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Since the time frame is short, I wanted to give you an outline to mark up/correct.
Here's how I understand the deal: People's has the Manlove gas storage facility.
We have presented to People's a nonphysical method to monetize it, similar to what was done with Bammel.
Since this is a regulated asset, regulatory approval will be required, and the consumers will receive part of the benefit of the monetization.
The essence of our deal is that Enron will receive 50% of the net earnings, up to $25mm, as our fee.
In consideration for this fee, Enron takes the financial, legal, accounting and engineering lead.
Peoples and Enron will work together on the regulatory strategy formulation and implementation.
We want to present a draft MOU to Peoples this week.
The basic goals are: Define scope of the agreement Define our lead role in the 4 stated areas Create exclusivity for Enron Define financial arrangements (cost/profit) Get an acknowledgement that what was presented to them was proprietary, and covered by our confidentiality agreement.
Define term (5 years) Each party bears their own internal costs, and third party costs are split 50/50, with prior approval.
In that regard an immediate concern is getting the engineering work kicked off.
We want the agreement broad enough to cover physical withdrawals.
We do not want it specific to this field, since we want the benefit of the use of our methodology.
Please correct/supplement, etc.
Thanks,
| Manlove Monetization |
Hi Kay, I'm looking for CA's with Peoples.
I have one dated December 23, 1998.
Do you have anything else, especially one more current?
Thanks,
| CA with Peoples' Energy |
Hi Cheryl, I've been asked to see what I can find out about the status of the generator for the Westinghouse 501D.
I've heard stories ranging from it was on the Titantic, to it was in a rain storm.
Can you shed any light on its status?
Thanks,
| Westinghouse 501D |
Laura, Here's a draft for your review.
If you find it acceptable, it should be ready to go to Peoples as a draft.
Please let me know if you have any comments.
Kay
| Manlove LOI |
Suz, Please cancel the 930/Wednesday conference call, as we are changing the time.
Please confirm with Sheila what time we will have the call this week.
Thanks,
| GE meeting |
We had a wonderful, quiet weekend.
The wine was very good.
I drank it without food, as it was nice and light, which is how I like my reds.
It would have been good with a tomato based pasta, I think.
How do I find out how much vacation I have?
I know there's a system on the intranet.
I want to plan some time off this year, if possible.
I know how difficult it can get the longer I wait.
Thursday I won't be in until around noon.
More Michael stuff.
Kay
| Me again |
I'm going to be on this conference call (the David Tucker call) for a long time.
Would you mind getting me a Diet Coke?
I have the money in here, but I can't leave my desk.
I should have thought ahead.
Thanks!!!!!
!
| I have a favor to ask |
Hi Ben, Hope Day 1 of your daughter's illustrious academic career went well.
We are hoping to meet tomorrow at 130 Central in 38C2 to discuss GE issues.
Sheila says you won't be here quite that soon, but it would be very helpful if you could join us once you get here.
Time permitting, we can discuss the ESA transaction once we are done with the GE stuff.
See you soon, Kay
| GE meeting |
We have scheduled a meeting to address the status of our discussions with GE, and develop an organized approach to some issues.
The meeting will be held at 130 in EB 38C2.
See you then, Kay
| GE meeting |
Laura, Here's the revised version: Here's a compared version so you will know what I did: I'll work on the transfer price agreement today or this weekend so we will have something to discuss.
I'm planning on being in Chicago on Thursday if you would like to discuss any of these matters.
Kay
| Manlove monetization |
David, Please change the date on the draft so that we won't confuse it with the prior drafts.
I would delete "specifically" from 2.10 (c), and add "or later ratify such transaction" (or something to that effect), just in case they later learn and accept the transaction.
In 2.10 (x), add to "due to an inability to pay, or other credit reason".
In (y), add "or a contractual defense to payment" [could be force majeure, etc] Again in 2.10, third sentence from the end "any interest, penalties, attorneys fees and court costspayable by the Hub Shipper...; 3.3 Delete "prior" before "approval", and add "or ratification" in the redlined section on refunds.
Thanks,
| Hub agency/my comments |
Here's what's hot, what's not: Virginia Power - don't know how hot it is.
We should know more on Monday.
Chicago - just finished commenting on the Hub Agency agreement.
I would like to visit there next week.
As you know, the Manlove monetization is still on the list.
Laura sent me her comments to the LOI yesterday - relatively mild, so the LOI should be going to Peoples in the near future.
You have the list that Gregg prepared on commercial/legal to do's, and he and I will work on those things next week.
LM stuff.
General consulting business; form 97-10 EPC for affiliate, form GE contract (drafted by AK) on the list.
ESA/ENA turbine sale.
Sent Ben a draft MOU.
Not a time hog.
Miscellaneous development stuff - land options, etc, for Fred and Rusty.
Not very time consuming.
Opps, I'm late for a meeting!
I can give you whatever details you need.
All things considered, I'm in pretty good shape.
Kay
| Current stuff |
Hi Nancy, We are getting geared up to look at the interconnection agreement and work on the land lease.
Just thought you might want to put it on the list of fun things to do in the future.
Kay
| VEPCO |
I'm working on the agreement, but since it is taking longer than I had hope= d,=20 I wanted to send you my understanding of the basic premise for your input.
= =20 I'll continue to refine/integrate this into a real document while you revie= w=20 the important stuff: Hub Services.=20 =01&Hub Services=018 include (a) transactions entered into by MEH or the PG= L HUB=20 which are subject to Peoples' Hub FERC operating statement, and (b) all=20 physical transactions which require the use of the Manlove or Mohammad fiel= ds=20 (also known as =01&exchange=018 or =01&enhanced hub=018 services).=20 The profit [what is profit?
Obviously before tax, but otherwise a GAAP=20 standard?]
from Hub Services shall be split as follows: ?
For transactions entered into between February 15, 2000 through September= =20 30, 2000, the profit shall be equally shared.
?
For transactions entered into from October 1, 2000 to September 30, 2001= =20 (and successive years until September 30, 2004), Peoples will receive the= =20 first $4 million in profit (cumulative, not annual), and will Enron receive= =20 the next $1million in profit.
For any profit exceeding $5 million, Peoples= =20 and Enron will share any on a 50/50 basis.
This arrangement excludes all agency fees paid to MEH.
These fees will be= =20 shared 50/50 from the inception.=20 All internal costs incurred in the normal course of business will be borne = by=20 the party incurring same.
All third party costs will be shared equally, and= =20 require MEH board approval.
PERC Peaking Agreement PERC has contracts with PGL and with NICOR contracts relating to the=20 ethane/propane peaking facility.
The two existing contracts pay a total of= =20 $2million (approximate or exact) in demand charges annually.
Any profit=20 exceeding $2 million in a year will be shared by Peoples and Enron on a 50/= 50=20 basis.
If either of these contracts is extended in any form other than the current= =20 form, then Peoples and Enron share the demand charge and the profit on a=20 50/50 basis.
Other Transactions=20 Peoples and Enron will split the profit from any transactions other than=20 those described above on a 50/50 basis.=20 Kay
| Transfer price agreement |
I'm not particularly wild about many of the changes proposed by GE.
Seems that it would be a good idea to get a consensus on how to respond.
Here are the issues I see: Indemnity issues: They should indemnify us from claims by their employees/subcontractors.
Indemnity should be triggered by strict liability as well as negligence.
What is a cognizant government?
Limit of liability issues: They want to limit their indemnity obligation to 100% of purchase price.
They want the limit of liability to apply to gross negligence, if possible.
They don't want to clarify that they have to indemnify us for another party's claim for consequentials (as in a personal injury claim).
We've don't have anything concrete on assignment yet.
Comments?
Sheila has asked that we change Wednesday's call to 1100 Central, or 100 Central if 1100 doesn't work.
Is this a problem?
Kay They should have to
| GE Language |
Hi there.
I changed our SF appointment to 900 on Friday.
We have not been successful in getting a hotel room anywhere close to where we are going.
There is some big fashion convention in NY, and the rooms are booked as far away as Danbury, Connecticut.
Wild, isn't it?
Heather says there is a chance that we will fly out tomorrow, spend tomorrow night in NY, then I can fly to Chicago Thursday am.
I still plan on flying back on Thursday pm so that I can make that 900 appointment.
That may mean taking the midnight flight, but what the heck.
I'll keep you posted.
Kay
| Travel plans/St. Francis |
It currently appears that I will be on the road Wednesday and Thursday.
Figures!
I am going to send you a copy of the marked up interconnection agreement, which has comments from various Enron people.
I thought it might help you think about which way to head.
I would appreciate receiving an electronic file of the IC you prepared.
Talk to you soon, Kay
| schedule |
Here's a draft.
More names are being added, so feel free to suggest more that we forgot/overlooked, including those external to Enron.
Please send the info directly to Suzanne Adams.
Lisa, Mitch and Chris, you will be on the next draft.
Sorry for the oversight this time around.
Thank you,
| VEPCO contact list |
I'm either losing my mind or my email.
Did you send me an email re GE?
I thought I saw one, but now I can't find it.
Is that a trick, and if so, how do I do it?
Could you resend it, please?
Thanks,
| Sanity check |
Ben, We have a draft of the VEPCO "standard" interconnect, which has been internally reviewed by Mitch Robinson and Christi Nicolay.
Would you like a copy?
Nancy Wodka (Bracewell & Patterson, DC office) is outside counsel working on it as well.
We have had no substantive discussions with VEPCO about this agreement at all.
Let me know how you want to proceed.
Thanks,
| VEPCO Interconnection Agreement |
Laura, Here is a draft transfer price agreement: I'm sure we may want to add some details, etc, but at least this gives us a beginning point.
I'm hoping that you received the revised draft of the Manlove LOI on September 8 which incorporated your initial comments to the first draft.
We can discuss what you see as the most efficient path forward, and any additions, etc, you think are necessary.
I look forward to seeing you on Thursday, and breathing some cooler air for a change.
My cell phone is 713 304 8716, should you need to reach me in the meanwhile.
I will also be checking my voicemail, but will not be picking up email.
Kay
| Transfer price agreement |
I'm walking into the lion's den on Thursday (a/k/a Chicago) to discuss various matters.
I know Laura is anxious to move forward on the Manlove deal.
I thought it might be really neat if we (Legal) could have a game plan for this deal, described by Laura as being "like the Bammel deal".
If I can get Laura to commit to a time, how about a conference call to discuss where to go with this?
I'm taking the long way to Chicago (via Connecticut), but will be checking voice mail, etc.
Thanks,
| Manlove monetization |
Revised draft.
Da Bulls toner is low, so the draft doesn't look good, and I don't know where the others print.
Guess I could just listen for it...
| Manlove |
Hi guys, Just wanted to check to see if there is a "go by" affiliate EPC contract, destined to be 97 10 compliant?
I'm ready to start working on it from ENA's standpoint.
Thanks,
| 97 10 form epc contract |
Here at Enron the lawyers generate risk memos in connection with transactions, summarizing the more important legal risks in a deal.
I've been taking notes along the way, but I will be asking you for your thoughts here shortly.
A discussion will be all I'm looking for at this time.
Thanks,
| VEPCO |
How does everybody look for a discussion concerning the VEPCO interconnection agreement on Tuesday, Sept 19?
I've checked with Christi, Mitch and Reagan, so they don't need to confirm.
Details to follow...
Thanks,
| VEPCO interconnection agreement |
Hi Sheila, Shall we try to get the Enron groups together to discuss the approach we want to take with GE in our next phone call?
If so, please advise of any time you have available on Monday, and I'll get it set up.
Thanks,
| GE Meeting/ premeeting |
Lisa Bills and Brian Barto are also invited.
I haven't heard from anyone yet.
Please call the list around 200 to see if people are available.
Also, can you find a conference room?
Thanks,
| Tomorrow's GE phone call/ TODAY's meeting to prepare? |
This is the most current information I have on specifications.
I sent Ben and Mike an email about the 12th slot, but haven't heard from either one of them.
By the way, I was asking about whether the changes I had suggested for the transformer contract had been included in the Calumet equipment purchase terms, as I was confident the changes are in this agreement.
Kay
| Option Amendment |
Hi Sara, I believe we still have an interest in using an Enron form as a go by for the Enron/Peoples activities.
If you can give me what you are comfortable with, I will make sure it is transmitted with the appropriate caveats, confidentiality restrictions, etc.
Thanks,
| ISDA for Peoples/Enron activities |
Hi Cle, We need a revolving loan agreement between Midwest (now enovate) and Enron.
Please call me at your convenience to discuss (713 345 7566).
Thanks,
| Enron/Midwest Energy Hub |
Hi Allyson, Someone was asking which of the information we have filed is public information.
Is the petition itself public?
What else would be public?
I know this is a variation to the "what is confidential" question.
Once again, your assistance is appreciated.
Kay
| CPCN public information |
This is a very rough draft based on an agreement done previously with a jv company.
I'm sending it for Enron review only, since I haven't even read the entire thing yet.
I thought you might want to take a look at it to see what you think, and to consider the scope of the services to be provided.
As for legal services, one alternative would be to have the services provided by an outside law firm, not associated with either principal.
Could you forward me what you received from Clement regarding the corporate guaranty issue?
I would like to see what's the latest in that regard.
Thanks,
| Services agreement |
I think all of us who deal with assets are running across confidentiality hurdles in all kinds of agreements, including confidentiality agreements.
In short, our business people need the ability to disclose agreements to potential purchasers of projects, contracts and assets, and not all of our forms allow this.
I'm trying to include an exception for "potential lenders and investors" whenever I can (instead of just lenders).
Does someone have a more artful or effective solution?
Just wanted to share the thought so that more eyes could be watching for the issue.
Kay
| Confidentiality provisions in various forms |
Hi Guys, I'm trying to figure out what info we submitted from which turbine contracts.
Could someone please identify the contract and what was sent to Allyson?
Thanks,
| VEPCO CPCN proceeding |
I need to set up a conference call with the outside lawyer who will be drafting the lease (and other docs).
Who would like to participate in the call?
How about Thursday am?
Thanks,
| Edgecombe land lease |
Hi Sheila, I'm happy to take care of this, I just want to make sure I'm not stepping on anyone's toes.
Is anyone else working on this?
Kay
| ENRON LETTER OF CREDIT REQUEST |
What do you think of this?
(sorry it isn't redlined yet) (b) Intra-Day Scheduling.
Buyer may, upon at least four (4) Hours minimum= =20 advance notice to Seller, request changes to a Schedule by way of an=20 Intra-Day Schedule Notice.
Any such changes shall be in increments of at=20 least 50 MW and may not exceed the Contract Capacity nor reduce the Schedul= e=20 to less than four (4) Hours.
If the Intra-Day Schedule Notice requires an= =20 increase in the Scheduled Energy per the Day-Ahead Schedule Notice, Seller= =20 shall, at its sole discretion determine whether to dispatch the Facility or= =20 provide Energy from Market Sources.
Seller shall use commercially reasonab= le=20 efforts to provide Buyer with a price to accommodate Buyer=01,s Intra-Day= =20 Schedule Notice.
Such price shall include lost profit from any transaction= =20 which would be cancelled in order to accommodate Buyer=01,s Intra-Day Sched= ule=20 Notice, plus all additional costs (whether direct or indirect); provided,= =20 however, that such costs shall be limited to costs actually incurred by=20 Seller (including cost of cover, penalties, liquidated damages, cancellatio= n=20 charges or the like due to another Person) with respect to (i) transactions= =20 entered into by Seller with other Persons prior to receipt of Buyer=01,s=20 Intra-Day Schedule Notice (provided that such transactions and the terms=20 thereof can be verified in an audit to be performed in accordance with=20 Section 8.3, (ii) transactions that must be entered into by Seller in order= =20 to accommodate Buyer=01,s Intra-Day Schedule Notice or (iii) extra costs=20 incurred in operating the Facility to accommodate such notice.
For the=20 avoidance of doubt, such costs shall not include Seller=01,s lost opportuni= ty=20 costs with respect to transactions that Seller may have been able to obtain= =20 but were not entered into by Seller prior to receipt of the Intra-Day=20 Schedule Notice.
If Buyer accepts Seller=01,s price, then the Schedule sha= ll be=20 revised to reflect the changes.
If Seller is unable to accommodate Buyer=01= ,s=20 Intra-Day Schedule Notice, such Hours shall not be included as Scheduled=20 Energy for the purpose of determining the Forced Outage Rate.
Seller shall= =20 have the right, but not the obligation, to resell any Energy not taken by= =20 Buyer due to a decrease in Energy pursuant to an Intra-Day Schedule Notice= =20 provided, however, that the revenues from any such sales will be offset=20 against the additional costs to be charged to Buyer as provided in this=20 Section 3.4(c).
(d)
| VEPCO scheduling |
This Friday - Michael goes for a visit at St. Francis, which may be his new school (so far, so good).
I'll be in around1000 Most Fridays I'm going to TRY to pick Michael up since I'm away so much, which means leaving by 445 or so.
October 4, ENA orientation in the am.
October 19/20, Neil is out of town, so I have to pick Michael up from school (leave at 430) October 26/27, hope to be vacation time.
Neil has a meeting in San Antonio (usually it is in Miami, San Francisco, Phoenix - not so great this year).
It is the officer's meeting for Enterprise, and spouses are invited.
This means we won't be in town for the Compaq thing.
Figures, of course.
Thanks for asking.
I'm watching for some good vacation days, also...
| Dates to remember (not the single kind...) |
I have a couple of questions so I can wrap up the LOI: We refer to licensed Fuel Cell Energy equipment.
Do we intend to reference a particular manufacturer, or should this be more generic?
Do we want to attach a draft of the Development Agreement, and condition the final deal on agreeing to terms substantially the same as what's in the draft?
I have a concern that the Enron optionality bug could bite us on the backside with that one.
Do we expect to have ONE EPC contract, or several?
I'm looking for the confidentiality agreement, which may be in Bart's files (haven't checked closely yet).
If anyone has it handy, it could speed things up for me.
Thanks,
| CRRA LOI |
This is the one you looked at and left me comments.
Your comments aren't in this draft (timing), but I want to pick them up in the next go round.
When we get together to discuss stuff, maybe we can review this.
It is difficult to get your comments over voice mail, as I'm just not that quick!
Kay
| TITAN-LEDFORD comparrite.DOC |
Matt, Since so much of this related to tax, I thought you should have a look at it.
Rusty/Fred, I'm not sure of the context of the presentation of the information.
Is this something which is going to the public, or to the governmental entity involved?
If there is something which will be distributed to the public, then we should consider having Enron's PR group bless it.
Kay
| Enron - Livingston County PRIVILEGED AND CONFIDENTIAL |
Hi Dan, One more thing I want to mention.
As you know, Enron has a confidentiality agreement with a competitor of Fuel Cell (I believe it is ONSI).
The agreement has an exclusivity arrangement, which prevents the other company from chasing certain transactions without Enron.
Once we really know what we are going to do with FCE, will it be necessary/advisable to waive the exclusivity provision to avoid any restraint of trade arguments?
FYI, When I last discussed the other company with Ozzie and Heather on Friday, they were planning on calling the other company to tell them the general status without violating confidentiality obligations to FCE or CRRA.
I will follow up to get the details of the discussion.
Kay
| FCE/Confidential |
Has anyone given any thought to the creation of a new company to enter into the CRRA/Fuel Cell purchase/sale transactions?
Any names to suggest?
If Enron is going to be the contractor as contemplated by the PDA, I would expect to use a limited liablity company and not ENA.
Please advise.
Kay
| Entity to enter into PDA with CRRA |
In connection with the attached, please note the highlighted language at the end of the document.
We couldn't decide what it means, so it needs to be re-written or deleted.
The party we are contracting with is Virginia Power, not NC Power.
If we misstated this previously, we would like to clear it up now.
Thank you,
| Rebuttal Testimony |
Heather, This is a rough cut of a services agreement.
Since the loan agreement, services agreement and LLC agreement are all pieces of the same puzzle, I thought I would send it your way.
Kay
| Services agreement |
I working with outside counsel to get a draft of the revolver prepared.
She (outside counsel, Heather Brown) has summarized the information I have given her as follows (see below), and I would appreciate your input as to whether it is accurate.
Once we get a draft we can sit down and discuss it, and make sure we are on the right track.
I believe Gregg said that this needs to be in place within 2 weeks.
Thanks,
| Revolver for MEH (now named enovate) |
With a typical contractor a tight schedule usually increases the cost.
You might check to see how much a delay in COD to, say Aug 1, might lower the cost of construction.
Not to say that it will, but it might.
| NEPCO price |
Hi Paul, I've been reviewing the draft facilities agreement, which is now getting to be a hot topic.
One thing to keep in mind is that we would really prefer that the facility agreements not refer to the May 12 agreement, if this is possible.
Could you please give this some thought and review the document with this in mind?
I look forward to discussing this with you soon.
Thanks,
| GE Facilities Agreement |
Hi there.
I made changes in accordance with our meeting on Friday.
Please let me know what other changes you would like to see.
Thanks,
| Letter agreement re LM 6000 |
Here is the ABB contract you referenced in your email.
I am working on a 97-10 compliant EPC contract for NEPCO/EECC.
However, I wonder about the challenges presented with the need for NEPCO to enter into subcontracts and purchase orders which preserve the accounting treatment all the way down the line.
This is a very tall order given the contracting environment.
Your email is an excellent description of the challenges of doing a deal off the balance sheet, and worthy of further discussion.
Kay
| ABB Purchase Agreement - Final Version |
Roxanne, Thank you for calling last night.
We took Michael out for dinner to celebrate his first day at SF, and missed your call.
Michael had a great first day.
All the kids drew portraits of him, and he got a big kick out of it.
I noticed on the class list that you live in Spring Valley.
We live on Inverness Park Way, and used to live on Cedarspur a few years back.
It is nice to know that Michael has a classmate in the neighborhood.
Again, thanks for calling.
| St. Francis |
Warning: I have not even opened this to see how it looks.
The goal is to delete the reference to WestLB and the master agreement, so I know there is work to be done along those lines.
At least this is a start.
Kay
| Agreement |
This is for the PSCO project, and Ben wants Chris to sign it.
I'm thinking that this is Dale's project, so I'm sending him a copy.
If it looks ok to you I will clean it up and send it to GE for their review.
Kay
| Revised Change Order |
Here is the current rev of the EECC "standard" form which I am reviewing/massaging in connection with the 97 10 exercise.
It includes the exhibits, where I think you can find something useful.
If this doesn't help, please let me know and I will check elsewhere.
Thanks,
| Form Contract, Rev Minus 1 |
There's a rumor going around that you are signing up people for the pilot= =20 program.
If true, I would love to volunteer, as I work at home frequently.
Thanks,
| A Computer and Internet Connection for You and Your Family |
Gregg, It is my understanding that Enron and Peoples intend to discuss the most appropriate form of ISDA documentation for enovate to use.
Peoples has forwarded a form for our information, and we would like to reciprocate.
Therefore, attached per your request are sample ISDA documents as a starting point for discussions.
Since these are forms, there will certainly be aspects which will need revision based on discussions between Peoples and Enron.
These documents should be treated as confidential.
Kay
| ISDA documents |
Deb, I'll get you the particulars, but you get the general idea.
I'll have to check on the expense account stuff.
Kathleen, you haven't done any thing with this request yet, have you?
Could you get the names of the active development companies so that we can address those, as well as ENA?
Thanks,
| Signature authority |
Tom, I received an e-mail from Linda Carter asking about certification.
I assume you will get a schedule tonight at the meeting.
She was asking about David, her son, being certified this year.
The way I read the new rule, is that you have to be 19 to be certified.
I told her I would ask you to ask about that new rule at the meeting tonight to be sure we understand it.
It is posted on their website www.nwal.org .
Lyne
| NWAL Meeting |
Oops.
Can you forward my response to Margaret to her.
I sent it to you by misstake.
Tom Tom- I read the e-mail Margaret and you wrote to each other.
It does not really matter, but just so you know, the situation I was talking about the private room was for my Mom not my Grandmother.
It was at Vosswood after her surgery.
Lyne
| St. Dominics |
Ed,=20 ENA has acted as agent for Tenaska IV , a generation facility in Cleburne, = Texas, in which , Enron has ownership interest.
Our role was to manage the= fuel requirements for the plant.
This includes scheduling, invoicing, and= settling the natural gas supplies and transportation.
In addition to the = daily activity, ENA has the responsibility to sale any excess fuel from the= baseload supplies and purchase an additional fuel needs.
Any profits/loss= es are passed on to Tenaska IV.
ENA is just paid a monthly fee for the ser= vice.
Rick Hill is my contact person for the project.
He is looking into f= inding another party to handle this fuel management responsibility.
If he = can't find a party willing to do this under similar terms, we will need to = find some one with the Enron estate to handle this.
The problem with Enron= continuing in the role is the inability to transact in the gas market (no = customers willing to trade with us).
So, the project is losing value.
Ple= ase give me a call when you get a chance.
Or, maybe we can meet sometime n= ext week to go over this.
My schedule is pretty flexible.
Daren 3-6905
| Tenaska IV Agency Agreement |
Please attend a meeting at 2:00 pm today in room 6980 to review proposed retention payments.
If you will be dialing in, please call 1-800-711-8000, passcode 33256.
If you are unable to attend, please contact Jeanie Slone or Amy FitzPatrick.
| Retention Payment Review Discussion - Commercial Only |
This has got to be the last time.
Tomorrow morning a new team will arrive for due diligence purposes.
Tom Martin will be hosting this team The Schedule outline is based on initial overview discussions/presentations and then more detailed discussion can occur in individual groups the outline is as follows.
It may be better to split up earlier but I leave all those decisions to Tom .
9:00 Introduction John Lavorato & Louise Kitchen 9:30 Financial Overview Wes Colwell 10:00 Risk Overview Buy / Port 10:30 Credit Bradford 11:00 Back Office Beck/Hall 11:30 Systems (EnronOnline) Jay Webb 12:00 Mid/Back Office Systems Jay Webb 12:45 Infrastructure Jenny Rub / Bob 1:15 HR Oxley Afternoon Dataroom and Trader discussions Please make yourselves available.
Tammie - please check availability.
Thanks for your continued understanding.
| The Maple Leaves |
Hey Gang, Attached are the physical curve mappings as provided by Russ Severson...
Please take a peek and let us know if we need to change, add/delete, update any points/mappings going forward in a Netco environment... For instance, I would like to change Texoma to Carthage on the curve mappings... Also, I would like to delete all derived curves, leaving only Carthage, KatyTailgate, and Agua Dulce.
The other physical locations would be ShipChannel, Waha and Katy (non-tailgate)... Let me know your thoughts... O'Neal 3-9686
| Physical Curve Mappings_Sitara |
The first file is the Customer list from the Texas region perspective.
The second list is the one from Barry that I have input phase 1 and 2 numbers for several companies based on the Texas region list and based on the companies that had already been chosen.
Let me know if you have any questions.
Thanks,
| Customer List |
Good news for Body Shop members!
The Body Shop will reopen Monday, January 7, 2002.
While we recognize that the Body Shop is a tremendous asset to all of our employees' health and wellness, we must reopen it without an Enron subsidy.
Therefore, the membership fee will increase from $25 to $30 per month for all Enron employees and contractors.
Spouse memberships will remain at $15 per month.
Locker fees will remain at $10 per month and members may keep their current locker.
(If you emptied your locker after the Body Shop closed in December, please notify the Body Shop reception desk that you would like to reoccupy it.)
The overall price increase, coupled with reduced expenses, will enable the Body Shop to reopen and remain open on a cash-neutral basis to meet creditors' requirements.
Payroll deductions will be reactivated with the January 15th payroll and will include the increased fee.
If you do not wish to continue your membership, please contact the Body Shop to cancel your membership via email only at <mailto:Body.Shop@enron.com>.
Membership information and enrollment forms can be accessed below: The Body Shop's new hours will be 6:00 a.m. - 7:00 p.m. Monday through Thursday, and 6:00 a.m. - 6:00 p.m. on Friday.
Saturday hours are not offered at this time.
Although laundry service has been discontinued, towels will continue to be available for your convenience.
Once the ongoing membership base and associated revenues have been stabilized to support staffing and housekeeping, exercise classes will be scheduled.
We anticipate exercise classes to be available within a few weeks.
Massage therapy services will continue and are available by appointment by calling extension 3-3047.
Whether you are a continuing member or considering new membership, there is no better time for you to take advantage of the Body Shop and to take care of your personal health and well being than right now, at the beginning of 2002.
Your continued support is greatly appreciated.
| FROM CINDY OLSON, COMMUNITY RELATIONS: Body Shop Reopening |
Attached is a listing of the top 200 customers on EOL ( as provided by Dave Forster's EOL Team).
We have gone in and started to cross reference the customer overlay to determine who the PHASE 1 ( top 10 or 15 ) target customer identified as the most important for each business unit/region.
Can you please add your input for your region first thing on Friday A.M.
Thanks and if there are any questions, please give either Frank Vickers or myself a call.
BT
| EOL Customers.xls |
Tom, Laura said you just left - sorry I missed you.
Please see the attached schedule for the reductions I made to Employee Expense, Outside Services and Rent.
If you have a problem with any of these or want to discuss further, give me a call tomorrow.
Laynie x3-3131
| Revised 2002 Texas Trading Business Plan |
This is an updated business plan based on some information that Tom provided to me.
This also has the budget in the excel that Tom provided.
If you have any questions, please let me know.
This will continue to be a work in progress.
Thanks,
| Revised Business Plan for Texas |
I remember that the last time I tried to send you this org chart, we had some problems opening it.
I printed it out, just in case it happens again.
I really can't remember if you were ever able to open the file at the end of everything or not.
Anyhow, I'm coming over with the hard copy in just a second.
Laura
| Org Chart |
Here is the Texas - Trading budget based on the 5 people.
Please let me know if there any changes you would like to make.
Thanks,
| Netco Budget |
Tom - Here is the 2002 plan we worked on prior to the bankruptcy filing.
Also, the two logistics employees you mentioned are included with Bob Hall on the file David sent you earlier.
Laynie x3-3131
| 2002 Texas Trading Plan - PRE-BANKRUPTCY |
Tom and Hunter, I am an Associate working in Don Miller's ENA estate management group.
British Petroleum has inquired about Enron's existing Firm NG Transport Contracts and available storage contracts.
They specifically listed these types of assets as ones that BP would be interested in looking at buying from Enron.
Can the two of you get back to either Stuart or myself with respect to what is available and some indication of pricing for these assets.
Thanks.
Regards,
| Firm Transport Contracts and available storage space |
Tom - I was going to talk to you today, but I had several meetings that came up regarding the bankruptcy with the creditors and accounting.
I think we need to plan for Dave going into the commercial organization.
As much as I like Dave's help, I just don't see how we can work out the controls aspect of this.
Also, it puts a dynamic into my group that has not been very positive.
Where some people feel like Dave is at an advantage to everyone else.
I think in the end this will be better for all involved.
If you have any further concerns, please talk to Bob Hall in the morning as I will be out of the office.
Again, I would like to have talked to you in person, but by the time I got done with my meetings you were not around.
Thanks for working with me on this.
Jeff
| Dave |
Tom, Attached are EOL customers between July 1, 2001 and Nov. 30, 2001, broken out by Physical and Financial...
The only physical customers I remember non EOL are Imperial Sugar and Texas Energy...
I'm also checking this list against other non-EOL deals Eric or Joe might have done, but for now take a look at this... O
| Customer list |
Faith, Attached is the 2001 Plan Summary Schedule for Louise Kitchen with all updates in for all regions within the Natural Gas group.
Please let me know if you have any further questions.
Thanks,
| 2001 Plan Summary Schedule |
Tom, Thanks for taking the time to speak with me yesterday evening regarding the opportunity on your desk.
I am currently reviewing several internal opportunities and returning to my gas roots is certainly a consideration.
I currently work for Doug Gilbert-Smith our Long Term ERCOT trader and run the Real-Time ERCOT book.
I believe you know Doug who uses Eric to help us lock in forward heat rates at times.
Doug is aware of my desire for change, and he is discussing with Kevin Presto other opportunities for me to stay in power, however, I will look at all my option and be making my decision based on what I feel to be in the best interest of Enron and myself and my family.
Please review my resume and I would be happy to sit down with you to discuss my goals and why I am currently seeking a change.
For your convenience, I have also included a copy of my 2000 performance review.
Sincerely,
| my resume |
Attached is the phone list for the HPL people ... it's a preliminary one, but it's the only one I've gotten my hands on so far.
This is just for now.
Laura
| HPL Phone List |
Tom, Lamphier and Wallis had orig during the 1st Qtr but was classified as Gas Assets and not Middle Mkt Texas.
These two have been classified as Gas Assets for quite a while now (back to Jan 2000).
Danny and Elsa did not have any orig during the 1st Qtr.
Dave
| Origination 1st Qtr |
Hello everyone!
Just wanted to send a quick note to let those of you who don't know already that I will be moving into a new position within the next week or so and will no longer be the Reporting Contact for the Natural Gas Teams.
I am moving over to manage the Reporting Groups for the Back Office and Group Teams.
Please welcome Laynie East as my replacement.
She can be reached at X3-3131 and you may begin calling her with any Natural Gas Team related needs immediately.
I will certainly be assisting in the transition process and will assist her with any of your requests on an as needed basis for a while.
Please forward this note to anyone in your groups who may need this information.
It has been a pleasure working with each of you over the last several months.
Thanks,
| New Reporting Contact for Natural Gas Teams |
As of today May 9, 2001 Bammel has working gas of approximately 20.3 TBTU.
Economics are favorable to keep injecting.
I estimate that injections will average around 1TBTU per week through May 31, 2001 which would result in another 3+ TBTU beibng injected.
At the current pricing level this means that AEP would owe Enron somewhere around $98 million.
Is this something Accounting should be working into the AEP settlement to pay Enron on June 1, 2001?
Should AEP be notified of the volume and approximate value.
Is there anything that needs to be done contractually other than the original agrrement to facilitate this transaction?
I just wanted to make sure everyone is aware!
Please let me know your thoughts.
| Bammel Working Gas Sale To AEP |
Attached are the disclosure schedules to the Purchase and Sale Agreement with AEP.
I have also attached the portion of the PSA that contains the reps and warranties to which the schedules relate.
Please review the following schedules against the reps and warranties to which they relate and let me know if any changes or updates need to be made.
This is necessary to comply with responsibilities to update these schedules prior to Closing.
I would appreciate your response by Friday morning.
If you have any questions please call me at ext.
35465.
Thank you,
| Houston Pipe Line |
Tom: Your ICE access has been completed: User ID: thmartin Password: spinit32 Please contact the ICE help desk at 770-738-2101 should you have any questions.
The answer to your secret question is ASTROS.
Let me know if you have any questions.
Thanks,
| IntercontinentalExchange - Tom Martin |
Please mark your calendars.
The ENA Commercial PRC meeting will be held on JULY 9.
This meeting is by invitation only.
Substitutions or Additions will not be permited without the permission of John Lavorato.
Further information will follow.
| Commerical PRC Meeting Date |
Tom, Your Ice ID should be working now, however the aventail log in is not.
Please use the following Aventail login until they have this issue resolved: User ID: production Password: bug1fox9 Your Ice login: User ID: thmartin password: spinit32 Please let me know if you have any questions.
I will let you know as soon as ICE has the Aventail login working appropriately.
Thanks,
| IntercontinentalExchange - Update |
Confidential - Attorney Client Privlege Please give me your thoughts on the attached proposal to resolve the "dangling chads" with AEP.
I have attached the proposal and a "value analysis" of the proposal, both of which I propose to send to AEP.
The key benefits of the proposal from Enron's perspective are the following: 1.
Removes us from the vagueness and uncapped exposure of the Ducote deal with Entex for additional costs.
AEP can capture the economics of future gas deliveres to Entex associated with this capital expenditure.
2.
Captures the leverage that AEP will have in the Entex audit.
I think for ENA to pursue Entex would be difficult/time consuming and may lead to a tortious interference suit from AEP.
3.
Gives up the interest payment we think AEP owes us.
This is true value we are giving up, but do we really want to fight with AEP in court over this (to the extent they are not bluffing)?
4.
Removes us from having to process imbalances - saving manpower costs and further removing us from hassles with AEP.
AEP is better able to capture value from these imbalances then we are, since they have the pipe.
5.
Gets us out of the Coastline law suit.
I'm pretty sure Coastline is at least owed the $1.4MM that we would contribute.
AEP has a chance to minimize any further costs, which are capped by the value of the claim at a further $2.2MM.
Please do not circulate this.
Thanks,
| CHAD - Attorney Client Privlege - Confidential |
Tom, As I stated earlier, we have not given much thought to an LNG terminal in the Freeport area as we anticipated that the basis market would be in the minus $.20 range.
If you add the $.05 to $.10 to build a pipeline from the terminal to an interconnect, such a project has trouble competing with others on the table.
After talking with Daren and yourself, it may well be worth doing some more research to get better projections of what those numbers might be.
I would like to take this further and stack such a project up to others we are evaluating.
As you stated, we need to do a better analysis of the pipeline situation in the Freeport area to evaluate the economics of the project.
Please inform me as to if and how we should proceed with this matter.
Thank You,
| LNG Terminal in Freeport |
Attached hereto is the certificate that must be signed by each of you in connection with the sale of Houston Pipe Line Company to AEP.
As outlined in my earlier e-mail message to each of you, this certificate is your confirmation that you have reviewed the Disclosure Schedules to the Purchase and Sale Agreement and that you have notified Brian Redmond in writing of any additions or corrections that should be made prior to the Closing.
The certificate also confirms that you have provided relevant portions of the Disclosure Schedules to the Key Employees listed on Schedule II and asked them to also notify Brian Redmond of any additions that are required.
Please execute this certificate where indicated below and return it to Anne Koehler no later than Thursday, May 31, at 12:00 noon.
If you have any questions, please contact Anne Koehler at #33448 or Barbara Gray at #36832.
| URGENT RESPONSE REQUIRED |
Begining 6/4/01 most North American Gas and Power quotes will be displayed on and transactable from the TRUEQUOTE trading platform.
Please call me if you have any questions or need more information.
Thanks.
Savita X31787
| EnronOnline Quotes on TRUEQUOTE |
All, Thanks for your particpation in last week's trading track.
For your information the following people will be extended offers to join the program later today: Seung-Taek Oh Charles Weldon Bryce Schneider Biliana Pehlivanova Wes Mitchell Darren Espey Emil Carlson John L will meet with Justin O'Malley tomorrow am for a final interview.
For those internal candidate who were not sucessfull I will call them.
Rgds, Karen.
| Trading Track |
Please review and verify the attached spreadsheet.
Make any corrections to employee info in RED on the spreadsheet As we will not hold a pre-ranking meeting, please provide a pre-rank of 1-5 (see attached rating descriptors) for each employee.
COMMERCIAL: Commercial employees are identified by a C in the Peer Group column You should be prepared to represent these employees at the July 9 Commercial PRC meeting COMMERCIAL SUPPORT: Commercial Support employees are identified by a CS in the Peer Group column Non-exempt employees (Clerks/Adminstrative Assistants/Coordinators) will not participate in a PRC meeting.
Your ranking on the spreadsheet 1-3 (see attached rating descriptors under Job Group Participation) will be the final ranking for these employees Note: If your employees used the PEP system to do a self-evaluation, it is important that you review the accomplishments section of the self-eval prior to attending a PRC meeting.
This information will be available to display on the screen during the meeting.
If you have any questions, call me at 5-3847.
Please send the completed spreadsheet to me no later than MONDAY, JUNE 11.
| Important PRC info-Read and Respond by Monday, June 11 |
All, We currently have 7 associates and 2 analysts yet to place in ENA.
These A&A are new hires and will be joining Enron in August.
Please advise me if you would like to see these resumes today.
Rgds, Karen.
x54667
| A&A to be placed |
I was wondering if the Bammel lease to AEP contains any operating parameters to protect the integrity of the facility.
The question arises from the fact that Bammel had about 24 BCF of remaining capacity when Enron turned the facility over to AEP.
We believe their plan is to max inject in June which would reduce the remaining capacity to around 12 BCF.
It could become a challenge to keep injections under the remaining 12 BCF level during the reaming 4-5 months of the injection cycle.
Enron always operated the facility with the understanding that a Gas In Place volume greater than 117.5 BCF could create a high enough pressure to jeopardize the safety of the wellhead casings and some of the abandoned wells.
We would not want the Texas RRC to question the safety of the Bammel facility.
From the other end of the perspective if the Gas In Place is taken below 65 BCF their is a high probability of watering out the outer wells and the facility itself.
| Bammel Lease Question |
Article II of the NONCOMPETITION AGREEMENT entered in connection with the sale of HPL to AEP (which closed as of June 1,2001) provides: "ENA [for 3 months post-close] will not solicit, negotiate or enter into any contract, agreement or arrangement for the purchase of natural gas on the HPL Pipeline from any Person which is a supplier or producer of natural gas connected to the HPL Facilities; provided, however, nothing herein shall be construed or interpreted as prohibiting ENA from entering into any such contract, agreement or arrangement which is less than one month in duration and involves or is related to an Enron Online transaction."
This is not the most clearly drafted provision as it was the subject of much negotiation....and was significantly narrowed from the original scope proposed by AEP.
Thus, please consult with me prior to entering into any solicitation, agreement or arrangement which might arguably be covered by our limited covenant not to compete on the supply side for 3 months.
There are many aspects of the post-close transition which will require cooperation between Enron and AEP/HPL and thus, it behoves us to carefully weigh the risks and rewards of "stepping too close to or over the line".
Further,although a technical reading of the non-competition agreement only applies to ENA, no ENA UPSTREAM deals which would violate this covenant if there were to be done as ENA should be done without clearance from Brian Redmond and me.
Please communicate this restriction to those who report to you and have need to be aware of this limited restriction.
Sincerely
| ATTORNEY/CLIENT COMMUNICATION//////CONFIDENTIAL and Privileged |
Due to the sale of HPL we will be modifying the General Terms and Conditions ("GTC") governing all North American physical natural gas transactions on EnronOnline, on Nov 5th.
This will require all Counterparties' not having a Master Agreement governing Physicals to accept the revised GTC in order to continue transacting in these Physicals.
In order to ensure minimal disruption to trading we are taking the following steps.
There will be a pop-up announcement to this effect on EnronOnline on Monday Oct 29th There will be a ticker with the same information all week , next week on EnronOnline.
The modified version of the GTC will be available on EnronOnline all week, next week for any customers wishing to have their legal departments review it before they accept it.
The EnronOnline marketing group will be contacting customers who had previously accepted the GTC to make sure they are comfortable with the changes.
If you need more information or have any questions please call me at X 31787 Savita
| ENRONONLINE- GAS PHYSICAL GTC CHANGE |
= = = = = = = = = = = = = = = = = = IntercontinentalExchange = = = = = = = = = =20 = = = = = = = = = Firm Physical Natural Gas Price Bulletin = = = = = = = = = =20 = = = = = = = = = For Natural Gas Delivered on Saturday, October 27, 200= 1 thru Monday, October 29, 2001 = = = = = = = = = = = = = = = = = =20 = = = = = = = = = = = = = = = = = = (Trade Date of Friday, October 26, 200= 1) = = = = = = = = = = = = = = = = = = = = = = = = = = = =20 Click here to access index history .
= = = = = = = =20 = = = = = = = = = = = = = = = = = = * volume represents sell-side only * = = = = = = = = = = = = = = = = = = = = = = = = = = = = =20 Region Hub=09High=09Low=09Wtd Avg Index=09Change ($)=09Vol (mmBtu)=09Hu= b Name=09 LOUISIANA =09=09=09=09=09=09=09 ANR SE=09 $3.0700=09 $2.9800=09 $3.0139=09- = .1067=09 667,500=09American Natural Resources Pipeline Co. - SE = Transmission Pool=09 Columbia Onshore=09 $3.0900=09 $3.0050=09 $3= .0530=09- .0677=09 438,300=09Columbia Gulf Transmission Co. - On= shore Pool =09 Henry Hub=09 $3.1100=09 $3.0000=09 $3.0478= =09- .0936=09 4,043,400=09Henry Hub tailgate - Louisiana =09 NGPL LA=09 $3.0400=09 $2.9400=09 $2.9948=09-= .1135=09 716,100=09Natural Gas Pipeline Co. of America, Louisia= na Pool =09 Tenn 500L=09 $3.1750=09 $3.0150=09 $3.0430= =09- .1074=09 636,900=09Tennessee Gas Pipeline Co.-Zone L, 500 L= eg Pool =09 Tenn 800L=09 $3.0450=09 $2.9800=09 $3.0225= =09- .1136=09 302,100=09Tennessee Gas Pipeline Co.-Zone L, 800 L= eg Pool =09 TETCO ELA=09 $3.0850=09 $3.0100=09 $3.0494= =09- .1185=09 710,100=09Texas Eastern - East LA =09 TETCO WLA=09 $3.0600=09 $2.9900=09 $3.0244= =09- .1228=09 106,500=09Texas Eastern - West LA =09 Transco 65=09 $3.1250=09 $3.0600=09 $3.0950= =09- .0917=09 286,800=09Transco - Station 65 =09 Trunkline ELA=09 $3.0500=09 $2.9800=09 $3.01= 24=09- .1426=09 193,500=09Trunkline Gas Company - East Louisiana= Pool =09 TxGas SL=09 $3.0400=09 $3.0100=09 $3.0272=09= - .0804=09 340,200=09Texas Gas Transmission Corp.-Zone SL FT Poo= l =09 MIDCONTINENT =09=09=09=09=09=09=09 MichCon, citygate=09 $3.2800=09 $3.1500=09 $= 3.2180=09- .1793=09 465,000=09Michigan Consolidated =09 NGPL Midcont=09 $2.9700=09 $2.8400=09 $2.877= 0=09- .1748=09 533,100=09Natural Gas Pipeline Co. of America, Mi= d-Continent Pool =09 NGPL Nicor, citygate=09 $3.2000=09 $3.0900=09 = $3.1331=09- .1582=09 1,325,400=09Natural Gas Pipeline Co. of Ame= rica, Nicor Citygate=09 NGPL NIPSCO, citygate=09 $3.1750=09 $3.1000=09 = $3.1270=09- .2090=09 160,500=09Natural Gas Pipeline Co. of Am= erica, Nipsco Citygate=09 NNG Demarcation=09 $3.0300=09 $2.9400=09 $2.= 9708=09- .2654=09 841,500=09Northern Natural Gas, Demarcation Po= ol =09 NORTHEAST =09=09=09=09=09=09=09 Columbia TCO=09 $3.5150=09 $3.3350=09 $3.401= 5=09- .0745=09 1,374,300=09Columbia Gas Co. - TCO Pool =09 Dominion So.Point=09 $3.4450=09 $3.3800=09 $= 3.4061=09- .0991=09 1,158,000=09Dominion - South Point =09 TETCO M3=09 $3.5000=09 $3.4000=09 $3.4278=09= - .2013=09 578,700=09Texas Eastern - M3 Zone =09 Transco Z-6 (NY)=09 $3.6700=09 $3.5000=09 $3= .5662=09+ .0203=09 797,700=09Transcontinental Gas Pipe Line Corp= .
- Zone 6 (NY)=09 WEST =09=09=09=09=09=09=09 El Paso non-Bondad=09 $2.6400=09 $2.4200=09 = $2.5350=09- .3942=09 669,000=09El Paso - San Juan Basin, Blanco = Pool=09 Huntingdon/Sumas=09 $2.6600=09 $2.5500=09 $2= .6000=09- .3133=09 417,600=09Westcoast Energy & Northwest Pipeli= ne Corp.=09 Opal=09 $2.5400=09 $2.3900=09 $2.4346=09- = .4758=09 210,000=09Opal=09 PG?Citygate=09 $2.8200=09 $2.6600=09 $2.7522= =09- .4946=09 351,000=09PG?- Citygate =09 SoCal Border=09 $2.8900=09 $2.7650=09 $2.830= 6=09- .2531=09 188,400=09Southern California Border Points (Ehre= nberg,Topock,Needles)=09 WEST TEXAS =09=09=09=09=09=09=09 El Paso - Keystone=09 $2.8500=09 $2.6700=09 = $2.7158=09- .2735=09 882,900=09El Paso - Keystone Pool=09 Waha=09 $2.8900=09 $2.7550=09 $2.8024=09- = .2190=09 477,600=09Waha Hub - West Texas =09 = = = = = = = = = = = = = = = = = = Includes all firm physical fixed price t= rades done from 7 AM to 11:30 AM Central Prevailing Time on the trade date = specified for natural gas delivered on the specified date(s).
= = = = = = = = = = = = = = = = = =20 = = = = = = = = = IntercontinentalExchange is the world's most liquid = trading platform for over-the-counter energy and metals.
Active markets in= clude North American power and natural gas, global crude and refined oil pr= oducts, and precious metals.
Traded instruments include forwards, swaps, a= nd options.
= = = = = =20 In order to receive the proprietary information contained in this email, yo= u acknowledge and agree that you shall not further disseminate the Intercon= tinentalExchange Market Data contained herein to any person or entity witho= ut the express written consent of IntercontinentalExchange.
Furthermore,= you acknowledge that (1) IntercontinentalExchange has exclusive and valuab= le property rights in this data; (2) IntercontinentalExchange's data is bei= ng made available to you only for your own business or personal activities;= and (3) you cannot communicate the data, in any form, to any other person = or entity without the express written consent of IntercontinentalExchange.
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= = = = = = = = = = = = = = = = =
| Gas Indices |
FYI I'm trying to sell 10,000/d off Blk Marlin into Carbide for Nov & Dec 01.
Jody was a pass on HSC - $0.03 because of other gas he has flowing which he now indicates is showing up at HSC - $0.04 to $0.05.
Nelson hasn't confirmed price to me but the best I've heard from him was a HSC - $0.04 and he wanted to better Spinniker's price.
Our last shot for Nov & Dec is Monday.
After that, we have a shot at gas that comes up Jan 01 at TX City.
Jody still wants to see a delivered price off of MOPS and he seems to be expecting HSC - $0.10 to $0.12 based on gas he's buying at El Paso Blessing.
mk
| Union Carbide - TX City offer |
Attached is a reconciliation of the HPL Inventory and Working Capital Calculation Statements that Enron and AEP have exchanged.
Please review and be prepared to discuss in a meeting today at 4pm in EB3587.
Please let Michael Salinas or Lisa Lunz know if you cannot attend ASAP!
Thanks!
| HPL Inventory and Working Capital Calculation Statement Reconciliatioin |
= = = = = = = = = = = = = = = = = = IntercontinentalExchange = = = = = = = = = =20 = = = = = = = = = Firm Physical Natural Gas Price Bulletin = = = = = = = = = =20 = = = = = = = = = For Natural Gas Delivered on Thursday, October 25, 200= 1 = = = = = = = = = = = = = = = = = =20 = = = = = = = = = = = = = = = = = = (Trade Date of Wednesday, October 24, = 2001) = = = = = = = = = = = = = = = = = = = = = = = = = = = =20 Click here to access index history.
= = = = = = = =20 = = = = = = = = = = = = = = = = = = * volume represents sell-side only * = = = = = = = = = = = = = = = = = = = = = = = = = = = = =20 Region Hub=09High=09Low=09Wtd Avg Index=09Change ($)=09Vol (mmBtu)=09Hu= b Name=09 LOUISIANA =09=09=09=09=09=09=09 ANR SE=09 $2.6700=09 $2.6000=09 $2.6451=09- = .1537=09 206,300=09American Natural Resources Pipeline Co. - SE = Transmission Pool=09 Columbia Onshore=09 $2.7600=09 $2.5700=09 $2= .6712=09- .1221=09 217,800=09Columbia Gulf Transmission Co. - On= shore Pool =09 Henry Hub=09 $2.8000=09 $2.6100=09 $2.6750= =09- .1390=09 1,269,400=09Henry Hub tailgate - Louisiana =09 NGPL LA=09 $2.6600=09 $2.5850=09 $2.6307=09-= .1672=09 220,600=09Natural Gas Pipeline Co. of America, Louisia= na Pool =09 Tenn 500L=09 $2.7000=09 $2.5800=09 $2.6312= =09- .1588=09 208,500=09Tennessee Gas Pipeline Co.-Zone L, 500 L= eg Pool =09 Tenn 800L=09 $2.6450=09 $2.6100=09 $2.6295= =09- .1473=09 181,900=09Tennessee Gas Pipeline Co.-Zone L, 800 L= eg Pool =09 TETCO ELA=09 $2.6800=09 $2.6000=09 $2.6316= =09- .1381=09 209,000=09Texas Eastern - East LA =09 TETCO WLA=09 $2.6550=09 $2.6200=09 $2.6380= =09- .1427=09 25,000=09Texas Eastern - West LA =09 Transco 65=09 $2.8000=09 $2.6700=09 $2.7126= =09- .1492=09 146,200=09Transco - Station 65 =09 Trunkline ELA=09 $2.7800=09 $2.6200=09 $2.66= 90=09- .1415=09 61,500=09Trunkline Gas Company - East Louisiana= Pool =09 TxGas SL=09 $2.7800=09 $2.6400=09 $2.6932=09= - .1285=09 78,500=09Texas Gas Transmission Corp.-Zone SL FT Poo= l =09 MIDCONTINENT =09=09=09=09=09=09=09 MichCon, citygate=09 $2.9400=09 $2.7700=09 $= 2.8513=09- .1218=09 77,100=09Michigan Consolidated =09 NGPL Midcont=09 $2.6350=09 $2.5600=09 $2.606= 2=09- .1218=09 168,200=09Natural Gas Pipeline Co. of America, Mi= d-Continent Pool =09 NGPL Nicor, citygate=09 $2.8750=09 $2.6800=09 = $2.7800=09- .1206=09 562,200=09Natural Gas Pipeline Co. of Ame= rica, Nicor Citygate=09 NGPL NIPSCO, citygate=09 $2.8100=09 $2.7300=09 = $2.7520=09- .1649=09 22,000=09Natural Gas Pipeline Co. of Am= erica, Nipsco Citygate=09 NNG Demarcation=09 $2.7850=09 $2.7000=09 $2.= 7465=09- .1283=09 274,500=09Northern Natural Gas, Demarcation Po= ol =09 NORTHEAST =09=09=09=09=09=09=09 Columbia TCO=09 $2.9300=09 $2.8000=09 $2.848= 8=09- .1014=09 921,000=09Columbia Gas Co. - TCO Pool =09 Dominion So.Point=09 $2.9250=09 $2.8300=09 $= 2.8973=09- .0778=09 165,000=09Dominion - South Point =09 TETCO M3=09 $3.2000=09 $2.8600=09 $2.9158=09= - .1570=09 198,400=09Texas Eastern - M3 Zone =09 Transco Z-6 (NY)=09 $3.3000=09 $2.8600=09 $2= .9308=09- .1375=09 160,100=09Transcontinental Gas Pipe Line Corp= .
- Zone 6 (NY)=09 WEST =09=09=09=09=09=09=09 El Paso non-Bondad=09 $2.5300=09 $2.4700=09 = $2.4991=09- .1872=09 162,000=09El Paso - San Juan Basin, Blanco = Pool=09 Huntingdon/Sumas=09 $2.5700=09 $2.5300=09 $2= .5522=09- .2205=09 133,000=09Westcoast Energy & Northwest Pipeli= ne Corp.=09 Opal=09 $2.4600=09 $2.3300=09 $2.3872=09- = .1974=09 115,000=09Opal=09 PG?Citygate=09 $2.8800=09 $2.7000=09 $2.8207= =09- .1706=09 227,000=09PG?- Citygate =09 SoCal Border=09 $2.7100=09 $2.6600=09 $2.693= 5=09- .1979=09 156,000=09Southern California Border Points (Ehre= nberg,Topock,Needles)=09 WEST TEXAS =09=09=09=09=09=09=09 El Paso - Keystone=09 $2.5500=09 $2.5200=09 = $2.5326=09- .1986=09 192,000=09El Paso - Keystone Pool=09 Waha=09 $2.6000=09 $2.5600=09 $2.5787=09- = .1791=09 133,600=09Waha Hub - West Texas =09 = = = = = = = = = = = = = = = = = = Includes all firm physical fixed price t= rades done from 7 AM to 11:30 AM Central Prevailing Time on the trade date = specified for natural gas delivered on the specified date(s).
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| Gas Indices |
Attached is a draft of the "Final Working Capital Calculation Statement" that would be attached to the letter that Anne is drafting that needs to be sent to AEP before Friday.
These agree to the amounts that we previously sent to AEP in a letter earlier this month except for a slight adjustment to the Centanna Ad Valorem Tax Expense number as I received an updated number from the Tax Department this week.
I have also told Jim Dedicker at AEP that I will forward him a copy of the bill from Jefferson County once we receive it.
Also keep in mind that this working capital calculation statement does not include the working gas adjustments for Bammel and Centanna which were already sent in a "Final Working Gas Calculation Statement" on 10/15.
Please review and verify these numbers and let me know if you think anything needs to changed, added, or omitted ASAP!
Thanks
| Final Working Capital Schedule |
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