This is the most current clean version of the GE breakout contract. You have also received a list of site specific references in the contract to assist in the preparation of the final document. I will contact Kent Shoemaker today to see how close we are on the form. It is my understanding that the lawyers involved in the projects will take the laboring oar once the form is ready to go. I'll let you know as soon as I hear something from GE. I am also trying to set up a meeting with ABB today or tomorrow. I will send you the current version of that contract as well, although we have not had any input from ABB on it yet. Kay
Answer: Gas Turbine Purchase Agreement.DOC
Paul, I have made revisions as discussed to the Master Agreement. However we need to include on "Exhibit A" info regarding "Invoices, Payments", etc. You may either send me this information or complete the document at your convenience. Please check the final revisions, if in agreement, print two originals sign, and forward both to my attention. Upon final execution, I will return an original for your records. It has been a pleasure working with you in finalizing this agreement. Regards,
Answer: Agreement
Below is a RUSH list that we need to approve by the end of the day. From the US, the only response I expect will be from Leslie, with all declines for power. I NEED TO HEAR FROM AUSTRALIA TODAY ON THEIR COUNTERPARTIES.
Answer: RUSH APPROVAL-Australia + Japan Weather
George, it is probably worth speaking to them about the US assets - probably the smaller Virginia sites which are probably less core and may be great brownfield sites. I'm not sure we would have an interest in UK coal fired assets. I would speak to Sherriff on that one. However, I would caution that real value is created through RAPID brownfield development leveraging on Enron's development, electricity, coal and emissions talents. For ComEd and Homer City, Mission has already paid up for these assets based on gas being on the margin. Now that was before a lot of the run up so it may be worthwhile; however, I think it may be difficult to arb these guys. As well, I think it may be difficult to get the asset out of them - I'm not sure that they can turn their strategy or show a loss this quickly from a Wall Street point of view. We should probably take a shot at the smaller probably less core Virginia assets. Are they in QF, if so there may be upside in the deal from Duran's point of view.. Dave, given the rise in gas prices and gas being on the margin for a larger part of the load curve, coal assets or coal QF's may be great assets for us from a restructuring and power asset (expansion/brownfield) point of view. Have we looked at this? Are there many in the market? Regards
Answer:
Edison Mission Energy