I have spoken with Calger about us going through the West Power contracts with his team next Tuesday through Friday. They are gathering an extended set of information (including the items on the current matrix) on their top 25 exposures. The top 25 exposures include the top exposures under Master agreements and in many cases include numerous contracts. Chris said that the 26th exposure was about $10MM and one would need to get to about the 50th exposure to get below $1MM. I asked him to forward down whatever they had completed to date so we could get educated and keep a central file. He is also going to forward a call in number for a conference call tomorrow so we can begin to get educated on the current effort. Lorraine Becker (ext. 31680) will be handling travel arrangements. Please forward your credit card # so she can complete the reservations. (P.S. Piper is getting verification from Bowen regarding travel expenditures.)
Answer: West Power
Doug, can you tell me what the Gray County Interconnect capacity is set at in CAS now? Also, have you heard what the setting is to be after the additional equipment is installed? Thanks
Answer: Gray County Interconnect
I received a call from Jim Guest at the FERC OCA this afternoon concerning the Enron situation. He had read the articles and heard the reports. Wanted to know if bad accounting was the root of the problem. I advised him that it was bad investments that was the real issue. He asked about the use of the pipeline assets to pull Enron thru the liquidity crisis. I gave him a brief overview of the Dynegy cash infusion and the bank revolvers. He said there was some concern at the FERC that projects we might be proposing may not be able to be funded due to the reduced ability of the pipelines to obtain outside financing due to the securitization of the all the assets. I indicated that it was my opinion that good investments in pipeline facilities would probably be looked on favorably at Enron these days. Thought you'd want a quick update. I haven't advised Drew or Greg Porter yet. Thought you might want to cover with them.
Answer: FERC Contact Re: Enron Situation Impact on Pipelines
Mark Although the Xcelerator has been moved to Corp, Jim Derrick asked that I continue to receive legal support from your group. I and people in my group have worked some with Teresa Bushman and Angela Davis in Lance Schuler's group. Would you like me to consider Lance or someone in his group as my legal "point person", or is there someone else you'd prefer? Thanks
Answer:
Quick question - Xcelerator legal "point person"