IN: This is an email
The Title V air permit for C/S No. 4 has been issued. There are some requirements and conditions under this permit that the team should be aware of and will be required to comply with. I would like to visit with the team at their safety meeting in June or july to go over the conditions of the permit. Please give the the dates in June and July when your next safety meeting is. This Title V presentation should last about 3 hours. Thanx

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OUT: Title V Permit for C/S No. 4, Klagetoh
QUESTION: I'm trying to track down that presentation for you, I need the directory information. As soon as I get it I'll have it emailed to you. Hope you're staying out of trouble...
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ANS: Presentation
<<IPW092401.pdf>> Good Morning, Attached, please find the latest issue of our Independent Power Weekly. Also note that there is a replay available of our conference call, which took place last week. The dial-in number is 402/220-7493. The PIN # is 7493. The call featured Judah Rose from ICF Consulting. Topics discussed included: 1. Recent trends in the US power market; 2. Their impact on the generation supply chain; and, 3. The relationship between GDP and power demand. A copy of the slides that accompanied Judah's presentation is available upon request. Summary: 1. IPP's Fall 5.1% Last week our our IPP composite declined 15.4%, outperforming the NASDAQ (-15.7%), but underperforming the S&P 500 (-11.1%). NRG Energy, which was down 8.8%, was the strongest generator in the group. International Power was the weakest performer, declining 30.5%. 2. Generation Oriented Utilities Fall 6.9% Our universe of generation oriented utilities fell 6.9%, outperforming all the major market indices. DTE Energy, which was down 2.7%, was the strongest performer in the group. PPL was the weakest performer, declining 13.5%. 3. IPPs Trading 24% Below Private Market Asset Value Importantly, our analysis indicates that all the major US IPPs are now trading at or below the private market values of their assets. As a group, the major IPPs are trading at a 24% average discount to their private market asset values. NRG Energy and Reliant Resources are trading at the most significant discounts to their private market values-33% and 34%. 4. Disparity Between Public and Private Market Valuations is Unsustainable We believe this situation is unsustainable and envision 3 scenarios that could play out. 1. Stock prices may simply rebound correcting the valuation disparity; 2. IPPs limit the amount of capital allocated to new plant construction and pursue share buybacks or acquisitions of other IPPs; or, 3. Traditional utilities (both domestic and foreign) or other entities from outside the industry pursue acquisitions of IPPs. Regards,
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answer: CSFB Independent Power Weekly--Issue #44
Attached for your review are the following: 1. Enfolio Master Firm Purchase/Sale Agreement 2. Transaction Agreement (Package 1) to Master Firm 3. Transaction Agreement (Package 2) to Master Firm 4. Enfolio Master Spot Purchase/Sale Agreement 4. Enfolio Spot Confirmation - Master Spot Purchase/Sale Agreement Governs Please review and call with any questions.
Answer: Devon SFS Operating
Here is an email: I again reviewed the storage contracts on which large value has been assessed. The Cove Point LNG, Limited Partnership and Egan Hub Partners, L.P. are both FERC regulated entities and both agreements have negotiated rates. The Cove Point deal has a negotiated reservation charge and the Egan Hub Partners has a negotiated storage reservation and injection charge. Since we are buying the assets of Columbia and assigning the contracts to Enron and these deals are at less than max rates, they would be subject to reposting upon assignment and there would be no guarantee that Enron would receive these rates in a competetive bidding situation. It is my understanding the discounts were taken into account for valuation purposes, however these discounts are at risk due to posting requirements. The remainder of the storage contracts would require consents to assign. Note: Any transport contracts with discounted rates would be subject to the same as above. I am verifying the reposting requirements with Randy Rich of Bracewell & Patterson (FERC Counsel) and he is to get back with me early this afternoon. I will let you know if anything changes.
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A: Columbia Energy Document Review
QUESTION: Mike Attached is the summary of the Carlsbad/Crawford/WT-1 oba. The balance as of 11/30/2001 is $1,497,337.92 due Transwestern. This balance will probably grow by an additional $50,000 due TW in 12/2001. Please let me know if you desire additional detail. Hopefully we already reconcile. I will call Sharon Tischer on Wednesday January 2nd to discuss the other balances that exist between TW and DEFSSW - and also the possibility of netting the Hobbs and Artesia payable balances against the Crawford and Waha receivable balances.
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ANS:
"Crawford" oba