Here is an email: Lorraine, I've been studying the El Paso/Dynegy reservation reduction mechanism (RRM). Basically the deal was that Dynegy's minimum-pay obligation would be reduced by the amount of the fixed cost component of IT revenues generated by El Paso's transportation of IT volumes above a historical threshold. (The parties based the threshold on El Paso's monthly IT volumes for the 12 months ended 9/30/97.) The volumes in excess of the threshold were calculated and a ratio of the volumes in excess of the threshold to the total volumes was determined; the ratio would then be applied to the fixed cost component of all IT revenues and the resulting dollar value applied to Dynegy's monthly reservation charge, to the extent Dynegy had not met its minimum pay obligation for a particular month. This provision of course met with heavy opposition; however, FERC allowed it. FERC stated that while the RRM had anticompetitive effects because it created a disincentive for El Paso to discount IT, it was not unduly discriminatory. The "unduly discriminatory" conclusion was based on an analysis on the potential effect on the Cal. gas transportation market -- the
What is a potential subject line for this email?
A: Duke
Here is an email: See the new versions of the netting agreement forms below. All that has been done is to move the Force Majeure concept to paragraph 2(a) from 14(b). This allows the daily limit concept to stand in the UMAs, but it won't elevate to a default under the master netting arrangements. In certain instances if you want to "kill" the day limitation completely in the underlying agreement, you can always use the previous 14(b) language from the emailed docs earlier today. The docs remain at v1 (version 1).
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A: FORM CHANGE AGAIN!
Here is an email: In all the excitement of the day, I completely forgot to check on this deal. I know I got a call from one of you guys about the "New Counterparty" Diana Scholtes put in here; but I'm not sure now what I was supposed to check on. Give me a call in the morning and let me know. Sorry! Kate
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A:
509637