postbot/aeslc_kw huggingface dataset:
Subject: More Info: PG&E to Announce Open Season on Redwood and Baja Early  Next Week

PG&E will announce via press release very early next week an open season on  Redwood, Baja and Silverado.
It comes in direct response to recent announcements of expansions into  California by pipelines.
The bid protocols will be structured similar to original open season from the  original Gas Accord.
The open season will start on June 1 and end on July 31.
Capacity will be available starting 1.1.03.
Bidders will be able to bid up to 30 years (PG&E states that that's what  generators want).
Accompanying the announcement will be another announcement that PG&E will  expand Redwood by 200mmcf/day, which they hope to have available by 1.1.03,  or some time during Q103.
About 2-4 weeks after the open season begins, PG&E will file its proposed  "Gas Accord II,"  (the first one expires end of 02).
As part of that filing, PG&E will offer its proposed ratemaking treatment for  the next five years (beginning 1.1.03).
PG&E will not include in the open season 1) core capacity and 2) certain EAD  contracts that extend beyond the Gas Accord 1 end date.
In addition, PG&E will hold back an additional 20% (after excluding core and  EAD), to be "open-seasoned" at some "future" date.
The capacity to be auctioned is: 1) 900 mmcf/day on Redwood, 2) 245 (annual)  on Baja, plus an additional 200/day in summer on Baja, 3) 155 on Silverado.
How PG&E will market the 20% they intend to hold back, and when they might  auction it off in the future will be discussed in PG&E's Gas Accord II filing.
No single company will be awarded more than 30% of the capacity on any  specific path in the primary open season (though firms can bid whatever level  of capacity they choose).
Please forwad along to anyone else who might be interested.
If you have any  questions, just holler.
Best,
Subject: Follow-up with Hertzberg on Core/Noncore

Hertzberg called.
We very briefly discussed the scenarios that he asked us  to build for him.
I've attached the file.
the supporting spreadsheets are  not included.
If folks would like them, let me know.
Please keep the file  confidential.
Hertzberg wanted to see what happened to rates for large (noncore) customers  if the small (core) customers' share of past utility debt is shifted to  noncore customers.
Our analsis shows that noncore rates approach Loretta's recent rate increases  when approximately 50% of core's share of utility past debt is shifted to  businesess (i.e., to noncore).
(In fact, Edison's rate in this scenario is  below the Lynch rate, while PG&E's is modestly above.)
Increasing the cost shift above the 50% level would start to push rates  significantly above the Lynch rates.
Note, however, that in its recent submission to the PUC, DWR's asserts that  it's revenue requirement is substantially higher than the revenues support by  the Lynch rate increase, suggesting that Lynch will have to increase rates  again soon.
In addition, Loretta's rates also do not reflect past utility costs, which  will require yet additional increases.
I expect to have another conversation with the Speaker later this evening or  tomorrow to discuss the scenarios in more detail  (he would still like to put  100% of the IOUs past debts on noncore in exchange for getting a competitive  market and out from under Loretta).
I will report back after we've spoken.
All ideas, suggestions, etc.
regarding the attached spreadsheet are welcome  and appreciated.
Best,
Subject: Democratic National Congressional Election Committe Starts Adds in  California

The advocacy ad blitz has started.
I don't know if I have the title correct,  but the D.C. based arm of the Democratic National Committee has started an ad  campaign against Republicans (in San Diego I believe).
The head of the  committee was quoted this morning as saying something to the effect of, "the  Republicans in Washington aren't doing anything to solve the problem and "we"  want to make sure that they're held accountable."
Best,
Subject: More Follow-up with Hertzberg et. al.

I spoke again briefly with Hertzberg last night and had a lengthy discussion  late last night with the guy from CSFB who's been providing Hertzberg with  pro bono financial advice on the crisis.
Hertzberg is still hot on putting  all of the utility past due on the noncore, though his consultant and I  agreed that, politically, the number is more likely to end up somewhere south  of 100% (if this thing gets legs).
Hertzberg asked for, and we provided  today, a "fifth scenario," which shows how the numbers work out if 100% of  core's share of utility past due is shifted to noncore.
It's attached.
Will  report back with any further developments.
Note: Please discard the file that I sent you yesterday and replace it with  this one.
That file accidentally had the same cents/kwh, noncore rate for  both Edison and PG&E.
Edison's rate should be 12.98 cents/kwh NOT 12.21  cents/kwh.
It's the line that reads "Total cost to Noncore under CPUC's  Recent Decision."
Best,
Subject: 5th Scenario

Good talking to you last nite.
Here's the summary with the 5th scenario.
The Speaker has it.
Give a call if you have any questions.
Best,
Subject: Summary of Core/Noncore Analysis

Rosalee:  Could you please print out the following two documents for Mr.  Lay?
One is an excel sheet showing the summary of the results of our analyis  of the core/noncore market structure that Mr. Lay has been discussing with  leaders in California.
The other is a word document explaining the summary  tables contents.
If you have any questions, just let me know.
Maureen, can  you print out for Steve, too?
Thanks very much for your help.
Best,
Subject: Economists letter on FERC and California

Greetings: Have you seen this?
Any view on whether there's a group of economists who  think otherwise and might be willing to express their views in a response to  this letter?
P.S.
Talked to Tyson re: trying to get economists back in the middle of this,  but I wasn't altogether successful.
Best,
Subject: Gov's Financial Advisors Run Core/Noncore Numbers and other news  from the day

Status of core/noncore proposal Buzz about the proposal in Sacramento is still significant and growing.
Our name is being tossed about, but in the context (apparently) of "some  parts of Enron's core/noncore proposal."
Hertzberg is slated to meet with his caucus this evening to discuss the plan.
Conversation with Governor's Financial Advisor Talked to Michael Hoffman today (one of Governor's financial advisors) They've run Hertzberg's version of the core/noncore model (i.e., noncore eats  IOU past due) using their MOU numbers.
They said that the model "can work" if noncore can contract for $80/MWH (this  is pretty consistent with our analysis).
Hoffman's guys are doing a final scrub on the numbers and Hoffman will fax me  the results tomorrow AM.
Hertzberg is coming up with "additional" twists, however.
The twists include increasing the bond issuance to ~$20B (to keep core rates  down).
Hoffman and Co. are concerned that the market can't/won't swallow $20B of  additional debt (the MOU would issue about $13B).
In addition, Hertzberg wants to stretch it out for 20 years (the MOU would  issues 15-year paper)----Hoffman and Co. are concerned that the market won't
Subject: Hertzberg's Plan

I've received a copy of the powerpoint presentation Hertzberg made to the his  caucus.
Unfortunately, it's a fax and hardly legible.
I can make out,  however, that it is the core/noncore plan.
I'm attempting to get a better  copy and will distribute as soon as I get my hands on it.
Please keep  confidential that we have a copy.
Thanks.
Best,
Subject: Hertzberg

Folks:  Here is a rewrite of the power point presentation referenced in the previous  note.
Again, please keep confidential and do not distribute.
It's the copy  that Hertzberg used to present to his caucus.Thanks.
Best,
Subject: Phone Calls w/Large Customers re: Core/Noncore Proposal

I've had several phone calls with large customer groups over the past  24-hours, mostly explaining our noncore/core proposal (in contrast to the one  that the Assembly Democrats have launched which would saddle business with  100% of the utilities' past debts).
As folks know, the cost shift provision  of the Dems plans have been erroneously attributed to us in some cases.
The business folks have been very appreciative of the discussions and have  recognized that, generally, our proposal is a fair and reasonable one.
They  are going to try to set up direct negotiations with Hertzberg and have  requested that I be part of those negotiations.
They are not sure that  Hertzberg will go along with the idea, but they're going to try.
They will  get back to me when they find out.
I'll report back soon as I hear  something.
Subject: Team Project #2---Problem #2

I think Dennis, Shawne and I were supposed to work more on #2, but since I  can't recall, I'm sending to all.
First, I apologize.
I tried to work directly with the excellent spreadsheet  Carolyn put together, but I kept fumbling, butchering, etc.
So I canibalized  her great stuff and created a new spreadsheet, attempting to incorporate the  "clarifications" (yeah, right) that Prof McCullough distributed via email,  and the stuff we talked about during break (i.e., timing of cash flows).
The  answers are at the bottom of the work sheet.
And I've also included the  report (though I did not peruse it for errors, relevancy, etc.).
My  biggest concern is question 6.
My answer (despite some outliers) sez  that there ain't no loan in June.
(This may mean my spreadsheet's got a  fatal flaw--significant probability.)
Subject: Rebecca Smith

FYI.
Rebecca got back in touch wanting to talk about the history of dereg in  California.
Been trading messages.
When she gets back to me with what she  wants to discuss, I'll check back in before having the conversation.
Question:  What about giving her a copy of our high tech slides with the  intent of getting her to do a story on it?
She might be a good "carrier."
Thoughts?
One story has already hit the SJ Mercury News.
Best,
Subject: FERC Hearing

Mitch:  Paul Kaufman mentioned that you'd like to see the testimony that Steve Kean  (at a congressional field hearing in San Diego) and I (at a FERC field  hearing in San Diego) gave a few weeks ago.
Steve had prepared remarks.
They are attached.
I did not have prepared remarks, but I've attached my  talking points.
My talking points were not made public, however, so please  keep them private.
Finally, I'm trying to get a transcript of the FERC  hearing.
If you would like a copy, please let me know.
And if there's  anything else that I can do, please don't hestitate to contact me.
Best,
Subject: The ISO's "BEEP" stack

BEEP stack is the supply curve for real-time energy that the ISO develops on  the basis of bids and offers.
The problem is that the plants the ISO  ultimately dispatches from the stack often conflict with the merit order  developed from the bids/offers, and the ISO has never been clear about the  decision metrics it uses to determine ultimate dispatch.
Everyone, including  Belden, thinks it can and ought to be a helluvalot more transparent.
Subject: Potential Hire

Susan Scott is a senior attorney with the pipeline group (TW).
I met her as  part of the California PUC's gas restructuring case.
For some time she's  been inquiring about Government Affairs.
She called me yesterday and  mentioned that she's very  interested in exploring if there are any  opportunities in GA.  From my experience, Susan is highly competent and very  professional and I think TW would say the same.
She likes her work but wants  a new challenge.
I told her I'd inquire about whether someone would be  interested in talking with her.
I think that it would be useful for you to  chat with her.
Thoughts?
Susan would like to keep it confidential at this  point.
Subject: Need to Review California Tariff Pronto

FYI.
Great news.
PUC "fixed" the language glitches in the original decision  granting ETI its certificate and voted it out yesterday.
So we're good to go  on filing our final tariff.
It's attached.
Please take a look and let's  discuss ASAP (Monday?)
so we can get if on file at the CPUC.
Best,
Subject: Coffee w/Rebecca

Rebecca Smith called.
She wants to have coffee on Monday at 10 AM  California.
Topics:  1) How California got here.
2) How California can get  out of it.
Any chance of talking Monday AM prior to 10 AM California time?
I think I've  got the messages pretty well down, but might be useful to touch base.
Let me  know.
Hear's a message I'm practicing:  "Shapiro and Steffes went to FERC on Friday----problem solved."
Subject: Case

Greetings.
I'm going to read the material and the case today.
Should we  compare notes (via email) on questions 3&4 by tomorrow (Sunday) before  lunch?
Let me know.
Best,
Subject: Retreat

Please let me know if you want me to participate in any gas panels.
And my  feelings won't be hurt if you say no.
Worry not.
Just need to know so that  I can prepare some materials.
Best,
Subject: Final report from the Cal PX on the summer prices

Here's one that's "final," not draft, that just came out.
I'm assuming that  this is the one the press is refering to.
Let me know that you think.
Subject: Coffee with Rebecca Smith

Just spent about 90 minutes with Rebecca.
She left with a very good  understanding of our view of the problem and the solutions.
She also spent  time asking me how I thought other players would respond to the IOU request  for a big check to cover the undercollections.
She expects to have a "big picture" story--covering AB 1890s past, present &
Subject: Jeff Skilling talking points (from Dave Parquet)

FYI.
Here's what Dave pulled together on Friday.
I talked to him and told  him I was going to make a single power point out of the info and then run it  by him for review and comment.
Subject: PG&E's Rate Design Update

Ms Bennett: Thanks for the voicemail.
Couldn't locate the files you sent in August  (uemail now deletes automatically, which may be the problem).
Could you  forward a copy to Mr Yang?
Most appreciated.
Best,
Subject: Energy Efficiency, etc. Incentives

Harry:  FYI.
First meeting to discuss how to dole out the $50 MM created by  AB 970 is 10.7.
Someone I've worked with on DG-type deals in the past from  EES is going to attend the meeting (Brian Smith from the Costa Mesa office).
Bob Frank and I had a conference call with him this morning.
URL for the  event is included below.
Best,
Subject: Bills for Gas Restructuring Activities

Mike:  We'd talked about getting together to discuss the bills for the case.
We'd  originally agreed to a flat fee of $13, 500 (if memory serves) with a bonus  for coming in under the cap.
You've sent me bills (as of August 17 according  to my records) for over $25,000.
As you recall, we had a very lengthy  discussion regarding the magnitude of the work associated with the hearings  and associated briefs.
I stressed that $13.5 was what I'd spend and that  we'd have to do the best we could within that constraint, which is why I  pressed for a flat fee arrangement at the outset.
With that in mind, I  believe that it's important to honor the arrangement.
However, in light of  the particular circumstances in this case, I'm willing to exceed the previous  arrangement for a total of $15,000, but can't go above that.
If you'd like  to discuss it further, I'd be happy to talk about it.
Let me know.
Best,
Subject: # for Massey Call

Given that Peace is likely going to try to push legislation to merge the ISO  and PX and other nasty things, likely makes sense to listen in on our message  development, tactics in addressing the LMP problem.
You think there'd be any  problem with that?
If not, could you pass along the call in number?
Thanks,
Subject: Discuss Upcoming Sempra Meeting

Hi.
Please set up a call for 60 minutes for tomorrow, 10.11.00 for 11 AM  CALIFORNIA time and distribute info to the list of folks below.
Thank you  very much.
Subject: That Joyous Time of Year

Well, it's upon us again and that means X-Mas party.
Joseph and I have begun (barely) to plan for this year's festivities.
But  before we get to far along, tried and true democratic (small "d") principles  call for a wee bit of polling.
Because we're already in the middle of October we need your responses  pronto.
If we don't receive your responses by COB Thursday, then democracy's  out the window, and good ol' dictatorship takes over.
Of course, it will be difficult to grant everyone's wishes, but all  suggestions will be given great (and equal) weight.
Here are the questions:  Would you prefer just dinner, or dinner plus an activity?
Joseph and I are leaning toward dinner and an activity, but wanted to hear  from other folks.
If yes, Joseph has come up with a couple of very fun ideas  for an activity but suggestions are greatly encouraged and welcome.
Same  goes for a restaurant (understanding that the choice of activity may  influence where we eat).
Sue has put in her vote for Fleur de Lys.
Should we try to organize the event with the rest of the SF office (i.e., EES  and ENA) or confine it to GA?
Should we expand to include Western GA or keep it to SFGA?
We choose for dates the 7th or 8th or 14th or 15th of December.
What's your  preference.
Is there a day that just won't work?
Joseph, if I've missed anything, please tack on.
Best,
Subject: Siting Slide for Davis/SKILLING

Attached is a "plant siting" slide for the next Skilling/Davis meeting.
I  developed it from background materials that Dave Parquet pulled together.
This version includes Daves' comments.
His comments are in CAPS.
Best,
Subject: Recent Info on QF Pricing-related Issues

As a follow-up to our call.
Here is some additional information regarding QF  pricing issues.
QFs who voluntarily switched to PX pricing have been getting paid full PX  prices (and there seem to be a couple of thousand MWs that have switched.
The concern is that the Commission's ultimate decision on PX-based QF prices  will force the QFs that have switched to "refund" some of the payments  they've received (e.g., under a "PX minus" mechanism).
The majority of QFs  are happy with the judge's proposed decision pending before the PUC (except  those remotely located QFs who will take a big GMM hit).
As we discussed, the Commission strongly rejected Edison's emergency motion  regarding the gas piece of the QF pricing formula.
Recall also that a couple of months ago
Subject: Meeting w/Sempra

FYI.
Recently, Chris Calger has asked me to set up a meeting with Sempra.
ENA's seeking deals with the two big CA gas IOUs (PG&E and SoCalGas) that  would give ENA access to their assets.
In short, ENA wants to offer a  complete outsource deal for the IOUs' core gas load (i.e., rez and small  commercial customers).
ENA would take responsibility for providing service  for delivery at the city gate and in return would manage all of core's assets  (upstream of the city gate).
We're meeting with Sempra's "Chief Regulatory  Office" (Bill Reed) and Sempra's CFO next Thursday to discuss.
Given the fact that Sempra's primarily focused on electricity, the plan is to  lead off the meeting with a couple of electricity solutions as a bridge to  the gas offer.
For electricity, the plan has two pieces:  1) a commodity  offer that beats the 6.5 cent cap (i.e., nothing fancy) and 2) "Deal Bench"  services with the intent of establishing a procurement mechanism for SDG&E  that the California PUC could pre-approve (thereby eliminating some of the  immense regulatory risk SDG&E now faces).
Wanted to run this by folks to gauge reactions.
We'll distribute the slides  we're putting together as soon as they're drafted--hopefully by COB Friday.
Subject: Peace Targetting Market Players

FYI.
Just got a call from Jan Smutney-Jones.
Apparently, word is on the  street that Peace intends to begin targeting Enron as an example of the  "misconduct" that Peace alleges has occured in California's markets.
Smutney  thinks Peace may be keying off the comments of the "unnamed" trader in the  Dow article claiming that Enron's been buying power and holding on to it.
Apparently Peace's other angle is/will be:  "The same people who colluded in  the design of this market are now colluding to profit unfairly from it."
No  idea of when and how Peace might launch any attacks.
Two immediate thoughts:  Apart from the bad reporting in the Dow article, that article shows that  Enron got beat by, among others, two federal (Canada and the US), one state  (SRP) and one municipal (LADWP) government.
David Freeman, who now heads up LADWP, was appointed "Czar" by the State of  California and charged with the task of implementing Steve Peace's brain  child (AB 1890).
Freeman set up the ISO and PX market structures.
He also  set up the Governing Boards.
Subject: Finance Project

Hi Kim: Any luck withJackie re: getting together to start the project?
And if there's anything else I can do re: your meeting on Monday, don't  hesitate.
Leave me a voicemail and let me know how the meeting goes.
I'll  be in Vancouver with the EBS gang Monday/Tuesday, and if all goes well maybe  I can chat up some folks while I'm there.
Best,
Subject: Study?

Greetings:  Well, there's a finance midterm coming up and some of us have discussed  getting together the weekend before for a study session.
I just grabbed an old list from last year so apologies if I've included folks  who ain't even in finance, or if I've left some folks off.
Sorry to those  who received in error, and please forward to anyone else who might be  interested.
Anyway, anyone interested?
Hope all is well with all.
Best,
Subject: Legal Analysis on AB 1890

I think it would be a good idea to have Ron Carroll in Watkiss' shop to do a  parallel analysis to what we're going to have Mike Day do.
Ron's very good  and has done much work on these sortrs of issues.
You comfortable with that?
Subject: Peace Letter & FERC Transcripts

I've been asked for a copy of the transcript from the FERC hearing in S.D.
Any chance of getting that?
And do you folks have a copy of the Peace letter  (treatise) sent to FERC last week?
If so, could you fax it to 415.782.7854?
Many thanks.
Best,
Subject: Pricing for California utilities

Steve: I think I already forward these to you, but if not, they're the prices that  Henderson came up with for fully shaped prices to the utilities.
May be  useful re: conversations with the Street about getting the utilities out of  procurement.
Note that the date on the prices is 10.02.00 so they're  somewhat stale, but arguably still indicative.
I'm also going to give you  the prices Belden just gave us (prior to the run up yesterday, though) for  prices at SP15.
Best,
Subject: Belden's prices

Here are the very indicative prices Tim gave us for 5 year deals at SP15.
They'll likely  change by the time we meet with Sempra on Thursday.
25 MW, on peak (6X16):  $53/MWh 25 MW, base load (7X24):  $45/MWh 500 MW, on peak (6X16):  $55/MWh 500 MW, base load (7X24):  $47/MWh
Subject: DRAFT slides for Sempra Meeting

They're still in the formative stage, and the title is korny, but wanted to  get the ball rolling.
No pride of authorship.
Feel free to hack away.
Best,
Subject: DRAFT Slides for Sempra Meeting

Attached for your review is a rough cut at slides we're preparing for the  meeting with Sempra next Thursday.
Thoughts and comments are appreciated.
Please disregard korny title.
Subject: Midterm

Good morning professor: Unfortunately, I'm traveling on business today (it's raing in Vancouver) and  can't attend class tonite.
I was wondering if you'd be distributing the take  home midterm in this evening's class.
Also, could you resend the access code  for the Craftmade case?
I believe that I copied it down incorrectly.
Thank  you very much.
Best,
Subject: Great News!

Knew you'd be dying to know that Barry Staw will be teaching a class on  "Creativity" in the Spring.
Be sure to reserve your place today!
Best,
Subject: Summary of Seab's Paper

Hi Mary: When Seab completes the draft of his reader-friendly exec summary, could you  make sure that Karen gets a copy to review?
Thanks a million.
Best,
Subject: Picks

Ok.
Here it is.
Quick and dirty.
Make any changes you like.
You're right,  if anyone's going to beat St. Louis, it's going to be KC, but I took St.  Louis.