Hi Jerry, Do we have a final, execution version of the letter agreement? I understand that Enron's tax folks are ok with the suggested changes to the LLC agreement. We are working with GE to get the change orders executed. Thanks,
Answer: Execution drafts
Here is an email: As most of you know, one of our beloved team members had a serious accident during the MS150 on Saturday, just before the Bellville lunch stop. His name is Joseph Kaye, and he is a two-year veteran of Team Enron. He was taken by helicopter to a trauma unit in the medical center where he remains in ICCU. I want you to know that even though his prognosis was bleak at one time, he has come out of his coma, has demonstrated control of all his extremities, and we are anticipating a full recovery. He has several fractures of his skull which will heal, and he has no spinal impairment. This healing is a miracle unfolding. I have just returned from a visit with Joseph's family. I told them you have been e-mailing and calling, and they asked me to thank you for all the concern you have expressed and the prayers that have been sent his way. The family asked that I receive any cards or letters you may wish to send, and I will make sure they are delivered as appropriate. Please send to: Amelia Alder, Enron Corp, P.O. Box 1188, Suite 3AC-3120, Houston, TX 77251-1188. We have been unable to determine the cause of the accident, and only know that it did not involve a collision with a motor vehicle or another bike. And you might know......those of you who share his passion of cycling......some of the first thoughts he was able to communicate by writing with his good hand were: "Where's my bike?" Please keep Joseph in your thoughts and prayers, and I will keep you posted if there is any other news. Best regards,
What is a potential subject line for this email?
A: MIRACLE IN BELLVILLE
Q: I met with the Research team responsible for building a model for EES and ran through the model. The model can be used to value ERCOT deals or at least we can use it as a benchmark for pricing. I have attached a document that summarizes what EES is using the model to price, and how we can use it to price our deals. I am out tomorrow but will be back in the office Wed. morning. Research is looking at historical ERCOT prices and customer load data (TXI). I will set up a meeting on Wednesday to further discuss the model and other issues associated with deal valuation. Call me on my cell if you need to reach me, (832) 275-8212 Regards
Propose a subject line
A: Valuing ERCOT Industrial Load
IN: Attached is a clean CSA, only change is to date as of today. Attached are a clean and relined MNA for final review. Troy, I will call after 1 to get your final approval and coordinate execution of the documents.

Generate a subject line.

OUT: Enron Master Netting
IN: This is an email
Dear PIRA Client, PIRA has created a new slide presentation on the U.S. economy. You can access this presentation via PIRA Online (www.pira.com) by logging in and choosing "US Economy" from the new "Macro Data" drop-down menu at the top of the screen. The table of contents is listed below. Given the overall importance of U.S. economic trends and their impact on local and international energy markets, PIRA maintains and analyzes a database of key economic indicators. This effort supports our ongoing analyses of energy supply/demand fundamentals and the associated market forecasts. This slide presentation - which will be updated as new data become available - is being made available complimentarily to all PIRA clients to support their own analyses. Gary N. Ross Chief Executive Officer PIRA Energy Group

What is the subject?

OUT: PIRA Presentation on the U.S. Economy
Last week, the WSPP drafing group met in sunny California to continue the slow and steady march towards a standardized, "national" agreement. Schedule C , the service schedule for firm transactions, was the primary topic and the following is a summary of where the group is headed. After much discussion, we proposed that the group consider the definition of firm energy that Tim, Christian and others have been considering. The following is proposed language (the base was EPMI's version) that the WSPP group is currently reviewing: Firm Power is power that is sold and scheduled in accordance with applicable reserve requirements for which the only excuse for the failure to deliver or recieve are those set forth in Schedule 3.9 of the WSPP Agreement. Seller shall take steps necessary for the power to be considered Firm Power under this definition. Schedule 3.9 only allows interruption if (i) within agreed recall time, (ii) due to an Uncontrollable Force or (iii) power is need for native load; provided, however it was agreed that a party would neverless be liable for LDs if it interrupts due to native load requirements (this last point is a major accomplishment that apppears to have uniform agreement and will be implemented in the next draft - the group claimed that the "optics" are necessary to help traditional utilities). As a further note, the group agreed to do away with all references to C1 and C2 and have just one Schedule. Changes from EPMI's proposed definition where the result of the following discussions: 1. Generated vs. Sold - "Sold" was elected over "generated" because the group thinks that it is the receiving control area that determines the generator's reserve requirements. 2. "Schedule" was added to bolster the scheduling requirements. 3. "Reserves" instead of "Operating Reserves" was used because the group thought the word operating may be too restrictive. 4. "WSCC reserve requirements" was replaced with "applicable" reserve requirements because the group thinks that the WSPP Agreement is national in scope and should not be limited to WSPP. 5. References to Non-firm supply as being excluded from Firm Power was excluded because the group thought it was redundent - no control area would accept a non-firm supply as being firm. 6. Power rather than energy is being used only bacause that is the decision that has already been made. This defintion will be further discussed at the next meeting on Aug 20th in Denver. Prior to that time, I would like to get your thoughts on how this is shaping up and what additions/deletions are appropriate. I look forward to hearing your thoughts. Thanks.
Answer:
WSPP - Definition of Firm Energy