERC to add 124,500 Dth/d of additional
firm transportation capacity to its 922-mile pipeline system. The company
said the California Expansion Project will not only provide additional
natural gas capacity from Wyoming to markets in California, but also will
provide an opportunity for Williams to offer significantly reduced rates for
firm transportation based on the recent approval by FERC of Kern River's
Extended Term Rate Program.
"A combination of rapid growth and the development of new gas-fired power
generation facilities in California is fueling expansion of the system," said
Kirk Morgan, director of business development for Kern River and Northwest
Pipeline.
The project includes construction of three new compressor stations, an
additional compressor at an existing facility in Wyoming, restaging a
compressor in Utah, and upgrading two meter stations. Kern River said the $80
million project is targeted to be complete by May 1, 2002.
The company said demand for firm transportation on Kern River was driven by
several factors: the diversion of Canadian gas supplies to markets in the
Midwest from the Pacific region; increased production in the Rocky Mountain
basin; strong economic growth in Kern River's market areas; and increased
demand from gas-fired electric generation facilities.
Williams said it anticipates holding an open season later this year to
determine the level of market interest in a second expansion of the Kern
River pipeline. "The demand for competitively priced transportation to
markets in Nevada and California continues to grow. At the same time, gas
producers in the Rocky Mountain basin are stepping up production. An
expansion on Kern River in 2003 could help bring that production to market,"
said Morgan. | {
"pile_set_name": "Enron Emails"
} |
---------------------- Forwarded by Phillip M Love/HOU/ECT on 01/31/2001
10:10 AM ---------------------------
From: Veronica Espinoza @ ENRON
01/31/2001 09:28 AM
To: Larry Joe Hunter/HOU/ECT@ECT, Bob Bowen/HOU/ECT@ECT, Kim S
Theriot/HOU/ECT@ECT, Melinda Whalen/CAL/ECT@ECT, Dianne Seib/CAL/ECT@ECT,
Janie Aguayo/HOU/ECT@ECT, Derek Bailey/Corp/Enron@ENRON, Kevin
Meredith/Corp/Enron@ENRON, Ellen Wallumrod/NA/Enron@ENRON, Celeste
Cisneros/NA/Enron@Enron, Diane Anderson/NA/Enron@Enron, Tiffany
Williams/NA/Enron@Enron, Cindy Feldman/CAL/ECT@ECT, Patricia
Boulanger/CAL/ECT@ECT, Linda Sietzema/CAL/ECT@ECT, Sharon
Crawford/CAL/ECT@ECT, Debbie R Brackett/HOU/ECT@ECT, Tanya
Rohauer/HOU/ECT@ECT, Tom Moran/HOU/ECT@ECT, William S Bradford/HOU/ECT@ECT,
Russell Diamond/HOU/ECT@ECT, Lesli Campbell/HOU/ECT@ECT, Nidia
Mendoza/HOU/ECT@ECT, Jeffrey C Gossett/HOU/ECT@ECT, Kam Keiser/HOU/ECT@ECT,
David Baumbach/HOU/ECT@ECT, Errol McLaughlin/Corp/Enron@ENRON, Darron C
Giron/HOU/ECT@ECT, Walter Guidroz/NA/Enron@Enron, Leslie Reeves/HOU/ECT@ECT,
Veronica Gonzalez/HOU/ECT@ECT, Phillip M Love/HOU/ECT@ECT
cc: Brant Reves/HOU/ECT@ECT
Subject: Credit Report--1/31/01 | {
"pile_set_name": "Enron Emails"
} |
All,
Thanks for your particpation in last week's trading track. For your information the following people will be extended offers to join the program later today:
Seung-Taek Oh
Charles Weldon
Bryce Schneider
Biliana Pehlivanova
Wes Mitchell
Darren Espey
Emil Carlson
John L will meet with Justin O'Malley tomorrow am for a final interview.
For those internal candidate who were not sucessfull I will call them.
Rgds,
Karen. | {
"pile_set_name": "Enron Emails"
} |
Buy wholesale direct from the manufacture and cut out the middle man!!
Save 75% to 85% on items you use every day. TonerBuys.com. BLASTS the
" superstores" and all "Internet sites" For all Inkjets, Laser
Cartridges, and fax supplies. Epson and Canon Inkjets starting at
$1.99. Hewlett Packard starting at $13.50. Laser Cartridges starting
at $21.00. We carry all major brands Hewlett Packard, Canon, Lexmark,
Brother etc.
Check Out - www.TonerBuys.com and stop throwing your money away.
All products 100% Guaranteed!!!
Sincerely,
TonerBuys.com.
"Quality is our Guarantee"
**Current Coupon Special code "AZRYAN" for free shipping on USA orders above $125.00.
This message is intended to benifit the recipient.
If you would like to be removed please let us know by
emailing us at [email protected] and put your
email address in the subject line. | {
"pile_set_name": "Enron Emails"
} |
Looks good except for settlement period. Industry standard and for ease to
Enron, a spread trade is treated as two separate trades. Therefore, there
will be two settlement periods for the respective legs of the transaction.
The file below states settlement period is 5 days after both legs have been
set. Please change to 2 settlement periods, 5 days after each respective leg
has been set.
John
Enron North America Corp.
From: Kevin Meredith @ ENRON 02/16/2001 10:24 AM
To: John Arnold/HOU/ECT@ECT, Dutch Quigley/HOU/ECT@ECT, Peter F
Keavey/HOU/ECT@ECT, Fletcher J Sturm/HOU/ECT@ECT, Sean Crandall/PDX/ECT@ECT
cc: Robert B Cass/HOU/ECT@ECT, Savita Puthigai/NA/Enron@Enron
Subject: US Spread Product
The attached spread product description has been created using a Nymex
financial gas spread as the example. Possible permutations to this product
have been listed below the description. Please review the product
description and provide any suggestions, improvements, and/or additional
permutations that have not been considered.
Thank you.
Kevin | {
"pile_set_name": "Enron Emails"
} |
FYI Jeff Donohue is OK with the ABB exclusivity agreement
I was serious about Parquet and Mcdonald
Chris Calger
503-464-3735
-----Original Message-----
From: Donahue, Jeff
Sent: Monday, October 01, 2001 3:15 PM
To: Calger, Christopher F.
Subject: RE: Transmission Line Project-ABB Agreement
Chris:
Looks fine to me - particularly if Lance has OK'ed it.
Hope all's going well.
Jeff
-----Original Message-----
From: Calger, Christopher F.
Sent: Friday, September 28, 2001 2:19 PM
To: Donahue, Jeff
Subject: FW: Transmission Line Project-ABB Agreement
Jeff,
Per my voicemail.
Regards,
Chris Calger
503-464-3735
-----Original Message-----
From: Rasmussen, Dale
Sent: Friday, September 28, 2001 10:42 AM
To: Mays, Wayne; Parquet, David; Etringer, Michael
Cc: Tweed, Sheila; Calger, Christopher F.; Schuler, Lance (Legal)
Subject: Transmission Line Project-ABB Agreement
Re-sending with minor changes to the prior documents. A clean copy is now provided.
Lance Schuler advised me that it is now Jeff Donahue, rather than Mark Metz, that needs to sign off on Corp's behalf, and that either Tim Detmering, Louise Kitchen or John Lavorato can approve on behalf of ENA.
<< File: 092701 ABB Power T&D Co. Inc. Confid Agr-No Separate Agreement.doc >> << File: 092701 ABB Power T&D Co. Inc. Confid Agr-No Separate Agreement-Clean.doc >>
A redraft of the ABB confidentiality/exclusive dealings agreement is attached for review and comment.
This document is based on the form ABB provided and for which ABB has expressed a strong preference.
This draft calls for bilateral exclusivity for the Term (2 years). As several of us have discussed, this will prevent ENA from choosing an alternative technology or supplier during that time should it choose to construct a DC transmission line within a 15-mile radius of San Francisco. As I understand it, we are prepared to link arms with ABB to do this project because ABB is the premier supplier of this type of equipment.
Based on recent discussions between Wayne and ABB, the language necessary for creating the exclusivity arrangement has been added to the form of confidentiality agreement that we had been working on with ABB earlier. The added language is somewhat lengthy, but was necessary to establish the relationship and at the same time protect ENA against arguments that we are obligated to proceed with the potential transaction.
Because this transaction does commit ENA to exclusivity obligations I understand that we will need to talk with Tim Detmering and Mark Metz about the transaction.
Please let me know of comments.
Dale Rasmussen
Tel: (503) 464-8863
Fax: (503) 464-8058 | {
"pile_set_name": "Enron Emails"
} |
sure.
do you and Shanna want to go to the Prince concert? Tickets go on sale
tomorrow.
Brian T. Hoskins
Enron Broadband Services
713-853-0380 (office)
713-412-3667 (mobile)
713-646-5745 (fax)
[email protected]
Eric Bass@ECT
11/17/00 08:30 AM
To: Shanna Husser/HOU/EES@EES, Timothy Blanchard/HOU/EES@EES, Matthew
Lenhart/HOU/ECT@ECT, Chad Landry/HOU/ECT@ECT, Bryan Hull/HOU/ECT@ECT, Brian
Hoskins/Enron Communications@Enron Communications, Hector Campos/HOU/ECT@ECT,
Luis Mena/NA/Enron@Enron, Lisa Gillette/HOU/ECT@ECT, Christa
Winfrey/HOU/ECT@ECT
cc:
Subject: Keneally's
Anyone up for Keneally's after work today? | {
"pile_set_name": "Enron Emails"
} |
Look again and let me know. I had problems seeing the volumes at first, THEN
I opend my eyes. Makes a world of difference!
Crystal Hyde
11/08/2000 02:10 PM
To: Chris Germany/HOU/ECT@ECT
cc:
Subject: Re: EGAN Storage
Chris,
I am still seeing zero volumes on those exchange tickets. Whats up with that? | {
"pile_set_name": "Enron Emails"
} |
Dude--- There has been a change in plans. I am arriving on the same day(this
Sunday) but I have to leave the following Sunday( the 25th) Let me Know your
plans. | {
"pile_set_name": "Enron Emails"
} |
Same thing for Trco k#.7537, deals 232576 and 271489
---------------------- Forwarded by Chris Germany/HOU/ECT on 02/07/2001 10:13
AM ---------------------------
From: Chris Germany 02/07/2001 10:04 AM
To: Marlene Hilliard/HOU/ECT@ect
cc:
Subject: Trco contracts
I changed the end date to 12/31/2000 on Trco k#2.2390, deals 77157 and
320086. I had it set up as evergreen. | {
"pile_set_name": "Enron Emails"
} |
---------------------- Forwarded by John Arnold/HOU/ECT on 05/10/2001 02:21 PM ---------------------------
"Schaefer, Matthew" <[email protected]> on 05/10/2001 01:26:57 PM
To: Brad Banky <[email protected]>, David Rosenberg <[email protected]>, James Haupt <[email protected]>, Jeff Frase <[email protected]>, Jeff Ong <[email protected]>, Jim Adams <[email protected]>, John Arnold <[email protected]>, Kayvan Scott Malek <[email protected]>, Michael Maggi <[email protected]>, Robert Collins <[email protected]>, Russ Knutsen <[email protected]>, Sanjiv Khosla <[email protected]>, William Coorsh <[email protected]>
cc:
Subject: Option Advisory Committee Meeting May 31
Please be advised that the Option Advisory Committee meeting will be at 4:00
eastern time, May 31, 2001.
Matthew Schaefer
New York Mercantile Exchange
212.299.2612 | {
"pile_set_name": "Enron Emails"
} |
&The future is something which everyone reaches at the rate
of 60 minutes an hour(whatever he does, whoever he be.8 - C.S. Lewis
Watch the Enron Building lobby on Tuesday, April 24th, from 11:30am to 1:00pm
for information on innovative and futuristic technology!
Featuring:
Dr. Peter Bishop, Professor and Chair of the Future Studies Graduate Program
at the University of Houston
Mr. Clay Anderson, Astronaut at NASA
Gadgets & Gizmos by Oxford Technologies
Robotic Display by Students from Yates High School
Special Afternoon Workshop - 1:30pm to 3:30pm
"Images of Enron in 20208 with Dr. Peter Bishop & Amy Oberg
Join Amy Oberg with EES and Dr. Peter Bishop, Chair & Professor of the
University of Houston's Future Program,
to imagine Enron in the year 2020. Attendees will actively engage in this
participatory workshop with the final summary
to be shared with Mr. Skilling's office. "Futures tools" will be utilized to
consider Enron's characteristics, culture,
businesses and the world environment and participants will explore how the
future might play out for Enron.
The results of this session will be shared with Mr. Skilling's office. RSVP
to Jessica at x31918 - space is limited
Word of the Day
prescience \PREE-shuns; PREE-shee-uns\, noun:
Knowledge of events before they take place; foresight. | {
"pile_set_name": "Enron Emails"
} |
in that case I am glad I didnt elaborate. I just said I know you hit me there on purpose
-----Original Message-----
From: Ward, Kim S (Houston)
Sent: Monday, October 22, 2001 1:50 PM
To: Maggi, Mike
Subject:
whatever it was, I think you sent the email to Kim E. Ward in London. Please resend to Kim S. Ward in houston. | {
"pile_set_name": "Enron Emails"
} |
415.228.4550
code 92105 | {
"pile_set_name": "Enron Emails"
} |
So I've joined the real world - and it got me a trip to Vegas (Day of the
Trader in Dec). All roads wind up in Vegas.
How's it going with my buddy Dorsey? I assume since you didn't answer the
last 2 times I asked, you won't answer this one.
Hope all is well.
See you soon.
Jay Perl
Sempra Energy Trading
office: 203-355-5074
cell: 914-261-6025
email: [email protected]
****************************************************************************
This e-mail contains privileged attorney-client communications and/or
confidential information, and is only for the use by the intended recipient.
Receipt by an unintended recipient does not constitute a waiver of any
applicable privilege.
Reading, disclosure, discussion, dissemination, distribution or copying of
this information by anyone other than the intended recipient or his or her
employees or agents is strictly prohibited. If you have received this
communication in error, please immediately notify us and delete the original
material from your computer.
Sempra Energy Trading Corp. (SET) is not the same company as SDG&E or
SoCalGas, the utilities owned by SET's parent company. SET is not regulated
by the California Public Utilities Commission and you do not have to buy
SET's products and services to continue to receive quality regulated service
from the utilities.
**************************************************************************** | {
"pile_set_name": "Enron Emails"
} |
Tammie,
Attached is the Global Risk Management Operations update for Louise's weekly
report, week ending February 15.
If you have any questions, please let me know.
Thanks,
Brian | {
"pile_set_name": "Enron Emails"
} |
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