Larry, attached is an environmentall matrix to replace a 16" above ground valve at the Plains Compressor Station. Call if you have questions. Merry Christmas and Happy New Year Jim Myers Andrews Team
Answer: Environmental Matrix
We met with the commercial team this afternoon and I was able to piece together the following: Access to the auction site will be by clicking on a button on the EnronOnline (note spelling) trading page. Most users of the site will already be signed up for EnronOnline - both a PA and ETA executed. Other users will be given a user ID and password that give them "guest" access to EnronOnline and trading access to the auction page. On the auction page the users may submit their offers to transact (either to buy or sell) with Enron. The page will list a reserve price and identify the number of credits to be auctioned. We are willing to commit to transact up to that number with the best bidders (at or beyond the reserve price) but may transact larger volumes if we choose. Users' offers may be submitted at any time during the auction period (this time frame remains a bit unclear - probably one day, possibly a week or more) and must remain binding until the close of the bidding and determination of winning bidders. Certain uncreditworthy users may be required to post a deposit in the full amount of their offer to buy. It is not yet clear if we will publish the offers after the fact (maybe just the winning offers - all without names of course) or even during the auction period but we would like to have that option. I'm sure I've missed a few points but that gives you the flavor. Harry is preparing the "GTC" for the actual purchases and sales - I assume based on our standard contracts for these products. We need to put the legal framework together for the rest of it. If the existing PA and ETA are adequate, that would be great but I haven't reread them with that in mind. We REALLY don't want to have to have existing users sign another piece of paper. It makes sense that the existing ETA covers some territory that won't matter to users who only have access to the auction page (e.g. references to master agreements) so a stripped down version of the ETA for those counterparties would make sense. Can we talk on Monday?
Answer: Emissions Credits Auction Site
Gail: The commercial team is pressuring for a fairly quick implementation of a repo agreement. If the consent which I sent yesterday is not satisfactory, please advise as soon as possible so that I can obtain a repo specific consent. Also, could you please submit repo documents to me for review. I do not know who may have contacted you from the London group (Enron Credit Ltd.) but we can surely coordinate. That entity should have its own form of unanimous consent or resolution. Thanks for your help.
Answer: Enron Credit Inc. ("ECI") consent
So far I have not received comments from anyone on the attached. If you think it would be productive to get everyone together (possibly as early as Friday?) for about an hour to discuss capacity options, I will set up a meeting. Please let me know one way or the other. Thank you.
Answer:
Capacity Options on TW