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All,
Please plan to attend the project status meeting for the ERMT database migration to Oracle 8i, scheduled for July 14. If you're unable to attend, please send a representative on your behalf.
Thanks & regards,
Karima Husain
Project Manager, TAGG/ERMS
(713) 345-7252
|
{
"pile_set_name": "Enron Emails"
}
|
Actually, cheeseburger and a shake!!
---------------------- Forwarded by Chris Germany/HOU/ECT on 04/05/2000 11:53
AM ---------------------------
Chris Germany
04/05/2000 11:53 AM
To: [email protected]
cc:
Subject: Cheese
I guess you won't be taking me out for a cheeseburger this evening will you ?
|
{
"pile_set_name": "Enron Emails"
}
|
Jeff / Mike
Here is the limit request for European weather limits.
Thor
|
{
"pile_set_name": "Enron Emails"
}
|
time to break out some of the old plays?
---------------------- Forwarded by Eric Bass/HOU/ECT on 10/18/2000 11:39 AM
---------------------------
Enron North America Corp.
From: Eric Bass 10/18/99 06:03 PM
To: Timothy Blanchard/HOU/EES@EES, Matthew Lenhart/HOU/ECT@ECT
cc:
Subject: MORE PLAYS
|
{
"pile_set_name": "Enron Emails"
}
|
Sara:
I presume RBC is Royal Bank of Canada.
What does SEB stand for?
-----Original Message-----
From: Shackleton, Sara
Sent: Wednesday, January 16, 2002 3:23 PM
To: Aronowitz, Alan
Cc: Tweed, Sheila
Subject: in-the-money settlements
The following parties have either tired of speaking with us or would still like to agree to settlement:
San Diego Gas & Electric (Not Terminated)
RBC
SEB
Francisco was handling SDG&E; I have been working on the latter two (which were both subject to termination notices).
Sara Shackleton
Enron Wholesale Services
1400 Smith Street, EB3801a
Houston, TX 77002
Ph: (713) 853-5620
Fax: (713) 646-3490
|
{
"pile_set_name": "Enron Emails"
}
|
SALARIES, SALARIES, SALARIES!!! Everyone is having problems.
Unfortunately, many of
you are new to your jobs and did not inherit paperwork to know what your
staff's salary is. I have the average
salary for each of the different staffing levels. I have asked the HR
department to also give me
the low and the high. Let's face it - your staff today and their salary most
likely are not what
they are going to be next year! To much movement of people. So using
estimates and averages
will probably be as accurate as using current salary levels.
Here's what you can do:
1) Make a list of your staff just their positions.
2) Then put down if you think I should budget high, mid, average, low, low to
average, etc.
You can guess at this based on their experience, length of time in that
position, etc.
3) Then I will calculate out an estimated salary to use for your budget.
4) Here is the average:
Sr. $4,961
Spec $3,964
Staff $3,026
Sr. Clrk $2,548
Clerk $2,264
Asst $3,162
Your list would look something like this:
Assistant Average
Clerk Very High
Sr. Clerk Low
Specialist Low to Average
Specialist Average
Sr. Specialist Average to High
Analyst (They are all allocated at the same amount)
You can , however, use the exact amounts if you have them. It's up to you.
Next Item - TRAINING!!!
Here's what you can do:
1) List your staff and the type of class they need
2) If you don't know the exact class you want to send them to, then list what
type
of class - for example personal enrichment (i.e. Time Management) or
Technical (Derivatives or Applied Finance or Wellhead to Burnertip)
3) The personal enrichment classes cost aroung $500-$700
4) The technical classes cost aroung $800 - $1000.
5) Just list the type of class, and I'll do the rest.
Next Item - Headhunters!
Try 20% of the new hires salary for their fees.
Other Stuff - I have made a list of all of the unusual items we do during the
year that
people forget about at budget time (i.e. flowers for secretaries day, birthday
ice cream, offsite meeting costs, customer gifts). If you forget these
items, I will
make sure it is added to your budget.
Once I put all of your budget information into the spreadsheets, we will
review them
so that they can be adjusted as necessary and you can approve them.Hopefully
this helps you some.
Diane x-37059
|
{
"pile_set_name": "Enron Emails"
}
|
Haas Computing Services Staff will be hosting the following application
workshops. Additional workshops including evening sessions have been added.
MyHaas Demos (portal tour, customize space, subscribe to services, create
channels)
Thursday, Sept 27, 5:30 - 6:30 (F310) Cyhnthia Hu
Friday, Sept 28, 9:30 - 10:30 (F310) Jesse
Excel A: basic overview
Thursday, 9/27, 11am-12pm. (F310) Joe and Sophia
Excel B: (Solving problems, commenting, Keyboard shortcuts, Paste Special,
Find/Replace, Sorting Data, Tracking changes, Formatting Cells,
Header/Footers)
Wednesday, 9/26, 6pm-7pm (F310) Howard and Bruce
Thursday, 9/27, 2:30-3:30 (F310) Howard and Bruce
Excel C: (report consolidation, pivot tables, charts)
Tuesday, 9/25, 10am-11am (F310) Kathleen
Thursday, 10/4, 9:30-10:30am (F310) Kathleen
*Monday, 10/8, 7:30 - 8:15 (S300T) Kathleen
*Tuesday, 10/16, 7:30 - 8:15 (S300T) Kathleen
Excel D: (Formatting, Formulas, Printing)
*Monday 10/1, 7:30 - 8:15 (S300T) Kathleen
*Thursday, 10/11, 7:30 - 8:15 (S300T) Kathleen
Powerpoint A: (work with different views, add slide components, create
charts and graphs, print slides, handouts, speaker's notes, make a
presentation from scratch)
Tuesday, 10/2, 5:00-6PM (F310) Cynthia and Agnes
Wednesday, 10/3, 5:00-6PM (F310) Cynthia and Agnes
Powerpoint B: (create design templates, edit master slide, add animation,
slide transitions, control timing, overview of multimedia features)
Tuesday, 10/9, 5:00-6PM (F310) Cynthia and Agnes
Thusday, 10/11, 5:00-6PM (F310) Cynthia and Agnes
Photoshop: basic overview
Monday Oct 22, 4pm (F310) Tracy
Thursday, Nov. 1, 10am (F310) Tracy
Sign ups are available on the training board next to the Computer Lab
Entrance. Or you may reply to this email indicating which classes you'd
like to attend.
Thanks
Kathleen Valerio
Manager,Training/Operations
Haas Computing Services
Haas School of Business
S545 Student Services Bldg. #1900
Berkeley, CA 94720-1900
Work: (510) 642-8438
FAX : (510) 642-5307
|
{
"pile_set_name": "Enron Emails"
}
|
Fletch-
We are moving all relevant Risk Management files over to the new environment, but will not be doing anything with specific files used only by the trading group. If any of you had an templates or files that you used to follow your positions or estimate your curve shift outside of the Curve Manager, you will need to identify and move those (or possibly have your analysts move them?).
Let me know if you have any questions about specific Risk related files you would like to ensure are being moved.
Thanks-
Andrea
-----Original Message-----
From: Sturm, Fletcher J.
Sent: Wednesday, February 06, 2002 11:25 AM
To: Dahlke, Andrea
Subject: FW: Migration
-----Original Message-----
From: Sturm, Fletcher J.
Sent: Wednesday, February 06, 2002 11:24 AM
To: Evans, Casey
Subject: Migration
Casey,
Are you guys going to be responsible for moving all relevant power files from the O: and M: drives to UBS? If so, thanks. If not, who is? Thanks,
Fletch
|
{
"pile_set_name": "Enron Emails"
}
|
John still wants to hold off on a document review, as we don't know if we
want to go forward.
Kay
---------------------- Forwarded by Kay Mann/Corp/Enron on 05/11/2001 01:52
PM ---------------------------
John Llodra
05/11/2001 01:33 PM
To: Mark Dana Davis/HOU/ECT@ECT, Kevin M Presto/HOU/ECT@ECT, W David
Duran/HOU/ECT, Tom May/Corp/Enron@Enron, Lloyd Will/HOU/ECT@ECT, Jim
Meyn/NA/Enron@Enron, Nick Hiemstra/HOU/ECT@ECT, Kay Mann/Corp/Enron@Enron,
Howard Fromer/NA/Enron@Enron, Edward Sacks/Corp/Enron, Paul Radous/Corp/Enron
cc:
Subject: NiMO
All:
Attached for your records is a copy of the final version of the proposal
letter that went out to NiMo last week.
Also attached below is a first set of clarification questions I receved from
Navigant regarding our proposal. Responses to these questions are due no
later than Weds 5/16 and we will be working to respond to these in an
appropriate fashion. You will see that the questions are rather shallow and
do not really provide any sense as to their reaction to our proposal. I have
left msgs with the folks at Navigant so that I may speak with them in an
attempt to cut to the chase and discern what NiMO's true intentions are at
this point. I do not want to waste time answering these questions and
marking up the proposed contracts if they ultimately will decide to take
another course of action. My hope is to get a mtg with NiMO ASAP and
short-circuit the RFP process as soon as possible.
Please provide any comments on the attached questions by Monday so that we
can decide our form of response by Wednesday. Kay - you will note they
requested markups of the Transacton Docs -- let's continue holding off until
I can get a better read if it will be worth the effort. Ed/Paul - note the
questions on how much credit requirements we have assumed. I don't know how
much more clearly we can state the fact that we require a claim on ALL of
NiMOs assets, but any appropriate elaboration on this would be appreciated.
John
---------------------- Forwarded by John Llodra/Corp/Enron on 05/11/2001
02:22 PM ---------------------------
[email protected] on 05/10/2001 02:01:44 PM
To: [email protected]
cc: [email protected], [email protected], [email protected],
[email protected]
Subject: NMPC Questions
Hi John,
It was great to see you the other day -- here are the questions that Lisa
promised you.
Perrin
(See attached file: Enron - Cover Letter.doc)(See attached file: Enron.doc)
- Enron - Cover Letter.doc
- Enron.doc
|
{
"pile_set_name": "Enron Emails"
}
|
---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 01/26/2001
04:33 PM ---------------------------
Kristin Walsh
01/25/2001 11:23 AM
To: John J Lavorato/Corp/Enron
cc: Jeffrey A Shankman/HOU/ECT@ECT, Gary Hickerson/HOU/ECT@ECT, Richard
Shapiro/NA/Enron@Enron, Vince J Kaminski/HOU/ECT@ECT, James D
Steffes/NA/Enron@Enron, Michelle D Cisneros/HOU/ECT@ECT, Jeff
Kinneman/HOU/ECT@ECT, John Greene/LON/ECT@ECT, Jaime Gualy/NA/Enron@Enron,
Phillip K Allen/HOU/ECT@ECT, Mike Grigsby/HOU/ECT@ECT, Scott
Tholan/Corp/Enron@Enron, Robert Johnston/HOU/ECT@ECT
Subject: California Update 1/25/01
California Timeline:
February 2nd:
The state legislature has to pass the enabling laws to let the state pay for
the electricity from auction before the current emergency money runs out on
February 2. Republican leaders have vowed to block any additional emergency
funds.
The California courts gave Edison a two-week grace period (until February 2)
on demands by the California Power Exchange that Edison forfeit $215 million
in long-term low cost power contracts to the CPX for repayment of its debt.
Governor Davis told the Court that he may absorb that contract in favor of
taxpayers using his emergency "taking" powers.
February 7th:
President Bush, who had to intervene personally against his energy secretary
to extend the Energy Department order mandating electricity sales to
California by power generators, made it abundantly clear to all sides that
the two week deadline was hard and would not be extended.
February 13th:
Edison worked out a three-week grace period -- through February 13 -- with
all of its 32 banks and QFS to prevent from asking for accelerated repayment
during that period, but if the state has not figured out a way to bridge that
debt by then, this deadline could be a real trigger for bankruptcy.
Legislation
As mentioned in Tuesday's update, legislators are close to a long-term power
buying deal with the so-called "green" producers (wind, solar, hydro, cows)
of energy, accounting for 30% of California's total energy production. This
would allow the Department of Water Resources to buy power from them at 8
cents per kilowatt hour.
Bill AB1X--the key piece of legislation for setting long-term power
contracts--is still being mulled over in the Senate, but is expected to pass
this week. The keys issues is still the price, which will probably be
revised in accordance to the results of the auction. Other legislation has
been introduced, including three bills by Boxer that would increase federal
support and impose "windfall profits tax" for wholesalers that sell power at
"unfair and unreasonable" rates. The hydro legislation is still being
bantered about, however with going opposition from both Democrats and
Republicans.
Bail out scenarios
A new scenario is a market-oriented solution that would give the state of
California "warrants" on the PG&E and Edison stock in return for lending them
the money to get out of this current mess (still the problem of financing the
$6B vs. $12B). As the stock prices recovered, the state could cash in the
warrants and rebate to electricity users some of the emergency surcharge
needed to pay back the debt. This is exactly the plan used to bail out
Chrysler in the late 1970s and it worked wonders for taxpayers then. This
senario would also provide Davis with some political cover, as the idea of
rebates are far more appealing than price increases. Lots of details remain
to be worked out, but even the consumer activist groups threatening to create
propositions on fall ballots appeared to like this deal.
Bankruptcy
Socal is close to an agreement with 32 bank creditors and QFs to allow a
forbearance on debt payments through February 13th. However, it is not
expected that the bondholders would agree to this type of deal. The
bondholders could try to force the utilities into involuntary bankruptcy, but
would probably be unsuccessful. As long as Socal continues working with
their creditors and show "good faith" any bankruptcy at this time would have
to be voluntary. As this date (Feb. 13th) fast approaches, the state will
have to take quick action and draft and approve legislation between the
governor, the generators and the utilities to prevent Socal and PG&E from
bankruptcy. As part of the forbearance agreement, Edison has contracted
with around 400 QFs and negotiations have been directed toward separating the
rate schedules of generation facilities fuelled between renewables and gas
fired generation. Socal is attempting to shift gas fired QFs to longer term
schedules in light of the recent higher gas prices.
Auction
After a nervous night when only one bid had come to the state's Internet site
by midnight on Tuesday, California officials were happy to announce that they
had almost 40 bids at an average of 6.9 cents per kilowatt-hour, below the
7.4 cent real cap state officials had set internally as the threshold between
doable and impossible. This was well above the 5.5 cent ceiling the governor
had publicly stated as the preferred level. Davis will now turn the
negotiating process over to David Freeman, who heads the Los Angeles electric
agency and is generally considered the dean of public-private utilities in
the west. One thing to note, the State of California has no intention of
any credit guarantees for the bids with the Department of Water Resources.
Several California legislators have made it very clear that they do not want
the state to be ultimately responsible for these power purchases.
|
{
"pile_set_name": "Enron Emails"
}
|
Thor,
Very creative and i bet everyone had fun. We need to try it over here. I
bet it would go over here as well. Thanks for sharing the story.
mike
Thor Lien
11/24/2000 01:22 AM
To: Mark Tawney/HOU/ECT@ECT, Jeffrey A Shankman/HOU/ECT@ECT, Mike
McConnell/HOU/ECT@ECT
cc:
Subject: Weather deals
As discussed with Mark, I have set up a summary of what we did to get people
interested in weather trading at the Marketing event that we had here in Oslo.
Background:
First we wanted to do something new that would promote Enron positively.
(There are a lot of conferences with happenings for power traders)
Most of the participants were traders or very interested in trading.
Could we do any deals that evening? We invited them because they should start
doing deals with Enron.
Several of the companies attending needed to change their risk policy to do
weather deals.
Lottery:
We made a lottery that was similar to a weather deal. But we made the option
premium to 15,- Nok and max payment if the option stroked to 100,- NOK. Our
counterparties should not loose a lot of money, so they paid the premium
upfront and they was not allowed to sell any options.
The counter parties, that were the traders and not the companies, did their
first weather deals with Enron. It was important that the traders could go
short or long or both. (Buy both put and call, for the traders that was
afraid of their possitions) Some bought 10 contracts and they really felt
that they traded weather deals.
The most positive in my opinion was that over 20 companies have traders that
have done weather deals already.
Enclosed
Lottery weather contract
Deal/Guest list
|
{
"pile_set_name": "Enron Emails"
}
|
two questions:
1) are we having a staff meeting tomorrow?
2) why the heck aren't you in the bonus meeting?
|
{
"pile_set_name": "Enron Emails"
}
|
The approval process initiated in 1998 for all meeting and event expenditures
in excess of $5,000 has enabled ENA to better assess the business value of
events, accurately track our activities and save money. These events include
customer and employee meetings, and trade shows.
ENA has made some modifications to the process, which are described in this
memo.
The $5,000 threshold remains in effect for all customer events. However, the
threshold for approval for employee meetings and events has been lowered to
$2,000, and some additional requirements must be met prior to approval.
Please be sure to follow the procedures described below for all meetings and
events, so we can continue to successfully manage these events.
1) Prior to making any commitments to customers or vendors, all customer
events with anticipated costs in excess of $5,000, and all employee events
with anticipated costs in excess of $2,000 must be reviewed by the ENA Public
Relations (PR) department and approved by the ENA Office of the Chairman
2) The PR department will handle the site search and hotel contract
negotiations for all such events. Once this is completed, the PR department
will work with you to plan and produce your event in its entirety; or they
can provide as much or as little assistance as you require. The PR department
will be responsible for helping you achieve the best value for your program
and ENA.
3) A completed expenditure request form (see attached) and supporting
documentation is required for each event. Employee meetings require a
detailed agenda as part of the event documentation prior to approval. Please
submit the completed expenditure request form and documentation to the PR
department at EB 3642, or work with PR department employees to complete the
form.
4) After PR review, the expenditure will be submitted to the ENA Office of
the Chairman for final approval.
Additionally, the PR department can assist in the procurement of tickets for
various local sporting events and concerts.
If you have any questions regarding this process, would like assistance
planning an event, or need tickets for a Houston event, please contact Dorie
Hitchcock in the PR department at (713) 853-6978.
Thank you for your cooperation.
|
{
"pile_set_name": "Enron Emails"
}
|
This is an automatically generated Delivery Status Notification.
Your message has been successfully relayed to the following recipients, but the requested delivery status notifications may not be generated by the destination.
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
--------- Inline attachment follows ---------
From: </O=ENRON/OU=NA/CN=RECIPIENTS/CN=PKEAVEY>
To: Dowjones1 (E-mail) <[email protected]>, Dowjones2 (E-mail) <[email protected]>, Gas Daily (E-mail) <[email protected]>, Iferc1 (E-mail) <[email protected]>, Iferc2 (E-mail) <[email protected]>, NGI (E-mail) <[email protected]>
Date: Monday, October 29, 2001 8:50:54 GMT
Subject:
|
{
"pile_set_name": "Enron Emails"
}
|
no you are not.
-----Original Message-----
From: Maggi, Mike
Sent: Monday, November 19, 2001 11:39 AM
To: Nelson, Michelle
Subject: RE:
im going to call ny and tell them you should really go up there now
-----Original Message-----
From: Nelson, Michelle
Sent: Monday, November 19, 2001 11:37 AM
To: Maggi, Mike
Subject: RE:
ok you are boring!
-----Original Message-----
From: Maggi, Mike
Sent: Monday, November 19, 2001 11:37 AM
To: Nelson, Michelle
Subject: RE:
nope
-----Original Message-----
From: Nelson, Michelle
Sent: Monday, November 19, 2001 11:34 AM
To: Maggi, Mike
Subject: RE:
i'm funny. don't you think?
-----Original Message-----
From: Maggi, Mike
Sent: Monday, November 19, 2001 11:34 AM
To: Nelson, Michelle
Subject: RE:
jerk
-----Original Message-----
From: Nelson, Michelle
Sent: Monday, November 19, 2001 11:31 AM
To: Maggi, Mike
Subject: RE:
ya think?
|
{
"pile_set_name": "Enron Emails"
}
|
Just wanted to follow up on one thing from our conversation on Friday. In Sept, you need the 3rd current estimate, but are ok with us providing it to you the week of the 17th, rather than the 13th. And this will be the 3rd current estimate, not just the normal cash flow forecast? Then in October, we are back to the normal cash flow forecast, correct? Let me know, thanks!
Carolyn Winowitch
PGE Accounting
503-464-8191
|
{
"pile_set_name": "Enron Emails"
}
|
Vince,
one of my colleagues here at Baylor is writing a book about "the business
of heaven" in which he interviews prominent business leaders. Bob Darden
is his name and he's a former journalist and nice guy. He would like to
contact Ken Lay about being one of his interviews. Do you think this is
possible? If so, could you give me an address/phone numbers that Bob might
use to contact Ken's secretary about setting up an interview?
If this is in any way "not ok" please just say so.
See ya,
John
>Date: Fri, 30 Mar 2001 11:35:03 -0600
>From: Robert Darden <[email protected]>
>Subject: Yo!
>X-Sender: "Robert Darden" <[email protected]> (Unverified)
>To: [email protected]
>Organization: The Door
>X-Mailer: Mozilla 4.04 [en]C-FLASHNET (Win95; I)
>
>Hi John -- I enjoyed our meeting yesterday. This looks VERY promising.
>Meanwhile, as I mentioned at the table, I'm getting a little nervous
>about the book that is due June 1.
>One of the names on our "wish" list of interviewees for "The Business of
>Heaven" is Ken Lay at Enron.
>Would it be possible for you to give me a good address and phone number
>for Mr. Lay's office?
>And may I mention your name in the cover letter?
>I would be forever indebted. I might even buy the next lunch.
>Bob
>P.S. Thanks for sharing your concerns about church yesterday, too. I'm
>genuinely sorry things didn't work out better and feel more than a
>little embarrassed that I didn't work harder to make you guys feel more
>welcome and connected. On the other hand, please know that Mary and I
>will always love you and consider you both friends. I know you'll be
>happy at Lake Shore -- even as we miss you at 7th!
>
John D. Martin
Carr P. Collins Chair in Finance
Finance Department
Baylor University
PO Box 98004
Waco, TX 76798
254-710-4473 (Office)
254-710-1092 (Fax)
[email protected]
web: http://hsb.baylor.edu/html/martinj/home.html
|
{
"pile_set_name": "Enron Emails"
}
|
Louise,
Attached per your request are two org charts for the Tech Services Group--one for no adds and one including four staff adds. These are similar to what was presented to you before but adjusted to delete the third gas guy as discussed. Staffing lists for each case are also provided.
I would strongly urge management to consider the staff adss proposed. Especially in light of the move of EOS to EGS, it is even more important that we have sufficien capability to manage our business. One mis-step can cost us more than our entire budget.
I would be happy for the opportunity to discuss in more detail. In the meantime, let me know if I can be of any assistance.
Mike
|
{
"pile_set_name": "Enron Emails"
}
|
Mary - here is a draft of what the PGE interconnection procedure will be.
As I said, much of this is from VEPCO and Carolina Power.
Michele is redrafting it to be compatible with our OATT.
Let me know your comments as we want to file with FERC this week.
Thanks.
Jay.
|
{
"pile_set_name": "Enron Emails"
}
|
will call you tonight
Karen Arnold <[email protected]> on 03/27/2001 08:09:06 PM
To: [email protected]
cc:
Subject: Devon
Why did you sell Devon Energy???? I still own it. should I sell?
Any decision regarding your return?
It is cold and rainy here, high today was 45!!!
|
{
"pile_set_name": "Enron Emails"
}
|
I concur
John Ambler@ENRON_DEVELOPMENT
02/12/2001 09:32 AM
To: Steven J Kean/NA/Enron@ENRON
cc:
Subject: Re: Envera Release
Steve,
Actually, EOL and other units of Enron have declined to participate and
specifically asked not to be included in the press release. Confidentially,
this is a case of a developer overselling use of the Enron name for
approximately $5 million equity stake. We have caught him in many half
truths and are uncomfortable going too far with this since we might get be
placed in an awkward position. Because of EOL and our own concerns, we
intentionally toned it down. I believe, in fact, that it is just another
platform as well as an investment. Consequently, we would prefer to keep
this to the minimum of allowing them to issue a press release as included in
the contract. Your concurrence would be appreciated. I am available, if you
wish to discuss this further.
John
From: Steven J Kean@ENRON on 02/11/2001 02:22 PM
To: John Ambler/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc:
Subject: Re: Envera Release
Looks fine as far as it goes ... but don't we want to explain how this fits
in to our strategy? Is it just another platform for us to bring our products
and prices to the market? We have said with respect to EOL that the
transaction is the goal not the platform. Do we want to position this the
same way? Examples of other press releases include our extension of pricing
on EOL to the two other platforms (including Houston Street) which we did a
couple of months ago.
John Ambler@ENRON_DEVELOPMENT
02/09/2001 05:35 PM
To: Steven J Kean/NA/Enron@Enron, Mark Koenig/Corp/Enron@ENRON, Mark
Palmer/Corp/Enron@ENRON, Karen Denne/Corp/Enron@ENRON
cc: Habiba Bayi/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Cindy
Derecskey/Corp/Enron@Enron
Subject: Envera Release
Enron Global Markets (EGM) has entered into a cooperative agreement with
Envera, a B2B network for the chemical and petrochemical industry. As part
of this agreement EGM will receive an equity interest in Envera. The
contract allows Envera to issue a press release, subject to our approval.
Attached for your review and comment is the proposed release. This release
has been heavily scrubbed. It is significantly less exposure than in their
initial proposals. Your early approval would be appreciated.
John
|
{
"pile_set_name": "Enron Emails"
}
|
FYI
----- Forwarded by Mark Taylor/HOU/ECT on 08/30/2000 12:31 PM -----
Enron IT Purchasing
Sent by: Messaging Agent
08/30/2000 10:01 AM
Please respond to Enron IT Purchasing
To: Janette Elbertson/HOU/ECT@ECT
cc: Mark Taylor/HOU/ECT@ECT
Subject: Confirmation of your order
This is an automatic confirmation of the order you have placed using IT
Central.
Request Number: ECTH-4NPKMD
Order For: Sara Shackleton
1 x ( Standard 15" Flat Panel $922 )
Enron IT Purchasing
|
{
"pile_set_name": "Enron Emails"
}
|
Today I received instructions from Ricardo Lisboa stating that all EOL
agreements (PA, ETA and GTC) should be prepared in the English language. I
was also told that ESA plans to launch the EOL website on February 1, 2001
(or mid-January 2001).
Since the EOL website is owned and managed outside of Brazil by a
wholly-owned subsidiary of Enron Corp, both PA and ETA will be entered into
between a US entity and a Brazilian customer. In principle, both PA and ETA
could elect foreign law and foreign jurisdiction, as well as English
language. Please be advised that, according to the Brazilian Consumer Code,
a consumer is any individual or legal entity that acquires or employs
products or services as an end-user. I am considering that most of the ESA
gas and power marketing deals will not be closed with end-users.
I am currently checking with Brazilian local outside counsel whether it is OK
that both PA and ETA will have NY Laws and NY Courts/Arbitration, however, on
the other hand, the GCT will elect Brazilian Laws and ICC Arbitration in
Brazil. In case of a dispute or controversy arising from the PA and/or the
ETA, the Brazilian customer may seek application of Brazilian Laws and may
file a suit in Brazil. Since it is very likely that a Brazilian judge
accepts jurisdiction to review a potential claim arising from the PA and/or
the ETA, we may have to consider using Brazilian Laws and ICC Arbitration in
Brazil for both PA and ETA.
In case ESA intends to close gas and power marketing deals with end-users,
please be advised that, in relation to both PA and ETA, although foreign law
and foreign jurisdiction can be elected, there are Brazilian court precedents
confirming that a Brazilian judge will accept the case and apply Brazilian
laws. Also, under this scenario, all PA, ETA and GCT should be executed in
Portuguese language, as per Brazilian Consumer Code provisions.
Please be advised that the draft GTC for power marketing deals has been
finalized in Portuguese and will be interpreted/translated into English
shortly. I should finalize the legal review of the PA and the ETA as soon as
there is a final decision with respect to choice of law and choice of
jurisdiction for these agreements
Rgds,
Sami
|
{
"pile_set_name": "Enron Emails"
}
|
Attached is the Relocation Request for the July 7th Construction for ENA
Legal.
Thanks for your assistance with this matter. All parties have been informed
to have their offices boxed for the construction/move.
Joya' F. Davis
Sr. Admin. Assistant
ENA Legal Department
EB3855A
[email protected]
(713) 853-9559 DID
(713) 646-4842 FAX
|
{
"pile_set_name": "Enron Emails"
}
|
Are you going to make tomorrow?
|
{
"pile_set_name": "Enron Emails"
}
|
All you would need to say in natural gas termsheet is, "This Transaction, if
entered into, will be conditioned upon the parties agreeing to a mutually
acceptable U.S. Hot Rolled Steel financial swap transaction".
And for the steel termsheet, "This Transaction, if entered into, will be
conditioned upon the parties agreeing to a mutually acceptable Natural Gas
financial swap transaction".
(You can place the language at the end of the transaction description
paragraph.)
Tim McKone
11/01/2000 06:59 PM
To: Mark Taylor/HOU/ECT@ECT, Brent Hendry/NA/Enron@Enron
cc: Jaime Williams/NA/Enron@ENRON, Tammy L Mulrooney/HOU/ECT@ECT, Andrew
Wilson/Corp/Enron@ENRON
Subject: Hylsamex swaps for steel and gas
Hello Mark and Brent,
Attached is the steel swap Term Sheet and the natural gas swap term sheet.
We are offering Hylsamex a discounted fixed price natural gas financial swap
and in return for this discount, we will be buying fixed price steel
(financial) from Hylsamex. The discounted natural gas swap is contingent
upon our receiving discounted steel from Hylsamex. Would you put language to
these swaps so as to make the gas swap contingent upon the steel swap.
Please send the results as soon as possible to all of the above, and
especially communicate to Jamie Williams in our Monterrey office (011 528
152-2403, as he will be sending the final term sheet to Hylsamex tomorrow
(11/2). Jaime will be expecting your communication tomorrow.
Thank you,
Tim McKone
|
{
"pile_set_name": "Enron Emails"
}
|
Following please find the Daily EnronOnline Executive Summary.
EnronOnline Executive Summary for 11/07/00
Transaction Summary
External Transactions Today 4,114
Average Daily External Transactions (30 day Trailing Avg) 3,106
Total Life to Date Transactions 414,524
EnronOnline Daily % of Entity's Total Transactions for 11/07/00 Trans Percent
Enron North America 3,512 75%
Enron Europe Limited 145 37%
Global Products 159 30%
Enron Metals 298 15%
EnronOnline Percentage of Total Corporate Transactions
(30 day Trailing Avg) 47%
Gross Notional Value of EnronOnline Transactions Total
Today 2,629,499,517
MTD 12,634,782,454
LTD 226,066,467,133
Average Daily Notional Value (30 Day Trailing Avg) 2,141,702,594
Notional Revenue from Physical Flows to Date 15,798,097,545
Counterparties, Users, and Products Offered
Counterparties having transacted to date 550
New Counterparties transacting for the first time today 1
Number of Products Offered Today 1,213
Total Number of External Users Logged on Today 2,857
Average # of External Users logged on (30 day Trailing Avg) 2,695
|
{
"pile_set_name": "Enron Emails"
}
|
Per our discussion when I was in London, we ordered you a box of blue files
and sent them to you (for your original deal files since you said you
couldn't get those types of files in England). One of our assistants got a
call from what I guess must be Meagan and she (Meagan) said she was sending
the files back because it wasn't what she wanted. So if you do want the blue
files you might want to intervene with Meagan before the files cross the
Atlantic again. We would, of course, be able to use the files here, so no
big deal.
|
{
"pile_set_name": "Enron Emails"
}
|
The OGC meeting scheduled for Wednesday, July 5, has been cancelled. The OGC
meeting will resume on the normal schedule beginning Monday, July 10, at 8:30
a.m.
Thank you.
|
{
"pile_set_name": "Enron Emails"
}
|
As per my earlier email
---------------------- Forwarded by David Minns/ENRON_DEVELOPMENT on
21-08-2000 11:12 ---------------------------
David Minns
01-05-2000 02:32
To: David Forster@ECT, Paul Smith/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc: Mark Taylor@ECT, Heidi Mason/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Susan
Musch/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
Subject: EnronOnline Australian Power GTCs
Attached is the revised GTCs that address taxation issues for non-Australian
resident counterparties. These GTCs have received tax clearance and hence all
approvals have now been given to allow them to be loaded. Enclosed also are
the procedures that need to be followed when new counterparties are being
considered. To date we have been vetting potential counteparties in the
Sydney office. I suggest that the procedures be made available to anyone else
who may be given this responsibility.
One new matter has come to light. In July 2000 with the introduction of GST
in Australia new legislative arrangements will come into place. They will
require businesses to have an "ABN". It has been suggested that we amend the
password application to request the counterparty's ABN.
|
{
"pile_set_name": "Enron Emails"
}
|
Steve,
Attached is a copy of your group's latest AAP Utilization Analysis as of
11/7/00. Also attached is an explanatory memo of the report which can be
used in the distribution of the report to your management team. For
comparison purposes, I have included the Utilization Analysis for 01/15/2000
as well as the most recent Utilization Analysis.
If you have any questions, you can call me at x37921 or Felecia Acevedo at
x39815.
Regards,
Sandra
|
{
"pile_set_name": "Enron Emails"
}
|
---------------------- Forwarded by Richard Shapiro/NA/Enron on 04/06/2001
11:32 AM ---------------------------
MARY
CLARK
04/06/2001 11:31 AM
To: Richard Shapiro/NA/Enron@Enron
cc: Ginger Dernehl/NA/Enron@Enron, Sarah Palmer/HOU/ECT@ECT
Subject: California story
Rick: The California/dereg story and a sidebar are attached for your
review. Please circulate to all on your team who need to review them.
We need to receive all comments by Monday, April 9. I am out on Monday, so
please send comments/approval to Sarah Palmer.
Thanks for the opportunity to do this story. I think it will be of great
interest to employees.
Mary
|
{
"pile_set_name": "Enron Emails"
}
|
Bush Adviser Rove Owns Stock in Major U.S. Firms
The Wall Street Journal, 06/04/01
Saudi Arabia Sets Pacts With 9 Oil Firms
The Wall Street Journal, 06/04/01
Saudi Arabia in Pacts With Nine Global Oil Firms Energy: Deals to develop
natural gas fields and other projects, worth at least $25 billion, are first
major foreign funding in sector since 1975.
Los Angeles Times, 06/04/01
Enron is my spiritual teacher
The San Francisco Chronicle, 06/04/01
Gloom today, glut tomorrow
The San Francisco Chronicle, 06/04/01
INDIA: Rating firms may be judging India harshly-analysts.
Reuters English News Service, 06/04/01
INDIA: India rupee ends off lows, fwds close higher.
Reuters English News Service. 06/04/01
UK: Spectron trades UK's first post-NETA spark spread.
Reuters English News Service, 06/04/01
INDIA: Enron India lenders meet in Singapore on Tuesday.
Reuters English News Service, 06/04/01
INDIA: UPDATE 1-India's Prabhu says power reforms enter new phase.
Reuters English News Service, 06/04/01
Nigerian president slams US energy firm Enron for "poor performance"
BBC Monitoring, 06/04/01
India: India and Bush Administration: Beyond assumptions
Business Line (The Hindu), 06/04/01
Enron's Indian Creditors Seek to Salvage Dabhol Project
Bloomberg, 06/04/01
Enron Japan's Hirl on Power Deregulation: Commodity Comment
Bloomberg, 06/04/01
Bush Adviser Rove Owns Stock in Major U.S. Firms
By Jim VandeHei
Staff Reporter of The Wall Street Journal
06/04/2001
The Wall Street Journal
A4
(Copyright (c) 2001, Dow Jones & Company, Inc.)
WASHINGTON -- President Bush's chief political strategist owns hundreds of
thousands of dollars worth of stock in companies potentially affected by the
president's top legislative priorities, newly released federal records show.
Karl Rove, one of the president's most trusted advisers on almost every major
legislative initiative, owns between $100,000 and $250,000 of stock in Enron
Corp., Pfizer Inc., General Electric Co., Boeing Co. and Johnson & Johnson,
among other holdings. (Federal law requires public officials to report their
assets, income and debts in broad ranges only). All of these companies could
be affected by one or more of the policies or legislative initiatives on
which the president consults Mr. Rove: tax cuts, increased defense spending,
an industry-oriented energy policy and health-care reform.
Mr. Rove said yesterday that he has been waiting for several months for
approval from the Office of Government Ethics to sell all of his stock
holdings and roll the proceeds into a diversified account without having to
pay capital-gains taxes, as permitted by federal law. In the meantime, "I
have had to avoid being involved in matters that specifically and materially
affect my specific holdings," Mr. Rove said.
Mr. Rove said he filed his financial disclosure reports Dec. 30 and was later
informed by the Office of Government Ethics that he should sell all of his
stock holdings to avoid even the appearance of a conflict of interest.
But the government ethics office, which couldn't be reached for comment
yesterday, has yet to officially grant Mr. Rove a certificate of divestiture,
which would allow him to roll his proceeds into diversified accounts,
according to White House spokeswoman Anne Womack. It appears that Mr. Rove
has lost tens of thousands of dollars as a result of the delay because most
of his stocks have lost value since the beginning of the year.
Mr. Rove insisted that he has been careful to avoid any discussions that
directly affect companies he is invested in, as federal conflict-of-interest
laws require. But that can't be easy for Mr. Rove, widely regarded as one of
the most powerful and influential figures in the White House. Mr. Rove serves
as the president's top political adviser and runs the administration's
long-term strategy team. He is also the president's top liaison to outside
groups, including corporations.
"He's involved in virtually every decision that is made here," says a White
House aide. It is unclear how many times, if ever, Mr. Rove recused himself
from discussion inside the White House.
President Bush, already under fire from Democrats for his administration's
close ties to industry, is likely to draw more scrutiny as a result of the
new disclosures of financial links between top White House officials and
major U.S. corporations, especially energy firms.
The White House disclosed the personal finances of Mr. Rove and several other
top administration officials at the behest of the media. It appears that as a
result of an administrative backlog, Mr. Rove is the only member of the
senior staff who hasn't been given the green light to sell his stock,
according to a White House aide.
The reports show that Mr. Rove was one of several White House officials with
a financial connection, past or present, with Enron and other energy
companies. Larry Lindsey, the president's top economic adviser who helped
draft the energy plan, received $50,000 from Enron in 2000 for consulting
work he did for the company, the documents show.
Lewis Libby, chief of staff to Vice President Dick Cheney, who was chairman
of the White House task force that wrote the energy plan, recently sold tens
of thousands of dollars of stock in Enron and other energy companies,
including Texaco Inc., Exxon Mobil Corp. and Chesapeake Energy Corp. It is
unclear when the transaction went through.
Clay Johnson, director of presidential personnel, reported holding between
$100,000 and $250,000 in El Paso Energy Partners LP. And National Security
Adviser Condoleezza Rice had $250,000 to $500,000 worth of Chevron Corp.
stock and was paid $60,000 last year for her work as a director at the
company. Mr. Rove disclosed smaller holdings in BP PLC and Royal Dutch/Shell
Group.
Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved.
International
Saudi Arabia Sets Pacts With 9 Oil Firms
06/04/2001
The Wall Street Journal
A17
(Copyright (c) 2001, Dow Jones & Company, Inc.)
JEDDAH, Saudi Arabia (AP) -- Saudi Arabia signed agreements with nine oil
companies yesterday, a move that marks the first major foreign investment in
its energy sector since the industry was nationalized in the 1970s.
The expected deal, valued at $25 billion at least, involves the development
of three natural-gas fields in the kingdom, as well as a number of related
power plants, transmission pipelines and water-desalinization projects.
Exxon Mobil Corp., the world's largest publicly traded oil company, is the
lead manager on two of the projects, including the $15 billion Ghawar Core
Venture 1 project. It also will lead the Red Sea Coast Core Venture 2
project. Royal Dutch/Shell Group was chosen to lead the Shaybah Core Venture
3 project.
The Western companies will help Saudi Arabia convert its utilities from oil
burning to natural gas, which would free up more of the kingdom's crude oil
for export.
The other companies selected were BP PLC, TotalFinaElf SA, Conoco Inc.,
Phillips Petroleum Co., Occidental Petroleum Corp., Enron Corp. and Marathon
Oil Canada Inc.
Saudi Arabia's state-owned energy company, Saudi Aramco, will be an equity
owner in the projects.
Saudi Arabia nationalized its oil fields in 1975 after tension caused by the
Arab oil embargo against the West that began two years earlier, and it closed
its energy exploration and production sectors to foreign investment.
Although locked out of the production of energy, Exxon Mobil has $5 billion
in refining and petrochemical joint ventures in the country, and it said it
is also the largest foreign purchaser of crude oil and other hydrocarbons
from Saudi Aramco.
Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved.
Business; Financial Desk
Saudi Arabia in Pacts With Nine Global Oil Firms Energy: Deals to develop
natural gas fields and other projects, worth at least $25 billion, are first
major foreign funding in sector since 1975.
From Associated Press
06/04/2001
Los Angeles Times
Home Edition
C-2
Copyright 2001 / The Times Mirror Company
JIDDAH, Saudi Arabia -- Saudi Arabia signed agreements with nine
international oil companies Sunday, a move that marks the first major foreign
investment in its energy sector since nationalizing the industry in 1975.
The deals, worth a total of $25 billion or more, involve the development of
three natural gas fields in the kingdom and a number of related power plants,
transmission pipelines and water desalinization projects.
The Western companies will help Saudi Arabia convert its utilities from
oil-burning to natural gas, which would free up more of the kingdom's crude
oil for export.
Exxon Mobil Corp., the world's largest publicly traded oil company, is the
lead manager on two of the projects, including the $12-billion-to-$16-billion
Ghawar Core Venture 1 project. It also will lead a second core project. Royal
Dutch/Shell was chosen to lead a third project. The last two projects have a
value of $7 billion to $10 billion each, Prince Saud al Faisal told
reporters.
The other companies selected were BP of Britain, TotalFinaElf of France,
Conoco Inc. of Houston, Phillips Petroleum Co. of Bartlesville, Okla.,
Occidental Petroleum Corp. of Los Angeles, Enron Corp. of Houston and
Marathon Oil Co. of Houston.
Harry Longwell, director and senior vice president at Exxon Mobil, said the
financial terms of the deal are still being discussed. But he said his
company is ready to begin the work when the final contracts are signed.
"The Saudis' expectations are extremely aggressive," Longwell said. "It's a
very tight schedule and in recognition of that, the ability to get this done
is one of the key reasons we were chosen to lead two of these ventures. We
already have a senior management team in place and are ready to go to work
immediately."
Saudi Oil Minister Ali Ibrahim Naimi said the companies are expected to
profit on returns from the exploration and development of gas fields with
more than 15% of the investment cost.
Saudi Arabia's state-owned energy company, Saudi Aramco, will be an equity
owner in the projects.
Saud said if the companies discover oil, they will be compensated and the
fields will be repossessed by Saudi Arabia.
Saudi Arabia nationalized its oil fields in 1975 and closed its energy
exploration and production sectors to foreign investment.
Although locked out of the production of energy, Irving, Texas-based Exxon
Mobil has $5 billion in refining and petrochemical joint ventures in the
country and is the largest foreign purchaser of crude oil and other
hydrocarbons from Saudi Aramco.
Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved.
DAILY DATEBOOK
JON CARROLL
Enron is my spiritual teacher
Jon Carroll
06/04/2001
The San Francisco Chronicle
FINAL
E.10
(Copyright 2001)
THE BUDDHA SAYS that we take wisdom where we find it. Perhaps the Buddha does
not say that, but it's not a bad idea anyway. The Buddha would have said it,
maybe, had he not been saying the other things.
Our enemies can teach us lessons. Our adversaries can make us stronger. They
can be consumed with greed and contempt, their very breath can be toxic, and
yet their actions can open upward-flowing paths.
Take Enron, the energy company, or Chevron, another energy company, or El
Paso Natural Gas, yet another energy company. These organizations are the
minions of Satan. They pillage and they profit. They are in the ascendant.
Their enemies fall before them like cordwood. Ordinary citizens cower and
meekly hand over tribute.
And yet we thank them. We send our investigators after them and we pray that
their executives land in jail, but we thank them. They have shown us the
nature of our enslavement. They have defined the nature of our sloth.
We have believed the Big Lie. We have believed in the free lunch. We have
trusted those who would pander to us. We have eaten energy in great dripping
gobs. Did we know it was not infinitely renewable? Oh yes. Did we understand
that energy companies could create "shortages" whenever they wanted merely by
closing plants for "maintenance"? You bet we did. And did we confuse the
energy companies with charitable organizations and/or alchemists able to
repeal the laws of nature? We did not.
But it was more convenient to forget those things, and so we did. We have
busy lives. We must do the things we must do. The infrastructure is
everywhere crumbling, and we are patching it up ourselves. We are paying
bureaucrats with taxes, but the bureaucrats are inadequate, so now the spirit
of volunteerism is much praised.
Volunteers are people who do jobs that other people are being paid to do but
don't.
AND SOMEHOW, EVEN in a society as relentlessly materialistic as this one, we
forgot about our own checking accounts. Already seduced by the idea that
credit card debt is good clean fun, we decided to waste a lot of money using
energy we didn't need.
I'm not talking about using a washing machine instead of going down to the
river and beating your clothes with small stones -- I'm talking about washing
machines with quarter-full loads and settings far too powerful for the task
at hand. Right? Lights burning in unoccupied rooms. Appliances plugged in but
never used.
We pay for it. We send our wonderful money straight to the largest villains
in American commerce because we are too stupid to do anything else. You
wonder why they have contempt for us. You wonder why Dick Cheney believes he
can fool all of the people all of the time. Because he has.
Look: Last week the secretary of commerce suggested means-testing Social
Security -- that is, means-testing a pension plan. You gave us the money, we
kept it for 40 years, now -- prove that you need it!
Why did he suggest that? Because he can! Why did PG&E demand additional
compensation for its executives, who are moral dimbulbs and social criminals
under any fair definition? Because they can get away with it! They will get
away with it! You watch!
I AM NOT saying that we have no one to blame but ourselves. There are active
villains, and there are people who allow villainy to occur. Everyone in a
corrupt system is corrupt. The fools are the ones who don't end up with any
extra money.
We are the fools. If we understand our foolishness, we begin to be wise. We
send lovely bread-and-butter notes to Enron -- once we were blind, but now we
see. And we await developments, or create them.
--------------------------------------------------------
It would be foolish to mention SUVs. When the brain is ready, the ear will
hear.
Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved.
EDITORIAL
WASHINGTON INSIGHT
Gloom today, glut tomorrow
Carolyn Lochhead
06/04/2001
The San Francisco Chronicle
FINAL
A.19
(Copyright 2001)
WHAT GOES UP usually comes down. And few industries are more prone to boom
and bust than energy.
Imagine the news stories a few years from now: "Crisis hangover -- energy
stocks sink as prices plunge; But California consumers still stuck with high
bills."
"The energy industry is suffering its worst downturn since the supply glut of
the 1990s, as dozens of big new power plants come on line, and the
just-completed Alaskan gas pipeline sends natural gas prices to their lowest
levels in six years.
"The one bright spot for Texas generators is California, where consumers are
locked into long-term contracts for wholesale electricity that the state
signed at the peak of its blackouts in the summer of 2001.
"Sacramento lawmakers have appealed to President Daschle to help get the
state off the hook, arguing that California will never claw its way out of
its economic slump if businesses continue to flee to states where energy is
cheap.
"But top Enron lobbyist Gray Davis, a former governor of California, warned
Daschle that suppliers would have little choice but to go to court to enforce
the contracts the state signed."
Washington and Sacramento are agog with the energy crisis and bursting at the
seams with plans to fix it. But the one thing no one - - even
environmentalists -- suggests is letting high energy prices discourage energy
consumption or encourage new supplies.
"To economists, letting the price rise is the solution," said Paul Portney,
president of Resources for the Future, a Washington think tank. "To elected
representatives, having the price go up is the problem."
Political memories tend to be selective and short. But it was the energy glut
of the 1990s that contributed to California's blackouts, $3 gasoline and
$400-a-month heating bills. Likewise, high prices are now laying the seeds of
their own destruction.
As a story in the New York Times noted, an energy investment boom "promises a
cyclical increase in supplies that is expected to stabilize or reduce prices
in coming months, many industry executives and private analysts say."
Through much of the 1990s, there was a glut of energy. Fuel of all kinds was
really cheap.
How cheap? Adjusted for inflation, as cheap as in 1949, economists calculate.
Energy is the oxygen of the economy, and rock-bottom prices contributed to
the long economic boom. But low prices also caused energy production to slump
and consumption to soar.
People ditched their economy cars for SUVs. Houses got bigger, ceilings got
higher and kitchens sprouted industrial stoves with enough BTUs to melt
aluminum. Stores, offices and homes turned into summertime refrigerators.
Low prices discouraged energy development.
"Oil was so cheap for so long, that people were selling their refineries,"
Portney said. "You had virtually no exploration for new natural gas when
prices were at $2 a BTU."
As demand soared and supply fell, prices rose. Profits have grown so robust
that green fuels, such as biomass and wind, are becoming economically viable.
The oil industry is booming. Refineries are expanding. The long-delayed
construction of a natural gas pipeline from Alaska now looks likely. So many
power plants are under construction that the market may be flooded with as
much as 200,000 new megawatts by 2004.
Investments in energy efficiency -- from new-age superconducting transmission
wires to better light bulbs -- are suddenly looking attractive for the first
time in decades.
"High prices will dampen demand, high prices will encourage supply, and will
encourage people to make better use of what they've got," said Robert Ebel,
director of energy for the Center for Strategic and International Studies.
"So we're starting on the down slope. We're not very far down. When prices
start to decline, I can't say how far they will go. But they will decline,
because that's just the law of supply and demand. Prices decline, demand
starts to creep up again, there's less incentive to add to supply, and here
we go again."
Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved.
INDIA: Rating firms may be judging India harshly-analysts.
By Vidya Ranganathan
06/04/2001
Reuters English News Service
(C) Reuters Limited 2001.
BOMBAY, June 4 (Reuters) - Analysts have reacted with surprise to last week's
decision of ratings agency Fitch to cut India's sovereign ratings outlook to
negative from stable, and say there are no grounds to downgrade the country.
Fitch, which rates India's foreign currency obligations at BB-plus, a notch
above Moody's Investors Service and Standard & Poor's, cited concerns about
fiscal policy, privatisation and deterioration in foreign investment climate.
However, economists speculated it could either be on account of Fitch
adjusting its ratings in line with other global agencies, or a fallout of
U.S. energy giant Enron Corp's threat to exit an Indian power venture over
payments problems.
Moody's and S&P said on Friday they have not revised ratings or outlook but
are disappointed with fiscal reform efforts.
Local currency and stock markets reacted nervously to the announcement, but
economists said most concerns were exaggerated.
"When the direction of reforms is positive and government flows are
improving, the outlook should not change," said Mohan Nagarajan, chief
economist at local rating agency CARE Ltd.
Even if the provocation for the rating review was the Enron episode, analysts
said the problems were specific to the power sector and will not affect the
robust foreign investment the country has been receiving.
"Enron was a bad deal, made on unreasonable terms in the first place and does
not reflect the ability of the government to pay its dues," said an economist
with a U.S.-based fund.
Some of the confusion arises from the various ratings assigned to India.
Moody's has retained a positive outlook on its Ba2 rating since late 1999,
while S&P has a stable outlook and a BB rating.
CONCERNS OVERSTATED
Analysts said none of the factors Fitch cited had deteriorated in the past
year, since it first rated India.
Fitch said India's fiscal-monetary mix was unfavorable, real interest rates
were high and there was the risk of a debt trap.
India marginally overshot its budgeted fiscal deficit in 2000/01
(April-March) to 5.2 percent of GDP, down from the previous year's 5.6
percent.
But laws to control government spending are awaiting parliament's approval,
there are incentives for disciplined state governments and a determined
effort at privatising state-run firms has begun.
Burgeoning fiscal deficits have persisted for a decade and public debt at 60
percent of GDP is high, but at six percent annual growth, India is one of the
fastest expanding economies in Asia.
"In terms of external liquidity, India is much stronger than its BB+ rating
while even its public debt to GDP ratio is lower than that of some Asian
nations," said P.K. Basu, chief economist for South East Asia at Credit
Suisse First Boston, Singapore.
Foreign investment has been pouring in - portfolio flows at $2.2 billion so
far in 2001 are at record levels and compare with $1.56 billion for the whole
of 2000 - and foreign exchange reserves are strong at $42.8 billion.
Interest rates and yields have also dropped, with the Reserve Bank of India
(RBI) adopting an aggressive easing stance this year to prop the slowing
economy, and inflation is benign.
"The hardest initial steps are being taken and there is still a lot of
inertia, but soon there will be a willing audience and reforms can progress
faster," CARE's Nagarajan said.
But critics said the changes were still very superficial and structural
reforms that would spur long-term growth and demand were lacking.
"What the rating agencies have emphasised is fiscal consolidation, which
means better revenue streams, efficient expenses, user charges for public
utilities...we promised these three years back and haven't moved very far on
those," said Saumitra Chaudhari, economist with local rating agency ICRA Ltd.
"We still do not have a securities bill, mature debt market and our banks
have not cleaned up,".
Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved.
INDIA: India rupee ends off lows, fwds close higher.
06/04/2001
Reuters English News Service
(C) Reuters Limited 2001.
BOMBAY, June 4 (Reuters) - The rupee ended unchanged on Monday, recovering
from the day's low after a large European bank sold dollars, dealers said.
It had slipped to a low of 47.04 per dollar in early deals on dollar
purchases by a jewellery importer.
The rupee ended at steady at d47.01/02 per dollar.
Dealers said there was no impact of Friday's comments from international
rating agencies which had raised concerns over continuity of foreign
investment and dragged shares lower.
The currency recovered from lows around 47.085 on Friday, reacting to
international rating agency Fitch's revision in the outlook for India's
ratings on sovereign debt to negative from stable, citing worries about
fiscal policy, privatisation and deterioration in the country's foreign
investment climate.
Later, rating firms Moody's and Standard & Poor's (S&P) said they were
disappointed over the government's reform effort.
Moody's also raised a concern about India's Maharashtra state utility's
ongoing tussle with Houston-based Enron Corp and said: "the dispute indicates
that India's government may not be willing to live up to its contractual
obligations".
It added this would further deter foreign direct investment from coming into
the country.
The comments weighed on bond prices, which extended losses on Monday, and in
turn led to paying in dollar forwards.
"After a long gap, there was corporate paying interest in forwards today," a
dealer with a state-run bank said.
The six-month forward ended at an annualised 5.10 percent compared with
Friday's 4.95.
For a speed guide to Reuters treasury coverage, ((Bombay Treasury Desk, +91
22 265-9000 fax +91 22 264-1699, [email protected])).
Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved.
UK: Spectron trades UK's first post-NETA spark spread.
06/04/2001
Reuters English News Service
(C) Reuters Limited 2001.
LONDON, June 4 (Reuters) - Energy brokerage Spectron said late on Friday it
had traded the first brokered gas-electricity arbitrage, or "spark spread",
deal in the UK since the launch in March this year of new electricity trading
arrangements (NETA).
"Now that liquidity has returned to the electricity market post NETA, such
transactions are expected to become more common...", said Spectron in a
statement.
The deal was concluded between UK utility Powergen and U.S. energy group
Enron .
Spectron said the trade, covering winter 2002, was for 60 megawatts of
electricity at 21.42 pounds a megawatt hour and for 100,000 therms of gas at
24.85 pence a therm.
The winter period specified in the deal ran from October 1 to March 31.
For the electricity, one day was defined as 2300 hours to 2300 hours.
For the gas, one day was 0600 hours to 0600 hours.
The deal comes as the industry moves to create standard terms and conditions
for spark spreads.
Powergen is due to meet in mid-June with other traders, including Aquila
Energy , for talks aimed at agreeing standard terms.
"It is hoped that the market will soon establish standardised documentation
leading to a standardised product that will help promote liquidity in one or
more levels of efficiency," said Spectron.
Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved.
INDIA: Enron India lenders meet in Singapore on Tuesday.
By Sriram Ramakrishnan
06/04/2001
Reuters English News Service
(C) Reuters Limited 2001.
BOMBAY, June 4 (Reuters) - Lenders to Enron Corp's troubled Dabhol Power
Company begin a two-day meeting in Singapore on Tuesday to try and settle
differences over continued support to a controversial $2.9 billion power
project in India.
Representatives of some of the world's largest banks like Citibank , ABN AMRO
, and Bank of America, will be at the meeting. Indian lenders like the
Industrial Development Bank of India , State Bank of India and ICICI will
also participate.
Market analysts speculate that the meeting will attempt to forge a joint
stand on supporting the project which now produces 740 MW of power and is
slated to increase it to 2,184 MW shortly in its second phase.
But it comes against a backdrop of rising tension between Dabhol and the
Indian state utility, the Maharashtra State Electricity Board (MSEB), which
is the sole buyer of Dabhol's electricity.
Indian lenders, who have lent the bulk of the funds to the plant, want to
continue supporting the project.
But they are being opposed by offshore lenders who want to withdraw their
loans. Loans of around $638 million of the offshore lenders are covered by
guarantees provided by Indian institutions.
The Indian lenders, fearing for their profitability if the foreign banks pull
the plug, plan to oppose any such move.
But they have been forced on the backfoot by MSEB's decision last week to
stop buying power from Dabhol and terminate its 1995 contract with the
company under which it agreed to lift the entire output.
The MSEB has complained that Dabhol produces costly power while Dabhol has
blamed MSEB for defaulting on payments worth $48 million.
Last month, Dabhol issued a preliminary notice to terminate its contract to
sell power. It has also filed for arbitration in London. This provoked MSEB
to haul Dabhol before a local regulatory body, the Maharashtra State
Electricity Regulatory Commission (MERC), which issued a temporary order
staying the arbitration proceedings.
The dispute has already affected India's image among foreign investors.
Last week, global rating agency Moody's expressed concern over slippage in
the Indian government's reform programme and cited the Enron's dispute as an
example that the country may be losing credibility with foreign investors.
"The dispute indicates that India's government may not be willing to live up
to its contractual obligations. As a consequence, this would further deter
foreign direct investment from coming into the country," Moody's said.
India's federal Power Minister Suresh Prabhu tried to dispel those fears in
an interview with Reuters on Sunday.
"India is always in favour of making sure that international contracts are
respected," he said. "There is no need for concern." ($1 = 47 Indian rupees).
Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved.
INDIA: UPDATE 1-India's Prabhu says power reforms enter new phase.
By Clarence Fernandez
06/04/2001
Reuters English News Service
(C) Reuters Limited 2001.
BOMBAY, June 4 (Reuters) - India's reforms of its sputtering power sector
have entered a new phase, with plans afoot to free up private supply,
overhaul debt-ridden state utilities and recraft tariffs, Power Minister
Suresh Prabhu told Reuters.
With investors' fears fanned by a squabble between U.S. energy giant Enron
Corp and a local utility, Prabhu said in an interview late on Sunday that
India is standing behind international contracts.
"Sanctity of contracts has to be kept," Prabhu said.
The row began late last year when the utility in western Maharashtra state
defaulted on payments of $48 million to Dabhol Power Company, 65 percent
owned by Enron. The 2,184 MW power project is India's largest foreign
investment, at $2.9 billion.
Prabhu has vowed to take Indian reforms in a new direction.
"Absolutely," he said in reply to a question whether India's reforms have
entered a different phase. The Power Ministry will now also focus on power
distribution, he added, besides its early preoccupation with generation
needs.
"In India unfortunately for the last 10 years...reforms policy was skewed in
favour of generation," he said. "We never really realised that distribution
is the more important part of the process."
Prabhu added, "We have now decided we will make enough structural changes in
distribution so that at the end of distribution enough investment is made."
CHARTERED ACCOUNTANT
A chartered accountant, Prabhu hails from the verdant regions of India's
western coastal strand, and chaired a co-operative bank that was one of the
country's largest, in terms of deposits, before his foray into politics.
An errant lock of hair straying across his forehead, Prabhu eschews the
Indian politician's traditional uniform of starched white handspun cotton for
the shirtsleeves and trousers preferred by the professionals who have entered
government, and whom local media call "technocrats".
Prabhu said India has decided to allow private producers to sell power direct
to consumers, lifting curbs that have hobbled the country's decade-old reform
effort.
He said the question of power affordability had spurred him to ask India's
states to permit third-party sales of power, which analysts have called a
stumbling-block for foreign investment.
"They cannot force a generator to sell power only to the SEBs, and that's a
major change we are trying to make," Prabhu said, referring to the states.
SEBs or state electricity boards are owned by the state governments, and
supply power to most of India.
India estimates that 100,000 MW of fresh capacity will have to be installed
over the next 12 years to meet its power needs. Most of the $200 billion in
funds that will be required will have to come from foreign private
investment.
But India's spotty reform record over the last decade has made investors
wary. Bureaucratic procedures, legal delays and political wrangling have held
up reform moves.
RATING REVISED TO NEGATIVE
Last week global rating agency Fitch revised India's sovereign rating outlook
to negative from stable, citing fiscal concerns, the slow pace of
privatisation and deterioration in the country's foreign investment climate.
Competing agency Moody's sees signs of slippage in the reforms, and Standard
& Poor's has expressed worries over India's budget deficit.
Prabhu said he wants to overhaul state power utilities by introducing
standard accounting policies, cutting transmission and distribution losses to
15 percent, and tackling crushing debt, thus helping to lure foreign
investment into the sector.
The poor financial health of the utilities, expected to run up combined
losses of about $6 billion in the 2001/02 fiscal year, has proved a hurdle in
efforts to draw private investment.
Prabhu said an expert panel examining ways to restructure SEB finances -
looking at technical, commercial and tariff issues - is expected to report
within a few weeks.
"For the first time we will be preparing commercial data which is
internationally accepted. We will be preparing technical data which is
internationally appreciable. And thirdly, we'll be creating an information
base which will be created by experts and then made available to the states,"
he said.
The utilities' transmission and distribution losses run to up to 25 percent
of the electricity they generate, compared to a figure of about eight percent
internationally, he said.
Prabhu wants to trim this to about 15 percent within two or three years.
"In the case of India, I am willing to accept a figure of 14 percent to 15
percent, because to bring it below that will be technically feasible but
commercially unviable," he added.
Other steps to tone up power generation include attempts to link the eastern
region with the rest of India, efforts to boost plant load factors through
modernisation of equipment, and to persuade people to use energy more
efficiently.
Prabhu said he is building political will to support these moves through a
programme to tell consumers why they can no longer get power cheap, or even
free, as many did in the past. ($1=47 Indian rupees).
Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved.
Nigerian president slams US energy firm Enron for "poor performance"
06/04/2001
BBC Monitoring
Source: The Guardian web site, Lagos, in English 4 Jun 01/BBC Monitoring/(c)
BBC
Text of article by Francis Obinor entitled: "Obasanjo chides Enron on Lagos
power project"; published by Nigerian newspaper The Guardian web site on 4
June
For failing to live up to expectation of the Nigerian government and the
people as regard its role in the Independent Power Project (IPP) initiated by
the Lagos State government two years ago, Enron, the American firm got a hard
knock from President Olusegun Obasanjo at the weekend [2-3 June].
In his conclusion, Obasanjo accused Enron, a major player in the electricity
project, of poor performance and bad faith. Ostensibly angry at the delay in
the project's full take-off and the 30 MW recently connected to the national
grid from the scheme, the president on the American Cable News Network (CNN)
declared: "Enron has played a dirty game on us. Dirty game in two ways."
Beside putting up an exorbitant price, the company according to the
president, also failed to comply with the terms of the contract. Continuing,
Obasanjo said: "The price at which they (Enron) have tried to sell power to
us has been very exorbitant. Two, what they told us they would do, they have
not done."
While refusing to disclose the firm's charges, Enron Vice-President of
Marketing John Ambler said the primary objective of the company was to get
the project on stream. "We have a project that is very close to coming on
line," he said, stressing that the company's desire is to see the project
work effectively in Nigeria, especially in Lagos. He added that Enron is
committed to the IPP and assured Lagosians that they would soon begin to feel
the impact.
The state government brought forward the June 2001 deadline it set for the
commencement of the first phase of the project when it fired the first 30 MW
of electricity to the national grid two weeks ago.
At the Government House on 23 May, Governor Bola Tinubu said his
administration and the contracting firm felt that there was no harm in
bringing the date forward and assured that another 30 MW would be added soon.
He noted that, contrary to expectations that the project would cover the
entire state at a go, it would be in phases and the focus for now would be
industrial consumption. "The concentration for now is not as private homes,
we would soon get there," Tinubu assured.
The controversial IPP programme, which the federal government had at one time
been accused of frustrating, has suffered several setbacks, including Enron's
initial plan to sell its shares to AES, another American company. Last April
was originally fixed for the project's take-off but the failure of Trevi, a
construction company in charge of transmitters, caused a shift in the date.
Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved.
India: India and Bush Administration: Beyond assumptions
06/04/2001
Business Line (The Hindu)
Copyright (C) 2001 Kasturi & Sons Ltd (KSL); Source: World Reporter (TM) -
Asia Intelligence Wire
SOON after Mr George W. Bush Jr. won the US elections, Indian observers
proclaimed quickly that a Republican administration bodes good for India. A
Republican administration was expected to not pester India about human rights
violations in Kashmir, not force it to sign the CTBT, and get tougher with
China.
Mr George Bush's decision to "drop by" the External Affairs Minister, Mr
Jaswant Singh's meeting with the American National Security Advisor, Ms
Condoleezza Rice, seemed to somehow confirm this false sense of euphoria.
This narrow thinking fails to understand the drivers of Republican ideology.
The reality is the Republicans care about a range of issues that will force
the BJP Government to make some difficult decisions.
Take the first issue of human rights violations in Kashmir. It is true there
are many isolationists in the Republican Party who, probably, do not care
about human rights violation in Kashmir so long as it does not affect them,
and is not happening in their backyard. But there is another powerful force
in Republican politics - the religious wing. This includes powerful members
of the US Cabinet such as The Attorney-General, Mr John Ashcroft, who are
Christian fundamentalists.
Mr Bush himself claims to be a 'born again Christian'.
The religious right is rarely interested in foreign policy; it mostly
concerns itself with moral and social issues such as abortion and teenage
pregnancy. But the few times it does intervene, it is when it feels a country
is "persecuting Christians". And when it does intervene, no Republican
administration dares cross it.
For instance, China is periodically identified as a country that persecutes
Christians. Christian missionaries and ministers are routinely harassed and
imprisoned because they are trying to spread their religion. Because of this
issue, Republican members of the Christian right in Congress have all but
declared a religious war on China, routinely opposing any attempt to improve
relations - including trade relations - with that country.
India, as an emerging power, is more carefully watched, and frequently
mentioned in the American press. Stories of Christian missionaries being
burnt alive and nuns raped are attributed to "elements associated with the
Hindu fundamentalist ruling party". In its latest human rights report, the US
State Department noted these acts with concern.
The Pope's mention of these issues to the Prime Minister, Mr Atal Bihari
Vajpayee, was also noted in the American press. India is, perhaps, half a
step away from being branded as a country that "persecutes Christians".
A self-professed born-again Christian like Mr George Bush would quickly take
up the Christian right's cause, trumping all other bilateral issues. Human
rights may not matter to the isolationists, but Christian, and to a lesser
extent Jewish, religious freedom matters tremendously to a Republican
administration.
The second fallacy was that since the Republicans in Congress did not pass
the Comprehensive Test Ban Treaty, they would not force other countries to
pass the CTBT either. But why are the Republicans are opposed to the CTBT.
The opponents of the CTBT feel that it fails to safeguard American security.
They frankly care little about Indian security. They would love to be able to
restrict India's ability to test and use its weapons. To them, nuclear
weapons not in American hands translates into an unsafe world. Unless India
manages to convince the Republicans otherwise, the Republican administration
is likely to tighten the anti-proliferation screws on India.
The third fallacy relates to a tough, long-term strategic re-alignment the
Bush Administration will demand of India. Mr Bush's foreign policy-makers are
unreconstructed 'Cold Warriors'. In the post-Cold War era, they are
desperately "searching for an enemy". They appear to have settled on China as
"the next enemy". Their next step is to search for "allies"
who rarely challenge their views. Thinkers in Washington and New Delhi
believe that India and the US are "natural allies". But such a decision has
an enormous range of long-term consequences for India.
To discuss just a few: Most of the Indian military's equipment comes from
Russia and the former Soviet Union. Allying with the US will be seen by the
Russians as abandoning them, and this could have an enormous impact on the
legacy military equipment. Recent noises from the Foreign Ministry suggest
India is also eager about Mr George Bush's proposed missile defence
programme. But this technology is far from proven, and during the decade over
which it may be developed (if it gets past Congress), China will most
certainly develop many nuclear weapons. These may, primarily, be a deterrent
against the US, but it will force India into an arms buildup it can barely
afford.
The Americans are reserving their missile defence system for their "closest
allies". India today is neither fish nor fowl - not quite a threat, but not
quite an ally either. It is unlikely that India will be able to convince the
Americans to give it the defence system.
Even if the Americans agree to sell it to India, it could never afford the
sticker price. So, before it rejoices at the notion of anti-China hawks in
the White House, let India ponder over the unexamined consequences.
The final issue is one that may precipitate in the very near term.
Enron and Maharashtra find themselves in a dispute that neither wants to
lose, and that appears to be rapidly getting shriller. Mr George Bush's
background is as a Texas oilman - and he is widely accused in the US of being
beholden to the interests of the energy industry.
In fact, they were among the biggest "contributors to his campaign".
The Enron Chairman, Mr Kenneth Lay, is a friend of Mr Bush's, and was
seriously considered for a job in his Cabinet. He is so well connected that
he was recently accused of influencing who is appointed by the White House to
regulate the energy industry. In the near term, Mr Bush could quite possibly
lean heavily on New Delhi to "make sure that Enron's interests are not
neglected". If New Delhi does not respond to his satisfaction, his opinion of
India, and consequently, his administration's dealings with the country, are
likely to be coloured far more than we think.
Giridhar Srinivasan
Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved.
Enron's Indian Creditors Seek to Salvage Dabhol Project
2001-06-04 08:41 (New York)
Enron's Indian Creditors Seek to Salvage Dabhol Project
Mumbai, June 4 (Bloomberg) -- Indian banks that loaned money
to Dabhol Power Corp., the local unit of Enron Corp., will try and
persuade their international counterparts to keep alive the $3
billion project at a meeting of lenders in Singapore tomorrow.
The two-day meeting will be the first between the two groups
of bankers since they met in London on April 24-25 to discuss an
escalating dispute on power prices that has pitted Enron against
the Maharashtra State Electricity Board, Dabhol's only customer.
``We will discuss how we can go about resolving the
problem,'' R.S. Agarwal, executive director at Industrial
Development Bank of India, or IDBI, said. IDBI is the biggest
lender to the Dabhol project.
The outcome of the Singapore meeting, to be held in the
offices of ABN Amro Holding NV, one of the biggest international
lenders to the project, will be crucial to the banks, which have
loaned as much as $2 billion to Dabhol.
Indian banks fear the Maharashtra State Electricity Board's
decision to stop buying power from Dabhol may strengthen
international lenders' resolve to terminate the project and invoke
government guarantees to recover their loans.
``Foreign lenders want to close the (Dabhol) chapter,'' said
Pradyumna Kaul, an activist with Enron Virodhi Andolan, a non-
government organization opposed to the project. ``They are eager
to call in their loans, even if it means taking a 10 to 15 percent
cut, rather than spend more on supervision and legal expenses
while watching the saga linger.''
Local banks such as IDBI are most at risk as the Maharashtra
and federal governments have guaranteed only foreign banks' loans
of about $600 million to the venture.
IDBI alone has exposure totaling 21.58 billion rupees ($460
million) to the project, including 15.28 billion rupees in
guarantees.
Foreign lenders such as ABN Amro, Citibank N.A., a unit of
Citigroup Inc., Bank of America and Credit Suisse First Boston in
April approved Dabhol's decision to begin termination of its power
supply contract with the board. They are in favor of canceling the
project.
India's government risks having to pay 170 billion rupees in
fines, resulting from guarantees it has offered on payments and
loans, if Enron pulls out of the project.
The Fight
Maharashtra State Electricity Board Wednesday stopped buying
power from Dabhol as the dispute escalated. The board on May 24
told Dabhol Power Co. it was canceling its power purchase
contract, six days after Dabhol gave the board notice it was set
to pull out of the project because of the six-month dispute over
bills owed by the board.
``The MSEB's move has complicated the matter. We did not
expect MSEB to do this,'' Agarwal at IDBI said last week.
Dabhol, 65 percent owned by Enron, and the board are in
dispute over 3 billion rupees in unpaid bills for December and
January. Others bills through March have been paid.
The board has refused to pay the December and January bills,
saying they should be lowered to reflect a 4 billion rupee penalty
the board imposed on Dabhol for not supplying power at full
capacity on Jan. 28.
The dispute Thursday prompted debt-rating company Fitch to
change its outlook on India to ``negative'' from ``stable.'' Fitch
said the climate for foreign investors has deteriorated.
``The dispute indicates that India's government may not be
willing to live up to its contractual obligation,'' the Economic
Times quoted Kristin Lindow, India analyst at Moody's Investors
Service, as saying. ``As a consequence, this would further deter
foreign director investment from coming into the country.''
Moody's and Standard & Poor's have stable outlooks on the
country's sovereign rating. S&P has an investment grade rating of
``BBB'' on the country's sovereign debt. Moody's, like Fitch,
rates India's debt as junk at ``BB2.''
Enron Japan's Hirl on Power Deregulation: Commodity Comment
2001-06-04 06:29 (New York)
Sydney, June 4 (Bloomberg) -- Joseph Hirl, chief executive of
Enron Corp.'s Japanese unit, Enron Japan Corp., comments on the
outlook for deregulation of Japan's electricity industry. He spoke
at the Coaltrans Asia conference in Sydney.
On Japanese government policy:
``The government does have a strong commitment to
deregulation, but there are some significant policy concerns''
including a ``greater than 80 percent reliance on imports'' of
energy.
``The market has been open a bit over a year, however not
much has happened. No genuine competition exists under the current
system. The companies there recognize that it will happen. It's
inevitable.
``The level of competition in Japan now is similar to the
U.S. in 1994-95, or Europe in 1996-97. Prices are about 400
percent higher than the U.S.
``To put it in perspective, I won't give the name of this
large chemical company, but it consumes about 600 megawatts. If
you compare that business with a company that's just like it in
Houston, Texas, the difference would be about $250 million a year
in the cost of electricity.
``For such an export-led economy, that's a difficult
situation to be in, and it's contributing to the overall malaise
in the economy.''
On the likelihood of a California-style electricity crisis in
Japan:
``Despite exploitation of California by the utilities, METI
(Ministry of Economy, Trade and Industry) and others recognize it
was a problem of design, not competition'' in California.
|
{
"pile_set_name": "Enron Emails"
}
|
FYI...
---------------------- Forwarded by Debbie R Brackett/HOU/ECT on 10/06/2000
01:18 PM ---------------------------
James New
10/04/2000 10:24 AM
To: Debbie R Brackett/HOU/ECT@ECT
cc: Hugo Moreira/LON/ECT@ECT, David Hardy/LON/ECT@ECT, Mike
Jordan/LON/ECT@ECT
Subject: Re: RAC Feeds 29-Sep
Debbie,
For UK Power, this was not officialised because we had a curve shift for 25+
years which was made in error. For the DPR we put a 'top side' adjustment
through but because of the time it would take to re calc no re calc was
performed. This should have been covered in the daily conference call. Was it
?
For UK Gas, I thought this issue was closed on the conference call. We used
the 30th as our month end as a result of the way the month end fell. The guys
have now clicked the 'officialised' button for the 29th if it helps you, but
we did not use that data (there shouldn't be anything materially wrong with
it though).
What I think this highlights is that we will have days where we do not
officialise and do not re run. In these circumstances we will put a top side
through. We therefore need a mechanism to communicate this top side and I
would request we get this in place as soon as possible (this has been
requested a few times before).
Does this answer your questions ?
James
From: Debbie R Brackett
04/10/2000 14:25
To: James New/LON/ECT@ECT, Hugo Moreira/LON/ECT@ECT
cc: David Hardy/LON/ECT@ECT, Mike Jordan/LON/ECT@ECT
Subject: Re: RAC Feeds 29-Sep
James,
Just received a note fron Steve Price that UK power was never approved for
close of business 02-Oct. Can you or someone in your group respond to that as
well as to my query as to the lack of approval for UK Gas for close of
business on 29-Sep?( See below)
We are making a real effort here to understand why the Risk Controls groups
are not receiving data on a reliable basis and input from your group is
crucial.
Thanks for your help,
Debbie
---------------------- Forwarded by Debbie R Brackett/HOU/ECT on 10/04/2000
08:19 AM ---------------------------
From: Debbie R Brackett
10/02/2000 10:18 AM
To: James New/LON/ECT@ECT, Hugo Moreira/LON/ECT@ECT
cc: David Hardy/LON/ECT@ECT
Subject: Re: RAC Feeds 29-Sep
Please clarify as much as possible.
---------------------- Forwarded by Debbie R Brackett/HOU/ECT on 10/02/2000
10:17 AM ---------------------------
Steve Price
10/02/2000 10:07 AM
To: Debbie R Brackett/HOU/ECT@ECT
cc: David Hardy/LON/ECT@ECT, Phil Yoxall/LON/ECT@ECT, Suzanne
Bain/LON/ECT@ECT, Jitendra Patel/Market Risk Management/LON/ECT@ECT, Oliver
Gaylard/LON/ECT@ECT
Subject: Re: RAC Feeds 29-Sep
Debbie,
There is an MTM for the 29-Sep but is has not been approved. However, there
is also an MTM for 30-Sep which has been approved. I think the risk managers
would have the answer to why.
Steve
From: Debbie R Brackett
02/10/2000 14:30
To: Steve Price/LON/ECT@ECT
cc: David Hardy/LON/ECT@ECT, Phil Yoxall/LON/ECT@ECT, Suzanne
Bain/LON/ECT@ECT, Jitendra Patel/Market Risk Management/LON/ECT@ECT, Oliver
Gaylard/LON/ECT@ECT
Subject: Re: RAC Feeds 29-Sep
Why no MTM for the 29th, that being the last business day for the month?
Steve Price
10/02/2000 06:40 AM
To: David Hardy/LON/ECT@ECT, Debbie R Brackett/HOU/ECT@ECT, Phil
Yoxall/LON/ECT@ECT
cc: Suzanne Bain/LON/ECT@ECT, Jitendra Patel/Market Risk
Management/LON/ECT@ECT, Oliver Gaylard/LON/ECT@ECT
Subject: RAC Feeds 29-Sep
All
Here are the feed timings for feeds for close of business 29-Sep
I will send another mail when they have all completed
Approved Send to RiskTRAC Issues
UK + Cont GAS 10:59 12:31 MTM approved is for 30-Sep. No 29-Sep MTM
approved
UK Power 10:24 Running now
Nordic Power Not yet approved
Steve
|
{
"pile_set_name": "Enron Emails"
}
|
would you do me a favor and send me Ken Kaspar's e-mail add at Dow.
thanks!!!
Debra Perlingiere
Enron North America Corp.
Legal Department
1400 Smith Street, EB 3885
Houston, Texas 77002
[email protected]
Phone 713-853-7658
Fax 713-646-3490
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{
"pile_set_name": "Enron Emails"
}
|
----- Forwarded by Mark Taylor/HOU/ECT on 06/08/2000 05:38 PM -----
Mark Taylor
05/16/2000 12:48 PM
To: Andrea Bertone/SA/Enron, andrea calo, Brent Hendry/ENRON_DEVELOPMENT
cc:
Subject: EnronOnline Questions for Local Counsel
Here is the draft of the questionnaire for local counsel. Let me know what
you think.
|
{
"pile_set_name": "Enron Emails"
}
|
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{
"pile_set_name": "Enron Emails"
}
|
Meeting. Dave Duran and Michele Cash should also be involved.
|
{
"pile_set_name": "Enron Emails"
}
|
This looks fine.
Elizabeth Sager
05/10/2001 10:20 AM
To: Richard B Sanders/HOU/ECT@ECT
cc:
Subject: PG&E Standstill
per my vm
|
{
"pile_set_name": "Enron Emails"
}
|
The report named: Violation/Notification Memo <http://erv.corp.enron.com/linkFromExcel.asp?report_cd=60&report_name=Violation/Notification+Memo&category_cd=2&category_name=ENRON%20CONSOLIDATED&toc_hide=1&sTV1=2&TV1Exp=Y¤t_efct_date=09/25/2001>, published as of 09/25/2001 is now available for viewing on the website.
(Revision: 2)
|
{
"pile_set_name": "Enron Emails"
}
|
Clint,
I am so sorry that it has taken me so long to e-mail you.? I hope you didn't
think that I forgot.
I spoke to Amy and she would love to meet you.? Her e-mail address is
[email protected].?
Hope you have a good Memorial Day weekend,
Erin
?
Do You Yahoo!?
Yahoo! Auctions $2 Million Sweepstakes - Got something to sell?
|
{
"pile_set_name": "Enron Emails"
}
|
Attached are the revised agreements based on our discussion prior. Please
review and if everything looks good, I will prepare executables for MidCon.
Please note the following revisions:
1. Midcon installs, owns, and operates the Deer Park Interconnect.
2. HPL installs, owns, and operates the Flagstaff Interconnect.
3. If the pressures committments are violated in accordance with the terms,
the violating party pays the others cost incurred at that interconnect.
4. Each Party still entitled to 1/2 capacity at each interconnect.
Please call if you have any questions. x-33512.
|
{
"pile_set_name": "Enron Emails"
}
|
PG&E has changed the method of calculating the PX Credit recently. Prior to June they appeared to be using a market based price for power, but in June the credit dropped to about $40/MWh which looks like utility-owned gen.
We want to make sure we are not missing a utility-levied charge in our forward curves ( e.g. CTC charge that will be applied to DA) so we're trying to verify the utilities' method of calculating PX credits.
I talked to the PG&E accounting person who said that their Regulatory group has sent Enron's regulatory group information on the way the PX Credit is calculated. Can someone locate this information and forward it to me as soon as possible? Given that our customers are all switching to DA we don't want to discover there's a charge we don't know about.
Thanks,
Tamara.
|
{
"pile_set_name": "Enron Emails"
}
|
Tanya,
This will confirm that you and my other clients have decided to go forward
with initiating arbitration in the above-referenced matter, despite the
up-front costs, and are comfortable with your own assessment of the risks of
Triad having no executable assets, as well your own view that from a policy
basis, this matter needs to go forward to make sure that other traders don't
try the same thing.
I will prepare an arbitration demand and submit it for the review of anyone
who needs to see it before it goes out. It will be very short. Please let
me know who (if anyone) would like to see a draft first.
Britt
Tanya Rohauer@ECT
12/11/2000 01:56 PM
To: Britt Davis/Corp/Enron@ENRON
cc: Lisa Mellencamp/HOU/ECT@ECT, William S Bradford/HOU/ECT@ECT, Russell
Diamond/HOU/ECT@ECT, Scott Neal/HOU/ECT@ECT
Subject: Triad
This should confirm the result of our meeting last Friday in which all
parties agreed to move forward with pursuing a judgement against Triad Energy
Resources for our outstanding receivable of $1,779,000. Please send updates
regarding the proceedings to me as they become available.
Thanks,
Tanya
|
{
"pile_set_name": "Enron Emails"
}
|
I don't have anything from Border yet. They were having a tough time with
this schedule.
|
{
"pile_set_name": "Enron Emails"
}
|
Becky.
I had four days of vacation, March 19, 20, 21, 22.
Thanks,
Kay
Becky Spencer@ECT
03/30/2001 11:42 AM
To: Kay Mann/Corp/Enron@Enron
cc:
Subject: Time
Since Suzanne Adams is out of the office I will be inputting time for Sheila
Tweed's Cost Center for this pay period. Please send me your time for the
pay period 3-16 through 3-31 by 5:00 p.m. on Friday (the 30th). You may
reply to this e-mail with any time exceptions such as vacation, sick,
personal, jury duty, etc. Basically, any time not working!
Thank you!
Becky Spencer
x37599
|
{
"pile_set_name": "Enron Emails"
}
|
fyi
---------------------- Forwarded by Jefferson D Sorenson/HOU/ECT on
07/07/2000 08:35 AM ---------------------------
Bob Klein
07/06/2000 05:12 PM
To: Jefferson D Sorenson/HOU/ECT@ECT
cc: Rebecca Ford/HOU/ECT@ECT
Subject: UNIFY TO SAP INTERFACE---DAY 2
As on Day 1 we ran the UNIFY to SAP interface at 8:00 AM, Noon, and 3:00 PM.
Set out below are the results of these runs.
The interfaces for Enron North America (financial for gas, weather, and pulp
and paper) were error free.
The interfaces for ENA Global Products--Financial resulted in two invoices
not being accepted by SAP. This was due to a SAP error that has occurred
about three times in test. However, the SAP team cannot duplicate the error
in order to correct. They are still trying to find the root of this problem.
The two transactions which were not picked up by SAP were resent successfully.
The interfaces for ENA FX Financial uncovered a breakdown in the process. The
payment program for this entity is to be processed manually by the Accounts
Payable Dept. For July 5 and today, the AP Dept. forgot to process the
payment program resulting in nine payments (7 US $, 1 Canadian, and 1 GBP)
not being paid. We were able to get all payments out today through SAP
except the GBP payment. The GBP non-payment was discovered by a counterparty
calling and stating that they did not received their funds. The US$ and
Canadian non-payments were discovered when we reviewed our bank statements
and found that the funds were not disbursed. For future interfaces, Bernard
is to call Treasury after each interface is processed to ensure that the
payments for this entity were received by them.
Bob
|
{
"pile_set_name": "Enron Emails"
}
|
Hi John,
I am sending out by courier today your guarantee offer.
Regarding the repairs that need to be done on your property, I will
coordinate them with you agent and the cost of the repairs will be deducted
from your equity. I will send you a copy of the bills once we receive them
to let you know how much will be deducted.
Best regards,
Patricia
|
{
"pile_set_name": "Enron Emails"
}
|
April 17, 2001
Notice No. 01-134
TO:
ALL EXCHANGE MEMBERS / MEMBER FIRMS
ALL EXCHANGE CLEARING MEMBERS
FROM:
Neil Wolkoff, Executive Vice President
SUBJECT:
Cost Incentive Program for Brent Trading
The Board of Directors of the New York Mercantile Exchange, Inc., this
morning agreed to waive all clearing and exchange fees for its new Brent
crude oil futures contract for the first year of trading and to offer rebates
for three months on any light, sweet crude futures contract traded to offset
a position in the Exchange Brent futures contract.
The rebates will be for up to 24 cents per side, depending on the type of
trade, which can currently range from nine cents to $1.35 per side.
__________________________________________________
Please click on the link below to indicate you have received this
email.
"http://208.206.41.61/email/[email protected]&refdo
c=(01-134)"
Note: If you click on the above line and nothing happens, please copy
the text between the quotes, open your internet browser,
paste it into the web site address and press Return.
|
{
"pile_set_name": "Enron Emails"
}
|
john,
this BOA tic is not needed. call me re getting this removed.
joan
x33152
---------------------- Forwarded by Joan Quick/HOU/ECT on 01/12/2001 10:37 AM
---------------------------
Enron North America Corp.
From: George Weissman 01/12/2001 07:24 AM
To: Joan Quick/HOU/ECT@ECT
cc: Melissa Graves/HOU/ECT@ECT, Gary Bryan/HOU/ECT@ECT, John
Griffith/Corp/Enron@Enron
Subject: Re: Preston VPP & XS gas deal - Sitara #'s
Joan,
The BOA ticket was established by John Griffith.
Two deal tickets are necessary for St. Mary's in order to segregate that
portion of the excess volumes on which a firm delivery guarantee to the East
Desk was made and origination was taken from that portion of the excess
volumes which are delivered to the desk on an interruptible basis and priced
accordingly.
George x3-6992
From: Joan Quick on 01/11/2001 06:09 PM
To: George Weissman/HOU/ECT@ECT
cc: Melissa Graves/HOU/ECT@ECT, Gary Bryan/HOU/ECT@ECT
Subject: Preston VPP & XS gas deal - Sitara #'s
George,
There should not be a deal tic for BOA [55941]. The Brazos tic #541136 has
100% of the VPP vols, which is correct. The other tic should not exist. I
am not sure if you put this in, or if John Griffith did this when the name
change from St. Mary's to Brazos took place. Please let me know what I need
to do in order to get this removed/corrected.
Also, when things slow down, we need to discuss the 2 deal tics [firm and
spot]. Per the contract with Preston, there s/b only one tic - all the gas
at IF TGT + 0.0025.
thanks.
joan
Enron North America Corp.
From: George Weissman 01/11/2001 03:25 PM
To: Joan Quick/HOU/ECT@ECT
cc: Melissa Graves/HOU/ECT@ECT, Gary Bryan/HOU/ECT@ECT
Subject: Re: Preston VPP & XS gas deal - Sitara #'s
St. Mary's Excess deals are 540814 (firm booking) and 554222 (spot booking)
Bank of America VPP deal is 555941
George x3-6992
From: Joan Quick on 01/11/2001 03:19 PM
To: George Weissman/HOU/ECT@ECT
cc: Gary Bryan/HOU/ECT@ECT
Subject: Preston VPP & XS gas deal - Sitara #'s
george,
when you get a chance, i have that the vpp Sitara # is 541136. could you
please tell me the Sitara # for the excess gas.
thanks
joan
|
{
"pile_set_name": "Enron Emails"
}
|
David Uozumi
New York, NY 10010-5523
[email protected]
To Mr. Ken Lay,
I'm writing to urge you to donate the millions of dollars you made from selling Enron stock before the company declared bankruptcy to funds, such as Enron Employee Transition Fund and REACH, that benefit the company's employees, who lost their retirement savings, and provide relief to low-income consumers in California, who can't afford to pay their energy bills. Enron and you made millions out of the pocketbooks of California consumers and from the efforts of your employees.
Indeed, while you netted well over a $100 million, many of Enron's employees were financially devastated when the company declared bankruptcy and their retirement plans were wiped out. And Enron made an astronomical profit during the California energy crisis last year. As a result, there are thousands of consumers who are unable to pay their basic energy bills and the largest utility in the state is bankrupt.
The New York Times reported that you sold $101 million worth of Enron stock while aggressively urging the company's employees to keep buying it. Please donate this money to the funds set up to help repair the lives of those Americans hurt by Enron's underhanded dealings.
Sincerely,
David Uozumi
|
{
"pile_set_name": "Enron Emails"
}
|
Start Date: 4/10/01; HourAhead hour: 4; HourAhead schedule download failed.
Manual intervention required.
|
{
"pile_set_name": "Enron Emails"
}
|
You may want to review this for our meetings.
---------------------- Forwarded by Jane Wilson/ENRON_DEVELOPMENT on
02/21/2000 07:43 PM ---------------------------
Jane Wilson
02/21/2000 07:43 PM
To: Mark Schroeder@ECT
cc:
Subject: Mega power status
There may be no advantages for us in this megaproject status other than the
privilege of becoming fully regulated. However, the Ministry is considering
us and Ken Lay made big announcements to the press. After these
announcements, I pulled a team together on Dabhol strategy. The conclusion
was that now that we've made our application and annoucement (noone asked
me. See below), we must keep up the pretext of appearing to seek the mega
project status to look like we are trying to help MSEB. The consensus of
the group was that probably the whole idea of megaproject status will bite
the dust.
Unbenownst to me, a number of letters were filed (with the Ministry, with
MSEB and with CERC) requesting mega power project status. A letter was filed
with the Central Electricity Regulatory Commission (CERC) requesting that
CERC "use its good offices" to obtain this status for Dabhol. In a public
forum -- a panel that I moderated at a conference, Dr. Rao referenced this
letter as one filed by a "multinational" corporation that wouldn't have filed
it in its own country, improperly asking for the use of influence. When he
sat back down next to me, Dr. Rao leaned over and whispered that it was
Enron, that the name was Sandeep Kohli, and that he was certain I didn't know
about it. I subsequently formally requested its withdrawal, much to Rao's
relief. This was Sanjay's idea.
P.S. it's hot in Mumbai now -- about 90 degrees or so in the daytime.
---------------------- Forwarded by Jane Wilson/ENRON_DEVELOPMENT on
02/21/2000 07:37 PM ---------------------------
Jane Wilson
02/13/2000 12:32 AM
To: Wade Cline/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc:
Subject: Mega power status
Here is the hand out on mega power project that I handed out in our strategy
meeting in January.
Please note that in the Monday, January 24 Business Standard it was reported
that the next tranche of mega power projects may get no tax benefits.
"The Union power ministry may not offer tax sops to the projects presently
under consideration for mega power project status.
Official sources confirmed that the new projects would not be offered
benefits like customs duties waiver, offered to the mega projects cleared
last year.
The only benefit these projects are expected to receive is sale to the Power
Trading Corporation (PTC) -- whereby the state risk on independent power
producers (IPPs is transferred to PTC. Such sops do not have a major impact
on the project's tariff, as was initially calculated.
The power ministry is considereing a proposla to accord mega status to eight
projects, including the Dabhol venture in Maharashtra.
. . . .
Sources however, said mega project status would onl be granted on the basis
of the tariff quoted by the projects under consideration.
The Union power ministry has already formed a committee which will analyse
the tariffs for these projects so as to accord them the status. They said
that the committee would be examining the tariffs in accordance to similar
project cleared by the Central Electricity Authority.
. . .
Mega power projects are large interstate power venture selling power to more
than one state through the Power Trading Corporation.
The 18 projects that have been notified as mega power projects get special
benefits in terms of the customs duty waiver and will enable te government to
obtain competitive tariffs from projects. These project also get deemed
export status wherein domestic equipment suppliers will be entititled to duty
drawback and refund of terminal excise duty."
I now have the Availability Based Tariff Order (issued prior to my being
involved in India) and will analyze it. This order will apply to mega power
projects as you see in the handout. I want to do a full regulatory analysis
for us in the next month.
Please let me know what our current strategic thinking is on the mega project
issue. I still think that this would not be to Enron's advantage. However,
being realistic, something will have to change. I just don't think
submitting ourselves to regulation by the CERC with one buyer the PTC is to
our advantage anyway. With potentially no tax advantages, what are we
thinking? However, as we discussed in the meeting, we must continue the
pretext. What happens if the dog catches the car?
On a separte subject, I know you are busy with the refocus of our development
efforts, but obviously I would like to spend some time with you with regard
to my reassignment to the India region only (at my suggestion, by the way).
Since I'm returning to the US on Thursday night, the 18th, we may have no
face time until my return the 28th. Is that right?
Is the therapy couch ready in your office? From what I hear from my perch in
the TERI forum in Agra and Delhi (now Mumbai) there is lots of doom and gloom
in the Mumbai office. Certain resumes are being prepared, and there seems to
be a general feeling that Enron will embark on a several-year wrap up/sell
down effort.
I am planning to go to the South Asia forum in Kathmandu. Even with our
refocus, it strikes me that the contacts with DOE and Indian embassy and
Indian personnel will be most worthwhile. Let me know if you disagree.
---------------------- Forwarded by Jane Wilson/ENRON_DEVELOPMENT on
02/13/2000 12:12 AM ---------------------------
enron india
From: Wade Cline 02/11/2000 06:26 AM
To: Jane Wilson/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc:
Subject: Mega power status
Jane,
Please send me via e-mail or fax a copy of the note you put together and
presented a few Saturdays ago. This was the note about that had the checklist
of items required for a project to be a mega project and had the status of
DPC on each item.
Thanks,
Wade
|
{
"pile_set_name": "Enron Emails"
}
|
Attached is a draft of a memo summarizing the procedures we discussed at our
meeting on Thursday. We will also be assisting in preparing the procedures.
Please call or e-mail if you have any questions or comments. Best regards.
----------------------------------
This e-mail is sent by a law firm and contains information
that may be privileged and confidential. If you are not the
intended recipient, please delete the e-mail and notify us
immediately.
- CreditDerivs.wpd
|
{
"pile_set_name": "Enron Emails"
}
|
FYI
NOTICE: COH OFO/OMO
Date Issued: December 11, 2000
As a result of returning cold weather and significant under-deliveries by
shippers on the Columbia Gas of Ohio (COH) system, COH is calling an
Operational Flow Order and an Operational Matching Order (OMO) for all COH
Gas Transportation Customers. The OFO/OMO is effective on gas day December
13, 2000 and will remain in effect until further notice. If conditions
warrant, these orders will be lifted to reflect the changing conditions and
COH will advise you of such changes. Customer and marketer banks are not
available during the OFO/OMO period.
This notice is applicable to the Customer Choice program. CHOICE deliveries
should always equal the customers demand curve. The OFO requires the same
level of delivery, but the tariff provides for additional costs for failure
to comply.
Customers with daily measurement devices are subject to the OMO. Those
customers or their shippers are directed to adjust the customer's consumption
and/or their deliveries to COH so that their deliveries to COH are equal to
the customer's actual consumption.
Customers without daily measurement devices are subject to the OFO. Those
customers are hereby directed to adjust their daily scheduled deliveries to
COH so that those deliveries are equal to 60% of the customer's maximum daily
volume as specified in the customer's gas transportation contract with COH.
Those customers or their shippers who fail to comply with this OFO/OMO shall
be subject to penalties for the difference as provided for in COH's tariff.
COH will continue to monitor weather conditions and demand, in order to
remove the OFO/OMO as soon as possible.
If you have questions regarding this notice, please contact your Columbia Gas
Representative.
|
{
"pile_set_name": "Enron Emails"
}
|
Oops, I meant to give you my office number if you had any questions about the
trip. It's 713-627-6559.
[email protected] on 09/20/2000 12:01:23 PM
To: Kelly OBrien/NorthAmerica/EnergyServices@DukePower
cc:
Subject: Re: Football!
Hi Kelly, Sorry I haven't gotten back to you sooner, but have been
swamped. I am thinking the South Carolina game works. However, what does
a flight to Florida cost? I need to factor that in as well, as I am
planning on going to Spain in November and probably need to watch my $$$.
I have been to several OU games in Dallas, and it is actually more fun than
the A&M game because they split the stadium 50/50 Texas OU. It is pretty
intense. I am trying to get tickets to the game this year and will
probably go.
"Kelly OBrien"
<kjobrien@duke-e To: [email protected]
nergy.com> cc:
Subject: Football!
09/18/2000 10:53
PM
Okay, here's the rest of the Gators' home schedule and the Longhorns'
schedule
for comparison.
Gators Longhorns
Oct 7 LSU Oklahoma in Dallas
Oct 14 Auburn at Colorado
Nov 11 South Carolina at Kansas
Do you go to the game Oklahoma game in Dallas? I went one year and it was
a lot
of fun.
So, if you have any desire to do this swap, let me know.
|
{
"pile_set_name": "Enron Emails"
}
|
Yes
-----Original Message-----
From: Stark, Cindy
Sent: Friday, November 02, 2001 1:31 PM
To: Horton, Stanley
Subject: FW: Floor meeting with Stan Horton
Does this look ok to you?
-----Original Message-----
From: Nelson, Kimberly (ETS)
Sent: Friday, November 02, 2001 11:17 AM
To: Stark, Cindy
Subject: Floor meeting with Stan Horton
Cindy:
Below is the e-mail to be sent to Phil Lowry's group and Danny McCarty's group announcing the floor meeting with Stan. The same memo will be sent to both groups, but changing the time and location. The message will be going out to these two groups tonight from Stan.
Thanks!
Kimberly
------------------------------------------------------------------------
Please join me for an open discussion floor meeting on Wednesday, November 7, at (time) on the (location).
This will be an opportunity for me to update you on what is currently happening within Enron, EGS and ETS, as well as an opportunity for me to answer any questions you have.
I look forward to seeing you there, and thank you for your continued hard work and support of our company.
Stan
|
{
"pile_set_name": "Enron Emails"
}
|
I am available as a last resort. I have asked Alan Aronowitz who is the GC
of Enron Global Markets to make a presentation. I will let you know. Mark
"Liz O'Sullivan" <[email protected]>
02/20/2001 11:36 AM
To: Mark Haedicke <[email protected]>
cc:
Subject: Energy and Developing Products conference
Mark:
I write this email to discuss the Energy and Developing Products conference
in Houston on March 6th, 2001. Attached please find a copy of the latest
agenda for your perusal. Mark Taylor graciously helped me find speakers for
the conference. However, I just want to confirm with you your availability
to speak on the Panel Discussion on Recent Events and the Growth of New
Products at 9:30 AM.
<<spkeragendaEnergy.doc>>
The issues to be discussed include: Power Price Spikes; Delivery Failures;
OPEC Production Decisions; Emissions Trading; and New and Developing
Products. Christophe Chassard will also speak on the panel. This is a
difficult panel to find speakers. We have invited Steve Bunkin to join
panel and still waiting for his reply. If he accepts then we will have
just three speakers on the panel. Christophe said he is comfortable
speaking about OPEC production decisions and to a lesser extent power price
spikes.
Let me know if you are available to speak. And if so, what topics on panel
you would feel comfortable discussing.
Thanks,
Liz
212-332-2559
- spkeragendaEnergy.doc
|
{
"pile_set_name": "Enron Emails"
}
|
Thanks! I handed off the fax to Christian, who said he was extremely busy
today but would try to get to it this afternoon. In the meantime, I've been
told by Chris Mallory that the most important issue is that all
index-forwards get uniform confirmation language. As far as what that
language is, I'm not sure. Is this different than the confirm letters you've
received in the past? Let me know if you need me to expedite the process and
get someone else's opinion.
Thanks,
Kate
From: Kimberly Allen 01/10/2001 06:57 AM
To: Kate Symes/PDX/ECT@ECT
cc:
Subject: Re: #485446
Kate, I just faxed over the Constellation confirm just in case you need to
view it.
Thanks,
Kimberly
Kate Symes 01/09/2001 06:51 PM
To: Kimberly Allen/HOU/ECT@ECT
cc:
Subject: Re: #485446
I've forwarded this message onto Christian Yoder, one of our lawyers. Chris
Mallory and Jeff Richter suggested I check with Christian first on the
language of these confirms. I'll get back to you first thing tomorrow.
Thanks,
Kate
From: Kimberly Allen 01/09/2001 01:48 PM
To: Kate Symes/PDX/ECT@ECT
cc:
Subject: #485446
Kate,
I received and index trade into NP15 that Chris Mallory did. For Price the
confirmations states:
The average day ahead, post congestion price for the Constrained Price as
published by the California Power Exchange for the on in the period of
delivery stated herein plus 3.00.
Is this language o.k. to accept on the confirmation.
Thanks,
Kimberly Indelicato
33031
|
{
"pile_set_name": "Enron Emails"
}
|
Jeff, Attached is the redline from your earlier revisions.
|
{
"pile_set_name": "Enron Emails"
}
|
The party originally scheduled for Thursday night at Kells has been
cancelled. The farewell party at OBA tomorrow night will include our phantom
farewell.
Where: Oba, 555 NW 12th
When: Tuesday, December 19th, 4:30 pm
Hope to see you there!
---------------------- Forwarded by Mollie Gustafson/PDX/ECT on 12/18/2000
03:49 PM ---------------------------
Mollie Gustafson
12/15/2000 03:41 PM
To: Portland West Desk
cc:
Subject: Farewell Gathering
There will be a farewell gathering on Thursday, December 21, 2000, 5:30 PM at
Kells Irish Pub, 112 SW 2nd Ave. This is a phantom farewell, to find out who
the departed one is you must come to the party!
Shhhh.....it's a surprise for all!
Hope to see you there!
Mollie
PS. Please don't ask me, I don't like to lie!
|
{
"pile_set_name": "Enron Emails"
}
|
For something that doesn't matter, it seems to matter. I wonder how well the
auto approval works when you are backdating something?
"Keffer, John" <[email protected]> on 06/05/2001 05:40:10 PM
To: "C. Kay Mann (E-mail)" <[email protected]>
cc:
Subject: FW: Ben Jacoby Signing of CAED I & II Resolutions
Are they squirming yet?
I still hold the originals in my hands pending your instructions.
-----Original Message-----
From: Kutzschbach, George [mailto:[email protected]]
Sent: Tuesday, June 05, 2001 5:31 PM
To: Kay Mann (E-mail)
Cc: John Keffer (E-mail); Doug Pedigo (E-mail); Shawn Noonan (E-mail)
Subject: Ben Jacoby Signing of CAED I & II Resolutions
Kay,
A few weeks ago I spoke with John Keffer regarding Sweetgum Energy LLC's
request that Ben Jacoby sign unanimous resolutions of CAED I & II approving
the sale by CAED I and II of their respective GE turbines to Sweetgum. As
of today, Sweetgum has not received back the resolutions signed by Ben. As I
explained to John, Sweetgum and InterGen would appreciate Ben's prompt
execution and return of the resolutions. If Enron does not wish for Ben to
sign the resolutions, then Sweetgum and InterGen would appreciate your
advising us of that as soon as possible.
As I explained to John, Sweetgum would like to have unanimous resolutions as
this is more customary and cleaner, however, since Ben received the required
3 business days prior notice of the proposed resolutions, the resolutions
only need the majority approval of the board members.
I would appreciate hearing back from you at your earliest convenience.
George
Confidentiality Notice
This message is being sent by or on behalf of a lawyer. It is intended
exclusively for the individual or entity to which it is addressed. This
communication may contain information that is proprietary, privileged or
confidential or otherwise legally exempt from disclosure. If you are not the
named addressee, you are not authorized to read, print, retain, copy or
disseminate this message or any part of it. If you have received this
message in error, please notify the sender immediately by e-mail and delete
all copies of the message.
|
{
"pile_set_name": "Enron Emails"
}
|
Marie: OK, here's a request from the outside. Have we heard from Cassandra?
Sara Shackleton
Enron North America Corp.
1400 Smith Street, EB 3801a
Houston, Texas 77002
713-853-5620 (phone)
713-646-3490 (fax)
[email protected]
----- Forwarded by Sara Shackleton/HOU/ECT on 06/05/2001 11:39 AM -----
"Thomas P Alterson" <[email protected]>
06/05/2001 11:18 AM
To: [email protected]
cc:
Subject: List of authorized traders
Sara:
Would you please send me a list of authorized traders for Enron NA Corp? We
are
updating our files and noticed that we are missing an ATL for Enron.
*ATL form:
(See attached file: ATL Enron NA Corp.doc)
Thank you,
Tom Alterson
- ATL Enron NA Corp.doc
|
{
"pile_set_name": "Enron Emails"
}
|
Steph, please print the attachment. Thank you.
-----Original Message-----
From: Walls Jr., Rob
Sent: Monday, April 09, 2001 10:28 AM
To: Derrick Jr., James
Subject: FW: PFM notice
-----Original Message-----
From: Lundstrom, Bruce
Sent: Sunday, April 08, 2001 11:36 AM
To: [email protected]; [email protected]; Katwala, Sandeep; [email protected]; Walls Jr., Rob; Kraske, Paul; Mathis, Robert; Cline, Wade; McGregor, Neil; Brownfeld, Gail; Chin, Julia H.; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]
Cc: McDonald, Rebecca; Hughes, James A.; [email protected]; [email protected]; Paxton, Jana
Subject: PFM notice
Folks -
For your files.
Bruce
|
{
"pile_set_name": "Enron Emails"
}
|
Brent: In connection with the "research memoranda" which I gave to you, the
specific issue about whether ENA can hold cash collateral posted by a
Canadian party has arisen in connection with a company named J.D. Irving,
Limited. ENA legal has spoken with Peter Keohane, two Canadian law firms and
one US law firm, and previously concluded that it was easier to simply not
accept cash. Please see what you can do! Thanks. Sara
|
{
"pile_set_name": "Enron Emails"
}
|
This is the TCo needs sheet guys, its the biggest and sometimes the most fun!
---------------------- Forwarded by Paul Drexelius/CES/ColumbiaGas on 12/29/99
07:41 AM ---------------------------
Joann Collins
12/28/99 03:11 PM
To: Paul Drexelius/CES/ColumbiaGas@ColumbiaGas
cc:
Subject: jan 2000 spreadsheet
- Jan00_Daily_Est.xls
|
{
"pile_set_name": "Enron Emails"
}
|
I have a request, AA has asked if we can repay the notes to the pipes,. Not actually, but realistically from business unrelated to the pipes. They may want to discuss with you.
--------------------------
Sent from my BlackBerry Wireless Handheld (www.BlackBerry.net)
|
{
"pile_set_name": "Enron Emails"
}
|
the 14 mm loss was due to a booking mistake that could not be corrected
before the books were posted and is being corrected tonight
Chris Abel
04/16/2001 01:08 PM
To: Mike Grigsby/HOU/ECT@ECT, John Arnold/HOU/ECT@ECT
cc: Frank Hayden/Enron@EnronXGate, Kenneth Thibodeaux/Enron@EnronXGate, Shona
Wilson/NA/Enron@Enron
Subject: Loss Limit Notification for April 11th and 12th
Mike, can you please provide an explanation for the $71mm loss on the 11th
and the $31mm loss on the 12th, for reporting purposes?
John, can you please provide an explanation for the $14mm loss on the 12th,
for reporting purposes?
Thanks,
Chris Abel
Manager, Risk Controls and Consolidated Risk Reporting
|
{
"pile_set_name": "Enron Emails"
}
|
How much involvement has A & K had on Midway? I have other counsel engaged
for the sale, but this falls into a different category.
Kay
From: Greg Krause/ENRON@enronXgate on 06/05/2001 11:35 PM
To: Ben Jacoby/ENRON@enronXgate, Kay Mann/Corp/Enron@Enron
cc: Christi L Nicolay/HOU/ECT@ECT
Subject: RE: Midway Interconnect Agreement
Please see attachment below with Christi's comments.
-----Original Message-----
From: Jacoby, Ben
Sent: Tuesday, June 05, 2001 12:22 PM
To: Mann, Kay
Cc: Krause, Greg; Nicolay, Christi
Subject: Midway Interconnect Agreement
Kay:
Greg has Christi's comments on the FPL Construction & Connection Agreement,
and he will be sending us those comments today in a marked document. Have we
engaged outside counsel to review this agreement? I'd like to have a
commercial / legal review fully completed, and then get accounting / finance
to comment. I this something you were planning to have Carlos to work on
given his recent work on ComEd and Ameren?
Please let me know. Thanks.
Attached is the original generic form of FPL Connection and Construction
Agreement for your reference.
Ben
|
{
"pile_set_name": "Enron Emails"
}
|
The Government Affairs group is involved in diverse and complex activities. Tracking and quantifying these activities is important for several obvious reasons - to keep upper management apprised of our activities; to illustrate the value added and risk managed by our group; and to keep each other properly informed so that we can better coordinate our efforts.
Currently, these activities take place on an ad-hoc manual basis, which is time-consuming and inefficient. We have a tool already in place to track our activities - the Project Tracking database in Lotus Notes. Currently this application is used primarily for RCR's, but beginning November 1, 2001, the Government Affairs group will use this application to track all projects and efforts - replacing the need for manual updated spreadsheets and activity quantification "fire-drills". The Projects have several features to allow capture of sub-sets of information, including Updates, Risk, Origination and Valuation.
** Please note that this will become the only way that we'll gather this information. In other words, if you don't enter your data into Project Tracking, we won't know what you're doing! **( all other reports will be eliminated)
The current Lotus Notes application will be discontinued as of October 31,2001 and will be converted to a web-based product. You'll find the web-based version as easy or even easier to use than Lotus Notes. Additionally, conversion to a new database structure will allow for more versatile report extraction.
Before the conversion of the project data from Lotus Notes to Oracle, we need to do some data cleanup. Please expect a call in the next two weeks from Elizabeth Linnell, Bryan Gottfredson, or Darran Binns to schedule some time with you in person or on the phone regarding your current project list, additional projects to add, and a brief overview of the new system. Please feel free to call me if you have any questions and/or concerns.
|
{
"pile_set_name": "Enron Emails"
}
|
---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 12/22/2000
05:33 PM ---------------------------
Vince J Kaminski
12/19/2000 08:46 PM
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: DPC Memo
---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 12/19/2000
08:47 PM ---------------------------
Sandeep Kohli@ENRON_DEVELOPMENT
12/17/2000 06:42 AM
To: Vince J Kaminski@ECT
cc:
Subject: DPC Memo
Vince,
I am in Houston (rrived Satruday), and will be in office on Monday (though
officially, I am on vacation). Would like to catch up with you if possible.
It looks like your team will be getting involved in some form on the DPC
side. I have already made a recommendation to Wade.
I am attaching a small memo that I have addressed to Wade on the DPC position
and possible workout. This is still a draft and will likely get shared later
with others. I would love to get your comments on the same. At the same
time, this also will give you some idea of the problem, in conjunction with
the other Plan presentation I had sent you.
Look forward to touching base with you.
Regards,
Sandeep.
|
{
"pile_set_name": "Enron Emails"
}
|
I can't believe that I said what I did this morning. It was selfish and I
sincerely appologize. I don't know what I was thinking or why. Well, I
just listened to your message and I deserve all of it. Even though you may
not believe it. I do love you, but many times cannot justify my actions. I
love you very much, and will call you later.
D
|
{
"pile_set_name": "Enron Emails"
}
|
Insert at p. 42 as ARTICLE XII.
ARTICLE XII.
ADJUSTMENTS REGARDING UNITS WITH
SERIAL NUMBERS LISTED IN EXHIBIT P
12.1 Adjustments in Performance Guarantees to Reflect Site Conditions.
Seller recognizes that the Sites for the Units identified and listed by
serial number in Exhibit P have not been identified by Purchaser. When the
Site for each such Unit has been identified and the corresponding Site
conditions for each such Unit has been provided by Purchaser to Seller,
Seller and Purchaser agree to amend the Guaranteed Levels and the Specific
Performance Levels for each such Unit to reflect changes in the Basis
Conditions made to reflect the Site conditions for each such Unit. The
Guaranteed Levels and Specific Performance Levels as so amended will be
consistent with those customarily provided by Seller for other LM 6000
Enhanced Sprint combustion turbine generator units in the United States with
comparable Site conditions.
12.2 Storage of Unit(s). Seller and Purchaser recognize and agree that the
period or periods during which any of the Units identified and listed by
serial number in Exhibit P is placed in storage (a) by Seller pursuant to
Section 10.2.7 or (b) by Purchaser, as agreed between Seller and Purchaser,
shall not be considered, directly or indirectly, in determining the
commencement of the Primary Warranty Period or the Extended Warranty Period,
or both.
12.3 Maximum Period of Seller Liability. To the extent any Unit identified
and listed by serial number in Exhibit P is placed in storage as contemplated
in Section 12.2, the duration of such storage period shall be added, in the
case of each such Unit, to the six (6)-year period identified in the last
sentence of Section 27.1 for purposes of calculating the maximum duration of
Seller's liability with respect to any such Unit and with respect to this
Agreement.
12.4 No Effect on Cost, Schedule or Scope of Work. Seller and Purchaser
agree that implementation of the provisions and agreements of this Article
XII shall be at no additional cost or result in any other change or impact to
or upon the Scope of Work, Purchase Amount or Guaranteed Unit Delivery Dates,
or all of them.
|
{
"pile_set_name": "Enron Emails"
}
|
These are the latest versions that we have been working on. The other
Exhibits have not been modified.
|
{
"pile_set_name": "Enron Emails"
}
|
Debra Perlingiere
Enron North America Corp.
Legal Department
1400 Smith Street, EB 3885
Houston, Texas 77002
[email protected]
Phone 713-853-7658
Fax 713-646-3490
----- Forwarded by Debra Perlingiere/HOU/ECT on 05/15/2001 09:18 AM -----
Theresa Staab@ENRON
05/15/2001 08:04 AM
To: Debra Perlingiere/HOU/ECT@ECT
cc:
Subject: Re: Citation
Debra,
This looks good. I apologize again for the mix up.
Theresa
(303) 575-6485
Debra Perlingiere@ECT
05/14/2001 04:19 PM
To: Theresa Staab/Corp/Enron@ENRON
cc:
Subject: Re: Citation
Here is the revised confirm.
Debra Perlingiere
Enron North America Corp.
Legal Department
1400 Smith Street, EB 3885
Houston, Texas 77002
[email protected]
Phone 713-853-7658
Fax 713-646-3490
|
{
"pile_set_name": "Enron Emails"
}
|
At lunch two weeks ago, I promised to send you something. I forgot what it
was.
|
{
"pile_set_name": "Enron Emails"
}
|
The South American Legal Team meeting will take place today at 2:30 p.m. in
EB38c1.
|
{
"pile_set_name": "Enron Emails"
}
|
John:
We are going to try and call you to discuss this transaction.
Thanks,
Brett
|
{
"pile_set_name": "Enron Emails"
}
|
---------------------- Forwarded by Tana Jones/HOU/ECT on 02/18/2000 04:20 PM
---------------------------
Molly Harris
02/18/2000 04:11 PM
To: Frank L Davis/HOU/ECT@ECT, Karen Lambert/HOU/ECT@ECT, Tana
Jones/HOU/ECT@ECT, Samuel Schott/HOU/ECT@ECT
cc: Sheri Thomas/HOU/ECT@ECT, Mark Taylor/HOU/ECT@ECT, Bernice
Rodriguez/HOU/ECT@ECT, Tom Moran/HOU/ECT@ECT, Brant Reves/HOU/ECT@ECT, Debbie
R Brackett/HOU/ECT@ECT, Brian Hunter-Lindsay/LON/ECT@ECT, Coenraad
Basson/LON/ECT@ECT, Bhautik Patel/LON/ECT@ECT, David Hardy/LON/ECT@ECT, David
Weekes/LON/ECT@ECT, Sylvia A Campos/HOU/ECT@ECT, Carrie Southard/HOU/ECT@ECT,
Lisa Gillette/HOU/ECT@ECT
Subject: EOL Credit Responses 2/18
Please find attached Credit's EOL responses for 2/18/00.
Regards
Molly
|
{
"pile_set_name": "Enron Emails"
}
|
have you heard any more about vegas?
|
{
"pile_set_name": "Enron Emails"
}
|
nice. texas humor.
-----Original Message-----
From: Laurel hazzard [mailto:[email protected]]
Sent: Monday, October 08, 2001 4:14 PM
To: Smith, Matt
Subject: Fwd: FW: A fine ebay product
This is funny...
>From: Emily Niedermeyer <[email protected]>
>To: kelly adams <[email protected]>, John Olson
><[email protected]>, Laurel hazzard <[email protected]>, Lisa Hessel
><[email protected]>, Monica Niedermeyer <[email protected]>, Jamie Pike
><[email protected]>, Yvonne Williams <[email protected]>, justin kerr
><[email protected]>, Tom Shipley <[email protected]>, Steven
>Pike <[email protected]>, Steve Christie <[email protected]>, Dana Lydon
>Reed <[email protected]>
>Subject: FW: A fine ebay product
>Date: Mon, 08 Oct 2001 09:33:37 -0700
>
>this is funny......
>
>Emily Niedermeyer
>Director of Development
>Pacific University
>2043 College Way
>Forest Grove, Oregon 97116
>Ph: 503/359-2890 or 877-722-8648 x2890
>Cell: 503/708-1858
>Fax: 503/359-2252
>E-mail: [email protected]
>Web: www.pacificu.edu
>
>"And thence we came forth to see again the stars."
> ?Dante
>
>----------
>From: "John D. Olson" <[email protected]>
>Date: Sat, 6 Oct 2001 20:45:24 -0700
>To: <Undisclosed-Recipient:;>
>Subject: A fine ebay product
>
>
>
>
> check it out!
>
> http://home.houston.rr.com/surrenderownz/auction.htm
>
>
>
>
_________________________________________________________________
Get your FREE download of MSN Explorer at http://explorer.msn.com/intl.asp
|
{
"pile_set_name": "Enron Emails"
}
|
Natsource is going to have to give you a trader name on this because I've
asked all of them and nobody recognizes it.
Kate
Kerri Thompson@ENRON
03/13/2001 02:29 PM
To: Kate Symes/PDX/ECT@ECT
cc:
Subject: natsource checkout
missing deal
trader?
call
buying tractebel
april
pv
250.00 strike
9.00 prem
25 mw
|
{
"pile_set_name": "Enron Emails"
}
|
QB--D. culpepper
RB--E. george
RB-- K anders
REC--A. Freeman
REC--T. Gonzalez
REC--K Lockett
K--M Gramatica
DEF--NY Giants
|
{
"pile_set_name": "Enron Emails"
}
|
I hope to leave by 3:30 Eastern Time. Thanks for getting back to me so
quickly. Though, I'm surprised u guys are open for business today.
-----Original Message-----
From: [email protected] [mailto:[email protected]]
Sent: Friday, April 13, 2001 9:41 AM
To: [email protected]
Subject: RE: ISDA Schedule/Paragraph 13
Yair:
I've left a message with Tracy Ngo (in Portland) and will let you know as
soon as I hear from her. How long will you be in the office today?
Sara Shackleton
Enron North America Corp.
1400 Smith Street, EB 3801a
Houston, Texas 77002
713-853-5620 (phone)
713-646-3490 (fax)
[email protected]
"Yaish, Yair
(OGC)" To:
"'[email protected]'" <[email protected]>
<YYaish@exchan cc:
ge.ml.com> Subject: RE: ISDA
Schedule/Paragraph 13
04/13/2001
08:28 AM
Sara, Allegheny would like to be able to assign to affilaites in the same
manner that we are allowing Enron to make an ssignment so long as the Gty
goes along. In our case, however, there is no gty, hence the stipualtion
that such assignment must be to an entity with an equal or better credit
rating. If you wish, I can limit such assignment to an entity rated at
least BBB+ or better. Would that resolve your concerns?
-----Original Message-----
From: [email protected] [mailto:[email protected]]
Sent: Thursday, April 12, 2001 12:26 PM
To: [email protected]
Subject: RE: ISDA Schedule/Paragraph 13
Yair:
It's a good thing you didn't try to get back to me! Sorrry.
(See attached file: AlleghenyCPformacceptR1.DOC)
Sara Shackleton
Enron North America Corp.
1400 Smith Street, EB 3801a
Houston, Texas 77002
713-853-5620 (phone)
713-646-3490 (fax)
[email protected]
"Yaish, Yair
(OGC)" To:
"'[email protected]'" <[email protected]>
<YYaish@exchan cc:
ge.ml.com> Subject: RE: ISDA
Schedule/Paragraph 13
04/12/2001
10:16 AM
Sara, sorry i didn't get back to you yesterday, I was out sick. I didn't
notice anything attached, did u send a subsequent e-mail?
-----Original Message-----
From: [email protected] [mailto:[email protected]]
Sent: Wednesday, April 11, 2001 4:01 PM
To: [email protected]
Cc: [email protected]
Subject: RE: ISDA Schedule/Paragraph 13
Importance: High
Yair:
Attached is my redline. Call me so that we can discuss the remaining
issues, including:
(1) Calculation Agent. We believe that the existing dispute mechanism is
adequate.
(2) Procedures for Entering into Transactions. There is no procedure for
dual confirms. This is too confusing.
(3) Transfer. We cannot agree to your assignment provision as it is too
subjective.
The other changes were not substantive.
Sara Shackleton
Enron North America Corp.
1400 Smith Street, EB 3801a
Houston, Texas 77002
713-853-5620 (phone)
713-646-3490 (fax)
[email protected]
"Yaish, Yair
(OGC)" To:
"'[email protected]'" <[email protected]>
<YYaish@exchan cc:
ge.ml.com> Subject: RE: ISDA
Schedule/Paragraph 13
04/10/2001
07:46 AM
Sara, any thoughts on my comments ISDA I sent out last week?
-----Original Message-----
From: Yaish, Yair (OGC)
Sent: Thursday, April 05, 2001 6:19 PM
To: '[email protected]'
Subject: RE: ISDA Schedule/Paragraph 13
Sara, I have good news, I think we are very close to executing this baby.
I am attahcing comments to the ISDA. They reflect comments by our outside
cousel which highlight the differences between this contract and the side
letter/ML ISDA. They are not much. I have also made some changes directly
on their draft where I either concurred with Enron or needed to make some
of my own changes. Pls review and let me know what you think.
I will be leaving the office soon, so if we can wrap it up tomorrow that
would be great (I'm out Monday for Passover).
Yair Yaish
Director and Senior Counsel
Allegheny Energy Global Markets, LLC
212-236-7346
-----Original Message-----
From: [email protected] [mailto:[email protected]]
Sent: Friday, March 30, 2001 4:10 PM
To: [email protected]
Subject: ISDA Schedule/Paragraph 13
Yair:
Attached is a blacklined (against the Enron North America Corp. draft of
3/15/01) Schedule and Paragraph 13 to the ISDA Credit Support Annex. I
have tried to incorporate the essence of the March 19, 2001 "swap side
letter agreement." Please call me to discuss as it would be nice to
finalize by April 6. Thanks.
(See attached file: 098a Blackline ctr (Allegheny Energy Supply).doc)
Sara Shackleton
Enron North America Corp.
1400 Smith Street, EB 3801a
Houston, Texas 77002
713-853-5620 (phone)
713-646-3490 (fax)
[email protected]
|
{
"pile_set_name": "Enron Emails"
}
|
Mike,
This memo has not been distributed yet. First, Sally wanted me to forward to
you to make sure you are aware of and can meet timelines listed. When done,
please forward back to me for distribution. Sally is on vacation this week &
will return to the office Dec. 27.
Thanks,
Patti x39106
Please note the following schedule for risk book reporting during the holiday
period:
Trade Date Enron Status NYMEX Equity Market Consolidated Risk Reporting
Fri, 12/22 Open Early Close Open DPR published for 12/21 results (a)
Mon, 12/25 Holiday (b) Closed Closed DPR not published
Tues, 12/26 Holiday (b) Open Open DPR not published (c)
Wed, 12/27 Open Open Open DPR published for 12/22 and 12/26
results
Thurs, 12/28 Open Open Open DPR published for 12/27 results
Fri, 12/29 Open Early Close Open DPR published for 12/28 results (a)
Mon, 1/1 Holiday (b) Closed Closed DPR not published
Tues, 1/2 Open Open Open DPR published for 12/29. Normal month
end schedule applies. (d)
(a) Trader P&L and Position reports will be produced for traded products at
close of business
(b) US, Canadian & London holiday
(c) Logistics and risk personnel will be in the office on this holiday to
support trading activity
(d) Monthly close procedures require that changes or adjustments to risk
books for month-end be submitted by 5:00 pm Houston time on the first
business day following the end of the month. The DPR published on 1/2 for
12/29 results will be preliminary. The final DPR for 12/29 should be
published on 1/3, assuming that all month-end adjustments have been received
on 1/2.
Distribution:
Jeff Skilling/Corp/Enron, Mark Frevert/NA/Enron, Greg Whalley, David W
Delainey/HOU/ECT, John J Lavorato/CAL/ECT@ECT, Michael McConnell, Jeffrey A
Shankman/HOU/ECT, Jeff McMahon, Ray Bowen, John Sherriff/LON/ECT, Michael R
Brown/LON/ECT, Rick Buy/HOU/ECT, Richard Causey/Corp/Enron, Ted
Murphy/HOU/ECT@ECT, Wes Colwell/HOU/ECT
cc: Louise Kitchen/HOU/ECT
|
{
"pile_set_name": "Enron Emails"
}
|
hello ladies! just wanted to let you know that i am now on instant messanger under susieschnitz (jon picked that as a joke-i hate being called susie!)
|
{
"pile_set_name": "Enron Emails"
}
|
Anne, per our discussion, could you get with Rosalie Fleming about this?
<<AutoRecovery save of President Bush Invite Letter.wbk>>
- AutoRecovery save of President Bush Invite Letter.wbk
|
{
"pile_set_name": "Enron Emails"
}
|
Yair:
Attached is my redline. Call me so that we can discuss the remaining issues,
including:
(1) Calculation Agent. We believe that the existing dispute mechanism is
adequate.
(2) Procedures for Entering into Transactions. There is no procedure for
dual confirms. This is too confusing.
(3) Transfer. We cannot agree to your assignment provision as it is too
subjective.
The other changes were not substantive.
Sara Shackleton
Enron North America Corp.
1400 Smith Street, EB 3801a
Houston, Texas 77002
713-853-5620 (phone)
713-646-3490 (fax)
[email protected]
"Yaish, Yair (OGC)" <[email protected]>
04/10/2001 07:46 AM
To: "'[email protected]'" <[email protected]>
cc:
Subject: RE: ISDA Schedule/Paragraph 13
Sara, any thoughts on my comments ISDA I sent out last week?
-----Original Message-----
From: Yaish, Yair (OGC)
Sent: Thursday, April 05, 2001 6:19 PM
To: '[email protected]'
Subject: RE: ISDA Schedule/Paragraph 13
Sara, I have good news, I think we are very close to executing this baby.
I am attahcing comments to the ISDA. They reflect comments by our outside
cousel which highlight the differences between this contract and the side
letter/ML ISDA. They are not much. I have also made some changes directly
on their draft where I either concurred with Enron or needed to make some of
my own changes. Pls review and let me know what you think.
I will be leaving the office soon, so if we can wrap it up tomorrow that
would be great (I'm out Monday for Passover).
Yair Yaish
Director and Senior Counsel
Allegheny Energy Global Markets, LLC
212-236-7346
-----Original Message-----
From: [email protected] [mailto:[email protected]]
Sent: Friday, March 30, 2001 4:10 PM
To: [email protected]
Subject: ISDA Schedule/Paragraph 13
Yair:
Attached is a blacklined (against the Enron North America Corp. draft of
3/15/01) Schedule and Paragraph 13 to the ISDA Credit Support Annex. I
have tried to incorporate the essence of the March 19, 2001 "swap side
letter agreement." Please call me to discuss as it would be nice to
finalize by April 6. Thanks.
(See attached file: 098a Blackline ctr (Allegheny Energy Supply).doc)
Sara Shackleton
Enron North America Corp.
1400 Smith Street, EB 3801a
Houston, Texas 77002
713-853-5620 (phone)
713-646-3490 (fax)
[email protected]
|
{
"pile_set_name": "Enron Emails"
}
|
Please see if you can get a conference room, allowing 2 hours for the meeting.
Thanks,
Kay
---------------------- Forwarded by Kay Mann/Corp/Enron on 09/15/2000 04:38
PM ---------------------------
Enron North America Corp.
From: Kay Mann 09/15/2000 04:36 PM
To: Christi L Nicolay/HOU/ECT@ECT, Mitch Robinson/Corp/Enron@Enron, Larry
Soderquist/HOU/ECT@ECT, Reagan Rorschach/NA/Enron@Enron, [email protected]
cc: Heather Kroll/HOU/ECT@ECT, Ozzie Pagan/HOU/ECT@ECT, Ben
Jacoby/HOU/ECT@ECT
Subject: VEPCO interconnection agreement
How does everybody look for a discussion concerning the VEPCO interconnection
agreement on Tuesday, Sept 19?
I've checked with Christi, Mitch and Reagan, so they don't need to confirm.
Details to follow...
Thanks,
Kay
|
{
"pile_set_name": "Enron Emails"
}
|
Hey,
I'm taking off for an hour, here are our positions. I have to run some
errands and will be back. I'm stopping at home too (403-245-1668). If no
problem, just email me the positions, or I'll be back before....
Ryan
|
{
"pile_set_name": "Enron Emails"
}
|
You asked; we answered. Many of you shared your ideas with us about what you
think will make the New Peoplefinder a better information resource. You
suggested that we add aliases (AKAs) and fax, pager, and cell numbers. We
did. Keep sending us your good ideas, click "Contact us" on peoplefinder.
Thanks for your support.
The Vision and Values Task Force
P.S. Did you update your data on eHRonline yet?
|
{
"pile_set_name": "Enron Emails"
}
|
---------------------- Forwarded by Chris Germany/HOU/ECT on 10/10/2000 02:45
PM ---------------------------
Chris Germany
10/10/2000 02:38 PM
To: Steve Gillespie/Corp/Enron@ENRON, Scott Hendrickson/HOU/ECT@ECT, Dick
Jenkins/HOU/ECT@ECT
cc: Dan Junek/HOU/ECT@ECT, Scott Goodell/Corp/Enron@ENRON, Judy
Townsend/HOU/ECT@ECT, Victoria Versen/HOU/ECT@ECT, Mark Breese/HOU/ECT@ECT,
Robert Superty/HOU/ECT@ECT, Cindy Vachuska/HOU/ECT@ECT, Sabra L
Dinari/HOU/ECT@ECT (bcc: Chris Germany/HOU/ECT)
Subject: VNG Tennessee Transport
Dan and I spoke with Jim Eckert at Tenn - VNG is his customer. Following are
the MDQ's and rates on the Tennessee contracts effective 11/1/2000
Contract MDQ Delivery Point Demand Comm Comment
47 16,373 S Webster $6.0800 $.0500 Demand is $6.08 for daily volumes
below 4,723 per day.
Demand goes to $7.61 for daily volumes above 4,723 per day.
21881 4,599 S Webster $7.61 $.0500 See below
21882 518 S Webster $7.61 $.0500 See below
Comments:
If we flow to any points other than the primary delivery point, the demand
charge goes to max rate which is about $9.80.
Questions for Tennessee;
What are the rates for October?
Do the differences in demand and commodity apply to daily quantities or
monthly quantities?
|
{
"pile_set_name": "Enron Emails"
}
|
My understanding is that we have been cut for the 1st on HPL's transportation
to 8,000 MMBtu/d.
Therefore, we are reducing our nom for 5/1 and following to 40,800 MMbtu/d.
The redeliveries are as follows:
7,800 from Fuels Cotton Valley
8,000 into PG & E
25,000 to HPL's cartwheel agreement at Carthage
For DEFS' info, we will have 3,720 MMBtu/d available
at the tailgate of Carthage for sale.
|
{
"pile_set_name": "Enron Emails"
}
|
i think that i am skipping having a drink with you. have fun at your dinner tonight!
|
{
"pile_set_name": "Enron Emails"
}
|
10/11 - See fax & letter for reference. RSVP to Nicki
|
{
"pile_set_name": "Enron Emails"
}
|
Monica Lande
02/02/2001 10:34 AM
To: Robert Badeer/HOU/ECT@ECT
cc:
Subject: Index forwards/swaps
|
{
"pile_set_name": "Enron Emails"
}
|
Tana: per my voice mail re: EOL.
----- Forwarded by Sara Shackleton/HOU/ECT on 07/31/2000 08:18 AM -----
Noel Petterson@ENRON
07/31/2000 08:05 AM
To: Sara Shackleton/HOU/ECT@ECT
cc:
Subject: Re: Alcoa Master Agreement
Sara, Would you please take a look at the email below regarding Alcoa's
Master Agreement with Enron. Thank you. - Noel
---------------------- Forwarded by Noel Petterson/Corp/Enron on 07/31/2000
08:00 AM ---------------------------
Carol St Clair @ ECT 07/30/2000 09:22 AM
To: Noel Petterson/Corp/Enron@ENRON
cc: Sara Shackleton/HOU/ECT@ECT
Subject: Re: Alcoa Master Agreement
Noel:
I am on maternity leave. Please contact Sara Shackleton about this.
Carol St. Clair
EB 3892
713-853-3989 (Phone)
713-646-3393 (Fax)
[email protected]
Noel Petterson@ENRON
07/28/00 02:56 PM
To: Carol St Clair/HOU/ECT@ECT
cc: Frank L Davis/HOU/ECT@ECT
Subject: Alcoa Master Agreement
Carol,
Tim Reyes of Alcoa would like to make sure that their current master
agreement with Enron will encompass trading metal products, specifically,
aluminum products on EOL. I am hoping that you are the correct person to
answer his question.
If you require more information Please contact Mr. Reyes at 865-594-4734.
Thank you,
Noel
|
{
"pile_set_name": "Enron Emails"
}
|
Mark:
Per my voice mail.
Jeff
----- Forwarded by Jeffrey T Hodge/HOU/ECT on 06/07/2001 05:15 PM -----
Eric Boyt/ENRON@enronXgate
06/07/2001 04:32 PM
To: Neal Gerstandt/ENRON@enronXgate
cc: Eric Moon/ENRON@enronXgate, Jeffrey T Hodge/HOU/ECT@ECT
Subject: Confidential & Proprietaty - Udated PanNat Value
As requested...
Value of Deal (based on 6/5/01 curves - July 2001 out) $156,243,990
Estimated "Unwind" costs $ 35,000,000
Total Est. Exposure to Duke's #1 Position $191,243,990
Exposure to Duke's #2 Position (No Transport) $ 56,483,885
Let either of us know if you have any additional questions.
Regards,
Eric
|
{
"pile_set_name": "Enron Emails"
}
|
Chic-fil-a??? No problem 4,053,906 sounds good.
[email protected] on 08/25/2000 07:10:13 AM
To: " - *[email protected]" <[email protected]>
cc: " - *[email protected]" <[email protected]>, " - *Kinney,
Doug" <[email protected]>
Subject: Re: Theoretical Storage
CG-would you be willing to agree to my number of 4,053,906? It would help
much
with the storage documentation for the sale to NPC. Lunch at Chik-fil-a is on
me.
Thanks.
[email protected] on 08/23/2000 03:45:38 PM
Please respond to [email protected]
To: Doug Kinney/CES/ColumbiaGas@COLUMBIAGAS, Jeffrey
Porter/CES/ColumbiaGas@COLUMBIAGAS
cc: [email protected]
Subject: Re: Theoretical Storage
AND my COH balance effective 7/31/2000 is 4,053.932 ( a difference of 26dt's).
[email protected] on 08/23/2000 02:15:45 PM
To: [email protected]
cc: [email protected], [email protected]
Subject: Re: Theoretical Storage
Here are the theoretical storage volumes based on the schedule, not noms...
MSQ schd Theoretical Balance
(Embedded image moved to file: pic14354.pcx)
[email protected] on 08/23/2000 01:27:23 PM
To: " - *Kinney, Doug" <[email protected]>, " -
*[email protected]" <[email protected]>, " -
*[email protected]" <[email protected]>
cc:
Subject: Theoretical Storage
We need to reach an agreement on the theoretical storage as CES needs to
transfer to NPC a specific volume and price for COH, and AGL ESS, WSS and
Sonat. I had thought we had an understanding that CES would be billed, per
Melissa's memo of 3/15 and conversations during June, the percentages times
the
current month's storage capacity. We may have confused you by sending FOM
noms
for storage injections that were different than that formula, and Doug has
noticed the bills from ENA tend to represent the noms.
How should this be resolved? Should we go on ENA billed volumes or by the
formula? Let me know.
My calculations per the formula would give us the following balances for
7/31/00...
COH-4,053,906
AGL-Sonat- 504,379
AGL-ESS-9,827
AGL-WSS-220,209
(See attached file: pic14354.pcx)
- pic14354.pcx
|
{
"pile_set_name": "Enron Emails"
}
|
When: Tuesday, January 29, 2002 3:00 PM-4:00 PM (GMT-06:00) Central Time (US & Canada).
Where: 5102
*~*~*~*~*~*~*~*~*~*
Meet to discuss plan for pipeline start-up.
|
{
"pile_set_name": "Enron Emails"
}
|
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