postbot/aeslc_kw huggingface dataset:
Subject: Some Background on California Gas Price Spikes--The Other Side of  the Story


Last week, I distributed a presentation that the Brattle Group gave before  the California Inquisition (i.e., legislative gas oversight committee looking  into the gas price spikes at the Cal border).
The Brattle Group is a consulting firm that Edison has long used to beat up  on SoCalGas (recall that Edison used to be a big gas customer when it owned  power plants).
Edison "arranged" for the Brattle Group to be the star  witness at the Cal Leg gas hearing.
Their job was to set up El Paso and  Dynegy for the hit at hearings that took place the following day.
Their  message was simple (and simplistic):  El Paso and Dynegy have market power.
They have used the market power to drive up basis and thus the price of gas  at the border (to "obscene" levels).
That, in turn, has driven up electricity prices.
Ken Lay is giving a gas talk tomorrow, and Rob Bradley asked that I provide  the alternative view to the Edison/Brattle rant, in the event that he gets  any questions on the topic.
It's attached.
Apologies, it's quick and dirty,  but it provides the basics.
Obviously no need for us to defend El Paso or Dynegy, but might be useful to  offer a more rationale explanation than the one that the California  Legislature is peddling.
Finally, we were also fingered somewhat as culprits at the hearing (the  California PUC FERC lawyer claimed that ENA and TW colluded to drive up basis  when ENA controlled a portion of  the capacity), but the overriding goal of  the hearing was to go after EP and Dynegy.
Best,
Subject: Demand Buy Down Proposals for Hertzberg


Greetings:  On the call between Ken Lay and Bob Hertzberg, Hertzberb asked us to resend  any thoughts (and any more detail) we have on demand buy-downs.
I've  combined our on-line auction proposal with the "federal" solution recently  worked up for the Cheney meetings (I tailored it for California  consumption).
Hertzberg wanted it today in advance of meetings that he's having in  Washington next week.
Scott Governor will deliver this to Hertzberg's office  today.
Sorry for quick turn around, but if folks have comments, could you  send them to me pronto so that Scott can deliver to Hertzberg's office before  COB?
Thanks very much.
Best,
Subject: Meetings w/Consumer Groups


Greetings:  Steve Kean and I met today with Jack Stewart, Pres.
of the California  Manufacturer's and Technology Ass.
and Alan Zaremberg, CEO of the California  Chamber of Commerce.
Jack Stewart was happy to hear about our efforts and is generally  supportive--particularly regarding direct access--but wants more information
Subject: LA Times Called


Nancy Rivera-Brooks of the LA Times just called.
Said she'd heard that Ken  Lay and Governor are in frequent talks discussing the possibility of Enron  buying Edison's transmission system.
I told her that Enron is not in the  market for transmission systems.
Next thing you know, we'll want to buy the  nukes.
Best,
Subject: Rate Agreement between DWR and the PUC Regarding Creditworthiness


FYI:  Just got off the phone with Michael Hoffman, who's one of two key  outside financial advisors to Davis on the electricity crisis.
The  administration is trying to get a legally binding agreement between the PUC  and DWR to ensure that the PUC doesn't muck around with the money (via  utility rates) DWR requires to be creditworthy.
They were shooting for this  Friday to have a draft of the document read for folks to review, but it now  looks like it won't get resolved until (at the earliest) next week----seems
Subject: GA Value


Greetings.
Let me know when you would like to discuss the "value" that GA  brought to our pipeline group.
(We discussed it when I was in Houston week  before last.)
Best,
Subject: Strategy


Well, wouldn't you know it.
I couldn't find the most recent version in my  email.
But here's the 10.03 version with a few edits.
Couple of other  points:  I still very much like the idea of taking the table out and includling as an  attachment.
I still think that the table doesn't explicitly address an option Rick may be  thinking about "Maintain presence with fewer resources."
Think it's  something we need to focus on.
Have a great weekend.
Spreadsheet to follow.
Subject: Good News--Twice!


Bowen called, and unless he has to schedule a call with a judge from Texas at  the same time, we're on for 9:30 AM.
He'll call back if there's a problem.
Also, he confirmed my recollection on the dedicated transport v. AFTS and  also confirmed that we can change any names we want and that this is the best  time to make sure what we file in good ol' CA is consistent with our other  filings.
Best,
Subject: Lunch


Hi:  I was surprised to see you at the I-House last nite.
Haven't seen you  for a while.
Was going to drop by and say hi and catch up but your table was  extremely popular and I didn't want to intrude.
This is the first  travel-free week I've had in a long time.
You want to try to have lunch?
Or  we could meet at a non-I-House place during the break and catch up if you  like.
Dying to hear about Montana and your possible new life as a day  student.
Did you manage to get away last Thursday?
Best,
Subject: Bit of Background on Global Photon Opportunity


Greetings:  Due to scheduling conflicts and in the attempt not to waste anyone's time,  we'll try to conduct some preliminary due diligence via email, voicemail,  etc.
I've asked GP to get us their audited financial statements for purposes  of credit check.
Here is some additional information about the project.
If  any questions come to mind based on this info, please let me know and we can  forward along to GP for answers.
At this point we have tentatively scheduled  a meeting with GP's CEO in the S.F.
office for Tuesday, June 27th at 10 AM  (PDT).
A Little Background: Plan to construct an undersea fiber optic (24 fiber) cable linking several of  California's major coastal cities (San Diego, L.A., Santa Barbara, San Luis  Obispo, Monterey, S.F.).
Will use a "festooned" arrangement (i.e., exit sea  at each city point).
Total undersea length is ~900 km.
At each coastal city, they'll have a POP to connect to PSTN.
At San Luis Obispo, Santa Barbara and Manhattan Beach, they will deploy two,  separate diverse cable routes from sea to POP.
Will deploy DWDM.
Plan includes eventual connections to existing and planned trans-Pacific  systems.
In addition to "loops" created in SLO, SB and Manhattan Beach, plan includes  a terrestial leg from S.F.
to Monterey to create a land/sea loop between SF  and Monterey.
Total terrestial piece is ~400 km (which includes S.F.
to Monterey terrestial  leg).
Eventually, they'd like to secure terrestial leg from Monterey to San Diego  to create a complete loop.
Has received environmental permit from State Lands Commission; CLEC  certification from California PUC; and is awaiting environmental permit from  Coastal Commission.
Expect to have southern portion of system (San Diego to San Luis Obispo)  built and lit by end of Q1 2001.
Northern piece likely to take longer due to complications associated with  federal wildlife preserve off of Monterey.
May end up bypassing Monterey  altogether.
The people behind the build are techno-philes; they admit to being "clueless"  when it comes to marketing the capacity.
Due to Tyco's perceived lack of performance, Tyco is out and Alcatel is in  (per Ethan's emails).
They are distressed.
Deutschbank has $8MM in the deal and is pushing on them.
Willing to part with dark fiber for a deep discount.
Best,
Subject: MPAR Roomates


Hi Meg: My understanding is that Peter de Vroede has signed me up with him to room at  the offsite.
Your records indicate the same?
Thanks.
Best,
Subject: DRAFT Talking Points for California Energy Markets Conference on  11.02.00


Attached is a rough draft of my talking points for a panel I'll be on at a  CEM conference in SF on Thursday afternoon.
Have distributed to Western GA  team (plus Steffes) for comment and thought you may have some, too.
Topic for panel, "PUC Priorities."
Goal is to (politely?)
refute Loretta  Lynch's and Carl Woods' continued assertions that 1) California's move to  deregulate was based solely on ideology with no basis in fact and 2) the  solution is to turn back the clock to command-and-control regulation.
The FERC order tomorrow is likely to alter the points somewhat.
Comments are much appreciated.
Best,
Subject: Wright follow-up


I've tried to capture in the document Dave sent around on Friday, the  preliminary conclusions/directions we came up with in today's meeting.
If  I've mangled or missed anything, please chime in.
If folks have information  (i.e., bullet points) to discuss at Wednesday's meeting regarding the various  issue areas they're thinking about, please foward along to me by COB tomorrow  and I'll compile for distribution first thing Wednesday morning.
Best,
Subject: OPUS


OK, the tours are booked (it ain't much anyway).
But you're on the guest  list for a complimentary OPUS tasting (see previous note).
OPUS is across  the street from and just south of the main Mondavi winery.
When you get  there, check in with the concierge, who will have your name and will set up  with the complimentary tasting.
It gets real crowded sometimes, which causes  them to close the gates.
If that occurs, you simply need to buzz the  intercom and give them your name and they'll let you in and set you up.
You  should really do the tasting----the wine is simply awe-inspiring and it's a
Subject: SAP Systems Outage Notification


System Outage Notification     Outage Description:  All SAP systems (including Prod Interface, all EBP systems, IPayIt and FTP servers) will be shutdown in order to upgrade our storage hardware.
This maintenance is required to ensure that sufficient storage is available for the SAP Production systems.
Date & Time of Outage:   Outage Commences: November 9, 2001 @ 8:00pm CST  Outage Ends: November 12, 2001 @ 2:00am CST     Contacts:  Contact:  Contact Information:
Subject: GMAT Review available at Enron


GMAT REVIEW AT ENRON  The next GMAT review course at Enron will begin Monday, November 26th: The schedule is:      Course # 7019-00:  Monday nights, Nov 26 - Jan 28 (no class Dec 24 or Dec 31)  This course is identical to the courses that started in October.
It is being offered now for the benefit of employees who would like to take the GMAT before January 31 for the purposes of applying to business school.
Course details:      - Class is held at Enron in room ECN560 and is restricted to Enron 		employees      - Each course is limited to eight students      - Meets once a week for eight weeks      - Hours are 6:00-9:00 PM (first session will run til 10:00 pm to           include initial exam)      - Expect 4-5 hours of homework per week      - Course includes a total of four practice GMAT exams      - Ends the second week of December, allowing employees to take the           GMAT in December and meet a January application deadline.
- Special discount of $200 off the regular Princeton Review tuition  Enron has allowed this program to be hosted in the Enron Building for convenience of its employees.
Individuals are responsible for paying their own fees.
Financial support from Enron is at manager's discretion and is subject to the usual tuition reimbursement constraints around budget and relevance to organizational performance.
HOW TO ENROLL:      1.
Print out the attached registration form.
2.
Complete the form, but please note the following           SPECIFIC INSTRUCTIONS:           A.
Fill out the student information completely, including                your email address.
B.
In the Enrollment section, where it says "Please enroll                me in GMAT Class Size-8 Course # _________",
Subject: FYI


Good Morning-  I've had to take defensive driving for a ticket that I got.
I have a court  date scheduled for Friday morning  Sept. 29th at 8:00 am to submitt  the  defensive driving certificate.
I will be arriving late that morning and I  wanted to let you know 1st.
Subject: E-Schedules


Who has the E-schedules for co. 1n2 and 272?
Marnie is looking for them and  the aren't in the file cabinet.
Call me and I'll take them to her.
Thanks.
Subject: EPE Cuts - 10/12


Did anyone take care of Powerex cuts on Friday?
I've entered a sale to Powerex to bookout for two hours in which they cut a preschedule (deal 795777/tag 16EV) and were unable to resupply the entire 25 mw.
Sale is for HE 13 - 13 mw @ $46, and HE 21 - 6 mw @ $31.
Prices are EPE's incremental costs for those hours, used per Steve at El Paso.
If any of you have more information about these cuts and how they should have been handled, please let me know.
FYI - Cuts were not handled correctly if Real Time Position Manager is not flat when you leave.
Subject: FERC's RTO Week


FERC is holding a week-long conference on Regional Transmission Organizations in Washington  DC.
The conferences will generally be broadcast from 7 a.m. to 2 p.m. PDT.
A copy of the conference agenda and broadcast sound to the conference will be near my desk (behind Tim Belden).
The picture will be on the far-right big screen.
Thanks to Dave Steiner for setting this up.
Alan Comnes
Subject: UBS HR Meeting - REQUIRED


Please plan to attend the local UBS HR Presentation given by Gabrielle Hagele and Chris Lue tomorrow, Thursday, 1/24/02 at 9:00 AM in the Mt.
Hood Conference Room.
The presentation will detail UBS Benefits and UBS HR Policies.
Time is also set aside for Question and Answers.
Several UBS HR required forms will be distributed during this meeting.
These forms are required to process payroll and enroll in the benefit plans.
If you are unable to attend this meeting, please contact me or one of the UBS HR personnel.
See you then!
Subject: New Stock Symbol


Enron announced today that its common stock will now be traded as an Over-the-Counter (OTC) equity security under the symbol "ENRNQ."
This follows a decision by the New York Stock Exchange (NYSE) to file an application to delist Enron's common stock, which means that Enron's common stock and related securities are suspended from trading on the NYSE.
Enron is considering whether to appeal the NYSE's decision.
The NYSE has standard criteria for listing stocks, which can be found on their website at www.nyse.com.
Enron recently fell below the following listing criteria: average closing price of a security less than $1.00 over a consecutive 30 trading-day period.
Quotation service for Enron's stock will now be provided by the National Quotation Bureau, LLC "Pink Sheets."
Subject: Changes to Savings Plan (401k)


As you know, announcements about the change to our Savings Plan Administrator (401k) have been populating your in-box.
Here's another one!
If you would like to make changes to your allocations or move funds within the Plan, you will need to make these changes TODAY before 1:00 PM (Pacific), 3:00 PM (Central).
If you have any questions, you may contact Karla Dobbs, at 713) 345-7880, our contact for the savings plan.
Let me us if you have any other questions.
Thanks!
Subject: Enron Update


Following our announcement of an additional of $1 billion credit line, Standard & Poor's (S&P) today downgraded Enron's long-term credit rating one notch from BBB+ to BBB and short-term rating from A2 to A3.
We expected this, because it is not unusual to be downgraded after using assets to secure credit.
This is still above investment grade.
The ratings of our pipelines Northern Natural Gas and Transwestern have also been lowered from A- to BBB.
In S&P's words, "Their ratings [are now] in line with those of the parent company to reflect S&P's view that Enron's pipeline assets have become more strategic to the company."
S&P also said, "[We continue] to believe that Enron's liquidity position is adequate to see the company through the current period of uncertainty, and that the company is working to provide itself with an even greater liquidity cushion through additional bank lines and pending asset sales."
As I've said before, building on our liquidity position through additional credit lines maintains our counterparties' confidence and strengthens our core businesses.
It's important for you to know that our gas and power numbers - which account for more than 95 percent of our trading activity - indicate that our customer base is not withdrawing, closing out positions, or reducing transaction levels as a result of credit concerns.
In fact, EnronOnline trading volumes are currently experiencing above-normal activity.
We will continue to update you as new developments arise.
Thank you.
Subject: Update to Virus Scanning Software


Everyone,   You probably have already heard on the news that there is a new Computer Virus out on the internet that is causing Corporations to experience numerous problems.
We have an automated process to update our workstations with the latest virus protection updates.
However, there may be some machines that didn't get the update.
In order to prevent this virus from infecting your machine, please assist by doing one of the following tasks.
1.
Logout of the network and log back in or 2.
Click on START>PROGRAMS>ACCESSORIES>Norton AntiVirus Corporate Edition and then click the Live Update button.
This will pop up a screen where you will have to click the "Next" button and then a "Finish" button.
The proper version of the update pattern you need is:   (9/18/2001, version 30918v)  If you have questions or concerns, please direct them to your Resolution Center.
Enron Global Technology
Subject: Short at PGE system for Thurs and Fri, 09/27-28


We are short at PGE system for Thursday and Friday, 9/27-28/01.
HE15-20pdt, we are 25mw short (total of 150mw short each day).
This is due to a lending deal done by the NW Cash desk.
Please supply Portland at their system in the most cost effective manner possible.
Deal #791433.1 for both days.
Thanks,
Subject: BIKE COMMUTE CHALLENGE


CONGRATULATIONS ALL WHO PARTICIPATED IN THE SEPTEMBER BIKE COMMUTE CHALLENGE!!!
We had a very successful month - Thanks to all who participated!
TEAMS 1-6 please join us for lunch in MT HOOD 11:30 -12:30 Wednesday October 3rd for our Awards Ceremony.
Subject: WARNING:  Your mailbox is approaching the size limit


This warning is sent automatically to inform you that your mailbox is approaching the maximum size limit.
Your mailbox size is currently 75421 KB.
Mailbox size limits:  	When your mailbox reaches 75000 KB you will receive this message.To check the size of your mailbox:     Right-click the mailbox (Outlook Today),    Select Properties and click the Folder Size button.
This method can be used on individual folders as well.
To make more space available, delete any items that are no longer needed such as Sent Items and Journal entries.
You must empty the Deleted Items folder after deleting items or the space will not be freed.
To turn Journaling off,   click Tools | Options | Journaling Options and de-select all items.
See client Help for more information.
Subject: Out of the Office


To all whom it may concern -  I will be out of the office Thursday, Oct. 4, through Monday, Oct. 8.
If you have anything you need addressed prior to Tuesday morning, please reach me on my cell phone.
I apologize for any inconvenience this may cause.
Subject: Bike Commute Challenge


In case you are interested, the results of the Bike Commute Challenge were given last night at the Bike Commute Hubbub.
Enron placed Second behind REI of Jantzen Beach.
The stats were not given, but when Heather gets back, I am sure that she can get this information and pass it on.
Thanks for everyone's participation!
Lets take first NEXT YEAR!
Michael S. Tully Trade Floor Support, Portland (503)464-7790 Desk (503)807-7862 Cell michael.tully@enron.com  He who runs behind car, often get exhausted.
Subject: LCRA modification


Clint and I revised all of the LCRA capacity pymts this afternoon, which affected the following deals:  275298	Jan-00			modified option premium 288187		Feb-00			modified option premium 300368	Mar-00			modified option premium 316345		Apr-00			modified option premium 331019		May-00			modified option premium 347153		Jun-00			modified option premium 425790	Dec-00 through Feb-01 modified annuity strips 397802	Mar-01 through Dec-02 modified annuity strips  What steps need to be taken now to make sure these changes get pushed through to your systems?
Does everything prior to the current month need to be auto-scheduled or is it only annuities (not option premiums)?
Thanks!
Subject: Employee reinstatement


We have offered re-employment to Dierdre McCaffrey and she has accepted effective today.
We need to reinstate her back to December 5, 2001.
Robert Jones is handling all needed paperwork,etc.
Dierdre was in EGM-Freights Markets prior to being terminated on 12/03/01.
Prior to EGM, she spent numerous years in various positions in wholesale gas structuring, trading, and origination.
She was instrumental in identifying, evaluating, and negotiating most of our gas asset management transactions.
She worked with Laura Luce and team on the Peoples' Gas transactions, and she will be critical in ensuring we maintain and optimize these contracts and positions going forward.
She will be working with Laura Luce in the Enron Estate.
Thank you.
Subject: Commodity / Embedded Finance Deals


Tim, I would argue that we should pursue this business as long as a) we are  being adequately compensated for the financing and underlying commodity risk;  b) we have very good paper; c) we are dealing with solid credits and are  charging an appropriate risk adjusted cost of capital for the underlying  financing; d) we have the ability to syndicate the capital or funds flow  position if needed to manage cash issues and e) that RAC is comfortable that  we are reaching these goals.
Any imbedded financing or $5M or more should be DASHED.
David, Joe and Mark  should be your key contacts to ensure we are adequately managing these issues  but I do not see any fatal flaw in the strategy if priced/managed well and we  watch the funds flow issues.
Regards
Subject: 20/20


Guys, can you help Phillip out with this, I assume this has something to do  with the 20/20 deal.
I believe a reserve should have been set up for this  payment which was only designed to ensure that the transaction was accretive  to NBPL.
Regards
Subject: ENA Management Committee


Please be sure your are in attendance or let me know if you can't attend so  that I can make Dave aware.
This is a reminder !!!!!
There will be a Friday Meeting October 13, 2000.
Subject: Various


Jeff, I think we should take a quick review of the existing PI portfolio to  see where we are and where we want to go - we have with the completion of  FCEL made a tremedous amount of investment in a very short period of time  >$60 to $80M.
I would like to  hear how we are moving to monetize more  mature investments and influence/generate value from the earlier stage  investments.
I don't want to approve any further investments until we have  had such a discussion.
Regards
Subject: AIG Fund


Guys, I would like to add the following commentary to the DASH which will  better reflect my thinking around this investment.
The current text suggests  that there is significant strategic advantage for ENA to be a participant in  the fund.
I do not think that is the case; however, I do see some merits in  the investment based on the needs of Enron's Global Finance group.
I would  suggest toning down the strategic advantages and add the following:   It is unlikely that given the funds target returns that the it will be an  effective permanent monetization vehicle for ENA's strategic and merchant    investments; however, Enron Global Finance believes that the investment is  important for the following reasons:   a) provides an additional "Friend of Enron" to facilitate short to medium  term balance sheet and regulatory solution to highly structured    commodity  and capital transactions in the wholesale group;   b) provides alternative sources of short term capital liquidity and   c) by further developing the relationship with AIG provides collateral  benefits for Enron's overall Global Finance capability and business.
ENA would have a requirement that this investments be hedged through Raptor  and be managed by the Enron Global Finance Group.
Regards