Here is an email: Here is a quick summary of our meeting on capacity options on TW. Bill Cordes, Steve Harris, Shelley Corman, John Buchanan, Tony Pryor, and members of the TW Commercial Group (including Jeff Fawcett) were present. 1. The group all agreed that while it is probably a good idea to mention that the options could be sold in an online format, we do not want to limit ourselves at this point and should probably just state that a notice will be posted on the TW website whenever we have options for sale. 2. Price: the filing needs to include a discussion of how price will be determined, and how capacity will be awarded. We might also need to include an estimate of how much revenue options will generate in the first year. 3. Need to add a short explanation of where TW will get the capacity if a shipper exercises its call option. 4. Should frame the service as requiring an exception to current Commission policy on reserving capacity...not asking Commission to abandon its policy altogether. 5. May need to address: assignability of options; limitation on damages for nonperformance. 6. Timeline: - Turn around a new draft and get further comments (July 3 week) - Get Market Services started on its analysis of the new service - Begin contacting customers to get their buy-in (Lorraine already has a producer/customer very interested in supporting our filing) - Start the process of getting Board approval (sales of options require Board approval at Enron) - Meet informally with FERC to discuss (Shelley is working on) - Make the filing at FERC (we did not try to specify a date yet) If you have any further comments please let me know. I am going to try to get a new draft out by next Friday a.m.
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TW Capacity Options meeting