Tana and I were unable to find anything useful here. David Mitchell thought he might find something for us in his files and will send it to us but as he remembers it, we never got very far with the details. He probably just advised that if we ever did set up a CTA that it should be completely separate - both in legal entity and staff - from our trading activities and should be Chinese Wall fenced as well. I'll send over whatever we receive from him and warned him that you might be calling.
Q: What is a potential subject line for this email?
answer: CWT memo re: CTA
As we breifly, ECS is developing a product for gas driven (as opposed to electric driven) horse power. Essentially, the value proposition involves "wrapping" an existing gas horspower station with a Compression Service Agreement and allowing the Pipeline to pay for the shaft horspower in commodities other than (or solely in) cash. ECS provides shaft horsepower (meaning that we bring gas, as opposed to elecricity) to the compressor. Because Shippers would continue to pay for its fuel per the existing tariff, the Pipeline would utilize shipper fuel to pay for shaft horsepower. This structure represents an avenue for the Pipeline to hedge the value of the molecules it collects from Shippers or simply to levelize their fuel burn. Timing and basis differences could, presumably, be included to increase the value to the Pipeline and potentially passed through to the Shippers. Attached is a deal example that I recently presented to Great Lakes Gas Transmission that solves a fuel levelization problem they have on their system....they overcollect in the Winter and undercollect in the Summer. It may be of some use in reviewing to help ascertain answers to the following: 1) Would a gas compression service deal be required to be filed by the FERC? My sence is that the answer is no. This is simply an O&M service contract and lease agreement. 2) If a Pipeline is on an annual gas tracker, what would be the tracker implication? It should be flat, as technically, ECS has not changed the amount of fuel collected/utilized....we have only provided optionality as to hedgeing??? Please give me a call to discuss. Thanks
Q: What is a potential subject line for this email?
answer: Gas on Gas ompression Deal
Past meeting minutes were inadvertently left out of the board packets. The attached board meeting and executive committee meeting minutes are for your review. Thank you. Marilou A. Schopper Senior Vice President Center for Houston's Future
Q: What is a potential subject line for this email?
answer: The Center -- board package addition
Hi, am going to copy you on the penalty language and sample confirm with penalty language I sent to Matt Fleming today. I will follow up and forward to you, a sample of a normal fully-managed confirmation. I think the "normal" confirm could easily be duplicated. I will also send a more complex version that I think will have to be done by Legal. See below for penalty language info. Thanks, Christy
Q: What is a potential subject line for this email?
answer:
Tier -- Penalty Language