Q: Lawrence, I hope you and your family are fine. Is there someone from your friends and relatives, who is involved in this terrible strikes in New York and Washington? I hope not, if yes let me know who. You may remember Dan Plice, who made a joke on Hub's party as he told us, that Ronald Reagen is his uncle. He lives since 10 years in NewYork, doing business in IT. At the moment I have no living sign form him but hope he is ok. Unfortunatly this is a bad time to congratulate and feel happy with someone, who did a great step foreward in his career, but I want to use this email to do so. Believe me, all members of the Stammtisch are proud to have you, the new COO of ENRON, as a friend. Say hello to Kathrin, Mary and Nicolas. Servus Ferdl PS: You missed a big trinking time on the weekend of the 25th aniversary of the Stammtisch. More info's and pictures will follow later.
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A: News

Q: Please retrieve a pwx tag for one of EPE's schedule for the 24th on Sunday 23rd for EPE checkout purposes. Pwx creates their tag the day before. Please include this tag number in EPE scheduling sheet for the 26th. The schedule is highlighted in "Pink". Thank You.
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A: EPE SCHEDULE FOR SEPTEMBER 24TH

Q: Savita In our testing we have found the inability to manage our wing-strikes risk. The way it works for power markets is that most traders would be unwillling to trade more than 250MW of a wing strike without widening out the bid offer. Similarly the risk at some point can get high enough to suspend wing strikes. In the current option manager, the only possibility is to increase or decrease the ATM suite vol (which has little effect on the wing strikes anyway). For that reason we need a volumetric control for each strike. The volumeteric control could be a toggle which could be turned on or off. If the volumetric control toggle si on, corresponding to each strike, there would be a maximum volume. If the strike is hit or lifted by that volume, that strike is automatically suspended and the trader notified. This allows the individual strike risk to be limited. This also allows us to put some less liquid markets out there - where the price discovery is evolving. In those products we can put the volume to be limited at 100 MW for each strike making the risk more manageable. Pls give me a call, so that we can discuss this further. Harry Arora
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A: Option Manager - extra features

Q: Attached is the latest draft of the PSA for Project 20/20 There are several schedules attached under which any exceptions to the representations and warranties of Seller (ENA) need to be disclosed. The following are the relevant sections (and its associated schedule) in the PSA and those persons who area of responsibility these sections fall under. Please review the relevant sections and provide any information which is relevant for that section and its associated schedule. If you have any questions please call me at (713) 853-3512. This transaction is still highly confidential and should not be discussed with any third parties. Section 3.1(b) - Noncontravention - Gerald Nemec, Rob Taylor Section 3.1(c) - Consent and Approvals - Rob Taylor Section 3.1(d) - Title to Membership Interest - Rob Taylor Section 3.1(g) - Capital Structure - Jim Coffey Section 3.1(i) - Financial Statements - Jim Coffey Section 3.1(k) - Absence of Certain Changes or Events - Jim Coffey (accounting related), Gerald Nemec (disputes), All others review also. Section 3.1(l) - Contracts and Agreements - Gerald Nemec Section 3.1(m) - Compliance with Laws; Permits - Ken Choyce, Ann Elizabeth, as they relate to EMS Section 3.1(n) - Title - Ann Elizabeth White, as it relates to EMS Section 3.1(o) - Condition of Property - Ken Choyce Section 3.1(p) - Litigation - Gerald Nemec Section 3.1(q) - No restrictions - Rob Taylor Section 3.1(r) - Taxes - Rhett Jackson Section 3.1(t) - Related Transactions - Gerald Nemec, Rob Taylor, Rhett Jackson Section 3.1(v) - Environmental Compliance - Ken Choyce, Ann Elizabeth Everyone please review all the reps, and warranties and let me know of any issues, but the above listed persons are primary points for these issues. If anyone listed above feels that someone other than themselves is more appropriate for providing this information, please let me know as soon as possible. Timing is critical on pulling together this information, so please provide this information by no later than Friday of this week. The PSA will be executed next week. Please let me know also if there are no issues.
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A:
Project 20/20 PSA Schedules