QUESTION: Lorraine, here is the new language for the discount letter. You might want to compare the other language in the agreement to that of the existing one to make sure I got the right version (or I'll do it on Monday). Let me know if you have questions. I just ran it by Drew and he is OK with it.
Propose a subject line for this email?
ANS: New red cedar contract
The first facility agreement which needs to be finished is the ESA Facility Agreement. Peter and/or Chris, could you please send/re-send the most recent version with a email stating any open issues, copying everyone on this email. We need to get this one ready to sign tomorrow, if at all possible. My understanding of the commercial deal is that the scope should include change order #3, with 75% of the value of change order #3 payable on or before Dec. 27, 2000, and 25% of change order #3 being added to the January, 2000 payment. Kent/Lee, sorry I didn't mention this in our phone call this afternoon. That's what happens when I'm not working from my list. Thanks,
Q: What is a potential subject line for this email?
answer: ESA facility agreement - close to execution version
james r barker ees patricia downey ees donnie myers/na/enron ENA sold EES 5,000 dth a day delivered on Iroq Zone 1. The price is $3.14. The total volume is 150,000 for the month. Patricia is only showing a purchase in your system of 140,000 for the month. I think you forgot to put in some of the buy/sale activity. My system shows ENA delivered 130,000 to Canajoharie and 5,000 to Tenn-Wright one day (you though little ol' ENA was taking advantage of you). For 3 days we bought the gas back from you and we are showing the buy/sale activity at Tenn-Wright. The total buy/sale volume is 15,000. I think you need to add another 10,000 to your buy/sale activity. Let me know if you have any questions. Buddy
Answer: Sale to EES for April
Here is an email: ENE: Adjust Historical EPS As Per Restatements; Lower 4Q & 2002 Ests. * We adjust Enron's historical EPS for the restatements filed in their 8K published on November 8th. * We revise our stand-alone 2002 EPS estimates to $1.50 from $2.15. We think this could prove conservative, but await further data on Enron's ongoing performance in their energy trading & marketing business. * Enron is currently trading at a relatively large 20% discount to their implied merger value of $12.40. We think this spread could contract as certainty improves over accounting issues, stand-alone earnings power, and the scope of hurdles to merger completion. <<ENE EPS adjustments 11-14-01.pdf>> <<ENE EPS adjustments 11-14-01.doc>>
What is a potential subject line for this email?
A: ENE: Adjust Historical EPS As Per Restatements; Lower 4Q & 2002 Ests.
Q: Boys, Can I get a copy of an ERCOT bill that has come through. If one has come through for an EES account, that would be great. If it is some other account, that will be fine. If there are disclosure issues, just black out the name of the counterparty on the bill if that is possible. I need to start looking at this stuff to see if we are pricing stuff right down here. Thanks.
Propose a subject line
A: ERCOT Bills
Here is an email: The Commercial Group has asked whether they can sell daily firm for longer than a 3-month period. This phrasing is of course misleading; TW's daily firm contracts are always for a term of just one day, but renew for consecutive one-day terms unless terminated. The discount letter, on the other hand, grants a discounted rate for each of the one-day terms for a certain period of time (typically one month). Steve Harris wants to be able to "sell daily firm for a one-year period." In contractual terms all this would mean is that the contract is for renewabable one-day terms (as usual), and the discount applicable to such terms would be effective for one year. I see no problem with this, do you? (Apparently the current perception in marketing is that regulatory/legal was limiting daily firm to a 3-month period.)
What is a potential subject line for this email?
A:
daily firm on TW