Q: Rick, There are very few single issues that require urgent consultation with you, however there are lots of little things that you may want to be aware of: We had an FSA 'Traded Risk' 2-day audit the past two days. The operations/risk group bore the brunt of the work but Michael Pitt and I spent some time with them as well and we did do some level of preparation. Jonathon Marsh, our compliance guy, seeemed very pleased with the result. You never get away clean, but I think that they were impressed with the effort as well as the Enron risk culture. by the way, my opinion of both Jonathan Marsh and Paul Freeman, the new technology guy is quite high - they are both good guys who want to make positive changes and not afraid to say whats on their mind. 2 risk policy issues came up - one regarding credit trading and the other regarding the freight book wanting to lay off credit risk with the credit book. these we are slated to discuss with you tomorrow. There are 2 new bad credits in Metals - 1 related to McCook where two of the 3 companies in the group declared ch 11 - we are owed est. $7.5MM the other co. is the one that has granted us a free gigantic option on tolling ally for power - the commercial team is attempting to work out a situation where we transfer the unsecured claims to the ch 11 entities to a first security package on the smelter in co 3. The other bad deal is a lead company out ogf the NY office where they owe us $450K on financials and we owe them $1MM on physicals - we are working on netting the positions There are a number of deals being worked on surrounding TPL ppa's in which the power positions would be taken on by Enron and we would get cash to either extinguish or re-mark the price (the purchases are way out of the money). There are 3 in the negotiation process - each big - not at the decision or DASH stage. we had a DASH signed off while I was away on ETOL for a gas turbine in which we get tolling in exchange for a capacity payment. I assume you are up to speed on the tragedy at TPL yesterday. Norway is looking at 2 large power prepays with municipal generators - low probability we will be circulating a DASH on $2MM more into Thrace - turkish e&p and pipeline play - total exp =$7.25MM team worked extensively with Jim ledlow and Brad on the analysis. deal looks fine on the surface - 46% iirr vs 35% capital price. only real issue is 'do we want to sink more $ into Turkey in order to improve the chances of a good sale or do we just put progress on hold' good news is that $1.5mm is coming from cash flow from the project. We have in the works one of the few EES NA-type deals with Guiness at a single facility. $9mm in capital. in the markets, we do not seem to be doing particularly well of late - Norway is down, uk gas has gotten caught in a short squeeze, uk power has lost a little, metals is metals .... things are moving on the personell front as well: Rudi starts monday Mike Mumford (internal transfer from Enron Credit) start 9/3 Tracy comes in mid September Blair van Zant -Director credit starts on 9/30
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A: London Update

Q: Tom, Here is the report I prepared on the methods and types of grpahs for this work request. As examples I used the May 2002 graphs, including the Paretos for the Pitch and overspeed faults. If you need additional clarification, or have questions let me know. Mark
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A: WR613 Pitch System performance

Q: Please review the order below entered by the United States Bankruptcy Court of the Southern District of New York regarding document preservation. You are instructed to comply with this order, effective immediately. The order requires that we retain all documents (in paper or electronic form) in existence on February 15. Documents created after February 15 must be retained if, as the order states, the document contains information relevant to: (1) any claim or defense that may be asserted in the bankruptcy by Enron or a party-in-interest; (2) the financial condition or otherwise in connection with the reorganization of Enron under the Bankruptcy Code; or (3) any governmental investigation or litigation now underway or commenced prior to the termination of this order concerning (a) Enron or any Enron-related affiliates or individuals, (b) present or former directors or officers of Enron, or (c) any affilitiates, subsidiaries, partnerships or joint ventures or other entities which, to Enron's knowledge, Enron or any Enron-related entity participated. Please regard the terms of the Order as applying to all Enron companies, not just companies that are a part of the bankruptcy proceeding. If you are uncertain whether you should retain any particular document, please call Bob Williams at extension 5-2402. You should err on the side of retaining the document. This order and email instruction supersede the previous order of the Bankruptcy Court and email to employees dated January 14, 2002. Thank you.
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A: Important Announcement Regarding Document Preservation--Bankruptcy Court Order

Q: Chris Calger and I will be holding a series of meetings with employees today and tomorrow to communicate what we know about how the merger with Dynegy will impact the West power operations in Portland and San Francisco. Chris will meet with his team this morning at 9 AM in the Mt. Hood conference room. All employees who report in to Chris' organization should attend this meeting. In addition, Structuring, Renewables, Human Resources, and the 4th Floor Legal team should plan to attend Chris' meeting. Tim will meet with his team this morning at 10 AM in the Mt. Hood conference room. All employees who report in to my organization should attend this meeting. In addition, Risk, Credit, IT, Government Affairs, and the 3rd Floor Legal team should plan to attend Tim's meeting. If you are unsure which meeting to attend please ask. We realize that many people are out today due to the Veteran's Day holiday (no cash trading or scheduling today). We will have another meeting tomorrow morning for people who were unable to make it to meetings this morning. We will announce the time and place of that meeting soon. We recognize that the last couple of weeks have been unsettling for many people. Our goal over the next couple of days is to get back to business as usual. There are no mandatory layoffs planned for this office. Chris and I met with John Lavorato, Louise Kitchen, and Greg Whalley over the weekend. Their marching orders were clear -- go back to Portland and get back to work! As we mentioned in the all-employee meeting a few weeks ago, this office has a reasonable cost structure and is very profitable.
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A:
What Does the Dynegy Merger Mean for West Power?