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Hello, I have decided to have a holiday cocktail party.
Invitation will follow but I wanted to get on your calendars.
It is going to be Saturday, December 22.
Hope you all can come!
kari
| Holiday Party |
STUDENT TO STUDENT (STS) AND HAAS ALUMNI JOB FAIR When: 11/27 and 11/28 from 6:00 to 8:30 Where: B of A forum If you or someone in your company has current openings that you think your peers in the Evening MBA program and Haas MBA alumni would be interested in, please plan on participating.
You can use this opportunity to earn a finders fee, if your company pays for employee referrals.
The job fair will be held on both Tuesday and Wednesday nights.
Ideally we would like you to participate both nights, if you can only attend one night that will be OK.
If you will be in class, I will set up your table and you can come during the break and be available to answer questions.
Other companies will be at their tables from 6-8:30.
There is no charge.
You or your companies' representative will staff the information table, disseminate company literature along with a list of current openings and be available to answer questions about the jobs/company.
| EveMBA Student-To-Student Job Fair 11/27 & 11/28 |
Attached is a summary of PG&E's notes on how they calculate the PX Credit (until January 19, 2001 when they hardwired $150/mwh).
We continue to try and get a handle on how the FERC Refund case will impact the PX Credit and Negative CTC.
If anyone has any issues or comments, please let me know.
Thanks.
| PG&E PX Credit Calculation |
Hi Jeff - Here's the deal, I've had a cold for a few days.
I'm probably past the contagious stage but this is not an exact science.
I'm up for teaching today but I figure it's fair to let people know in case they're concerned.
I'll see you at 4:30 unless I hear from you in which case I'll understand.
Hey, thanks for facilitating this little DAW discussion group.
I think I understand the procedure now.
I had to hunt around a little for the "reply to all" command(not on my tool bar), but I found it.
Now I'm ready.
I'm still learning about a lot of this stuff.
Later - Avram
| today |
Hi everybody, I happened on an addition to my search for info while doing a little research last night.
There just might not be anything on this out there yet, but I was at Asus' website last night and it seems they have a new dual-processer motherboard out called a CUV266-DLS and I can't find anything about it anywhere.
Maybe it's too new or too expensive for anyone to have bothered with up to this point but I'm snooping around so if you've heard anything... Avram
| More DAW |
Here are the results of Week 10.
Growney took 1st place; Conna came in 2nd; and Andy and Ken tied for third.
It was a high-scoring week with a total of 2,590 points.
Congratulations to Donna and Ken, their first time in the money.
I'm sending checks out for the whole half-season.
Let me know if you don't get yours next week, just in case you've moved and I don't have the right address.
| Picks of the Week--Final Week 10 |
Send to your favorite counterparty.
Enron Receives Dynegy $1.5B Cash Infusion Tues. >DYN ENE By Christina Cheddar 11/14/2001 Dow Jones News Service (Copyright (c) 2001, Dow Jones & Company, Inc.) NEW YORK -(Dow Jones)- Dynegy Inc. (DYN) provided Enron Corp. (ENE) Tuesday with the $1.5 billion cash infusion envisioned in the companies' merger agreement, a Dynegy spokeswoman said.
Dynegy received preferred stock and other rights in an Enron unit that owns the Northern Natural Gas pipeline in return for its investment.
The cash infusion, which was made with the assistance of Dynegy's largest shareholder, ChevronTexaco Corp. (CVX), is aimed at providing Enron with additional cash liquidity to support its core energy marketing and trading operations.
The rights provide Dynegy with the option to acquire the pipeline unit should the two companies fail to complete their merger.
The deal, which still needs shareholder and regulatory approval, is expected to close within the next six to nine months.
Dynegy is acquiring Enron for 0.2685 of a Dynegy share, or about $10 billion based on the recent price of Dynegy shares.
The acquisition of Enron by its smaller rival follows a series of disclosures about Enron's financial dealings with partnerships run by some of its corporate officers.
The dealings are under investigation by the Securities and Exchange Commission and at the center of more than a dozen of shareholder lawsuits.
During the last month, Enron watched as its share price sunk to a small fraction of its earlier levels as shareholder confidence in the trading company evaporated.
As credit-rating agencies began to cut Enron's debt ratings threatening the company's investment-grade status, the company scrambled to raise additional cash to shore up its balance sheet and protect confidence in its business.
Industry experts viewed Dynegy's cash infusion as one way the companies sought to bolster confidence in the energy trader's liquidity, and protect its most valuable business.
In a conference call earlier Wednesday, Enron said its core energy trading business has been temporarily hurt by the uncertainty created by recent events.
According to Dynegy spokeswoman Jennifer Rosser, the preferred stock Dynegy has received for its investment in Enron is convertible into the common stock of the Enron pipeline unit.
Dynegy also has the right to convert the preferred stock into Enron shares if it desires, the spokeswoman said.
For example, if Enron were to cancel its merger with Dynegy in order to accept a higher bid from another suitor, Dynegy might decide to convert its preferred shares into Enron stock in order to reap the profits created by an increase in Enron's stock price, Rosser said.
In either case, Dynegy wouldn't be required to pay any additional consideration.
Dynegy was able to make the cash infusion after ChevronTexaco, of San Francisco, made an investment in Dynegy.
If the acquisition closes as anticipated, ChevronTexaco, which owns about one-fourth of Dynegy, plans to make an additional $1 billion investment in the combined company.
ChevronTexaco also has the right to purchase an additional $1.5 billion in Dynegy stock in the first three years following the close of the acquisition.
Enron officials said they are monitoring the energy market's reaction to the cash infusion, and hopes it will restore the confidence of its counterparties.
Enron remains on a credit watch at the credit-rating agencies.
Moody's Investors Service and Standard & Poor's each have Enron rated one notch above speculative grade.
| Enron Receives Dynegy $1.5B Cash Infusion Tues. >DYN ENE |
Sue, Attached is a draft declaration for an ESP provider.
I will send a direct access customer declaration shortly.
The provider declaration focuses on : (1) lost jobs, (2) forfeited /terminated direct access contracts, and (3) avoidable damage claims.
The test is irreparable harm and monetary claims which can be compensated are not given the same weight as other intangible items.
However, the magnitude of the potential losses will be compelling as they cumulate.
I would like your imput for other areas of injury a provider can anticipate.
It will probably be necessary to distinguish the injury related to pre- and post-July 1 contracts.
EWD
| ESP Declarations |
Jeff, I have infact double booked myself for 4:00 on Thurs.
I am checking on cancelling my conflict, but I had made commitments to get out of the office with some other originators for the afternoon.
Call me first thing when you get in, I will update you then.
BT
| Meeting on Thurs |
Guys, At the Board meeting yesterday, WPTF agreed to consider being involved in the utility procurement case.
AReM is also reviewing its participation as is IEP.
IEP should play a major role -- they have serious concerns that the CPUC will attempt to reinstate integrated resource planning and the evil BRPU.
WPTF will have its attorney review the utility filings due on November 21, and prepare summary comments for WPTF as a starting point for detrrmining the WPTF position.
The board agreed to hold a teleconference on November 28 to decide on its position.
With all these groups involved, I think Enron will be able to coordinate its issues through them and avoid being in the case separately.
| WPTF Considers Participating in Procurement OIR |
Jeff, Jim and I spoke today about having Enron participate separately in this proceeding -- responding to the utilities' plans to be filed today.
I believe that AReM will take a strong position and will incorporate any comments we have.
I don't see anything we can gain by paying for a separate filing under Enron's name.
Jim agreed.
Jim asked that you call him if you have major concerns with this approach.
| Implementation of DA Suspension--Enron participation |
<<IPW111901.pdf>> Good Morning, Attached, please find the latest issue of our Independent Power Weekly.
Summary: 1.
IPPs Rise 5.0% Last week our IPP composite rose 5.0%, outperforming the S&P 500 (+1.6%) and the NASDAQ (+3.8%).
AES Corp (AES), which was up 22.2%, was the strongest generator in the group followed by Reliant Resources (RRI) which rose 11.0%.
Orion Power (ORN) was the weakest performer, rising 1.2%.
2.
Generation Oriented Utilities Fall 2.8% Our universe of generation-oriented utilities fell 2.8%, in-line with the UTY (-2.5%).
Black Hills (BKH), Cleco (CNL) and Constellation Energy (CEG) all rose less than 1%.
Allegheny Energy was the weakest performer, down 7.6%.
3.
ENE/DYN + Attractive Valuations Boost Stock Prices Last week was the 3rd consecutive week of positive stock price performance for the group.
Driving stock prices higher, investors continued to grow more comfortable with the Enron situation following confirmation of Dynegy's intention to acquire Enron and provide immediate liquidity support by investing $1.5 billion.
Further, we believe the group simply remains oversold.
The pure play power producers are trading at a 7% average discount to their private market asset values.
4.
Notes From Mirant Meeting Mirant hosted an upbeat analyst meeting last Tuesday.
MIR reiterated that 80% of its 2002 forecast is supported by earnings from hedged (generation and natural gas) and franchise businesses (distribution).
MIR also provided an in-depth review of how it accounts for its risk management activities.
Management noted that it could maintain its credit rating without any new equity issuance over the next 12 months.
However, it would be eager to access the equity market should conditions improve in the near-term.
5.
Power Market Update Last week the US power markets were generally weak across the country owing to mild weather and falling natural gas prices.
While the Mirant National Power Index fell 17.1% last week, the Natural Gas Week composite spot price fell 23.2%.
Spark spreads improved in the Northeast and Texas, while compressing in California and the Southeast.
6.
Debt Market Update Credit spreads tightened across the sector last week due to diminished ENE concerns and positive stock price performance.
Regards,
| CSFB Independent Power Weekly; IPPs Rose 5% Last Week; 7%Private Market Value Discount Remains |
We have some very sad news from State Senator Bruce McPherson.
On Saturday morning, his 27 year old son was murdered in San Francisco during an attempted robbery.
Hunter McPherson will be remembered during a memorial service in Aptos on Wednesday, November 21.
The family has also set up an athletic scholarship fund in his name.
We have additional information if you need it.
Please remember this wonderful family in your thoughts and prayers.
| Senator Bruce McPherson |
SVMG ENERGY COMMITTEE MEMBERS, LIAISON REPRESENTATIVES & PRINCIPAL OFFICERS: The California business community needs your help in opposing AB67 XX.
This bill represents a dangerous attempt to rewrite SB78 XX, the Edison bail-out legislation, which passed the Assembly last Friday.
After months of good faith discussions the amendments the California Business Coalition so strongly advocated for have been completely disregarded.
Direct Access continues to be threatened and an unfair rate increase for large energy users still lingers.
We urge you to contact your local delegation to express your opposition to this inequitable legislation.
The Senate will be voting on SB67 XX immediately.
If passed, the bill will go to the Assembly for vote tomorrow morning.
Please contact members of both houses so that the concerns of the California business community are clearly heard.
Attached please find the Business Coalitions floor alert, the SVMG's letter opposing SB67 XX, as well as a spreadsheet with contact information for our local legislative delegation.
Any effort in this regard will make a difference.
Thank you for all of your help.
Sincerest Regards, Carl Guardino
| URGENT: The California business community needs your help |
Also, both the Edison and SoCalGas summaries sent Sunday had today's date on them, rather than 11/18 (just goes to show how forward looking I am).
Anyway, here are the versions with the correct dates on them.
Have a Happy Thanksgiving, everyone!
Dan
| Edison and SoCalGas Advice Letter Summaries |
Attached is a ruling issued yesterday by Commissioner Wood directing that E= SPs and customers file copies of direct access contracts with the Commissio= n by December 3.
The contracts will be available to ALL other parties who = sign a "suitable" protective order.
The Ordering Paragraphs read as follow= : 1.
By December 3, 2001, any party who believes that it has a direct acc= ess contract or agreement potentially affected by an order to suspend direc= t access as of July 1, 2001 or a date earlier than September 20, 2001, shal= l submit a true and correct copy of each of the actual contracts or agreeme= nts along with any arguments as to the impact of such an order.
A failure = to submit this information for the Commission's consideration will be consi= dered a waiver of the arguments related to claims involving the contracts a= nd agreements.
Initially, the true and correct copy of each of the actual = contracts or agreements shall be filed under seal with the Commission's Doc= ket Office and served on Administrative Law Judge (ALJ) Robert Barnett.
2.
Office of Ratepayer Advocates shall work with the parties who have e= xecuted direct access contracts or agreements to develop a proposed protect= ive order and nondisclosure agreement for Commission staff, which shall be = submitted to ALJ Barnett by December 3.
=20 3.
The electric service providers and customers who are parties shall w= ork with other parties and shall jointly submit a proposed protective order= and nondisclosure agreement that will cover parties other than Commission = staff by December 11, 2001.=20 4.
Parties' supplemental comments to the comments they filed in respons= e to the October 23rd Assigned Commissioner Ruling shall be submitted by Ja= nuary 4, 2002.
| IMPORTANT ! ! |
As you probably know, FERC yesterday issued an order that largely granted the joint complaint that was filed by Mirant and Reliant in regard to ISO's preferential treatment of CDWR.
Attached is a copy of the order, in which certain relevant passages from the order have been highlighted for your convenience.
I hope that you and your families all have a wonderful Thanksgiving!
Dan
| FERC Order on Mirant/Reliant Complaint |
Phyllis, Since you're Ms. Aggregation now -- thought you'd want to see this.
This bill passed out of the Legislature and has gone to the Governor to sign.
Call with questions!
| Municipal Aggregation Bill Passes |
Attached is the revised and substantially complete Petition for Review.
I would like comment by the end of the day on Tuesday so that the Petition can be placed in final form.
The revised application for stay will be sent on Monday, together with the revised supporting declaration.
I understand Douglass is working on the application for rehearing and I will coordinate with him so it includes the additional material necessary for the record (for example, the commerce clause argument and hardship/irreparable harm).
EWD
| Petition for Review |
<<IPW091701.pdf>> Good Morning, Our deepest sorrow and sympathy goes out to all those who have lost loved ones and have suffered because of last Tuesday's national tragedy.
For those investors that are interested in understanding how last week's tragedy might impact the sector we attached the latest issue of our Independent Power Weekly and offer the following thoughts: 1.
Framework for Analysis From a broader equity market perspective, the analytical challenge for investors is understanding how the prospect of slower economic growth will impact the outlook for corporate earnings.
Another area for analysis is understanding how the negative impact of a slowing economy will be offset by falling interest rates.
2.
Sector is Well Positioned Relative to the Market On both fronts, we believe the power generation sector is well positioned relative to the broader market.
Compared to the rest of the market, the growth prospects for the industry are clearly less sensitive to economic conditions.
Providing support for this view, in 1991, when real GDP declined 0.5%, electricity demand increased 2.0%, which compares with a 2.2% annual growth rate from 1990-2000.
In addition, we believe the sector will benefit disproportionately from falling interest rates.
3.
Current Valuations Offer Downside Protection Current valuations for the sector offer downside protection relative to the market.
On average, the
| CSFB Independent Power Weekly--Issue #43 |
SVMG Energy Committee Members: This e-mail serves as a reminder for our next Energy Committee meeting, scheduled for tomorrow, Wednesday, September 5th from 3:00 to 5:00pm.
We will be hosted by AMD located at One AMD Place in Sunnyvale.
The National Energy Policy Development Group recently issued recommendations related to improving the nation?s transmission grid, as part of its?
?America?s Energy Infrastructure?
report.
The I-Grid, developed by SoftSwitching Technologies, offers a unique, synergistic opportunity for the private sector, utilities and the federal government to work together towards realizing some of the objectives set forth in the report.
Please read the attached briefing document in preparation for tomorrow's presentation on transmission grid improvement opportunities specifically for Silicon Valley Manufacturing Group member companies.
| Prep material for tomorrow's energy committee meeting |
Jeff: At your request I am offering this memo to explain the status of the agenda items before the CPUC on the issue of suspension of the direct access program.
There are two pending draft decisions at this time, the first is the proposed decision of ALJ Barnett (Item H-7 on the last agenda) which was modified by a changed version submitted by Pres.
Lynch at 2:45 pm on 9-5-01, the day before the last meeting.
This version indicated that direct access was suspended as of the date of the order (which would have been Sept. 6) and states in another ordering paragraph that the utilities are to advise their customers that the suspension is effective Sept. 6, 2001, specifically naming that date.
This order would have been interpreted to suspend direct access as of Sept. 6 if it had been voted out that day.
The other item, Agenda Item H-7A on the last agenda, is the Bilas alternate decision which calls for hearings to determine the impact of direct access on the issuance of bonds, and does not suspend direct access at this time.
Please be advised that the suspension date contained in H-7 can and probably will be changed before the orders are considered at the CPUC meeting on Sept. 20.
Either the Sept 6 date will be changed to the 20th of Sept., or some other specific date could be inserted at all the locations in the order dealing with the suspension date.
All that is required to make this change is the distribution of a changed page on the Escutia table before the Commission meeting.
Thus, it is important for all direct access supporters to continue to urge the Commission, especially Commissioner Brown, to support a suspension date later than Sept. 6, because it is so easy for the date to be altered under Commission procedures.
Please let me know if you require any additional information on this subject.
Mike Day Goodin, MacBride, Squeri, Ritchie & Day
| Status of CPUC Proposed Decisions on Direct Access Suspension |
Attached is the revised Petition whcih has been redlined against the draft provided last Saturday (September 15, 2001).
The primary addition is the Senate Resolution on September 14 which declared that there was no longer an emergency.
The tables in the Petition are being revised and should not be reviewed at this time.
The following remains to be done: 1.
Prepare the application for rehearing and request for immediate stay.
This will be done by Douglass and will include new material not previously submitted (the commerce clause argument, a statement regarding the importation of power into California, the Senate Resolution of September 14, and the sealed declarations showing irreparable injury).
2.
The refusal to grant the immediate stay will be the vehicle to satisfy the exhaustion of remedies issue so it will be necessary to force the Commission to act or to take some action which is tantamount to a denial.
3.
The Petition must be placed in final form.
This will require that a determination be made who will be a Petitioner in addition to Enron (the draft Petition assumes there will be direct access customers as Petitioners).
Also, all citations and quotes will be verified, and the page references inserted from the Exhibit Folio.
4.
The documents supporting the Petition will have to be compiled and placed into an Exhibit Folio.
This will include the Application for Rehearing and sealed declarations.
5.
It may be necessary to compile a folio of non-California authorities.
I will check the California Rules of Court.
6.
It will be necessary to prepare an Application for Immediate Stay and a proposed Order.
7.
All pleadings will have to be prepared for filing and service.
It is my assumption that the PUC will act on Thursday September 20, that the Application for Rehearing will be filed on September 21, and that the Petition will be filed at the earliest possible time during the week of September 24.
Please provide your comments on the Petition no later than noon on Wednesday, September 19, 2001.
Thanks.
EWD
| Revised Petition |
Jeff, Thanks, in advance, for your help with this.
The project is a "Corporate Responsibility Stakeholder Perception Survey" designed to gather baseline information on how our stakeholders view the issue of corporate social responsibility in general, and Enron in that regard in our major markets US, UK and Japan.
Stakeholders are defined as those who are affected by our business, can affect our business or have an interest in Enron - customers, suppliers, governments, regulators, NGOs, employees, shareholders, etc.
What I would like from you is which stakeholders you think are important to include from Enron Corp's perspective here in California, and the job title or name therein.
Please just take 5 minutes or so to list them, don't spend any longer than that.
CPUC - who?
CEC - who?
any others...
I already have the major environmental organizations, but if you think TURN or others should be included, let me know.
Thanks so much!
| stakeholder list |
Dear STudents, Some of you have sent me emails this week and your messages and email addresses were chopped off or incomplete.
So if I haven't responded to your emails yet, please re-send them, making sure that you send an address to which I can reply to you.
Thanks,
| Email addresses |
Dear Amazon.com Customer, What's an Amazoniversary?
Two years ago this month, you placed your very first order (using this e-mail address) with Amazon.com.
To extend our thanks--and show you how much growing we've done--we're
| A $10 Gift for Your Amazoniversary |
<<IPPupdate092001.pdf>> Good Morning, Attached, please find our latest FC note on the Power Generation sector.
Summary: 1.
IPPs Down 6%; Generation Oriented Utilities Down 2% On September 17, 2001, our IPP composite traded off 6.2%, outperforming the NASDAQ (-6.8%), but underperforming the S&P 500 (-4.9%).
Reflecting their more defensive characteristics, our universe of generation oriented utilities traded off only 1.9%, outperforming all the major market indices.
2.
CSFB Hosting Conference Call on Thursday at 11 AM EDT This Thursday (9/20/01) at 11 AM EDT we will be hosting a conference call featuring Judah Rose-a power generation expert with ICF Consulting.
The dial-in number is 877/715-5321.
Among other topics to be discussed, the relationship between economic conditions and power demand growth will be explored in greater detail.
In the near-term, we believe the key analytical challenge for all equity investors will be to determine how the prospect of slower economic growth will impact the outlook for corporate earnings across sectors.
3.
MIR Outperforms Following 2 Key Announcements MIR issued revised 2001 EPS guidance of $1.95 versus its prior forecast of $1.90.
Management noted that this revision reflects its continued success in using its trading and marketing operation to optimize the value of its asset base.
Concurrently, management announced that its board has approved the repurchase of up to 10 million shares over the next 30 days.
We have revised our EPS estimate accordingly in a separate First Call note issued today.
4.
ORN Down on NYC Power Market Concerns; Con Ed Filing Indicates Intact Fundamentals Orion Power traded off 14.6% owing to concerns surrounding the potential impact of the WTC tragedy on the New York City power market.
In particular investors are questioning the magnitude of lost power demand and the potential impact on the supply/demand balance in the region.
In an 8K filing issued yesterday, Con Ed notes that lost demand approximates 140 MW-30% below the low end of the initial range of estimates.
In addition, a portion of this demand will likely be relocated to other parts of the city.
Overall, Con Ed's filing gives us greater comfort in our conclusion that the fundamentals of the New York City power market remain intact.
Regards,
| CSFB Power Generation Update; Hosting Conference Call at 11 AMED T on Thursday (9/20/01) |
Hi, "Economics of Strategy" by Besanko is available in the Evening MBA Office.
You may already have the book if you took Leonard's Microeconomics course last Fall.
Thanks!
| E210 Besanko textbook has arrived |
Jeff, further to our conversation... this is the list of companies that have entered into contractual agreements with the DWR.
I don't know if this means they have transaction but perhaps between Kim Ward and yourself, you can advise.
What I need to know is the legal status/issues ( if any ) of any of the companies listed here today as it relates to the state of California.
Pan Canadian Energy Services, Occidental Energy Marketing, Dynegy Marketing and Trading , Texaco Natural Gas, BP Amoco, and Coast Energy Group.
Can you advise If any of these companies form part of ongoing legal action against the state?
Once I know this, then we can decide on a plan what we should discuss with Mark Baldwin.
Thanks in advance.
| DWR Gas Supply |
Dear Jeffrey: As you may know, Congressman Dick Gephardt will be our Keynote Speaker at our Annual Luncheon this year.
As one of our key community partners, it is my hope that you might consider joining us at this year's Luncheon as a Table Sponsor.
This year's lunch is scheduled for Friday, October 26, at the San Jose Fairmont Hotel, from 12 noon until 1:40pm.
As a Table Sponsor, you would receive ten tickets to the lunch, recognition in the program, and an invitation to join SVMG Member Company CEO's for a private, one-hour, closed door conversation with Minority Leader Gephardt immediately preceeding the lunch (11am until 12 noon).
The cost for a Table Sponsorship is $1,500.
It would be an honor to have you join us.
Thank you for your consideration.
I look forward to hearing from you soon, and appreciate your support.
Warm Wishes, Carl Guardino President and CEO Silicon Valley Manufacturing Group
| Dick Gephardt - Luncheon Invitation |
Attached for your review and comments is Enron's Answer to Motion for Partial Summary Disposition by the Texas, New Mexico and Arizona full-requirements shippers in the complaint proceeding that they filed in July (RP01-486).
The shippers have asked the Commission to (a) summarily determine that El Paso's mainline capacity is not adequate to serve its existing firm customers and (b) expeditiously establish a remedy phase in this proceeding.
Enron's answer reiterates the comments it filed in the original proceeding, namely that the Commission should consolidate this proceeding with the complaint filed in RP01-484 by the Joint Complainants (producers, California LDCs) which also deals with issues of adequacy of capacity.
We also reiterate and emphasize our original proposal that the Commission require El Paso to immediately give existing firm shippers the opportunity to turn back capacity they no longer need as one means of making additional capacity available to those who need more.
You do not need to respond, but if you desire to, please get any comments back to me or Leslie by noon tomorrow.
Thanks.
| Please Respond by 12 noon CDT Friday, Sept. 21 -- El Paso Proceeding |
Hi, I wanted to update you regarding the DG conference to be held in San Diego on November 1-2, 2001, presented by CADER and co-hosted by the DPCA, USCHPA and the AGCC.
The program for the conference has been posted on the CADER website at www.cader.org If you have not yet registered, please note that the cut-off date for early-bird registration and hotel room rate reservation is September 30th.
Please reserve your rooms early to ensure space.
Registration forms also can be downloaded from the web site and you can register either on-line or by mailing/faxing the form to the address noted on the form.
Look forward to meeting you at the Conference, Jairam Gopal Chair, CADER.
| 2001 CADER Conference - update |
Dear Haas Students, Tomorrow the Haas School will hold the 5th Annual Knowledge Forum in Andersen Auditorium 9:00 am - 3:30 pm You are invited to drop in at any time during the day.
Attached is the program listing speakers and their bios.
David Teece Director, Institute of Management, Innovation & Organization
| Knowledge Forum |
EXECUTIVE SUMMARY CPUC Terminates Direct Access PG&E/SoCal Bankruptcy Developments Direct Access Despite the information that a CPUC representative responded favorably to a vote-delay request sent by the state's major business interests, and pressure to delay the vote from Governor Davis, the CPUC effectively terminated direct access in a 3-2 vote.
Our estimates regarding the votes of commissioners Brown, Wood, and Lynch did play out, as well as the CPUC's failure to pursue retroactivity for DA agreements.
The CPUC's move to carry forward the DA vote is not a complete surprise, as President Lynch has historically presided independently from pressure by Governor Davis.
Dismayed that the California Legislature was unable to offer resolution, Lynch and other commissioners felt obligated to provide direction and move the state forward in securing the State's economic base.
Note that DA agreements signed within the last three months may still be held under review by the CPUC, though no official word has yet been issued.
The CPUC also passed two measures that were preventing the progress of California's $12.5B bond sale.
There is still no clear date as to when these bonds will be issued.
SoCal/PG&E Bankruptcies Mirant and Reliant (with Mirant leading the push) are reported have approached several entities as potential third parties for a creditors committee to take SCE into involuntary bankruptcy.
The City of Long Beach has been approached, but we believe Long Beach will use its leverage as a potential third party creditor to negotiate an independent deal with SoCal for payment of debt.
Orange County, Coram, and San Gorgonio Farms are also suspected to have been asked to sign the petition.
Contrary to rumor, it is not confirmed that Dynegy is considering joining Mirant and Reliant.
However, such a move by Dynegy "would be logical" and note that Dynegy funded, with Mirant and Reliant, recent polling research examining the public opinion effects of such a move.
Dynegy is reportedly discussing the possibility.
We are attempting to determine SoCal's response to the PG&E filing, the Mirant-Reliant effort, and to try to pulse the likelihood and timing of a voluntary bankruptcy petition.
Per earlier media reports, PG&E just announced it is filing three months early of a reorganization plan with the court.
We believe that the utility was motivated, in part, by its desire to scuttle any chance of a state MOU with SoCal in the third special session of the Legislature.
The reactions of key lawmakers (Burton, Bowen, Hertzberg, Keeley), and of course the Governor, will be important to watch.
The key elements of PG&E's plan include: Assumes all responsibility for debt.
No state aid requested.
The utility will be split into two, with a distribution company remaining under CPUC regulatory authority and the native generation spun off into a new company free of CPUC oversight but regulated by FERC.
PG&E commits to provide 100% of its native generation to the State of California for 10 years at cost.
Cost of power includes both cost of generation (currently about 3.5 cents per kw/h) and cost of financing (estimated by our sources at 1.5 cents per kw/h).
All debt will be paid, with 90% of QF debt paid immediately and the remainder over a longer term.
Large generators will be "substantially" paid immediately and be asked to carry remaining debt over a longer term.
| California Update 9-20-2001 |
Done without much fanfare, except by Commissoner Wood, who continued his vitriolic attack on DA and took on green choice as "fraudulent."
The language in the order says no more DA contracts can be entered into after today.
The order directs the utilities to police the DASRs to make sure that none are submitted for contracts signed after today.
There is some strange language that talks about a possible future order to address the comments raised by the parties and putting parties "on notice" that, in this future order, they may suspend all direct access contracts signed on or after July 1, 2001.
Our attorneys are reviewing this, but on first blush, our California attorney says the CPUC would have a difficult time implementing a later retroactive suspension of DA.
| CPUC VOTES 3-2 TO SUSPEND DIRECT ACCESS AFTER SEPTEMBER 20 |
The events of September 11th are still very much with us and will continue to be for some time, perhaps for as long as we live.
For those who have not heard me say this regarding air travel,individuals should avail themselves of the travel services the company is offering in the way of guidance for those that are traveling and only travel by air for essential matters( until further notice).
In addition, anyone who is currently uncomfortable with the notion of air travel need not do so...we will work around this for as long as the need exists.
The company has also provided information on the availability of counseling services should anyone have the need- please contact HR or the Benefits Group for further information.
A final couple of notes: If there is a silver lining in the events of September 11th, it is the kindness, generosity, and humanity it brings out in the rest of us...I have seen this play out in untold ways in our "group",both in London and at home, over the last nine days , including( to a person) the absence of any hint of bias being shown towards the individual in our group who is an "Arab American" and a Muslim, Amr Ibrahim.
My high regard and respect for the Government Affairs group and for each individual has been validated many times over during the past nine days.
Thank you very much.--- Rick Shapiro
| The aftermath of September 11th -- Enron Government Affairs |
<<IPPupdate092201.pdf>> Good Morning Attached, please find our Power Generation Update issued this morning.
1.
EIX Bankruptcy Filing?-Implications for the IPPs Recent press reports have suggested there is a growing likelihood that an involuntary bankruptcy petition will be filed against Southern California Edison, the utility subsidiary of Edison International (EIX, Not Rated).
We thought it would be timely to analyze the implications of an SCE bankruptcy for the IPPs.
2.
SCE Bankruptcy Would be Neutral for the IPPs Our overall conclusion is that an SCE bankruptcy would be neutral for the sector: A.
Such an event would have no impact on the earnings estimates or forecasted growth rates for any of the companies under our coverage.
B.
In addition, none of the companies have any direct receivables exposure to SCE.
C. Finally, we believe reserves taken against accounts receivable balances from the CalISO and PX across the sector adequately mitigate exposure to potential bad debt writedowns.
3.
Updated Accounts Receivables Exposure Included Included in the note are updated details on the accounts receivables exposure of all the IPPs with California operations.
Regards,
| CSFB Power Gen Update: EIX Bankrptcy?--Implications for theIPPs |
Good Morning, For those interested, there is a replay available of our Power Generation Conference Call which took place yesterday.
The replay number is: 402/220-0140 Pin Number: 7493 The called featured Judah Rose with ICF Consulting.
Topics discussed included: 1.
Our private market valuation analysis for the IPPs; 2.
Recent trends in the US power market; 3.
Their impact on the generation supply chain; 4.
The relationship between power demand and GDP.
Please email us if you would like a copy of the slides that go along with Judah's presentation.
Regards,
| Replay Available for Power Generation Conference Call |
As detailed in the attached FERC notice, the Office of Management and Budget (OMB) has approved FERC's Information Collection Request for "Reporting of Natural Gas Sales to the California Market" through the six-month emergency period that will expire on 1/31/02.
(Emergency reporting requirements are automatically approved for six months under the OMB regulations.)
However, it gave FERC several conditions that would have to be met before the reporting requirements could be extended.
OMB has advised FERC that, if it decides to request renewal of the Information Collection Request after that date, it must address certain issues as part of its supporting statement (more specifically, "include an explicit discussion").
As you may remember, in addition to requesting rehearing of the FERC order, ENA and EES submitted comments to OMB regarding our problems with FERC's estimate of the burden on affected companies of the proposed collection of information.
We pointed out that we do not manage our business in the manner contemplated by the reporting requirements, much less keep our records in that manner.
We manage our business on an aggregated basis, and complying with the requirements will require us to implement significant manual review and analysis to arbitrarily define the components of a sale.
We stated that we might even have to hire full-time staff to dedicate to the task.
The issues that we raised in our comments are the same ones that OMB requires FERC to address if they submit a request for approval to extend the reporting requirements past 1/31/02.
(FERC indicated in its July order that it intended to extend the reporting requirement through 9/30/02 to coincide with the end date of its mitigation plan.)
OMB questioned the practical utility of requiring disaggregated data when "commenters" reported that they did not maintain the data in a way that allowed them to report it that way.
OMB expressed concern that the data collection would require significant data manipulation in order to respond, and the resulting disaggregation would likely be artificial.
OMB also required FERC to evaluate its burden estimates after "consulting with respondents", and it must provide a list of the names, affiliates, and phone numbers of the respondents it contacted.
FERC has not yet issued an order on our rehearing request.
While we would not expect them to withdraw the reporting requirements entirely, it may be that the OMB action will affect their final decision.
At the least, it sends a signal!
| OMB Response to FERC Reporting Requirements |
Susan, I am pleased that the PUC demonstrated some level of propriety and common sense by not acting in a retroactive manner on direct access.
Accordingly, we are placing our work in abeyance pending further instruction.
If any party is interested in litigating further the direct access decision from September 20, it will be necessary to petition for rehearing at the PUC.
An aggrieved party will only be able to go to court if the PUC denies the petition for rehearing or upholds its original decision following rehearing.
The grounds for judicial review now appear to be limited to (1) denial of procedural due process and (2) PUC conduct contrary to law.
This latter argument is based on a statutory duty to hold hearings when deciding whether to change a policy originally decided following hearings.
Unlike the problems caused by a retroactive decision, there is probably no basis for a stay pending final decision.
The attached petition is the most recent generation and has fairly accurate tables of authorities and content.
It does not have the two most recent developments (the statement by the Department of Finance indicating that bonds may not be necessary and the argument that there was a statutory duty to conduct hearings).
If this petition is revived, those arguments can be quickly inserted.
I have also retained all comments so those will be available if the petition is revived.
Best regards,
| Direct Access Petition |
As you may know, the PUC suspended direct access yesterday but did not do so retroactively.
With the 2001 legislative session now over with little resolved, our attention and advocacy will increasing go the PUC.
See below.
Justin California Takes Step to Reregulate Power By REUTERS AN FRANCISCO, Sept 20 (Reuters) ?
State utility regulators revoked the right of Californians to choose their power provider today, tossing out the centerpiece of the state's failed effort to deregulate its electricity industry.
The California Public Utilities Commission voted 3 to 2 to immediately suspend consumers' direct access to independent power retailers.
The move makes it easier for the state to use revenue from retail power sales to finance a record $12.5 billion bond issue this year.
The department was chosen in January to secure electricity for most of California's 34 million residents after soaring wholesale power prices drained the state's two biggest utilities of their cash and credit.
"Direct access is one half of a failed and collapsed deregulation project," a commissioner, Carl Wood, said today.
Mr. Wood said the other half of the problem was the law's retail rate cap, which blocked utilities from passing on the cost of power to customers, incorrectly assuming wholesale prices would fall.
When energy supplies tightened and prices soared, the state's largest utility, Pacific Gas and Electric Company , a unit of PG&E Corporation , and Edison International 's Southern California Edison had to absorb $13 billion in unanticipated costs.
Direct access was never a big hit.
Despite an $80 million advertising and public relations campaign to educate Californians about deregulation and retail choice, most customers stayed with their local utilities.
Big businesses and industrial customers, however, made deals with energy companies for cheap bulk power and wanted them to continue.
The utility commission estimated that 5 percent of the state's peak electricity demand of 46,000 megawatts is in direct access contracts.
About 10,000 businesses that signed new deals this summer, when wholesale power prices dropped, will be able to keep their contracts.
| FYI - Article on PUC taking away direct access. |
Here are all the picks.
Good work getting all these in by 9:30.
Thanks.
And here are the Last Person Standing picks: Atlanta, Denver, Green Bay, Indianapolis, Minnesota and San Diego.
| Picks of the Week--Week 3 Prelim |
<<IPW092401.pdf>> Good Morning, Attached, please find the latest issue of our Independent Power Weekly.
Also note that there is a replay available of our conference call, which took place last week.
The dial-in number is 402/220-7493.
The PIN # is 7493.
The call featured Judah Rose from ICF Consulting.
Topics discussed included: 1.
Recent trends in the US power market; 2.
Their impact on the generation supply chain; and, 3.
The relationship between GDP and power demand.
A copy of the slides that accompanied Judah's presentation is available upon request.
Summary: 1.
IPP's Fall 5.1% Last week our our IPP composite declined 15.4%, outperforming the NASDAQ (-15.7%), but underperforming the S&P 500 (-11.1%).
NRG Energy, which was down 8.8%, was the strongest generator in the group.
International Power was the weakest performer, declining 30.5%.
2.
Generation Oriented Utilities Fall 6.9% Our universe of generation oriented utilities fell 6.9%, outperforming all the major market indices.
DTE Energy, which was down 2.7%, was the strongest performer in the group.
PPL was the weakest performer, declining 13.5%.
3.
IPPs Trading 24% Below Private Market Asset Value Importantly, our analysis indicates that all the major US IPPs are now trading at or below the private market values of their assets.
As a group, the major IPPs are trading at a 24% average discount to their private market asset values.
NRG Energy and Reliant Resources are trading at the most significant discounts to their private market values-33% and 34%.
4.
Disparity Between Public and Private Market Valuations is Unsustainable We believe this situation is unsustainable and envision 3 scenarios that could play out.
1.
Stock prices may simply rebound correcting the valuation disparity; 2.
IPPs limit the amount of capital allocated to new plant construction and pursue share buybacks or acquisitions of other IPPs; or, 3.
Traditional utilities (both domestic and foreign) or other entities from outside the industry pursue acquisitions of IPPs.
Regards,
| CSFB Independent Power Weekly--Issue #44 |
SVMG Energy Committee Members - FYI: ************************************************* Stakeholders, PG&E has rescheduled its Expansion Plan Stakeholder Meeting #5 for October 29 and 30, 2001 in San Francisco, CA.
The purpose of this meeting is to present the project proposals and alternatives which are to be included in the expansion plan.
The fifth stakeholders meeting has been divided into two days: Oct. 29 to present Bay Area Project Proposals and Oct. 30 to present non-Bay Area Project Proposals.
| PG&E Stakeholder Meeting #5 - Expansion Plan |
SVMG Energy Committee Members and Electric Infrastructure Team - FYI ************************************ Market Participants: San Francisco Study Group Members and Cal-ISO Market Participants, A meeting of the San Francisco Study Group has been scheduled for Tuesday October 9, 2001.
This meeting is being held to discuss both the status of various transmission and generation projects in the San Francisco Area, as well as the initiation of new transmission system studies related to the San Francisco Area.
The meeting will be held in Conference room 300 on the third floor of PG&E's 77 Beale Street building in San Francisco.
The meeting is scheduled from 10 AM to 3 PM.
Lunch will not be provided.
The draft meeting agenda is attached.
<<Meeting Agenda-Oct9thRev.doc>>
| CAISO NOTICE: San Francisco Study Group Members and Cal-ISO Market Participants |
PLEASE SAVE THE DATE!
We will be returning to the Villagio Inn & Spa in Napa from November 14 to 16, 2001 for our annual retreat.
Wednesday, November 14, 2001 -- Golf and Opening Reception
| CESG Annual Retreat |
Greetings Evening MBAs!
Sign up for one of the most worthwhile organizations at Haas.
Join Challenge for Charity TODAY!
WHAT IS CHALLENGE FOR CHARITY?
Challenge for Charity (otherwise known as C4C), is our official philanthropic endeavor where Haas, along with 5 other major west coast business schools, raises money for Special Olympics.
Haas' chapter of C4C donates significant sums of money and volunteer hours to Special Olympics every year.
In previous years we've raised as much as $70,000 for Special Olympics and we hope that this year will be just as successful!!!
C4C is one of the largest organizations at Haas and plays a major role in organizing almost all of the most popular student functions including the Halloween Ball, Ski Weekend, Charity Auction, Talent Show, Sports Weekend at Stanford, and much more.
Stop by our booth at Club Night this Thursday 9/5 from 5pm to 8pm to get more involved with any of these fantastic events!
WHAT DO I GET WITH MY C4C MEMBERSHIP?
As an Evening MBA student, your C4C membership dues are only $150!
Not only does your membership support a fabulous cause, it also entitles you to so many great benefits including a really cool new baseball cap and free access to some of the most popular social events at Haas!
Ticket prices for non-C4C members typically range about $40 per person for EACH of our most popular events.
This means that your membership brings you a ton of fun at significant savings!
Anyone who has attended any of our events can tell you that this is a deal!
So, sign up today!
CAN MY SIGNIFICANT OTHER JOIN C4C TOO?
As you may have noticed, significant others are just as much a part of the Haas family as the students, so don't forget your significant other is eligible for C4C membership as well.
We realize that significant others are not always able to attend as many events as Haas students, so significant others' membership dues are only $75.
That means you and your honey can join for a mere $225!
If your S.O.
can only attend two of our many events, it will more than cover the cost of his/her membership!
HOW DO I SIGN UP?
To join C4C, simply submit a check payable to Challenge for Charity indicating the name(s) of the new C4C member(s).
Please place your checks in Linda Ng's mailbox in the MBA Lounge at Haas or stop by the C4C table at Club Night this Thursday 9/5 from 5pm to 8pm.
We will also be holding a membership drive during the coming weeks, so look for us in the Haas courtyard during break.
Remember that membership is only $150 per Haas student and only $75 for Haas significant others.
WHAT IF I'M ALREADY A MEMBER?
C4C membership is only for the academic year, so if you joined C4C last year, you must sign up again this year.
If you've already joined C4C this year, you need to pick up your brand-spanking new baseball cap.
Please stop by the C4C table at Club Night this Thursday or during our membership drive at break during the coming weeks.
Thank you for supporting C4C and the Special Olympics!
Sincerely,
| Join Challenge for Charity TODAY! |
Jeff asked that I send this to you.
THIS MUST BE FILED BY FRIDAY.
We're trying to get as many parties as possible to join with us.
Love to have you with us.
Here is the first draft.
| Draft Request for Rehearing -- Killing DA |
Comrades: As a parting gift for Diane we thought (actually Lesley Keffer thought, and I always obey her more sensible commands) that we should take a group photo at Thursday night's party, enlarge to a decent size, frame and present to Diane for hanging on her new office wall so she will be forced to remember us forever more.
Therefore, I have engaged a photographer to be show up in the Wells Fargo Room on Thursday at about 8.
I expect there will be quite a few of us, so we will arrange some chairs and stuff for tier seating, etc.
and hope for the best.
Bring your cheesiest grins.
See you there.
JT p.s.
Diane, if you read this, you just ruined your surprise.
In order not to make the situation worse, don't let on that you know anything about this so we can all continue in our ignorant bliss.
| Read This Only If You Are Not Diane Dimeff |
Jeff - I'm told by our core procurement people that Enron has refused to enter into any term gas contracts for this winter because of problems they have with us on the electric side.
Personally, that makes no sense to me.
We have the PUC's security order that guarantees payment and Judge Montali has made it clear that he will approve the payment on all gas contracts.
It seems to me that if this is true, Enron is really screwing itself - which is no the way Enron typically does business.
Can you check with your people ?
We are now in the process of finalizing our needs for the winter.
| Enron Sales to Core Procurement |
On Sept 21, SoCalGas filed its BCAP.
They propose a new firm receipt point trading program based on the open season proposed in the comprehesive settlement.
The also propose a return to embedded cost rates, and an elimination of any transmission load risk for the utility.
We should discuss whether Enron wishes to participate in this case, which will clearly be a new vehicle for putting gas strategy issues before the commission.
Let me know if you need a copy of the application.
Mike Day
| SoCalGas BCAP |
Sorry about that.
I should have said Cindy came in first for the week, not Andy, as you can see.
I apologize to both for the mistake
| Picks of the Week--Correction |
Please remember that we will have our regulatory global issues conference call tomorrow, 9/27, at 8:00am (CST).
For those of you in Houston, we will be in room 4793.
Dialing details are listed below:
| Regulatory Global Update Call |
NGI's Daily Gas Price Index published : September 26, 2001 Kern River Shippers to See Rate Decrease Oct. 1, More in 2002 Finally, some good news: a unit of Williams said Tuesday that firm transportation rates will drop by as much as 36.5% for all original shippers on its Kern River natural gas transmission system beginning Monday (Oct. 1).
The lower rates will be implemented under Kern River's previously approved extended-term rate program.
Williams, which developed a strategy to lower rates in response to customer requests as part of its rate-reduction settlement in 1999, projects more rate reductions next May, when the costs and revenues of the 2002 expansion are reflected in rates.
"The extended-term rate program was designed to provide long-term, firm shippers with an option to pay lower, more market-responsive rates today in return for extending their contract terms," said Kirk Morgan, director of business development.
Bruce Warner, manager of rates and planning for Tulsa-based Williams, said the company had looked at its "financial situation and found that if customers could live with longer contracts, we could live with lower rates.
The lower rates will be offset by lower depreciation expenses and will not negatively impact Kern River's financial performance."
Williams' gas pipeline unit is one of the largest-volume transporters of natural gas in the United States.
Its gas pipeline unit's Kern River Gas Transmission, based in Salt Lake City, operates a 922-mile system delivering Rocky Mountain and Canadian natural gas to markets in California, Nevada and Utah.
| NGI Article: Kern River Shippers to See Rate Decrease Oct. 1, More in 2002 |
Colleagues: Risk Analytics would like to ensure that the impact of Sept.11 events on Enron's retail positions-if any-are identified and communicated to the URM.
There is very specific emphasis on the regulatory perspective (rather than a much wider economic impact) and I hope that the attached two-page presentation can help.
The first page is our short positions in September classified by State, and the second page lists the seven regulatory issues that affect the curves materially as they constitute inputs to the forecasting mechanism.
The ten states (NY, CA, IL, NJ, TX, SC, FL, NV, MA, and OH) represent over 70% of URM total positions of 103 TWh (short).
It is very possible that the regulatory environment shall not change in a material manner and thus this request to address the impact is an over reaction.
However, I would appreciate very much your inputs and opinions.
Please let me know if you have any question.
Brgrds
| Utility Risk Management Postions - Impact of Sep. 11th Events |
Jeff, Would it be possible for you to add my name to your update list.
I work with Kristin Walsh and cover competitive intelligence for power West.
Kristin is out on maternity leave I would hate to not get your report.
Thanks, Jeff.
G. Britt Whitman britt.whitman@enron.com
| California Update |
On September 10, each of the UDCs filed applications to change distribution level standby rates.
In Decision 01-07-027, the Commission had directed the UDCs to file such applications to propose distributed generation standby rates in conformity with certain requirements set forth in that decision.
These standby rates are to viewed as interim, subject to change in individual utility proceedings.
I have not reviewed the applications thoroughly.
Please let me know if you would like me to do such or whether you wold like a copy of the applications ( I do have two of the three UDCs electronically).
Jeanne Bennett
| UDC Applications on Stand By Rates |
Please send me updates on any current projects, news of any new projects, or let me know if a project has been completed/terminated for the October 5th report.
I appreciate your support in assisting me keep track of our EES/ENA Government Affairs activities.
Please let me know if you would like information on a specific project, or a copy of the complete report on a monthly basis.
Thank you,
| ENA/EES Monthly Update -Oct. 5th- |
With Aleck Dadson's recent departure, I am pleased to announce that Rob Hemstock will immediately assume a leadership role on behalf of Government Affairs for Enron Canada.
Rob will be working very closely in this capacity with Rob Milnthorp as well as myself and others.
Please join me in congratulating Rob on his new responsibilities.
| Organizational Announcement: Canadian Government Affairs |
As you are all aware, the EvMBA Program Office, Student Advisory Committee and the Evening MBA Association will be hosting a Going Away Party for Diane Dimeff tomorrow evening, Thursday 9/27, during the class break.
All EvMBA students are welcome to attend the party, whether you have class or not.
Diane's efforts and successes over the past 8 years have made the Haas EvMBA Program the nationally recognized MBA program that it is today.
We encourage you to attend to thank Diane for all of her hard work and wish her success in her latest endeavor!
If you do plan on attending and are NOT ENROLLED IN A THURSDAY CLASS, please respond to this email.
We would like to ensure adequate food & beverage.
We hope to see you tomorrow evening.
Thanks,
| Diane's Bon Voyage |
Announcement for E283-1: Real Estate Finance: Those of you who were present yesterday during the class should already have them.
I have some left over copies of the 2 next sets of lecture notes (Commercial Mortgages and REITS) and a copy of the next case.
If you did not make it to the class yesterday you can pick up your copy of everything at the door of my office (F625).
You will also notice the spreadsheet in the handouts section.
There can be various ways to tackle cases.
This spreadsheet parallels what Dennis and Co. did.
Regards,
| Lecture Notes |
Haas Computing Services Staff will be hosting the following application workshops.
Additional workshops including evening sessions have been added.
MyHaas Demos (portal tour, customize space, subscribe to services, create channels) Thursday, Sept 27, 5:30 - 6:30 (F310) Cyhnthia Hu Friday, Sept 28, 9:30 - 10:30 (F310) Jesse Excel A: basic overview Thursday, 9/27, 11am-12pm.
(F310) Joe and Sophia Excel B: (Solving problems, commenting, Keyboard shortcuts, Paste Special, Find/Replace, Sorting Data, Tracking changes, Formatting Cells, Header/Footers) Wednesday, 9/26, 6pm-7pm (F310) Howard and Bruce Thursday, 9/27, 2:30-3:30 (F310) Howard and Bruce Excel C: (report consolidation, pivot tables, charts) Tuesday, 9/25, 10am-11am (F310) Kathleen Thursday, 10/4, 9:30-10:30am (F310) Kathleen *Monday, 10/8, 7:30 - 8:15 (S300T) Kathleen *Tuesday, 10/16, 7:30 - 8:15 (S300T) Kathleen Excel D: (Formatting, Formulas, Printing) *Monday 10/1, 7:30 - 8:15 (S300T) Kathleen *Thursday, 10/11, 7:30 - 8:15 (S300T) Kathleen Powerpoint A: (work with different views, add slide components, create charts and graphs, print slides, handouts, speaker's notes, make a presentation from scratch) Tuesday, 10/2, 5:00-6PM (F310) Cynthia and Agnes Wednesday, 10/3, 5:00-6PM (F310) Cynthia and Agnes Powerpoint B: (create design templates, edit master slide, add animation, slide transitions, control timing, overview of multimedia features) Tuesday, 10/9, 5:00-6PM (F310) Cynthia and Agnes Thusday, 10/11, 5:00-6PM (F310) Cynthia and Agnes Photoshop: basic overview Monday Oct 22, 4pm (F310) Tracy Thursday, Nov. 1, 10am (F310) Tracy Sign ups are available on the training board next to the Computer Lab Entrance.
Or you may reply to this email indicating which classes you'd like to attend.
Thanks
| More workshops |
Hey, we are doing our own short DA rehearing petition.....gotta keep my lawyer fat and happy!
Would have called but I am numb and drooling due to a dentist visit this morning.
I wish I had some gossip but out of touch all morning!
Must start emailing around.....
Dot
| filing |
Attached is a memo outlining key aspects of the recommendation issued by the assigned Administrative Law Judge in the above-referenced case.
The recommendation is now before the full Commission, which we expect will rule by mid-October.
Please call me if you have any questions.
| FERC refund investigation into Pacific Northwest spot power sales |
Jeff, I have attached a file showing the SCE receivable amount of ($109,292,004.75) Due Enron.
This amount is net of the payments made by SCE.
A few cautions, these amounts are reported more by Enron accounting month vs. utility bill cycle month.
But at least it highlights the rapid fall off starting in the March, when most of the customers had been returned to Bundled Utility Service.
To obtain a more accurate projection of the receivable as of January 18, 2001 or at any point would require this information be sorted differently and require allocation assumptions to handle the bill cycle vs. accounting vs. PX end date.
Hopefully this will be enough to get you ready for Monday's meeting.
Call me if you would like to discuss.
FYI, I have also included information re PG&E.
If you are asked, these amounts are directly from the utility bills, not an Enron's calculation.
We have not really tried to "tie" these numbers with the utility, but in all cases these amounts were pulled directly from the utility bills.
Any errors would be due to omissions or query compilation errors.
EES could be prepared to actually reconcile these with SCE, if you give the go-ahead to do so.
Let me know what you think, or if you need anything else.
If you follow Rick's suggestion, it might be a short meeting anyway.
Wanda
| Booked PX Credits |
An attorney for Reliant sent a letter on behalf of five Southern California Edison creditors (Reliant, Mirant, Dynegy, Enron, Puget Sound Energy) to SCE today requesting a meeting to discuss the terms of a forbearance agreement.
The following is the statement we are using with the media: We are interested in getting paid and in discussing constructive solutions.
This letter is aimed at advancing that.
We have no plans at this time to participate as a petitioning creditor in an involuntary bankruptcy filing.
In fact, this letter is an attempt to avoid bankruptcy.
| Statement about forbearance agreement letter to SCE |
Jeff: Thanks again for all of your time and consideration with respect to our con= sideration of Norm Pedersen to join our Firm in Los Angeles.
I just wanted= to let you know that we decided it probably did not make sense to pursue t= hings further with Norm.
After drilling down even further, it just seemed = like we were going to run into major conflict problems down the road based = upon the CA regulatory proceedings that likely are going to arise and the n= ature of Norm's historical client base.
It also would not have been fair t= o Norm to have him join the Firm and then be conflicted out of work that he= had planned to pursue at the Firm.
I can't tell you how much I appreciate= your candor as well as your open-mindedness in helping me evaluate the sit= uation.
I really felt bad bothering you with this, but I knew you would ha= ve the best insights into the likely direction of the regulatory proceeding= s in CA and I wanted to make sure that I was being fair in evaluating Norm'= s situation and in a position to make a decision based on all of the releva= nt facts.
I also want to emphasize emphatically (if it is possible to use = those words together!)
that I do not want you to think or feel that you "ni= xed" Norm or anything along those lines; indeed, I feel quite the opposite.= In addition, from the outset, after first talking to Norm and getting a s= ense for the types of business he has been handling and the issues he has b= een pursuing on behalf of his clients, I had felt it was really a non-start= er since the last thing I wanted to do was to have LeBoeuf on the other sid= e from Enron in important regulatory proceedings for the company.
It is on= e thing to receive a waiver to represent another company in a negotiated co= mmercial transaction in which Enron is relying on another law firm, but I c= ould not see us pressing a regulatory agenda directly adverse to Enron's in= terests in a proceeding in which Enron was a major participant and which we= knew going into the proceedings at the start that our representation would= be adverse to Enron.
As Rick may have told you, there have been some situations where we have be= en adverse to the Company or at least representing clients that did not see= "eye to eye" with Enron on all of the issues.
These generally have been s= ituations involving historical client relationships that go back decades wh= ere Enron has itself been using Bracewell, for example, and Rick has been i= ncredibly gracious and understanding in not conflicting us out of those pro= ceedings.
Nonetheless, I am trying to do whatever I can to try to eliminat= e or reduce the number of those situations on a going forward basis, althou= gh I know I will not be able to eliminate all of them in light of the size = of our Firm and the diverse nature of its client base.
Jeff, I will follow up with you personally, but I just wanted to drop you a= quick note to thank you for the time and thought you devoted to this.
I'=
| Follow up |
> <<IPW100101.PDF>> > Good Morning, > > Attached, please find the latest issue of our Independent Power Weekly.
> > Summary: > 1.
IPP's Rise 3.9% Last week our IPP composite increased 3.9%, > underperforming the NASDAQ (+5.3%) and the S&P 500 (+7.8%).
Orion Power, > which was up 38.1%, was the strongest generator in the group.
AES Corp > was the weakest performer, declining 47.1%.
> > 2.
Generation Oriented Utilities Fall 0.6% Our universe of generation > oriented utilities fell 0.6%, underperforming the NASDAQ and S&P 500, > while outperforming the UTY (-4.8%).
Black Hills Corp, which was up 7.5%, > was the strongest performer in the group.
PPL was the weakest performer, > declining 11.9%.
>
| CSFB Independent Power Weekly-Issue #45 |
Hi all, We spoke to Rick Simpson in Hertzberg's office who related the following: The last meeting of Senate, Assembly, and Governor's staff was last Wednesday.
The Senate staff has been advised that the Governor is not interested in having a bill that could only pass the Senate.
He wants one that can get 41 votes in the Assembly as well, which means direct access would have to be included.
Rick spoke to Brian Kelly of Burton's office on Friday.
Brian said they are working on securitizing the interest costs.
They are looking at something like 50-60 kw for the core/non-core number which would still be able to be financed even with fewer customers, although the transaction costs would be higher with a smaller customer base.
I asked Rick if they expect all of their members to return and he said most of them would.
I suggested that it had better be the right ones, or they'd have trouble getting to 41 votes.
He said he wasn't sure at this point if a compromise bill could be ready by next Tuesday, but the Assembly is willing to try with the right bill.
I spoke to John Burton a few minutes ago who reiterated that he will not look favorably upon including direct access although he understands that some business democrats in the Assembly need it to vote for a bailout.
He said he spoke to an Assembly leader this morning who told him that even 78xx would get only 36 votes today if it came up for a vote (it squeeked through on 41).
He is considering putting up 78xx for a vote on Tuesday (it will fail) and continuing discussions with the Governor's office after that.
He said to tell you all that the bailout bill can't pass next week because it interferes with Scott and Gayle's wedding on the 14th, and coincidentally that is the last day for the Governor to sign or veto bills.
| Special Session Notes |
Hi Everybody.
You may find yourself running into to two new employees here in the San Francisco office.
Dennis Yee has taken up residency in the back, by the EES printer/fax at extension 7852.
He was in the San Ramon office, but decided to make his new home here with us in SF.
Dennis is a construction manager with the Enron Facility Services group (EFS).
Also, Anthony Barr will be tackling the task of working for me as my new clerk, please stop by and give him your condolences.
He will be sitting in the cube directly behind me, and his extension is 7818.
Please stop by and introduce yourself to both.
Thanks,
| New faces in the office |
Attached is the strawman.
Note that the Sheet 2--drops participation to bare essentials.
Sheet 3 assumes a 40% budget cut from Sheet 1.
The deleted actions are different in Sheet 2 and Sheet 3.
| Budget Spreadsheet |
Based upon the discussion in our last meeting, we would suggest the need for increased coverage of the following areas: 1.
PG&E's Gas Accord 2.
PG&E's attempt to switch backbone jurisdiciton to FERC through the bankruptcy proceeding 3.
Movement in Socal's GIR or other plans to open its backbone to firm transport 4.
Socal's RLS tariff and requests to reduce the cost allocation to that service.
5.
Socal WACOG filings, calculations 6.
Tariff changes that provide for backhaul service from SDG&E/North Baja to Socal territory Jeff - this is just a cursory list.
Our real need is to have information that comes from a proactive stance in the regulatory processes.
Please call Barry or myself if you have any questions.
Regards,
| Need for Resources |
CONFIDENTIAL Because many of the same people would be involved in the below-referenced telecons, both of which relate to developing public and gov relations strategies, some in the context of legal issues, I have scheduled a one hour conference call, half hour each for Roseville and the DC Line to SF.
I have indicated who at least I would like involved in each conversation.
The rest of you can feel free to listen on the whole thing, or drop off or call in as appropriate.
If I have left anyone out of the list, please call me to discuss, as I would like to restrict these discussions to the recipients of the email.
(Mark - if you wish Eric or Karen to participate, no problem.)
The call in number for both calls will be 800-820-4690 (passcode: 7012645#) 1:00 - 1:30pm: ROSEVILLE "Required" participants Wehn Brodbeck Jones Russeth Govenar(s) ISSUE - Butte county APCD is resisting the transfer of certain ERCs that we own from Butte county to Placer county for our Roseville project.
I want to discuss who knows who and which of them we can call to enlist support for our position.
For example, Kelly has already petitioned CARB, who have said that this is not right and will pressure them.
I will get a letter from the ISO indicating the general economic support our Roseville project will have to the area, including Butte.
Dean Russell and Rick Johnson are going to get the support of the Building Trades because of the obvious risk on jobs.
I would guess that all of Kelly's new-found farmer friends (sorry, they are called growers out here) can make a few phone calls.
I am sure that Scott and Heady can find some political friends in Sacto that we can call.
Etc.
Please come to the telecon with a list of who you have already contacted, and who we may consider contacting.
In the interest of time, I want to set the stage for giving Kelly and Sam some clear guidelines and assignments.
Then we can let them do their work and report.
And we can get on to the next subject.
1:30 - 2:00 pm: DC LINE TO SF "Required" Participants Palmer Russeth Govenar(s) Etringer Gray Dasovich Rasmussen ISSUE - As we have discussed, we are developing a strategy that, if successful, would result in a transmission line solution to SF's electrical problems.
I would like this telecon to be a kick off to discussing/developing a PR and Government relations strategy.
Each of you have reviewed my summary email of last week (I have attached a copy for Dasovich and Palmer), so I will not repeat here.
It is for the most part self explanatory on issues, status, benefits, etc.
Please bring to the telecon your thoughts.
| Public and government telecon re SF DC line and Roseville ERCs/Butte County issue |
Folks- Attached are several documents relating to the Annual Retreat to be held again at the Villagio Inn & Spa on November 14-16, 2001.
Please read the Annual Retreat Cover Memo for instructions for registration.
Also, please feel free to pass this information on to anyone who may be interested in attending our Retreat.
Please contact me or Julia with any questions.
We look forward to seeing all of you!!
Thanks,
| CESG Annual Retreat Registration Information |
Eldon is having some computer problems, so I am sending this out.
It might be a good idea to copy me on your e-mail picks this week.
NANCY.SELLERS@ROBERTMONDAVI.COM Let's hear it for the 49'er faithful!
All four of this week's winners put their money on the Niners!
1st place - NARVCO - also the ONLY person to take Baltimore over Denver!
2nd place - HANK - hey, wait a minute - he's a RAIDERS fan!
3rd place - ELDON 4th place - GROWNEY 4 more people sat down thanks to the Colts and the Jaguars: Andy, Daryl, Eldon and Kent - leaving 16 people in the pool.
Attached also is the pick sheet for "Week 5"
| Results for Week "4" and Week "5" pick sheet |
reliant guy, mike jines, called me about the deal with the cpuc.
he thinks they will get injured and that sce will just continue the same path of doing nothing for the generators and the marketers.
he wants to talk mid-morning houston time after we've digested for our view.
with the settlement of the filed rate case, what does that do for us re the ctc claim?
presumably they would pay as there would be no argument not to.
am i in the right place?
i hate to be too logical here.
jeff saw your earlier email re your discussions but i've been in another crisis.
need to decide what to do tomorrow, or, i realize, TODAY, AS IT IS NOW AFTER MIDNIGHT.
michael, can you get with jeff early and start getting our view as i finish the other crisis stuff first in the am??
?
| sce-urgent |
Colleagues: Utility Risk management positions as of October are now available at the following level of details: 1) The position by Utility 2) The position by Customer from a given utility.
2) The position by State 3) The position by NERC region 4) The Aggregates of the above per State, NERC Region, and Customer.
If you need any position for a specific utility in your service territory, please contact me, and I will be happy to provide you with the information within the same business day.
Thank you,
| URM Positions for OCT. |
As you know, the Commission last week issued several important notices and papers regarding various policy initiatives that the Commission plans to address over the next few months.
These issues are extremely important to Enron and we have been urging FERC to address and resolve (most) of these issues for many years.
There is now a Commission in charge that looks like it is ready to act, and we need to be ready to respond.
In an effort to coordinate our efforts, we have developed coverage teams to respond to these FERC initiatives.
The Washington advocacy group will also work closely with all of these teams.
If someone is interested in a particular issue and was not included on that team, please feel free to call the Project Lead to have your name added to the team.
All assistance is welcome.
As you will see on the attached chart, many of the deadlines for responding to these initiatives are within the next few weeks, so the teams need to mobilize and establish a game plan for our responses very quickly.
On the attached chart, we have listed in the left column each of the FERC initiatives that will be starting or are currently underway.
A "Project Lead" has been named for each initiative.
The Project Lead will be responsible for developing and initiating a game plan for how Enron will respond in the proceeding.
The Team Lead will be contacting each of you within the next couple of days to set up processes and procedures for moving forward.
The team will be responsible for the initial determination of what issues should be addressed, what is the best way for Enron to respond to them, and producing draft comments.
Once draft comments are prepared, the comments will be circulated to a much wider group of Government Affairs and commercial people to ensure that the team has captured all of Enron's important issues.
There is a column of "Inside Counsel" and "Outside Services."
In some areas, we plan to use outside counsel or consultants and in others we do not.
Where we do not list outside counsel, we will rely on our inside counsel to draft the comments (with significant input from the team members).
Please remember, however, that even if outside services are listed, the RCR process must still be followed.
If applicable, Project Leads should submit the necessary RCR request as soon as possible.
The following is a brief description of each proceeding and the Project Lead named for each proceeding: RTO Meetings and Comments to NOPR: Sarah Novosel and Christi Nicolay will be the Project Leads in this proceeding.
The RTO meetings will be held in Washington from October 15-19, and we hope to have an executive from Enron make a presentation on one of the panels.
Comments will be submitted to FERC regarding the appropriate market design for RTOs.
This team will also be responsible for these comments.
Standards of Conduct NOPR: Lisa Yoho will be the Project Lead.
Comments are due in approximately 45 days.
Several issues are raised in this proceeding, including a proposal to apply the standards of conduct to a utility's marketing affiliate buying and selling power to serve native load.
This is a significant action for FERC and we will strongly encourage the Commission to adopt this bold proposal.
ICAP Inquiry: Christi Nicolay will be the Project Lead.
Chairman Wood has indicated that he is not very familiar with capacity and reserve requirements, whether they are needed, and what impact such requirements have on the market.
Enron has been a strong opponent of ICAP for many years, and we plan to show FERC that ICAP requirements are not needed.
We will submit expert testimony on this issue.
California Audit and Westwide Price Cap Mitigation: Alan Comnes will be the Project Lead.
Commissioner Brownell is leading a FERC audit of the California ISO.
Although we do not have details of what the audit is intended to cover or how expansive it will be, we need to carefully monitor this proceeding and have input into the audit process where possible.
Furthermore, a request for rehearing is pending before the Commission regarding the current price cap mitigation measures.
The Commission implemented these caps in an effort to limit price spikes in California.
California's summer peaking season is over, but the Pacific Northwest's winter peaking season will be starting soon, and the mitigation measures currently in effect could discourage power sellers from selling power to the Northwest, where it will be needed this winter.
This team will be responsible for both of these proceedings.
Transmission Constraint and Energy Infrastructure Issues: Steve Walton is the Project Lead.
FERC staff is studying two significant transmission constraints - California's Path 15 and the Central East Interface in New York -- and plans to have the study completed later this year.
The Commission plans to forward the study to DOE.
The Commission stated that this is a high priority for it.
In a relating proceeding, the Commission has stated that it will hold four open meetings in different regions of the country to identify energy infrastructure issues.
The team will also oversee the progress in these proceedings.
| Teams for Upcoming FERC Proceedings |
On October 2, I, Aaron Klem and our outside attorney, Jeanne Bennett, met with other ESPs, the utilities, and the Energy Division staff of the CPUC to hammer out an agreement on implementing the CPUC's order suspending direct access (DA) and handling continued submission of DASRs.
It was news to the utilities that ESPs have many contracts -- most several years old -- that allow for addition and subtraction of facilities throughout the contract term.
The utilities had thought that cutting off DASRs would be the best way to enforce the CPUC's order without having to review contracts (which they don't want to do).
After much discussion and debate, the participants agreed to make a joint filing at the CPUC seeking quick action.
| ESP/UDC/CPUC Meeting on Implementation of DA Suspension |
Ray Alvarez brought to my attention today a news item indicating that the Congressional Budget Office released a report earlier this week entitled "Causes and Lessons of the California Electricity Crisis."
The 30+ page report is available on the home page of the CBO's web site at www.cbo.gov.
I have quickly read through the summary and it is largely favorable.
For example, the summary says: "Much of the blame for California's electricity crisis attaches to the state's restructuring plan -- but not to its objective, electricity deregulation.
(...) But deregulation itself did not fail; rather, it was never achieved."
| New Congressional Report on California |
Please review the attached filing and provide any comments you may have by COB Friday, 10/5.
The filing is ENA's comments on El Paso's proposal for receipt point allocation, focusing on discussions at the two technical conferences in the proceeding.
Also, it may be that, based on further discussion with certain other shippers, we will modify our statement in Item No.
1 to to support a different version of the method for allocating receipt point rights, but only if there is strong opposition to our method.
We don't want FERC to select the method that El Paso proposed originally.
| PLEASE RESPOND BY FRIDAY, 10/5 -- El Paso Comments RP00-336 |
With the delayed debut of the Speaker Series, we decided to start it off with a bang!
Not one great speaker, but two!
Wondering about the HP-Compaq merger?
Interested about the future of the PC industry?
Curious about Microsoft's plans?
What does Intel do next?
Then we invite you to...
The Inaugural Haas Fall Technology Speaker Series presented by the Haas Technology Club "The Future of the PC Sector and Wintel" Rich Gardner, Senior Analyst, Salomon Smith Barney & Joe Osha, Senior Analyst, Merrill Lynch
| HTC presents "The Future of the PC Sector and Wintel" |
The dial-in details for next Monday's conference call are listed below.
Please note the new number and participant code as they have changed.
Dial-in number: 877/696-8492 Participant Code: 140339 International Dial-in number: 712/421-6080 Mona Petrochko Director Government Affairs - The Americas
| EBS GA Conference Call |
Yesterday, the Federal Trade Commission issued a staff report on electricity restructuring issues.
It is an update of the July 2000 report done at the request of House Energy Chairman Tauzin and Subcommittee Chairman Barton.
They requested the report be updated.
A summary of the report and the full 80+ page text is on the FTC web site at www.ftc.gov on the upper left side of the home page.
I read the summary and will read the balance.
So far, so good.
It basically says that even states that have opened up to retail competition are in transition with a hybrid of regulation and competition, thus the expected benefits of competition have not yet emerged.
However, the report states that nothing to date indicates that competition, once the transition period is over, will not produce additional benefits for consumers.
The report's major conclusion is that competitive wholesale markets are important to achieving effective competition in retail markets.
The summary includes something that sounds promising on RTO policy, saying "And as wholesale and retail markets become regional, governing policies and jurisdictional approaches also must move in that direction for wholesale and retail competition to be successful."
| FTC Staff Report on Electricity Restructuring |
Dear All, Attached to this message is the agenda outline for our meeting in Houton TX on Wednesday, October 10 beginning at 8 AM.
I have arranged with Linda Noske for a continental breakfast to be available so we can get started promptly at 8AM and as Christi has noted, lunch will also be provided.
Any questions, please contact me.
Kind Regards,
| Western Government Affairs Meeting - Wednesday October 10 - HOUSTON |
Jeff - I will be briefing Jim Steffes with the monthly, EES/ENA update tomorrow afternoon.
I have attached the Sept. 5th report from the WSCC group below.
Would you please assist me by either adding new projects to the list, or by letting me know if there are any updates that he should be aware of.
Thanks so much for your help.
Thanks,
| Monthly Updates |
Dear EvMBA Students, Please remember to stop by the office and fill out your address update form.
Even if your information has not changed we would still like you to fill it out.
If you do not do so, we will not be able to put your information in the student directory (which will be available soon).
Once again, if you do not fill out the form we will assume that you do not want to be included in the directory.
I hope you are having a great semester so far.
Thanks,
| Address Update Form |
The Commission issued a draft decision yesterday (September 4) on DWR's revenue requirement.
While the Commission had been scheduled to vote on the revenue requirement at tomorrow's (September 6) meeting, the vote has been postponed to allow for comments on the PD.
Comments are due on September 11th.
Cmmr.
Lynch stated at her press conference held today that it was her intent to vote on the PD no later than the next regularly scheduled Commission meeting on September 20th, and perhaps earlier if a continuation meeting can be scheduled.
The PD approves the entirety of DWR's requested revenue requirement of $12.6 less the costs of certain demand side management programs which are not included as "authorized costs" under AB1X.
The PD does not follow DWR's approach of a pro rata allocation of the revenue requirement among the three UDCs.
Rather the PD follows a "cost of service" approach.
The PD allocates DWR's energy procurement costs on a geographic basis, depending on whether the energy is delivered over facilities in northern California or Southern California (Transmission Path 15 is the line of demarcation).
Energy sources procured north of Path 15 are allocated to PG&E customers and those procured south of Path 15 are allocated to SCE and SDG&E customers.
The result of such allocation is to have 54% of DWR costs allocated to PG&E, 33% to SCE and 13% to SDG&E.
Each of the UDCs are then allocated the same percentage of bond proceeds.
In revenue requirement terms this means that for the period of January 17, 2001 through December 31, 2002, PG&E is allocated $6.53 billion; SCE is allocated $4.01 billion and SDG&E is allocated $1.53 billion.
Along with the revenue requirement allocation, the PD adopts a DWR charge for each UDC.
The UDCs are directed to begin dispersing payment to DWR based on the relevant DWR charge for each kWh sold by DWR to the UDC's customer.
For PG&E this charge is 13.99 cents/ kWh; for SCE the charge is 10.03 cents/kWh; and for SDG&E the charge is 9.02 cents/kWh.
The PD also notes that given the fact that PG&E's DWR charge is !3.99 cents it may need to remit to DWR an additional 4 cents for each kWh that was provided to its customers by DWR since June 1 until this order becomes effective.
As for the necessity of raising PG&E and SCE rates to account for the DWR revenue requirement, the PD states that such a determination cannot be made until a decision on the revenue requirement for the UDCs' retained generation is issued.
That proposed decision is due out later this month.
If you have any questions or would like a copy of the order, please contact me.
Jeanne Bennett
| Draft Decision on DWR Revenue Requirement |
Per my discussion with Joseph, I wanted to pass along to you the telephone number to the conference room where Laurie and Shirleen will be meeting on Wednesday, October 10, 2001 to discuss the foregoing.
The number to Conference Room EB 751 is (713) 345-4032 - - Jeff, you should dial the conference room directly.
Thanks!
| ICSC Law Conference Meeting |
Here are the picks for the week.
If you want to use the spreadsheet to see the results of the games as they are being played, enter a "W" (no quotes) in the column above the winning team name (Row 5) and the winning points will total in Column G. You can also do points lost by unhiding Column H and entering an "L" in the column above the name of the losing teams.
Last person standing team votes are: New York Giants Oakland Raiders Philidelphia Eagles San Francisco 49'ers and Barry Bonds
| Picks for this week |
We've worked with this group in the past.
You asked for names of firms which do local government work in the S.F.
area.
I called Sam and asked if they worked with BART and he said "yes".
I did not identify the project.
Feel free to check them out if you have the need.
Hedy
| [Fwd: your client] |
Barrie was awesome!!
12 points on Arizona!!
The Bears, CLEVELAND, Seattle, Tampa Bay - that is some kind of crystal ball!
And she went from seventh to first place overall.
Winners for the week are: 1st place - Barrie 2nd place - Narvco 3rd place - Cindy 4th place - Cameron & Scott Four people sat down with their Philadelphia pick: Cameron & Scott, Hank, Mickey, and Mike & Lisa - leaves 12 standing The pick sheet for the games originally planned as Week 6 is attached.
| Results from Week "5" games |
Two questions: 1.
How do we fight the notion that a FERC retroactive determination of "just and reasonable rates" should be re-injected into the calculation of negative CTCs?
It seems to me that there are at least equitable arguments against that.
Will this be a CPUC or FERC issue?
2.
Can we use the utilities' underscheduling to push them back on this, legally or in negotiations?
Since they contributed to the market disfunction, shouldn't they have to live with the consequences?
| Negative CTC Issues |
Hello esteemed energy gurus: SVMG would like to express our thanks to those companies who have hosted our Energy Committee and Subcommittee meetings over the past months.
Our progress and successes would not have been possible without your partnership.
We are looking for locations for our committee meetings for the months of March, April, and May of next year.
If your company would have meeting space available for any of the follow dates:
| Energy Committee Meeting Locations |
Jerry, First off I would like to again commend you on your presentation yesterday.
It would be an understatement to say that the last year's worth events have been amazing at best.
As we discussed at lunch, Enron has developed a unique approach to QF contract restructuring.
The main premise is that of conducting a dual auction to determine, on a completely voluntary and open process, the QF buyout economics and the market clearing price for replacement energy.
As discussed yesterday, I am enclosing copies of the presentations made to PG&E and SCE on this topic.
I would be very interested in your feedback on this concept and on the presentations provided.
I must footnote that the economic shown in the presentations are Enron estimates.
Individual feedback, particularly in this area would be appreciated.
Jeff Dasovitch out of our SF office has been working with me on this proposal and will likely be contacting you within the next day to further discuss this idea as well as the benefits and possible strategies for initiating such an auction process.
Thanks for your time and look forward to hearing from you.
Best Regards,
| Dual Auction Restructuring |
Good afternoon committee members: Attached find the agenda for our October 17 Committee Meeting where we expect an informative and worthwhile discussion with Dr. R Sean Randolph, President of the Bay Area Economic Forum.
Please remember to confirm your attendance at this meeting so our host can prepare for your participation.
We will be meeting again at AMD in Sunnyvale from 3-5pm.
Confirm your attendance by responding to this e-mail or calling 408-501-7870.
Thank you.
Best regards,
| October 17 Energy Committee Meeting |
Since the Corporate Sponsors Reception is a new event, I am sure that you have numerous questions.
Please feel free to call or email me directly with any questions or concerns that you may have.
In hopes of anticipating some of your questions, I offer the FAQ below: WHY IS THE EVENT IN BERKELEY, AND NOT SAN FRANCISCO?
I received 43 responses from students regarding the proposed location of the event.
23 wanted to have the event at Haas, 20 wanted the event in SF.
Since this was very close to a 50/50 split we also looked at the number of students who have class on Tuesday evenings - approximately half of the student body.
Given the simple majority of declared preference and the desire to have maximum attendance, we chose the Haas location.
WHO SHOULD I INVITE?
We will be giving each student two invitations to extend to managers.
We suggest that you invite your direct supervisor and your benefits/human resources manager.
Please use your best judgement.
WHAT SORT OF TRANSPORTATION ASSISTANCE IS AVAILABLE TO MY MANAGER?
We will provide free parking to those who indicate that they will be driving to the event.
If your manager is going to join you on the shuttle bus from the South Bay, Peninsula or BART, you MUST tell us in advance so that we can ensure adequate capacity for students and guests.
Shuttle buses will run on their normal schedule - so managers using this option will commit to spending a long evening on campus.
ARE TUESDAY CLASSES CANCELLED?
No, if you have class on Tuesday, please attend your class as usual.
The reception will be during your class break.
Your managers can join you at that time, either after attending the seminar, or having just arrived on campus.
CAN I BRING MY MANAGER TO MY TUESDAY CLASS?
The program office is not opposed to this option, but you MUST tell us if you intend to do so.
We will then be able to make sure that there are enough seats for enrolled students and also that the faculty member does not object.
| Corporate Sponsors Reception - FAQ |
Jim and Jeff, I spent 20 minutes trying to open Jeff's excell attachment.
I could not.
Jeff did not incorporate my notes into his.
SO, Jim I guess you'll just have to go with the two pieces you got from us.
Sue
| Jim's requested analysis |
Bev Hanson's firm is planning an event in Palm Springs with a number of legislators on November 4, 5, and 6.
The notion is to connect legislator's directly with the firm's clients in an informal setting (with lots of golf and dinners).
We've been asked to participate.
Bev notified me of this a short while ago, and has promised more details.
I told Bev we would be interested in participating.
More details to follow ... .
| Lang Hanson |
Jeff, My colleague Joel Schwartz and I are looking for a concise summary of the typical siting/permitting process for a plant in California, including steps in the process, number of agencies, and average length.
Any ideas?
Thanks again for your great remarks last Friday; I really appreciated them.
Regards, Lynne
| Question about CA permitting process |
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