Q: Hi Kent, I can get a redline done for you if you want to tell me what it should be redlined against. I don't know about getting rid of the requirement for the inhouse counsel opinion. Maybe after you look at things we can discuss it. Thanks,
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A: Salmon Energy Turbine Agreement
IN: Norma, I am sending you an Excel spreadsheet with proposed merit and equity increases. I have slightly exceeded the merit quota. The equity increases address two issues: retention and and an error in setting a salary at hiring (I tend to be too stingy). Please, let me know if there are any questions. I am forwarding a copy of the spreadsheet to my home address so I can work on it tonight, if necessary. Vince

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OUT: Merit and Equity Increases
IN: This is an email
If we are replacing an existing Master Agreement with an ISDA Master Agreement, please change the status in the master swap agreement database from "Executed" to "Executed-Under Amendment". Once a master is executed, "Executed" or "Executed-Under Amendment" should be the only two options you should ever choose. If you change it to "Draft Sent", "Under Negotiation", etc., it wipes that counterparty's master from the list of executed masters.

What is the subject?

OUT: Master Swap Agreement
QUESTION: There is a P&L Summary for east desk in the Netco directory located at O:/ERMS/erms_adm/Netco/2002/0102/Regions0102/_Converted/East P&L Summ. Please take a look at it and tell me what you think. To simplify and speed up the reporting process, I added buttons that will link to the P&L's. The format may or may not resemble formats used on other desks, but I do believe the data shown is comprehensive. Errol - This may not fit your needs on the financial desk. You may need to design your own. If so, let me know if I can help. Thanks.
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ANS: P&L summ
Please ask your schedulers to e-mail me which pipelines still maintain the ability to do Nominations via a dial up connection to their EBB (modem and a phone line). Please ask them to call their representatives if unsure. Thx RP
Q: What is a potential subject line for this email?
answer: Pipeline Dial Up access
We currently have $21.4 million in reserve for potential Northwest refunds. $10 million currently sits in the LTCA book and $11.4 currently sits in the LTNW book. During the summer, FERC initiated an investigation into the potential of unjust and unreasonable spot prices in the northwest from December of 2000 through June of 2001. Seatlle City Light, Tacoma City Light, Eugene Water and Electric Board, and Sacramento Municipal Utility District all filed claims at FERC for refunds from EPMI. The claims totaled close to $100 million. However, many of these claims were, on their face, spurious. For example, Eugene Water and Electric Board filed for refund of forward purchases which was clearly outside the scope of FERC's proceeding. We hired consultants from Charles River Associates (CRA) to help us with this process. One of their tasks was to apply the CAISO competitive benchmark pricing methodology to the Northwest market. That is, CRA attempted to reverse engineer the CAISO's methodology in order to estimate our Northwest risk. I was informed by our litigation team that EPMI's realistic potential exposure using this methodology was roughly $30 million. We decided to reserve roughly 2/3 of this amount which came to about $21 million. In September a FERC Adminitrative Law Judge heard the case and submitted a draft decision to the FERC. The draft decision recommended against any refunds. This draft decision is supposed to come in front of the FERC commissioners for approval before the end of the year. If this draft decision is approved, it would be appropriate to remove these reserves.
Q: What is a potential subject line for this email?
answer:
Northwest Reserves