Rick, Attached for your information and input is a copy of a presentation I am putting together for EGM. I would appreciate your comments on the presentation but especially need your input on your section. The LNG page is on page 6 and needs some work. there is also a typo. On the graph, we need to find a way to illustrate our business graphically, what do you think? I would appreciate a quick turnaround of your initial changes. After we complete this first draft, this will be a continuous work in progress. Thanks,
Q: What is a potential subject line for this email?
answer: presentation
I spoke to Kate Cole and she said Enron NetWorks (I'm not sure of the correct spelling yet) was incorporated as a Delaware corporation on 4/13/00. She has made me a copy of their articles of incorporation and LLC Agreement and I am sending a messenger to pick them up, as well as a copy of the officers and directors, which appears to have been approved. The banking resolution went to Julia today for signature. Do we need to adopt any other resolutions (brokerage, approval of agreements, etc.). How about adoption of the trading policy?
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answer: Enron NetWorks LLC
With the Dynegy announcement on November 9th, the U.S Trustee's office removed Enron from the PG&E Official Unsecured Creditor's Committee. Dynegy is already on the Committee. Important hearings in the PG&E bankruptcy are scheduled for December. These hearings should begin to vet the issue of preemption, or the ability of the federal bankruptcy court to preempt state law under the bankruptcy code, thus freezing out the CPUC from ruling on the transfer of PG&E's generating assets to FERC jurisdiction. We continue settlement discussions PG & E. Including offsets in our trading contracts, our net nominal exposure to PG&E is $511 million. The claim is disputed primarily due to the pending FERC refund case. In initial discussions, Enron offered a $85 million discount. PG&E has countered with a $237 million discount, a $152 million gap. We are meeting with the company in an attempt to narrow the difference. Southern California Edison (SCE) has broken off settlement negotiations. The are forwarding a position that the Direct Access customers should pay a share of the IOU's undercollection, even though many Direct Access customers were sourcing their power via ESP's at that time. Enron Government Affairs believes that the CPUC is behind SCE's position. This regulatory scheme would have Enron owing SCE money on a net basis. The Power Exchange (PX) Bankruptcy continues. Enron has taken a visible role on the PC Official Unsecured Creditors Committee. A liquidating plan in the bankruptcy should be filed shortly.
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answer: California slide for BOD package
Diana - I have the following charges on BPA's revised final bills and was wondering if you could tell me who's books these should go on? October 2000 $ 3,214 February 2001 $ 4,153 I spoke with Corrine Surface at BPA and learned that these charges are being applied given the following situation: On October 10, 2000 and February 1, 5, and 6, 2001, our Real-Time group called BPA to reserve transmission for some schedules. Our R-T guys requested tranny using account numbers (such as 794811) that were for day-ahead firm transmission, thus entering the field of Unauthorized Increase Charges (incurred at $12,000/MWh) . Since BPA did not go over the structure of the product in that account, they are not going to charge us the $12,000 per MWh, but since we did get firm transmission, we will have to pay the $59/Mwh for the firm; hence the above charges. I understand that you have also spoken with Corrine at BPA and were going to talk to Bill. Can you let me know where these charges need to go? (Bill - Diana is out this week, so if you have already talked to her about this, please let me know) Thanks, Virginia
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answer:
BPA charges