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kaminski-v/sent/4636.
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21471894.1075856947242.JavaMail.evans@thyme
|
Tue, 11 Jan 2000 10:03:00 -0800 (PST)
|
Re: Congrats Donna,
Thanks.
Vince
Enron North America Corp.
From: Donna Dye 01/11/2000 03:35 PM
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: Congrats
Congratulations on your promotion! That is really good.
|
||
kean-s/all_documents/2168.
|
23907398.1075846199739.JavaMail.evans@thyme
|
Fri, 8 Dec 2000 00:08:00 -0800 (PST)
|
Re: Government / Regulatory Affairs Opportunities LaRence is running up against the deadline for associates to be promoted or
move out. Here is my concern: LaRence has been worked for a number of people
who ended up leaving the company: he worked for Dave Ramm at Enron Wind
(Dave left). He also worked for John Palmisano who also has left the
company. He ended up in a structuring group working for Brad Richter. It's
hard to sort out what happened there but perhaps because of LaRence's lack of
interest in the area, which he apparently expressed to Brad, he has not done
much structuring work and Brad is not inclined to promote him or keep him in
the organization. He has been told that he needs to find something now.
Could you guys look into this? Perhaps we could either extend his deadline,
or find him something through the redeployment process?
----- Forwarded by Steven J Kean/NA/Enron on 12/08/2000 07:28 AM -----
Richard Shapiro@ENRON
12/08/2000 07:10 AM
To: LaRence Snowden/Enron Communications@ENRON COMMUNICATIONS
cc: James D Steffes/NA/Enron@Enron@ENRON COMMUNICATIONS, Steven J
Kean/NA/Enron@ENRON@ENRON COMMUNICATIONS
Subject: Re: Government / Regulatory Affairs Opportunities
I don't really have a need anywhere in my group at the momment- will keep you
advised of any changes.
LaRence Snowden@ENRON COMMUNICATIONS
12/06/2000 04:21 PM
To: Richard Shapiro/NA/Enron@ENRON, James D Steffes/NA/Enron@Enron
cc: Steven J Kean/NA/Enron@ENRON
Subject: Government / Regulatory Affairs Opportunities
Per a conversation with Steve Kean, I am forwarding a copy of my resume for
your review. Since coming to Enron, I have desired an opportunity in our
Government / Regulatory Affairs area. While here, I have been involved in
the commercial end of the business; primarily on the international side and
now in EBS. I would like to discuss possible opportunities with you as soon
as possible.
Thanks for your consideration.
LaRence B. Snowden
Enron Broadband Services - Structuring
(713) 853-5132
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davis-d/deleted_items/family/11.
|
27618842.1075861238664.JavaMail.evans@thyme
|
Fri, 5 Oct 2001 08:42:42 -0700 (PDT)
|
Read John 10:11-21 Tell Kevin to read it also. Remember the dream that I told you about this
week?
BA
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kaminski-v/all_documents/10502.
|
21246017.1075856772024.JavaMail.evans@thyme
|
Fri, 11 Feb 2000 09:47:00 -0800 (PST)
|
Public Affairs Organizational Announcement =20
I am pleased to announce the following changes in the government and=20
regulatory affairs organization:
Rick Shapiro =01) Managing Director of Government Affairs for the Americas.=
=20
Rick is currently leading the government and regulatory affairs teams for t=
he=20
US and Canada. He will now assume responsibility for North and South=20
America. Ricardo Charvel (Senior Director of Government Affairs for=20
Mexico), Jose Bestard (Vice President of Government Affairs for South=20
America), and Joe Hillings (Vice President of Federal Government Affairs)=
=20
will now report to Rick. Rick and his team will support Enron=01,s North=
=20
American business units as well as the Caribbean and Southern Cone regions.
Mark Schroeder =01) Vice President Government Affairs for Europe, Asia and=
=20
Africa. Mark is currently leading the government and regulatory affairs=20
teams for Enron Europe. He will now assume the additional responsibility o=
f=20
supporting the APACHI and India organizations. Jane Wilson will now focus=
=20
her attention on Enron India and will report to Mark as will our government=
=20
and regulatory affairs teams serving the APACHI region.
Mike Terraso =01) Vice President Environment, Health & Safety and Chief=20
Environmental Officer. Mike is currently serving as Vice President of=20
Environment, Health and Safety for the gas pipeline group. Mike has=20
increasingly become involved in environmental issues facing Enron=01,s=20
businesses around the world. Mike will retain his current responsibilities=
=20
and will assume leadership of the environmental affairs team.
John Hardy =01) Vice President Global Project Finance. John will report=20
directly to me and will continue his current responsibilities representing=
=20
Enron before US and multilateral project finance agencies.
Please join in me in congratulating these individuals on their=20
responsibilities.
Attached is a revised organization chart reflecting these changes.
Attachment: =20
|
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delainey-d/_sent_mail/503.
|
22610956.1075854490769.JavaMail.evans@thyme
|
Mon, 10 Jul 2000 16:33:00 -0700 (PDT)
|
United Way Executive Breakfasts ---------------------- Forwarded by David W Delainey/HOU/ECT on 07/10/2000=
=20
11:29 PM ---------------------------
=20
=09Enron North America Corp.
=09
=09From: Ken Lay, Jeff Skilling & Joe Sutton @ ENRON =
=20
07/10/2000 05:47 PM
=09
Sent by: Office of the Chairman@ENRON
To: All Vice Presidents and Above
cc: =20
Subject: United Way Executive Breakfasts
Please join us for one of the Executive Breakfasts at DePelchin Children=01=
,s=20
Center, our adopted agency for this year and one of the more than 80=20
community organizations supported by the United Way of the Texas Gulf Coast=
. =20
The Executive Breakfasts will focus on our 2000 campaign. To reach our goa=
l=20
of $2,310,000, it will take the active leadership and support of each of=
=20
you. We look forward to seeing all of you at one of the breakfasts.=20
Event: Executive Breakfast
Date: Thursday, August 3, 2000 (hosted by Joe Sutton)
or
Friday, August 4, 2000 (hosted by Jeff Skilling)
Time: 7:45-9:00 a.m.
Location: DePelchin Children=01,s Center
100 Sandman (close to Memorial and Shepherd intersection)
=20
Transportation: Bus will depart from the Enron Building (Andrews Street sid=
e)=20
promptly at 7:30 a.m.
NOTE: Bus transportation is encouraged, due to limited onsite parking.=20
However, if you should need to drive, a map will be provided.
Please R.S.V.P. no later than Wednesday, July 26 to confirm your attendance=
=20
and bus transportation to Jessica Nunez=20
at 853-1918.
|
||
kean-s/all_documents/1215.
|
18611491.1075846171396.JavaMail.evans@thyme
|
Mon, 28 Aug 2000 07:02:00 -0700 (PDT)
|
Energy Central Competition and Deregulation Forum - 08-25-00 fyi
---------------------- Forwarded by Peggy Mahoney/HOU/EES on 08/28/2000 02:01
PM ---------------------------
[email protected]@mail.energycentral.com on 08/25/2000
12:22:19 PM
Please respond to [email protected]
To: <[email protected]>
cc:
Subject: Energy Central Competition and Deregulation Forum - 08-25-00
----------------------------------------------------------------------
Energy Central Deregulation Public Forum Question
August 25, 2000
http://www.energycentral.com
----------------------------------------------------------------------
* The Energy Central Deregulation Public Forum Question is a feature of
* Energy Central's Competition and Deregulation Topic Center. Find this
* week's question and the previous questions and answers by pointing your
* browser to:
* http://www.energycentral.com/sections/surveys/
**********************************************************************
* NEW QUESTION (respond to [email protected]):
*
Although natural gas is used to make only 25% of the electricity
generated in the U.S., almost 95% of all power plants planned for
the future are expected to be fired by natural gas. However, shortages
caused by cutbacks in exploration budgets and restrictions on where
new drilling can occur have analysts predicting gas prices this winter
will be the highest they've ever been. Should there be a change in
policy to encourage exploration and production of natural gas on
federal lands and the continental shelf to help meet future demand
requirements?
*
* RESPONSE DEADLINE: September 15, 2000, 5 P.M. MDT
* Please keep your responses short and to the point. Selected
* responses will be published in the next Deregulation Public
* Forum e-mail.
*
**********************************************************************
**********************************************************************
* PREVIOUS QUESTION (Responses published below):
*
Uncontrolled prices spikes in the wholesale market have caused
electric bills to soar for San Diego Gas & Electric customers
this summer. Are power generators deliberately manipulating the
market to obtain higher profits and, if so, should price caps be
imposed to protect ratepayers?
*
**********************************************************************
**********************************************************************
* WHAT IS THIS?
* The Deregulation Watch Public Forum is a free interactive service
* provided by Energy Central. Every three weeks we address
* an issue related to the deregulation and restructuring of the
* electric power industry. It is designed to provide a platform for
* the intelligent examination of issues, a forum where industry
* professionals can share their pro, con and middle-of-the-road views
* on a variety of issues.
*
* SEE THE END OF THIS MESSAGE FOR SUBSCRIBE/UNSUBSCRIBE INFORMATION,
* SUBMITTING YOUR OPINION, AND ADDITIONAL DETAILS ON THIS SERVICE.
*
**********************************************************************
----------------------------------------------------------------------
SELECTED RESPONSES:
I have been following the California story for some time. I have
consulted with CA utilities over the past 9 years and have spent
considerable time examining the recent events and their history. I
believe each and every person that reviewed and approved
California's deregulation should be required to go back to school
and take Economics 101. I don't believe the AG in California will
find any manipulation unless the generators have figured a way to
control the weather - and raise temperatures 10-15 degrees above
normal. There is no significant baseline power in California. The
consumers, regulators and politicians in California that have been
pushing for deregulation are experiencing first hand the effects the
flawed legislation California enacted and the reality of economics.
The regulators in California, the NE part of the country, and
elsewhere created imbalanced markets in the 1980's and early 1990's.
We now are asking the same agencies, if not the same individuals,
that created the mess to fix it. Talk about the fox watching the hen
house, but its even better. The fox built a hen house and is being
asked to fix the problem now that we're noticing chickens are
missing.
Spot market prices for ANY commodity will skyrocket, when demand
increases dramatically and supply is limited. If you cap prices,
you'll almost certainly create shortages. I would have hoped we
would have learned something from the seventy years of Communist
rule in Russia. Can you say "RATIONING"? Almost everyone has been
misled to believe electric prices will decline under "competition"
without examining the underlying capital and operating realities of
the electric industry compared to other "deregulated industries."
If you want your power at prices below those a free market will
support, be prepared to go without your electricity at times.
After an accurate comparison of the electric industry to other
deregulated industries, you will discover that in a "fully"
deregulated electric industry, retail electric prices will average
from 10 to 20 percent higher than existing prices. And prices will
reach from five to ten times above current prices at times during
demand spikes.
David L. Robbins, N/A, N/A
[email protected]
----------------------------------------------------
The answer is Yes and No.
Tremendous price increases for the cost of energy over the last 6
months have an inevitable impact on the cost of generating electricity.
However, those price increases do not cover the full extent of the
increased cost for electricity for San Diego Gas and Electric. My
sources tell me that there has been some collusion among the major
IPPs servicing SDG&E which accounts for some of the other increases.
SDG&E's mismanagement accounts for the rest.
Carl R. Clark, President, Energetech Corp.
[email protected]
----------------------------------------------------
Was any assistance offered recently when the price of gas
increased? Would any assistance be offered in any substantive way if
the price of sugar or rice increased?
The increase in electricity prices is a function of a mismatch
between supply and demand.
The consumers' concerns about this issue should be heard by
suppliers in the form of new peaking power units, cogeneration,
combined-cycle technology or improvements to the efficiency of
existing generating plants.
If local suppliers are unwilling or unable to address the issue,
new suppliers will do so.
"Market forces" work well enough in other sectors; they will work in
CA given time.
David Whitehead, VP Sales - GENTRACK, Sanderson Computers
[email protected]
----------------------------------------------------
The generators are closely following the rules set by the
independent system operator. The solution would be to have the
consumers educated enough to demand, and pay for, a service that
provides them consistent pricing - this would be a niche for a
service provider to go to the generators and capture enough
generation capacity at a given rate to meet the customer demands.
One thing that is not discussed in any of these articles is the
average price of electricity over a longer period, say the entire
year. In addition, as I recall, during the transition period, the
ratepayers received quite a reduction in rates.
Gary Hilberg, Vice President - Business Development, The PIC
Energy Group
[email protected]
----------------------------------------------------
Competition is as competition does, usually with little thinking or
planning involved. Some of us in California tried to bring various
forms of planning and scenario forecasting to management and public
eyes on thoughts on the future. But scenarios of belief in the
grow-and-build era of the 60s-70s tended to over-forecast load
growth for nuclear power (7%a year), just as it was logical for
management to believe in low forecasts for the 90s (2% a year) in
the deregulation era.
The reality of growth cycles is a bit like saying "feet in ice and
hand in fire," i.e., the average temperature is pretty comfortable.
Was AB 1890 a good thing? No value judgement, it was a political
deal for $28 billion. Remember Diablo Canyon. Some CEOs and public
officials made their careers on this sort of thinking.
Best wishes California, hopefully there will be light in the night
skies. Place blame appropriately.
N/A, N/A, N/A
[email protected]
----------------------------------------------------
Is this question a joke? Of course they are. This behavior will
continue as long as the PR fog that has been created by the IOUs'
shameful campaigns while they have had their hands in our pockets.
These managements know they will not be fit to compete in a
competitive market and will do anything to keep the "fat, dumb, and
happy" mindset promoted they think that blaming their shortage
exploitation on deregulation.
Randy Castleberry, CEO, Tempulse Information Management
[email protected]
----------------------------------------------------
Whether or not individual generators are trying to manipulate is not
the question and price caps are certainly not the answer. The main
problem is that the press has been led to believe that the situation
is the result of 2 years of deregulation, not the 100 years of
regulation that led to shortages of both generation and
transmission. In addition, one must remember that the vast majority
of generation remains under regulatory and/or legislated prices --
only about 10% is actually "bid" and cleared; no wonder the market
thinness has lead to volatility. Second price auction certainly
doesn't help, since everybody gets paid whatever (the one
manipulating?) is the highest bidder's bid. Price caps will only
stifle the construction of new supply and new supply is half of the
answer to price volatility. The other half is meaningful demand
responsive behavior -- price caps will hide true costs from
consumers and stifle that too. A little more patience is what's
needed.
Tom Tanton, N/A, California Energy Commission
[email protected]
----------------------------------------------------
Oh sure, why not -- it worked for the phone companies, right,
well, didn't it?
Okay. Admittedly they're making over twenty-percent returns on
investments, but you've never heard about a phone brownout, have
you? ;)
David Draper, Regulatory Analyst, Florida Public Commission
[email protected]
----------------------------------------------------
Power marketers (and utilities with generating capacity to sell and
traders to sell it) are not manipulating the market, just taking
advantage of the opportunities it is offering. That's what a
market, unfettered by regulation, is about. The answer to your
second question, then, is that price caps are clearly re-regulation
and anti-free market. We either deregulate or re-regulate the
electric industry.
Reginald Ankrom, President, EnNova Energy Solutions
[email protected]
----------------------------------------------------
You reap what you sow. CA rushed into deregulation without a
complete review of the impact. Market value means profit and any
company, to remain in business, looks at the profit motive as the
primary driving force.
Putting a cap on prices is going back to the old system of
guaranteeing a profit without regard to efficiency and conservation.
The current system, like all systems in the past, will eventually
self correct. Users and suppliers will reach a common plateau. It
may take some time and may hurt financially but eventually we will
work it out.
The United States has historically swung in large amplitudes in
everything we have done. From complete isolationism prior to WWII
to complete globalization in the 1950s and 1960s; from no
environmental controls to (what some people may consider excessive)
tight controls.
I wish us a happy future.
Signed, Someone who has been in the power business longer than he
would like to.
N/A, N/A, N/A
N/A
----------------------------------------------------
If coal is the least expensive fuel, install two used coal-fired
steam generators (boilers), each capable of supplying turbo-
generators adequate for the entire San Diego County load.
As an alternative, install used boilers capable of burning waste
fuel to supply the turbo-generators; free fuel is a very good price.
San Diego can surely issue the various permits?
Sell any surplus power, so the residents of San Diego can enjoy
free electricity, i.e., generate for 3 cents/KWh and sell it for 6.
I understand a large quantity of used equipment is available?
Fifty years associated with power generation in USA and overseas.
N/A, N/A, N/A
[email protected]
----------------------------------------------------
Market manipulation, no. Taking advantage of a somewhat silly
demand/supply imbalance situation, yes. The analogy that comes to
mind is that of a farmer whose crops in the midst of a drought are
doing okay, so he can charge more for them. (We should remember that
this same farmer at other times will suffer through lean times where
supply exceeds demand.)
A few additional points:
1. The current focus in the press is on summer price spikes. What
about the generally lower energy commodity prices that SDG&E
ratepayers got in the winter and spring?
2. Until a bunch of merchant plant capacity comes online to serve
the California market, things may get uglier before they get better.
Then again, maybe Mr. Greenspan's interest rate hikes finally will
begin to take effect.
3. Summer price spikes in California seem to be lower than spot
market situations that occasionally occur in the Midwest and in the
New York area.
4. How about getting the CEC off its duff and getting some
additional generating and transmission capacity approved?
5. Don't count out DSM completely yet (at least for peak-shaving).
Phil Sisson, N/A, Sisson and Associates, Inc.
[email protected]
----------------------------------------------------
Price spikes in California, as in other parts of the country, are a
sign of electricity markets that are not entirely efficient or
competitive. In the specific case of California, the reasons for
this can be found in the way that the state has deregulated the
market and the subsequent actions they have taken in an attempt to
control it.
Cal-ISO's creation of the government-granted monopoly known as the
PX or power exchange helped to ensure that California's market could
never truly be efficient. Many of California's generators are
forced to buy and sell from this power pool which discourages the
development of a true, robust bilateral market for wholesale
electricity. The introduction of further price caps not only
discourages power marketers from short-term sales into the state in
times of need, but also creates an atmosphere that will discourage
long-term entry as well as the development of independent generation.
California needs real, robust competition -- not another step deeper
into the regulatory morass that they have created.
Kevin O'Donovan, Director, Government Affairs, Industry Networks
[email protected]
----------------------------------------------------
I live in the Pacific Northwest yet we are paying prices as high,
and at times higher, than southern California. Generators are
withholding power until pricing reaches acceptable levels in markets
where they can sell, not in local service areas. Why else would
generation be reduced "for economic reasons"? Once again
opportunists have twisted a good idea into a profitable venture for
a very small group. The concept of deregulation was to enhance
competition through freedom of choice of the end user, NOT THE
SUPPLIER. We are a captive audience. Try to get by for just one
day without use of electricity. When price controls were removed,
generators and marketers were allowed to set pricing at whatever
level they wanted. There is not one single fuel source used by
medium to large generators that costs an equivalent of $250 per MWh.
A solution would be to cap prices, not at a fixed level, but at a
cost of service (fuels, maintenance, labor, etc.) plus a maximum
allowable profit margin. Also, require generators to run regardless
of economics. Under the "must run" would be a requirement to
satisfy native loads and contract obligations before selling power
outside of local service territories. Let's get away from pricing
based on whatever the market will bear and get back to pricing based
on cost of service. Let the electric industry face the same
economic problems as the rest of industry.
David Michaelson, P.E., Electrical Engineer & Industrial Energy
Manager, N/A
N/A
----------------------------------------------------
I believe that the current, deregulated, marketing infrastructure
invites manipulation and artificially inflated rates simply because
the new laissez-faire market has no real constraints. The new
arbitrage trading has created multiple layers of parasites who are
living well by adding no value to the commodity...only extra cost to
the end user. The trend of abuse is clear and I think price
ceilings are inevitable.
Roy (Chip) Burton, Project Engineer, Multi-Level Technologies, Inc.
[email protected]
----------------------------------------------------
As a market moves up the supply curve on peak, there is no doubt that there
is more supplier concentration, and the potential for market manipulation.
However, price caps are not a satisfactory long-term solution to high
prices. They will inevitably lead to blackouts. A better long-term solution
will be encourage more competition by identifying and removing barriers to
new peaking and base load generation, particularly distributed generation,
that can be located in load centers to serve peak loads.
Peter Evans, Senior Vice President, Catalytica Combustion Systems
[email protected]
----------------------------------------------------
The two-part question goes first to motive, then to solution.
No one can prove THAT the generators are gaming the system, versus
the system is working as it should. The fact is that the result of
operating the open market system as presently designed is
unacceptable. It is totally unacceptable that the competitive market
in California is supposed to, and attempting to, operate in a
condition of supply-demand-price equilibrium that does not exist.
That Californians should pay many billions of extra dollars to
support an ineffective market system imposed upon them by regulators
and legislators in the name of lower costs is sane only to those
currently lining their pockets. That price caps are needed in this
ineffective or, as some people laughingly call it, imperfect market
goes without question. That generators or marketers cannot make a
buck at a $250 per MWh cap is laughable. This is five times more
than consumers ever paid for energy.
The only issue that needs resolving is how long the price caps
should remain in effect. That answer should depend on when the
promised market-in-equilibrium can be brought to bear, and when a
workable western RTO can guarantee economic transmission rates for
California consumers.
Otherwise, re-regulate. At any cost, it will be cheaper than where
we're heading.
Joe Bongiovanni, General Manager, Hardwick Electric Department
[email protected]
----------------------------------------------------
I believe that the people in San Diego are not able to see the full
picture regarding deregulation of electric rates. They were
proposed as a means of overall rate reduction because of
competition, and on a yearly basis this is still possible.
(1) Electricity was already high in California because of the
environmental controls and difficulty of building new plants.
(2) Very few new plants are being built, and a perfectly good
plant at San Onofre (Unit 1) was shut down reducing our resource margins.
(3) Californians were not told that price volatility will be high in
a free market as the price charged will be the price of the most
expensive unit on line.
(4) Today, no one is talking about what happens during the low
demand periods when the competition for selling power will be very
high driving the price down to the point that some plants will
probably want to pay you to use power so that they can stay on line.
Thus, the situation of a free market system for electricity is not
good for either a public that wants consistent bills or the power
producers that can make money only when demand is very high. It will
take several years of bumpy conditions to iron out the competitive
market for electricity.
Bill Hannaman, P.E., Senior Staff Engineer, DS&S
[email protected]
----------------------------------------------------
Don't blame this situation on the market players - a utility
without generation is like a race car without tires. Until
investors, customers, and employees stand as one against utilities
selling off all their generation, this situation will continue to be
one of simple market economics (supply vs. demand). The only winners
are the executives of these utilities as they get rewarded for the
high sale prices of the plants, while customers are exposed to
higher prices and lower reliability and, sadly, employees lose jobs,
pay level, and seniority that are hard, if not impossible, to replace.
Frank Richards, Technical Sales Rep., Austin Energy
[email protected]
----------------------------------------------------
IF there is manipulation of prices, price caps are not the way to
penalize the criminals because price caps affect every single
seller, not the individual or handful of individuals who are
restraining the market and acting against the public interest. I do
tend to believe that price runups in California today aren't due to
market manipulators so much as they are due to the regulatory
neglect (and complacency bordering on hubris) CA has labored under
for the past 15 years (with no new plants being built while domestic
demand grew and regional available importable supply shrank).
Returning to price caps, isn't it fairly simple to illustrate that
the California caps have served to do the following: normal sellers
of power sell at x. Let's say there are nefarious actors who
withhold power to later sell it at artificially inflated prices, of
x + 10, rather than the market rate of x + 1 that would have arisen
as demand increased and supply tightened. This is crude but bear
with me. In high dudgeon the politicians intervene and impose a cap
of x - 10, which captures the bad actors but also unfortunately
penalizes all of the other actors in the market, slam dunking them
in order to stop the few bad actors. Results:
All the investors who put money into the market in good faith that
the rules would allow them to make an adequate return on their
investment, are now penalized by caps that shave off money from
their profit-making times in the market, for what is so far an
unproven allegation against other unspecified bad actors. So how
many will want to build in this "market," with this new and highly
volatile form of risk?
And, what California accomplished for fifteen years through
regulatory neglect, it will now persist to accomplish through
political intemperance. Putting caps onto the market will not solve
shortages, it will not solve price problems, more plants will not be
built, transmission won't be built, reliability will get worse.
California is in for many more years of problems if they don't put
their energy problems in order.
What is with California and price controls? First President Richard
Nixon, who imposed national wage and price controls which failed
miserably, had to be pulled off because they only hid, not solved,
problems that continued to fester, and contributed greatly to the
inflation of the later 1970s. Now price caps, which will do about
the same.
William Jordahl, Manager Federal/State Relations, Alliant Energy
[email protected]
----------------------------------------------------
The "Electric Wholesale Market" and "Deregulation" in general is
primarily in name only. One of the regional issues is the allowance
of existing monopolistic participants to divest wholesale production
in their own service territory and to ultimately repurchase
wholesale production under non-regulated entities in the same
electrical region. Allowing the same entities to have monopolistic
ownership of the transportation and distribution of the product,
while also owning non-regulated regional wholesale production of the
product, begs for market problems. Placing caps on the wholesale
price of the product not only masks the real issues, but also could
prevent the entrance of new participants.
Anonymous, Senior Domestic Marketing Manager, N/A
N/A
----------------------------------------------------
Are power generators deliberately manipulating the market to obtain
higher profits in San Diego? Of course they are -- the bidding
rules for selling power into the PX require that all producers
receive the price asked for by the most expensive producer selected.
Thus, there is a tremendous profit-making incentive to withhold
power until the price goes up.
But the bidding rules are only a part of the problem. The whole
premise that electric power can be delivered competitively is a big
lie. Why? As economist Eugene Coyle explains in "Price
Discrimination, Electronic Redlining, And Price Fixing in
Deregulated Electric Power" (Washington, DC: American Public Power
Association), a commodity product with high fixed costs will force
producers to discriminate between customers, to collude with each
other to maintain profits, and to merge to eliminate competitors.
The best examples are the airlines, which charge different prices
between leisure and business customers, who collude through their
ticketing computers, and who have merged into four or so major
carriers (and they are exploring joint ventures to reduce it to
about two or three). The same is now happening in deregulated
electricity.
Many will argue that electricity competition hasn't been given a
fair chance. However, even if you believe that competition can
somehow develop in a commodity market with high fixed costs, who
will have the political muscle to create more competitive wholesale
markets, which will require true open access to the transmission
system? Enron, the loudest promoter of open access, just got its
butt kicked by the big investor-owned utilities, which have proved
their strength on Capitol Hill by killing open access legislation.
And the big for-profit holding companies are very strong at the
state level as well.
So, just as we have been saying for more than four years,
deregulation will only lead to unregulated monopolies, because of
the physical and economic nature of the electric power itself, and
because no one has the political power to enact the structural
reforms needed to overcome the power of the for-profit holding
companies that still completely dominate this industry.
Charlie Higley, Energy Research Director, Public Citizen
[email protected]
----------------------------------------------------
I believe the answer to the question is NO! The problem is lack
of supply during peak demand periods. The cry for re-regulation is
ludicrous. Part of what FERC intended with the implementation of
wholesale deregulation was for the market to send accurate price
signals to the supply side so they would be motivated to develop and
innovate new forms of supply and demand side management. And this
is precisely what is occurring.
Politicians are ignoring the fact that the price of natural gas
has at least doubled in the last several months, the electric supply
from the Pacific Northwest is reduced because of reduced summer
run-offs that supply the extensive hydro system, an unplanned
nuclear plant outage, as well as very hot weather covering the
entire West Coast. All of the combined events have contributed to
the current problems faced in the West and, more specifically,
southern California. Is anyone complaining, when during light load
periods, the price of power is low and at times almost zero? Would
"regulation" have changed any of this? I fail to see how. As long
as consumption goes unchecked and the "not in my backyard" (NIMBY)
prevails when companies propose additional new generation and
transmission facilities, we will continue to have high prices during
peak demand. While the above is a simplification of the problems
being faced in the West, these are some of the basic issues that
need to be addressed whether wholesale deregulation had been
implemented or not.
(The opinions expressed above are my own and do not represent any
official position of my company)
David F. Perrino, Director Market Development - West, Automated
Power Exchange, Grid Management Services
[email protected]
----------------------------------------------------
Hot weather and lack of surplus capacity caused the price spikes
and price caps now just prolong the pain. The state of California's
actions in imposing wholesale price caps is a simple issue of
politically motivated interference in the free market that will
ultimately harm consumers. The price caps tarnish the allure of
investing in new generating capacity and the incentive for
electricity buyers to plan ahead more effectively. How many lotto
tickets would a state sell if the politicos decided that a $3
million prize is too extravagant? Would reducing lotto winnings to
$1,000 make it a better producer of state revenue?
There are market-based forwards, derivatives and other mechanisms
for buyers and retailers to protect themselves from price spikes
caused by summer supply shortages.
The long-term answer is to let the market provide financial rewards
To those who take risk to build generating capacity. When enough new
generators join in, the market will reach equilibrium.
Eric C. Williams, Market Solutions Analyst, EPRI Market Solutions
[email protected]
----------------------------------------------------
Assuming that the excess demand in the wholesale market is based
on capacity limits, then capping market rates confuses the situation
by encouraging consumption and discouraging conservation and the
availability of alternative supply sources.
The de facto vertically integrated electric utility system with its
comprehensive regulatory oversight has been in place since circa
1935. Transition to a restructured system is going to take more than
a few years. In the meantime, dealing with system peak loads is
where attention should be focused. Reregulation and wholesale
market caps on prices harken back to the old system. It's time to
begin figuring out how to deal with these system peaks more creatively.
Ken Saulter, Principal, ICF Consulting
[email protected]
----------------------------------------------------
**********************************************************************
+
+ ENERGY CENTRAL DEREGULATION INFORMATION SERVICES
+ http://www.energycentral.com
+
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+ Access to the most comprehensive database of all state and federal
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|
||
hayslett-r/deleted_items/78.
|
29465071.1075862268450.JavaMail.evans@thyme
|
Mon, 19 Nov 2001 08:26:00 -0800 (PST)
|
RE: credit updates i will handle. good luck today and tomorrow - bring home some cash.
-----Original Message-----
From: "Hayslett, Rod" <[email protected]>@ENRON COMMUNICATIONS
Sent: Monday, November 19, 2001 10:24 AM
To: [email protected]
Cc: DeSpain, Tim
Subject: FW: credit updates
Can you please review and get back to Tim?
--------------------------
Sent from my BlackBerry Wireless Handheld (www.BlackBerry.net)
-----Original Message-----
From: DeSpain, Tim <[email protected]>
To: Hayslett, Rod <[email protected]>
Sent: Mon Nov 19 10:08:16 2001
Subject: FW: credit updates
Please review the one page updates for Transwestern and Northern and let
me know if you have any comments.
Thanks,
Tim
-----Original Message-----
From: [email protected]
[mailto:[email protected]]
Sent: Friday, November 16, 2001 8:13 AM
To: [email protected]
Subject: credit updates
Tim: Attached are updates I mentioned yesterday.
(See attached file: enronrpt.doc)(See attached file:
northernnatural.doc)
(See attached file: transwestern.doc)
- enronrpt.doc << File: enronrpt.doc >>
- northernnatural.doc << File: northernnatural.doc >>
- transwestern.doc << File: transwestern.doc >>
|
||
causholli-m/deleted_items/113.
|
25798853.1075853155110.JavaMail.evans@thyme
|
Thu, 18 Oct 2001 00:17:04 -0700 (PDT)
|
monthly stats Dear Monika,
We usually send every month Utipulp statistics figures by email, but our
association decided during the last meeting not to diffused them by email in
the future, only to put on our website : www.utipulp.org. That 's mean that
you will not receive email anymore but you can download directly the current
statistics on the website near the 15th of each month.
Best regards,
Mrs BAERTSOEN
----- Original Message -----
From: Causholli, Monika <[email protected]>
To: <[email protected]>
Sent: Wednesday, October 17, 2001 9:44 PM
Subject: monthly stats
I used to be on the subscription list but I do not receive the data by
email anymore. Can you please re-subscribe me?
My email is [email protected]
thanks,
Monika Causholli
Enron Industrial Markets
(713) 345 1039
**********************************************************************
This e-mail is the property of Enron Corp. and/or its relevant affiliate and
may contain confidential and privileged material for the sole use of the
intended recipient (s). Any review, use, distribution or disclosure by
others is strictly prohibited. If you are not the intended recipient (or
authorized to receive for the recipient), please contact the sender or reply
to Enron Corp. at [email protected] and delete all
copies of the message. This e-mail (and any attachments hereto) are not
intended to be an offer (or an acceptance) and do not create or evidence a
binding and enforceable contract between Enron Corp. (or any of its
affiliates) and the intended recipient or any other party, and may not be
relied on by anyone as the basis of a contract by estoppel or otherwise.
Thank you.
**********************************************************************
|
||
kean-s/discussion_threads/2996.
|
3625081.1075848168368.JavaMail.evans@thyme
|
Wed, 11 Apr 2001 00:21:00 -0700 (PDT)
|
Composition of unsecured creditors committee ---------------------- Forwarded by Steven J Kean/NA/Enron on 04/11/2001
07:21 AM ---------------------------
From: Michael Tribolet/ENRON@enronXgate on 04/11/2001 07:11 AM
To: Steven J Kean/NA/Enron@Enron, Richard Shapiro/NA/Enron@Enron, Rick
Buy/ENRON@enronXgate, William S Bradford/ENRON@enronXgate, Richard
Shapiro/NA/Enron@Enron, James D Steffes/NA/Enron@Enron, Karen
Denne/Corp/Enron@ENRON, Lisa Mellencamp/HOU/ECT@ECT, Vicki Sharp/HOU/EES@EES,
Travis McCullough/HOU/ECT@ECT
cc: [email protected]@SMTP@enronXgate, [email protected]@SMTP@enronXgate,
[email protected]@SMTP@enronXgate, [email protected]@SMTP@enronXgate
Subject: Composition of unsecured creditors committee
Please see appointment list attached below:
KES Kingsburg L.P. (QF?)
City of Palo Alto (pension holdings?)
Enron Corp & Affiliates
State of Tennessee (pension holdings?)
Dynegy Power Marketing, Inc.
The Davey Tree Co. (vendor)
GWF Power Systems (QF)
U.S. Bank (Trustee on PCB's)
Merrill Lynch (CP holder?)
The Bank of New York (Bond Trustee)
Bank of America (Agent on revolver)
-----Original Message-----
From: "Johnson, Stephen" <[email protected]>@ENRON
[mailto:IMCEANOTES-+22Johnson+2C+20Stephen+22+20+3CStephen+2EJohnson2+40usdoj+
[email protected]]
Sent: Tuesday, April 10, 2001 7:52 PM
To: Johnson, Stephen; '[email protected]';
'[email protected]'; Tribolet, Michael;
'[email protected]'; '[email protected]';
'[email protected]'; '[email protected]'; '[email protected]';
'[email protected]'; '[email protected]';
'[email protected]'
Subject: RE:
I'm pretty sure the form was left off....
-----Original Message-----
From: Johnson, Stephen
Sent: Tuesday, April 10, 2001 5:49 PM
To: '[email protected]'; '[email protected]';
'[email protected]'; '[email protected]';
'[email protected]'; '[email protected]'; '[email protected]';
'[email protected]'; '[email protected]'; '[email protected]';
'[email protected]'
Subject:
Stephen L. Johnson
Attorney
United States Department of Justice
Office of the U.S. Trustee
250 Montgomery Street, Suite 1000
San Francisco, CA 94104
415-705-3333 tel.
415-705-3379 fax
[email protected]
- Appointment of Committee.pdf
|
||
brawner-s/sent/60.
|
28831339.1075856128423.JavaMail.evans@thyme
|
Wed, 25 Apr 2001 02:23:00 -0700 (PDT)
|
Re: And --FYI I Dont do pictures!!!! ever -
|
||
dasovich-j/inbox/1073.
|
17061905.1075859213840.JavaMail.evans@thyme
|
Wed, 19 Dec 2001 13:20:11 -0800 (PST)
|
Re: FERC Orders Deadline is 10 am on this Friday.
gba
|
||
dasovich-j/all_documents/8757.
|
22487950.1075843343643.JavaMail.evans@thyme
|
Wed, 31 Jan 2001 09:50:00 -0800 (PST)
|
Thanks to everyone for their work on the Senate hearing. There are a couple
of follow-up items:
Thanks to the Portland and Washington teams, Sen Wyden is very interested in
identifying the kind of information we need from the ISO (and PX to the
extent it's still relevant) to make the market work better. We have written
this up before, I think we just need to put it in letter form. Alan --
please take the lead on this and get a draft to Linda. I think we should
identify the information and also prepare a letter for the Chairman (?) that
could be sent to the FERC.
Murkowski (the Committee Chairman) asked for an itemized list of things the
fed should do to expedite siting as well as anything else we feel is
necessary to address the California crisis. We have identified the need for
open access across the nation, but he is looking for what can be done in the
2-4 month time frame. Dave, I think your memo to me is a good start. Sue --
could you please put those and any other suggestions in letter form and get
them to Linda?
Finally, Sen Feinstein asked all of the witnesses to ask their CEOs not to
"price gouge" -- yes, that's what she said. She appealed to everyone's
community spirit and asked suppliers to forbear charging high prices while
California struggles to fix its problems. I think we should send a response
from Ken. Jeff -- please take a cut and get to Linda. I think the basic
messages should be: we are actively working on solutions with California
policymakers (forward contracting was our idea after all); we are actively
pursuing demand reduction in the state, etc. We should also explain the
nature of our business and pick up on some of the other solutions we
identified in the written testimony, offer to meet to discuss further, etc.
|
||
benson-r/deleted_items/146.
|
24086178.1075863382192.JavaMail.evans@thyme
|
Wed, 24 Oct 2001 12:46:45 -0700 (PDT)
|
/o=ENRON/ou=NA/cn=Recipients/cn=notesaddr/cn=a478079f-55e1f3b0-862566fa-612229 </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Notesaddr/cn=a478079f-55e1f3b0-862566fa-612229>, Abler, William </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Wabler>, Aggarwal, Anubhav </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Aaggarwa>, Allen, Diana </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Dallen3>, Arora, Harry </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Harora>, Bailey, Debra </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Dbailey2>, Ballato, Russell </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Rballato>, Ballinger, Ted </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Tballing>, Baughman Jr., Don </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Dbaughm>, Benchluch, Moises </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Sbenchlu>, Benjelloun, Hicham </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Hbenjell>, Benson, Robert </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Rbenson>, Bentley, Corry </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Cbentle>, Black, Tamara Jae </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Tblack>, Blaine, Jay </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Jblaine>, Bolt, Laurel </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Lbolt>, Broderick, Paul J. </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Pbroder>, Broussard, Richard </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Rbroussa>, Burnett, Lisa </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Lburnett>, Campbell, Larry F. </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Lcampbel>, Capasso, Joe </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Jcapasso>, Carson, Mike </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Mcarson2>, Chen, Alan </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Achen2>, Choate, Jason </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Jchoate>, Cline, Kevin </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Kcline>, Collins, Dustin </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Dcollin>, Comeaux, Keith </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Kcomeaux>, Coulter, Kayne </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Kcoulte>, Davis, Mark Dana </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Mdavis>, Day, Smith L. </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Sday>, Dean, Clint </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Cdean>, Decook, Todd </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Tdecook>, Emesih, Gerald </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Gemesih>, Errigo, Joe </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Jerrigo>, Forney, John M. </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Jforney>, Freije, William </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Wfreije>, Garcia, Miguel L. </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Mgarcia6>, Gilbert, Gerald </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Ggilbe1>, Gilbert-smith, Doug </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Dsmith3>, Giron, Gustavo </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Ggiron>, Greer, Andrew </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Agreer>, Gualy, Jaime </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Jgualy>, Guerra, Claudia </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Cguerra2>, Gulmeden, Utku </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Ugulmede>, Gupta, Gautam </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Ggupta>, Ha, Amie </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Aha>, Hanse, Patrick </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Phanse>, Hernandez, Juan </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Jhernan3>, Imai, Rika </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Rimai>, Ingram, David </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Dingram>, Jenkins IV, Daniel </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Djenkin2>, Kaniss, Jason </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Jkaniss>, King, Jeff </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Jking6>, Kinser, John </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Jkinser>, Larkworthy, Carrie </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Clarkwor>, Laurent, Dean </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Mlauren>, Laverell, Justin </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Jlavere>, Lenartowicz, Chris </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Clenart>, Lorenz, Matt </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Mlorenz>, Lotz, Gretchen </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Glotz>, Lowell, Thomas </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Tlowell>, Mack, Iris </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Imack>, Mahajan, Ashish </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Amahajan>, Makkai, Peter </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Pmakkai>, Marquez, Mauricio </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Mmarque2>, Maskell, David </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Dmaskell>, May, Tom </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Tmay>, McElreath, Alexander </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Amcelrea>, Miller, Jeffrey </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Jmiller>, Oh, Seung-Taek </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Soh2>, Olinde Jr., Steve </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Solinde>, Pace, Andy </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Apace>, Padron, Juan </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Jpadron>, Pan, Steve </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Span2>, Philip, Willis </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Wphilip>, Podurgiel, Laura </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Lpodurg2>, Poppa, John D. </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Jpoppa>, Presto, Kevin M. </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Kpresto>, Quenet, Joe </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Jquenet>, Rawal, Punit </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Prawal>, Rodriquez, Andy </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Arodriqu>, Rogers, Benjamin </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Brogers>, Rust, Bill </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Brust>, Ryan, David </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Dryan>, Saibi, Eric </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Esaibi>, Schiavone, Paul </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Pschiavo>, Schneider, Bryce </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Bschneid>, Seely, Michael </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Charles_Seely>, Serio, Erik </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Eserio>, Shoemake, Lisa </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Lshoema>, Stalford, Robert </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Rstalfor>, Stepenovitch, Joe </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Jstepeno>, Sturm, Fletcher J. </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Fsturm>, Symms, Mark </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Msymms>, Tamma, Ramanarao </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Rtamma>, Thomas, Paul D. </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Pthomas2>, Trejo, Reese </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Mtrejo>, Valdes, Maria </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Mvaldes>, Vernon, Clayton </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Cvernon>, Wang, Steve </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Swang3>, Williams, Ryan </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Rwillia8>, Willis, Cory </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Cwillis>, Zipperer, Mike </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Mzippere>, Baughman, Edward D. </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Ebaughm>, Carroll, Lex </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Lcarroll>, Clynes, Terri </O=ENRON/OU=NA/CN=RECIPIENTS/CN=TCLYNES>, Dalton III, Oscar </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Odalton>, Forster, David </O=ENRON/OU=NA/CN=RECIPIENTS/CN=DFORSTER>, Kelly, Mike E. </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Mkelly3>, Ratliff, Beau </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Bratliff>, Sewell, Doug </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Dsewell>, Valderrama, Larry </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Lvalder>
|
Staff Meeting THE STAFF MEETING HAS BEEN CANCELED FOR TODAY...
T.Jae Black
East Power Trading
Assistant to Kevin Presto
off. 713-853-5800
fax 713-646-8272
cell 713-539-4760
|
|
kaminski-v/credit/14.
|
2935352.1075840780863.JavaMail.evans@thyme
|
Tue, 17 Apr 2001 22:37:00 -0700 (PDT)
|
RE: FW: Parent - Subsidary Model Hi again,
Thanks for the financial data on Enron's European counterparties.
It is my understanding that you started out with a list of 500 such counterparties. However, your spreadsheet only contains information for 72 of these European counterparties.
Will you please tell me the logic behind the elimination of the 400+ other counterparties?
Thanks so much,
Iris
-----Original Message-----
From: Parsons, Ben
Sent: Tuesday, April 17, 2001 2:56 AM
To: Mack, Iris
Cc: Valnek, Tomas; Dhar, Amitava; Mumford, Mike
Subject: Re: FW: Parent - Subsidary Model
Hi Iris
The inputs and outputs generated by RiskCalc can be seen in the attached file:
<< File: Data for RiskCalc - 20010323_PD.csv >>
We only looked at the 5-yr PD.
Inputs are in columns A-U. These are the inputs generated by Amadeus. You can run these inputs through the RiskCalc model over the web (http://www.moodysqra.com/privfirm) using the login: dupred, password: detective. This is our trial licence which lasts for about 2 more weeks (Mike Mumford will have more details about the current licence)
Tomas Valnek was getting the data from the Amadeus database, so I'll leave it to him to determine if Houston access is possible. In the meantime you can use the dataset attached for testing purposes.
Ben
From: Iris Mack/ENRON@enronXgate on 12/04/2001 17:58 CDT
To: Ben Parsons/LON/ECT@ECT
cc: Amitava Dhar/Corp/Enron@ENRON
Subject: FW: Parent - Subsidary Model
Hi Ben,
How are you? Today we had a meeting with Craig Chaney and Jeff Kinneman to discuss the private firm model.
They requested that I spend some time carefully analyzing the Moody's Riskcalc model. I noticed that you also have been looking at RiskCalc - as indicated in your paper entitled "Pricing Parent Companies and their Subsidiaries: Model Description and Data Requirements"
Other than the example discussed in your paper, did generate any other test statistics, scores, etc.
Also, you stated that you used Amadeus database. We are in the process of trying to obtain data from various data vendors - but that may take a while. In the mean time, may we have access to the Amadeus database or some sample dataset?
Thanks so much,
Iris
-----Original Message-----
From: Valnek, Tomas
Sent: Tuesday, April 10, 2001 9:10 AM
To: Fiala, Markus; Seyfried, Bryan; Salmon, Scott; Kirkpatrick, Eric; Mumford, Mike; Fontaine, Jean-Sebastien; Brooks, Simon; Price, Nigel; Diprose, Robert; Rezaeian, Reza; Gordon, Mike; Lee, Derek; Hershkovitz, Ilan; Golden, Sally; Stephan, Nicholas; Albanis, George; Shanbhogue, Vasant; Mack, Iris
Cc: Parsons, Ben
Subject: Parent - Subsidary Model
Attached is a description of the parent-subsidiary model that Ben and I have been working on over the last few weeks.
Comments welcome!
TV
<< File: Pricing Parent Companies and their Subsidiaries Model Description and Data Requirements - 20010410.doc >>
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arnold-j/sent_items/603.
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5234815.1075855216251.JavaMail.evans@thyme
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Thu, 29 Nov 2001 09:04:04 -0800 (PST)
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RE: Bo Collins The main number at the exchange is
212-299-2000
-----Original Message-----
From: Burns, Jennifer
Sent: Thursday, November 29, 2001 10:28 AM
To: Arnold, John
Subject: Bo Collins
John-
Jeff needs Bo Collins' contact info. at the NYMEX.
Thanks,
jennifer
Jennifer Burns
Executive Assistant to Jeff Shankman
Enron Global Markets, LLC
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25674229.1075854645304.JavaMail.evans@thyme
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Fri, 17 Nov 2000 06:59:00 -0800 (PST)
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More Plays basic reference....
Goal Line Isolation
DESCRIPTION
Line up in a Trips Right formation. Have inside receiver run a five
yardpost, drawing coverage from the middle zone defender. The middle
receiver will run an eight yard curl. The outside receiver will run a
delayed slant. Most of the coverage should be moving left. The running back
will delay, then run up the middle to the back of the end zone, then dart to
the right, the QB will delay and sprint right also. The defense will be
moving left and should be a step behind. If the QB can sprint to the end
zone, a lane may be open, or else the RB should be open.
QB : The quarterback should initally delay for a split second before
sprinting to his right. quarterback can make a good head fake to the left or
look at his receivers on the left before . He should run the ball into the
end zone if it is open or throw the ball to his running . The quarterback
should run the ball if the defense is out of , even if the running back is
open. This will eliminate the chance of a incomplete pass or .
RB : The running back should initially delay for a split second to give a
block for the quarterback. This will allow the play to develop and keep the
defense from worrying about the RB. The RB then runs forward to the back of
the end zone and makes a sharp cut to the right before going out of bounds.
Make sure the running back stays around the back of the end zone so the
quarterback can throw the ball over the defenders head if need be.
Other Players : The other players should do their best to draw the defense
towards the left side of the field.
==================================
Center Hook and Ladder
DESCRIPTION
Line up with twins to the left; one blocker on the left of center; one WR on
the right and a RB to the left of QB
RB: go in short motion to the left; make a loop patern on outside of the
"twins" who should block for him. The RB is secondary receiver.
Right WR: Do a 5-yard button hook to inside.
QB: Throw to right WR.
Right WR: Lateral ball to the center who after the snap should be moving
parallel to line of scrimmage, about 2-3 yards down field.
Center: Receive lateral and run option with QB who should stay in
pitch-relationship after he throws the ball.
QB: If the hook isn't open, hit the RB or run for it.
Left Guard: Block
QB : The quarterback needs to first read the defense. If the right receiver
can beat the coverage then look the defenders off and deliver a good quick
pass to the receiver. The receiver should be able to use his body to shield
the defender. If the defense is in good position to stop the pass call an
audible or be prepared to throw the ball to your secondary receiver (RB). As
soon as the quarterback throws the ball he needs to immediately get into
position to receive the pitch from his center. The quarterback will most
likely have to be running full speed right after he throws the ball so he can
be in a good pitch relation with his center. Make sure the quarterback never
stops running with the center.
Right WR: The right receiver needs to run full speed off the line of
scrimmage to push his defender back. As soon as he gets about 5-yards down
the field he should curl in towards the quarterback and use his body to
shield the defender. Make sure the receiver knows to knock the ball down if
the quarterback makes a bad pass. As soon as the receiver catches the ball he
should immediately pitch the ball to his center. Don't be in too big of a
hurry. If the pitch isn't there the receiver should turn the ball up field
for as many yards as possible or try to get the pitch to his quarterback.
Don't pitch the ball to the other team.
Center: The center will run 2-3 yards forward then drag the line of scrimmage
left to right. The center should be running at a medium speed until the
receiver catches the ball. This will allow the receiver to get a good handle
on the ball before pitching it. The center should be on the inside of the
receiver and must be prepared to give a quick pitch to the quarterback. If
there is a defender between the center and the quarterback, the center should
fake the pitch and continue up field.
Other Players : The other players need to follow the routes on the play
diagram so they force the defenders to the opposite side of the field. The RB
should always be ready for the pass. He is the secondary receiver and needs
to be able to bail the quarterback out of trouble.
Caution : This play requires practice and flawless execution. Timing is
Crucial.
=====================
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Mon, 4 Jun 2001 01:27:00 -0700 (PDT)
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Enron Mentions - 06/04/01 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.
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kaminski-v/sent/409.
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3929692.1075856445511.JavaMail.evans@thyme
|
Fri, 30 Mar 2001 03:18:00 -0800 (PST)
|
Re: Enron default swaps Darrell,
I am sending you 2 technical notes on Enron default swaps: I hope that they
will
be useful. I shall read the articles on weekend. I am curious if you
find these explanations satisfactory.
We are very slow in preparing a number of technical documents
for you for model reviews. We still hope you will be able
to find some time to review our credit models (for our London
credit trading) and VaR and option pricing related models.
Also, please check your invoices. I still think we owe you money.
Vince
Darrell Duffie <[email protected]> on 03/28/2001 08:07:38 AM
To: Vince J Kaminski <[email protected]>
cc:
Subject: Re: Enron default swaps
Vince: According to a Bank of America
publication, your (Enron) default swap spreads
are consistently trading about 80
basis points wider than your asset swaps.
Any idea of what is going on here?
Thanks for any guidance, Darrell
_____________________________________________
Darrell Duffie
mail GSB Stanford CA 94305-5015 USA
phone 650 723 1976
fax 650 725 7979
email [email protected]
web http://www.stanford.edu/~duffie/
_____________________________________________
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cash-m/sent/663.
|
13476601.1075863724670.JavaMail.evans@thyme
|
Mon, 16 Oct 2000 05:14:00 -0700 (PDT)
|
Re: RW separations What about Paskoff? His lawyer is calling me. Michelle
Enron North America Corp.
From: Catherine Huynh @ ENRON 10/16/2000 08:52 AM
To: Michelle Cash/HOU/ECT@ECT
cc:
Subject: Re: RW separations
Michelle,
Regarding the items below, here is the current status:
COBRA, we agreed to address it on an individual basis.
Gilardi - Once I get the new agreements from you he is ready to sign. Do
you know if these have been sent?
Insigna - We stood fast ont he 6 month non-solicitation and he is coming in
today sign the agreements.
Thanks
Cathy
Michelle Cash@ECT
10/15/2000 07:57 PM
To: Catherine Huynh/NA/Enron@ENRON
cc:
Subject: Re: RW separations
Cathy, let's talk about the outstanding issues on Monday so that we can wrap
these up. Thanks. Michelle
Enron North America Corp.
From: Catherine Huynh @ ENRON 09/26/2000 03:13 PM
To: Michelle Cash/HOU/ECT@ECT
cc: Melissa Laing/LON/ECT@ECT
Subject: RW separations
Michelle,
Please let know what you thing regarding the following:
1) Two of the RW employees have called asking about their Cobra coverage and
whether or not they are due money for the coverage. One could argue ( and
they obviously are ) that health and welfare coverage constitutes part of
their employment and should be paid to them as part of their separation.
If we provide it to one then we really need to be consistent and apply it to
everyone. I'm sure they are speaking to each other on a daily basis.
2) Russell Gilardi's attorney has made comment that one could interpret his
contract to mean that he has a fixed term contract through the end of the
year. Here is the wording verbatim:
'Commencing on your agreement to the terms of this letter, both you and the
Company will be required to give not less than 3 months notice in writing to
terminate your employment, such notice to expire at any time on or after 1st
January 2001.'
I think Hoyt missed this last part when he sent you the info for the
separation agreements. For your info, other RW employees with this
particular type of wording had their contracts fully paid out.
3) Joel Insinga is requesting that his non-compete be reduced from 6 months
to 3 months. He was with MG for a little over a month. I've asked the SVP
of the division for his thoughts and should hear something tomorrow.
Thanks and hopefully we are nearing the end.!
Cathy
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kaminski-v/all_documents/5609.
|
18768113.1075856321664.JavaMail.evans@thyme
|
Mon, 19 Jun 2000 01:22:00 -0700 (PDT)
|
Get 3D Audio from RealPlayer and RealJukebox! ---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 06/19/2000
08:25 AM ---------------------------
RealPlayer News <[email protected]> on 06/18/2000 08:55:49 PM
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: Get 3D Audio from RealPlayer and RealJukebox!
- mailtest.html
|
||
crandell-s/deleted_items/43.
|
1989872.1075840050587.JavaMail.evans@thyme
|
Tue, 29 Jan 2002 17:17:09 -0800 (PST)
|
Global Energy 1/29/02 Hello Sean Crandall,
RWR would like to welcome you again to our second edition of Global Energy. You will receive this publication on a free trial basis for 45 days.
Global Energy is a biweekly publication designed to offer investment recommendations, market updates, and sector outlooks on global energy companies. The sectors covered in this report include: Utility Service Providers (USPs), U.S. Utilities, Natural Gas, Japanese, Asian, European, and Latin American Utilities
As always, we welcome any feedback on our research including questions and opinions.
Thank you,
The Global Energy Team
Every two weeks, we look at energy companies and sectors that strive to make energy more efficient or the environment cleaner. These
sectors include renewable energy (including wind and solar power),
distributed generation (fuel cells and microturbines), and power
semiconductors.
This edition includes:
RWR would like to welcome you again to our second edition of Global Energy. You will receive this publication on a free trial basis for 45 days.
Global Energy is a biweekly publication designed to offer investment recommendations, market updates, and sector outlooks on global energy companies. The sectors covered in this report include: Utility Service Providers (USPs), U.S. Utilities, Natural Gas, Japanese, Asian, European, and Latin American Utilities
As always, we welcome any feedback
Download this report from the <a href='http://www.reedwasden.com/members/download.asp?ID=111&[email protected]'>Reed Wasden website</a>. If a link does not appear above please goto http://www.reedwasden.com/members/download.asp?ID=111&[email protected] to download the report.
Thank you,
The Sector Reports Team
As always, we welcome any feedback on our research including questions and opinions. To be removed from this mailing, reply to this email with 'UNSUBSCRIBE-Sector Reports' in the subject field.
|
||
griffith-j/discussion_threads/431.
|
11192583.1075849662873.JavaMail.evans@thyme
|
Tue, 1 May 2001 04:34:00 -0700 (PDT)
|
Carr Futures Research : Data Updates (See attached file: NAPM Survey.pdf)(See attached file: Construction
Spending.pdf)
Carr Futures
150 S. Wacker Dr., Suite 1500
Chicago, IL 60606 USA
Tel: 312-368-6149
Fax: 312-368-2281
[email protected]
http://www.carrfut.com
- NAPM Survey.pdf
- Construction Spending.pdf
|
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kitchen-l/_americas/mrha/27.
|
1104991.1075840867232.JavaMail.evans@thyme
|
Fri, 21 Sep 2001 16:53:27 -0700 (PDT)
|
Good News Louise,
Some good news for the weekend.
1. Unocal wants to enter into a LOI within the next 2-4 weeks based on a Term Sheet presented to them this September. It is a Storage/Transport/Compression deal being led by Ned Higgins. (Look in your Compression section, Upstream Products folder for more details.)
2. Eva Rainer has received four bids for the Napoleonville. At a minimum, we call sell all 330 acres, get it off the balance sheet and still make $800,000. Eva wants to do a counter proposal of $8500/acre. How badly do you want to get this deal done this quarter?
Julie is going to come in on Sunday to look at my Storage/Transport presentation. I plan also getting feedback from regional gas heads (Luce/Tyc/Vickers) as well as Neal and Hunter before meeting with Lavo on Monday afternoon. I guess I will have a busy weekend and Monday, but I think it will be well worth it. I have already briefly spoken to Hunter/Neal today - Neal is a much bigger supporter - Shively will do whatever Lavo wants. I would also like to show you the presentation prior to the meeting with John.
Don't worry - I already have next Friday registered as a vacation day.
Regards, Mrha
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kaminski-v/sent_items/2569.
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9438699.1075863439908.JavaMail.evans@thyme
|
Wed, 22 Aug 2001 06:45:08 -0700 (PDT)
|
RE: Raptor Update Rudi,
Makes sense. Let's meet with Gordon. I shall ask Rakesh to set up a meeting.
Another question: do you know if the collar was hedged by the equity desk?
I would expect a cash event related to the exercise of the put that will affect Enron's
liquidity at some point.
Vince
-----Original Message-----
From: Zipter, Rudi
Sent: Wednesday, August 22, 2001 1:58 AM
To: Kaminski, Vince J
Subject: FW: Raptor Update
-----Original Message-----
From: Zipter, Rudi
Sent: Wednesday, August 22, 2001 7:57 AM
To: Yuan, Ding
Cc: Port, David; Murphy, Ted
Subject: Raptor Update
Ding --
As ENE stock and the stock market in general has been hammered lately, perhaps it is a good time to call Gordon McKillup and determine how the various Raptor portfolios are postured.
As you may recall from the prior analysis, they placed a option collar around the collateral (ENE stock). At that time, they felt that it would support the portfolio to around $20 / share. The main assumption, however, was that the assets in the Raptor structure would not devalue. Of course, for the public equities such as AVICI this is simply not the case. At the time of the initial analysis in March, AVCI traded at roughly $17 / share and it now trades at $3.65 / share on approximately 1.1 million shares. OOPS!
Rudi
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hernandez-j/inbox/260.
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18289010.1075852428890.JavaMail.evans@thyme
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Wed, 11 Jul 2001 21:38:07 -0700 (PDT)
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En Touch Newsletter List@ENRON <??SEn Touch Newsletter List@ENRON>
|
EnTouch Newsletter =20
BUSINESS HIGHLIGHTS
Enron Global Markets
EGM's global crude and products group closed its largest trades to date wit=
h EOTT Energy Partners, L.P. (NYSE: EOT) on June 29,2001. Enron Gas Liquid=
s, Inc. ("EGLI") is the counterparty to a 10-year toll conversion agreement=
and a 10-year storage capacity agreement that also provides transportation=
. The toll conversion agreement calls for EGLI to deliver a combination of=
feedstocks (methanol, natural gas, and normal butane) to be converted into=
various offtake products, primarily MTBE.=20
As a part of the 10-year conversion agreement, EGLI has the option to conve=
rt the facility into an Iso Octane plant. The option to convert is EGLI's =
sole and exclusive right. In addition, the call helps to mitigate the regu=
latory risk associated with the MTBE market.
Prior to the close of the 10-year conversion and storage capacity agreement=
s, Enron's corporate development group organized the sale of the hydrocarbo=
n-processing complex in Morgan's Point, Texas, and a liquids pipeline grid =
system to EOTT for approximately $120 million. The asset sale was predicat=
ed on the agreements to be entered into between EGLI and EOTT. =20
These combined agreements represent EGM's largest transaction to date.
EGM Fundamentals
EGM Fundamentals welcomes Andrew Hill to the Houston office for a six-month=
assignment from London. Andrew joined EGM in March as a Senior Specialist=
and has been instrumental in developing the growing range of EGM Fundament=
als publications such as Critical Mass and The Week Ahead. In Houston, And=
rew will be working with Richard Lassander to manage analysis of the crude =
and products markets. Prior to joining EGM, Andrew worked as a management =
consultant specializing in Latin America with Wood McKenzie.
EGM Fundamentals has begun analysis of domestic freight markets. This new =
effort, managed by Jeff Andrews, is being coordinated with Matt Arnold's fo=
rward trading group in Enron Freight Markets (EFM). Current analysis is fo=
cused on over-the-road trucking, following the initial commercial focus of =
EFM, and the development of diesel hedging strategies. Related projects in=
clude modeling the seasonality of trucking demand and diesel fuel consumpti=
on and forecasting on-road diesel prices. Within the next three to four we=
eks, analysis will begin of the intermodal freight network. Interested par=
ties should watch the EGM Fundamentals intranet site (<http://egmfundy.corp=
.enron.com>) for updates.
East Power Origination
The Sand Hill Energy Center in Austin was dedicated on Wednesday, July 11th=
at 10:00 am. The $93.7 million project is the first peaking facility of i=
ts kind in Texas to be constructed with selective catalytic reduction pollu=
tion control equipment that reduces the nitrogen oxide (NOx) emission rate =
by 80 percent. NOx emissions from the units are 5 parts per million (ppm),=
which is considerably less than the amounts allowed by state and federal r=
egulations. Congratulations to the development team!
IN THE NEWS
"For California to continue this bogus claim of $8.9 billion, I think just =
shows that they are not interested in any kind of a settlement," Enron spok=
esman Mark Palmer said. "They are just interested in creating a whipping po=
st. The last thing that the political leadership in California wants to do =
is take responsibility for the problem they created." Houston Chronicle, J=
uly 10, 2001.
WELCOME
New Hires
EGM - Todd Litton
EIM - Ayesha Kanji, Matt Christiansen
ENA - Alex McElreath, Chris Czuppon, Joanne Rozycki, Todd Callaway, Lisa K=
oerselman, Christopher Davis, Sandra Haldeman
Transfers (to or within)
ENA - Michael Newlin, John Garrison, Cheryl White, Diane Cook, Jennifer Mar=
tinez
EIM - Sylvia Sauseda
EGM - John Cote, Laura Mireles, Tim Norton, Doris Wilhoite
NUGGETS & NOTES
Travel tip of the week:
Out of Town Calling. Direct calls from hotels are not encouraged. When call=
ing to the Enron Building, 3 Allen Center or Omaha, use of the 1-800-97-ENR=
ON is often the most cost effective method. For other locations, dial 1-80=
0-96-ENRON, enter the number you are calling and then your AT&T corporate c=
alling card number. Please contact your Lan support department for 1-800 d=
ial-in numbers for cost effective remote connections.
Global Strategic Sourcing: UPS
As part of the recently negotiated agreement with United Parcel Service (UP=
S), Enron employees may now utilize two new letter centers when sending pac=
kages after hours. These letter centers are located in Three Allen Center,=
on the ground level, behind the down escalator, near the U.S. Postal Servi=
ces self-service area and in the Enron Building, at the back of the escalat=
ors near the automated teller machine. =20
Letter-sized envelopes, as well as boxes up to 18"x 13" x 3" can be shipped=
via Next-Day Air, Second-Day Air, Third-Day Select, UPS International and =
UPS World-Wide Express Service. Pick up times at the letter centers are 7:=
45 p.m. for Three Allen Center and 8:00 p.m. for the Enron Building, Monday=
through Friday.
Contact: Glenn Lewis, Global Strategic Sourcing contract manager at 713-646=
-7512.
EnronOnline Statistics
Below are the latest figures for EnronOnline as of July 12, 2001:
=09Total Life to Date Transactions > 1,180,000
Life to Date Notional Value of Transactions > $696 billion
NEWS FROM THE GLOBAL FLASH
Enron Secures First Industrial Customer Gas Supply Deal In Germany=20
Congratulations to the German Gas Origination team for closing its first ph=
ysical supply contract with an industrial customer. The customer, based in=
Stendal, Germany, operates steam boilers for a milk factory and will be ta=
king gas from Enron for a contract of 9.3 MW of interruptible one-year base=
load.
In connection with this supply contract the Continental Gas Trading team co=
mpleted a gas supply transaction, the first inside Germany by a non-incumbe=
nt player, with EnBW at Steinitz, to overcome capacity constraints expected=
in Q3 this year. Due to the fragmented gas industry in Germany, Enron had=
to secure transport with no less than four network operators inside German=
y in order to close the gas supply deal. "Although we are happy that we ha=
ve successfully secured all necessary transportation to fulfill our contrac=
tual obligations, it was quite a challenge to reach agreement with four net=
work operators -- while this was a transaction only within Germany, the neg=
otiation with the network operators was as complex as securing gas transpor=
t from Ireland through the UK and Belgium into France," commented Carsten H=
aack, who closed this deal together with Helge-Juergen Beil, Ulrich Finke a=
nd Gordon Smith from the German Gas Origination team. Another important el=
ement of the deal is that the team succeeded in establishing the first tran=
sportation contract for VNG, Germany's largest German import company after =
Ruhrgas. "This contract will serve as a useful basis for future gas deals, =
especially in East Germany, " said Haack. "But more importantly, this deal =
will send a message to the market that once again Enron has proven to custo=
mers it can deliver on its promises and, of equal importance, that network =
operators had better take our transportation requests seriously!" he added.
ETOL Celebrates New Deals With Du Pont
Congratulations to Enron Teesside Operations Ltd (ETOL) for signing a serie=
s of deals with chemical giant Du Pont for supplies to its facilities at Wi=
lton International.
A new arrangement between the two parties means Enron will supply two milli=
on tonnes of steam and 30 MW of electricity a year to Du Pont's nylon plant=
s. New agreements have also been reached for gas supplies, and for the prov=
ision of a number of key site services including pipeline maintenance, secu=
rity and emergency response.
Paul Gavens, CEO of ETOL, said: "Securing an exclusive long-term supply agr=
eement of this nature with one of our largest customers is a fantastic achi=
evement for ETOL. The new arrangements extend the terms of our current cont=
ract for steam and power to 2010, restructure the pricing arrangements and =
offer the opportunity for adding value to both companies by optimizing the =
operation of their respective assets."
Enron's Northernmost Partner!
Enron Nordic Energy has entered into a partnership agreement with Varanger =
Kraft AS. Under the terms of the deal, Enron Nordic Energy will assist Var=
anger in hedging its power sales, power prices and area prices. The partne=
rship will also involve the development of a risk strategy for Varanger and=
the provision of weather risk products relating to water flow and temperat=
ure risk. In addition, the agreement will open opportunities for Enron to =
develop contacts with Varanger Kraft's Russian partners and the Russian mar=
ket generally. Following a deal with Luster Energiverk, this is the second=
such agreement closed by Enron Nordic Energy in recent weeks.
This is our first partner in the Nordic region with established relationshi=
ps in Russia, through its ownership of a grid connected to Russia. Varange=
r has hydro power plants on the Passvik river near the Russian border. As =
the Passvik river flows on both sides of the border, Varanger works in coop=
eration with Russian partners to manage the water storage.=20
LEGAL STUFF
The information contained in this newsletter is confidential and proprietar=
y to Enron Corp. and its subsidiaries. It is intended for internal use onl=
y and should not be disclosed.
<Embedded Paintbrush Picture>
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griffith-j/deleted_items/902.
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26569690.1075855218676.JavaMail.evans@thyme
|
Fri, 28 Dec 2001 04:44:21 -0800 (PST)
|
Happy Anniversary, 2milldesign [IMAGE][IMAGE]
[IMAGE]
[IMAGE] Hey, 2milldesign! You didn't think we'd forget, did you? It's been a year now since you first ventured onto eBay . We hope you've enjoyed some fabulous finds, successful sales, and just being a part of our lively online community! You've truly helped to make eBay what it is today. So, Happy Anniversary, thanks again and stay tuned - there's lots more coming your way on eBay!
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eBay sent this e-mail to you because your Notification Preferences indicate that you want to receive information about Special Promotions, Offers and Events. You are subscribed as [email protected]. To change your communication preferences, click here . Or, simply reply to this e-mail with UNSUBSCRIBE in the subject line. Please note that it may take up to 14 days to process your request. Visit our Privacy Policy and User Agreement if you have any questions. Copyright ? 2001 eBay Inc. All Rights Reserved. Designated trademarks and brands are the property of their respective owners. eBay and the eBay logo are trademarks of eBay Inc.
[IMAGE]
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kean-s/discussion_threads/944.
|
27943881.1075848094078.JavaMail.evans@thyme
|
Fri, 18 Aug 2000 01:28:00 -0700 (PDT)
|
Steve Kean Briefing Paper ---------------------- Forwarded by Jeff Dasovich/SFO/EES on 08/18/2000 06:28
AM ---------------------------
[email protected] on 08/17/2000 04:52:35 PM
To: [email protected]
cc:
Subject: Steve Kean Briefing Paper
Designed to be on my letterhead - it is from me.
- one page CEC.doc
|
||
derrick-j/contacts/50.
|
7263485.1075852459412.JavaMail.evans@thyme
|
Wed, 26 Sep 2001 15:32:41 -0700 (PDT)
|
Strasburger Price Stewart Holliman
713-951-5677
|
||
jones-t/notes_inbox/2487.
|
23644668.1075847129489.JavaMail.evans@thyme
|
Wed, 8 Nov 2000 00:52:00 -0800 (PST)
|
Re: EnronOnline ---------------------- Forwarded by Stephanie Sever/HOU/ECT on 11/08/2000
08:47 AM ---------------------------
Anna Gardiner
11/08/2000 07:06 AM
To: Claudia Clark/HOU/ECT@ECT, Stephanie Sever/HOU/ECT@ECT
cc:
Subject: Re: EnronOnline
Claudia/Stephanie
Please could you let me know who would be the best person in Houston Legal to
contact about this customer.
Thanks
Anna
---------------------- Forwarded by Anna Gardiner/LON/ECT on 08/11/2000 13:09
---------------------------
Robert Quick
08/11/2000 11:58
To: Anna Gardiner/LON/ECT@ECT
cc:
Subject: Re: EnronOnline
Anna I have no problem but cd you also check with ENA Legal in Houston.
Subject to anything they might say, I approve for all products,including
metals (but subject to the Segregation letter) except US power, weather and
credit. tks
Anna Gardiner
07/11/2000 14:31
To: Robert Quick/LON/ECT@ECT
cc: Justin Boyd/LON/ECT@ECT, Enron London - EOL Product Control
Group/LON/ECT@ECT, Andy James/EU/Enron@Enron
Subject: EnronOnline
Robert
In Justin's absence, please could you let me know if we would be able to
consider an application from a Limited Liability Company organized under the
laws of the State of Connecticut, USA? If possible, could you provide me
with an answer on this today or latest tomorrow as this customer is coming in
to the office on Thursday? The history behind this customer is that the
original company that Mr Papaeconomou wanted to trade under (NEWCO) was
incorporated in Liberia. As we do not have the relevant documentation to
support trading from Liberia we rejected his application. This would be a
good customer for Andy James (Seafreight) to get online and Mr Papaeconomou
is obviously very keen to obtain execute access as soon as possible through a
viable company.
Thanks
Anna
---------------------- Forwarded by Anna Gardiner/LON/ECT on 07/11/2000 14:27
---------------------------
"Lambros Papaeconomou" <[email protected]> on 07/11/2000 01:01:45
To: "Anna Gardiner" <[email protected]>
cc:
Subject: EnronOnline
Dear Mrs. Gardiner,
Thank you very much for your message dated November 6, 2000. Given the
present legal constraints concerning companies incorporated in Liberia,
would EnronOnline consider an application by a Limited Liability Company
organized under the laws of the State of Connecticut? If yes would you
please provide the relevant documentation for such entity?
I am looking forward to hearing from you.
Best Regards,
Lambros Papaeconomou, Director
New York Freight Exchange, Inc.
Tel: (203) 961-8848
Fax: (203) 961-8858
[email protected]
PS. I will be in London on Thursday November 9 and have an appointment to
meet with Andy James of Enron Shipping at 3PM. Should you be available
before or after my appointment, I would very much appreciate to meet you in
person and further discuss the requirements for opening a trading account
with EnronOnline (beyond the company jurisdiction requirement which I hope
would now be solved!)
|
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kaminski-v/all_documents/1249.
|
7118257.1075856211956.JavaMail.evans@thyme
|
Tue, 6 Mar 2001 10:05:00 -0800 (PST)
|
RE: Contract update Vince, if there are some differences that we need to correct, you and I can
meet tomorrow when you bring the contract in. I am available anytime after
lunch. Please call me at X30649.
Sheila
-----Original Message-----
From: Kaminski, Vince
Sent: Tuesday, March 06, 2001 3:10 PM
To: Sheila Walton/HOU/ECT@ENRON
Cc: Kaminski, Vince
Subject: Contract update
Sheila,
Some minor differences between the draft and the final executed version.
I have forgotten to bring the draft today, I shall send a copy to you
tomorrow.
There were some hand-written changes made by Greg ijn the draft that were not
transferred to
the final version.
Vince
|
||
jones-t/online_trading/268.
|
994176.1075847151224.JavaMail.evans@thyme
|
Thu, 16 Dec 1999 09:14:00 -0800 (PST)
|
EOL Credit Responses 12/16 Please find attached Credit's EOL responses for 12/16.
Regards
Molly
|
||
germany-c/sent_items/1085.
|
5091146.1075845149308.JavaMail.evans@thyme
|
Fri, 27 Apr 2001 18:00:00 -0700 (PDT)
|
Re: Hi IT'S BIDWEEK. I'M NOT GONNA SURVIVE. I WUZ THINKING "RETIREMENT SOUNDS REAL GOOD!"
"Immer, Ingrid" <[email protected]> on 04/27/2001 12:42:21 PM
To: "'[email protected]'" <[email protected]>
cc:
Subject: Hi
"Memento" is showing at the Greenway at 7:20.
|
||
baughman-d/all_documents/120.
|
10963272.1075848313406.JavaMail.evans@thyme
|
Mon, 29 Jan 2001 06:01:00 -0800 (PST)
|
Re: Another Vac. request Good with me
Kayne
|
||
hernandez-j/all_documents/461.
|
21715579.1075855515021.JavaMail.evans@thyme
|
Fri, 10 Nov 2000 05:40:00 -0800 (PST)
|
Fwd: Florida Ballots Content-Transfer-Encoding: binary
Date: Fri, 10 Nov 2000 13:34:24 -0500
From: "FRANK WU" <[email protected]>
To: "DOUGLAS K. EYBERG" <[email protected]>, "ELIZABETH TRUJILLO"
<[email protected]>, "GEORGE T. LEE" <[email protected]>, "KAREN MADDREY"
<[email protected]>, "RICHARD WAYNE JONES" <[email protected]>, "SOCORRO
HERNANDEZ" <[email protected]>, "TRUONG MANH NGUYEN" <[email protected]>
Subject: Florida Ballots
Mime-Version: 1.0
Content-Type: image/jpeg
Content-Disposition: attachment; filename="Floridaballot_1.jpg"
- Floridaballot_1.jpg
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hernandez-j/all_documents/122.
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29542184.1075855502631.JavaMail.evans@thyme
|
Mon, 11 Dec 2000 07:15:00 -0800 (PST)
|
EMAZING Internet Tip of the Day - Northern Light Search =09=09EMAZING Home[IMAGE]Edit Your ProfilePrivacy
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|
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jones-t/inbox/126.
|
21201996.1075858951550.JavaMail.evans@thyme
|
Wed, 26 Sep 2001 10:55:47 -0700 (PDT)
|
(Recipient list suppressed)@ENRON <??S(Recipient list suppressed)@ENRON>
|
post script Just a quick note in response to several emails regarding this Friday.
YES INDEED, Friday Night WINE BAR at Christopher's will be in full swing
this Friday night from 6 until 10 PM.
As always, we will be showcasing 45 wines by the glass and our Chef will be
offering 5 special "Plats du Jour". Our wines by the glass are offered at
retail prices ranging from $4 to $15, and our "Plats" range from $10 to $22.50.
No reservations are required, but get here early for the best seating. Or,
come in around 9 PM for later seating.
See y'all there.
Christopher
"BEST WINE STORE" Houston Press 2001
|
|
dasovich-j/all_documents/1791.
|
18705001.1075842980934.JavaMail.evans@thyme
|
Tue, 26 Sep 2000 11:27:00 -0700 (PDT)
|
Re: Comments on High Tech Messages Can't thank you enough for your help and for comments. I'm going to continue
to work on it. Have another data question. Can we determine big high tech's
electricity bill was in California and nationally last year? Thanks again.
Best,
Jeff
Margaret Carson
09/26/2000 03:40 PM
To: Jeff Dasovich/NA/Enron@Enron
cc:
Subject: Re: Comments on High Tech Messages
Hi Jeff, Great organization and great stuff here... Three comments on
the message you have prepared.
All US Hi tech is 8 percent of the US GNP-- not just
California's hi tech share... ( which I think is how it now
reads.....)
I would add under " Last Century Infrastructure " that Calif. only
added 670 MW in the past 5 years when it needed
5500 MW-- it needed 8 times more than was actually built but
could not get built due to siting restrictions...
On last Slide last line Small typo reads " a....a...."
Great job.. Margaret..
|
||
baughman-d/all_documents/81.
|
24422475.1075848312265.JavaMail.evans@thyme
|
Thu, 11 Jan 2001 13:12:00 -0800 (PST)
|
ClickAtHome Pilot 3 Program - An Invitation Want to Get Innovative at Home?
We are excited to extend an invitation to you to participate in Pilot 3 of
Enron's new ClickAtHome program.
The ClickAtHome program is Enron's innovative solution to provide eligible
employees with a high-end computer and high-speed internet connection.
If you are interested in participating in the ClickAtHome pilot program,
please read about "How to get started in Pilot 3" by clicking the link below.
http://home.enron.com:84/messaging/pilot3.ppt
Details pilot member expectations, commitments, and a tentative pilot time
table.
Ordering will begin on Friday, January 12th. To get more information about
the program or place your order, visit http://clickathomepilot.enron.com
Dell will be in Houston to assist you with any questions you may have :
1/16/2001 8:00:00 AM-5:00:00 PM
1/17/2001 8:00:00 AM-5:00:00 PM
1/18/2001 8:00:00 AM-5:00:00 PM
1/19/2001 8:00:00 AM-2:30:00 PM
Location: EB568 and EB560
If you have questions, please send them to [email protected].
We look forward to enabling you to Get Innovative at Home!
ClickAtHome Project Team
|
||
grigsby-m/deleted_items/101.
|
9386393.1075853106721.JavaMail.evans@thyme
|
Mon, 22 Oct 2001 20:11:02 -0700 (PDT)
|
Fw: Wedding Date ----- Original Message -----
From: "Grigsby, Mike" <[email protected]>
To: <[email protected]>
Sent: Thursday, September 06, 2001 3:18 PM
Subject: FW: Wedding Date
-----Original Message-----
From: Chase Belew [mailto:[email protected]]
Sent: Thursday, August 30, 2001 8:45 AM
To: Drew and Shelby Anderson; John Tamny; Becky Belew; Blake Benton;
Brad Beckel; Carter, Carl; Chad Pierce; Danner and Tracy Bethel; Dave
Page; David Bethel; Denise Bethel; Donald R. Bethel; Greg Parr; Guthrie
Shavor; Hans Brindley; Jason Russell; Jeff & Haley Beckel; Jeff Cameron;
Jeff Markey; Kari Pierce; Kevin Kerr; Lisa and Brian Fahey; Matt Belew;
Matt Hawkins; Grigsby, Mike; Mitch Watson; Mom; Robert Elms; Robert
Moseley; Scott & Stacy Richardson; Tim Moriarty; Troy MacMane; Brian
Pierce; Brian McCabe
Subject: Wedding Date
Leah and I have settled on April 13th as the wedding date and San Miguel
de
Allende, Mexico as the place. We will be sending out a "Save the Date"
notice and a website link with more information including the schedule,
travel options, accommodations and stuff to do in SM. I just wanted to
give
everyone a heads up. We look forward to seeing all of you there.
Chase
(512) 469-9752 Home
(512) 773-1793 Mobile
**********************************************************************
This e-mail is the property of Enron Corp. and/or its relevant affiliate and
may contain confidential and privileged material for the sole use of the
intended recipient (s). Any review, use, distribution or disclosure by
others is strictly prohibited. If you are not the intended recipient (or
authorized to receive for the recipient), please contact the sender or reply
to Enron Corp. at [email protected] and delete all
copies of the message. This e-mail (and any attachments hereto) are not
intended to be an offer (or an acceptance) and do not create or evidence a
binding and enforceable contract between Enron Corp. (or any of its
affiliates) and the intended recipient or any other party, and may not be
relied on by anyone as the basis of a contract by estoppel or otherwise.
Thank you.
**********************************************************************
|
||
kaminski-v/resumes/447.
|
18107501.1075856625075.JavaMail.evans@thyme
|
Thu, 6 Jul 2000 03:44:00 -0700 (PDT)
|
Michael Catanese Vince,
Mr. Catanese is not ready yet. His statistics is rusty, and he only finishes
11 Chapters of John Hull (18 Chapters are minimal
to be serious).
Zimin
|
||
jones-t/all_documents/11327.
|
7246882.1075847360971.JavaMail.evans@thyme
|
Fri, 27 Apr 2001 04:50:00 -0700 (PDT)
|
EOL approvals, 04-27-01 ----- Forwarded by Tana Jones/HOU/ECT on 04/27/2001 11:50 AM -----
Walter Guidroz/ENRON@enronXgate
04/27/2001 11:40 AM
To: Karen Lambert/HOU/ECT@ECT, Tana Jones/HOU/ECT@ECT, Samuel
Schott/HOU/ECT@ECT, Mark Taylor/HOU/ECT@ECT, Brant Reves/ENRON@enronXgate,
Debbie R Brackett/ENRON@enronXgate, David Hardy/LON/ECT@ECT, Lesli
Campbell/ENRON@enronXgate, Cynthia Clark/ENRON@enronXgate, Enron Europe
Global CounterParty/LON/ECT@ECT, Stephanie Sever/ENRON@enronXgate, Tom
Moran/ENRON@enronXgate, Claudia Clark/ENRON@enronXgate, William S
Bradford/ENRON@enronXgate, Lisa Lees/ENRON@enronXgate, Juana
Fayett/Corp/Enron@Enron, Jana Morse/Corp/Enron@Enron, Trang Le/HOU/ECT@ECT,
Paul Maley/LON/ECT@ECT, Sonya Clarke/LON/ECT@ECT, Tim Davies/LON/ECT@ECT,
Karen O'Day/ENRON@enronXgate, Tanya Rohauer/ENRON@enronXgate, Kelly
Lombardi/NA/Enron@Enron, Brian Lindsay/Enron Communications@Enron
Communications, EOL Call Center@ECT, Bill D Hare/HOU/ECT@ect, Amy
Heffernan/Enron Communications@Enron Communications, Molly LaFuze/Enron
Communications@Enron Communications, Danny Clark/Enron Communications@Enron
Communications, Stephanie Panus/NA/Enron@Enron, Teresa
Mandola/ENRON@enronXgate, Bill Kyle/ENRON@enronXgate, Amber Ebow/HOU/ECT@ECT
cc:
Subject: EOL approvals, 04-27-01
Please see attached.
|
||
arora-h/deleted_items/189.
|
31768755.1075861397771.JavaMail.evans@thyme
|
Tue, 20 Nov 2001 07:54:05 -0800 (PST)
|
Next Options Session & Notes The next options session will be held on Monday, Dec. 3 1:00-2:00 in ECS 05990.
The topic will be "Options Session 2: Spread Options", covering crack, heat and spark spreads and will include case studies.
Dave
|
||
kean-s/calendar/untitled/1293.
|
7038992.1075846304467.JavaMail.evans@thyme
|
Fri, 8 Sep 2000 05:46:00 -0700 (PDT)
|
Re: Elizabeth Stolpe Can't open- meeting w/ Breathitt went well .. still alot of work to do- will
keep you advised.
Ralph Reed <[email protected]> on 09/08/2000 12:14:30 PM
To: "Richard Shapiro (E-mail)" <[email protected]>, "Steven Kean (E-mail)"
<[email protected]>
cc:
Subject: Elizabeth Stolpe
Here's another good candidate for head of the DC office you guys may want to
sit down with. Elizabeth Stolpe headed the DC office for Champion
Industries, is highly respected on the Hill and the political community, and
got a golden parachute when International Paper bought Champion. I have
attached her resume. (If you can't open this, email me to that effect and
I'll fax this.)
How goes it with Breathed?
- Elizabeth Stolpe.max
|
||
jones-t/notes_inbox/597.
|
30906297.1075847080279.JavaMail.evans@thyme
|
Thu, 8 Jun 2000 05:06:00 -0700 (PDT)
|
ISDA Master Agreement with Christiania Bank og Kreditkasse ASA We have received the following executed Master Agreement:
Type of Contract: ISDA Master Agreement (Multicurrency-Cross Border)
Effective Date: February 10, 1999
Enron Entity: Enron North America Corp.
Counterparty: Christiania Bank og Kreditkasse ASA
Transactions Covered: Approved for all products except: pulp and paper
PLEASE NOTE: Counterparty is a multibranch party; it may act through the
following branch offices: Oslo (head office), Bergen (Norway), London,
New York and Singapore.
Susan D. Flynn
Enron North America Corp.
1400 Smith Street, EB3806
Houston, Texas 77002
Phone: 713-853-0975
Fax: 713-646-3490
|
||
bass-e/_sent_mail/1202.
|
29543392.1075854797447.JavaMail.evans@thyme
|
Fri, 2 Mar 2001 02:56:00 -0800 (PST)
|
Re: Good Morning we could go to trulucks, brennans, river oaks, wherever you want to go.
let me know
e
"K. Bass" <[email protected]> on 03/02/2001 08:33:34 AM
Please respond to "K. Bass" <[email protected]>
To: Eric Bass <[email protected]>
cc:
Subject: Good Morning
Hi Eric,
?
Sorry about your call.? What are you going to do all weekend without a car??
Won't they give you a loaner?
?
So, where do you want to go for dinner?? Let me know.? LU-Mom
|
||
beck-s/sent/179.
|
1097384.1075855900965.JavaMail.evans@thyme
|
Mon, 9 Oct 2000 09:50:00 -0700 (PDT)
|
Golf Tournament Details Klein High School Bearkadettes
2000 Golf Tournament
Tournament Location:
Raveneaux Country Club
9415 Cypresswood Drive
Spring, Texas 77379
(281) 370-6370
General Information:
Date: Monday, October 16, 2000
Registration: 12:00 Noon
Start time: 1:00 PM
Format: Florida Scramble, Shotgun Start
Mulligans: Four per player (2 per nine) $5.00 each prior to start
Lunch: Sandwiches and soft drinks: 12:00 noon - 1:00 PM
Dinner: Fajita Dinner/Live Auction/Silent Auction
Prizes: Gross & Net Prizes
Hole-in-One-Contest - possible car to be given away
Awesome Foursome sponsorship includes:
Hole Sponsorship Sign
Green Fees for Four Players
Range Balls for Four Players
Recognition in Program
2 Golf Carts
4 Lunches
4 Dinners
If you need any additional information, please call Patti at x39106.
|
||
davis-d/_sent_mail/24.
|
3011819.1075853952290.JavaMail.evans@thyme
|
Wed, 6 Dec 2000 01:52:00 -0800 (PST)
|
Updated - Approval Authorizations ---------------------- Forwarded by Dana Davis/HOU/ECT on 12/06/2000 09:51 AM
---------------------------
Enron North America Corp.
From: Ben Gwaltney @ ENRON 12/06/2000 09:23 AM
To: Dana Davis/HOU/ECT@ECT
cc:
Subject: Updated - Approval Authorizations
Here is the new policy.
Ben
---------------------- Forwarded by Ben Gwaltney/NA/Enron on 12/06/2000 09:14
AM ---------------------------
From: Larry Dallman 11/07/2000 11:27 AM
To: Ben Gwaltney/NA/Enron@Enron, Andrew Zabriskie/Corp/Enron@ENRON, Linda
Martin/GPGFIN/Enron@ENRON
cc:
Subject: Updated - Approval Authorizations
---------------------- Forwarded by Larry Dallman/GPGFIN/Enron on 11/07/2000
11:24 AM ---------------------------
Richard Causey
11/07/2000 09:18 AM
Sent by: Sharron Westbrook
To: Michael K Patrick/NA/Enron@Enron, Brent A Price/HOU/ECT@ECT, Rod
Hayslett/FGT/Enron@ENRON, Jeffrey E
Sommers/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, John Echols/Enron
Communications@Enron Communications, Carol
Howes/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Howard Selzer/Corp/Enron@ENRON,
Kevin Hughes/HOU/EES@EES, Bob Butts/GPGFIN/Enron@ENRON, Wes
Colwell/HOU/ECT@ECT, Keith Marlow/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Kent
Castleman/NA/Enron@Enron, Fernley Dyson/LON/ECT@ECT, Beth Apollo/LON/ECT@ECT,
Ben F Glisan/HOU/ECT@ECT, Mary Perkins/HOU/ECT@ECT, Larry
Dallman/GPGFIN/Enron@ENRON, Judy
Knepshield/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Jim
Gearhart/Corp/Enron@ENRON, Tod A Lindholm/NA/Enron@Enron, Shawn
Kilchrist/NA/Enron@Enron, Terrie Wheeler/GPGFIN/Enron@ENRON, John
Berggren/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Lisa Sutton/FGT/Enron@ENRON,
Misty Barrett/HOU/EES@EES, Dave Duncan/AA/Corp/Enron@ENRON
cc:
Subject: Updated - Approval Authorizations
As mentioned in my previous memo regarding Cash Control Standards, approval
authorizations are critical to our cash control environment. Corporate
Accounts Payable is actively pursuing a "Workflow" system to route invoice
images for approval and processing. This workflow solution will not be
implemented until early 2001. In the interim, an approval process will be
implemented by AP and Treasury to ensure invoices have proper approvals and
correct general ledger coding. Effective Monday, November 20 the following
approval authorizations will be required for all invoices, payment requests
and wire transfer requests that are $1,000,000 or greater:
(A) Those NOT approved by an underlying contract or RAC require two
approvals: a Managing Director approval of the payment, and an Accounting
Director approval of the general ledger coding.
(B) Those that ARE approved by an underlying contract or RAC require an
Accounting Director approval of the payment and general ledger coding.
In both examples above, supporting documentation must be attached. If not
attached, then the payment will not be processed.
To assist us with implementing this approval process, I'm requesting each of
you to accumulate signatures of the Managing Directors and Accounting
Directors in your business unit using the attached form. Please forward this
information to Larry Dallman (JFR568) by Friday, November 10th.
This new process becomes effective Monday, November 20th. It important to
provide this information or payments greater than $1,000,000 will not be
processed.
|
||
dasovich-j/mba__managerial_accting/1.
|
29504484.1075843091661.JavaMail.evans@thyme
|
Tue, 15 Feb 2000 02:09:00 -0800 (PST)
|
RE: Do you know your costs? For what its worth, see below. As a disclaimer I have little confidence
that the approach I took was the best one.
-----Original Message-----
From: [email protected]
[SMTP:[email protected]]
Sent: Tuesday, February 15, 2000 8:36 AM
To: [email protected]; [email protected]
Subject: Do you know your costs?
Gentlemen;
While I pretend to know something about wine, I must admit I
know nothing about costing. Would you be so kind as to offer your
opinions on the following:
(1) Plastic rings- the 10K capital investment should not be
considered in the marginal cost, as it is an investment to be
depreciated over useful life of equipment (T/F) To cover my bets I did
it both excluding the 10K, and including the 10K, making different
assumptions in each case
(1b) For incremental (marginal) costs, we should not look at
overhead and period costs (ie in Vortec problem the S&A component was
held constant; is that true here as well even though these are allocated
based on direct labor)? I broke things down into variable overhead
(.8direct labor) and fixed, and assumed the fixed component didn't
matter since the way in which it was being allocated was somewhat
arbitrary and hence shouldn't guide decision making.
(1c) Variable overhead costs- are these in addition to the
fixed overhead costs (Mfctring + S&A), or should they be subtracted from
one or both? I interpret the controller's statement to mean that he
missed them in the schedule provided, and that we need to add them, in
addition to the other two. I interpreted it as part of total overhead,
not in addition to.
(2) For next 34500 steel rings, materials are sunk cost and not
included as a cost(T/F) T
(2B) same as (1B) incremental costs do not include Overhead
costs? I included the variable component of overhead (.8 direct labor)
but not other overhead.
Note trick for problem 2: Since the conversion to steel rings
would be done in the summer at a 100% direct labor rate, and since
workers in the summer would otherwise be getting paid at 70% rate for
doing nothing, one might interpret that the incremental cost of direct
labor is only 100%-70%=30% the rate it would otherwise be. This makes
the incremental cost of doing the steel to steel ring conversion much
cheaper than it would otherwise be.
(3) Differential cost means what? Difference in cost between
Finished Goods inventory and the WIP inventory? It seems to me that it
was undefined and hence you need to state explicitly what a relevant
comparison is and make it. In this case I interpretetd it as the
difference in cost between producing the steel rings and a like number
of plastic rings, and assumed that the cost of producing the steel rings
in inventory is 0 since its already sunk.
Your comments are greatly appreciated!
Jonathan
Jonathan Hudacko
415.305.4293 (HM)
510.649.6476 (WK)
----------------------------------------------
[email protected] is brought to you by
the Stanford Alumni Association and Critical Path.
|
||
fischer-m/discussion_threads/174.
|
9372088.1075840455543.JavaMail.evans@thyme
|
Thu, 23 May 2002 07:36:00 -0700 (PDT)
|
Faults Table Attached is a summary report showing the following data fields for the faults
table. (Fault Number, Include,Fault Description) I've cross referenced this
with the spread sheet Kim provide.
0 - Considered Status Message (SOT increments)
1- Considered Fault (LOT,DT,MT,RT,EST,and WOT increment)
If there are any comments please let me know.
JD
|
||
carson-m/deleted_items/183.
|
4539788.1075853145155.JavaMail.evans@thyme
|
Wed, 24 Oct 2001 10:56:47 -0700 (PDT)
|
/o=ENRON/ou=NA/cn=Recipients/cn=notesaddr/cn=a478079f-55e1f3b0-862566fa-612229 </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Notesaddr/cn=a478079f-55e1f3b0-862566fa-612229>, Abler, William </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Wabler>, Aggarwal, Anubhav </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Aaggarwa>, Allen, Diana </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Dallen3>, Arora, Harry </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Harora>, Bailey, Debra </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Dbailey2>, Ballato, Russell </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Rballato>, Ballinger, Ted </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Tballing>, Baughman Jr., Don </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Dbaughm>, Benchluch, Moises </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Sbenchlu>, Benjelloun, Hicham </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Hbenjell>, Benson, Robert </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Rbenson>, Bentley, Corry </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Cbentle>, Black, Tamara Jae </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Tblack>, Blaine, Jay </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Jblaine>, Bolt, Laurel </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Lbolt>, Broderick, Paul J. </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Pbroder>, Broussard, Richard </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Rbroussa>, Burnett, Lisa </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Lburnett>, Campbell, Larry F. </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Lcampbel>, Capasso, Joe </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Jcapasso>, Carson, Mike </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Mcarson2>, Chen, Alan </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Achen2>, Choate, Jason </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Jchoate>, Cline, Kevin </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Kcline>, Collins, Dustin </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Dcollin>, Comeaux, Keith </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Kcomeaux>, Coulter, Kayne </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Kcoulte>, Davis, Mark Dana </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Mdavis>, Day, Smith L. </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Sday>, Dean, Clint </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Cdean>, Decook, Todd </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Tdecook>, Emesih, Gerald </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Gemesih>, Errigo, Joe </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Jerrigo>, Forney, John M. </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Jforney>, Freije, William </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Wfreije>, Garcia, Miguel L. </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Mgarcia6>, Gilbert, Gerald </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Ggilbe1>, Gilbert-smith, Doug </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Dsmith3>, Giron, Gustavo </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Ggiron>, Greer, Andrew </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Agreer>, Gualy, Jaime </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Jgualy>, Guerra, Claudia </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Cguerra2>, Gulmeden, Utku </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Ugulmede>, Gupta, Gautam </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Ggupta>, Ha, Amie </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Aha>, Hanse, Patrick </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Phanse>, Hernandez, Juan </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Jhernan3>, Imai, Rika </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Rimai>, Ingram, David </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Dingram>, Jenkins IV, Daniel </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Djenkin2>, Kaniss, Jason </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Jkaniss>, King, Jeff </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Jking6>, Kinser, John </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Jkinser>, Larkworthy, Carrie </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Clarkwor>, Laurent, Dean </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Mlauren>, Laverell, Justin </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Jlavere>, Lenartowicz, Chris </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Clenart>, Lorenz, Matt </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Mlorenz>, Lotz, Gretchen </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Glotz>, Lowell, Thomas </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Tlowell>, Mack, Iris </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Imack>, Mahajan, Ashish </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Amahajan>, Makkai, Peter </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Pmakkai>, Marquez, Mauricio </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Mmarque2>, Maskell, David </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Dmaskell>, May, Tom </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Tmay>, McElreath, Alexander </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Amcelrea>, Miller, Jeffrey </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Jmiller>, Oh, Seung-Taek </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Soh2>, Olinde Jr., Steve </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Solinde>, Pace, Andy </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Apace>, Padron, Juan </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Jpadron>, Pan, Steve </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Span2>, Philip, Willis </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Wphilip>, Podurgiel, Laura </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Lpodurg2>, Poppa, John D. </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Jpoppa>, Presto, Kevin M. </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Kpresto>, Quenet, Joe </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Jquenet>, Rawal, Punit </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Prawal>, Rodriquez, Andy </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Arodriqu>, Rogers, Benjamin </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Brogers>, Rust, Bill </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Brust>, Ryan, David </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Dryan>, Saibi, Eric </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Esaibi>, Schiavone, Paul </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Pschiavo>, Schneider, Bryce </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Bschneid>, Seely, Michael </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Charles_Seely>, Serio, Erik </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Eserio>, Shoemake, Lisa </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Lshoema>, Stalford, Robert </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Rstalfor>, Stepenovitch, Joe </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Jstepeno>, Sturm, Fletcher J. </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Fsturm>, Symms, Mark </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Msymms>, Tamma, Ramanarao </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Rtamma>, Thomas, Paul D. </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Pthomas2>, Trejo, Reese </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Mtrejo>, Valdes, Maria </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Mvaldes>, Vernon, Clayton </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Cvernon>, Wang, Steve </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Swang3>, Williams, Ryan </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Rwillia8>, Willis, Cory </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Cwillis>, Zipperer, Mike </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Mzippere>, Baughman, Edward D. </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Ebaughm>, Carroll, Lex </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Lcarroll>, Clynes, Terri </O=ENRON/OU=NA/CN=RECIPIENTS/CN=TCLYNES>, Dalton III, Oscar </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Odalton>, Forster, David </O=ENRON/OU=NA/CN=RECIPIENTS/CN=DFORSTER>, Kelly, Mike E. </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Mkelly3>, Ratliff, Beau </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Bratliff>, Sewell, Doug </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Dsewell>, Valderrama, Larry </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Lvalder>
|
FW: Update on RTOs -- Today's FERC meeting -----Original Message-----
From: Nicolay, Christi L.
Sent: Wednesday, October 24, 2001 12:55 PM
To: Black, Tamara Jae; Harvey, Claudette; Meyn, Jim; Duran, W. David; Lavorato, John; Kitchen, Louise; Herndon, Rogers; Aucoin, Berney C. ; Misra, Narsimha; Furrow, Dale; Sharfman, Guy
Cc: Novosel, Sarah; Steffes, James D.; Lindberg, Susan
Subject: Update on RTOs -- Today's FERC meeting
TJ and Claudette -- please forward to your groups:
FERC held a discussion today on the status of NE, SE, and Midwest RTO proposals. The FERC judges and staff gave the Commission reports from the mediations and current MISO, SPP and Alliance filings. While there was much discussion about the appropriate model (non-profit ISO, Transco, ITC), with questions on whether congestion management models were the same or simply compatible, no decisions were made by FERC. Chairman Wood did commit to quickly providing "certainty" to all stakeholders, including the investment community. He asked FERC Staff to prepare reports on each region based on comments received at RTO week and through filed RTO week comments (Enron will file Nov. 2) and report back to FERC at the Nov. 7 meeting.
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dasovich-j/notes_inbox/4638.
|
4262214.1075843711820.JavaMail.evans@thyme
|
Fri, 30 Mar 2001 04:00:00 -0800 (PST)
|
Fwd: FERC Chairman Curt HSbert Will Block Western Price Caps This just in ...
IssueAlert for March 30, 2001
FERC Chairman Curt HSbert Will Block Western Price Caps
by Will McNamara
Director, Electric Industry Analysis
[News item from Energy Info Source] Reuters is reporting that Curt HSbert,
FERC Chairman, said he would block a move by fellow commissioners to impose a
temporary price cap on wholesale electricity prices in the western United
States. HSbert reportedly said that even if a majority of the three member
commission favored price caps, he would prevent a vote from being taken
because he does not believe price curbs would increase electricity supplies
or reduce demand in the region. "Absent someone proving to me that price caps
would bring more supply and less demand in California and the West, my answer
is yes," HSbert said, when asked by reporters if he would block a FERC vote
on western price caps. A FERC spokesman later downplayed HSbert's remarks.
"He did not say he would block any vote," said FERC spokesman Hedley Burrell.
"He said he would need to be shown that price caps would bring more supply or
less demand to the West."
Analysis: Just last week, I discussed the growing dissension with the FERC
over the price cap issue (see 3/21 IssueAlert). The dissension appears to be
coming to a head, just as FERC grows from a three-member commission to its
standard five members. As the philosophical complexion of the new FERC is
unknown, it remains questionable whether or not HSbert's adamant stand
against price caps will be sufficient to keep the commission from moving in
this direction. HSbert's hard line against price caps was espoused during the
same week that the FERC chairman appeared at a Santa Fe, N.M. conference and
spoke about high wholesale prices in California and the fact that the state's
utilities could have saved about $5 billion had they accepted proposals for
long-term contracts six months ago.
First, let's look at how the structure of FERC is presently changing and how
this might impact the commission's divided position on price caps. On March
27, President Bush announced his intention to nominate state utility
officials Nora Mead Brownell of Pennsylvania and Patrick Wood III of Texas to
serve on FERC. Word on the nomination of Wood was expected, although rumors
had indicated that Wood might be named to replace HSbert as chairman.
Brownell, a commissioner with the Pennsylvania Public Utility Commission,
will be appointed to the remainder of a five-year term that expires June 30
of this year and an additional term expiring in 2006. Wood, who formerly
served on FERC from 1991 to 1993, will be appointed to the remainder of a
five-year term that expires in 2005.
As I mentioned in the 3/21 IssueAlert, the FERC is presently divided on the
issue of price caps. Obviously, HSbert has expressed strong opposition to any
kind of restriction on pricing. However, Commissioner William Massey has said
that he will continue to push for price caps to help calm the volatility of
the California market. Linda Key Breathitt, the third commissioner presently
at FERC, has remained undecided on the issue. What could change the balance
of power at FERC with the two new appointments is the fact that both Brownell
and Wood come from states in which some form of wholesale price caps are
presently in place.
Consequently, there is a real possibility that HSbert, despite his role as
chairman, could soon find himself in the minority position with regard to the
price cap issue. HSbert seems unconcerned about this possibility and has made
reference to "like-minded friends" in Washington who would side with him on
the issue.
The rationale behind HSbert's opposition to price caps has been well
documented. The FERC chairman has not been fully convinced that price caps
would do anything to increase supply or reduce demand in the Western region,
or anywhere else for that matter. Rather, HSbert believes that price caps
have the potential to cause serious damage and actually cause supply to
decrease further as power generators will opt to build plants in other
regions that do not place restrictions on prices.
The fact that HSbert opposes price caps but yet supports FERC's investigation
into the "unjust and unreasonable" prices charged by power suppliers may seem
like somewhat of a contradiction to some observers. Earlier this month, FERC
put 13 California power sellers on notice that they must either make refunds
for certain power sales or provide further justification of their prices.
Total potential refunds or offsets in the ISO and PX markets are
approximately $69 million for January 2001 transactions. Further, FERC
established a price screen of $273/MWh that would be justified during periods
of a Stage 3 alert, and that anything above this price would be considered
excessive. In addition, the commission will determine a top wholesale power
price for each month through April, and then formulate a permanent plan for
monitoring prices in California for transactions taking place after May 1.
FERC is utilizing a methodology to determine the price screen, and scarcity
pricing is a very important factor in the equation. The commission uses a
model that takes different factors into account (for instance, weighted gas,
weighted NOX, etc.) to determine a price of electricity when the lights are
about to go out (Stage 3 alert time). That is the price that FERC uses to
determine scarcity prices. Therefore, it can and will change month to month.
One may wonder how HSbert can reconcile the use of a market price screen and
yet remain so opposed to price caps. However, it is important to realize
that, for the most part, FERC is not prohibiting that power generators sell
power above the price screen. Rather, FERC will simply demand that any
company selling power above this price report to the commission and justify
the higher-than-average price. That is an important but subtle difference
between a price screen and a price cap, which prohibits generators from
exceeding a certain price.
As noted, HSbert spoke earlier this week at a conference in Santa Fe entitled
"Current Issues Challenging the Utility Industry" sponsored by the Center for
Public Utilities. HSbert spoke about a variety of topics, including the
current status of RTO applications and new technologies related to pipelines
and generation. However, one thing that HSbert said related to the wholesale
market in California struck me as particularly interesting. HSbert said that
last fall wholesale power suppliers offered California utilities long-term
power contracts in the range of $55/MWh. The general consensus among the
utilities and Gov. Gray Davis was that the price was excessive and that they
should wait to sign long-term deals until wholesale prices decreased (or
until the state could negotiate lower prices on behalf of the utilities).
HSbert's point was that California utilities could have saved approximately
$5 billion had they signed on for long-term deals at that time. Most of the
contracts that the California Department of Water Resources is now signing
with power suppliers are confidential and thus we do not know how the fixed
prices of the contracts compare to the average $55/MWh that was offered last
fall. However, most reports indicate that the state of California already has
spent $4 billion to procure power and is expected to pay $14 billion for
power over the course of this year.
Meanwhile, California and other western lawmakers continue to urge the Bush
administration and FERC to enact temporary price caps in the West. In fact,
bipartisan lawmakers from California, Oregon and Washington met with Vice
President Dick Cheney, head of the Bush administration's energy task force,
to assert that soaring electricity prices in the West could lead the entire
country into a recession. Cheney responded that the White House opposes any
price controls on energy as they would discourage new power plants from being
built.
At the Santa Fe conference HSbert said that, "Washington doesn't do temporary
very well." What he meant by this statement was that, although lawmakers are
putting pressure on the federal government to put a temporary price cap into
place, if one were to be enacted it would most likely remain in place for
some time. Clearly, HSbert will continue to oppose wholesale price caps in
the West (unless someone can make the case to him that price restrictions
will lower demand or increase supply). Yet, at the same time, just this week
HSbert said that he was "open" to a request from New York City Mayor Rudolph
Giuliani to enact wholesale power prices in the Northeast. Giuliani asked
FERC to impose a temporary $250/MWh cap on wholesale electricity prices to
ensure that New York City gets through tight summer power supplies without
large price spikes. How FERC as a whole will rule on the larger issue of
price caps across the country (and particularly in California) once the new
commissioners come on board remains to be seen. In any event, FERC (along
with state regulators) still faces the challenge of finding some long-term
solution that will stabilize the market in California and the Pacific
Northwest.
An archive list of previous IssueAlerts is available at
www.ConsultRCI.com
Reach thousands of utility analysts and decision makers every day. Your
company can schedule a sponsorship of IssueAlert by contacting Nancy Spring
via e-mail or calling (505)244-7613. Advertising opportunities are also
available on our website.
SCIENTECH is pleased to provide you with your free, daily IssueAlert. Let us
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If you no longer wish to receive this daily email, send a message to
IssueAlert, and include the word "delete" in the subject line.
SCIENTECH's IssueAlerts(SM) are compiled based on the independent analysis
of SCIENTECH consultants. The opinions expressed in SCIENTECH's IssueAlerts
are not intended to predict financial performance of companies discussed, or
to be the basis for investment decisions of any kind. SCIENTECH's sole
purpose in publishing its IssueAlerts is to offer an independent perspective
regarding the key events occurring in the energy industry, based on its
long-standing reputation as an expert on energy issues.
Copyright 2001. SCIENTECH, Inc. All rights reserved.
|
||
jones-t/all_documents/12282.
|
29354392.1075847391536.JavaMail.evans@thyme
|
Mon, 4 Jun 2001 04:57:00 -0700 (PDT)
|
Product type approval needed (US Crude WTI Fin Spd) Please approve the following new product type in Data Manager after 11 A.M.
US Crude WTI Fin Spd
(Please note that this product type will replace the existing US Crude WTI
Cal Spd Fin Swap)
STEPS FOR APPROVAL:
click the START button
select PROGRAMS
select TEST APPLICATIONS
select ENRONONLINE CLUSTER(PROD)
PROCEED WITH USUAL LOGIN/PASSWORD
click the Enron Online Production Cluster "START" button
select EnronOnLine (this is the EOL Datamanager)
PROCEED WITH EOL LOGIN/PASSWORD
click on the "+" for EnronOnLine
click on the "+" for Product Types
click on the "+" for "Awaiting Approval" (OR "Partially Approved")
select the product requiring review as stated in e-mail above
Right "mouse" click on "properties" to view product set-up
TO APPROVE: Right mouse click on "Approved"
|
||
germany-c/discussion_threads/1536.
|
11368664.1075853766467.JavaMail.evans@thyme
|
Fri, 28 Jul 2000 01:02:00 -0700 (PDT)
|
Bored Meeting ---------------------- Forwarded by Chris Germany/HOU/ECT on 07/28/2000 08:02
AM ---------------------------
"Immer, Ingrid" <[email protected]> on 07/27/2000 01:23:16 PM
To: "'[email protected]'" <[email protected]>
cc:
Subject: Bored Meeting
This one's cute.??? ii
<<BORED MEETING.EXE>>
- BORED MEETING.EXE
|
||
germany-c/personal/33.
|
21556199.1075848291281.JavaMail.evans@thyme
|
Fri, 22 Dec 2000 07:40:00 -0800 (PST)
|
Taco Bell Hey Chris,
Just wanted to thank you again for the taco bell dog. That was very sweet of
you.
Hope your holidays went well.
See you later.
Maria
|
||
guzman-m/notes_inbox/136.
|
25371345.1075840693191.JavaMail.evans@thyme
|
Tue, 24 Apr 2001 15:41:00 -0700 (PDT)
|
Start Date: 4/24/01; HourAhead hour: 23; <CODESITE> Start Date: 4/24/01; HourAhead hour: 23; No ancillary schedules awarded.
Variances detected.
Variances detected in Generation schedule.
Variances detected in SC Trades schedule.
Variances detected in Load schedule.
LOG MESSAGES:
PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001042423.txt
---- Generation Schedule ----
$$$ Variance found in table tblGEN_SCHEDULE.
Details: (Hour: 23 / Preferred: 0.00 / Final: 0.00)
TRANS_TYPE: FINAL
SC_ID: EES
MKT_TYPE: 2
TRANS_DATE: 4/24/01
UNIT_ID: BADLND_7_PL1X2
---- SC Trades Schedule ----
$$$ Variance found in table tblInt_Interchange.
Details: (Hour: 23 / Preferred: -525.00 / Final: -522.24)
TRANS_TYPE: FINAL
SC_ID: EPMI
MKT_TYPE: 2
TRANS_DATE: 4/24/01
TRADING_SC: NES1
PNT_OF_INTRC: SP15
SCHED_TYPE: ENGY
PURCH_SALE: 1
DEAL_NO: 1
---- Load Schedule ----
$$$ Variance found in table tblLoads.
Details: (Hour: 23 / Preferred: 5.37 / Final: 4.63)
TRANS_TYPE: FINAL
LOAD_ID: PGE2
MKT_TYPE: 2
TRANS_DATE: 4/24/01
SC_ID: EPMI
$$$ Variance found in table tblLoads.
Details: (Hour: 23 / Preferred: 48.96 / Final: 46.36)
TRANS_TYPE: FINAL
LOAD_ID: PGE3
MKT_TYPE: 2
TRANS_DATE: 4/24/01
SC_ID: EPMI
|
||
dasovich-j/all_documents/28880.
|
6881226.1075849328100.JavaMail.evans@thyme
|
Wed, 18 Jul 2001 03:45:00 -0700 (PDT)
|
Fw: Another Calpine Travesty ----- Original Message -----
From: "Bill Marcus" <[email protected]>
To: "V. John White (E-mail)" <[email protected]>; "Mike Florio (E-mail)"
<[email protected]>; "Bob Finkelstein (E-mail)" <[email protected]>;
"Sara Myers (E-mail)" <[email protected]>; "Jim Caldwell (E-mail)"
<[email protected]>; "Robert McCullough (E-mail)" <[email protected]>;
"Theresa Mueller (E-mail)" <[email protected]>; "Lenny Goldberg
(E-mail)" <[email protected]>
Sent: Tuesday, July 17, 2001 1:25 PM
Subject: Another Calpine Travesty
> Calpine submitted an AFC on July 6th to build a 180 MW powerplant for US
> Data Port (a big server farm operation) in San Jose. So far, so good.
The
> problem is that Calpine has signed a contract with DWR (which we have not
> yet seen to get paid $158/MWh for declining amounts of power from the
summer
> of 2002 thru April, 2005, as the server farm grows.
>
> Power's going for nothing, and they'er buying more at 16 cents per kWh
> through 2005. Who are these guys? Are they trying to bankrupt
ratepayers?
>
> I think we ought to gin up a consumer/enviro intervention at the CEC to
> permit the project to proceed only under the condition that this DWR
> contract is reformed or junked.
>
> Bill
>
>
>
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farmer-d/sent/138.
|
23196141.1075854152478.JavaMail.evans@thyme
|
Wed, 13 Sep 2000 07:53:00 -0700 (PDT)
|
contract expirations Julie,
In Sitara, the following purchases expire with no evergreen flag. Please let
me know if this is correct for these contracts.
Deal 138094 - ERAC expires 10/31/00
Deal 113858 - Teco Gas Processing expires 12/31/00
D
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jones-t/all_documents/10712.
|
19180312.1075847341765.JavaMail.evans@thyme
|
Mon, 2 Apr 2001 12:04:00 -0700 (PDT)
|
Legal Name Correction CP ID From To
94963 Gulf Coast Fibers, Inc. Gulf Coast Fibres, Inc.
|
||
guzman-m/discussion_threads/298.
|
17640688.1075840644002.JavaMail.evans@thyme
|
Fri, 24 Nov 2000 04:50:00 -0800 (PST)
|
Re: bowlgame You have been subscribed to bowlgame with the email address
"[email protected]"
To unsubscribe, send a blank email to
[email protected]
|
||
kaminski-v/c/mangmt/group/management/334.
|
10043499.1075856580346.JavaMail.evans@thyme
|
Mon, 21 Aug 2000 05:58:00 -0700 (PDT)
|
Re: Vikas Dwivedi Shelly,
I shall not accept anybody for a rotation without a prior interview.
Li was scheduled to meet with me last Thursday but she never showed
up. She did not call to cancel or to apologize for not showing up.
I have not seen her resume.
Please, assume she is not rotating into my group till further notice.
Vince
From: Shelly Butler 08/18/2000 03:37 PM
To: Jeffrey A Shankman/HOU/ECT@ECT
cc: Hunter S Shively/HOU/ECT@ECT, John J Lavorato/Corp/Enron@Enron, Vince J
Kaminski/HOU/ECT@ECT, Craig Breslau/HOU/ECT@ECT, Ina Rangel/HOU/ECT@ECT
Subject: Vikas Dwivedi
Jeff,
Just wanted to confirm that Li will be placed in Vince Kaminski's group.
Vikas has been placed in ENA Middle Market reporting to Craig Breslau.
Please contact me at 3-4584 if you have any questions. Thanks for your help!!
Shelly
From: Jeffrey A Shankman 08/18/2000 03:18 PM
To: Shelly Butler/HOU/ECT@ECT
cc: Hunter S Shively/HOU/ECT@ECT, John J Lavorato/Corp/Enron@Enron
Subject:
Shelly,
Hunter spoke with Li today and agrees that her first rotation should be in
Vince's group doing modelling, etc. This will give her the broadest
experience for a first rotation. I'm sure the other person in question,
Vikas, will do very well in Hunter's group.
Thanks for your help.
Jeff
|
||
beck-s/discussion_threads/1362.
|
15648170.1075855840542.JavaMail.evans@thyme
|
Wed, 19 Jul 2000 01:56:00 -0700 (PDT)
|
Emily's First Pictures Just so you can see where my paycheck now goes. What a great way to spend
money!
djs
Here are some pictures from the first roll of film - Emily was about 5 or 6
days old. She brings me joy I never thought possible. And I'm sure some day
she'll bring me some pain, but I'm not thinking about that right now. I
didn't know how easy it was to fall in love. I am a different person
(better) because of her.
Yesterday, we made our first trip to the pediatrician and he said that she
was doing fine. She gained 7 ounces! She's quite a good little eater. We
are settling into a routine and she sleeps about 4 hours at a time so it
gives me time to get a fair amount of rest. We'll probably make a trip down
to the EB in a few weeks and I'll be sure to let you know exactly when. I
hope you all are doing well -- stay in touch. Here's the pictures.....(by
the way, the blonde at the hospital with me is my youngest sister, Kerri)
|
||
fischer-m/notes_inbox/39.
|
5857945.1075840460434.JavaMail.evans@thyme
|
Thu, 4 Jul 2002 03:17:00 -0700 (PDT)
|
Do Not Download or Install Software to your Machines In accordance with the GE Power Systems Information Security Manual and
Security Procedure Guide (a copy can be found on the Transfer directory under
GEPS Information Security Manual), users are not allowed to download or
install software that is not authorized by GEPS management. This includes,
but is not limited to, Web Shots, Real Player, Spinner, WinAmp, Games, Post
It Notes, Bonzi Buddy, Napster, Morpheus, or Limewire. Additionally, users
are not allowed to bring in software from home and install it on their work
computers.
Please take a little time and read through the Guide. GE has strict policies
and procedures regarding the use of GE owned equipment, and they monitor
every machine on the network. If you have any questions about what can or
can not be loaded on your machine, please send me an e-mail.
Thanks.
--D
|
||
jones-t/notes_inbox/3443.
|
17754629.1075847410590.JavaMail.evans@thyme
|
Fri, 9 Mar 2001 00:05:00 -0800 (PST)
|
Innovative Purchase and Payment tool coming your way! I am excited to announce a major initiative called iBuyit, a new online
purchase and payment tool. Each of you will be able to use iBuyit to order
or approve purchases from pens to pipe and cable to computers. Our Global
Strategic Sourcing (GSS) and Global Accounting groups have teamed up with
each of your Business Units to build a tool designed to meet your specific
needs.
Special iBuyit features include:
? An eCatalog to help you quickly find the items you need
? Shopping baskets to store your purchases
? Simple recurring purchases
? Automatic routing of invoices for coding and approval
iBuyit will be implemented in stages across ETS, EBS, EES, EWS, Corporate and
Europe during 2001.
Over the next few months, you will be hearing more about iBuyit from your
business unit leadership, including what it can do for you and when you can
expect to use it.
|
||
haedicke-m/all_documents/5092.
|
23190221.1075859803360.JavaMail.evans@thyme
|
Mon, 7 May 2001 01:30:00 -0700 (PDT)
|
RE: Brazilian Arbitration Act What will Jim Rowles do for work now?
-----Original Message-----
From: Arap, Sami
Sent: Friday, May 04, 2001 6:18 PM
To: Robert C Williams/ENRON_DEVELOPMENT@ENRON; Blaine, Michelle; Haedicke,
Mark; Novak, John; Walls Jr., Rob; Schwartzenburg, John; Watanabe, Luiz;
Ozorio, Celina; Azevedo, Karla
Subject: Brazilian Arbitration Act
Importance: High
Please be advised that, on May 3, 2001, the Federal Supreme Court finally
decided that the Brazilian Arbitration Act does not violate the Brazilian
Constitution.
|
||
dasovich-j/all_documents/11522.
|
27124122.1075843441470.JavaMail.evans@thyme
|
Tue, 24 Apr 2001 10:36:00 -0700 (PDT)
|
FW: Nondisclosure agreement This is the sample non-disclosure agreement which the ALJ provided today for
use with respect to our forecast material.
-----Original Message-----
From: McKenzie, A. Kirk [mailto:[email protected]]
Sent: Tuesday, April 24, 2001 4:50 PM
To: '[email protected]'; '[email protected]';
'[email protected]'; '[email protected]';
'[email protected]'
Subject: Nondisclosure agreement used in R.93-04-003 et al.
<<OANAD- protective order of Pacific 12_22_00 .doc>> Parties, per your
request, here is the electronic version of the nondisclosure agreement that
was used in the OANAD proceeding. ALJ Kirk McKenzie.
- OANAD- protective order of Pacific 12_22_00 .doc
|
||
kean-s/archiving/untitled/1076.
|
4859837.1075846237188.JavaMail.evans@thyme
|
Fri, 1 Sep 2000 00:55:00 -0700 (PDT)
|
Senate passes Alper/Davis Bill 30-0 ---------------------- Forwarded by Steven J Kean/NA/Enron on 09/01/2000
07:55 AM ---------------------------
Mona L Petrochko@EES
08/29/2000 04:38 PM
To: Douglas Condon/SFO/EES@EES, Martin Wenzel/SFO/HOU/EES@EES, James M
Wood/HOU/EES@EES, Dennis Benevides/HOU/EES@EES, Greg Cordell, Roger Yang,
Edward Hamb/HOU/EES@EES, Peggy Mahoney/HOU/EES@EES, Karen Denne@Enron, Mark
Palmer/Corp/Enron@ENRON
cc: James D Steffes/HOU/EES@EES, West GA, Richard Shapiro/HOU/EES@EES, Steven
J Kean/NA/Enron@Enron, Mary Hain@Enron
Subject: Senate passes Alper/Davis Bill 30-0
AB 265 passed through the Senate a few minutes ago. It now must go to the
Assembly, where there is still a lot of uncertainty about what changes the
Assembly will want to the bill. We still haven't seen the latest
"republican" language.
Also, AB 265 is double joined to AB 970, controversial siting bill. To the
extent one or the other fails, they both fail.
AB 265 (Davis/Alpert) has:
1. a 6.5 cent/kWh energy rate cap through 2002, with potential extension
through 2003.
2. Applicable to residential, small commercial (up to 100 kW)
3. Opt-in provision for large industrial/agricultural customers at 6.5 cents
with an annual true-up
4. Use of revenues from utility generation assets (including PPA) to offset
undercollections.
5. Reasonableness review for San Diego G&E
Will update with more information as available.
No news about SCE.
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dasovich-j/sent_items/21.
|
30624466.1075851608841.JavaMail.evans@thyme
|
Fri, 7 Sep 2001 05:34:12 -0700 (PDT)
|
Real Estate Finance Greetings. You taking the course? It looks very good to me and I've added it. If you're taking it, could you let me know what the assignment is for Tuesday? I'm on vacation, and the course hasn't yet been added to my Izio account.
Best,
Jeff
-----Original Message-----
From: Joseph Tambornino [mailto:[email protected]]
Sent: Thursday, August 30, 2001 1:49 PM
To: [email protected]
Subject: Student Advisory Committee
Greetings, Comrades, and welcome back (for two thirds
of you, and for you first years: don't forget to
breathe).
I am compelled (Diane Dimeff stands behind me with a
Louisville Slugger slapping menacingly against one
palm) to tell you that Haas has a Complaint
Department, namely the Student Advisory Committee
(SAC).
The SAC is a formalized conduit for presenting the
School Administration with your thoughts, suggestions,
responses, recommendations, kisses and hugs of
appreciation as well as rants and rodomontades of
angry frustration on any subject with respect to your
experience at Haas. We do this by means of the
Student Survey (more on this later), our distinguished
teacher awards (more on this later, too) and by
listening to you when all others have grown weary of
your whining.
The Committee currently consists of the following
students (we are looking for a couple of
representatives from among the first years, but more
on this later, as you probably suspected):
Eric Jordan, [email protected]
Lesley Keffer, keffer@haas...
Sujan Punyamur, punyanur@haas...
Deepika Shah, dshah@haas...
Joseph Tambornino (me), Chairman, tamborni@haas...
Feel free to flag any of us down (especially Deepika
since she's the easiest to talk to) if you have a
gripe, a brainstorm, or a question about Haas that
Diane and her team have not already triaged for you.
(Be forewarned, however: we will not reveal the secret
formula to Berk's Finance case.)
Best wishes in reacclimating yourself to school. (At
least it gives you something to do if the dotcom bust
has left you "downsized," "rightsized," "laid off" or
otherwise dumped by your old employer. Heck, who
needs them anyway? Go start your own digital
revolution.)
JT
=====
Joseph Tambornino
Vice President
Hall Equities Group
(925) 933-4000
__________________________________________________
Do You Yahoo!?
Get email alerts & NEW webcam video instant messaging with Yahoo! Messenger
http://im.yahoo.com
|
||
germany-c/deleted_items/132.
|
31229169.1075845145914.JavaMail.evans@thyme
|
Thu, 7 Jun 2001 10:40:13 -0700 (PDT)
|
test
From Chris Germany
|
||
campbell-l/inbox/629.
|
32578689.1075852932723.JavaMail.evans@thyme
|
Sun, 28 Oct 2001 09:48:00 -0800 (PST)
|
Pre-order your Shrek(TM) gift set and purchase last minute .name { FONT-WEIGHT: bold; FONT-SIZE: 14pt; COLOR: #000000; LINE-HEIGHT: n=
ormal; FONT-STYLE: normal; FONT-FAMILY: Arial; TEXT-DECORATION: none} .let=
ter { FONT-WEIGHT: normal; FONT-SIZE: 9pt; COLOR: #000000; LINE-HEIGHT: no=
rmal; FONT-STYLE: normal; FONT-FAMILY: Arial; TEXT-DECORATION: none} .linke=
d { FONT-WEIGHT: normal; FONT-SIZE: 9pt; COLOR: #0000cc; LINE-HEIGHT: norm=
al; FONT-STYLE: normal; FONT-FAMILY: Arial; TEXT-DECORATION: underline} .te=
xt { FONT-WEIGHT: normal; FONT-SIZE: 10pt; COLOR: #000000; LINE-HEIGHT: no=
rmal; FONT-STYLE: normal; FONT-FAMILY: Arial; TEXT-DECORATION: none} .lette=
rbold { FONT-WEIGHT: bold; FONT-SIZE: 9pt; COLOR: #000000; LINE-HEIGHT: no=
rmal; FONT-STYLE: normal; FONT-FAMILY: Arial; TEXT-DECORATION: none} .exclu=
sive { FONT-WEIGHT: bold; FONT-SIZE: 9pt; COLOR: #ff0000; LINE-HEIGHT: nor=
mal; FONT-STYLE: normal; FONT-FAMILY: Arial; TEXT-DECORATION: none} .header=
{ font-family:arial,helvetica; font-size:12px; font-weight:bold; color:ff=
ffff;} A:visited {text-decoration: underline; FONT-WEIGHT: bold;} A:hover {=
text-decoration:underline; color:cc0099;} .line {color:ffffff;} .disclaimer=
{ font-family:arial,helvetica; font-size:10px; color:000000} .letter03 { f=
ont-family: Arial, Helvetica, sans-serif; font-size: 9pt; font-style: itali=
c; line-height: normal; font-weight: normal; color: #000000; text-decoratio=
n: none} .footer { font-family: Arial; font-size: 9pt; font-style: normal;=
line-height: normal; font-weight: normal; color: #FFFFFF; text-decoration:=
none} =09
[IMAGE] [IMAGE] =09
[IMAGE] Bear in a Pumpkin Sweaterwith Candy Corn Dear Larry, =
Halloween is only two days away! If you think you don't have a ghost of a =
chance to still find Halloween gifts, then take a look at our Halloween C=
ollection . We have bears dressed in costumes, sweets, gourmet goodies, de=
corations for the home and Halloween arrangements for your favorite ghosts=
and goblins. Don't scream! You can still be the hit of Halloween! And w=
ith holiday shopping on the horizon, look no further for this year's hotte=
st gift! You can pre-order the blockbuster hit movie Shrek? on DVD or VHS =
and avoid getting shut out when it starts flying off the shelves. It come=
s with a cuddly plush buddy of your choice - either Shrek? or his faithful=
sidekick Donkey. Pre-order the Shrek? Movie and Plush Gift Set today an=
d schedule delivery beginning November 2. From your friends at 1-800-FLOW=
ERS.COM
Call 1-800-FLOWERS
(1-800-356-9377), Click (www.1800flowers.com) or Come in! AOL Keyword: 18=
00flowers Offer valid through 11/1/01. Shrek TM & (c) 2001 DreamWorks LLC=
. All Rights Reserved. This email was sent to [email protected] =09
Bear in a Devil Suit with Red Hots [IMAGE] [IMAGE] [IMAGE] =
Bear in a Devil Suitwith Red Hots Shrek? Movieand Plush Gift Set Frig=
hts and Flowers? Fields of Europe? Fall =09
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Register Now | Personalized Greetings | Gift Certificates | Member =
Benefits | Gift Finder Remove Me | Contact Us | Security & Priv=
acy | Disclaimer* | Store Locator =09
|
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baughman-d/power/legal_agreements/25.
|
14240338.1075848341058.JavaMail.evans@thyme
|
Fri, 2 Mar 2001 06:25:00 -0800 (PST)
|
Power Contracts We have received the executed EEI Master Power Purchase and Sale Agreements
for the following CPs:
Sierra Power Corporation 2/28/2001
The City of Oakland, a municipal corporation acting by and through its Board
of Port Commissioners-2/27/2001
Copies will be given to Legal and Credit.
|
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forney-j/sent_items/253.
|
29498520.1075852394521.JavaMail.evans@thyme
|
Thu, 5 Jul 2001 06:23:54 -0700 (PDT)
|
RE: WHAT UP Bobby,
I came really, really close to coming back to Portland. I was recently asked to help get the Ercot (TEXAS) region off of the ground by organizing, training and motivating the Real Time group. I declined initially, as I had previously turned this job down from Portland. I came to Houston to trade cash. Bait and Switch.
Anyway, I was looking to return to PDX to work in Mid Mkt or Services, wherever I could have an impact (positive impact, jackie).
Once I expressed to Houston that my bags were packed, more opportunity presented itself; I am going to get experience in managing our assets in Texas. We have an agreement with Teco to manage a 480 mw combined cycle facility in South Texas. We have some other interesting arrangements as well.
I will be working with Doug Gilbert-Smith, who is the term trader in Ercot. Good, solid technical guy. These guys are in a tight spot and due to the timing of all of this, I agreed to finish the rest of the year in Houston and get this thing up and running. Ercot is currently not short nor volatile. Not much fun yet, we'll see how the pool works.
I am working with Smith and Jeff Miller as well.
For all of its sound, fury and ego's the Houston office is actually disorganized and short on morale.
My transition could have been handled better by a monkey man. My gut tells me that if I stay with the company, I will be moving back to Portland early next year if they will have me.
Let me know when you will be in town and I'll set up some golf and margaritas. No boat anymore, I'm bumming a ride with my friends.
Later,
JMF
-----Original Message-----
From: Badeer, Robert
Sent: Tuesday, June 19, 2001 9:32 AM
To: Forney, John M.
Subject: WHAT UP
what up?
|
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hayslett-r/inbox/117.
|
12815562.1075862289378.JavaMail.evans@thyme
|
Thu, 8 Nov 2001 08:25:07 -0800 (PST)
|
RE: ETSC financial statements we need to provide Andersen:
signed legal letters from V&E and the Special Committee (Rogers and Butts)
a legal perspective on backdrafts (Fossum)
a copy of the bank letter regarding material adverse changes (Howard)
signed management re letter (signees to be determined)
footnote cleanup (Saunders, et al)
-----Original Message-----
From: Howard, Kevin A.
Sent: Thursday, November 08, 2001 9:58 AM
To: Saunders, James
Cc: Walden, Clint
Subject: RE: ETSC financial statements
we are scheduled to close on Friday but more likely over weekend and fund Tuesday of next week. Any help I can give you with AA, just let me know. What are we still waiting on from them?
Kevin
-----Original Message-----
From: Saunders, James
Sent: Thursday, November 08, 2001 9:56 AM
To: Howard, Kevin A.
Subject: RE: ETSC financial statements
side question...when is the formal NNG and TW debt financing going to close.
we still have yet to finish Andersen review activities
|
||
dorland-c/discussion_threads/72.
|
15256034.1075857307500.JavaMail.evans@thyme
|
Thu, 6 Apr 2000 08:24:00 -0700 (PDT)
|
Dad,
I really think you should think about getting in on this 360 networks deal.
Even if only a small piece.
I would take a piece.
Talk to you about it on the weekend.
Chris
|
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hain-m/all_documents/981.
|
22622081.1075860372617.JavaMail.evans@thyme
|
Mon, 26 Feb 2001 02:24:00 -0800 (PST)
|
Supreme Court Action on FERC preemption of State jurisdiction over FYI - In case you haven't seen this.
---------------------- Forwarded by Mary Hain/HOU/ECT on 02/26/2001 10:06 AM
---------------------------
Enron Capital & Trade Resources Corp.
From: "Ronald Carroll" <[email protected]>
02/26/2001 09:35 AM
To: <[email protected]>, <[email protected]>,
<[email protected]>, <[email protected]>, <[email protected]>,
<[email protected]>
cc:
Subject: Fwd: Supreme Court Action in FERC Cases
In case you haven't heard, the Supreme Court has granted cert of our and the
state of New York's cert petitions on the extent of FERC's jurisdiction over
transmission facilities.
Date: Mon, 26 Feb 2001 11:18:06 -0600
From: "Jeffrey Watkiss" <[email protected]>
Subject: Fwd: Supreme Court Action in FERC Cases
Mime-Version: 1.0
Content-Type: multipart/mixed; boundary="=_570CFA0B.E081E8A6"
Attached is Lou Cohen's (of Wilmer Cutler) write up of the Supreme Court's
grant of two petitions for certiorari in the appeals of FERC's Order No. 888
on transmission open access. While too much should never be read into a
grant of certiorari, this seems to be auspicious for Enron and to validate
Joe's conclusion that it would be imprudent for Enron to rest on its victory
in the court of appeals and not oppose proactively New York, et al. who are
asking the Court to expand the native load exception. It should also be
noted that the broadside against FERC's authority to act (the Dalton cert.
petition), which Enron took the lead in opposing, was rejected outright.
Enron's brief is due in 45 days. Joe and I shall meet with Lou early next
week to get this process started. Please call me if you have any questions.
Received: from mcafee.bracepatt.com by bracepatt.com; Mon, 26 Feb 2001
10:39:07 -0600
Received: FROM dcex3.wilmer.com BY mcafee.bracepatt.com ; Mon Feb 26 10:47:51
2001 -0600
X-Proxy: keymaster.bracepatt.com protected
Received: FROM dcex2.wilmer.com BY dcex3.wilmer.com ; Mon Feb 26 11:35:17
2001 -0500
Received: by dcex2.wilmer.com with Internet Mail Service (5.5.2650.21) id
<15T7HGFJ>; Mon, 26 Feb 2001 11:35:17 -0500
Message-ID: <[email protected]>
From: "Cohen, Louis" <[email protected]>
To: "Joe Hartsoe (E-mail)" <[email protected]>
Cc: "Jeffrey D. (Dan) Watkiss (E-mail)" <[email protected]>, "Killory,
Ted" <[email protected]>, "Palansky, IJay" <[email protected]>,
"Plotnick, Michael" <[email protected]>, "Cohen, Louis"
<[email protected]>
Subject: Supreme Court Action in FERC Cases
Date: Mon, 26 Feb 2001 11:35:04 -0500
MIME-Version: 1.0
X-Mailer: Internet Mail Service (5.5.2650.21)
Content-Type: multipart/alternative;
boundary="----_=_NextPart_001_01C0A012.1A1432F0"
Here is a summary.? I included the cites just in case.? Let me know if you
need more.
?
The Supreme Court today granted two petitions for certiorari to review the
D.C. Circuit's decision in Transmission Access Policy Study Group v. FERC,
225 F.3d 667 (2000).? The Court granted the petition of New York and other
states (New York?v. FERC, No. 00-568)) to consider?whether FERC may preempt
state jurisdiction over transmission of energy from generators to retail
customers in the same state.? (The Court declined other questions?New
York?had raised.)? The Court also granted the petition of Enron Power
Marketing, Inc. (EPMI v. FERC, No. 00-809) to consider whether FERC has
jurisdiction to regulate all transmission in interstate commerce, including
transmission for bundled retail sales, and whether FERC is obligated under
the Federal Power Act to eliminate undue discrimination by requiring
transmission-owning utilities to provide service on the same terms to all
users, including bundled retail sales.? The cases will be argued together,
probably not before October 2001.
|
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cuilla-m/deleted_items/140.
|
19994056.1075853089059.JavaMail.evans@thyme
|
Thu, 25 Oct 2001 01:57:57 -0700 (PDT)
|
FRIDAY ITS PURE CHICAGO @ HYPERIA HYPERIA=20
http://www.clubhyperia.com=20
PURE CHICAGO @ HYPERIA OCTOBER 26th=20
John Acquaviva=20
PURE ON TOUR - Definitive Rec - Canada=20
&
John Curley=20
PURE - Chicago=20
----------------------=20
Planes, trains, and/or automobiles One way or another John Acquaviva is alw=
ays on the go and off to the next club or party. Despite having DJ?ed full =
time since 1980, appearing at over 600 international clubs and events, havi=
ng played for about half a million people, he is still as busy as ever and =
in demand like never before. Certainly one of the most eclectic DJ's around=
at the club and festival level, John is well known for his vast record col=
lection of over 40,000 pieces of vinyl. Spanning a rather significant perio=
d of club music and 12" culture, sometimes even still "dropping" a classic =
or old track along with the new. He is one of the very few DJ's who can enh=
ance a room as well as appeal to a number of different crowds on different =
levels which explains his high demand. John began his international career =
in 1989 with Richie Hawtin by founding the world renown Plus 8 Records. Joh=
n and Richie not only launched their own careers but also those of Dan Bell=
as the trio Cybersonik, Kenny Larkin, and Speedy J to mention just a few o=
f the artists. They have also founded Defintive records to feature house mu=
sic and artists launching the likes of Robotman, Barada, Omegaman and other=
s. Although noted mostly for his DJ?ing, John was actively involved as engi=
neer, producer and artist in the formative years and has compiled and exten=
sive and impressive discography. The last few years has seen a number of ch=
anges to the club and party scene. Evolving as ever, the international scen=
e has settled down with DJ's taking on club residencies. John was at the fo=
refront of this trend and over the last two years, not only has he played i=
n every inhabited continent excluding Africa, but you can also find him mon=
thly at Florida 135 in Barcelona Spain and the Twilo club in New York. Citi=
es that regularly appear on john?s itinerary every two to three months are:=
San Francisco USA (Nikita and Spundaes ), Montreal Canada (Sona ), Essen G=
ermany (Tanzhaus-ex Rote Liebe ), Dusseldorf Germany (Unique ). With this r=
egular performance base, the rest of the time is spent trying to fill reque=
sts from clubs primarily from Europe and now in North America as well as al=
l over the world. John has had a quiet but still excellent history for prod=
uction work. The most notable release of late is a DJ mix CD. "From Saturda=
y to Sunday mix" is his best mix CD to date and was done with the cooperati=
on of John's Spanish club where he is resident: Florida 135. It captures Jo=
hn over two sessions and is the best example of his mixing and DJ sound to =
date=20
_______________________________________________________________________
Powered by List Builder
To unsubscribe follow the link:
http://lb.bcentral.com/ex/manage/subscriberprefs?customerid=3D6913&subid=3D=
D7DF5E12DBF95EEA&msgnum=3D68
|
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jones-t/all_documents/12319.
|
5774141.1075847392676.JavaMail.evans@thyme
|
Tue, 5 Jun 2001 03:16:00 -0700 (PDT)
|
FW: Tanker Freight Approvals Tana/Kelly/Karen:
The product long descriptions below will fall under the new product type:
US Tanker Freight Swap
Credit (Tom Moran) has approved copying the profiles for the new product type
from the following:
US Crude WTI Fin Swap
Please respond no later than 10 a.m. on Wednesday, June 6.
Thank you.
-----Original Message-----
From: Moran, Tom
Sent: Tuesday, June 05, 2001 8:10 AM
To: Lees, Lisa; Sever, Stephanie
Cc: Lebrocq, Wendi
Subject: FW: Tanker Freight Approvals
Importance: High
Could you please copy the counterparty profiles from US Crude WTI Fin Swap
and use them for this new product.
Thanks!
tm
-----Original Message-----
From: Lozano, Melba
Sent: Monday, June 04, 2001 6:09 PM
To: Blumenthal, Jeff; Musch, Susan; Hagelmann, Bjorn; Moran, Tom
Cc: Hunter, Larry Joe; Lees, Lisa; Sever, Stephanie; Jones, Tana; Lambert,
Karen; Lombardi, Kelly; Sweitzer, Tara; Kenne, Dawn C.; Moorer, Torrey; Cass,
Robert B.; Meredith, Kevin; Walker, Chris; Gockerman, Matthew F.; Alatorre,
Carlos
Subject: Tanker Freight Approvals
Importance: High
Your review and approval of the following product type in the EOL Datamanager
is needed (for directions on approval , please see steps for approval at the
bottom of this e-mail). If you have any questions please call me at ext.
58986.
******** DO NOT APPROVE PRODUCT TYPES BETWEEN THE HOURS OF 6AM -
11AM***********
Trader: Joe King
==============================================================================
STEPS FOR APPROVAL:
click the START button
select PROGRAMS
select TEST APPLICATIONS
select ENRONONLINE CLUSTER(PROD)
PROCEED WITH USUAL LOGIN/PASSWORD
click the Enron Online Production Cluster "START" button
select EnronOnLine (this is the EOL Datamanager)
PROCEED WITH EOL LOGIN/PASSWORD
click on the "+" for EnronOnLine
click on the "+" for Product Types
click on the "+" for "Partially Approved"
select the product requiring review as stated in e-mail above
Right "mouse" click on "properties" to view product set-up
|
||
davis-d/fun/3.
|
4601772.1075853944503.JavaMail.evans@thyme
|
Fri, 3 Nov 2000 01:15:00 -0800 (PST)
|
Very, very funny... Open this and I will come down and see it
---------------------- Forwarded by Lola Willis/Corp/Enron on 11/03/2000
09:05 AM ---------------------------
"Mims, Valerie" <[email protected]> on 11/03/2000 08:28:00 AM
To: [email protected], [email protected]
cc:
Subject: Very, very funny...
Whatever option you choose.... wait for the response.
- Beer.EXE
|
||
giron-d/sent/78.
|
30677834.1075854394395.JavaMail.evans@thyme
|
Mon, 9 Apr 2001 03:28:00 -0700 (PDT)
|
Account Instead of sending $ in and pulling $ out every month, I am going to stop
sending $ into the CMA account starting this month. I actually have already
done this on the web. What I need you to do is to stop the monthly purchase
of APGCX for $340 begining this month. Also, any idea if I am going to
receive a 1099 for the recharacterization of the IRAs? I noticed online
that the Roths are now zero. Thanks.
DG
|
||
guzman-m/discussion_threads/1031.
|
12014124.1075840663699.JavaMail.evans@thyme
|
Mon, 5 Mar 2001 20:38:00 -0800 (PST)
|
Start Date: 3/6/01; HourAhead hour: 5; <CODESITE> Start Date: 3/6/01; HourAhead hour: 5; No ancillary schedules awarded.
Variances detected.
Variances detected in Generation schedule.
LOG MESSAGES:
PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001030605.txt
---- Generation Schedule ----
$$$ Variance found in table tblGEN_SCHEDULE.
Details: (Hour: 5 / Preferred: 1.00 / Final: 0.97)
TRANS_TYPE: FINAL
SC_ID: ECTstCA
MKT_TYPE: 2
TRANS_DATE: 3/6/01
UNIT_ID: BADLND_7_PL1X2
|
||
guzman-m/all_documents/1162.
|
27182262.1075840612248.JavaMail.evans@thyme
|
Sun, 18 Feb 2001 10:14:00 -0800 (PST)
|
Wheelabrator Please call the ISO when Wheelabrator returns to service. The phone number
they can be reached at is 916-351-2488.
Wheelabrator said they would call the real time desk as soon as it returns,
which should be this evening.
Regards,
Bert
|
||
kean-s/archiving/untitled/816.
|
10172178.1075846230424.JavaMail.evans@thyme
|
Fri, 6 Oct 2000 10:47:00 -0700 (PDT)
|
Auction Slides Understanding there won't be a call on Monday, here's a draft of the auction
slides that we've been working on for folks to review.
|
||
davis-d/discussion_threads/489.
|
29596029.1075853961427.JavaMail.evans@thyme
|
Tue, 13 Feb 2001 05:58:00 -0800 (PST)
|
Co. 072R 12/00 Journal Vouchers Do any of you have Co. 72R December Journal Vouchers? I am trying to help
Brian Dawson locate it.
Thanks for you help.
dd
|
||
hernandez-j/discussion_threads/479.
|
22504631.1075855535327.JavaMail.evans@thyme
|
Wed, 22 Nov 2000 00:35:00 -0800 (PST)
|
FW: Ice Cream for the Soul ---------------------- Forwarded by Maria Sandoval/HOU/ECT on 11/22/2000
08:34 AM ---------------------------
Yolanda Sandoval <[email protected]> on 11/22/2000 08:15:18 AM
To:
cc:
Subject: FW: Ice Cream for the Soul
Yolanda Sandoval
KBR Legal Dept.
*713-753-5986
*713-753-7626
* [email protected]
This email, including any attached files, may contain confidential and
privileged information for the sole use of the intended recipient(s). Any
review, use, distribution or disclosure by others is strictly prohibited.
If you are not the intended recipient (or authorized to receive information
for the recipient), please contact the sender by reply email and delete all
copies of this message. Thank you.
> Ice Cream for the Soul
> author unknown
>
> Last week I took my children to a restaurant. My six-year-old son asked if
> he could say grace. As we bowed our heads he said, "God is good. God is
> great. Thank you for the food, and I would even thank you more if Mom
> gets us ice cream for dessert. And Liberty and justice for all! Amen!"
>
> Along with the laughter from the other customers nearby, I heard a woman
> remark, "That's what's wrong with this country. Kids today don't even know
> how to pray. Asking God for ice-cream! Why, I never!"
>
> Hearing this, my son burst into tears and asked me, "Did I do it wrong? Is
> God mad at me?"
>
> As I held him and assured him that he had done a terrific job and God was
> certainly not mad at him, an elderly gentleman approached the table. He
> winked at my son and said, "I happen to know that God thought that was a
> great prayer."
>
> "Really?" my son asked.
>
> "Cross my heart." Then in theatrical whisper, he added (indicating the
> woman whose remark had started this whole thing), "Too bad she never asks
> God for ice cream. A little ice cream is good for the soul sometimes."
>
> Naturally, I bought my kid's ice cream at the end of the meal. My son
> stared at it for a moment and then did something I will remember the rest
> of my life. He picked up his sundae and, without a word, walked over and
> placed it in front of the woman. With a big smile he told her, "Here,
> this is for you. Ice cream is good for the soul sometimes and my soul is
> good already."
>
> The End
>
> I loved the story, and I hope you like it too.
>
> Please keep it moving.
>
> God Bless.
>
|
||
derrick-j/inbox/1.
|
3374693.1075845098859.JavaMail.evans@thyme
|
Thu, 12 Apr 2001 15:45:50 -0700 (PDT)
|
California Litigation Team Starting on Thursday, April 19, at 2:00 p.m. there will be a weekly telephone conference for the California litigation team. The objective will be to identify key issues and plan a coordinated strategy for all litigation in California. The call will last not more than one hour.
Thus far, the responsibility has been allocated as follows:
1. PG&E Bankruptcy Lisa Mellencamp and Carl Ecklund (LeBoeuf Lamb Greene & McRae)
2. Class Actions Richard Sanders and Robin Gibbs (Gibbs & Bruns)
3. CTC Matters Bob Williams, Mike Day and Gary Fergus (Brobeck)
4. FERC Matters Regulatory and Richard Sanders and Dan Watkiss (Bracewell & Patterson)
5. Government Investigations Regulatory and Richard Sanders
Richard Sanders and Robin Gibbs will have overall responsibility for coordination of the litigation.
|
||
davis-d/notes_inbox/20.
|
18966489.1075853945661.JavaMail.evans@thyme
|
Tue, 12 Dec 2000 03:02:00 -0800 (PST)
|
EMAZING Christian Quote of the Day - Prayer and Service =09=09EMAZING Home[IMAGE]Edit Your ProfilePrivacy
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||
guzman-m/all_documents/1641.
|
29836357.1075840625469.JavaMail.evans@thyme
|
Wed, 29 Nov 2000 01:19:00 -0800 (PST)
|
RE: Yo when am i getting my victory dinner. I figure I ought to hit you up now
before you get bac together with dave
|
||
fossum-d/_sent_mail/309.
|
32212077.1075842515148.JavaMail.evans@thyme
|
Fri, 16 Jun 2000 01:46:00 -0700 (PDT)
|
Pueblo pls print with attachments. thanks. df
---------------------- Forwarded by Drew Fossum/ET&S/Enron on 06/16/2000
08:42 AM ---------------------------
John M Rose@ENRON_DEVELOPMENT
06/15/2000 06:53 PM
To: Bill Gang@EES
cc: Bill Votaw@ECT, Jerry D Martin/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT,
Arnold L Eisenstein/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Steven Harris@ENRON,
Drew Fossum@ENRON, Lorraine Lindberg@ENRON, Stephen Thome@ECT
Subject: Pueblo
Bill,
Yesterday, we decided to look at two options for Pueblo; a 60 MW case and a
140 MW case. In order to match these outputs as closely as possible with
available equipment, I made the following selections:
Case 1
Equipment 3 X GE LM 2500 Gas Turbine Generators with Heat Recovery and 1
X 22 MW Steam Turbine Generator
Output at 95 deg F & 5000 ft 67 MW
Output at avg. conditions (60 deg F) 73.4 MW
Heat Rate at avg. conditions 8170 Btu/kWh (HHV)
Case 2
Equipment 3 X GE LM 6000 Gas Turbine Generators with Heat Recovery and 1
X 44 MW Steam Turbine Generator
Output at 95 deg F & 5000 ft 130 MW
Output at avg. conditions (60 deg F) 143.7 MW
Heat Rate at avg. conditions 7900 Btu/kWh (HHV)
There is a wide fluctuation in ambient temperature in Albuquerque and I sized
the blocks based on 95 deg F but used the annual average output at 60 deg F
for estimating power sales. I have attached files that show the build-up of
the estimated EPC price for the plants.
The required power prices are projected in a simple-minded economics file
attached. The projections are based on:
70% debt financing at 10% rate.
10-year project and debt life.
8500 hours per year at average output (97% capacity factor).
Gas at $4.40/MMBtu.
The results turn out pretty much as anticipated. Even with the larger plant,
we'd have to sell the power for over 6c/kWh.
|
||
kean-s/discussion_threads/941.
|
30921201.1075848094007.JavaMail.evans@thyme
|
Thu, 17 Aug 2000 08:26:00 -0700 (PDT)
|
Carlos Ibarguen A few months ago I interviewed on the phone Carlos Ibarguen for possible
opportunties at Enron. He is very impressive, was pursuing his Masters in
Public Administration from the London School of Economics, is bilingual, was
the Embassy Rep for Bolivia in Washington, DC and has consulting experience
in promoting private investments in Bolivia.
He is interested in working at Enron and I believe would be an excellent
candidate for us. Transredes in Bolivia has begun the interview process with
him as they are looking for someone to work in External Affairs.
Carlos completes his Masters 9/1 and will then return to Bolivia. He is
actively interviewing now and has one offer and is anticipating another.
His resume is attached and he will follow up directly with Steve, Jose and
Mike to further present himself. Carlos would be interested in being hired
into the ESA local Associate and Analyst program if the rotations included a
concentration in Regulatory/Government Affairs as this is his career
objective.
thanks,
diana
|
||
allen-p/sent_items/114.
|
27155845.1075858639875.JavaMail.evans@thyme
|
Wed, 20 Jun 2001 08:09:31 -0700 (PDT)
|
RE: Call to Discuss Possible Options to Mitigate Effect of DWR jeff,
Is the problem that the energy DWR purchased is above market and not needed by CORE or just above market. If the energy is needed by CORE wouldn't the deals just be blended in as costs like utility gen and QF supply? If the energy is not needed now could the state sell back the excess then compute the exact loss and put a surcharge on rates for all or some customers that recoup that amount over time. Once again there would be a CTC type recovery period but there would not be the risk that the market price must stay below a fixed price for the stranded costs to be recovered.
Phillip
-----Original Message-----
From: Dasovich, Jeff
Sent: Tuesday, June 19, 2001 5:11 PM
To: Belden, Tim; Calger, Christopher F.; Steffes, James; Shapiro, Richard; [email protected]; Kaufman, Paul; Mara, Susan; Allen, Phillip K.; Yoder, Christian; Hall, Steve C.
Subject: Call to Discuss Possible Options to Mitigate Effect of DWR Contracts--Privileged and Confidential
Sensitivity: Confidential
PLEASE KEEP THIS NOTE, AND THE INFORMATION CONTAINED IN THE NOTE CONFIDENTIAL.
As folks are aware, we have been engaged in closed-door negotiations for the past two weeks regarding a possible market-based solution to California's electricity crisis.
In the room are the major large customer groups, environmentalists, small customers (TURN), Independent Energy Producers, labor, the Western States Petroleum Association, and Enron.
The negotiations were convened by the Speaker of the Assembly (Bob Hertzberg).
When Hertzberg convened the meeting, he told the parties that he wanted to achieve a core/noncore structure, similar to the structure in place in California's gas market (i.e., large customers are required to buy gas from the market, with Direct Access available to all other customers).
In effect, "core" customers (rez and small business) would be served by the utilities' retained generating assets and QF contracts; and large customers would go to market.
The core/noncore structure would begin 1.1.03.
The negotiating group has struggled over the past two weeks, but is close devising a framework for core/noncore in Californis (but who pays for the utilities' past debts and the costs of DWR power purchased between January and today remain very contentious).
Unfortunately, with the release of the information regarding the DWR contracts last Friday, it is now clear that achieving a core/noncore structure will be very difficult unless something is done to mitigate the contracts.
The problem is that, if core is served by utility gen and QFs, and large customers are in the market, there is no (or very little) need for the DWR contracts. Instead, they look like a signficant stranded cost.
Hertzberg and the negotiating group are looking to Enron for creative ways to address "the DWR contract problem" in order to prevent the contracts from 1) killing the core/noncore deal and 2) forcing California to accept a structure focused on a state power authority headed-up by David Freeman that does not include Direct Access.
Christian Yoder and Steve Hall are reviewing the contracts to analyze any "out clauses" that the buyer and/or the seller might have under the contract provisions. (My cursory review of the contracts suggests that "outs" for the state are minimal or nonexistent.)
In addition, we've started batting around ideas about how the State might reform the contracts.
All this said, want to let everyone know that we have made it extremely clear that Enron fundamentally opposes any and all attempts to unilaterally abrogate anyone's contract rights.
We'd like to have a quick call tomorrow (30-60 minutes) to brainstorm some options that we can offer Hertzberg to handle the contracts and keep the core/noncore solution alive. We'd like to try to have the the call at 1 PM PDT. Please let me know if this works for you, and if it doesn't, please let me know if there's a time after 1 PM PDT that works for you.
Thanks,
Jeff
|
||
harris-s/deleted_items/422.
|
19109944.1075862335712.JavaMail.evans@thyme
|
Tue, 20 Nov 2001 11:17:11 -0800 (PST)
|
REVISED McCarty Contact List Attached please find the revised contact list for Danny McCarty's group.
If you have any questions, please call me at x3397. Happy turkey day. Thanks.
|
||
farmer-d/performance/7.
|
3358123.1075859094829.JavaMail.evans@thyme
|
Thu, 8 Nov 2001 07:28:12 -0800 (PST)
|
FW: Field Services Office ******************************************************************
This email and any files transmitted with it from the ElPaso
Corporation are confidential and intended solely for the
use of the individual or entity to whom they are addressed.
If you have received this email in error please notify the
sender.
******************************************************************
|
||
gang-l/deleted_items/325.
|
15102430.1075840478142.JavaMail.evans@thyme
|
Mon, 29 Apr 2002 10:53:02 -0700 (PDT)
|
New opportunities... :o) Hello all,
As many of you may already know, I decided to pursue new opportunities for employment and have accepted a position with Legacy Health Systems as an HR Assistant. My last day at Enron will be Wednesday, May 1st.
I'd like to thank you for contributing to my experience at Enron. You have helped make the work environment fun--even in spite of the ups and downs of the recent months. I know that the knowledge, experience and memories I have gained in the past 2 1/2 years will travel with me in my future endeavors.
If you'd like to keep in touch, you are welcome to e-mail me at [email protected].
Warm regards,
Grace
---------------------------------
Grace Rodriguez
Enron North America (Portland)
Human Resources
503.464.8321--direct
503.464.7553--fax
[email protected]
|
||
kitchen-l/_americas/it/129.
|
2660816.1075840862785.JavaMail.evans@thyme
|
Tue, 17 Apr 2001 18:31:00 -0700 (PDT)
|
ENA IT Projects Meeting The above mentioned meeting has been scheduled for Wednesday, April 18 from 4:00pm - 5:00pm in EB3314.
If you have any questions, please call me at X58113.
Thanks.
|
||
heard-m/inbox/master_netting/56.
|
29778772.1075859384882.JavaMail.evans@thyme
|
Mon, 12 Nov 2001 14:30:13 -0800 (PST)
|
FW: Richardson Energy Marketing, Ltd. Carol St. Clair
EB 4539
713-853-3989 (phone)
713-646-8537 (fax)
281-382-1943 (cell phone)
8774545506 (pager)
281-890-8862 (home fax)
[email protected]
-----Original Message-----
From: Mendoza, Nidia
Sent: Monday, November 12, 2001 3:57 PM
To: Williams, Jason R (Credit)
Cc: Cook, Mary; St. Clair, Carol; Moran, Tom; Viverito, John; Flores, Nony
Subject: Richardson Energy Marketing, Ltd.
Jay,
FYI
Bill Hayes 817-339-7410 with Richardson Energy Marketing, Ltd. is looking for a master netting agreement.
Nidia A. Mendoza
Credit Specialist
Enron Corp.
1400 Smith St., Suite 2808 D
Houston, TX 77002
Tel: 713/853-4868
Fax: 713/853-9476
e-mail: [email protected]
|
||
dasovich-j/sent/4165.
|
17843256.1075843880326.JavaMail.evans@thyme
|
Tue, 17 Apr 2001 11:05:00 -0700 (PDT)
|
Re: The Power of Who - expertfinder Greetings:
I tried to log in and the system told me that I'm not authorized to use the
system.
Best,
Jeff
|
||
davis-d/fyi/13.
|
8250703.1075851577977.JavaMail.evans@thyme
|
Thu, 5 Apr 2001 09:52:03 -0700 (PDT)
|
All Enron Employees United States@ENRON
|
Action Requested: New iBuyit Order Procedures This Information Applies ONLY to Organizations Supported by Houston-based Accounts Payable Processing Centers
Earlier this week I was pleased to announce that Enron's new procurement and payment tool, iBuyit eProcurement, is now live for those who previously requested IT hardware from IT Central. But there is still more to come! On May 1st the iBuyit Payables system will be activated for all organizations supported by Houston-based Accounts Payable processing centers. The new iBuyit Payables system will increase the efficiency of the accounts payable process by capturing invoices as scanned images at a central point of receipt and routing them electronically for coding, payment authorization, and issue resolution.
In preparation for this transition, there are some simple changes to the way you currently order and pay for goods and services. Following these changes will ensure that your invoice is correctly processed through the iBuyit Payables system.
Effective immediately, provide vendors with the following information when placing an order and instruct them to reference this information:
* Company Number or Legal Entity Name
* Contact Name
* Personal External Identification Number (EID) or Approved Purchase Order Number
* New P.O. Box (See Below)
What is an EID?
An EID is your External Identification Number (EID). This EID number identifies the purchaser and helps route non-purchase order invoices back to the purchaser electronically through iBuyit.
Do I need to use an EID for non-purchase orders?
Yes. When ordering goods and services with a non-purchase order, the purchaser should provide the vendor with the appropriate EID. It is your responsibility to communicate to vendors that an EID is now required for non-purchase orders.
Do I need to use an EID for purchase orders?
No. When ordering goods and services with an approved purchase order, you should provide the vendor with a purchase order number as you currently do.
What if I do not know my EID?
All Enron employees are assigned an EID number. If you purchase goods and services on behalf of Enron, you need to know your personal EID number. You can access your EID number in eHRonline. Logon to eHRonline, choose "Personal Information" to pull up your personal profile. On the left side of the "Personal Information" screen select "Other" and you will see your:
* PID (SAP ID)
* GIS ID
* EID
What is our new mailing address (PO Box)?
Effective immediately, instruct the vendor to mail the invoices to the following address:
PO Box 4734
Houston, TX 77210-4734
What do I do if an invoice comes directly to me?
HOUSTON LOCATIONS ONLY
If an invoice comes directly to you, mark the envelope "Attention Enron Accounts Payable," and place the envelope in an AP drop box at any Enron mail center.
FIELD LOCATIONS ONLY
If Houston currently processes your invoices, and an invoice comes directly to you, they will continue to be processed by the Accounts Payable department in Houston. Please send invoices to the new PO Box above or the following physical address:
3724 Dacoma
Houston, TX 77092
ATTENTION ENRON ACCOUNTS PAYABLE
Note: ETS Field locations will continue to process non-purchase order invoices locally.
How will vendors learn about these changes?
This information will be shared directly with vendors in a separate communication.
Questions? Send an e-mail to <mailto:[email protected]>
<Embedded Picture (Metafile)>
|
|
haedicke-m/all_documents/865.
|
16763436.1075845017930.JavaMail.evans@thyme
|
Mon, 8 Jan 2001 02:29:00 -0800 (PST)
|
Stephanie Harris@ENRON, Mark E Haedicke@ECT
|
Dabhol - An Update on Legal Efforts Gentlemen -
Now I have to take it all back.
The GOM called Ken Lay and asked for a 24 hours reprieve on the GOM Guarantee
demand. Ken agreed to give them the reprieve. While we had already served
it and received an acknowledged receipt, we will take the demand back, give
them back the receipt and wait for 24 hours.
Bruce
---------------------- Forwarded by Bruce Lundstrom/ENRON_DEVELOPMENT on
01/08/2001 10:31 AM ---------------------------
Bruce Lundstrom
01/08/2001 08:56 AM
To: Stephanie Harris@ENRON, Mark E Haedicke@ECT
cc: Rob Walls/NA/Enron@Enron
Subject: Dabhol - An Update on Legal Efforts
Gentlemen -
We are currently in the processing of serving/delivering the GOM Guarantee
demand and the PPA Meet and Discuss Letter. Ken Lay approved the delivery in
a conference call this morning. Our attention will then turn to the GOI
Guarantee demand (can be served a week from today), the Notice of Arbitration
under the GOM Guarantee and anticipation of injunctive relief being sought by
our counterparties to stay any arbitration and collection/payment on the
guarantees.
We are scheduled to meet with the lenders in NY tomorrow.
Bruce
---------------------- Forwarded by Bruce Lundstrom/ENRON_DEVELOPMENT on
01/08/2001 08:54 AM ---------------------------
Bruce Lundstrom
01/05/2001 01:57 PM
To: Stephanie Harris@ENRON, Mark E Haedicke@ECT
cc: Rob Walls/NA/Enron@Enron
Subject: Dabhol - An Update on Legal Efforts
Jim/Mark -
I know that Rob has been keeping you generally apprised, but I thought that I
would update you both on the quickly evolving Dabhol situation.
The commercial situation at Dahbol Power Company is deteriorating pretty
rapidly. MSEB is now approx. 45 days late on payment in full of the October
invoice. They have paid only a relatively modest portion of that bill.
Payment on the November bill is about 15 days late. The MSEB Chairman says
that MSEB can't pay these invoices.
At present, the Governments of Maharashtra and India are refusing to engage
in a constructive dialogue on solving the non-payment issue and the 1400 MW
that will come on line as part of Phase II. They say that they recognize
their obligations as guarantors of MSEB's obligations but are not interested
in helping in any different capacity (e.g., GOI buys some or all of Phase II).
Until just a few days ago, the lead India bank was refusing to fund even
their own ongoing interest obligation. At present, they are refusing to
continue funding any other Phase II draw request. The India banks have a
great deal to lose and, in our opinion, should strongly consider continuing
to fund Phase II. It would seem that the lead India bank is scared, knaive
or, worse yet, very pessimistic about Dabhol's future -- perhaps there are
other reasons for their current position.
We are meeting with the international banks in NY on Tuesday. Our main goal
is to convince them to continue to fund and to use their influence to have
the India banks do the same.
The current India legal crisis team is nearly identical to the 1995 India
legal crisis team. The same law firms and lawyers (both Indian and
international) are continuing to play much the same roles.
We have not identified any particular "holes" in Dabhol's legal position.
While the India newspapers have offered up various theories that might allow
MSEB to cancel the PPA (frustration of purpose, etc.), none seem compelling.
No counterparty has offered up any of these theories directly to DPC.
In the short term, we are preparing (1) a demand under the GOM guarantee and
(2) a "meet and discuss" letter under the PPA. The current plan is to serve
these next week. We are also preparing (3) an arbitration notice under the
GOM guarantee, (4) a demand under the GOI guarantee and (5) an action against
MERC. MERC is the Maharashtra Energy Regulatory Commission. They have
issued "orders" over the last year limiting the amount of power that MESB
buys from Dabhol. We do not believe that they have jurisdiction to do so.
We may or may not ultimately file this action.
Let me know if I can provide any further information.
Bruce
|
|
giron-d/old/2.
|
23021419.1075848306465.JavaMail.evans@thyme
|
Tue, 2 Jan 2001 05:14:00 -0800 (PST)
|
New Hire Info. Darron,
I met this man's wife, Nadia Rodriquez, in orientation. Here is what she
said about her husband's work experience.
"My husband just finished his MBA and his company's moving to Atlanta. He
has been offered two positions there but we would rather stay here. His
background has been in the securities industry, most recently in compliance
where he ensures that brokers follow NASD and SEC regulations in all aspects
(e.g. trading, marketing, etc.). Prior to the compliance role, he was a
broker with PaineWebber. Also, he has extensive computer skills and is used
to dealing with all levels of personnel."
She should be sending me his resume soon.
Carole
|
||
kaminski-v/all_documents/1544.
|
28952277.1075856219263.JavaMail.evans@thyme
|
Mon, 12 Feb 2001 04:30:00 -0800 (PST)
|
Re: books Steve,
I sold EFS. I think insurance stocks are going up
on the hopes of further interest rates cuts.
We bought 100 books.
Yes, please, send me the copy of an article.
Vince
Steve Bigalow@ENRON
02/12/2001 09:50 AM
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: books
Good Morning,
Welcome back. Will get some picks to you tonight. Are you still in EFS? Hope
so, it is breaking out to new levels today.
Question, the new book on Deriatives, how many copies did the company
purchase on the initial run?
Also, there was an article about the 90% non-recourse loan programs in
E-COMPANY magazine this month, do you want a copy of the article?
Steve
|
||
germany-c/all_documents/1042.
|
7814914.1075853685928.JavaMail.evans@thyme
|
Thu, 13 Jul 2000 06:15:00 -0700 (PDT)
|
Re: Happy Belated Birthday! OK - what kind of car and where are you and I going on vacation?
From: Stephanie Sever
07/13/2000 12:32 PM
To: Chris Germany/HOU/ECT@ECT
cc:
Subject: Happy Belated Birthday!
Chris,
How impersonal and Late so first - my apologies. No excuses but this week
has been unbelievable.
I hope that you had an incredible Birthday - I guess you started early since
I did try to call on Frid. I hope it was fun.
I bought my self a new BD car! Kind of exciting.
Today a few of us in my group are headed to the London office! So In my haste
I wanted to be sure and at least send you a belated birthday wish.
Stephanie
|
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