Here is an email: NGI's Daily Gas Price Index published : October 29, 2001 ALJ Clears Transwestern of Market Power Charges A FERC administrative law judge has found no improprieties, nor evidence of the exercise of market power in negotiated rate contracts between Transwestern Pipeline and two shippers on its system, which resulted in the shippers being charged as much as $27/MMBtu last February, far in excess of the pipeline's allowed transportation rate of 38 cents/MMBtu (RP97-288-009). ALJ Jacob Leventhal had only one fault to find, and that was with Transwestern's method of posting capacity. The judge said, and Transwestern agreed, to modify its tariff "so that all posting, bidding and award procedures are set forth in a separate provision with an appropriate caption" on its Internet bulletin board. Shippers had said that reviewing capacity on the Transwestern web site was "a tortuous process." Indicated Shippers claimed Transwestern's inadequate capacity posting and award procedures did not provide all interested parties with an opportunity to bid for the capacity that was available. While "both Indicated Shippers and (FERC) Staff find it curious that SET (Sempra Energy Trading) and Richardson (Products Co.) were the sole bidders on the contracts awarded to each of them...curiosity does not translate into proof," the judge said. Witnesses in the expedited hearing testified no bids were considered in advance of the capacity posting. The judge subsequently found the capacity was awarded in a manner consistent with Transwestern's tariff. Similarly, Levanthal could find no evidence that Transwestern exercised market power in negotiating the rates with shippers or withholding or threatening to withhold capacity. The capacity was available at recourse rates, and the shippers knew those rates were available. "Staff's arguments really are criticisms of the posting and award procedures, but do not demonstrate the exercise of market power." The two shippers said they made a business decision to propose the "index-to-index" formula that produced the higher rates, rather than take the recourse rate "to minimize any risk on transportation options." The index-to-index formula refers to taking the difference between the daily published commodity prices at two different points and subtracting to get the transportation rate between them. In this case the two points were the San Juan Basin and the SoCal Needles delivery point. The case was set for expedited hearing last summer by the commissioners acting on staff recommendations.
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A: NGI Article on TW Ruling
Q: Megan, I have created deal 514353 to capture the $.04 agency fee for the Tenaska deal. This deal will have zero volume and zero commodity price with a demand charge of $.04 on 45,000/day. Since there is no volume, Mark McCoy will be scheduling this deal as a zero nom. Hopefully, this will allow the demand charge to flow through the system. Let me know if you don't see this happening. For Sep and Oct, you will need to get someone in Volume Management to create an accounting arrangement for this deal (pathed to the imbalance pool). When actuals come in, you can give me the volumes and I will change the demand charge. I took the demand charge off of the sale ticket (#384258). D
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A: Tenaska
IN: Mark and David, Below is my first stab at the organization memo. I didn't over focus on specific wording and I am not sure how you want to address the various groups that will be affected. I believe we need to address all of them by name and they should probably be in alpha order as to not upset anyone on the order. I also didn't know any other information that you may want to include with regard to the successes from the group year to date. Greg, Jeff and I are getting together for lunch tomorrow to discuss the New Works organization. I think that this should come from Enron's office of the Chairman vs. the business units because it does affect 2 different lines of business and it will have more impact and clarity for the other groups especially, my departure from Net Works. After you guys pretty this up (and destroy it) please send it back via email and i'll make sure and coordinate with Whalley. Thanks,

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OUT: draft org. memo
IN: This is an email
Enclosed is the copy of the TP list with the updated fields we would like to have completed. Let's meet today around 3:00 if possible to fill in the commercial leads. It is also located at M:\Eprojects\UBS_Start_Up\Pwr_Impl_Plan Debra

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OUT: TP List
QUESTION: Brothers, Linda Grumbles just informed me that John is not recovering the way the Drs. want him to and that the same artery may be blocked again, or even closed. In other words, the first catheter treatment didn't pan out. He goes back in for another one, this time probably installing a stint in the artery to keep it open, next week on Sept. 14. His email address has changed and it's now jgrumbles76@hotmail.com. I'm certain he and Linda would appreciate your keeping them in your prayers. Yours in -kai-,
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ANS: [smu-betas] Grumbles
IN: Lindy, As mentioned in the phonemail message I left, below is a revised listing of the Order 637 Imbalance provisons filed that we want to either retain or potentially trade in 637 negotiations. I moved the mandatory cash-out provision into the trade column. Please review and advise if you agree with the list. Thanks. gh Already in TW's Tariff 1. Dollar valuing. Need to terminate volumetric OBA's where possible to minimize TW's financial exposure. Proposed in TW's 637 Filing - Keep 1. Definition of 6 indices (vs. 3 in current tariff). 2. Parties may mutually agree to cash out PNR. Could probably do today without this language. 3 . Clarification that PNR may be used by Operators. 4. May use PNR for "auto-balancing". Proposed in TW's 637 Filing - Could "Trade" 1. Mandatory cash-out each month (after netting and option to trade). 2. Daily balancing. Including daily tolerance, daily auto-transfer to PNR & daily pricing 3. Smaller tolerance range. Proposed change from +/- 10% to +/- 5%.

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OUT:
637 Imbalance Provisions