Here is an email: Cindy/CNG is looking at the park and loan deal. She laughed when I said gave her the volume of 100,000. The most she will consider is 50,000. So I told her to look at a total storage volume of 50,000 and ENA would pay $4500.00 in demand charges each month. She needs to think about it. I'm out tomorrow but I will call her. Also, we are actually looking at -25,000 to 25,000 and we would be billed
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A: CNG Park & Loan
Here is an email: Confidential - Attorney Work Product/Not Discoverable A. PGE I. Termination Rights Based on the Failure to Post Collateral It is possible that we could terminate the following contracts based on PGE's or one of its subsidiaries's failure to post collateral as required by the underlying contracts": 1. PG&E/ENA - Financial ISDA - Enron exposure $23 million 2. PGET Power/EPMI - Physical power - Enron exposure $215 million 3. PGE Canada/Enron Canada - Physical gas - Enron exposure $15 million 4.PGE Canada/ENA - Physical gas - Enron exposure $1 million II. Termination Rights Based on PG&E's Failure to Pay Indebtedness It is possible that we could terminate the following contracts based on PG&E's or one of its subsidiaries's default on indebtedness in excess of a threshold (either $100 million or $50 million): 1. PG&E/ENA - Financial ISDA - Enron Exposure $23 million 2. PG&E/EPMI Physical Power -Enron exposure ($90 million)
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A: PG&E and SCE Defaults
Here is an email: Got your message re: reverse auction all of the utility's demand. Getting (interestingly complicated), though. Now, the utilities want to create a "core/noncore" split in electricity, like in gas (where large gas customers can't take commodity from the utility). With a core/noncore split, Edison claims that QF contracts, nukes and other existing generation that it still holds is sufficient to meet "core" needs and it therefore may not need "contracts." As you can imagine, large customers ain't clamoring to get thrown into the market as "noncore" customers right about now. But they may find themselves without a choice. I talked to Calger on Friday about reverse auction versus benchmark and I'll be talking to the traders about it this afternoon, and we'll be discussing further when Rick, Steffes et al are here tomorrow. Will let you know where it goes. Best,
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A:
Reverse Auction