Spreadsheet: sally_beck__36194__summary of issues05182001
Sheet: Summary

GLOBAL STANDARDS
Summary of Exception Reporting
as of May 17, 2001
Issue |  | Group |  | Comments |  | Status
Deal Capture Issues |  | Continental Gas |  | 2 deals not valued correctly (since March) pending spreadsheet model.
 |  | London - Credit |  | No feed to RisktRAC.
Sending confirmations to Brokers within 24 hours |  | EGM - Global Products |  | 88 confirms outstanding with 27 brokers.  Primary brokers are Syntex, Star Supply, Red Meteor and United Crude.
Sending confirmations to Counterparties within 48 hours |  | Canada - Power and Gas |  | 45 confirms outstanding with 22 counterparties.  Significant counterparties are  HydroQuebec and [NAME]. |  | Commercial, legal and credit are working with the counterparties.  50 of the outstanding confirms relate to one trader.  These are less than a week old and are being cleared up.
 |  | EGM - Global Products |  | 251 outstanding confirms with 116 counterparties.  Significant counterparties include Continental Oil, Kuwait Petes, and Risk Management Trading (internal).
Execution of confirmations within 7 days |  | Canada - Power and Gas |  | 617 confirms outstanding with 99 counterparties.  Significant counterparties are [NAME], [NAME] and PG&E. |  | Commercial, legal and credit are working with [NAME].  In litigation with PG&E.
 |  | Continental Power |  | 1957 outstanding confirms with 102 counterparties.  [NAME] counterparties are EDG Trading Limited, Hamburgische Electricitats-Werke AG and Entrade B.V.
 |  | UK Power |  | 612 outstanding confirms with 29 counterparties.  Significant counterparties are Scottish and Southern Energy plc, TXU Europe Energy Trading Ltd, and British Energy Power and Energy Trading Ltd.
 |  | UK Gas |  | 2188 outstanding confirms with 62 counterparties.  Significant counterparties are [NAME], TXU Europe Energy Trading Ltd and TotalFINAELF Gas and Power Limited.
 |  | EGM - Global Products |  | 677 confirms outstanding with178 counterparties.  Significant counterparties are Aepen, Cargill, Duke, Eastern Power, [NAME], Npower and [NAME].
Disputes greater than 90 days |  | Canada - Power and Gas |  | Significant dispute with PG&E ($21.6 million). |  | In litigation with PG&E.
 |  | Overall |  | Largest outstanding balances for all groups is another Enron related entity.
Other |  | EES |  | Significant changes between the prelim and final DPR numbers.
 |  | UK Power |  | Working on reconciling between RisktRAC VAR and spreadsheet VAR
 |  | Global Risk Ops |  | Working on standardizing & documenting the hierarchy for RisktRAC.
 |  | Global Risk Ops |  | Working on revamping broker fee reporting (currently not gathering all info properly).
 |  | Metals |  | Inventory tracking system is broken and there are significant manual overrides.
 |  | Metals |  | Numerous integration issues.
 |  | Metals |  | Significant deals that are not in the credit system due to missing counterparty information. |  | Credit and RAC are working together to get these deals identified and into the system.
 |  | Groups not reporting |  | Americas Power and Gas confirmation and settlement information, EES settlement information, EGM Financial confirmation and settlement information and EBS settlement information. |  | EES had been reporting then halted.  Requested that reporting start back.  EGM Financial group is undergoing a system conversion in the confirmation and settlement group, and will start reporting after the system conversion.