Attached are the latest documents from the ECT power trading group. The documents distributed in March, 1999 were revised recently although no redline is available. There are no other forms currently in use. I'll speak with Elizabeth Sager about pending revisions. Also, I will send to you both my thoughts regarding an action plan for the coming months. Let me know if you need anything further and if I should be copying any business people/legal on our e-mails. Sara
Answer: Power Trading Documents
Just wanted to keep you posted on this deal. You called me earlier and said that the counterparty, Deseret, had recorded this deal with Enron buying. We entered the deal with Enron selling. I have Matt Motley, Kim Ward, and Tim Belden reviewing the tapes of Kim Ward's conversation with Desret last week, in which it is clear that she was selling to Deseret. She's spoken with her contact there, who still disputes the deal and says we were buying. They're all talking it over right now, and I'll let you know as soon as we make a decisiion on whether or not to change this deal. Thanks for your patience,
Answer: 465821
Sovereign Bond Spreads: =20 Significant New Issuance - CSFB Commentary: ?=09The first week of September was extremely positive for the region with = a significant increase in secondary trading volumes and bond prices. Relati= ve financial stabilisation in Argentina removed pressure from Latin America= n and other emerging markets, shifting the focus to the impact of local fac= tors on prices in each region. It was a busy week in the Turkish market, wh= ich started initially on a weaker note because of the disappointing inflati= on data released on Monday, but then recovered to follow other Eastern Euro= pean markets and closed around 1.5 points higher on the week. The long awai= ted resignation of the Minister of Public Works added to the positive senti= ment in the market. The Russian market rallied this week, first on the back= of Latam stabilisation and then encouraged by the Moody's rating upgrade (= see below). Prices peaked on Thursday, immediately after the upgrade, but f= ailed to stay at those levels due to profit taking and a sliding Latam mark= et, closing only one point higher than last Friday. Central and Eastern Eur= opean investment grade assets remained stable throughout the week, which is= a good sign given the sell-off in US Treasuries. Other countries in this r= egion gained around ? point, with Romania being the best performer gaining = ? point. ?=09On Wednesday, Moody's raised the ratings of outstanding Eurobonds of th= e Russian Federation to B2 from B3 and changed the outlook for all hard cur= rency instruments to "positive" from "stable." Moody's noted that Russia's = recent economic performance and tax reforms have generated twin surpluses (= current account and budget) and large foreign currency reserves. In combina= tion with some debt relief, these factors have made the country's capacity = to service its debt much greater.
Answer: Sovereign Bond Spreads, 7 September 2001
Further to our discussions about our EPNG capacity: Our research had resulted in an opinion that there is little value associated with PG&E's (northern CA customers) recall rights on Block III capacity. While it was not part of the original settlement, the 24 hour RE-recall rights to the shipper of record appear to give PG&E a DAILY call on capacity at best. Because we have pieced this opinion together based upon rulings in various proceedings, we would like a more formal regulatory/legal opinion of the mechanics of the RE-recall provision that has been developed over time. Is this something that either of you can provide or should it go to Randy? The results of this inquiry will set the tone of our next round of dicussions with EPNG. By the way, still waiting on their written reponse to our letter..... I think they have bigger fish to fry. Please advise. Stephanie
Answer:
Block III Recall Rights