David, During today's VaR coordination meeting we had a discussion of issues related to mapping of the forward price curves into core locations. Mapping is a necessity dictated by the limitations of the computer system: we have to reduce the dimensionality of the problem to stay within the bounds of available CPU memory. Also, in some cases the quality of price discovery is poor and it's difficult to model the price curves independently: we solve the problem by mapping them into more liquid and better behaved core locations curves. We have agreed on the following: 1. Winston will investigate the IT side and determine to what extent we can increase the number of forward price curves that are simulated as basic (core) curves. He will investigate the impact of a larger number of the core curves on the time required to complete the VaR run. 2. The curves associated with the biggest 10-20 positions in each commodity should be modeled as core curves (i.e. no mapping into other locations). It makes sense to monitor the biggest risks separately and avoid aggregating them into less transparent aggregates. 3. The results of an automated clustering (mapping) procedures should be systematically monitored by a human and corrected if they misrepresent the risks of the trading positions. This responsibility should be vested with one person (right now the responsibility is dispersed through the organization and this means in practice that nobody is responsible). Research can allocate one person to this task; cooperation of trading and RAC will be critical. Vince
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answer: VaR
Dear Medicine Bow Shipper: We received notification that the 5th segment to gate valve 6 providing a total firm capacity of 495 Mdth/day was approved by FERC today. Based on the feedback some of you have provided today, and since this is late notice on a Friday afternoon, the contracts will be effective on Monday, October 29, but the capacity will be available tomorrow and Sunday. We filed the 6th segment to gate valve 5 this past Tuesday (October 23) and are prepared to file the final segment as soon as one currently being reviewed is approved. Please call me if you have any questions.
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answer: Medicine Bow Tie-In Capacity
Jason: I would like to meet with you on January 8, 9 or 10 to bring Cheryl Nelson and me up to date on the remaining files so that Cheryl can take these back. Please call me when you are back in the office. Hope you had a great New Year!!!!!!!! Sara
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answer: Meeting at Enron to discuss outstanding files
I have a bunch of NDA's coming thru, so I thought I'd send you an email: 1. Leslie drafted an NDA yesteeday with Proxicom, Inc. - I don't know if she ran it by you... 2. Ariba, Inc. 3. Commerce One, Inc. 4. Exodus Communications, Inc. 5. Financial Settlement Matrix 6. Interliant, Inc. 7. Inwarehouse.com 8. Oracle Corporation 11. Sabre Corporation
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answer:
NDA's